Financials Dhipaya Group Holdings

Equities

TIPH

THA458010008

Property & Casualty Insurance

End-of-day quote Thailand S.E. 06:00:00 2024-04-29 pm EDT 5-day change 1st Jan Change
30.5 THB +1.67% Intraday chart for Dhipaya Group Holdings +4.27% +5.17%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 13,620 14,520 16,050 45,761 27,337 17,234
Enterprise Value (EV) 1 11,259 12,710 12,375 43,370 25,075 15,726
P/E ratio 8.9 x 7.79 x 7.77 x 25.3 x 23.4 x 9.8 x
Yield 6.17% 6.61% 6.73% 2.6% 5.54% -
Capitalization / Revenue 1.45 x 1.38 x 1.26 x 3.36 x 1.8 x 1.11 x
EV / Revenue 1.2 x 1.21 x 0.97 x 3.19 x 1.65 x 1.02 x
EV / EBITDA 5.73 x 5.39 x 4.62 x 18.4 x 15.7 x 6.7 x
EV / FCF 16.3 x -8.95 x 4.51 x 83.3 x 10.6 x 13.1 x
FCF Yield 6.15% -11.2% 22.2% 1.2% 9.47% 7.64%
Price to Book 1.78 x 1.74 x 1.9 x 4.78 x 2.97 x 1.95 x
Nbr of stocks (in thousands) 600,000 600,000 600,000 594,292 594,292 594,292
Reference price 2 22.70 24.20 26.75 77.00 46.00 29.00
Announcement Date 2/26/19 2/25/20 2/23/21 2/23/22 2/27/23 2/27/24
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 9,385 10,546 12,741 13,613 15,177 15,459
EBITDA 1 1,966 2,358 2,678 2,361 1,596 2,346
EBIT 1 1,858 2,239 2,555 2,244 1,481 2,227
Operating Margin 19.8% 21.23% 20.05% 16.48% 9.76% 14.41%
Earnings before Tax (EBT) 1 1,858 2,239 2,555 2,244 1,470 2,202
Net income 1 1,531 1,863 2,065 1,811 1,166 1,759
Net margin 16.32% 17.67% 16.21% 13.31% 7.68% 11.38%
EPS 2 2.552 3.105 3.441 3.048 1.962 2.961
Free Cash Flow 1 692.5 -1,420 2,742 520.4 2,374 1,201
FCF margin 7.38% -13.47% 21.53% 3.82% 15.64% 7.77%
FCF Conversion (EBITDA) 35.22% - 102.39% 22.05% 148.73% 51.19%
FCF Conversion (Net income) 45.23% - 132.82% 28.73% 203.62% 68.26%
Dividend per Share 2 1.400 1.600 1.800 2.000 2.550 -
Announcement Date 2/26/19 2/25/20 2/23/21 2/23/22 2/27/23 2/27/24
1THB in Million2THB
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 Q3 2022 Q4
Net sales 1 3,643 10,783
EBITDA - -
EBIT - -
Operating Margin - -
Earnings before Tax (EBT) - -
Net income - -
Net margin - -
EPS - -
Dividend per Share - -
Announcement Date 11/10/22 2/27/23
1THB in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 2,361 1,810 3,675 2,391 2,262 1,509
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 693 -1,420 2,742 520 2,374 1,201
ROE (net income / shareholders' equity) 20.1% 23.2% 24.6% 20.2% 12.4% 19.4%
ROA (Net income/ Total Assets) 2.46% 3.26% 3.74% 2.98% 1.76% 2.46%
Assets 1 62,255 57,171 55,200 60,788 66,419 71,481
Book Value Per Share 2 12.80 13.90 14.10 16.10 15.50 14.90
Cash Flow per Share 2 3.940 3.050 6.290 4.160 5.230 4.390
Capex 1 102 230 112 88.7 61.8 124
Capex / Sales 1.08% 2.19% 0.88% 0.65% 0.41% 0.8%
Announcement Date 2/26/19 2/25/20 2/23/21 2/23/22 2/27/23 2/27/24
1THB in Million2THB
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Chiffre d''affaires - Rate of surprise

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