Company Valuation: Micro Leasing

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 7,620 4,020 2,038 916.3 766.7 1,253 - -
Change - -47.24% -49.3% -55.05% -16.33% 63.41% - -
Enterprise Value (EV) 7,620 4,020 2,038 916.3 766.7 1,253 1,253 1,253
Change - -47.24% -49.3% -55.05% -16.33% 63.41% 0% 0%
P/E 40.8x 61.4x -38.9x -6.45x 16.4x 11.2x 11.2x 10.3x
PBR 3.89x 2.05x - 0.53x 0.43x 0.68x 0.66x 0.64x
PEG - -0.9x 0x -0x -0x 0x - 1.24x
Capitalization / Revenue 13.4x 5.69x - 1.2x 1.56x 2.82x 2.78x 2.68x
EV / Revenue 0x 0x - 0x 0x 2.82x 2.78x 2.68x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x - 0x 0x 7x 6.92x 6.49x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.08 0.036 - - 0.027 0.066 0.068 0.073
Rate of return 0.98% 0.84% - - 3.29% 4.93% 5.07% 5.45%
EPS 2 0.2 0.07 -0.056 -0.152 0.05 0.12 0.12 0.13
Distribution rate 40% 51.4% - - 54% 55% 56.7% 56.2%
Net sales 1 569.2 706.7 - 760.8 490.1 444 451 467
EBITDA - - - - - - - -
EBIT 1 383.1 415.2 - 339.6 227 179 181 193
Net income 1 187.5 79.14 -52.54 -153.2 46.22 112 115 124
Net Debt - - - - - - - -
Reference price 2 8.150 4.300 2.180 0.980 0.820 1.340 1.340 1.340
Nbr of stocks (in thousands) 935,000 935,000 935,000 935,000 935,000 935,000 - -
Announcement Date 2/25/22 2/24/23 2/23/24 2/21/25 2/23/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.47x7.25x8.36x1.12% 22.08B
9.16x3.17x28.38x3.64% 8.29B
7.7x9.03x9.64x5.07% 6.25B
17.68x7.51x12.12x1.46% 6.37B
17.26x2.89x7.24x1.55% 3.28B
8.87x - - 3.64% 2.59B
3.01x - - - 2.44B
Average 10.31x 5.97x 13.15x 2.75% 7.33B
Weighted average by Cap. 9.95x 6.49x 12.56x 2.26%

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

-40%: Exceptional extension
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