BEC WORLD |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 4.78 THB | -1.65% |
|
+3.91% | -2.05% |
| Apr. 26 | BEC World Public Company Limited Approves Dividend for the Year 2023, Payable on 23 May 2024 | CI |
| Mar. 15 | BEC World Public Company Limited Appoints Piyawadee Maleenont as A Director | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 11,800 | 16,100 | 28,200 | 20,200 | 9,760 | 9,560 | - | - |
| Enterprise Value (EV) 1 | 12,313 | 16,501 | 26,482 | 18,240 | 9,760 | 7,404 | 7,176 | 9,560 |
| P/E ratio | -29.5 x | -73.2 x | 37.1 x | 33.7 x | 44.4 x | 26 x | 24 x | - |
| Yield | - | - | 1.77% | - | - | 1.93% | 2.16% | - |
| Capitalization / Revenue | 1.42 x | 2.75 x | 4.96 x | 3.95 x | 2.1 x | 1.94 x | 1.87 x | 1.72 x |
| EV / Revenue | 1.48 x | 2.82 x | 4.66 x | 3.57 x | 2.1 x | 1.5 x | 1.41 x | 1.72 x |
| EV / EBITDA | 5.21 x | 8.19 x | 8.33 x | 6.66 x | 4.8 x | 3.23 x | 3.16 x | 3.54 x |
| EV / FCF | 5.11 x | 7.52 x | 7.39 x | 20.8 x | - | 3.78 x | 3.6 x | - |
| FCF Yield | 19.6% | 13.3% | 13.5% | 4.82% | - | 26.5% | 27.8% | - |
| Price to Book | 2.1 x | 2.98 x | 4.55 x | 3.24 x | - | 1.4 x | 1.44 x | - |
| Nbr of stocks (in thousands) | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | - | - |
| Reference price 2 | 5.900 | 8.050 | 14.10 | 10.10 | 4.880 | 4.780 | 4.780 | 4.780 |
| Announcement Date | 2/21/20 | 3/1/21 | 2/18/22 | 2/24/23 | 2/23/24 | - | - | - |
1THB in Million2THB
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 8,310 | 5,861 | 5,680 | 5,115 | 4,653 | 4,924 | 5,105 | 5,563 |
| EBITDA 1 | 2,363 | 2,015 | 3,179 | 2,739 | 2,035 | 2,294 | 2,271 | 2,701 |
| EBIT 1 | -708 | -153.2 | 1,090 | 824.4 | 331.2 | 468 | 507.9 | 621.9 |
| Operating Margin | -8.52% | -2.61% | 19.18% | 16.12% | 7.12% | 9.5% | 9.95% | 11.18% |
| Earnings before Tax (EBT) 1 | -511.1 | -205.9 | 992.7 | 727 | 346 | 427 | 497.5 | 542 |
| Net income 1 | -397.2 | -214.3 | 761.6 | 607 | 210 | 337.8 | 401.4 | 472 |
| Net margin | -4.78% | -3.66% | 13.41% | 11.87% | 4.51% | 6.86% | 7.86% | 8.48% |
| EPS 2 | -0.2000 | -0.1100 | 0.3800 | 0.3000 | 0.1100 | 0.1842 | 0.1988 | - |
| Free Cash Flow 1 | 2,410 | 2,195 | 3,584 | 878.6 | - | 1,959 | 1,994 | - |
| FCF margin | 29% | 37.45% | 63.11% | 17.18% | - | 39.79% | 39.06% | - |
| FCF Conversion (EBITDA) | 102.02% | 108.93% | 112.76% | 32.08% | - | 85.39% | 87.79% | - |
| FCF Conversion (Net income) | - | - | 470.62% | 144.74% | - | 579.92% | 496.81% | - |
| Dividend per Share 2 | - | - | 0.2500 | - | - | 0.0922 | 0.1031 | - |
| Announcement Date | 2/21/20 | 3/1/21 | 2/18/22 | 2/24/23 | 2/23/24 | - | - | - |
1THB in Million2THB
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | 1,272 | 1,595 | 1,241 | 1,348 | 2,589 | 1,302 | 1,224 | 995.9 | 1,205 | 2,201 | 1,114 | 1,338 | - |
| EBITDA | 704.3 | 893.7 | 702.8 | 779.7 | 1,441 | 636.4 | 619.8 | 436 | 559.4 | 992.4 | 440.8 | 621.8 | - |
| EBIT | 192.3 | 459.1 | 234.4 | 232.5 | 425.6 | 155.3 | 202.2 | 18.4 | 106.1 | 124.5 | 62.37 | 144.4 | - |
| Operating Margin | 15.12% | 28.78% | 18.89% | 17.25% | 16.44% | 11.93% | 16.52% | 1.85% | 8.8% | 5.65% | 5.6% | 10.79% | - |
| Earnings before Tax (EBT) | 179.5 | 406.8 | 210.8 | 218 | 428.8 | 138.1 | 160.1 | 4.2 | 94.15 | 98.35 | 47.91 | 199.8 | - |
| Net income 1 | 142.9 | 295.2 | 173.8 | 173.1 | 346.9 | 111.3 | 148.8 | 3.7 | 74.88 | 78.62 | 37.91 | 93.47 | 30 |
| Net margin | 11.23% | 18.51% | 14.01% | 12.84% | 13.4% | 8.55% | 12.16% | 0.37% | 6.21% | 3.57% | 3.4% | 6.99% | - |
| EPS | 0.0700 | 0.1500 | 0.0900 | 0.0800 | 0.1700 | 0.0600 | 0.0700 | 0.002000 | 0.0370 | 0.0390 | - | 0.0520 | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/12/21 | 2/18/22 | 5/13/22 | 8/11/22 | 8/11/22 | 11/11/22 | 2/24/23 | 5/12/23 | 8/11/23 | 8/11/23 | 11/10/23 | 2/23/24 | - |
1THB in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 513 | 401 | - | - | - | - | - | - |
| Net Cash position 1 | - | - | 1,718 | 1,960 | - | 2,157 | 2,384 | - |
| Leverage (Debt/EBITDA) | 0.217 x | 0.1989 x | - | - | - | - | - | - |
| Free Cash Flow 1 | 2,410 | 2,195 | 3,584 | 879 | - | 1,959 | 1,994 | - |
| ROE (net income / shareholders' equity) | -6.78% | -3.88% | 13.1% | 17.8% | - | 5.18% | 5.73% | - |
| ROA (Net income/ Total Assets) | -3.09% | -2.05% | 7.68% | 6.09% | - | 3.7% | 4.35% | - |
| Assets 1 | 12,837 | 10,437 | 9,921 | 9,970 | - | 9,130 | 9,227 | - |
| Book Value Per Share 2 | 2.810 | 2.700 | 3.100 | 3.120 | - | 3.420 | 3.330 | - |
| Cash Flow per Share 2 | 1.220 | 1.150 | 1.810 | 1.360 | - | 1.150 | 1.050 | - |
| Capex 1 | 2,470 | 1,740 | 1,424 | 1,841 | - | 1,975 | 2,003 | - |
| Capex / Sales | 29.73% | 29.68% | 25.07% | 35.99% | - | 40.11% | 39.23% | - |
| Announcement Date | 2/21/20 | 3/1/21 | 2/18/22 | 2/24/23 | 2/23/24 | - | - | - |
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
HOLD
Number of Analysts
8
Last Close Price
4.78
THB
Average target price
5.449
THB
Spread / Average Target
+13.99%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -2.05% | 258M | |
| +24.85% | 207B | |
| +9.98% | 16.08B | |
| -19.47% | 8.36B | |
| -15.67% | 7.93B | |
| 0.00% | 4.58B | |
| +37.01% | 4.24B | |
| +11.41% | 3.5B | |
| +0.19% | 3.4B | |
| +46.62% | 2.68B |
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