Company Valuation: 2S Metal

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 1,890 2,725 1,672 1,672 1,518 1,287
Change - 44.18% -38.64% 0% -9.21% -15.22%
Enterprise Value (EV) 1 1,943 2,378 1,231 1,338 1,287 1,050
Change - 22.42% -48.24% 8.67% -3.8% -18.44%
P/E 4.61x 3.69x -13.7x 10.4x 64.4x 8.9x
PBR 1.08x 1.2x 0.83x 0.83x 0.78x 0.63x
PEG - 0x 0x -0x -0.8x 0x
Capitalization / Revenue 0.34x 0.42x 0.25x 0.25x 0.2x 0.17x
EV / Revenue 0.35x 0.36x 0.18x 0.2x 0.17x 0.14x
EV / EBITDA 3.64x 2.48x -12.4x 6.62x 39.2x 6.31x
EV / EBIT 3.97x 2.6x -8.36x 8.95x -53.8x 9.89x
EV / FCF 18x 6.28x 4.69x -95.9x -33.6x -978x
FCF Yield 5.55% 15.9% 21.3% -1.04% -2.97% -0.1%
Dividend per Share 2 0.2045 0.4273 0.2 0.22 0.11 0.2
Rate of return 5.95% 8.62% 6.58% 7.24% 3.99% 8.55%
EPS 2 0.7458 1.341 -0.2221 0.2911 0.0429 0.2628
Distribution rate 27.4% 31.9% -90% 75.6% 257% 76.1%
Net sales 1 5,603 6,521 6,709 6,775 7,447 7,542
EBITDA 1 534.1 960 -99.4 202.1 32.86 166.4
EBIT 1 489.9 913.8 -147.2 149.5 -23.9 106.2
Net income 1 410.2 737.5 -122.2 160.1 23.58 144.5
Net Debt 1 52.61 -346.9 -441.1 -334.4 -231.2 -237.5
Reference price 2 3.436 4.955 3.040 3.040 2.760 2.340
Nbr of stocks (in thousands) 549,999 549,998 549,996 549,996 549,996 549,996
Announcement Date 25/02/21 25/02/22 21/02/23 22/02/24 20/02/25 25/02/26
1THB in Million2THB
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 59.42M
12.97x1.47x7.69x0.9% 56.26B
16.04x0.91x7.36x0.89% 53.15B
13.81x1.51x8.74x0.9% 33.71B
13.49x1.19x7.2x2.23% 24.5B
12.07x0.78x6.91x3.54% 22.39B
29.89x5.73x19.48x0.2% 19.87B
11.64x0.55x5.29x3.16% 17.21B
13.52x4.04x10.53x0.05% 10.69B
14.38x0.94x7.08x2.7% 10.5B
Average 15.31x 1.90x 8.92x 1.62% 24.83B
Weighted average by Cap. 15.06x 1.63x 8.52x 1.41%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA