Financials Earth Tech Environment

Equities

ETC

TH9868010009

Independent Power Producers

End-of-day quote Thailand S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
2.48 THB +0.81% Intraday chart for Earth Tech Environment +3.33% -8.82%

Valuation

Fiscal Period: December 2020 2021 2022 2023
Capitalization 1 4,189 6,630 8,781 6,093
Enterprise Value (EV) 1 4,156 6,499 9,040 6,563
P/E ratio 18 x 35.4 x 67 x 197 x
Yield - - - -
Capitalization / Revenue 6.25 x 9.08 x 11.9 x 8.6 x
EV / Revenue 6.2 x 8.9 x 12.2 x 9.26 x
EV / EBITDA 11 x 18.8 x 29 x 25.1 x
EV / FCF 62.2 x 80 x -41.5 x -94.8 x
FCF Yield 1.61% 1.25% -2.41% -1.06%
Price to Book 1.64 x 2.42 x 3.06 x 2.1 x
Nbr of stocks (in thousands) 2,240,000 2,240,000 2,240,000 2,240,000
Reference price 2 1.870 2.960 3.920 2.720
Announcement Date 2/24/21 2/22/22 2/23/23 2/20/24
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 325.2 362.4 670.6 730.2 738.3 708.4
EBITDA 1 171.7 177.9 379.3 344.9 311.6 261.8
EBIT 1 112 102.5 279.4 239.8 201.1 152.5
Operating Margin 34.44% 28.28% 41.67% 32.83% 27.24% 21.52%
Earnings before Tax (EBT) 1 65.38 62.7 201.9 190.1 138.4 35.31
Net income 1 66.96 57.55 194.5 187.4 131.1 31
Net margin 20.59% 15.88% 29% 25.66% 17.75% 4.38%
EPS 2 0.0408 0.0351 0.1039 0.0836 0.0585 0.0138
Free Cash Flow 1 -681.6 100.2 66.87 81.26 -217.6 -69.24
FCF margin -209.57% 27.65% 9.97% 11.13% -29.47% -9.77%
FCF Conversion (EBITDA) - 56.32% 17.63% 23.56% - -
FCF Conversion (Net income) - 174.14% 34.38% 43.37% - -
Dividend per Share - - - - - -
Announcement Date 1/22/20 3/9/20 2/24/21 2/22/22 2/23/23 2/20/24
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 1,193 1,486 - - 259 470
Net Cash position 1 - - 32.4 131 - -
Leverage (Debt/EBITDA) 6.947 x 8.352 x - - 0.8313 x 1.795 x
Free Cash Flow 1 -682 100 66.9 81.3 -218 -69.2
ROE (net income / shareholders' equity) 8.16% 6.57% 11.6% 7.24% 4.81% 1.18%
ROA (Net income/ Total Assets) 3.21% 2.59% 5.27% 3.75% 2.95% 1.97%
Assets 1 2,087 2,219 3,687 4,998 4,442 1,570
Book Value Per Share 2 0.8200 0.5400 1.140 1.220 1.280 1.290
Cash Flow per Share 2 0.1200 0.0200 0.6100 0.5200 0.5500 0.6900
Capex 1 628 - 95.5 97.8 69.7 322
Capex / Sales 193.09% - 14.24% 13.39% 9.45% 45.4%
Announcement Date 1/22/20 3/9/20 2/24/21 2/22/22 2/23/23 2/20/24
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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