Company Valuation: Frasers Property (Thailand) Public Company Limited

Data adjusted to current consolidation scope
Fiscal Period: September 2020 2021 2022 2023 2024 2025
Market Cap 1 24,352 26,904 35,253 35,717 30,151 15,771
Change - 10.48% 31.03% 1.32% -15.58% -47.69%
Enterprise Value (EV) 1 69,117 76,289 87,639 84,995 80,513 64,800
Change - 10.38% 14.88% -3.02% -5.27% -19.52%
P/E 7.85x 17x 14.3x 19.3x 21x 10.8x
PBR 0.76x 0.78x 0.98x 0.97x 0.82x 0.43x
PEG - -0.3x 0.3x -0.8x -0.9x 6.83x
Capitalization / Revenue 1.32x 1.83x 2.35x 2.3x 2.16x 1.16x
EV / Revenue 3.74x 5.18x 5.84x 5.48x 5.77x 4.76x
EV / EBITDA 17.3x 27.6x 25.2x 28.9x 25.6x 25.8x
EV / EBIT 24.4x 40.7x 34.5x 45.5x 38.3x 44.3x
EV / FCF -47.7x 23.4x 51x 96.2x 70.7x 31.9x
FCF Yield -2.1% 4.27% 1.96% 1.04% 1.42% 3.13%
Dividend per Share 2 0.6 0.34 0.43 0.4 0.31 0.32
Rate of return 5.71% 2.93% 2.83% 2.6% 2.38% 4.71%
EPS 2 1.338 0.684 1.063 0.7984 0.6201 0.6299
Distribution rate 44.8% 49.7% 40.5% 50.1% 50% 50.8%
Net sales 1 18,479 14,725 15,009 15,504 13,958 13,616
EBITDA 1 3,995 2,763 3,474 2,942 3,147 2,507
EBIT 1 2,828 1,872 2,544 1,869 2,104 1,463
Net income 1 2,791 1,586 2,464 1,852 1,438 1,461
Net Debt 1 44,764 49,386 52,386 49,278 50,362 49,029
Reference price 2 10.500 11.600 15.200 15.400 13.000 6.800
Nbr of stocks (in thousands) 2,319,277 2,319,277 2,319,277 2,319,277 2,319,277 2,319,277
Announcement Date 09/11/20 09/11/21 08/11/22 09/11/23 11/11/24 06/11/25
1THB in Million2THB
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.1x4.82x12.97x3.35% 42.99B
8.61x1.49x7.8x4.13% 29.74B
18.41x4.03x16.47x1.34% 28.08B
6.23x0.33x0.69x8.99% 26.76B
13.66x3.05x14.7x2.59% 24.75B
8.84x2.28x7x3.95% 20.82B
8.03x0.89x3.24x2.78% 20.55B
13.7x6.59x17.66x1.55% 19.8B
10.08x1.64x14.18x3.74% 18.37B
Average 11.41x 2.79x 10.52x 3.6% 25.76B
Weighted average by Cap. 11.78x 2.91x 10.60x 3.66%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

  1. Stock Market
  2. Stocks
  3. FPT Stock
  4. TCIZF Stock
  5. Valuation Frasers Property (Thailand) Public Company Limited