Company Valuation: AP (Thailand)

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 30,043 36,492 35,549 25,482 27,055 26,426 - -
Change - 21.47% -2.59% -28.32% 6.17% -2.33% - -
Enterprise Value (EV) 1 48,921 57,612 67,592 55,277 49,917 54,643 55,752 51,822
Change - 17.77% 17.32% -18.22% -9.7% 9.47% 2.03% -7.05%
P/E 6.63x 6.2x 5.89x 5.06x 6.28x 5.93x 5.36x 5.07x
PBR 0.93x 0.99x 0.87x 0.58x 0.59x 0.54x 0.51x 0.48x
PEG - 0.2x 2.2x -0.3x -0.4x 1.77x 0.5x 0.9x
Capitalization / Revenue 0.94x 0.95x 0.93x 0.69x 0.72x 0.67x 0.65x 0.63x
EV / Revenue 1.54x 1.49x 1.78x 1.49x 1.34x 1.38x 1.36x 1.24x
EV / EBITDA 10.3x 9.44x 10.4x 9.68x 9.19x 10.1x 9.59x 7.96x
EV / EBIT 10.5x 9.92x 10.9x 10.2x 9.6x 10.6x 10.3x 8.79x
EV / FCF 25.5x -28.4x -6.2x 21.8x 27.9x 19.8x 15.8x 15.6x
FCF Yield 3.92% -3.53% -16.1% 4.59% 3.58% 5.06% 6.32% 6.4%
Dividend per Share 2 0.5 0.65 0.7 0.6 0.52 0.55 0.5967 0.6667
Rate of return 5.24% 5.6% 6.19% 7.41% 6.05% 6.55% 7.1% 7.94%
EPS 2 1.44 1.87 1.92 1.6 1.37 1.416 1.567 1.656
Distribution rate 34.7% 34.8% 36.5% 37.5% 38% 38.8% 38.1% 40.3%
Net sales 1 31,794 38,539 38,045 36,988 37,345 39,713 40,871 41,827
EBITDA 1 4,760 6,101 6,500 5,712 5,433 5,403 5,815 6,511
EBIT 1 4,668 5,810 6,210 5,437 5,197 5,142 5,414 5,898
Net income 1 4,543 5,877 6,054 5,020 4,317 4,473 4,947 5,220
Net Debt 1 18,877 21,120 32,043 29,795 22,862 28,217 29,327 25,396
Reference price 2 9.550 11.600 11.300 8.100 8.600 8.400 8.400 8.400
Nbr of stocks (in thousands) 3,145,899 3,145,899 3,145,899 3,145,899 3,145,899 3,145,899 - -
Announcement Date 2/22/22 A 2/21/23 A 2/20/24 A 2/27/25 A 2/27/26 A - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
5.65x1.41x10.36x6.61% 775M
57.38x - - - 62.03B
9.35x3.58x7.21x-.--% 23.27B
7.99x16.28x19.3x6.04% 20.53B
4.23x0.1x0.19x8.18% 14.4B
8.5x16.98x - 6.22% 8.43B
7.72x0.79x6.58x2.6% 5.74B
-2.03x1.61x-237.8x-.--% 5.51B
6.18x13.75x20.09x5.8% 4.55B
9.3x0.56x7.3x4.09% 3.97B
Average 11.43x 6.12x -20.85x 4.39% 14.92B
Weighted average by Cap. 27.99x 7.36x -7.34x 4.1%

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
  2. Stocks
  3. AP Stock
  4. Valuation AP (Thailand)