Company Valuation: Starflex

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,141 2,444 2,835 2,220 2,356 2,263 - -
Change - -40.99% 16% -21.67% 6.1% -3.93% - -
Enterprise Value (EV) 4,141 2,444 2,835 2,832 2,913 2,263 2,263 2,263
Change - -40.99% 16% -0.1% 2.86% -22.3% 0% 0%
P/E 28.1x 42.6x 15.6x 7.94x 9.81x 9.06x 9.06x 8.8x
PBR - - 2.85x 1.96x 2.08x 1.99x 1.94x 1.89x
PEG - -0.7x 0x 0.1x -0.9x 1.45x - 2.99x
Capitalization / Revenue 2.47x 1.46x 1.58x 1.19x 1.2x 1.09x 1.04x 0.98x
EV / Revenue 0x 0x 0x 0x 0x 1.09x 1.04x 0.98x
EV / EBITDA 0x 0x 0x 0x 0x 5.73x 5.76x 5.39x
EV / EBIT - - 0x 0x 0x 7.01x 7.09x 6.58x
EV / FCF -0x 0x 0x 0x 0x 15.2x 10.1x 9.75x
FCF Yield -3.15% 1.27% 6.65% 4.86% 12.6% 6.58% 9.87% 10.3%
Dividend per Share 2 0.085 - 0.075 0.133 0.104 0.12 0.12 0.12
Rate of return 1.68% - 2.09% 4.65% 3.31% 3.9% 3.9% 3.9%
EPS 2 0.18 0.07 0.23 0.36 0.32 0.34 0.34 0.35
Distribution rate 47.2% - 32.6% 36.9% 32.5% 35.3% 35.3% 34.3%
Net sales 1 1,674 1,669 1,795 1,869 1,963 2,081 2,176 2,306
EBITDA 1 222.9 124.2 265.2 332.5 332.6 395 393 420
EBIT 1 - - 207 266.2 261.9 323 319 344
Net income 1 149.8 55.07 184.3 280.8 243.2 267 269 274
Net Debt - - - 611.4 556.9 - - -
Reference price 2 5.050 2.980 3.580 2.860 3.140 3.080 3.080 3.080
Nbr of stocks (in thousands) 820,000 820,000 791,793 776,337 750,235 734,773 - -
Announcement Date 25/02/22 22/02/23 27/02/24 26/02/25 25/02/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
9.06x - - 3.9% 68.42M
18.19x1.51x10.46x1.25% 16.88B
18.67x1.81x11.03x2.23% 13.47B
15.94x1.31x8.49x1.18% 12.73B
18.03x2.15x10.21x1.55% 11.42B
30.27x1.13x8.39x2.68% 9.27B
13.24x1.05x7.21x2% 4.45B
14.93x - - 2.67% 4.38B
16.5x2.17x9.53x5.78% 3.02B
Average 17.21x 1.59x 9.33x 2.58% 8.41B
Weighted average by Cap. 18.80x 1.58x 9.66x 1.94%

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