THAI UNION FEEDMILL |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 8.55 THB | +3.01% |
|
+25.74% | +35.71% |
Valuation
| Fiscal Period: December | 2021 | 2022 | 2023 |
|---|---|---|---|
| Capitalization 1 | 6,900 | 4,950 | 3,150 |
| Enterprise Value (EV) 1 | 6,567 | 4,792 | 2,707 |
| P/E ratio | 27.8 x | 45.2 x | 36.1 x |
| Yield | 1.09% | 1.31% | 2.06% |
| Capitalization / Revenue | 1.45 x | 1.01 x | 0.62 x |
| EV / Revenue | 1.38 x | 0.98 x | 0.53 x |
| EV / EBITDA | 18.5 x | 23.3 x | 14.1 x |
| EV / FCF | -41.7 x | -21.9 x | 10.8 x |
| FCF Yield | -2.4% | -4.56% | 9.25% |
| Price to Book | 3.11 x | 2.26 x | 1.41 x |
| Nbr of stocks (in thousands) | 500,000 | 500,000 | 500,000 |
| Reference price 2 | 13.80 | 9.900 | 6.300 |
| Announcement Date | 2/17/22 | 2/17/23 | 2/16/24 |
1THB in Million2THB
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Net sales | - | 4,773 | 4,888 | 5,081 | - |
| EBITDA | - | 316.6 | 245.4 | 234 | - |
| EBIT | - | 166 | 58.67 | 60.56 | - |
| Operating Margin | - | 3.48% | 1.2% | 1.19% | - |
| Earnings before Tax (EBT) | - | - | - | 63.8 | - |
| Net income 1 | 411.7 | 211.5 | 109.5 | 87.37 | 264 |
| Net margin | - | 4.43% | 2.24% | 1.72% | - |
| EPS | 1.000 | 0.5000 | 0.2200 | 0.1700 | - |
| Free Cash Flow | - | -78.66 | -146.2 | - | - |
| FCF margin | - | -1.65% | -2.99% | - | - |
| FCF Conversion (EBITDA) | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - |
| Dividend per Share | - | 1.150 | 0.1300 | - | - |
| Announcement Date | 10/28/21 | 2/17/22 | 2/17/23 | 2/16/24 | - |
1THB in Million
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 |
|---|---|---|---|---|---|---|---|---|---|
| Net sales | 1,095 | 1,013 | - | - | - | - | 1,344 | 1,306 | - |
| EBITDA | 56.05 | - | - | - | - | - | - | - | - |
| EBIT | 18.04 | - | - | - | - | - | - | - | - |
| Operating Margin | 1.65% | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | 41.43 | -8.881 | - | - | - | - | - | - | - |
| Net income 1 | 43.1 | 1.322 | 33.74 | 57.62 | 16.86 | -27.72 | 47.77 | - | 14.83 |
| Net margin | 3.94% | 0.13% | - | - | - | - | 3.56% | - | - |
| EPS | 0.0800 | - | - | - | - | - | 0.1000 | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - |
| Announcement Date | 2/17/22 | 5/3/22 | 8/4/22 | 11/1/22 | 2/17/23 | 5/2/23 | 8/4/23 | 11/8/23 | 2/16/24 |
1THB in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Net Debt | - | - | - | - | - |
| Net Cash position | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - |
| Free Cash Flow | - | -78.7 | -146 | - | - |
| ROE (net income / shareholders' equity) | - | 12.6% | 4.97% | - | - |
| ROA (Net income/ Total Assets) | - | 7.69% | 3.35% | - | - |
| Assets 1 | - | 2,751 | 3,273 | - | - |
| Book Value Per Share | - | 4.430 | - | - | - |
| Cash Flow per Share | - | - | - | - | - |
| Capex | - | 381 | 179 | - | - |
| Capex / Sales | - | 7.99% | 3.67% | - | - |
| Announcement Date | 10/28/21 | 2/17/22 | 2/17/23 | 2/16/24 | - |
1THB in Million
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
1
Last Close Price
8.55
THB
Average target price
10.2
THB
Spread / Average Target
+19.30%
| 1st Jan change | Capi. | |
|---|---|---|
| +35.71% | 116M | |
| +11.78% | 11.42B | |
| -4.83% | 5.57B | |
| +5.47% | 5.11B | |
| +3.57% | 4.54B | |
| -20.30% | 2.66B | |
| +1.81% | 1.86B | |
| -20.80% | 1.14B | |
| -21.43% | 918M | |
| -14.14% | 891M |
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