Financials Singha Estate

Equities

S

TH0940010Y08

Real Estate Development & Operations

End-of-day quote Thailand S.E. 23:00:00 09/05/2024 BST 5-day change 1st Jan Change
0.8 THB 0.00% Intraday chart for Singha Estate -2.44% -10.11%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 21,247 17,820 10,966 13,845 12,679 6,100
Enterprise Value (EV) 1 47,209 38,556 31,785 44,312 43,911 42,678
P/E ratio 16.5 x 15.6 x -4.2 x -101 x 26.1 x 28.7 x
Yield 1.29% 1.73% - - 1.08% 1.69%
Capitalization / Revenue 2.82 x 1.45 x 1.67 x 1.79 x 1.01 x 0.42 x
EV / Revenue 6.26 x 3.14 x 4.84 x 5.73 x 3.5 x 2.91 x
EV / EBITDA 42 x 17.7 x -45.8 x 99.9 x 19.6 x 24.9 x
EV / FCF -5.84 x -7.31 x 12.3 x 23.2 x -82.5 x -11.2 x
FCF Yield -17.1% -13.7% 8.13% 4.32% -1.21% -8.89%
Price to Book 1.23 x 1.02 x 0.74 x 0.87 x 0.76 x 0.37 x
Nbr of stocks (in thousands) 6,853,719 6,853,719 6,853,719 6,853,719 6,853,719 6,853,719
Reference price 2 3.100 2.600 1.600 2.020 1.850 0.8900
Announcement Date 27/02/19 27/02/20 25/02/21 28/02/22 27/02/23 27/02/24
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 7,539 12,275 6,563 7,739 12,530 14,675
EBITDA 1 1,123 2,180 -693.4 443.6 2,237 1,712
EBIT 1 668.8 1,435 -1,833 -552.9 1,290 1,690
Operating Margin 8.87% 11.69% -27.94% -7.14% 10.3% 11.51%
Earnings before Tax (EBT) 1 1,355 1,735 -3,716 -784.3 836.8 1,267
Net income 1 1,287 1,144 -2,613 -137.4 489.8 210.6
Net margin 17.07% 9.32% -39.82% -1.78% 3.91% 1.44%
EPS 2 0.1877 0.1669 -0.3813 -0.0201 0.0710 0.0310
Free Cash Flow 1 -8,083 -5,274 2,584 1,914 -532.2 -3,794
FCF margin -107.21% -42.96% 39.38% 24.73% -4.25% -25.86%
FCF Conversion (EBITDA) - - - 431.53% - -
FCF Conversion (Net income) - - - - - -
Dividend per Share 2 0.0400 0.0450 - - 0.0200 0.0150
Announcement Date 27/02/19 27/02/20 25/02/21 28/02/22 27/02/23 27/02/24
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 25,963 20,736 20,820 30,467 31,232 36,578
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 23.11 x 9.514 x -30.03 x 68.69 x 13.96 x 21.37 x
Free Cash Flow 1 -8,083 -5,274 2,584 1,914 -532 -3,794
ROE (net income / shareholders' equity) 7.33% 5.07% -13.9% -2.68% 2.12% 1.06%
ROA (Net income/ Total Assets) 0.84% 1.42% -1.73% -0.53% 1.2% 1.47%
Assets 1 153,673 80,728 151,427 26,072 40,934 14,304
Book Value Per Share 2 2.530 2.560 2.180 2.320 2.420 2.430
Cash Flow per Share 2 0.5200 0.7900 0.4900 0.3900 0.5000 0.4400
Capex 1 5,085 4,189 722 509 850 1,966
Capex / Sales 67.45% 34.12% 11% 6.58% 6.79% 13.4%
Announcement Date 27/02/19 27/02/20 25/02/21 28/02/22 27/02/23 27/02/24
1THB in Million2THB
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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