Financials Absolute Clean Energy

Equities

ACE

TH8906010005

Electric Utilities

End-of-day quote Thailand S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
1.39 THB 0.00% Intraday chart for Absolute Clean Energy +0.72% -9.15%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023
Capitalization 1 42,943 37,041 35,616 27,284 15,416
Enterprise Value (EV) 1 45,866 40,506 39,505 31,929 19,925
P/E ratio 48.2 x 24.6 x 23.7 x 20.8 x 14.4 x
Yield - 1.32% 0.57% - -
Capitalization / Revenue 8.49 x 6.32 x 6.22 x 3.94 x 2.34 x
EV / Revenue 9.07 x 6.91 x 6.9 x 4.62 x 3.03 x
EV / EBITDA 25.4 x 20.2 x 17.7 x 14.8 x 9.59 x
EV / FCF -1,313 x -1,185 x -65.6 x -35 x -81.4 x
FCF Yield -0.08% -0.08% -1.52% -2.86% -1.23%
Price to Book 3.98 x 3.09 x 2.67 x 1.71 x 1.01 x
Nbr of stocks (in thousands) 10,176,000 10,176,000 10,176,000 10,105,030 10,075,634
Reference price 2 4.220 3.640 3.500 2.700 1.530
Announcement Date 2/24/20 2/25/21 2/28/22 2/28/23 2/29/24
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 4,833 5,055 5,858 5,727 6,917 6,583
EBITDA 1 1,570 1,806 2,010 2,232 2,164 2,079
EBIT 1 1,039 1,279 1,471 1,569 1,435 1,338
Operating Margin 21.49% 25.31% 25.11% 27.39% 20.74% 20.32%
Earnings before Tax (EBT) 1 562.1 812.4 1,550 1,608 1,374 1,133
Net income 1 546.6 815.3 1,508 1,506 1,282 1,073
Net margin 11.31% 16.13% 25.74% 26.29% 18.53% 16.29%
EPS 2 0.0597 0.0876 0.1482 0.1480 0.1300 0.1064
Free Cash Flow 1 608.3 -34.94 -34.19 -602 -913 -244.8
FCF margin 12.59% -0.69% -0.58% -10.51% -13.2% -3.72%
FCF Conversion (EBITDA) 38.73% - - - - -
FCF Conversion (Net income) 111.29% - - - - -
Dividend per Share - - 0.0480 0.0200 - -
Announcement Date 4/11/19 2/24/20 2/25/21 2/28/22 2/28/23 2/29/24
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 7,693 2,924 3,465 3,889 4,646 4,510
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 4.899 x 1.618 x 1.724 x 1.742 x 2.147 x 2.17 x
Free Cash Flow 1 608 -34.9 -34.2 -602 -913 -245
ROE (net income / shareholders' equity) 10.3% 9.96% 13.2% 11.9% 9.3% 7.27%
ROA (Net income/ Total Assets) 4.66% 5.71% 6.01% 5.58% 4.62% 4%
Assets 1 11,721 14,291 25,069 27,008 27,748 26,820
Book Value Per Share 2 0.6100 1.060 1.180 1.310 1.580 1.510
Cash Flow per Share 2 0.0100 0.0100 0.0500 0.0900 0.0500 0.1200
Capex 1 333 532 655 1,776 1,769 1,759
Capex / Sales 6.89% 10.51% 11.19% 31.01% 25.58% 26.71%
Announcement Date 4/11/19 2/24/20 2/25/21 2/28/22 2/28/23 2/29/24
1THB in Million2THB
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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