Financials Beryl 8 Plus

Equities

BE8

THA532010008

IT Services & Consulting

End-of-day quote Thailand S.E. Other stock markets 03:30:00 21/05/2024 am IST			5-day change	1st Jan Change
19.6 ^THB	+1.55%		-1.01%	-33.56%

10/05	Beryl 8 Plus Public Company Limited Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
25/04	Beryl 8 Plus Public Company Limited Approves Cash Dividend for the year ended March 31, 2024, Payable on May 23, 2024	CI

Valuation

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Capitalization ¹	8,550	14,679	7,809	5,188	-	-
Enterprise Value (EV) ¹	8,550	14,416	7,976	5,188	5,188	5,188
P/E ratio	63.8 x	89.7 x	32.1 x	17.5 x	14.8 x	14.3 x
Yield	1.03%	0.1%	-	1.73%	2.04%	2.14%
Capitalization / Revenue	22.6 x	18.1 x	3.24 x	1.95 x	1.8 x	1.8 x
EV / Revenue	22.6 x	18.1 x	3.24 x	1.95 x	1.8 x	1.8 x
EV / EBITDA	93.4 x	89.9 x	21.8 x	12.5 x	11.2 x	11 x
EV / FCF	462 x	-129 x	63.7 x	22.4 x	14.9 x	-
FCF Yield	0.22%	-0.78%	1.57%	4.47%	6.71%	-
Price to Book	13.8 x	5.75 x	2.94 x	1.73 x	1.59 x	1.5 x
Nbr of stocks (in thousands)	2,20,000	2,64,709	2,64,709	2,64,709	-	-
Reference price ²	38.86	55.45	29.50	19.60	19.60	19.60
Announcement Date	25/02/22	28/02/23	26/02/24	-	-	-

¹THB in Million²THB

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	312.5	379.1	811	2,409	2,656	2,888	2,877
EBITDA ¹	-	91.58	163.3	357.7	416	463.5	470
EBIT ¹	-	84.14	149	295.3	1,109	1,228	-
Operating Margin	-	22.19%	18.37%	12.26%	41.75%	42.51%	-
Earnings before Tax (EBT) ¹	-	82.2	144.6	282.1	332.5	385	404
Net income ¹	23.64	82.14	138.6	244.4	296.5	350	364
Net margin	7.57%	21.67%	17.09%	10.14%	11.16%	12.12%	12.65%
EPS ²	-	0.6091	0.6182	0.9200	1.120	1.320	1.370
Free Cash Flow ¹	-	18.52	-114.1	122.6	232	348	-
FCF margin	-	4.89%	-14.08%	5.09%	8.73%	12.05%	-
FCF Conversion (EBITDA)	-	20.23%	-	34.26%	55.77%	75.08%	-
FCF Conversion (Net income)	-	22.55%	-	50.15%	78.25%	99.43%	-
Dividend per Share ²	-	0.4000	0.0546	-	0.3400	0.4000	0.4200
Announcement Date	30/06/21	25/02/22	28/02/23	26/02/24	-	-	-

¹THB in Million²THB

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1
Net sales ¹	-	136.6	-	336.6	-	636.5	575	617.2	570.3
EBITDA	-	-	-	-	-	103.8	-	-	-
EBIT ¹	-	29.7	-	57.75	-	94.62	85.88	52.36	44.06
Operating Margin	-	21.75%	-	17.16%	-	14.87%	14.94%	8.48%	7.73%
Earnings before Tax (EBT) ¹	-	29.22	-	55.42	-	84.68	86.5	39.36	41.29
Net income ¹	23.79	30.01	35.12	49.7	61.24	71.97	74.27	36.91	31.44
Net margin	-	21.98%	-	14.77%	-	11.31%	12.92%	5.98%	5.51%
EPS ²	0.1091	-	0.1546	0.2182	0.2500	0.2700	0.2800	0.1000	0.1200
Dividend per Share	-	-	-	-	-	-	-	-	-
Announcement Date	15/04/22	11/08/22	10/11/22	28/02/23	11/05/23	16/08/23	09/11/23	26/02/24	13/05/24

¹THB in Million²THB

Estimates

Balance Sheet Analysis

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	167	-	-	-
Net Cash position	-	-	264	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	0.4675 x	-	-	-
Free Cash Flow ¹	-	18.5	-114	123	232	348	-
ROE (net income / shareholders' equity)	-	23.6%	8.7%	9.16%	10.2%	11.1%	10.8%
ROA (Net income/ Total Assets)	-	15.8%	6%	6.18%	7.23%	8.08%	8.27%
Assets ¹	-	520.3	2,310	3,956	4,104	4,334	4,401
Book Value Per Share ²	-	2.810	9.650	10.00	11.30	12.30	13.10
Cash Flow per Share	-	-	-	-	-	-	-
Capex ¹	-	8.84	16.5	15.3	24	25	-
Capex / Sales	-	2.33%	2.03%	0.64%	0.9%	0.87%	-
Announcement Date	30/06/21	25/02/22	28/02/23	26/02/24	-	-	-

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

Ratings for Beryl 8 Plus

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

19.6 THB

Average target price

27 THB

Spread / Average Target

+37.76%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other IT Services & Consulting

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CROWDSTRIKE HOLDINGS, INC.	+36.82%	8.44TCr
RELX PLC	+11.41%	8.22TCr
INFOSYS LIMITED	-7.05%	7.18TCr
SNOWFLAKE INC.	-18.24%	5.5TCr
HCL TECHNOLOGIES LIMITED	-8.47%	4.35TCr

Other IT Services & Consulting