Financials Dohome

Equities

DOHOME

TH9301010004

Home Improvement Products & Services Retailers

End-of-day quote Thailand S.E. Other stock markets 23:00:00 29/04/2024 BST			5-day change	1st Jan Change
10.8 ^THB	+1.89%		+1.89%	-11.10%

04-18	Dohome Public Company Limited Approves Cash Dividend for the Year 2023, Payable on 17 May 2024	CI
02-20	Dohome Public Company Limited Proposes Cash Dividend for the Year Ended December 31, 2023, Payable Within 17 May 2024	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	18,098	30,317	56,437	43,020	39,232	34,879	-	-
Enterprise Value (EV) ¹	26,964	40,871	68,309	59,952	39,232	53,000	53,898	53,605
P/E ratio	21.2 x	41.2 x	30.5 x	55.6 x	67 x	38.2 x	28.4 x	22.9 x
Yield	1.14%	0.4%	0.1%	0.47%	-	0.76%	1.08%	1.33%
Capitalization / Revenue	1.01 x	1.61 x	2.19 x	1.39 x	1.27 x	1.06 x	0.96 x	0.88 x
EV / Revenue	1.5 x	2.18 x	2.65 x	1.93 x	1.27 x	1.61 x	1.48 x	1.35 x
EV / EBITDA	17.2 x	24.7 x	22.1 x	28.9 x	18.1 x	20.8 x	18.1 x	16.2 x
EV / FCF	-47.8 x	-30.4 x	-23.3 x	-14.3 x	-	46.4 x	-33.9 x	121 x
FCF Yield	-2.09%	-3.29%	-4.29%	-6.99%	-	2.15%	-2.95%	0.82%
Price to Book	-	4.28 x	5.19 x	3.71 x	-	2.59 x	2.37 x	2.18 x
Nbr of stocks (in thousands)	3,127,085	3,127,082	3,228,643	3,228,794	3,229,547	3,229,547	-	-
Reference price ²	5.787	9.695	17.48	13.32	12.15	10.80	10.80	10.80
Announcement Date	20/02/20	18/02/21	17/02/22	21/02/23	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	17,972	18,777	25,785	31,045	30,890	32,910	36,471	39,680
EBITDA ¹	1,563	1,652	3,094	2,074	2,163	2,552	2,978	3,305
EBIT ¹	1,156	1,149	2,504	1,290	1,266	1,597	1,953	2,278
Operating Margin	6.43%	6.12%	9.71%	4.16%	4.1%	4.85%	5.36%	5.74%
Earnings before Tax (EBT) ¹	-	-	2,266	956.8	721.8	1,142	1,523	1,881
Net income ¹	725.5	726.7	1,818	774.1	585.3	925.9	1,238	1,528
Net margin	4.04%	3.87%	7.05%	2.49%	1.89%	2.81%	3.39%	3.85%
EPS ²	0.2730	0.2354	0.5726	0.2397	0.1812	0.2829	0.3805	0.4712
Free Cash Flow ¹	-564	-1,344	-2,927	-4,191	-	1,142	-1,592	441.2
FCF margin	-3.14%	-7.16%	-11.35%	-13.5%	-	3.47%	-4.36%	1.11%
FCF Conversion (EBITDA)	-	-	-	-	-	44.75%	-	13.35%
FCF Conversion (Net income)	-	-	-	-	-	123.33%	-	28.87%
Dividend per Share ²	0.0659	0.0385	0.0167	0.0625	-	0.0821	0.1170	0.1434
Announcement Date	20/02/20	18/02/21	17/02/22	21/02/23	20/02/24	-	-	-

¹THB in Million²THB

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2021 S1	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2024 Q1	2024 Q2
Net sales ¹	9,194	12,476	6,035	7,274	8,364	7,815	16,060	7,413	7,572	8,375	7,898	16,273	7,431	7,258	8,038	-
EBITDA ¹	-	-	630.6	642.9	804.4	659	1,459	364.3	250.5	659.5	401.9	1,061	473.7	514.9	711.8	-
EBIT ¹	525.1	-	486.1	475.9	636.2	470.3	1,103	149.2	38.24	442.6	181.6	624.2	246.7	394.7	464.8	-
Operating Margin	5.71%	-	8.06%	6.54%	7.61%	6.02%	6.87%	2.01%	0.5%	5.28%	2.3%	3.84%	3.32%	5.44%	5.78%	-
Earnings before Tax (EBT) ¹	-	-	426.6	415.2	568.9	392.8	-	63.46	-68.33	-	45.61	369.8	107.5	244.4	315.7	-
Net income ¹	323.7	1,144	340.4	333.2	459.5	315.4	774.9	50.31	-51.15	258.3	39.39	297.7	90.6	196.9	244.8	158
Net margin	3.52%	9.17%	5.64%	4.58%	5.49%	4.04%	4.83%	0.68%	-0.68%	3.08%	0.5%	1.83%	1.22%	2.71%	3.05%	-
EPS ²	-	0.3691	-	0.1022	0.1440	0.0977	0.2400	0.0156	-0.0158	-	0.0122	0.0922	0.0280	0.0610	0.0833	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	11/08/20	13/08/21	10/11/21	17/02/22	06/05/22	05/08/22	05/08/22	07/11/22	21/02/23	07/05/23	08/08/23	08/08/23	07/11/23	20/02/24	-	-

¹THB in Million²THB

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	8,867	10,553	11,872	16,933	-	18,121	19,019	18,726
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	5.671 x	6.388 x	3.837 x	8.163 x	-	7.102 x	6.387 x	5.665 x
Free Cash Flow ¹	-564	-1,344	-2,927	-4,191	-	1,142	-1,592	441
ROE (net income / shareholders' equity)	12.9%	10.7%	20.2%	6.89%	-	7.43%	8.99%	10.3%
ROA (Net income/ Total Assets)	4.17%	3.73%	7.58%	2.56%	-	3.23%	3.87%	4.31%
Assets ¹	17,413	19,458	23,996	30,272	-	28,639	32,018	35,485
Book Value Per Share ²	-	2.270	3.370	3.590	-	4.170	4.560	4.950
Cash Flow per Share ²	-	-	-	-	-	0.6600	0.6200	0.6900
Capex ¹	1,152	1,255	2,267	4,145	-	1,436	1,927	1,905
Capex / Sales	6.41%	6.68%	8.79%	13.35%	-	4.36%	5.28%	4.8%
Announcement Date	20/02/20	18/02/21	17/02/22	21/02/23	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

Ratings for Dohome

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

10.8 THB

Average target price

11.9 THB

Spread / Average Target

+10.23%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Home Improvement Products & Services Retailers

	1st Jan change	Capi.
DOHOME	-11.10%	939M
THE HOME DEPOT, INC.	-4.21%	331B
LOWE'S COMPANIES, INC.	+2.23%	130B
KINGFISHER PLC	+2.10%	5.78B
HOME PRODUCT CENTER	-11.11%	3.68B
MR D.I.Y. GROUP (M)	+7.59%	3.09B
SIAM GLOBAL HOUSE	-2.05%	2.27B
HILLMAN SOLUTIONS CORP.	+5.21%	1.94B
HORNBACH BAUMARKT AG	+9.94%	1.77B
RED STAR MACALLINE GROUP CORPORATION LTD.	-27.78%	1.72B

Other Home Improvement Products & Services Retailers