Company Valuation: Samart Aviation Solutions

Data adjusted to current consolidation scope
Fiscal Period: December 2023 2024 2025 2026 2027 2028
Market Cap 1 10,304 12,288 7,470 7,150 - -
Change - 19.25% -39.21% -4.27% - -
Enterprise Value (EV) 10,304 11,700 7,470 7,150 7,150 7,150
Change - 13.55% -36.16% -4.27% 0% 0%
P/E 35x 26.3x 13.8x 13.4x 11.4x 10.7x
PBR 8.08x 8.06x 5.43x 4.43x 4.58x -
PEG 1.1x 0.4x 0.8x -6.83x 0.6x 1.5x
Capitalization / Revenue 6.27x 7x 3.61x 3.73x 3.31x 3.03x
EV / Revenue 0x 0x 0x 3.73x 3.31x 3.03x
EV / EBITDA 0x 0x 0x 9.16x 7.86x 6.94x
EV / EBIT 0x 0x 0x 9.35x 8.51x -
EV / FCF 0x 0x 0x 13.3x 12.1x -
FCF Yield 2.94% 4.2% 8.79% 7.52% 8.29% -
Dividend per Share 2 0.75 1.1 0.9 0.74 0.84 0.84
Rate of return 4.66% 5.73% 7.69% 6.61% 7.5% 7.5%
EPS 2 0.46 0.73 0.85 0.8333 0.98 1.05
Distribution rate 163% 151% 106% 88.8% 85.7% 80%
Net sales 1 1,644 1,756 2,071 1,918 2,157 2,360
EBITDA 1 579.1 710 826.2 781 909.7 1,031
EBIT 1 514.8 642.5 753.3 765 840 -
Net income 1 271.6 464.3 545.8 533.7 628.3 675
Net Debt - -588 - - - -
Reference price 2 16.10 19.20 11.70 11.20 11.20 11.20
Nbr of stocks (in thousands) 640,000 640,000 638,425 638,425 - -
Announcement Date 21/02/24 19/02/25 27/02/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
13.44x - - 6.61% 211M
44.58x12.99x22.95x1.33% 25.87B
18.98x3.19x9.86x1.53% 6.88B
13.79x5.79x8.62x5.98% 5.01B
22.45x4.27x10.91x3.27% 4.84B
141.5x - - 0.35% 4.77B
15.79x5.87x9.71x6.35% 3.69B
25.52x2.52x10.01x6.16% 3.01B
26.57x1.58x5.42x1.91% 3.03B
Average 35.85x 5.17x 11.07x 3.72% 6.37B
Weighted average by Cap. 41.09x 8.44x 16.05x 2.47%

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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  4. Valuation Samart Aviation Solutions