Valuation AP (Thailand)

Stocks

End-of-day quote Thailand S.E. 25/09/2026			5-day change	1st Jan Change
7.900 ^THB	0.00%		-1.25%	-8.14%

08-13	AP Public Company Limited Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI
07-30	KGI Securities Upgrades AP Thailand to Outperform from Neutral; Price Target is THB9.40	MT

Data adjusted to current consolidation scope

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Market Cap ¹	30,043	36,492	35,549	25,482	27,055	24,853	-	-
Change	-	21.47%	-2.59%	-28.32%	6.17%	-8.14%	-	-
Enterprise Value (EV) ¹	48,921	57,612	67,592	55,277	49,917	54,688	54,024	50,333
Change	-	17.77%	17.32%	-18.22%	-9.7%	9.56%	-1.21%	-6.83%
P/E	6.63x	6.2x	5.89x	5.06x	6.28x	5.46x	5.05x	4.28x
PBR	0.93x	0.99x	0.87x	0.58x	0.59x	0.51x	0.48x	0.45x
PEG	-	0.2x	2.2x	-0.3x	-0.4x	0.97x	0.62x	0.2x
Capitalization / Revenue	0.94x	0.95x	0.93x	0.69x	0.72x	0.62x	0.6x	0.58x
EV / Revenue	1.54x	1.49x	1.78x	1.49x	1.34x	1.37x	1.31x	1.18x
EV / EBITDA	10.3x	9.44x	10.4x	9.68x	9.19x	9.94x	9.25x	7.99x
EV / EBIT	10.5x	9.92x	10.9x	10.2x	9.6x	10.7x	10x	8.67x
EV / FCF	25.5x	-28.4x	-6.2x	21.8x	27.9x	20.2x	16x	15.7x
FCF Yield	3.92%	-3.53%	-16.1%	4.59%	3.58%	4.94%	6.23%	6.36%
Dividend per Share ²	0.5	0.65	0.7	0.6	0.52	0.5505	0.6026	0.6438
Rate of return	5.24%	5.6%	6.19%	7.41%	6.05%	6.97%	7.63%	8.15%
EPS ²	1.44	1.87	1.92	1.6	1.37	1.447	1.566	1.846
Distribution rate	34.7%	34.8%	36.5%	37.5%	38%	38%	38.5%	34.9%
Net sales ¹	31,794	38,539	38,045	36,988	37,345	39,878	41,338	42,502
EBITDA ¹	4,760	6,101	6,500	5,712	5,433	5,502	5,843	6,300
EBIT ¹	4,668	5,810	6,210	5,437	5,197	5,119	5,404	5,804
Net income ¹	4,543	5,877	6,054	5,020	4,317	4,551	4,934	5,285
Net Debt ¹	18,877	21,120	32,043	29,795	22,862	29,835	29,171	25,481
Reference price ²	9.550	11.600	11.300	8.100	8.600	7.900	7.900	7.900
Nbr of stocks (in thousands)	3,145,899	3,145,899	3,145,899	3,145,899	3,145,899	3,145,899	-	-
Announcement Date	22/02/22	21/02/23	20/02/24	27/02/25	27/02/26	-	-	-

¹THB in Million²THB

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (N)	EV / Sales (N)	EV / EBITDA (N)	Dividend Yield (N)	Capi.($)
AP (THAILAND)	5.46x	1.37x	9.94x	6.97%	744M
VINGROUP	62.72x	-	-	-	66.97B
VINHOMES	9.27x	3.51x	7.77x	-.--%	21.85B
VONOVIA SE	6.84x	15.35x	18.3x	7.3%	16.6B
EMAAR DEVELOPMENT	4.27x	0.06x	0.12x	7.63%	14.44B
DEUTSCHE WOHNEN SE	7.35x	15.9x	-	7.19%	7.2B
CHINA VANKE CO., LTD.	-1.88x	1.63x	-18537.86x	-.--%	6.13B
OPEN HOUSE GROUP CO., LTD.	7.21x	0.76x	6.24x	2.81%	5.36B
IIDA GROUP HOLDINGS CO., LTD.	8.69x	0.55x	6.94x	4.3%	3.98B
Average	12.21x	4.89x	-2,641.22x	4.53%	15.92B
Weighted average by Cap.	32.78x	6.09x	-1,637.69x	4.2%