Company Valuation: Forth Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 19,830 30,166 21,514 9,915 5,378 13,844 -
Change - 52.12% -28.68% -53.91% -45.75% 157.39% -
Enterprise Value (EV) 1 22,409 30,166 21,514 9,915 5,378 17,402 17,318
Change - 34.61% -28.68% -53.91% -45.75% 223.54% -0.48%
P/E 27.5x 38.9x 37.7x 44.2x 6.53x 14.7x 12.5x
PBR 12x - - - - 3.89x 3.22x
PEG - 4.99x -1.4x -0.7x 0x 1x 0.7x
Capitalization / Revenue 2.33x 3.2x 2.27x 1.13x 0.47x 1.14x 1.08x
EV / Revenue 2.63x 3.2x 2.27x 1.13x 0.47x 1.43x 1.36x
EV / EBITDA 16.8x 19.4x 14.4x 8.54x 2.63x 6.77x 6.14x
EV / EBIT 27.2x 29.6x 25.6x 23.5x 3.97x 9.71x 8.63x
EV / FCF - -41.3x 36.3x -70.7x 5.31x 40.2x 46.9x
FCF Yield - -2.42% 2.75% -1.42% 18.8% 2.49% 2.13%
Dividend per Share 2 0.45 0.52 0.47 - 0.21 0.3 0.35
Rate of return 2.12% 1.61% 2.04% - 3.65% 2.03% 2.36%
EPS 2 0.77 0.83 0.61 0.24 0.88 1.01 1.18
Distribution rate 58.4% 62.7% 77% - 23.9% 29.7% 29.7%
Net sales 1 8,513 9,431 9,492 8,767 11,350 12,134 12,761
EBITDA 1 1,337 1,553 1,493 1,162 2,044 2,572 2,822
EBIT 1 825.1 1,019 840.8 422.6 1,354 1,792 2,007
Net income 1 722.8 774.9 572.6 221.3 823.7 949 1,107
Net Debt 1 2,579 - - - - 3,558 3,474
Reference price 2 21.20 32.25 23.00 10.60 5.75 14.80 14.80
Nbr of stocks (in thousands) 935,375 935,375 935,375 935,375 935,375 935,375 -
Announcement Date 2/28/22 2/27/23 2/28/24 3/2/25 3/2/26 - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.65x1.43x6.77x2.03% 414M
32.83x11.62x21.21x0.84% 117B
46.09x7.74x33.4x1.59% 51.96B
27.29x1.27x14.38x-.--% 41.48B
20.81x1.77x8.69x1.45% 34.1B
29.7x2.14x14.23x1.54% 29.82B
29.68x4.53x18.07x-.--% 28.79B
10.83x6.06x16.79x1.38% 26.76B
30.81x4.78x19.01x0.74% 17.94B
25.04x3.17x13.27x-.--% 17.55B
Average 26.77x 4.45x 16.58x 0.96% 36.61B
Weighted average by Cap. 30.36x 6.49x 19.36x 0.89%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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  3. FORTH Stock
  4. Valuation Forth Corporation