Company Valuation: Samart Telcoms

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 3,090 3,708 4,264 1,792 4,017 2,571
Change - 20% 15% -57.97% 124.14% -36%
Enterprise Value (EV) 1 4,036 5,118 5,333 2,483 3,841 2,351
Change - 26.81% 4.22% -53.45% 54.71% -38.79%
P/E -10.7x 60.4x 16.4x 25x 34.8x 25.6x
PBR 0.93x 1.09x 1.19x 0.51x 1.11x 0.71x
PEG - -0x 0x -0.3x 0.6x -2x
Capitalization / Revenue 0.57x 0.81x 0.86x 0.4x 0.96x 0.48x
EV / Revenue 0.74x 1.12x 1.08x 0.55x 0.92x 0.44x
EV / EBITDA 7.89x 14.3x 13.7x 5.88x 7.13x 3.53x
EV / EBIT -11.8x 62.3x 74.1x 59.5x 45.1x 11.9x
EV / FCF 1.64x -19.3x 168x 12.1x 5.31x 3.92x
FCF Yield 61.1% -5.18% 0.6% 8.26% 18.8% 25.5%
Dividend per Share 2 - 0.05 0.21 0.06 0.11 0.12
Rate of return - 0.83% 3.04% 2.07% 1.69% 2.88%
EPS 2 -0.4652 0.0993 0.4216 0.116 0.1867 0.1622
Distribution rate - 50.3% 49.8% 51.7% 58.9% 74%
Net sales 1 5,431 4,581 4,947 4,489 4,183 5,385
EBITDA 1 511.7 358.4 389.2 422 538.5 666.2
EBIT 1 -342.1 82.16 72.01 41.7 85.13 196.8
Net income 1 -287.5 61.38 260.6 71.69 115.4 100.2
Net Debt 1 945.7 1,410 1,069 690.3 -176.3 -219.9
Reference price 2 5.000 6.000 6.900 2.900 6.500 4.160
Nbr of stocks (in thousands) 618,000 618,000 618,000 618,000 618,000 618,000
Announcement Date 23/02/21 24/02/22 23/02/23 22/02/24 20/02/25 26/02/26
1THB in Million2THB
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
11.01x1.31x4.13x7.05% 222B
10.26x2.48x6.56x6.08% 193B
13.18x2.15x5.55x4.16% 149B
13.93x1.87x8.15x3.01% 91.73B
11.64x0.86x3.22x6.65% 78.76B
11.47x1.77x4.47x2.85% 67.08B
15.35x2.69x8.41x5.06% 58.05B
23.27x5.28x19.27x4.7% 55.27B
14.9x2.75x6.14x4.4% 50.95B
Average 13.89x 2.35x 7.32x 4.88% 107.31B
Weighted average by Cap. 12.72x 2.11x 6.40x 5.31%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


-40%: Exceptional extension
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