Financials Asian Marine Services

Equities

ASIMAR

TH0544A10Z06

Shipbuilding

End-of-day quote Thailand S.E. 23:00:00 16/05/2024 BST 5-day change 1st Jan Change
1.71 THB +1.18% Intraday chart for Asian Marine Services +1.79% +23.02%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 483 309.9 382.3 583.7 464.9 359
Enterprise Value (EV) 1 657.7 492.4 549.8 725.5 754.5 435.7
P/E ratio 14.8 x 308 x 12.5 x 27.1 x 48.7 x 20.4 x
Yield 5.35% 4.17% 6.76% 4.42% 2.22% 5.76%
Capitalization / Revenue 0.92 x 0.7 x 0.77 x 1.11 x 0.61 x 0.63 x
EV / Revenue 1.25 x 1.12 x 1.11 x 1.37 x 0.99 x 0.76 x
EV / EBITDA 7.71 x 10.7 x 6.61 x 9.85 x 12.6 x 5.4 x
EV / FCF -15.2 x 25.1 x 9.09 x 13.9 x -6.32 x 2 x
FCF Yield -6.58% 3.98% 11% 7.2% -15.8% 50%
Price to Book 1.05 x 0.72 x 0.87 x 1.33 x 1.1 x 0.84 x
Nbr of stocks (in thousands) 258,291 258,291 258,291 258,291 258,291 258,291
Reference price 2 1.870 1.200 1.480 2.260 1.800 1.390
Announcement Date 28/02/19 02/03/20 01/03/21 25/02/22 28/02/23 29/02/24
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 524.5 440.7 493.6 528.1 765 573.6
EBITDA 1 85.34 46.14 83.2 73.66 59.99 80.73
EBIT 1 47.64 10.39 46.84 32.97 18.91 34.41
Operating Margin 9.08% 2.36% 9.49% 6.24% 2.47% 6%
Earnings before Tax (EBT) 1 40.29 2.074 39.43 26.46 11.54 23.46
Net income 1 32.67 1.006 30.62 21.56 9.543 17.58
Net margin 6.23% 0.23% 6.2% 4.08% 1.25% 3.06%
EPS 2 0.1265 0.003896 0.1186 0.0835 0.0369 0.0680
Free Cash Flow 1 -43.28 19.59 60.48 52.25 -119.3 217.8
FCF margin -8.25% 4.44% 12.25% 9.89% -15.6% 37.98%
FCF Conversion (EBITDA) - 42.44% 72.7% 70.94% - 269.84%
FCF Conversion (Net income) - 1,945.98% 197.52% 242.38% - 1,239.35%
Dividend per Share 2 0.1000 0.0500 0.1000 0.1000 0.0400 0.0800
Announcement Date 28/02/19 02/03/20 01/03/21 25/02/22 28/02/23 29/02/24
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 175 182 168 142 290 76.6
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 2.047 x 3.954 x 2.014 x 1.925 x 4.826 x 0.9493 x
Free Cash Flow 1 -43.3 19.6 60.5 52.3 -119 218
ROE (net income / shareholders' equity) 6.99% 0.24% 7.04% 4.88% 2.21% 4.15%
ROA (Net income/ Total Assets) 3.99% 0.86% 3.97% 2.88% 1.54% 2.6%
Assets 1 818.9 116.8 770.6 748.1 619.6 675.7
Book Value Per Share 2 1.790 1.660 1.710 1.690 1.630 1.660
Cash Flow per Share 2 0.1600 0.2600 0.1000 0.0800 0.1100 0.4300
Capex 1 54.7 36.1 25.2 7.2 32 45.4
Capex / Sales 10.42% 8.19% 5.1% 1.36% 4.18% 7.92%
Announcement Date 28/02/19 02/03/20 01/03/21 25/02/22 28/02/23 29/02/24
1THB in Million2THB
Estimates
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