Financials Jubilee Enterprise

Equities

End-of-day quote Thailand S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
16.2 ^THB	0.00%		0.00%	-8.99%

Feb. 22	Jubilee Enterprise Public Company Limited Reports Earnings Results for the Full Year Ended December 31, 2023	CI
Feb. 22	Jubilee Enterprise Public Company Limited Proposes Dividend for the Year Ended December 31, 2023, Payable on May 17, 2024	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	3,259	3,851	4,148	4,749	3,102	2,823	-
Enterprise Value (EV) ¹	3,259	3,851	4,148	4,749	3,102	2,823	2,823
P/E ratio	12.5 x	14.4 x	18.4 x	15.1 x	15.2 x	12.5 x	10.8 x
Yield	4.87%	2.81%	2.18%	2.68%	-	3.21%	3.77%
Capitalization / Revenue	1.8 x	2.26 x	2.71 x	2.66 x	1.99 x	1.72 x	1.64 x
EV / Revenue	1.8 x	2.26 x	2.71 x	2.66 x	1.99 x	1.72 x	1.64 x
EV / EBITDA	9.35 x	8.76 x	11 x	9.36 x	8.4 x	7.47 x	6.74 x
EV / FCF	9.92 x	11.5 x	-	-	-	30.4 x	8.88 x
FCF Yield	10.1%	8.7%	-	-	-	3.29%	11.3%
Price to Book	3.08 x	3.18 x	3.11 x	3.14 x	-	1.62 x	1.49 x
Nbr of stocks (in thousands)	174,273	174,273	174,273	174,273	174,273	174,273	-
Reference price ²	18.70	22.10	23.80	27.25	17.80	16.20	16.20
Announcement Date	2/21/20	2/23/21	2/23/22	2/24/23	2/21/24	-	-

¹THB in Million²THB

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	1,807	1,704	1,531	1,786	1,559	1,637	1,719
EBITDA ¹	348.6	439.8	377.2	507.2	369.3	378	419
EBIT ¹	327.1	343.7	289.1	400.2	257.3	289	336
Operating Margin	18.11%	20.17%	18.88%	22.41%	16.5%	17.65%	19.55%
Earnings before Tax (EBT) ¹	327.1	338.2	284.8	395.6	252.5	283	331
Net income ¹	262.2	266.8	225.2	314.4	203.2	226	265
Net margin	14.51%	15.65%	14.71%	17.6%	13.03%	13.81%	15.42%
EPS ²	1.500	1.530	1.290	1.800	1.170	1.300	1.500
Free Cash Flow ¹	328.4	335	-	-	-	93	318
FCF margin	18.18%	19.66%	-	-	-	5.68%	18.5%
FCF Conversion (EBITDA)	94.21%	76.17%	-	-	-	24.6%	75.89%
FCF Conversion (Net income)	125.26%	125.56%	-	-	-	41.15%	120%
Dividend per Share ²	0.9100	0.6200	0.5200	0.7300	-	0.5200	0.6100
Announcement Date	2/21/20	2/23/21	2/23/22	2/24/23	2/21/24	-	-

¹THB in Million²THB

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow ¹	328	335	-	-	-	93	318
ROE (net income / shareholders' equity)	24.7%	23.5%	17.7%	22.1%	-	13%	14%
ROA (Net income/ Total Assets)	17.6%	15%	10.8%	14.8%	-	10%	11%
Assets ¹	1,488	1,783	2,088	2,129	-	2,260	2,409
Book Value Per Share ²	6.080	6.940	7.640	8.680	-	10.00	10.90
Cash Flow per Share	-	-	-	-	-	-	-
Capex ¹	-	6.84	-	-	-	34	6
Capex / Sales	-	0.4%	-	-	-	2.08%	0.35%
Announcement Date	2/21/20	2/23/21	2/23/22	2/24/23	2/21/24	-	-

¹THB in Million²THB

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

16.2 THB

Average target price

19.5 THB

Spread / Average Target

+20.37%

	1st Jan change	Capi.
JUBILEE ENTERPRISE	-8.99%	76.23M
KALYAN JEWELLERS INDIA LIMITED	+18.44%	5.18B
SIGNET JEWELERS LIMITED	-5.09%	4.53B
SHANGHAI YUYUAN TOURIST MART (GROUP) CO., LTD.	-5.80%	3.15B
LOVISA HOLDINGS LIMITED	+24.11%	2.17B
LUK FOOK HOLDINGS (INTERNATIONAL) LIMITED	-11.12%	1.4B
WATCHES OF SWITZERLAND GROUP PLC	-51.45%	1.03B
THE HOUR GLASS LIMITED	-3.61%	763M
ETHOS LIMITED	+17.80%	722M
AURORA DESIGN	-14.29%	475M