Company Valuation: 3BB Internet Infrastructure Fund

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 82,400 64,400 50,000 41,600 50,400 52,400 52,400 -
Change - -21.84% -22.36% -16.8% 21.15% 3.97% 0% -
Enterprise Value (EV) 96,728 64,400 63,047 53,744 60,462 52,400 56,914 56,458
Change - -33.42% -2.1% -14.76% 12.5% -13.33% 8.61% -0.8%
P/E 9.58x 8.02x 13.7x -3.73x 9.55x 7.44x 34.5x 8.19x
PBR 0.93x 0.72x 0.59x 0.62x 0.75x 0.76x 0.8x 0.77x
PEG - -1.21x -0.3x 0x -0x 0.2x -0.5x 0x
Capitalization / Revenue 8.12x 6.35x 4.87x 4.41x 6.78x 7.03x 7.01x 6.98x
EV / Revenue 0x 0x 0x 0x 0x 7.04x 7.01x 6.98x
EV / EBITDA 0x 0x 0x 0x 0x 7.77x 7.78x 7.75x
EV / EBIT 0x 0x 0x 0x 0x 7.8x 7.73x 7.73x
EV / FCF - - 0x 0x 0x 8.08x 8.04x 7.92x
FCF Yield - - 18.7% 20.6% 16.9% 11.5% 12.4% 12.6%
Dividend per Share 2 0.99 0.95 0.92 0.69 - 0.5159 0.6248 0.6483
Rate of return 9.61% 11.8% 14.7% 13.3% - 7.88% 9.54% 9.9%
EPS 2 1.075 1.004 0.4563 -1.392 0.6599 0.8805 0.19 0.7999
Distribution rate 92.1% 94.6% 202% -49.6% - 58.6% 329% 81.1%
Net sales 1 10,144 10,144 10,269 9,437 7,429 7,459 7,472 7,509
EBITDA 1 9,531 9,519 9,617 8,770 6,723 6,753 6,734 6,759
EBIT 1 9,531 9,519 9,617 8,770 6,723 6,753 6,780 6,775
Net income 1 9,101 8,030 3,650 -11,139 5,279 7,044 1,522 6,448
Net Debt 14,328 - 13,047 12,144 10,062 - 4,514 4,058
Reference price 2 10.300 8.050 6.250 5.200 6.300 6.550 6.550 6.550
Nbr of stocks (in thousands) 80,00,000 80,00,000 80,00,000 80,00,000 80,00,000 80,00,000 80,00,000 -
Announcement Date 11/02/21 21/02/22 03/04/23 03/04/24 04/04/25 01/04/26 - -
1THB in Million2THB
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.06x3.32x6.14x4.61% 1.02TCr
17.6x10.47x11.79x8.62% 686.21Cr
9.31x9.29x9.54x8.56% 334.95Cr
19.77x - - 1.54% 277.43Cr
79.93x7.13x10.12x6.3% 243.38Cr
-4.56x3.44x8.54x-.--% 227.92Cr
16.4x5.54x6.75x5.14% 197.06Cr
21.33x8.58x10.17x3.54% 177.41Cr
8.18x - - 9.18% 158.73Cr
Average 20.11x 6.82x 9.01x 5.28% 368.96Cr
Weighted average by Cap. 18.28x 6.52x 8.69x 5.58%

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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