Company Valuation: MBK

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 16,668 18,624 24,720 21,818 28,541 27,046
Change - 11.74% 32.73% -11.74% 30.81% -5.24%
Enterprise Value (EV) 1 43,906 43,967 51,466 54,007 60,539 58,576
Change - 0.14% 17.06% 4.94% 12.09% -3.24%
P/E 115x -22.5x 84.3x 15.6x 11.8x 6.58x
PBR 0.8x 0.91x 1.27x 1.12x 1.36x 1.03x
PEG - 0x -1x 0x 0.2x 0.1x
Capitalization / Revenue 1.98x 2.55x 2.81x 1.89x 2.12x 1.86x
EV / Revenue 5.22x 6.03x 5.84x 4.67x 4.49x 4.04x
EV / EBITDA 18.4x 23.8x 18.4x 13x 10.4x 8.66x
EV / EBIT 44.7x 207x 43.5x 20.5x 14.1x 11.2x
EV / FCF 20.7x 88.1x 19.8x 19.5x 18.5x 12.9x
FCF Yield 4.83% 1.13% 5.05% 5.13% 5.41% 7.74%
Dividend per Share 2 - - 0.8 0.8 0.95 1.1
Rate of return - - 4.52% 5.06% 4.63% 6.29%
EPS 2 0.11 -0.595 0.21 1.01 1.74 2.66
Distribution rate - - 381% 79.2% 54.6% 41.4%
Net sales 1 8,408 7,297 8,812 11,553 13,490 14,512
EBITDA 1 2,385 1,844 2,795 4,159 5,796 6,763
EBIT 1 983.1 212.5 1,182 2,634 4,304 5,240
Net income 1 149.2 -804.5 331.9 1,567 2,686 4,280
Net Debt 1 27,237 25,343 26,746 32,189 31,998 31,530
Reference price 2 12.60 13.40 17.70 15.80 20.50 17.50
Nbr of stocks (in thousands) 1,322,882 1,389,881 1,396,598 1,380,875 1,392,224 1,545,486
Announcement Date 1/3/21 28/2/22 28/2/23 29/2/24 27/2/25 26/2/26
1THB in Million2THB
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 1.03B
15.78x4.97x13.37x3.21% 44.9B
20.45x4.21x17.18x1.22% 30.13B
8.47x1.48x7.57x4.16% 29.81B
5.69x0.63x1.31x8.85% 27.19B
14.69x3.15x15.08x2.39% 26.11B
9.19x2.37x7.3x3.8% 21.66B
15.17x6.87x18.36x1.4% 21.34B
10.27x1.65x14.29x3.68% 18.7B
Average 12.46x 3.17x 11.81x 3.59% 24.54B
Weighted average by Cap. 12.87x 3.28x 11.78x 3.59%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA