Company Valuation: Thai Oil

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 100,981 125,653 120,069 63,106 80,418 153,018 - -
Change - 24.43% -4.44% -47.44% 27.43% 90.28% - -
Enterprise Value (EV) 1 269,433 257,808 269,900 197,723 145,510 224,627 232,109 227,864
Change - -4.31% 4.69% -26.74% -26.41% 54.37% 3.33% -1.83%
P/E 8.02x 3.6x 6.18x 6.33x 5.51x 3.82x 8.34x 7.86x
PBR 0.84x 0.83x 0.73x 0.39x 0.47x 0.71x 0.68x 0.64x
PEG - 0x -0.1x -0.1x 0.1x 0x -0.2x 1.3x
Capitalization / Revenue 0.29x 0.24x 0.26x 0.14x 0.2x 0.3x 0.35x 0.32x
EV / Revenue 0.78x 0.49x 0.58x 0.42x 0.37x 0.44x 0.53x 0.47x
EV / EBITDA 8.89x 4.96x 7.22x 9.42x 8.23x 3.49x 6.26x 5.36x
EV / EBIT 11.8x 5.82x 9.13x 15.3x 15.1x 3.98x 8.61x 7.69x
EV / FCF -10.9x 22.8x 19.9x 6.5x 3.79x 16.4x 52.3x 9.71x
FCF Yield -9.15% 4.39% 5.03% 15.4% 26.4% 6.11% 1.91% 10.3%
Dividend per Share 2 2.6 4 3.4 1.9 1.8 5.313 3.333 4.19
Rate of return 5.25% 7.11% 6.33% 6.73% 5% 7.76% 4.87% 6.12%
EPS 2 6.17 15.63 8.7 4.46 6.53 17.95 8.213 8.71
Distribution rate 42.1% 25.6% 39.1% 42.6% 27.6% 29.6% 40.6% 48.1%
Net sales 1 345,496 529,589 469,244 466,777 395,682 512,981 439,741 480,695
EBITDA 1 30,309 52,014 37,359 20,999 17,686 64,356 37,080 42,532
EBIT 1 22,885 44,270 29,560 12,893 9,621 56,503 26,961 29,624
Net income 1 12,578 32,668 19,443 9,959 11,852 40,994 19,343 20,410
Net Debt 1 168,451 132,155 149,832 134,617 65,092 71,610 79,092 74,846
Reference price 2 49.50 56.25 53.75 28.25 36.00 68.50 68.50 68.50
Nbr of stocks (in thousands) 2,040,028 2,233,836 2,233,836 2,233,836 2,233,836 2,233,836 - -
Announcement Date 15/2/22 10/2/23 14/2/24 14/2/25 12/2/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
3.82x0.44x3.49x7.76% 4.55B
13.72x1.75x7.27x2.33% 732B
18.74x1.56x9.1x0.49% 173B
7.12x0.89x5.02x0.87% 131B
7.23x0.62x2.63x4.12% 128B
7.91x0.78x5.26x1.11% 126B
8.83x0.75x6.49x1.76% 116B
10.64x0.33x5.06x6.66% 92.39B
8.83x2.02x4.98x2.18% 92.19B
12.05x1.55x7.85x1.8% 65.5B
Average 9.89x 1.07x 5.71x 2.91% 166.1B
Weighted average by Cap. 11.91x 1.36x 6.48x 2.25%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Thai Oil

Historical PBR trend

Valuation ratios - PBR - Thai Oil

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Thai Oil

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Thai Oil


Year-on-year evolution of the Yield

Valuation ratios - Yield - Thai Oil