Company Valuation: Siam City Cement

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 46,637 45,743 40,379 48,723 42,465 45,147 - -
Change - -1.92% -11.73% 20.66% -12.84% 6.32% - -
Enterprise Value (EV) 1 65,033 64,269 56,536 63,140 56,897 56,320 52,050 48,739
Change - -1.17% -12.03% 11.68% -9.89% -1.01% -7.58% -6.36%
P/E 11x 24.6x 15.1x 9.04x 12.2x 11x 10.5x 9.64x
PBR 1.24x 1.38x 1.22x 1.4x 1.32x 1.38x 1.33x 1.28x
PEG - -0.4x 0.3x 0x -0.3x 0.6x 2.38x 1.08x
Capitalization / Revenue 1.12x 0.91x 0.96x 1.11x 0.78x 0.81x 0.79x 0.77x
EV / Revenue 1.56x 1.28x 1.34x 1.44x 1.05x 1.01x 0.91x 0.83x
EV / EBITDA 8.08x 10.2x 8.73x 5.83x 5.06x 4.24x 3.86x 3.5x
EV / EBIT 15.7x 25.1x 18.4x 8.95x 9.33x 7.71x 7.14x 5.99x
EV / FCF 10.2x 20.3x 12.6x 10.4x 10.7x 10.3x 7.17x 7.59x
FCF Yield 9.83% 4.93% 7.94% 9.59% 9.38% 9.75% 13.9% 13.2%
Dividend per Share 2 9 9 7 11 11 11 11.52 13
Rate of return 5.75% 5.86% 5.17% 6.73% 7.72% 7.26% 7.6% 8.58%
EPS 2 14.25 6.23 9 18.08 11.72 13.82 14.44 15.72
Distribution rate 63.2% 144% 77.8% 60.8% 93.9% 79.6% 79.8% 82.7%
Net sales 1 41,678 50,126 42,218 43,790 54,198 55,938 57,238 58,933
EBITDA 1 8,046 6,291 6,476 10,837 11,256 13,288 13,475 13,923
EBIT 1 4,153 2,563 3,066 7,054 6,098 7,302 7,290 8,133
Net income 1 4,248 1,857 2,682 5,388 3,493 4,120 4,302 4,684
Net Debt 1 18,396 18,526 16,157 14,417 14,432 11,174 6,904 3,592
Reference price 2 156.50 153.50 135.50 163.50 142.50 151.50 151.50 151.50
Nbr of stocks (in thousands) 298,000 298,000 298,000 298,000 298,000 298,000 - -
Announcement Date 2/11/22 A 2/10/23 A 2/9/24 A 2/27/25 A 2/20/26 A - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
10.96x1.01x4.24x7.26% 1.35B
14.3x1.7x8.3x1.92% 54.25B
17.46x2.4x9.54x2.96% 42.28B
33.49x5.82x17.42x0.72% 33.97B
32.01x3.32x17.06x1.04% 32.45B
27.64x4.33x14.57x0.86% 31.69B
11.26x1.36x6.36x2.73% 27.95B
19.61x6.16x12.86x2.28% 22.85B
66.11x4.14x64.06x0.35% 20.25B
14.69x1.88x7.58x1.48% 19.8B
Average 24.75x 3.21x 16.20x 2.16% 28.68B
Weighted average by Cap. 24.31x 3.27x 15.29x 1.71%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Siam City Cement

Historical PBR trend

Valuation ratios - PBR - Siam City Cement

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Siam City Cement

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Siam City Cement


Year-on-year evolution of the Yield

Valuation ratios - Yield - Siam City Cement
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