Company Valuation: Indorama Ventures

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 242,829 228,793 152,997 139,802 90,394 161,418 - -
Change - -5.78% -33.13% -8.62% -35.34% 78.57% - -
Enterprise Value (EV) 1 450,600 461,362 388,646 384,702 326,544 389,791 368,087 351,010
Change - 2.39% -15.76% -1.01% -15.12% 19.37% -5.57% -4.64%
P/E 9.51x 7.56x -13.2x -6.82x -12.3x 21.2x 19.7x 17.5x
PBR 1.53x 1.23x 0.93x 1.11x 0.77x 1.3x 1.21x 1.14x
PEG - 0.4x 0x -0.1x 0.2x -0x 2.57x 1.4x
Capitalization / Revenue 0.52x 0.35x 0.28x 0.26x 0.2x 0.33x 0.33x 0.32x
EV / Revenue 0.96x 0.7x 0.72x 0.71x 0.73x 0.8x 0.75x 0.71x
EV / EBITDA 7.06x 6.17x 11.3x 9.37x 13.2x 8.28x 7.49x 6.8x
EV / EBIT 10.7x 9.41x 58.2x 29.4x -382x 16.2x 15.8x 13.7x
EV / FCF 32.6x 8.81x 13.3x 20.2x 10.8x 37.9x 20.8x 14.7x
FCF Yield 3.07% 11.3% 7.49% 4.96% 9.24% 2.64% 4.8% 6.8%
Dividend per Share 2 1 1.45 0.925 0.7 0.7 0.7125 0.7883 0.83
Rate of return 2.31% 3.56% 3.39% 2.81% 4.35% 2.48% 2.74% 2.89%
EPS 2 4.55 5.39 -2.06 -3.65 -1.309 1.356 1.461 1.639
Distribution rate 22% 26.9% -44.9% -19.2% -53.5% 52.5% 54% 50.7%
Net sales 1 468,108 656,266 541,458 541,583 447,246 488,839 489,161 496,922
EBITDA 1 63,825 74,772 34,373 41,078 24,681 47,088 49,138 51,635
EBIT 1 42,089 49,050 6,675 13,089 -854.8 24,070 23,344 25,528
Net income 1 26,288 31,006 -10,798 -19,262 -7,348 7,575 8,326 9,371
Net Debt 1 207,771 232,569 235,649 244,900 236,150 228,373 206,669 189,592
Reference price 2 43.25 40.75 27.25 24.90 16.10 28.75 28.75 28.75
Nbr of stocks (in thousands) 5,614,552 5,614,552 5,614,552 5,614,552 5,614,552 5,614,552 - -
Announcement Date 27/02/22 25/02/23 23/02/24 26/02/25 02/03/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
27.17x4.21x13.56x2.13% 122B
16.7x5.38x26.76x4.12% 56.77B
63.72x1.31x8.61x6.06% 38.27B
11.62x1.2x6.53x2.9% 33.4B
9.34x3.04x7.14x4.65% 24.47B
8.25x0.83x5.13x4.6% 19.37B
69.83x12.65x45.95x0.07% 18.64B
16.42x0.79x5.83x1.88% 19.33B
9.89x1.01x7.74x4.31% 17.7B
Average 25.88x 3.38x 14.14x 3.41% 38.88B
Weighted average by Cap. 26.50x 3.63x 14.58x 3.26%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

  1. Stock Market
  2. Stocks
  3. IVL Stock
  4. I93A Stock
  5. Valuation Indorama Ventures