THAI UNION GROUP |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 14.6 THB | -0.68% |
|
+4.29% | -2.67% |
| Apr. 09 | Thai Union Group Public Company Limited Approves Dividend, Payable on April 26, 2024 | CI |
| Feb. 21 | Transcript : Thai Union Group Public Company Limited, 2023 Earnings Call, Feb 21, 2024 |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 64,420 | 63,305 | 90,769 | 78,672 | 66,827 | 63,896 | - | - |
| Enterprise Value (EV) 1 | 118,285 | 115,434 | 152,087 | 126,000 | 118,365 | 112,259 | 110,307 | 105,567 |
| P/E ratio | 16.9 x | 10.8 x | 11.7 x | 11.5 x | -4.76 x | 11.9 x | 10.7 x | 9.64 x |
| Yield | 3.48% | 5.29% | 4.87% | 4.97% | 3.6% | 4.57% | 5.17% | 5.2% |
| Capitalization / Revenue | 0.51 x | 0.48 x | 0.64 x | 0.51 x | 0.49 x | 0.45 x | 0.43 x | 0.42 x |
| EV / Revenue | 0.94 x | 0.87 x | 1.08 x | 0.81 x | 0.87 x | 0.79 x | 0.74 x | 0.69 x |
| EV / EBITDA | 16.3 x | 9.25 x | 12.2 x | 10.2 x | 10.7 x | 8.69 x | 8.08 x | 7.42 x |
| EV / FCF | 16.5 x | 12.1 x | 71.8 x | 237 x | 18.7 x | 12.7 x | 17.7 x | 17.9 x |
| FCF Yield | 6.05% | 8.3% | 1.39% | 0.42% | 5.34% | 7.89% | 5.65% | 5.59% |
| Price to Book | 1.33 x | 1.24 x | 1.53 x | 0.98 x | 1.16 x | 1.1 x | 0.99 x | 1.04 x |
| Nbr of stocks (in thousands) | 4,771,815 | 4,654,815 | 4,654,815 | 4,655,133 | 4,455,133 | 4,376,425 | - | - |
| Reference price 2 | 13.50 | 13.60 | 19.50 | 16.90 | 15.00 | 14.60 | 14.60 | 14.60 |
| Announcement Date | 2/17/20 | 2/22/21 | 2/23/22 | 2/20/23 | 2/19/24 | - | - | - |
1THB in Million2THB
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 126,275 | 132,402 | 141,048 | 155,586 | 136,153 | 142,187 | 150,033 | 153,687 |
| EBITDA 1 | 7,264 | 12,482 | 12,440 | 12,374 | 11,103 | 12,918 | 13,649 | 14,237 |
| EBIT 1 | 3,573 | 8,527 | 8,256 | 8,050 | 6,912 | 7,971 | 8,619 | 9,496 |
| Operating Margin | 2.83% | 6.44% | 5.85% | 5.17% | 5.08% | 5.61% | 5.74% | 6.18% |
| Earnings before Tax (EBT) 1 | 4,428 | 7,279 | 9,013 | 7,593 | 5,813 | 6,771 | 7,548 | 8,107 |
| Net income 1 | 3,816 | 6,246 | 8,013 | 7,138 | -13,933 | 5,698 | 6,385 | 7,058 |
| Net margin | 3.02% | 4.72% | 5.68% | 4.59% | -10.23% | 4.01% | 4.26% | 4.59% |
| EPS 2 | 0.8000 | 1.260 | 1.660 | 1.470 | -3.150 | 1.228 | 1.370 | 1.514 |
| Free Cash Flow 1 | 7,151 | 9,578 | 2,118 | 530.6 | 6,317 | 8,859 | 6,230 | 5,902 |
| FCF margin | 5.66% | 7.23% | 1.5% | 0.34% | 4.64% | 6.23% | 4.15% | 3.84% |
| FCF Conversion (EBITDA) | 98.44% | 76.73% | 17.03% | 4.29% | 56.9% | 68.58% | 45.64% | 41.45% |
| FCF Conversion (Net income) | 187.39% | 153.34% | 26.44% | 7.43% | - | 155.49% | 97.56% | 83.62% |
| Dividend per Share 2 | 0.4700 | 0.7200 | 0.9500 | 0.8400 | 0.5400 | 0.6673 | 0.7550 | 0.7594 |
| Announcement Date | 2/17/20 | 2/22/21 | 2/23/22 | 2/20/23 | 2/19/24 | - | - | - |
1THB in Million2THB
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2021 S1 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 64,154 | - | 35,539 | 38,501 | 36,272 | 38,946 | 75,217 | 40,756 | 39,613 | 32,652 | 34,057 | 66,709 | 33,915 | 35,529 | 33,399 | - |
| EBITDA 1 | - | - | 2,954 | 3,065 | 2,688 | 2,713 | 5,402 | 3,521 | 3,451 | 1,844 | 2,814 | 4,658 | 3,217 | 3,227 | 3,196 | - |
| EBIT 1 | 3,856 | - | 1,885 | 1,976 | 1,667 | 1,664 | 3,331 | 2,335 | 2,384 | 795.1 | 1,773 | - | 2,188 | 2,155 | 1,655 | - |
| Operating Margin | 6.01% | - | 5.3% | 5.13% | 4.59% | 4.27% | 4.43% | 5.73% | 6.02% | 2.44% | 5.21% | - | 6.45% | 6.07% | 4.96% | - |
| Earnings before Tax (EBT) 1 | 3,165 | - | 2,266 | 2,043 | 1,573 | 1,326 | 2,898 | 2,713 | 2,238 | 917.3 | 986.6 | - | 1,262 | - | 1,238 | - |
| Net income 1 | 2,732 | 4,146 | 1,937 | 1,930 | 1,746 | 1,624 | 3,369 | 2,530 | 1,238 | 1,022 | 1,029 | 2,050 | 1,206 | -17,189 | 919.7 | 1,498 |
| Net margin | 4.26% | - | 5.45% | 5.01% | 4.81% | 4.17% | 4.48% | 6.21% | 3.13% | 3.13% | 3.02% | 3.07% | 3.56% | -48.38% | 2.75% | - |
| EPS 2 | 0.5400 | 0.8600 | 0.4000 | 0.4000 | 0.3600 | 0.3300 | 0.6900 | 0.5300 | 0.2500 | 0.2000 | 0.2100 | 0.4100 | 0.2600 | -3.820 | 0.2067 | - |
| Dividend per Share | - | - | - | - | - | - | 0.4000 | - | - | - | - | - | - | - | - | - |
| Announcement Date | 8/11/20 | 8/9/21 | 11/8/21 | 2/23/22 | 5/9/22 | 8/8/22 | 8/8/22 | 11/2/22 | 2/20/23 | 5/3/23 | 8/7/23 | 8/7/23 | 11/6/23 | 2/19/24 | - | - |
1THB in Million2THB
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 53,866 | 52,129 | 61,318 | 47,328 | 51,538 | 48,363 | 46,411 | 41,671 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 7.416 x | 4.176 x | 4.929 x | 3.825 x | 4.642 x | 3.744 x | 3.4 x | 2.927 x |
| Free Cash Flow 1 | 7,151 | 9,578 | 2,118 | 531 | 6,317 | 8,859 | 6,230 | 5,902 |
| ROE (net income / shareholders' equity) | 8.33% | 12.4% | 14.4% | 10.2% | 8.19% | 9.95% | 10.2% | 11% |
| ROA (Net income/ Total Assets) | 2.69% | 4.36% | 5.15% | 4.09% | 3.28% | 3.83% | 4.19% | 4.51% |
| Assets 1 | 141,913 | 143,243 | 155,589 | 174,587 | -425,376 | 148,834 | 152,216 | 156,481 |
| Book Value Per Share 2 | 10.10 | 10.90 | 12.70 | 17.30 | 13.00 | 13.30 | 14.70 | 14.00 |
| Cash Flow per Share 2 | 2.460 | 2.850 | 1.300 | 1.260 | 2.490 | 2.840 | 2.250 | 2.410 |
| Capex 1 | 4,605 | 3,855 | 4,174 | 5,340 | 4,925 | 4,827 | 4,508 | 4,353 |
| Capex / Sales | 3.65% | 2.91% | 2.96% | 3.43% | 3.62% | 3.39% | 3% | 2.83% |
| Announcement Date | 2/17/20 | 2/22/21 | 2/23/22 | 2/20/23 | 2/19/24 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
BUY
Number of Analysts
15
Last Close Price
14.6
THB
Average target price
17.29
THB
Spread / Average Target
+18.40%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -2.67% | 1.73B | |
| +6.15% | 9.05B | |
| +21.22% | 7.39B | |
| +25.16% | 1.88B | |
| +16.25% | 1.58B | |
| +9.76% | 957M | |
| -3.38% | 905M | |
| +19.35% | 656M | |
| -34.47% | 480M | |
| -5.48% | 351M |
- Stock Market
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- TU Stock
- Financials Thai Union Group
