Valuation AP (Thailand)

Stocks

End-of-day quote Thailand S.E. 02/10/2026			5-day change	1st Jan Change
7.800 ^THB	0.00%		-1.27%	-9.30%

13/08	AP Public Company Limited Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI
30/07	KGI Securities Upgrades AP Thailand to Outperform from Neutral; Price Target is THB9.40	MT

Data adjusted to current consolidation scope

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Market Cap ¹	30,043	36,492	35,549	25,482	27,055	24,538	-	-
Change	-	21.47%	-2.59%	-28.32%	6.17%	-9.3%	-	-
Enterprise Value (EV) ¹	48,921	57,612	67,592	55,277	49,917	54,373	53,709	50,019
Change	-	17.77%	17.32%	-18.22%	-9.7%	8.93%	-1.22%	-6.87%
P/E	6.63x	6.2x	5.89x	5.06x	6.28x	5.39x	4.99x	4.23x
PBR	0.93x	0.99x	0.87x	0.58x	0.59x	0.5x	0.47x	0.44x
PEG	-	0.2x	2.2x	-0.3x	-0.4x	0.96x	0.62x	0.2x
Capitalization / Revenue	0.94x	0.95x	0.93x	0.69x	0.72x	0.62x	0.59x	0.58x
EV / Revenue	1.54x	1.49x	1.78x	1.49x	1.34x	1.36x	1.3x	1.18x
EV / EBITDA	10.3x	9.44x	10.4x	9.68x	9.19x	9.88x	9.09x	7.94x
EV / EBIT	10.5x	9.92x	10.9x	10.2x	9.6x	10.7x	9.96x	8.62x
EV / FCF	25.5x	-28.4x	-6.2x	21.8x	27.9x	20.1x	15.9x	15.6x
FCF Yield	3.92%	-3.53%	-16.1%	4.59%	3.58%	4.97%	6.27%	6.4%
Dividend per Share ²	0.5	0.65	0.7	0.6	0.52	0.5505	0.6014	0.6438
Rate of return	5.24%	5.6%	6.19%	7.41%	6.05%	7.06%	7.71%	8.25%
EPS ²	1.44	1.87	1.92	1.6	1.37	1.447	1.563	1.846
Distribution rate	34.7%	34.8%	36.5%	37.5%	38%	38%	38.5%	34.9%
Net sales ¹	31,794	38,539	38,045	36,988	37,345	39,878	41,338	42,502
EBITDA ¹	4,760	6,101	6,500	5,712	5,433	5,502	5,910	6,300
EBIT ¹	4,668	5,810	6,210	5,437	5,197	5,062	5,392	5,804
Net income ¹	4,543	5,877	6,054	5,020	4,317	4,551	4,926	5,285
Net Debt ¹	18,877	21,120	32,043	29,795	22,862	29,835	29,171	25,481
Reference price ²	9.550	11.600	11.300	8.100	8.600	7.800	7.800	7.800
Nbr of stocks (in thousands)	3,145,899	3,145,899	3,145,899	3,145,899	3,145,899	3,145,899	-	-
Announcement Date	22/2/22	21/2/23	20/2/24	27/2/25	27/2/26	-	-	-

¹THB in Million²THB

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
AP (THAILAND)	5.39x	1.36x	9.88x	7.06%	731M
VINGROUP	60.56x	-	-	-	64.64B
SUN HUNG KAI PROPERTIES LIMITED	13.75x	4.48x	12.05x	3.68%	39.14B
EMAAR PROPERTIES	5.61x	0.73x	1.51x	8.77%	27.43B
CHINA RESOURCES LAND LIMITED	8.05x	1.45x	8.04x	4.4%	26.73B
MITSUBISHI ESTATE CO., LTD.	17.28x	3.88x	15.6x	1.42%	26.68B
MITSUI FUDOSAN CO., LTD.	13.18x	3.02x	14.44x	2.65%	24.33B
VINHOMES	9.11x	3.35x	7.66x	-.--%	21.47B
CK ASSET HOLDINGS LIMITED	10.19x	2x	8.23x	4.12%	20.47B
ALPHA DHABI HOLDING	7.95x	0.88x	3.21x	2.81%	20.33B
Average	15.11x	2.35x	8.96x	3.88%	27.2B
Weighted average by Cap.	22.70x	2.62x	9.17x	3.63%