Financials Land and Houses Freehold and Leasehold Property Fund

Equities

LHPF

TH3204010005

Real Estate Development & Operations

End-of-day quote Thailand S.E. 06:00:00 2024-04-29 pm EDT 5-day change 1st Jan Change
5.7 THB -0.87% Intraday chart for Land and Houses Freehold and Leasehold Property Fund -1.72% -7.32%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 2,706 2,904 1,782 1,798 2,030 2,030
Enterprise Value (EV) 1 2,678 2,875 1,796 1,882 2,100 2,110
P/E ratio 14.9 x 17.8 x 69.5 x 11.3 x 8.4 x 13.3 x
Yield 6.4% 5.51% 4.17% 3.85% 5.2% 5.69%
Capitalization / Revenue 7.63 x 8.7 x 8.57 x 8.9 x 7.4 x 6.41 x
EV / Revenue 7.55 x 8.61 x 8.64 x 9.31 x 7.66 x 6.66 x
EV / EBITDA - - - - - -
EV / FCF 24.1 x 21.2 x 39.7 x 37.5 x 27.6 x 27.3 x
FCF Yield 4.15% 4.71% 2.52% 2.66% 3.62% 3.66%
Price to Book 0.76 x 0.82 x 0.51 x 0.5 x 0.54 x 0.54 x
Nbr of stocks (in thousands) 330,000 330,000 330,000 330,000 330,000 330,000
Reference price 2 8.200 8.800 5.400 5.450 6.150 6.150
Announcement Date 2/28/19 3/2/20 2/25/21 2/28/22 2/27/23 2/28/24
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 354.7 333.8 207.8 202.1 274.3 316.8
EBITDA - - - - - -
EBIT 1 181.7 175.5 81.83 79.08 115.8 128.3
Operating Margin 51.22% 52.57% 39.37% 39.13% 42.21% 40.49%
Earnings before Tax (EBT) 1 181.7 163.5 25.66 158.8 241.6 152.6
Net income 1 181.7 163.5 25.66 158.8 241.6 152.6
Net margin 51.22% 48.98% 12.35% 78.57% 88.07% 48.17%
EPS 2 0.5506 0.4955 0.0777 0.4811 0.7320 0.4625
Free Cash Flow 1 111.2 135.5 45.29 50.13 75.99 77.32
FCF margin 31.35% 40.59% 21.79% 24.81% 27.71% 24.41%
FCF Conversion (EBITDA) - - - - - -
FCF Conversion (Net income) 61.2% 82.87% 176.52% 31.57% 31.46% 50.67%
Dividend per Share 2 0.5250 0.4850 0.2250 0.2100 0.3200 0.3500
Announcement Date 2/28/19 3/2/20 2/25/21 2/28/22 2/27/23 2/28/24
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - 14.1 83.5 70.7 80.7
Net Cash position 1 28 28.9 - - - -
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 111 136 45.3 50.1 76 77.3
ROE (net income / shareholders' equity) 5.12% 4.61% 0.73% 4.5% 6.62% 4.08%
ROA (Net income/ Total Assets) 3.13% 3.03% 1.41% 1.34% 1.89% 2.05%
Assets 1 5,803 5,390 1,816 11,857 12,762 7,450
Book Value Per Share 2 10.80 10.70 10.50 10.80 11.30 11.40
Cash Flow per Share 2 0.0800 0.0900 0.3100 0.1000 0.1300 0.0900
Capex - - - - - -
Capex / Sales - - - - - -
Announcement Date 2/28/19 3/2/20 2/25/21 2/28/22 2/27/23 2/28/24
1THB in Million2THB
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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