Financials CK Power

Equities

CKP

TH4536010Z09

Electric Utilities

End-of-day quote Thailand S.E. 23:00:00 09/05/2024 BST 5-day change 1st Jan Change
3.98 THB -2.45% Intraday chart for CK Power 0.00% +22.09%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 40,322 36,257 40,647 37,070 26,502 32,355 - -
Enterprise Value (EV) 1 40,322 36,257 40,647 61,674 26,502 54,203 55,012 56,363
P/E ratio 49.6 x 89.2 x 18.7 x 15.2 x 18.1 x 19.5 x 16.2 x 14.7 x
Yield 0.6% 0.78% 1.6% - - 2.39% 2.41% 2.6%
Capitalization / Revenue 4.81 x 5.42 x 4.62 x 3.4 x 2.58 x 3.16 x 3.14 x 3.14 x
EV / Revenue 4.81 x 5.42 x 4.62 x 5.66 x 2.58 x 5.29 x 5.34 x 5.48 x
EV / EBITDA 14 x 19.7 x 12.1 x 18.1 x 6.99 x 15.3 x 15.2 x 16.1 x
EV / FCF 14 x 16.9 x 11.2 x 18.8 x - 17.6 x 17.5 x 15.7 x
FCF Yield 7.13% 5.91% 8.9% 5.31% - 5.69% 5.73% 6.37%
Price to Book 1.71 x 1.53 x 1.64 x 1.4 x - 1.15 x 1.1 x 1.05 x
Nbr of stocks (in thousands) 8,129,382 8,129,383 8,129,383 8,129,383 8,129,383 8,129,383 - -
Reference price 2 4.960 4.460 5.000 4.560 3.260 3.980 3.980 3.980
Announcement Date 25/02/20 22/02/21 21/02/22 20/02/23 20/02/24 - - -
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 8,377 6,695 8,798 10,904 10,286 10,248 10,298 10,294
EBITDA 1 2,875 1,838 3,354 3,411 3,791 3,545 3,630 3,505
EBIT 1 1,358 277.5 1,783 1,839 2,223 1,989 2,031 2,238
Operating Margin 16.21% 4.14% 20.27% 16.87% 21.62% 19.41% 19.72% 21.74%
Earnings before Tax (EBT) 1 1,095 181.8 2,812 2,893 2,017 1,908 2,136 2,202
Net income 1 768.9 404.7 2,179 2,436 1,462 1,723 1,946 2,190
Net margin 9.18% 6.04% 24.77% 22.34% 14.21% 16.81% 18.9% 21.27%
EPS 2 0.1000 0.0500 0.2680 0.3000 0.1800 0.2040 0.2460 0.2700
Free Cash Flow 1 2,874 2,142 3,618 3,276 - 3,082 3,152 3,592
FCF margin 34.31% 31.99% 41.12% 30.05% - 30.07% 30.61% 34.89%
FCF Conversion (EBITDA) 99.96% 116.51% 107.87% 96.04% - 86.95% 86.84% 102.46%
FCF Conversion (Net income) 373.83% 529.19% 166.04% 134.49% - 178.85% 161.97% 164%
Dividend per Share 2 0.0300 0.0350 0.0800 - - 0.0950 0.0960 0.1033
Announcement Date 25/02/20 22/02/21 21/02/22 20/02/23 20/02/24 - - -
1THB in Million2THB
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4
Net sales 1 2,416 2,531 4,947 3,519 2,594 2,555 2,365 2,478 2,889
EBITDA 1 601.9 848.9 1,578 998.3 664.9 616.6 560.1 - 1,206
EBIT 1 213.8 328.4 - 756.6 - - - - 810.7
Operating Margin 8.85% 12.98% - 21.5% - - - - 28.06%
Earnings before Tax (EBT) 1 71.5 206.5 - 1,744 - - 21.84 - 845
Net income 1 38.73 864 902.8 1,462 71.79 -104.3 1.801 - 542.7
Net margin 1.6% 34.14% 18.25% 41.54% 2.77% -4.08% 0.08% - 18.79%
EPS 2 0.005000 0.1060 0.1110 0.1800 - - - - 0.0670
Dividend per Share - - - - - - - - -
Announcement Date 12/05/22 11/08/22 11/08/22 11/11/22 20/02/23 11/05/23 10/08/23 09/11/23 20/02/24
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - 24,604 - 21,849 22,657 24,008
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) - - - 7.212 x - 6.164 x 6.241 x 6.849 x
Free Cash Flow 1 2,874 2,142 3,618 3,276 - 3,082 3,152 3,592
ROE (net income / shareholders' equity) 3.67% 1.71% 8.97% 9.48% - 5.84% 6.31% 6.55%
ROA (Net income/ Total Assets) 1.21% 0.62% 3.2% 3.51% - 2.46% 2.83% 3.35%
Assets 1 63,347 65,615 68,007 69,412 - 70,120 68,893 65,471
Book Value Per Share 2 2.900 2.920 3.050 3.270 - 3.460 3.610 3.810
Cash Flow per Share 2 0.4000 0.2800 0.4500 0.4100 - 0.5000 0.5000 0.6000
Capex 1 250 104 - 43.7 - 844 844 694
Capex / Sales 2.99% 1.55% - 0.4% - 8.24% 8.2% 6.74%
Announcement Date 25/02/20 22/02/21 21/02/22 20/02/23 20/02/24 - - -
1THB in Million2THB
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
6
Last Close Price
3.98 THB
Average target price
4.612 THB
Spread / Average Target
+15.87%
Consensus