Company Valuation: Thai Union Group

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 90,769 78,672 66,827 55,317 49,345 44,334 - -
Change - -13.33% -15.06% -17.22% -10.8% -10.16% - -
Enterprise Value (EV) 1 152,087 126,000 118,365 115,495 116,015 102,935 101,032 101,416
Change - -17.15% -6.06% -2.42% 0.45% -11.27% -1.85% 0.38%
P/E 11.7x 11.5x -4.76x 12x 11x 10.2x 9.58x 8.71x
PBR 1.53x 0.98x 1.16x 1.14x 1.11x 1.05x 1x 0.94x
PEG - -1x 0x -0x 1.49x -3.18x 1.39x 0.87x
Capitalization / Revenue 0.64x 0.51x 0.49x 0.4x 0.37x 0.33x 0.31x 0.31x
EV / Revenue 1.08x 0.81x 0.87x 0.83x 0.87x 0.76x 0.71x 0.71x
EV / EBITDA 12.2x 10.2x 10.7x 9.97x 11.2x 8.63x 7.96x 7.71x
EV / EBIT 18.4x 15.7x 17.1x 16x 18.8x 14.8x 13.3x 12.4x
EV / FCF 71.8x 237x 18.7x 10.5x 143x 15x 23.5x 18.6x
FCF Yield 1.39% 0.42% 5.34% 9.5% 0.7% 6.65% 4.26% 5.37%
Dividend per Share 2 0.95 0.84 0.54 0.66 0.7 0.6783 0.7449 0.8367
Rate of return 4.87% 4.97% 3.6% 5.08% 5.47% 5.9% 6.48% 7.28%
EPS 2 1.66 1.47 -3.15 1.08 1.16 1.123 1.2 1.32
Distribution rate 57.2% 57.1% -17.1% 61.1% 60.3% 60.4% 62.1% 63.4%
Net sales 1 141,048 155,586 136,153 138,433 132,719 136,200 141,629 143,677
EBITDA 1 12,440 12,374 11,103 11,587 10,380 11,927 12,690 13,158
EBIT 1 8,256 8,050 6,912 7,222 6,170 6,948 7,578 8,195
Net income 1 8,013 7,138 -13,933 4,985 4,609 4,605 5,104 5,562
Net Debt 1 61,318 47,328 51,538 60,178 66,670 58,601 56,698 57,082
Reference price 2 19.50 16.90 15.00 13.00 12.80 11.50 11.50 11.50
Nbr of stocks (in thousands) 4,654,815 4,655,133 4,455,133 4,255,133 3,855,094 3,855,133 - -
Announcement Date 23/02/22 20/02/23 19/02/24 17/02/25 19/02/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.24x0.76x8.63x5.9% 1.36B
14.03x1.79x8.39x4.4% 10.7B
18.52x2.95x9.75x4.27% 7.68B
12.78x0.91x5.79x6.52% 2.59B
14.22x0.65x9.42x2.38% 2.39B
8.6x0.63x3.57x7.77% 1.78B
7.72x0.32x3.79x3.53% 990M
Average 12.30x 1.15x 7.05x 4.97% 3.93B
Weighted average by Cap. 14.42x 1.75x 8.15x 4.65%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

  1. Stock Market
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  3. TU Stock
  4. Valuation Thai Union Group
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