Financials Siam Steel Service Center

Equities

SSSC

TH0547010Z00

Iron & Steel

End-of-day quote Thailand S.E. 06:00:00 2024-05-08 pm EDT 5-day change 1st Jan Change
2.86 THB -7.74% Intraday chart for Siam Steel Service Center -7.14% -2.72%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 1,741 1,318 1,498 1,830 1,958 1,882
Enterprise Value (EV) 1 2,147 1,430 1,123 2,466 2,595 1,923
P/E ratio 10.4 x 11.1 x 19.9 x 7.79 x 8.96 x 7.06 x
Yield 6.07% 8.01% 4.53% 8.04% 6.05% 7.55%
Capitalization / Revenue 0.35 x 0.3 x 0.43 x 0.39 x 0.35 x 0.35 x
EV / Revenue 0.44 x 0.33 x 0.32 x 0.53 x 0.47 x 0.36 x
EV / EBITDA 7.89 x 6.7 x 7.2 x 6.9 x 7.65 x 4.91 x
EV / FCF -18,779 x 4.26 x 1.99 x -2.46 x 28.9 x 3.01 x
FCF Yield -0.01% 23.5% 50.3% -40.6% 3.46% 33.3%
Price to Book 0.61 x 0.46 x 0.53 x 0.61 x 0.64 x 0.58 x
Nbr of stocks (in thousands) 639,998 639,998 639,998 639,998 639,998 639,998
Reference price 2 2.720 2.060 2.340 2.860 3.060 2.940
Announcement Date 3/1/19 2/28/20 2/25/21 2/28/22 2/28/23 2/27/24
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 4,917 4,372 3,459 4,688 5,530 5,395
EBITDA 1 272.3 213.5 155.9 357.2 339.4 391.5
EBIT 1 195.2 136 76.93 281.5 267.6 328.7
Operating Margin 3.97% 3.11% 2.22% 6% 4.84% 6.09%
Earnings before Tax (EBT) 1 209.5 147.6 93.68 293.4 273.9 333.6
Net income 1 167.7 118.7 75.43 235.1 218.5 266.4
Net margin 3.41% 2.72% 2.18% 5.01% 3.95% 4.94%
EPS 2 0.2620 0.1855 0.1179 0.3673 0.3413 0.4162
Free Cash Flow 1 -0.1143 335.2 564.5 -1,001 89.67 640
FCF margin -0% 7.67% 16.32% -21.36% 1.62% 11.86%
FCF Conversion (EBITDA) - 157.02% 362.1% - 26.42% 163.45%
FCF Conversion (Net income) - 282.36% 748.39% - 41.05% 240.27%
Dividend per Share 2 0.1650 0.1650 0.1060 0.2300 0.1850 0.2220
Announcement Date 3/1/19 2/28/20 2/25/21 2/28/22 2/28/23 2/27/24
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 406 111 - 635 637 41.7
Net Cash position 1 - - 375 - - -
Leverage (Debt/EBITDA) 1.492 x 0.5205 x - 1.779 x 1.876 x 0.1065 x
Free Cash Flow 1 -0.11 335 565 -1,001 89.7 640
ROE (net income / shareholders' equity) 5.89% 4.14% 2.64% 8.01% 7.12% 8.4%
ROA (Net income/ Total Assets) 3.14% 2.26% 1.4% 4.67% 3.88% 4.96%
Assets 1 5,336 5,252 5,405 5,034 5,633 5,367
Book Value Per Share 2 4.470 4.490 4.440 4.710 4.820 5.050
Cash Flow per Share 2 0.1500 0.2100 0.6200 0.1800 0.2400 0.2300
Capex 1 82.8 45.4 29.7 32.4 41.5 40
Capex / Sales 1.68% 1.04% 0.86% 0.69% 0.75% 0.74%
Announcement Date 3/1/19 2/28/20 2/25/21 2/28/22 2/28/23 2/27/24
1THB in Million2THB
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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