Financials Thaicom

Equities

THCOM

TH0380010Y07

Wireless Telecommunications Services

End-of-day quote Thailand S.E. 06:00:00 2024-07-18 pm EDT 5-day change 1st Jan Change
11.5 THB -1.71% Intraday chart for Thaicom -0.86% -12.88%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 4,231 9,372 12,386 15,784 14,469 12,605 - -
Enterprise Value (EV) 1 4,231 10,981 13,323 12,092 12,925 13,355 16,489 12,605
P/E ratio -1.88 x 18.2 x 86.9 x 360 x 41.3 x 39 x 65.7 x 164 x
Yield 5.18% 2.34% - 3.47% 0.98% 0.89% 0.65% 0.29%
Capitalization / Revenue 0.91 x 2.63 x 3.75 x 5.1 x 5.51 x 4.79 x 4.27 x 4.04 x
EV / Revenue 0.91 x 3.09 x 4.03 x 3.91 x 4.92 x 5.07 x 5.58 x 4.04 x
EV / EBITDA 2.4 x 5.51 x 11.2 x 10.9 x 14.4 x 12.5 x 15.6 x 11.8 x
EV / FCF 2.95 x 6.49 x 11.6 x 6.23 x -27.8 x -9.54 x -5.1 x -6.79 x
FCF Yield 33.9% 15.4% 8.65% 16.1% -3.59% -10.5% -19.6% -14.7%
Price to Book 0.38 x 0.83 x 1.11 x 1.5 x 1.41 x 1.22 x 1.21 x 1.24 x
Nbr of stocks (in thousands) 1,096,102 1,096,102 1,096,102 1,096,102 1,096,102 1,096,102 - -
Reference price 2 3.860 8.550 11.30 14.40 13.20 11.50 11.50 11.50
Announcement Date 2/5/20 2/5/21 2/4/22 2/10/23 2/8/24 - - -
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 4,663 3,557 3,303 3,096 2,627 2,632 2,954 3,117
EBITDA 1 1,765 1,994 1,189 1,107 899 1,068 1,057 1,069
EBIT 1 -47.55 722 69.19 486.3 249 263.7 341 252.5
Operating Margin -1.02% 20.3% 2.09% 15.71% 9.48% 10.02% 11.54% 8.1%
Earnings before Tax (EBT) 1 -1,906 628 231.9 198.6 491.8 402.8 249.2 123
Net income 1 -2,250 513.8 143.6 42.21 353.6 319.8 193.2 88.67
Net margin -48.25% 14.45% 4.35% 1.36% 13.46% 12.15% 6.54% 2.84%
EPS 2 -2.050 0.4700 0.1300 0.0400 0.3200 0.2950 0.1750 0.0700
Free Cash Flow 1 1,435 1,691 1,152 1,941 -464.6 -1,400 -3,234 -1,857
FCF margin 30.76% 47.55% 34.89% 62.71% -17.69% -53.22% -109.46% -59.58%
FCF Conversion (EBITDA) 81.3% 84.81% 96.91% 175.4% - - - -
FCF Conversion (Net income) - 329.18% 802.15% 4,599.38% - - - -
Dividend per Share 2 0.2000 0.2000 - 0.5000 0.1300 0.1025 0.0750 0.0333
Announcement Date 2/5/20 2/5/21 2/4/22 2/10/23 2/8/24 - - -
1THB in Million2THB
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 2024 Q1 2024 Q2 2024 Q3
Net sales 1 793.7 690.7 736.6 761.6 365 735.3 636.4 622.6 629.5 608.7 604 -
EBITDA 1 313.9 266.2 - 339 -203.6 284.7 - 252 167.6 174.8 87.02 -
EBIT 1 - - - - - 131.6 - 83.77 -0.6648 27.28 26 -
Operating Margin - - - - - 17.9% - 13.45% -0.11% 4.48% 4.3% -
Earnings before Tax (EBT) 1 - 111.7 324.8 171.6 - 132.8 489.9 153.2 -284 324 96 -
Net income 1 -72.13 50.6 309.3 120.9 -438.5 89.57 456.6 113.6 -306.1 287.6 52.33 46
Net margin -9.09% 7.33% 41.99% 15.87% -120.14% 12.18% 71.74% 18.24% -48.63% 47.25% 8.66% -
EPS 2 -0.0668 0.0500 0.2800 0.1100 -0.4000 0.0800 0.4200 - - - 0.0400 -
Dividend per Share - - - - - - - - - - - -
Announcement Date 2/4/22 5/6/22 8/5/22 11/8/22 2/10/23 5/9/23 8/8/23 11/3/23 2/8/24 5/8/24 - -
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - 1,609 937 - - 750 3,884 -
Net Cash position 1 - - - 3,692 1,543 - - -
Leverage (Debt/EBITDA) - 0.807 x 0.7879 x - - 0.7024 x 3.675 x -
Free Cash Flow 1 1,435 1,691 1,152 1,941 -465 -1,401 -3,234 -1,857
ROE (net income / shareholders' equity) -18.7% 4.99% 1.28% 0.39% 3.4% 3.11% 1.81% 0.83%
ROA (Net income/ Total Assets) -11.5% 3.29% 0.9% 0.28% 2.44% 2.12% 1.12% 0.5%
Assets 1 19,599 15,596 16,008 15,095 14,506 15,100 17,293 17,616
Book Value Per Share 2 10.00 10.30 10.20 9.630 9.330 9.450 9.480 9.300
Cash Flow per Share 2 - - 1.120 1.830 0.9200 0.9000 0.6000 0.8000
Capex 1 226 78 72.2 61.3 1,472 3,233 3,778 1,815
Capex / Sales 4.84% 2.19% 2.19% 1.98% 56.03% 122.83% 127.91% 58.22%
Announcement Date 2/5/20 2/5/21 2/4/22 2/10/23 2/8/24 - - -
1THB in Million2THB
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
4
Last Close Price
11.5 THB
Average target price
15.6 THB
Spread / Average Target
+35.65%
Consensus