Financials Noble Development

Equities

NOBLE

TH0564B10Z00

Real Estate Development & Operations

End-of-day quote Thailand S.E. 23:00:00 09/05/2024 BST 5-day change 1st Jan Change
3.56 THB 0.00% Intraday chart for Noble Development -1.66% -9.18%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 7,486 11,320 8,422 7,600 5,368 4,875 -
Enterprise Value (EV) 1 7,486 18,651 8,422 19,600 5,368 4,875 4,875
P/E ratio 2.44 x 6.03 x 9.04 x 16.8 x 5.94 x 6.47 x 7.12 x
Yield - 10.5% 6.99% 3.6% - 9.27% 8.43%
Capitalization / Revenue - 1.06 x 1.23 x 0.93 x 0.59 x 0.48 x 0.51 x
EV / Revenue - 1.06 x 1.23 x 0.93 x 0.59 x 0.48 x 0.51 x
EV / EBITDA - 4.59 x 6.33 x 6.55 x 2.98 x 3.11 x 3.37 x
EV / FCF - 2.85 x -6.77 x -8.1 x - 6.22 x 9.8 x
FCF Yield - 35.1% -14.8% -12.4% - 16.1% 10.2%
Price to Book - 1.93 x - 1.28 x - 0.69 x 0.67 x
Nbr of stocks (in thousands) 1,369,414 1,369,414 1,369,414 1,369,414 1,369,414 1,369,414 -
Reference price 2 5.467 8.267 6.150 5.550 3.920 3.560 3.560
Announcement Date 27/02/20 25/02/21 24/02/22 22/02/23 27/02/24 - -
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 - 10,723 6,827 8,215 9,054 10,085 9,527
EBITDA 1 - 2,465 1,330 1,161 1,802 1,570 1,445
EBIT 1 - 2,377 587.4 490.7 1,638 1,321 1,172
Operating Margin - 22.16% 8.6% 5.97% 18.09% 13.1% 12.3%
Earnings before Tax (EBT) 1 - 2,386 1,177 597.4 1,200 926 816
Net income 1 3,071 1,878 931.8 454.9 910.4 760 681
Net margin - 17.52% 13.65% 5.54% 10.06% 7.54% 7.15%
EPS 2 2.243 1.370 0.6800 0.3300 0.6600 0.5500 0.5000
Free Cash Flow 1 - 3,976 -1,245 -938.7 - 783.4 497.2
FCF margin - 37.08% -18.23% -11.43% - 7.77% 5.22%
FCF Conversion (EBITDA) - 161.29% - - - 49.89% 34.41%
FCF Conversion (Net income) - 211.66% - - - 103.07% 73.01%
Dividend per Share 2 - 0.8700 0.4300 0.2000 - 0.3300 0.3000
Announcement Date 27/02/20 25/02/21 24/02/22 22/02/23 27/02/24 - -
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt - 7,331 - 12,000 - - -
Net Cash position - - - - - - -
Leverage (Debt/EBITDA) - 2.974 x - 10.34 x - - -
Free Cash Flow 1 - 3,976 -1,245 -939 - 783 497
ROE (net income / shareholders' equity) - 33.1% 16.2% 7.87% - 11.1% 9.5%
ROA (Net income/ Total Assets) - 9.2% 4.72% 2.13% - 4.2% 3.9%
Assets 1 - 20,414 19,739 21,388 - 18,095 17,462
Book Value Per Share 2 - 4.280 - 4.340 - 5.130 5.320
Cash Flow per Share 2 - - - - - 0.7400 0.7000
Capex 1 - 96.9 133 77 - 277 294
Capex / Sales - 0.9% 1.95% 0.94% - 2.75% 3.09%
Announcement Date 27/02/20 25/02/21 24/02/22 22/02/23 27/02/24 - -
1THB in Million2THB
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
SELL
Number of Analysts
1
Last Close Price
3.56 THB
Average target price
3.7 THB
Spread / Average Target
+3.93%
Consensus

Annual profits - Rate of surprise

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