Company Valuation: Forth Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 19,830 30,166 21,514 9,915 5,378 12,628 -
Change - 52.12% -28.68% -53.91% -45.75% 134.78% -
Enterprise Value (EV) 1 22,409 30,166 21,514 9,915 5,378 16,186 16,102
Change - 34.61% -28.68% -53.91% -45.75% 200.94% -0.52%
P/E 27.5x 38.9x 37.7x 44.2x 6.53x 13.4x 11.4x
PBR 12x - - - - 3.55x 2.93x
PEG - 4.99x -1.4x -0.7x 0x 0.9x 0.7x
Capitalization / Revenue 2.33x 3.2x 2.27x 1.13x 0.47x 1.04x 0.99x
EV / Revenue 2.63x 3.2x 2.27x 1.13x 0.47x 1.33x 1.26x
EV / EBITDA 16.8x 19.4x 14.4x 8.54x 2.63x 6.29x 5.71x
EV / EBIT 27.2x 29.6x 25.6x 23.5x 3.97x 9.03x 8.02x
EV / FCF - -41.3x 36.3x -70.7x 5.31x 37.4x 43.6x
FCF Yield - -2.42% 2.75% -1.42% 18.8% 2.68% 2.29%
Dividend per Share 2 0.45 0.52 0.47 - 0.21 0.3 0.35
Rate of return 2.12% 1.61% 2.04% - 3.65% 2.22% 2.59%
EPS 2 0.77 0.83 0.61 0.24 0.88 1.01 1.18
Distribution rate 58.4% 62.7% 77% - 23.9% 29.7% 29.7%
Net sales 1 8,513 9,431 9,492 8,767 11,350 12,134 12,761
EBITDA 1 1,337 1,553 1,493 1,162 2,044 2,572 2,822
EBIT 1 825.1 1,019 840.8 422.6 1,354 1,792 2,007
Net income 1 722.8 774.9 572.6 221.3 823.7 949 1,107
Net Debt 1 2,579 - - - - 3,558 3,474
Reference price 2 21.20 32.25 23.00 10.60 5.75 13.50 13.50
Nbr of stocks (in thousands) 935,375 935,375 935,375 935,375 935,375 935,375 -
Announcement Date 28/02/22 27/02/23 28/02/24 02/03/25 02/03/26 - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
13.37x1.33x6.29x2.22% 375M
29.78x5.64x16.82x0.65% 197B
30.57x11.06x19.87x0.89% 115B
13.09x0.29x6.41x3.87% 102B
39.88x5.25x17.8x1.01% 96.59B
16.74x2.95x10.96x1.42% 62.43B
19.89x1.07x12.26x0.68% 62.26B
24.03x4.02x12.86x1.34% 60.11B
38.95x4.58x19.44x0.32% 48.38B
24.52x3.96x14.42x0.02% 42.28B
Average 25.08x 4.02x 13.71x 1.24% 79B
Weighted average by Cap. 26.98x 4.83x 14.93x 1.21%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Forth Corporation

Historical PBR trend

Valuation ratios - PBR - Forth Corporation

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Forth Corporation

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Forth Corporation


Year-on-year evolution of the Yield

Valuation ratios - Yield - Forth Corporation
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