Company Valuation: Information and Communication Networks

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 1,134 2,430 2,360 1,842 1,385 1,149
Change - 114.29% -2.86% -21.98% -24.82% -16.99%
Enterprise Value (EV) 1 1,040 2,444 2,357 1,836 1,101 1,332
Change - 135.02% -3.54% -22.12% -40.01% 20.95%
P/E 10.2x 15.9x 17.4x 9.87x 9.34x 11.3x
PBR 1.98x 3.75x 2.95x 2.11x 1.56x 1.31x
PEG - 0.4x -0.5x 0.4x -0.5x -0.4x
Capitalization / Revenue 0.77x 1.38x 1.63x 0.99x 0.97x 1.03x
EV / Revenue 0.71x 1.39x 1.63x 0.99x 0.77x 1.2x
EV / EBITDA 7.1x 12x 13.6x 5.75x 3.2x 4.64x
EV / EBIT 7.31x 12.2x 14x 8.28x 5.8x 10.2x
EV / FCF 19.7x -17.5x -17.9x 14.7x 2.19x -3.64x
FCF Yield 5.08% -5.72% -5.59% 6.8% 45.7% -27.5%
Dividend per Share 2 0.18 0.3 0.2 0.23 0.2 0.15
Rate of return 7.14% 5.56% 5.24% 8.39% 9.71% 8.77%
EPS 2 0.2481 0.34 0.22 0.2775 0.2206 0.1517
Distribution rate 72.5% 88.2% 90.9% 82.9% 90.6% 98.9%
Net sales 1 1,471 1,764 1,444 1,860 1,426 1,112
EBITDA 1 146.4 204.3 173 319.2 344.5 287.2
EBIT 1 142.3 199.6 168.1 221.8 189.8 130.7
Net income 1 111.7 157 132.5 175 148.3 102
Net Debt 1 -94.13 13.91 -3.041 -5.642 -283.1 182.8
Reference price 2 2.520 5.400 3.820 2.740 2.060 1.710
Nbr of stocks (in thousands) 450,000 450,000 617,920 672,100 672,100 672,100
Announcement Date 25/02/21 23/02/22 23/02/23 22/02/24 20/02/25 25/02/26
1THB in Million2THB
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 43.61M
11.08x1.31x4.14x7.01% 223B
10.16x2.47x6.52x6.14% 191B
12.71x2.09x5.41x4.27% 144B
13.45x1.84x8.04x3.12% 88.46B
11.81x0.9x3.36x6.54% 80.48B
11.7x1.79x4.53x2.8% 65.5B
14.8x2.64x8.24x5.16% 56.88B
23.03x5.24x19.11x4.74% 54.63B
14.93x2.76x6.17x4.35% 51.66B
Average 13.74x 2.34x 7.28x 4.9% 95.55B
Weighted average by Cap. 12.58x 2.09x 6.34x 5.35%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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  4. Valuation Information and Communication Networks