Company Valuation: KCE Electronics

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 103,980 54,961 65,015 28,961 21,514 78,018 - -
Change - -47.14% 18.29% -55.45% -25.71% 262.64% - -
Enterprise Value (EV) 1 105,683 57,642 65,475 28,511 20,981 77,696 77,451 77,829
Change - -45.46% 13.59% -56.45% -26.41% 270.31% -0.31% 0.49%
P/E 42.9x 23.7x 37.9x 17.6x 26x 56.8x 39x 36.8x
PBR 7.75x 4.1x 4.75x 2.11x 1.64x 5.9x 5.66x 5.43x
PEG - -5.4x -1.5x -4.25x -0.5x 0.9x 0.9x 6.08x
Capitalization / Revenue 6.96x 2.98x 3.98x 1.95x 1.65x 5.3x 4.65x 4.45x
EV / Revenue 7.07x 3.12x 4.01x 1.92x 1.6x 5.28x 4.62x 4.43x
EV / EBITDA 28.3x 17.3x 24x 11.3x 11.5x 28.6x 22.2x 21.6x
EV / EBIT 39x 26x 40.2x 19.6x 28.9x 50.6x 35.2x 33.8x
EV / FCF 10,304x 56.8x 17.4x 11.4x 13.2x 46x 46.6x 28.1x
FCF Yield 0.01% 1.76% 5.76% 8.8% 7.56% 2.17% 2.15% 3.56%
Dividend per Share 2 1 1.6 1.2 1.3 1.2 1.18 1.395 1.421
Rate of return 1.14% 3.44% 2.18% 5.31% 6.59% 1.79% 2.11% 2.15%
EPS 2 2.05 1.96 1.45 1.39 0.7 1.162 1.691 1.793
Distribution rate 48.8% 81.6% 82.8% 93.5% 171% 102% 82.5% 79.2%
Net sales 1 14,938 18,456 16,344 14,833 13,075 14,723 16,764 17,549
EBITDA 1 3,733 3,328 2,724 2,522 1,824 2,718 3,488 3,610
EBIT 1 2,709 2,214 1,629 1,455 725 1,534 2,203 2,300
Net income 1 2,426 2,317 1,720 1,648 832.7 1,381 2,001 2,119
Net Debt 1 1,703 2,680 460.4 -449.9 -533 -322 -566.5 -188.5
Reference price 2 88.00 46.50 55.00 24.50 18.20 66.00 66.00 66.00
Nbr of stocks (in thousands) 1,181,590 1,181,966 1,182,089 1,182,089 1,182,089 1,182,089 - -
Announcement Date 8/2/22 7/2/23 13/2/24 24/2/25 10/2/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
50.35x4.67x25.32x2.02% 2.09B
21.96x12.44x18.83x0.35% 5,273B
22.82x11.2x15.18x1.11% 2,007B
39.14x16.49x24.22x0.72% 1,722B
13.45x8.18x9.88x0.05% 1,104B
5.3x3.38x4.09x0.28% 1,004B
88.1x15.93x60.48x-.--% 822B
-43.46x8.72x24.29x-.--% 527B
203.3x44.07x89.86x-.--% 271B
Average 44.55x 13.90x 30.24x 0.5% 1,415B
Weighted average by Cap. 27.80x 12.45x 21.48x 0.44%

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

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