Financials Lighting and Equipment

Equities

L&E

TH0784010Z09

Electrical Components & Equipment

End-of-day quote Thailand S.E. 23:00:00 11/06/2024 BST 5-day change 1st Jan Change
1.07 THB -4.46% Intraday chart for Lighting and Equipment -1.83% -18.32%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 1,269 964.4 875.8 1,014 1,004 644.6
Enterprise Value (EV) 1 2,539 2,106 1,814 2,178 2,387 2,029
P/E ratio 10.9 x 13.3 x 23.6 x 23.1 x 31.9 x -26.8 x
Yield 6.2% 7.14% 4.21% 4.13% 2.99% 3.05%
Capitalization / Revenue 0.43 x 0.35 x 0.36 x 0.37 x 0.31 x 0.23 x
EV / Revenue 0.86 x 0.77 x 0.75 x 0.8 x 0.73 x 0.74 x
EV / EBITDA 9.01 x 9.2 x 10.7 x 13 x 14.9 x 16.1 x
EV / FCF -16.9 x 13.9 x 4.86 x -10.4 x -23.3 x 18.7 x
FCF Yield -5.92% 7.21% 20.6% -9.65% -4.29% 5.35%
Price to Book 1.03 x 0.8 x 0.75 x 0.87 x 0.87 x 0.58 x
Nbr of stocks (in thousands) 492,040 492,040 492,040 492,040 492,040 492,040
Reference price 2 2.580 1.960 1.780 2.060 2.040 1.310
Announcement Date 20/02/19 18/02/20 23/02/21 22/02/22 21/02/23 22/02/24
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 2,938 2,722 2,425 2,715 3,269 2,759
EBITDA 1 281.9 228.8 169.3 167.5 160.5 126.2
EBIT 1 199.9 140.8 88.05 84.87 80.21 37.71
Operating Margin 6.8% 5.17% 3.63% 3.13% 2.45% 1.37%
Earnings before Tax (EBT) 1 155 98.48 50.79 54.46 38.74 -17.08
Net income 1 116.9 72.26 37.13 43.83 31.42 -24.09
Net margin 3.98% 2.65% 1.53% 1.61% 0.96% -0.87%
EPS 2 0.2376 0.1468 0.0755 0.0891 0.0639 -0.0490
Free Cash Flow 1 -150.4 151.7 373.2 -210.1 -102.4 108.7
FCF margin -5.12% 5.57% 15.39% -7.74% -3.13% 3.94%
FCF Conversion (EBITDA) - 66.3% 220.43% - - 86.07%
FCF Conversion (Net income) - 209.97% 1,004.94% - - -
Dividend per Share 2 0.1600 0.1400 0.0750 0.0850 0.0610 0.0400
Announcement Date 20/02/19 18/02/20 23/02/21 22/02/22 21/02/23 22/02/24
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 1,269 1,141 939 1,164 1,383 1,385
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 4.502 x 4.987 x 5.544 x 6.948 x 8.619 x 10.97 x
Free Cash Flow 1 -150 152 373 -210 -102 109
ROE (net income / shareholders' equity) 9.72% 5.9% 3.12% 3.76% 2.7% -2.12%
ROA (Net income/ Total Assets) 4.23% 2.9% 1.9% 1.73% 1.49% 0.7%
Assets 1 2,766 2,490 1,952 2,532 2,109 -3,424
Book Value Per Share 2 2.500 2.460 2.380 2.370 2.360 2.260
Cash Flow per Share 2 0.1000 0.1200 0.1800 0.1800 0.1200 0.1100
Capex 1 42.6 62.7 107 66.5 47.9 42
Capex / Sales 1.45% 2.3% 4.4% 2.45% 1.47% 1.52%
Announcement Date 20/02/19 18/02/20 23/02/21 22/02/22 21/02/23 22/02/24
1THB in Million2THB
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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