Company Valuation: Thai Mitsuwa

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 1,456 1,416 1,586 2,404 2,155 2,204
Change - -2.74% 11.97% 51.57% -10.37% 2.31%
Enterprise Value (EV) 1 1,193 1,062 922.3 1,434 1,063 1,067
Change - -10.96% -13.18% 55.43% -25.88% 0.46%
P/E 23.9x 11.9x 7.05x 4.36x 4.5x 4.08x
PBR 0.59x 0.56x 0.58x 0.75x 0.61x 0.56x
PEG - 0.1x 0.1x 0x -0.3x 0.3x
Capitalization / Revenue 0.59x 0.46x 0.43x 0.59x 0.55x 0.52x
EV / Revenue 0.48x 0.35x 0.25x 0.35x 0.27x 0.25x
EV / EBITDA 3.61x 3.06x 2.01x 1.73x 1.28x 1.14x
EV / EBIT 10.1x 7.22x 3.68x 2.36x 1.79x 1.64x
EV / FCF 3.74x 64x 2.67x 6.77x 5.32x 5.3x
FCF Yield 26.7% 1.56% 37.5% 14.8% 18.8% 18.9%
Dividend per Share 2 0.46 0.9 1.7 4.15 3.61 4.07
Rate of return 1.26% 2.54% 4.28% 6.89% 6.69% 7.37%
EPS 2 1.525 2.982 5.636 13.82 12 13.54
Distribution rate 30.2% 30.2% 30.2% 30% 30.1% 30%
Net sales 1 2,483 3,079 3,709 4,059 3,919 4,219
EBITDA 1 330.6 347.2 459.3 828 833 935.9
EBIT 1 118 147.1 250.5 607.5 595 651.2
Net income 1 60.84 119 224.9 551.6 479 540.4
Net Debt 1 -263.2 -354.1 -663.7 -970.4 -1,092 -1,137
Reference price 2 36.50 35.50 39.75 60.25 54.00 55.25
Nbr of stocks (in thousands) 39,900 39,900 39,900 39,900 39,900 39,900
Announcement Date 31/05/21 31/05/22 29/05/23 29/05/24 30/05/25 28/05/26
1THB in Million2THB
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
31.6x7.1x18.23x1.25% 236B
29.24x4.51x14.57x2.04% 129B
29.94x3.6x18.66x0.97% 79.88B
19.12x6.82x30.3x3.86% 71.94B
93.95x6.87x16x2.28% 70.46B
88.37x1.31x9.04x5.88% 37.63B
10.82x1.08x5.84x2.85% 33.02B
16.23x1.87x10.87x2.43% 26.4B
17.72x0.88x6.11x4.02% 25.21B
Average 37.44x 3.78x 14.40x 2.84% 78.8B
Weighted average by Cap. 36.89x 5.18x 16.85x 2.19%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Thai Mitsuwa

Historical PBR trend

Valuation ratios - PBR - Thai Mitsuwa

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Thai Mitsuwa

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Thai Mitsuwa