Company Valuation: Thai Parcels

Data adjusted to current consolidation scope
Fiscal Period: December 2023 2024 2025
Market Cap 1 728.4 429.7 1,002
Change - -41.01% 133.13%
Enterprise Value (EV) 1 509.4 305.2 1,758
Change - -40.08% 475.88%
P/E -205x 142x -4.93x
PBR 0.9x 0.53x 0.59x
PEG 2x -1x 0x
Capitalization / Revenue 1.45x 0.85x 1.55x
EV / Revenue 1.01x 0.6x 2.71x
EV / EBITDA 20.4x 8.13x 70.7x
EV / EBIT -332x 24.5x -31.2x
EV / FCF -29.9x 6.35x 92.2x
FCF Yield -3.35% 15.7% 1.08%
Dividend per Share 2 - - -
Rate of return - - -
EPS 2 -0.006771 0.005767 -0.1034
Distribution rate - - -
Net sales 1 502 507.5 648.3
EBITDA 1 24.92 37.53 24.87
EBIT 1 -1.533 12.45 -56.28
Net income 1 -3.154 3.022 -79.44
Net Debt 1 -219 -124.5 756
Reference price 2 1.3900 0.8200 0.5100
Nbr of stocks (in thousands) 524,000 524,000 1,964,161
Announcement Date 27/2/24 26/2/25 2/3/26
1THB in Million2THB
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.88x9.24x28.58x4.96% 40.28B
13.82x0.4x3.85x2.97% 24.81B
11.71x1.72x6.11x3.58% 17.56B
10.54x0.7x5.67x2.31% 9.38B
10.73x0.39x5.18x1.18% 3.19B
16.09x0.88x6.73x5.89% 2.41B
13.34x0.5x3.34x2.81% 965M
Average 12.87x 1.98x 8.49x 3.39% 14.08B
Weighted average by Cap. 13.11x 4.29x 14.64x 3.84%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA