Company Valuation: Thai Steel Cable

Data adjusted to current consolidation scope
Fiscal Period: September 2020 2021 2022 2023 2024 2025
Market Cap 1 2,390 2,910 3,507 3,611 3,689 3,585
Change - 21.74% 20.54% 2.96% 2.16% -2.82%
Enterprise Value (EV) 1 2,000 2,479 3,119 3,195 3,166 3,018
Change - 23.94% 25.81% 2.45% -0.89% -4.69%
P/E 29x 12.3x 16.8x 13x 12.5x 10.4x
PBR 1.52x 1.83x 2.27x 2.32x 2.4x 2.28x
PEG - 0x -1.4x 0.4x 2.1x 0.6x
Capitalization / Revenue 1.17x 1.11x 1.33x 1.24x 1.37x 1.42x
EV / Revenue 0.98x 0.95x 1.18x 1.1x 1.18x 1.2x
EV / EBITDA 9.79x 7.08x 9.69x 8.48x 8.79x 7.32x
EV / EBIT 22.9x 10.4x 14.5x 11.8x 12.8x 9.57x
EV / FCF 34.2x 13.5x 19.9x 15.4x 12.1x 13.8x
FCF Yield 2.92% 7.4% 5.03% 6.51% 8.27% 7.26%
Dividend per Share 2 0.5 1 1 1.2 1.2 1.2
Rate of return 5.43% 8.93% 7.41% 8.63% 8.45% 8.7%
EPS 2 0.317 0.9126 0.803 1.072 1.136 1.33
Distribution rate 158% 110% 125% 112% 106% 90.2%
Net sales 1 2,049 2,613 2,644 2,907 2,683 2,517
EBITDA 1 204.3 350.2 321.7 376.6 360.1 412.2
EBIT 1 87.42 237.4 215.2 270.6 246.8 315.2
Net income 1 82.36 237.1 208.6 278.6 295.2 346.4
Net Debt 1 -390.1 -430.9 -388.7 -416.3 -522.7 -567.4
Reference price 2 9.20 11.20 13.50 13.90 14.20 13.80
Nbr of stocks (in thousands) 259,800 259,800 259,800 259,800 259,800 259,800
Announcement Date 11/24/20 A 11/23/21 A 11/22/22 A 11/21/23 A 11/21/24 A 11/18/25 A
1THB in Million2THB
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 114M
17.82x1.92x10.55x1.67% 68.91B
14.28x0.99x7.66x2.67% 32.87B
11.8x0.59x5.25x3.93% 29.56B
11.87x0.5x3.54x5.17% 26.15B
8x0.45x5.86x1.99% 23.02B
15.87x2.73x9.69x3.84% 20.11B
29.32x1.17x12.33x0.62% 17.66B
10.61x0.51x4.89x3.02% 17.4B
20.87x0.87x10.6x3.41% 17.18B
Average 15.61x 1.08x 7.82x 2.92% 25.3B
Weighted average by Cap. 15.51x 1.21x 8.07x 2.77%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Thai Steel Cable

Historical PBR trend

Valuation ratios - PBR - Thai Steel Cable

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Thai Steel Cable

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Thai Steel Cable

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