Company Valuation: WHA Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 52,613 60,983 79,218 82,208 49,026 74,136 - -
Change - 15.91% 29.9% 3.77% -40.36% 51.22% - -
Enterprise Value (EV) 1 87,823 82,513 106,619 112,505 94,867 122,044 122,534 123,314
Change - -6.05% 29.22% 5.52% -15.68% 28.65% 0.4% 0.64%
P/E 20.3x 15.1x 17.9x 18.9x 9.55x 14.9x 13x 13.8x
PBR 1.72x 1.9x 2.37x 2.36x 1.33x 1.91x 1.8x 1.73x
PEG - 0.3x 1.91x -12.72x 0.5x -4.6x 0.9x -2.35x
Capitalization / Revenue 5.05x 4.44x 5.33x 7.25x 3.21x 4.65x 4.02x 3.85x
EV / Revenue 8.43x 6.01x 7.17x 9.93x 6.21x 7.65x 6.64x 6.41x
EV / EBITDA 23.3x 17.3x 19.3x 22.2x 15.9x 18.6x 15.8x 15.8x
EV / EBIT 27.9x 19.9x 22.2x 27.1x 19.2x 21.6x 18.3x 18.3x
EV / FCF 46.3x 28.7x 29.9x 142x -124x 21.3x 18.2x 21x
FCF Yield 2.16% 3.49% 3.35% 0.71% -0.81% 4.69% 5.5% 4.77%
Dividend per Share 2 0.02 - 0.1839 0.1906 - 0.2068 0.2226 0.2214
Rate of return 0.57% - 3.47% 3.47% - 4.17% 4.49% 4.46%
EPS 2 0.1733 0.2707 0.2961 0.2917 0.3436 0.3325 0.3817 0.3593
Distribution rate 11.5% - 62.1% 65.3% - 62.2% 58.3% 61.6%
Net sales 1 10,417 13,729 14,875 11,335 15,265 15,956 18,449 19,241
EBITDA 1 3,770 4,765 5,513 5,065 5,964 6,562 7,779 7,807
EBIT 1 3,150 4,155 4,803 4,150 4,935 5,652 6,700 6,728
Net income 1 2,590 4,046 4,426 4,359 5,135 5,184 5,640 5,324
Net Debt 1 35,211 21,530 27,401 30,297 45,842 47,908 48,398 49,178
Reference price 2 3.520 4.080 5.300 5.500 3.280 4.960 4.960 4.960
Nbr of stocks (in thousands) 14,946,835 14,946,835 14,946,835 14,946,835 14,946,835 14,946,835 - -
Announcement Date 2/24/22 2/23/23 2/23/24 2/21/25 2/26/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
5.98x17.02x21.24x5.03% 8.24B
11.02x12.16x15.2x2.41% 3.04B
14.62x7.6x18.96x4.27% 2.19B
11.22x - - - 1.7B
8.94x3.34x9.28x4.08% 1.08B
14.56x16.18x18.79x1.1% 1.08B
12.99x16.44x18.42x3.97% 708M
11.18x13.17x10.11x-.--% 703M
Average 11.31x 12.27x 16.00x 2.98% 2.34B
Weighted average by Cap. 9.41x 13.84x 18.37x 3.91%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield