Company Valuation: Thai Oil

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 100,981 125,653 120,069 63,106 80,418 98,289 - -
Change - 24.43% -4.44% -47.44% 27.43% 22.22% - -
Enterprise Value (EV) 1 269,433 257,808 269,900 197,723 145,510 188,763 196,957 187,362
Change - -4.31% 4.69% -26.74% -26.41% 29.73% 4.34% -4.87%
P/E Ratio 8.02x 3.6x 6.18x 6.33x 5.51x 5.17x 7.25x 6.2x
PBR 0.84x 0.83x 0.73x 0.39x 0.47x 0.51x 0.49x 0.48x
PEG - 0x -0.1x -0.1x 0.1x 0.2x -0.3x 0.4x
Capitalization / Revenue 0.29x 0.24x 0.26x 0.14x 0.2x 0.22x 0.23x 0.2x
EV / Revenue 0.78x 0.49x 0.58x 0.42x 0.37x 0.43x 0.46x 0.38x
EV / EBITDA 8.89x 4.96x 7.22x 9.42x 8.23x 6.2x 6.43x 5.15x
EV / EBIT 11.8x 5.82x 9.13x 15.3x 15.1x 7.43x 9.46x 7.6x
EV / FCF -10.9x 22.8x 19.9x 6.5x 3.79x -8.6x -49.9x 11.8x
FCF Yield -9.15% 4.39% 5.03% 15.4% 26.4% -11.6% -2% 8.49%
Dividend per Share 2 2.6 4 3.4 1.9 1.8 2.487 2.248 2.828
Rate of return 5.25% 7.11% 6.33% 6.73% 5% 5.65% 5.11% 6.43%
EPS 2 6.17 15.63 8.7 4.46 6.53 8.504 6.069 7.093
Distribution rate 42.1% 25.6% 39.1% 42.6% 27.6% 29.2% 37% 39.9%
Net sales 1 345,496 529,589 469,244 466,777 395,682 437,741 426,501 494,743
EBITDA 1 30,309 52,014 37,359 20,999 17,686 30,445 30,616 36,368
EBIT 1 22,885 44,270 29,560 12,893 9,621 25,395 20,819 24,663
Net income 1 12,578 32,668 19,443 9,959 11,852 19,072 14,251 15,865
Net Debt 1 168,451 132,155 149,832 134,617 65,092 90,475 98,668 89,073
Reference price 2 49.50 56.25 53.75 28.25 36.00 44.00 44.00 44.00
Nbr of stocks (in thousands) 2,040,028 2,233,836 2,233,836 2,233,836 2,233,836 2,233,836 - -
Announcement Date 2/15/22 A 2/10/23 A 2/14/24 A 2/14/25 A 2/12/26 A - - -
1THB in Million2THB
Estimates

P/E Ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
12.38x1.57x7.02x2.82% 609B
20.19x1.68x9.62x0.5% 184B
8.03x0.57x2.8x4.77% 111B
10.4x0.29x4.66x6.85% 83.72B
7.57x0.69x5.9x1.55% 76.95B
8.31x0.6x5.58x1.86% 76.81B
9.08x1.75x4.66x2.82% 72.74B
8.84x0.58x6.69x2.82% 71.95B
11.78x1.38x7.59x2.03% 58.8B
Average 10.73x 1.01x 6.06x 2.89% 149.46B
Weighted average by Cap. 12.07x 1.26x 6.61x 2.75%

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

- 40% : Our Best Subscriber-Only Tools to Spot Tomorrow’s Top Investments!
d
:
:
SEIZE THE OFFER!