Company Valuation: Bangkok Ranch

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 2,081 2,738 2,686 2,393 1,708 1,489
Change - 31.58% -1.93% -10.88% -28.63% -12.83%
Enterprise Value (EV) 1 7,855 7,780 7,404 7,315 6,418 5,345
Change - -0.96% -4.83% -1.21% -12.25% -16.72%
P/E -16.9x -49x 6.96x 7.97x 14.1x 10.5x
PBR 0.51x 0.68x 0.61x 0.51x 0.36x 0.3x
PEG - 0.9x -0x -0.4x -0.2x 0.6x
Capitalization / Revenue 0.34x 0.38x 0.31x 0.3x 0.23x 0.2x
EV / Revenue 1.27x 1.07x 0.86x 0.91x 0.86x 0.71x
EV / EBITDA 26.8x 15.7x 7.05x 7.03x 8.09x 6.82x
EV / EBIT -4,754x 35.6x 9.98x 10.4x 14.2x 11.6x
EV / FCF -72.1x 29.4x 23x -23.3x 19.9x 6.43x
FCF Yield -1.39% 3.4% 4.35% -4.29% 5.04% 15.6%
Dividend per Share 2 - - - - 0.02 0.02
Rate of return - - - - 1.07% 1.23%
EPS 2 -0.135 -0.0612 0.4223 0.3288 0.133 0.1549
Distribution rate - - - - 15% 12.9%
Net sales 1 6,194 7,277 8,563 8,034 7,421 7,559
EBITDA 1 292.9 496.5 1,051 1,041 793.6 784.3
EBIT 1 -1.652 218.8 741.7 705 453.2 460.5
Net income 1 -123.2 -55.83 385.6 300.4 121.5 141.5
Net Debt 1 5,774 5,041 4,719 4,922 4,710 3,856
Reference price 2 2.280 3.000 2.940 2.620 1.870 1.630
Nbr of stocks (in thousands) 912,797 912,797 913,447 913,447 913,447 913,447
Announcement Date 2/26/21 A 3/1/22 A 3/2/23 A 2/28/24 A 2/28/25 A 2/24/26 A
1THB in Million2THB
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
20.4x0.44x7.35x3.98% 17.87B
12.92x0.33x5.6x8.74% 12.39B
15.59x1.42x10.36x6.21% 11.96B
15.03x1.06x9.44x5.93% 10.85B
6.81x0.36x3.22x9.17% 10.64B
8.99x0.5x5.25x6.56% 7.5B
15.67x0.49x6.61x-.--% 6.62B
26.87x0.42x5.49x0.81% 4.48B
10.95x0.42x4.48x1.96% 4.19B
Average 14.80x 0.61x 6.42x 4.82% 9.61B
Weighted average by Cap. 14.84x 0.64x 6.79x 5.51%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA