Financials Pinthong Industrial Park Property Fund

Equities

PPF

TH5137010002

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
10.5 THB +0.96% Intraday chart for Pinthong Industrial Park Property Fund +1.94% +3.96%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 2,515 2,537 2,559 2,604 2,559 2,268
Enterprise Value (EV) 1 2,478 2,527 2,427 2,460 2,404 2,100
P/E ratio 15.2 x 20.2 x 13.5 x 14.6 x 15.6 x 11.2 x
Yield 6.2% 6.21% 6.28% 6.03% 6.14% 7.46%
Capitalization / Revenue 12.6 x 12.5 x 12.4 x 12.7 x 12.8 x 10.6 x
EV / Revenue 12.4 x 12.4 x 11.8 x 12 x 12 x 9.85 x
EV / EBITDA - - - - - -
EV / FCF 38.6 x 20.1 x 20.6 x 22.9 x 22.5 x 19.9 x
FCF Yield 2.59% 4.97% 4.85% 4.37% 4.44% 5.03%
Price to Book 1.04 x 1.06 x 1.06 x 1.07 x 1.04 x 0.91 x
Nbr of stocks (in thousands) 224,510 224,510 224,510 224,510 224,510 224,510
Reference price 2 11.20 11.30 11.40 11.60 11.40 10.10
Announcement Date 2/26/19 2/28/20 3/1/21 2/25/22 2/20/23 2/19/24
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 199.9 203.5 205.7 204.5 200.5 213.1
EBITDA - - - - - -
EBIT 1 158.1 163 173.2 172 166.8 172.7
Operating Margin 79.11% 80.11% 84.21% 84.12% 83.17% 81.06%
Earnings before Tax (EBT) 1 165.7 125.8 189 178.1 163.8 202.5
Net income 1 165.7 125.8 189 178.1 163.8 202.5
Net margin 82.89% 61.8% 91.9% 87.1% 81.68% 95.03%
EPS 2 0.7380 0.5601 0.8420 0.7932 0.7295 0.9019
Free Cash Flow 1 64.2 125.5 117.8 107.6 106.7 105.6
FCF margin 32.12% 61.66% 57.27% 52.64% 53.22% 49.55%
FCF Conversion (EBITDA) - - - - - -
FCF Conversion (Net income) 38.75% 99.79% 62.32% 60.43% 65.16% 52.14%
Dividend per Share 2 0.6947 0.7017 0.7158 0.7000 0.7000 0.7532
Announcement Date 2/26/19 2/28/20 3/1/21 2/25/22 2/20/23 2/19/24
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 36.4 9.86 133 144 155 168
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 64.2 125 118 108 107 106
ROE (net income / shareholders' equity) 6.85% 5.22% 7.84% 7.32% 6.7% 8.2%
ROA (Net income/ Total Assets) 3.99% 4.13% 4.38% 4.32% 4.17% 4.27%
Assets 1 4,148 3,047 4,312 4,125 3,929 4,739
Book Value Per Share 2 10.80 10.70 10.80 10.90 10.90 11.10
Cash Flow per Share 2 0.1600 0.0400 0.5900 0.4400 0.2500 0.3500
Capex - - - - - -
Capex / Sales - - - - - -
Announcement Date 2/26/19 2/28/20 3/1/21 2/25/22 2/20/23 2/19/24
1THB in Million2THB
Estimates
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