Financials Thai O.P.P.

Equities

TOPP

TH0228010003

Non-Paper Containers & Packaging

End-of-day quote Thailand S.E. 23:00:00 22/05/2024 BST 5-day change 1st Jan Change
169.5 THB +5.94% Intraday chart for Thai O.P.P. -.--% +7.28%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 1,176 1,080 1,134 963 954 948
Enterprise Value (EV) 1 919.1 709.9 714.4 516.8 505.5 637.6
P/E ratio 12.4 x 9.51 x 8.66 x 10.9 x 11.2 x 8.45 x
Yield 2.38% 3.06% 3.35% 2.52% 2.4% 4.23%
Capitalization / Revenue 0.7 x 0.68 x 0.71 x 0.6 x 0.56 x 0.6 x
EV / Revenue 0.55 x 0.44 x 0.45 x 0.32 x 0.3 x 0.4 x
EV / EBITDA 4.59 x 3.27 x 2.95 x 2.73 x 2.97 x 3.31 x
EV / FCF -69 x 8.33 x 3.94 x 8.62 x 4.89 x -3.61 x
FCF Yield -1.45% 12% 25.4% 11.6% 20.5% -27.7%
Price to Book 0.95 x 0.81 x 0.8 x 0.65 x 0.62 x 0.58 x
Nbr of stocks (in thousands) 6,000 6,000 6,000 6,000 6,000 6,000
Reference price 2 196.0 180.0 189.0 160.5 159.0 158.0
Announcement Date 27/02/19 28/02/20 25/02/21 25/02/22 28/02/23 28/02/24
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 1,673 1,599 1,600 1,603 1,690 1,589
EBITDA 1 200.2 217.2 242.4 189.3 170.2 192.3
EBIT 1 102.6 118.1 140.4 90.32 86.53 114.9
Operating Margin 6.13% 7.38% 8.78% 5.63% 5.12% 7.23%
Earnings before Tax (EBT) 1 105.8 123.2 139.1 92.25 90.79 126
Net income 1 94.83 113.6 130.9 88.04 85.52 112.3
Net margin 5.67% 7.1% 8.18% 5.49% 5.06% 7.06%
EPS 2 15.81 18.93 21.82 14.67 14.25 18.71
Free Cash Flow 1 -13.32 85.25 181.2 59.96 103.4 -176.5
FCF margin -0.8% 5.33% 11.32% 3.74% 6.12% -11.1%
FCF Conversion (EBITDA) - 39.26% 74.74% 31.67% 60.78% -
FCF Conversion (Net income) - 75.07% 138.4% 68.11% 120.94% -
Dividend per Share 2 4.670 5.500 6.330 4.050 3.820 6.680
Announcement Date 27/02/19 28/02/20 25/02/21 25/02/22 28/02/23 28/02/24
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 257 370 420 446 449 310
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 -13.3 85.2 181 60 103 -176
ROE (net income / shareholders' equity) 7.81% 8.82% 9.51% 6.05% 5.64% 7.08%
ROA (Net income/ Total Assets) 4.51% 5.05% 5.48% 3.26% 3.04% 3.84%
Assets 1 2,101 2,251 2,387 2,701 2,817 2,920
Book Value Per Share 2 207.0 222.0 237.0 248.0 258.0 271.0
Cash Flow per Share 2 17.80 6.150 19.60 16.00 46.00 18.40
Capex 1 69.7 118 56.4 26.8 64.2 193
Capex / Sales 4.16% 7.35% 3.52% 1.67% 3.8% 12.13%
Announcement Date 27/02/19 28/02/20 25/02/21 25/02/22 28/02/23 28/02/24
1THB in Million2THB
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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