Company Valuation: Stars Microelectronics (Thailand)

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2025 2026 2027
Market Cap 1 5,437 4,234 3,087 870.4 4,759 -
Change - -22.13% -27.08% - 446.73% -
Enterprise Value (EV) 6,120 4,469 3,087 870.4 4,759 4,759
Change - -26.98% -30.92% - 446.73% 0%
P/E 27.1x 14.9x 13.7x -15.3x 32.5x 19.5x
PBR 3.45x 2.26x 1.55x - 2.66x 2.44x
PEG - 0.4x -0.7x - -0x 0.3x
Capitalization / Revenue 2.49x 1.49x 1.2x - 1.78x 1.53x
EV / Revenue 0x 0x 0x - 1.78x 1.53x
EV / EBITDA 0x 0x 0x - 13.3x 9.91x
EV / EBIT 0x 0x 0x - 35.5x 19x
EV / FCF 0x 0x 0x - -23.8x 24.5x
FCF Yield 3.9% 11.6% 14.8% - -4.2% 4.08%
Dividend per Share 2 - 0.05 0.07 - 0.07 0.12
Rate of return - 0.99% 1.89% - 1.2% 2.05%
EPS 2 0.24 0.34 0.27 -0.07 0.18 0.3
Distribution rate - 14.7% 25.9% - 38.9% 40%
Net sales 1 2,183 2,835 2,580 - 2,670 3,106
EBITDA 1 393.2 573.7 463.8 - 359 480
EBIT 1 143.9 271.4 187.9 - 134 251
Net income 1 209.7 303.5 235.3 -60.13 150 256
Net Debt 683.3 235.6 - - - -
Reference price 2 6.500 5.050 3.700 1.070 5.850 5.850
Nbr of stocks (in thousands) 836,491 838,367 834,426 813,443 813,443 -
Announcement Date 2/18/22 2/27/23 2/22/24 2/26/26 - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
31.39x - - - 138M
32.56x11.51x21.02x0.84% 119B
47.13x7.89x34.18x1.56% 52.82B
26.32x1.22x13.89x-.--% 40.01B
20.71x1.76x8.62x1.46% 34.59B
29.38x2.07x14.41x1.59% 29.56B
28.57x4.35x17.37x-.--% 27.68B
10.29x5.77x16.01x1.45% 25.77B
29.87x4.57x18.26x0.77% 17.47B
23.76x3.02x12.67x-.--% 16.64B
Average 28.00x 4.69x 17.38x 0.85% 36.39B
Weighted average by Cap. 30.19x 6.49x 19.28x 0.91%

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

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  4. Valuation Stars Microelectronics (Thailand)
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