Financials Thantawan Industry

Equities

THIP

TH0449010Z09

Non-Paper Containers & Packaging

End-of-day quote Thailand S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
30 THB 0.00% Intraday chart for Thantawan Industry +3.45% +0.84%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 1,896 1,496 2,660 2,880 3,600 2,677
Enterprise Value (EV) 1 1,452 936.2 2,017 2,491 3,250 1,478
P/E ratio 7.34 x 6.12 x 7.65 x 7.52 x 9.93 x 9.28 x
Yield 5.27% 6.68% 4.74% 5.47% 4.38% 5.55%
Capitalization / Revenue 0.61 x 0.49 x 0.83 x 0.77 x 0.88 x 0.78 x
EV / Revenue 0.47 x 0.31 x 0.63 x 0.66 x 0.8 x 0.43 x
EV / EBITDA 3.93 x 2.46 x 4.08 x 4.64 x 6.69 x 3.75 x
EV / FCF -12.8 x 7.45 x 9.84 x 66.7 x 10.7 x 4.39 x
FCF Yield -7.78% 13.4% 10.2% 1.5% 9.34% 22.8%
Price to Book 1.14 x 0.83 x 1.32 x 1.24 x 1.43 x 1.01 x
Nbr of stocks (in thousands) 90,000 90,000 90,000 90,000 90,000 90,000
Reference price 2 21.07 16.62 29.56 32.00 40.00 29.75
Announcement Date 2/11/19 2/14/20 2/15/21 2/14/22 2/13/23 2/15/24
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 3,086 3,059 3,197 3,761 4,073 3,411
EBITDA 1 369.6 380.9 494.7 536.5 485.8 393.9
EBIT 1 293.7 284.9 391.5 425.7 365.8 269
Operating Margin 9.52% 9.32% 12.25% 11.32% 8.98% 7.89%
Earnings before Tax (EBT) 1 293.5 283.1 402.9 460.1 418.6 336.7
Net income 1 258.4 244.5 347.8 382.8 363 288.5
Net margin 8.37% 7.99% 10.88% 10.18% 8.91% 8.46%
EPS 2 2.871 2.717 3.865 4.254 4.030 3.206
Free Cash Flow 1 -113 125.6 205 37.37 303.6 336.4
FCF margin -3.66% 4.11% 6.41% 0.99% 7.46% 9.86%
FCF Conversion (EBITDA) - 32.97% 41.45% 6.97% 62.51% 85.39%
FCF Conversion (Net income) - 51.36% 58.95% 9.76% 83.64% 116.58%
Dividend per Share 2 1.111 1.111 1.400 1.750 1.750 1.650
Announcement Date 2/11/19 2/14/20 2/15/21 2/14/22 2/13/23 2/15/24
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 444 560 643 389 350 1,199
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 -113 126 205 37.4 304 336
ROE (net income / shareholders' equity) 16.3% 14.1% 18.2% 17.7% 15% 11.2%
ROA (Net income/ Total Assets) 9.12% 8.34% 10.4% 9.73% 7.64% 5.43%
Assets 1 2,833 2,932 3,353 3,934 4,750 5,313
Book Value Per Share 2 18.50 20.10 22.40 25.70 27.90 29.40
Cash Flow per Share 2 1.990 3.720 7.740 2.670 3.130 10.70
Capex 1 277 144 77.4 188 121 33.1
Capex / Sales 8.99% 4.71% 2.42% 5.01% 2.97% 0.97%
Announcement Date 2/11/19 2/14/20 2/15/21 2/14/22 2/13/23 2/15/24
1THB in Million2THB
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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