Company Valuation: BEC World

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 28,200 20,200 9,760 7,800 3,780 3,740 - -
Change - -28.37% -51.68% -20.08% -51.54% -1.06% - -
Enterprise Value (EV) 1 26,482 18,240 8,944 5,384 280.8 893.4 3,740 3,740
Change - -31.12% -50.96% -39.8% -94.79% 218.17% 318.64% 0%
P/E 37.1x 33.7x 44.4x 78x 18.9x 22x 20.8x 23.4x
PBR 4.55x 3.24x 1.59x 1.28x 0.62x 0.59x 0.6x 0.6x
PEG - -1.6x -0.7x -1.4x 0x -1.5x 3.54x -2.1x
Capitalization / Revenue 4.96x 3.95x 2.1x 1.83x 0.95x 0.89x 1x 0.99x
EV / Revenue 4.66x 3.57x 1.92x 1.27x 0.07x 0.21x 1x 0.99x
EV / EBITDA 8.33x 6.66x 4.4x 3.25x 0.18x 0.55x 2.32x 2.4x
EV / EBIT 24.3x 22.1x 27x 34x 1.19x 4.21x 15.6x -
EV / FCF 7.39x 20.8x 4.69x 3.65x 0.2x 0.92x 2.44x -
FCF Yield 13.5% 4.82% 21.3% 27.4% 495% 109% 40.9% -
Dividend per Share 2 0.25 - 0.06 0.08 0.1 0.0886 0.065 0.04
Rate of return 1.77% - 1.23% 2.05% 5.29% 4.74% 3.48% 2.14%
EPS 2 0.38 0.3 0.11 0.05 0.1 0.085 0.09 0.08
Distribution rate 65.8% - 54.5% 160% 100% 104% 72.2% 50%
Net sales 1 5,680 5,115 4,653 4,251 3,980 4,186 3,734 3,781
EBITDA 1 3,179 2,739 2,035 1,655 1,587 1,616 1,610 1,559
EBIT 1 1,090 824.4 331.2 158.4 235.7 212 239 -
Net income 1 761.6 607 210 96.28 205.8 178.5 176.5 169
Net Debt 1 -1,718 -1,960 -815.8 -2,416 -3,499 -2,847 - -
Reference price 2 14.100 10.100 4.880 3.900 1.890 1.870 1.870 1.870
Nbr of stocks (in thousands) 20,00,000 20,00,000 20,00,000 20,00,000 20,00,000 20,00,000 - -
Announcement Date 18/02/22 24/02/23 23/02/24 21/02/25 20/02/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22x0.21x0.55x4.74% 11Cr
17.75x2.1x9.39x1.49% 17TCr
10.31x1.42x6.13x0.94% 2.44TCr
41.33x5.96x25.6x-.--% 2.27TCr
17.62x1.87x19.99x1.72% 569.14Cr
4.97x1.98x5.56x4.67% 488.65Cr
14.28x0.71x5.66x8.2% 484.99Cr
12.24x1.01x7.57x1.6% 437.59Cr
45.74x - - 1.96% 435.21Cr
7.38x0.96x3.07x3.96% 429.2Cr
Average 19.36x 1.80x 9.28x 2.93% 2.51TCr
Weighted average by Cap. 19.06x 2.32x 10.51x 1.55%

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