Company Valuation: Thai Oil

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 100,981 125,653 120,069 63,106 80,418 173,681 - -
Change - 24.43% -4.44% -47.44% 27.43% 115.97% - -
Enterprise Value (EV) 1 269,433 257,808 269,900 197,723 145,510 248,960 256,863 250,077
Change - -4.31% 4.69% -26.74% -26.41% 71.09% 3.17% -2.64%
P/E 8.02x 3.6x 6.18x 6.33x 5.51x 4.7x 9.88x 9.12x
PBR 0.84x 0.83x 0.73x 0.39x 0.47x 0.82x 0.79x 0.74x
PEG - 0x -0.1x -0.1x 0.1x 0x -0.2x 1.09x
Capitalization / Revenue 0.29x 0.24x 0.26x 0.14x 0.2x 0.35x 0.4x 0.36x
EV / Revenue 0.78x 0.49x 0.58x 0.42x 0.37x 0.5x 0.59x 0.52x
EV / EBITDA 8.89x 4.96x 7.22x 9.42x 8.23x 4.3x 7.19x 6.03x
EV / EBIT 11.8x 5.82x 9.13x 15.3x 15.1x 4.98x 9.89x 8.59x
EV / FCF -10.9x 22.8x 19.9x 6.5x 3.79x 25.7x 80.2x 12.3x
FCF Yield -9.15% 4.39% 5.03% 15.4% 26.4% 3.89% 1.25% 8.14%
Dividend per Share 2 2.6 4 3.4 1.9 1.8 4.861 3.283 4.1
Rate of return 5.25% 7.11% 6.33% 6.73% 5% 6.25% 4.22% 5.27%
EPS 2 6.17 15.63 8.7 4.46 6.53 16.54 7.868 8.524
Distribution rate 42.1% 25.6% 39.1% 42.6% 27.6% 29.4% 41.7% 48.1%
Net sales 1 345,496 529,589 469,244 466,777 395,682 496,016 433,331 479,311
EBITDA 1 30,309 52,014 37,359 20,999 17,686 57,925 35,744 41,476
EBIT 1 22,885 44,270 29,560 12,893 9,621 49,959 25,979 29,119
Net income 1 12,578 32,668 19,443 9,959 11,852 36,649 18,433 20,342
Net Debt 1 168,451 132,155 149,832 134,617 65,092 75,279 83,182 76,396
Reference price 2 49.50 56.25 53.75 28.25 36.00 77.75 77.75 77.75
Nbr of stocks (in thousands) 2,040,028 2,233,836 2,233,836 2,233,836 2,233,836 2,233,836 - -
Announcement Date 15/02/22 10/02/23 14/02/24 14/02/25 12/02/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.12x1.66x7.03x2.53% 675B
19.04x1.57x9.18x0.48% 169B
7.01x0.85x5.12x0.94% 124B
7.92x0.8x5.28x1.16% 122B
6.43x0.57x2.56x4.57% 115B
8.67x0.72x6.47x1.89% 108B
10.41x0.34x5.19x6.75% 89.78B
9.34x1.87x4.84x2.49% 79.77B
11.41x1.4x7.41x2.02% 57.78B
Average 10.37x 1.09x 5.90x 2.54% 171.14B
Weighted average by Cap. 11.63x 1.30x 6.39x 2.4%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Thai Oil

Historical PBR trend

Valuation ratios - PBR - Thai Oil

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Thai Oil

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Thai Oil


Year-on-year evolution of the Yield

Valuation ratios - Yield - Thai Oil