Company Valuation: STP&I

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 5,691 10,231 6,650 5,156 5,836 8,191
Change - 79.78% -35% -22.47% 13.17% 40.37%
Enterprise Value (EV) 1 7,138 8,300 5,614 5,981 9,380 11,334
Change - 16.28% -32.36% 6.54% 56.82% 20.83%
P/E -6.84x 31.9x -45.9x 25.6x 59.3x 42x
PBR 0.77x 1.33x 0.88x 0.67x 0.68x 0.94x
PEG - -0x 0x -0x -1x 0.4x
Capitalization / Revenue 3.23x 4.53x 1.76x 1.31x 2.33x 2.4x
EV / Revenue 4.05x 3.67x 1.48x 1.52x 3.74x 3.32x
EV / EBITDA -423x 36.8x 75.2x 12.7x 27.8x 17.2x
EV / EBIT -12.9x 3,378x -60.5x 19.8x 79.9x 38.2x
EV / FCF -24.1x 86x -24x 136x -69.8x 15.6x
FCF Yield -4.14% 1.16% -4.16% 0.73% -1.43% 6.42%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -0.5204 0.2004 -0.0906 0.1257 0.0543 0.1077
Distribution rate - - - - - -
Net sales 1 1,763 2,259 3,784 3,933 2,507 3,409
EBITDA 1 -16.87 225.3 74.64 471.9 337.8 659.2
EBIT 1 -555.3 2.457 -92.72 301.5 117.4 296.6
Net income 1 -836.7 320.3 -144.9 201 90.97 195.1
Net Debt 1 1,447 -1,931 -1,037 824.9 3,544 3,142
Reference price 2 3.560 6.400 4.160 3.220 3.220 4.520
Nbr of stocks (in thousands) 1,598,651 1,598,651 1,598,651 1,601,311 1,812,272 1,812,272
Announcement Date 01/03/21 01/03/22 28/02/23 01/03/24 28/02/25 02/03/26
1THB in Million2THB
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 299M
20.69x1.82x10.03x0.56% 32.38B
12.48x0.47x4.66x4.54% 18.93B
19.86x1.92x9.96x0.22% 11.96B
9.25x0.67x4.36x4.46% 11.37B
9.98x - - - 10.13B
55.85x4.91x27.83x0.48% 9.71B
11.38x0.82x5.85x4.3% 9.49B
86.9x1.54x16.48x0.64% 9.11B
Average 28.30x 1.73x 11.31x 2.17% 12.6B
Weighted average by Cap. 24.69x 1.63x 10.27x 2.03%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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