Company Valuation: Triple i Logistics

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 9,249 9,141 7,813 4,383 3,120 4,034 - -
Change - -1.16% -14.54% -43.89% -28.83% 29.31% - -
Enterprise Value (EV) 1 9,697 9,254 8,037 4,714 3,560 4,428 4,187 3,958
Change - -4.57% -13.15% -41.35% -24.48% 24.38% -5.44% -5.47%
P/E 26.4x 11.8x 9.43x 9.93x 7.97x 9.91x 9.05x 8.61x
PBR 5.3x 3.42x 2.06x 1.12x 0.79x 1.01x 0.96x 0.91x
PEG - 0.1x -1.59x -0.2x -0.82x 2.44x 0.96x 1.66x
Capitalization / Revenue 3.15x 3.28x 4.43x 1.83x 1.26x 1.61x 1.5x 1.42x
EV / Revenue 3.3x 3.32x 4.55x 1.97x 1.44x 1.76x 1.56x 1.4x
EV / EBITDA 28.2x 25.9x 57.1x 36.7x 25.3x 24.8x 20.5x 18.9x
EV / EBIT 39.8x 34.5x 127x 94.3x 55.8x 55.3x 39.1x 33.8x
EV / FCF 104x 27.8x -31.9x 37.4x 24.8x 7.11x 6.4x 5.92x
FCF Yield 0.96% 3.59% -3.14% 2.67% 4.02% 14.1% 15.6% 16.9%
Dividend per Share 2 0.4 - 0.38 0.32 0.25 0.27 0.3 0.31
Rate of return 2.68% - 3.82% 5.71% 6.16% 5.14% 5.71% 5.9%
EPS 2 0.5634 1.121 1.055 0.5639 0.5093 0.53 0.58 0.61
Distribution rate 71% - 36% 56.7% 49.1% 50.9% 51.7% 50.8%
Net sales 1 2,939 2,789 1,764 2,398 2,478 2,513 2,690 2,833
EBITDA 1 344.1 357.7 140.6 128.3 141 178.5 204 209
EBIT 1 243.8 268.2 63.39 50 63.79 80 107 117
Net income 1 377.3 795.7 866.2 441.4 393.6 429.5 468 495
Net Debt 1 448.7 112.9 224.5 330.6 440.4 394 153 -76
Reference price 2 14.900 13.200 9.950 5.600 4.060 5.250 5.250 5.250
Nbr of stocks (in thousands) 620,710 692,532 785,181 782,753 768,356 768,356 - -
Announcement Date 23/2/22 21/2/23 21/2/24 19/2/25 27/2/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.66x0.94x4.34x3.67% 4.49B
30.08x1.92x6.11x1.81% 907M
9.91x1.76x24.81x5.14% 122M
Average 16.88x 1.54x 11.75x 3.54% 1.84B
Weighted average by Cap. 13.84x 1.12x 5.08x 3.4%

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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  5. Valuation Triple i Logistics