GUNKUL ENGINEERING |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2.56 THB | -0.78% |
|
+3.23% | -8.57% |
| Apr. 24 | Gunkul Engineering Public Company Limited Approves Omission of Dividend for the Year Ended 31 December 2023 | CI |
| Apr. 24 | Gunkul Engineering Public Company Limited Approves Board Appointments | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 26,175 | 22,134 | 49,742 | 46,633 | 24,680 | 22,108 | - |
| Enterprise Value (EV) 1 | 46,854 | 44,348 | 73,324 | 59,576 | 24,680 | 22,108 | 22,108 |
| P/E ratio | 12.4 x | 6.46 x | 22.4 x | 15.4 x | 16.5 x | 15.1 x | 12.8 x |
| Yield | 4.56% | 7.22% | 3.21% | 2.29% | - | 4.69% | 4.69% |
| Capitalization / Revenue | 3.69 x | 2.56 x | 5.34 x | 6.21 x | 3.25 x | 3.41 x | 2.97 x |
| EV / Revenue | 3.69 x | 2.56 x | 5.34 x | 6.21 x | 3.25 x | 3.41 x | 2.97 x |
| EV / EBITDA | 6.07 x | 6.49 x | 11.9 x | 15.2 x | 10.7 x | 6.3 x | 6.05 x |
| EV / FCF | 9.25 x | -7.67 x | 25.6 x | 41.2 x | - | 8.99 x | 6.54 x |
| FCF Yield | 10.8% | -13% | 3.9% | 2.43% | - | 11.1% | 15.3% |
| Price to Book | 2.44 x | 1.79 x | 3.79 x | 3.31 x | - | - | - |
| Nbr of stocks (in thousands) | 8,783,487 | 8,783,487 | 8,882,531 | 8,882,531 | 8,814,231 | 8,635,929 | - |
| Reference price 2 | 2.980 | 2.520 | 5.600 | 5.250 | 2.800 | 2.560 | 2.560 |
| Announcement Date | 2/25/20 | 2/24/21 | 2/23/22 | 2/27/23 | 2/28/24 | - | - |
1THB in Million2THB
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 7,099 | 8,649 | 9,318 | 7,506 | 7,605 | 6,485 | 7,456 |
| EBITDA 1 | 4,311 | 3,412 | 4,184 | 3,065 | 2,302 | 3,508 | 3,654 |
| EBIT 1 | 3,173 | 2,059 | 2,642 | 1,752 | 1,291 | 1,345 | 1,250 |
| Operating Margin | 44.7% | 23.8% | 28.35% | 23.35% | 16.97% | 20.74% | 16.77% |
| Earnings before Tax (EBT) 1 | 2,263 | 3,545 | 2,439 | 3,315 | 1,654 | 637 | 562 |
| Net income 1 | 2,147 | 3,412 | 2,229 | 3,011 | 1,474 | 1,604 | 1,839 |
| Net margin | 30.25% | 39.45% | 23.92% | 40.11% | 19.39% | 24.74% | 24.66% |
| EPS 2 | 0.2400 | 0.3900 | 0.2500 | 0.3400 | 0.1700 | 0.1700 | 0.2000 |
| Free Cash Flow 1 | 2,830 | -2,885 | 1,940 | 1,131 | - | 2,460 | 3,382 |
| FCF margin | 39.87% | -33.36% | 20.82% | 15.07% | - | 37.93% | 45.36% |
| FCF Conversion (EBITDA) | 65.66% | - | 46.37% | 36.9% | - | 70.13% | 92.56% |
| FCF Conversion (Net income) | 131.81% | - | 87.04% | 37.57% | - | 153.32% | 183.9% |
| Dividend per Share 2 | 0.1360 | 0.1820 | 0.1800 | 0.1200 | - | 0.1200 | 0.1200 |
| Announcement Date | 2/25/20 | 2/24/21 | 2/23/22 | 2/27/23 | 2/28/24 | - | - |
1THB in Million2THB
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 S1 | 2021 Q3 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | 3,306 | 2,480 | 1,995 | 2,017 | 1,924 | 1,570 | 1,877 | 1,682 | - | - | - | - |
| EBITDA | 2,014 | 1,110 | 836.2 | 1,116 | 697.7 | 407.7 | 615.1 | 844.5 | - | - | - | - |
| EBIT | 1,257 | 718.3 | 450.5 | 725.7 | 411.2 | 157.4 | 372.7 | 590.5 | - | - | - | - |
| Operating Margin | 38.02% | 28.96% | 22.58% | 35.98% | 21.37% | 10.03% | 19.86% | 35.11% | - | - | - | - |
| Earnings before Tax (EBT) | 1,181 | 703.6 | 576.9 | 836.5 | 1,689 | 213.2 | 488.8 | - | - | - | - | - |
| Net income 1 | 1,132 | 589.2 | 503.4 | 778.3 | 1,539 | 189.4 | 455.8 | 451.7 | 461.9 | 105 | 361 | 327 |
| Net margin | 34.25% | 23.76% | 25.24% | 38.58% | 80.02% | 12.06% | 24.29% | 26.86% | - | - | - | - |
| EPS | 0.1300 | - | - | - | - | 0.0220 | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 8/11/21 | 11/10/21 | 5/11/22 | 8/10/22 | 11/10/22 | 2/27/23 | 5/10/23 | 8/9/23 | 11/8/23 | 2/28/24 | - | - |
1THB in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net Debt | 20,680 | 22,214 | 23,582 | 12,943 | - | - | - |
| Net Cash position | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 4.797 x | 6.51 x | 5.636 x | 4.223 x | - | - | - |
| Free Cash Flow 1 | 2,830 | -2,885 | 1,940 | 1,131 | - | 2,460 | 3,382 |
| ROE (net income / shareholders' equity) | 21.9% | 29.6% | 17.5% | 22.1% | - | 9.9% | 10.4% |
| ROA (Net income/ Total Assets) | 5.75% | 8.02% | 5.04% | 8.05% | - | 4.6% | 5.7% |
| Assets 1 | 37,333 | 42,537 | 44,259 | 37,408 | - | 34,880 | 32,263 |
| Book Value Per Share | 1.220 | 1.410 | 1.480 | 1.580 | - | - | - |
| Cash Flow per Share | 0.4100 | 0.0700 | 0.5600 | 0.2300 | - | - | - |
| Capex 1 | 743 | 3,497 | 3,069 | 906 | - | 709 | 500 |
| Capex / Sales | 10.47% | 40.43% | 32.93% | 12.07% | - | 10.93% | 6.71% |
| Announcement Date | 2/25/20 | 2/24/21 | 2/23/22 | 2/27/23 | 2/28/24 | - | - |
1THB in Million
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
BUY
Number of Analysts
2
Last Close Price
2.56
THB
Average target price
4.8
THB
Spread / Average Target
+87.50%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -8.57% | 597M | |
| -16.52% | 8.7B | |
| -31.37% | 6.72B | |
| +6.24% | 3.98B | |
| -30.51% | 3.08B | |
| -6.98% | 2.32B | |
| -21.88% | 1.14B | |
| -25.16% | 1.08B | |
| +68.22% | 755M | |
| -25.57% | 530M |
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