Company Valuation: Syntec Construction

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 2,323 3,102 2,832 2,530 2,546 2,592
Change - 33.56% -8.72% -10.67% 0.63% 1.83%
Enterprise Value (EV) 1 2,542 3,400 2,788 769.5 283.6 112.5
Change - 33.74% -17.98% -72.4% -63.15% -60.34%
P/E 9.69x 24.8x -7.7x 13.2x 4.81x 4.4x
PBR 0.42x 0.55x 0.54x 0.48x 0.45x 0.43x
PEG - -0.5x 0x -0x 0x 0.4x
Capitalization / Revenue 0.29x 0.58x 0.55x 0.34x 0.31x 0.32x
EV / Revenue 0.32x 0.64x 0.54x 0.1x 0.03x 0.01x
EV / EBITDA 4.17x 7.69x -44.8x 1.7x 0.37x 0.11x
EV / EBIT 7.98x 17.8x -9.03x 3.02x 0.48x 0.14x
EV / FCF 2.44x -7.44x 14.7x 0.35x 1.7x 0.25x
FCF Yield 41% -13.4% 6.81% 288% 58.7% 407%
Dividend per Share 2 0.08 0.06 - 0.06 0.09 0.12
Rate of return 5.48% 3.08% - 3.77% 5.63% 7.32%
EPS 2 0.1507 0.0787 -0.2312 0.1205 0.3326 0.3724
Distribution rate 53.1% 76.2% - 49.8% 27.1% 32.2%
Net sales 1 7,981 5,309 5,146 7,430 8,215 8,077
EBITDA 1 609.1 442.1 -62.31 453.3 757.9 979.3
EBIT 1 318.4 190.9 -308.8 254.5 589.2 803
Net income 1 239.8 125.2 -367.8 191.8 529.2 590.2
Net Debt 1 219.2 297.2 -43.52 -1,760 -2,262 -2,480
Reference price 2 1.460 1.950 1.780 1.590 1.600 1.640
Nbr of stocks (in thousands) 1,590,957 1,590,957 1,590,957 1,590,957 1,590,957 1,580,597
Announcement Date 01/03/21 27/02/22 24/02/23 23/02/24 26/02/25 25/02/26
1THB in Million2THB
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
57.17x2.64x25.17x0.07% 99.62B
11.62x1.01x5.53x5.03% 65.88B
34.7x4.37x23.7x0.19% 59.21B
24.76x1.92x18.92x1.19% 52.66B
48.38x3.9x24.64x2% 37.76B
23.48x1.6x14.78x0.2% 33.92B
27.15x0.68x11.23x2.27% 33.56B
21.83x0.43x6.79x2.83% 28.72B
5.01x0.31x5.98x5.63% 26.71B
Average 28.23x 1.87x 15.19x 2.16% 48.67B
Weighted average by Cap. 32.22x 2.13x 16.97x 1.83%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA