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 15,060 -
Change - 52.12% -28.68% -53.91% -45.75% 180% -
Enterprise Value (EV) 1 22,409 30,166 21,514 9,915 5,378 18,618 18,534
Change - 34.61% -28.68% -53.91% -45.75% 246.15% -0.45%
P/E 27.5x 38.9x 37.7x 44.2x 6.53x 15.9x 13.6x
PBR 12x - - - - 4.24x 3.5x
PEG - 4.99x -1.4x -0.7x 0x 1.1x 0.8x
Capitalization / Revenue 2.33x 3.2x 2.27x 1.13x 0.47x 1.24x 1.18x
EV / Revenue 2.63x 3.2x 2.27x 1.13x 0.47x 1.53x 1.45x
EV / EBITDA 16.8x 19.4x 14.4x 8.54x 2.63x 7.24x 6.57x
EV / EBIT 27.2x 29.6x 25.6x 23.5x 3.97x 10.4x 9.23x
EV / FCF - -41.3x 36.3x -70.7x 5.31x 43x 50.2x
FCF Yield - -2.42% 2.75% -1.42% 18.8% 2.33% 1.99%
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% 1.86% 2.17%
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 16.10 16.10
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.($)
15.94x1.53x7.24x1.86% 460M
35.31x12.58x22.98x0.78% 125B
41.56x6.95x29.98x1.89% 46.62B
26.55x1.23x14.12x-.--% 40.36B
23.33x1.96x9.48x1.32% 36.33B
30.44x2.14x14.81x1.55% 29.36B
30x4.56x18.21x-.--% 29.06B
11.3x6.28x17.51x1.34% 28.57B
31.2x4.79x19.13x0.74% 18.41B
24.21x3.09x12.94x-.--% 17.06B
Average 26.98x 4.51x 16.64x 0.95% 37.15B
Weighted average by Cap. 30.59x 6.83x 19.46x 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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