Company Valuation: Applicad

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 632.8 1,221 901.6 739.2 467.6 672
Change - 92.92% -26.15% -18.01% -36.74% 43.71%
Enterprise Value (EV) 1 274.2 863.7 613.2 448.3 157 308.7
Change - 215.02% -29% -26.9% -64.97% 96.57%
P/E 14.1x 20.9x 19.4x 14.6x 6.99x 6.45x
PBR 1.86x 3.42x 2.61x 2.07x 1.23x 1.51x
PEG - 0.7x -0.9x 1.6x 0.2x 0.1x
Capitalization / Revenue 0.96x 1.53x 1.01x 0.82x 0.46x 0.6x
EV / Revenue 0.42x 1.08x 0.69x 0.49x 0.15x 0.27x
EV / EBITDA 3.81x 8.8x 7.74x 4.77x 1.45x 2.01x
EV / EBIT 4.78x 10.6x 10.4x 6.37x 1.82x 2.27x
EV / FCF 9.44x 32x -40.9x 16.5x 4.12x 3.76x
FCF Yield 10.6% 3.13% -2.44% 6.07% 24.3% 26.6%
Dividend per Share 2 0.15 0.2 0.14 0.15 0.13 0.23
Rate of return 6.64% 4.59% 4.35% 5.68% 7.78% 9.58%
EPS 2 0.1607 0.2088 0.166 0.1812 0.2388 0.3718
Distribution rate 93.3% 95.8% 84.3% 82.8% 54.4% 61.9%
Net sales 1 658.1 798.9 888.3 906.1 1,022 1,126
EBITDA 1 71.9 98.15 79.23 93.96 108.1 153.9
EBIT 1 57.41 81.86 58.82 70.32 86.49 135.7
Net income 1 45 58.46 46.47 50.72 66.87 104.1
Net Debt 1 -358.6 -357.1 -288.4 -290.9 -310.6 -363.3
Reference price 2 2.260 4.360 3.220 2.640 1.670 2.400
Nbr of stocks (in thousands) 2,80,000 2,80,000 2,80,000 2,80,000 2,80,000 2,80,000
Announcement Date 25/02/21 25/02/22 20/02/23 19/02/24 25/02/25 24/02/26
1THB in Million2THB
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 2.94Cr
26.3x9.79x15.88x0.75% 3,89000Cr
100.37x45.91x74.02x-.--% 40TCr
18.78x5.6x9.72x1.63% 39TCr
29.73x6.04x18.76x1.26% 27TCr
209.1x18.14x53.1x-.--% 26TCr
1869.1x37.84x123.79x-.--% 23TCr
25.16x16.17x19.26x-.--% 14TCr
71.54x6.54x17.12x-.--% 11TCr
13.31x3.54x7.41x-.--% 9.46TCr
Average 262.60x 16.62x 37.67x 0.4% 58TCr
Weighted average by Cap. 114.04x 13.35x 25.65x 0.68%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Applicad

Historical PBR trend

Valuation ratios - PBR - Applicad

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Applicad

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Applicad