Company Valuation: ARIP

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 195.7 456.7 424.1 377.5 256.3 205
Change - 133.33% -7.14% -10.99% -32.1% -20%
Enterprise Value (EV) 1 112.3 356 314 260.4 165.8 89.29
Change - 217.17% -11.81% -17.05% -36.36% -46.14%
P/E 54.9x 87.8x 35x 29.9x 30.9x 18.4x
PBR 0.94x 2.14x 1.88x 1.65x 1.13x 0.89x
PEG - 1.9x 0x 6.99x -0.9x 0.5x
Capitalization / Revenue 0.87x 2.7x 1.87x 1.53x 1.19x 0.79x
EV / Revenue 0.5x 2.1x 1.39x 1.05x 0.77x 0.35x
EV / EBITDA 16.5x 44.4x 18.5x 14.3x 12x 4.99x
EV / EBIT 25.1x 57.5x 21.9x 18.3x 20.8x 7.09x
EV / FCF 2.66x 31.9x 14.1x 18.2x 108x 4.33x
FCF Yield 37.6% 3.13% 7.11% 5.5% 0.93% 23.1%
Dividend per Share 2 - - 0.0215 0.0215 0.0169 0.02
Rate of return - - 2.36% 2.65% 3.07% 4.55%
EPS 2 0.007645 0.0112 0.026 0.0271 0.0178 0.024
Distribution rate - - 82.8% 79.4% 94.8% 83.4%
Net sales 1 224.8 169.2 226.5 247 216.2 258
EBITDA 1 6.823 8.014 17.01 18.27 13.82 17.89
EBIT 1 4.471 6.195 14.34 14.2 7.982 12.59
Net income 1 3.563 5.202 12.1 12.62 8.304 11.17
Net Debt 1 -83.47 -100.7 -110.1 -117 -90.54 -115.8
Reference price 2 0.4200 0.9800 0.9100 0.8100 0.5500 0.4400
Nbr of stocks (in thousands) 466,000 466,000 466,000 466,000 466,000 466,000
Announcement Date 22/2/21 22/2/22 23/2/23 23/2/24 20/2/25 24/2/26
1THB in Million2THB
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 6.53M
37.1x6.76x24x0.93% 81.44B
38.96x1.29x13.92x0.96% 17.31B
20.16x2.06x10.15x3.65% 14.22B
25.4x2.84x12.14x2.94% 12.23B
24.76x3.46x13.31x2.34% 7.94B
15.43x0.66x9.25x1.39% 7.05B
10.41x1.22x6.53x2.02% 6.21B
21.8x2.35x11.08x-.--% 5.62B
18.83x0.4x9.3x3.96% 5.41B
Average 23.65x 2.34x 12.19x 2.02% 15.74B
Weighted average by Cap. 31.05x 4.40x 17.87x 1.54%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA