Company Valuation: Internet Thailand

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,310 2,575 2,134 3,282 2,172 2,315 - -
Change - 11.47% -17.13% 53.79% -33.82% 6.59% - -
Enterprise Value (EV) 2,310 2,575 7,624 8,817 8,025 2,315 2,315 2,315
Change - 11.47% 196.06% 15.64% -8.98% -71.15% 0% 0%
P/E 14x 12.9x 9.09x 7.33x 9.1x 6.16x 4.04x 3.92x
PBR - - 0.82x 0.96x 0.61x - - -
PEG - 0.6x 0.5x 0.1x -0.2x 0.1x 0.1x 1.25x
Capitalization / Revenue - 1.26x 1.02x 1.3x 0.69x 0.71x 0.68x 0.68x
EV / Revenue - 0x 0x 0x 0x 0.71x 0.68x 0.68x
EV / EBITDA - 0x 0x 0x 0x 1.58x 1.38x 1.26x
EV / EBIT - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 - - 0.116 0.119 0.126 0.19 0.29 0.3
Rate of return - - 2.72% 2.16% 3.46% 4.9% 7.47% 7.73%
EPS 2 0.33 0.4 0.4688 0.75 0.4 0.63 0.96 0.99
Distribution rate - - 24.7% 15.9% 31.5% 30.2% 30.2% 30.3%
Net sales 1 - 2,044 2,090 2,531 3,145 3,258 3,392 3,425
EBITDA 1 - 1,012 1,053 1,367 1,778 1,470 1,676 1,843
EBIT - 737.2 771 1,085 1,214 - - -
Net income 1 162.9 201.3 234.6 385 241.7 376 571 589
Net Debt - - 5,490 5,535 5,853 - - -
Reference price 2 4.620 5.150 4.260 5.500 3.640 3.880 3.880 3.880
Nbr of stocks (in thousands) 500,042 500,042 500,967 596,740 596,740 596,740 - -
Announcement Date 24/02/22 24/02/23 28/02/24 27/02/25 02/03/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
23.32x3.79x13.25x2.85% 224B
14.09x1.55x8.16x3.41% 116B
-129.79x18.1x100.35x-.--% 117B
14.17x2.58x9.74x5.8% 82.55B
19.85x5.25x12.89x2.86% 59.74B
13.9x2.01x8.53x5.61% 44.75B
22.11x1.81x11.28x1.37% 44B
21.19x1.61x10.23x0.89% 41.4B
17.27x2.18x10.33x5.06% 35.34B
Average 1.79x 4.32x 20.53x 3.09% 84.92B
Weighted average by Cap. -3.73x 5.21x 24.68x 2.89%

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

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