Company Valuation: KCE Electronics

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 103,980 54,961 65,015 28,961 21,514 88,657 - -
Change - -47.14% 18.29% -55.45% -25.71% 312.09% - -
Enterprise Value (EV) 1 105,683 57,642 65,475 28,511 20,981 88,335 88,090 88,468
Change - -45.46% 13.59% -56.45% -26.41% 321.02% -0.28% 0.43%
P/E 42.9x 23.7x 37.9x 17.6x 26x 62.1x 39.5x 36.1x
PBR 7.75x 4.1x 4.75x 2.11x 1.64x 6.65x 6.34x 5.98x
PEG - -5.4x -1.5x -4.25x -0.5x 0.9x 0.7x 3.85x
Capitalization / Revenue 6.96x 2.98x 3.98x 1.95x 1.65x 5.89x 4.8x 4.47x
EV / Revenue 7.07x 3.12x 4.01x 1.92x 1.6x 5.87x 4.77x 4.46x
EV / EBITDA 28.3x 17.3x 24x 11.3x 11.5x 32.5x 23.1x 23.8x
EV / EBIT 39x 26x 40.2x 19.6x 28.9x 57.5x 36x 33.1x
EV / FCF 10,304x 56.8x 17.4x 11.4x 13.2x 51.7x 56.6x 33.7x
FCF Yield 0.01% 1.76% 5.76% 8.8% 7.56% 1.93% 1.77% 2.97%
Dividend per Share 2 1 1.6 1.2 1.3 1.2 1.205 1.494 1.425
Rate of return 1.14% 3.44% 2.18% 5.31% 6.59% 1.61% 1.99% 1.9%
EPS 2 2.05 1.96 1.45 1.39 0.7 1.208 1.899 2.076
Distribution rate 48.8% 81.6% 82.8% 93.5% 171% 99.8% 78.7% 68.6%
Net sales 1 14,938 18,456 16,344 14,833 13,075 15,053 18,471 19,832
EBITDA 1 3,733 3,328 2,724 2,522 1,824 2,716 3,806 3,714
EBIT 1 2,709 2,214 1,629 1,455 725 1,536 2,449 2,676
Net income 1 2,426 2,317 1,720 1,648 832.7 1,437 2,245 2,453
Net Debt 1 1,703 2,680 460.4 -449.9 -533 -322 -566.5 -188.5
Reference price 2 88.00 46.50 55.00 24.50 18.20 75.00 75.00 75.00
Nbr of stocks (in thousands) 1,181,590 1,181,966 1,182,089 1,182,089 1,182,089 1,182,089 - -
Announcement Date 2/8/22 A 2/7/23 A 2/13/24 A 2/24/25 A 2/10/26 A - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.43x13.34x20.12x0.32% 5,649B
23.23x11.42x15.48x1.08% 2,035B
38.4x16.23x23.84x0.73% 1,695B
14.63x8.98x10.8x0.05% 1,214B
110.59x20.07x76.37x-.--% 1,035B
5.22x3.39x4.09x0.19% 996B
-51.7x10.3x28.67x-.--% 627B
243.9x53.58x109.14x-.--% 328B
Average 50.96x 17.16x 36.06x 0.3% 1,698B
Weighted average by Cap. 31.65x 13.64x 24.71x 0.41%

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