Financials Thai Union Group

Equities

TU

TH0450010Y08

Food Processing

End-of-day quote Thailand S.E. 23:00:00 18/06/2024 BST 5-day change 1st Jan Change
15.3 THB -0.65% Intraday chart for Thai Union Group -1.29% +2.00%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 64,420 63,305 90,769 78,672 66,827 65,333 - -
Enterprise Value (EV) 1 118,285 115,434 152,087 126,000 118,365 112,559 108,853 105,826
P/E ratio 16.9 x 10.8 x 11.7 x 11.5 x -4.76 x 12.5 x 11.2 x 10.4 x
Yield 3.48% 5.29% 4.87% 4.97% 3.6% 4.22% 4.73% 4.91%
Capitalization / Revenue 0.51 x 0.48 x 0.64 x 0.51 x 0.49 x 0.46 x 0.44 x 0.43 x
EV / Revenue 0.94 x 0.87 x 1.08 x 0.81 x 0.87 x 0.8 x 0.73 x 0.69 x
EV / EBITDA 16.3 x 9.25 x 12.2 x 10.2 x 10.7 x 8.73 x 7.99 x 7.48 x
EV / FCF 16.5 x 12.1 x 71.8 x 237 x 18.7 x 10.1 x 19.6 x 18.7 x
FCF Yield 6.05% 8.3% 1.39% 0.42% 5.34% 9.88% 5.1% 5.35%
Price to Book 1.33 x 1.24 x 1.53 x 0.98 x 1.16 x 1.18 x 1.09 x 1.1 x
Nbr of stocks (in thousands) 4,771,815 4,654,815 4,654,815 4,655,133 4,455,133 4,270,139 - -
Reference price 2 13.50 13.60 19.50 16.90 15.00 15.30 15.30 15.30
Announcement Date 17/02/20 22/02/21 23/02/22 20/02/23 19/02/24 - - -
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 126,275 132,402 141,048 155,586 136,153 141,573 149,577 152,967
EBITDA 1 7,264 12,482 12,440 12,374 11,103 12,900 13,630 14,140
EBIT 1 3,573 8,527 8,256 8,050 6,912 8,355 8,858 9,579
Operating Margin 2.83% 6.44% 5.85% 5.17% 5.08% 5.9% 5.92% 6.26%
Earnings before Tax (EBT) 1 4,428 7,279 9,013 7,593 5,813 6,750 7,585 8,353
Net income 1 3,816 6,246 8,013 7,138 -13,933 5,706 6,359 6,864
Net margin 3.02% 4.72% 5.68% 4.59% -10.23% 4.03% 4.25% 4.49%
EPS 2 0.8000 1.260 1.660 1.470 -3.150 1.224 1.361 1.474
Free Cash Flow 1 7,151 9,578 2,118 530.6 6,317 11,124 5,547 5,664
FCF margin 5.66% 7.23% 1.5% 0.34% 4.64% 7.86% 3.71% 3.7%
FCF Conversion (EBITDA) 98.44% 76.73% 17.03% 4.29% 56.9% 86.23% 40.7% 40.06%
FCF Conversion (Net income) 187.39% 153.34% 26.44% 7.43% - 194.94% 87.23% 82.53%
Dividend per Share 2 0.4700 0.7200 0.9500 0.8400 0.5400 0.6460 0.7230 0.7508
Announcement Date 17/02/20 22/02/21 23/02/22 20/02/23 19/02/24 - - -
1THB in Million2THB
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 64,154 - 38,501 36,272 38,946 75,217 40,756 39,613 32,652 34,057 66,709 33,915 35,529 33,220 35,500 36,570 35,867
EBITDA - - 3,065 2,688 2,713 5,402 3,521 3,451 1,844 2,814 4,658 3,217 3,227 2,612 - - -
EBIT 3,856 - 1,976 1,667 1,664 3,331 2,335 2,384 795.1 1,773 - 2,188 2,155 1,545 - - -
Operating Margin 6.01% - 5.13% 4.59% 4.27% 4.43% 5.73% 6.02% 2.44% 5.21% - 6.45% 6.07% 4.65% - - -
Earnings before Tax (EBT) 3,165 - 2,043 1,573 1,326 2,898 2,713 2,238 917.3 986.6 - 1,262 - 1,537 - - -
Net income 1 2,732 4,146 1,930 1,746 1,624 3,369 2,530 1,238 1,022 1,029 2,050 1,206 -17,189 1,153 1,395 1,679 1,504
Net margin 4.26% - 5.01% 4.81% 4.17% 4.48% 6.21% 3.13% 3.13% 3.02% 3.07% 3.56% -48.38% 3.47% 3.93% 4.59% 4.19%
EPS 0.5400 0.8600 0.4000 0.3600 0.3300 0.6900 0.5300 0.2500 0.2000 0.2100 0.4100 0.2600 -3.820 0.2400 - - -
Dividend per Share - - - - - 0.4000 - - - - - - - - - - -
Announcement Date 11/08/20 09/08/21 23/02/22 09/05/22 08/08/22 08/08/22 02/11/22 20/02/23 03/05/23 07/08/23 07/08/23 06/11/23 19/02/24 08/05/24 - - -
1THB in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 53,866 52,129 61,318 47,328 51,538 47,226 43,520 40,493
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 7.416 x 4.176 x 4.929 x 3.825 x 4.642 x 3.661 x 3.193 x 2.864 x
Free Cash Flow 1 7,151 9,578 2,118 531 6,317 11,124 5,547 5,664
ROE (net income / shareholders' equity) 8.33% 12.4% 14.4% 10.2% 8.19% 9.63% 10.1% 11.1%
ROA (Net income/ Total Assets) 2.69% 4.36% 5.15% 4.09% 3.28% 3.82% 4.09% 4.43%
Assets 1 141,913 143,243 155,589 174,587 -425,376 149,277 155,292 155,045
Book Value Per Share 2 10.10 10.90 12.70 17.30 13.00 13.00 14.00 13.90
Cash Flow per Share 2 2.460 2.850 1.300 1.260 2.490 2.840 2.280 2.410
Capex 1 4,605 3,855 4,174 5,340 4,925 4,584 4,516 4,509
Capex / Sales 3.65% 2.91% 2.96% 3.43% 3.62% 3.24% 3.02% 2.95%
Announcement Date 17/02/20 22/02/21 23/02/22 20/02/23 19/02/24 - - -
1THB in Million2THB
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
15
Last Close Price
15.3 THB
Average target price
17.21 THB
Spread / Average Target
+12.51%
Consensus
  1. Stock Market
  2. Equities
  3. TU Stock
  4. Financials Thai Union Group