Financials Digital Telecommunications Infrastructure Fund

Equities

DIF

TH5097010000

Integrated Telecommunications Services

End-of-day quote Thailand S.E. 06:00:00 2024-05-22 pm EDT 5-day change 1st Jan Change
7.9 THB 0.00% Intraday chart for Digital Telecommunications Infrastructure Fund +1.28% +1.94%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2023 2024 2025
Capitalization 1 174,359 137,148 147,780 140,338 83,990 83,990 -
Enterprise Value (EV) 1 200,203 164,548 184,164 175,365 101,363 106,171 104,189
P/E ratio 27.7 x 6.07 x 11.9 x 10.9 x 7.32 x 7.78 x 7.22 x
Yield 6.1% 8% 7.51% 7.91% 11.8% 11.5% 11.2%
Capitalization / Revenue 16.7 x 10.6 x 10 x 9.52 x 5.98 x 5.98 x 5.95 x
EV / Revenue 19.2 x 12.7 x 12.5 x 11.9 x 7.22 x 7.57 x 7.38 x
EV / EBITDA 20.4 x 13.9 x 12.8 x 12.2 x 7.44 x 7.74 x 7.57 x
EV / FCF -4.31 x -32.6 x - - 6.32 x 7.7 x 8.37 x
FCF Yield -23.2% -3.07% - - 15.8% 13% 11.9%
Price to Book 1.08 x 0.79 x 0.85 x 0.8 x 0.48 x 0.5 x 0.5 x
Nbr of stocks (in thousands) 10,631,654 10,631,654 10,631,654 10,631,654 10,631,654 10,631,654 -
Reference price 2 16.40 12.90 13.90 13.20 7.900 7.900 7.900
Announcement Date 2/4/19 2/4/20 3/1/21 2/4/22 - - -
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2023 2024 2025
Net sales 1 10,439 12,938 14,706 14,742 14,035 14,034 14,113
EBITDA 1 9,831 11,810 14,347 14,390 13,620 13,710 13,767
EBIT 1 9,831 11,810 14,347 14,390 13,702 13,718 13,792
Operating Margin 94.17% 91.28% 97.56% 97.61% 97.62% 97.75% 97.73%
Earnings before Tax (EBT) 1 9,855 20,993 13,426 - 11,349 11,442 11,529
Net income 1 9,855 20,992 13,424 12,888 11,507 11,541 11,672
Net margin 94.4% 162.25% 91.28% 87.43% 81.99% 82.23% 82.71%
EPS 2 0.5931 2.125 1.167 1.212 1.079 1.016 1.095
Free Cash Flow 1 -46,419 -5,043 - - 16,033 13,789 12,443
FCF margin -444.66% -38.98% - - 114.23% 98.25% 88.17%
FCF Conversion (EBITDA) - - - - 117.72% 100.58% 90.39%
FCF Conversion (Net income) - - - - 139.33% 119.48% 106.6%
Dividend per Share 2 1.000 1.032 1.044 1.044 0.9287 0.9091 0.8828
Announcement Date 2/4/19 2/4/20 3/1/21 2/4/22 - - -
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2023 2024 2025
Net Debt 1 25,844 27,400 36,384 35,028 17,373 22,181 20,199
Net Cash position 1 - - - - - - -
Leverage (Debt/EBITDA) 2.629 x 2.32 x 2.536 x 2.434 x 1.276 x 1.618 x 1.467 x
Free Cash Flow 1 -46,419 -5,043 - - 16,033 13,789 12,443
ROE (net income / shareholders' equity) 7.16% 6.52% 7.15% 7.23% 6.63% 6.7% 6.63%
ROA (Net income/ Total Assets) 5.61% 5.29% 5.72% 5.67% 5.33% 5.33% 5.4%
Assets 1 175,660 396,842 234,727 227,342 215,754 216,385 216,157
Book Value Per Share 2 15.20 16.20 16.40 16.60 16.40 15.90 15.80
Cash Flow per Share 2 0.5300 1.080 1.660 1.330 1.090 1.080 1.080
Capex 55,238 15,680 - - - - 10
Capex / Sales 529.14% 121.19% - - - - 0.07%
Announcement Date 2/4/19 2/4/20 3/1/21 2/4/22 - - -
1THB in Million2THB
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
5
Last Close Price
7.9 THB
Average target price
10.74 THB
Spread / Average Target
+35.94%
Consensus

Annual profits - Rate of surprise

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