Financials Bhiraj Office Leasehold Real Estate Investment Trust

Equities

BOFFICE

TH8406010000

Commercial REITs

End-of-day quote Thailand S.E. 03:30:00 15/05/2024 am IST 5-day change 1st Jan Change
4.9 THB -0.41% Intraday chart for Bhiraj Office Leasehold Real Estate Investment Trust -0.81% -2.00%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 8,606 8,190 6,641 5,866 3,689 3,616 -
Enterprise Value (EV) 1 9,960 10,040 8,374 5,866 5,844 5,212 5,156
P/E ratio 23.5 x 18.5 x 11.8 x - - 22 x 21.5 x
Yield 4.08% 6.14% 1.63% - - 12.2% 12.5%
Capitalization / Revenue 13.4 x 11.3 x 7.51 x 6.46 x 4.09 x 4.21 x 4.17 x
EV / Revenue 15.5 x 13.9 x 9.47 x 6.46 x 6.48 x 6.07 x 5.94 x
EV / EBITDA 22.7 x 19.6 x 13.2 x - - 8.54 x 8.33 x
EV / FCF - - - - - - -
FCF Yield - - - - - - -
Price to Book 1.7 x 1.05 x 0.9 x - - 0.54 x 0.56 x
Nbr of stocks (in thousands) 5,15,310 7,37,872 7,37,872 7,37,872 7,37,872 7,37,872 -
Reference price 2 16.70 11.10 9.000 7.950 5.000 4.900 4.900
Announcement Date 21/02/20 24/02/21 25/02/22 23/02/23 22/02/24 - -
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 643.4 723.5 884.1 907.8 901.4 858 868
EBITDA 1 438.8 512.3 633.3 - - 610 619
EBIT 1 438.8 512.3 633.3 - - 610 619
Operating Margin 68.19% 70.8% 71.63% - - 71.1% 71.31%
Earnings before Tax (EBT) 1 366.8 443.9 562.5 - 361.1 165 169
Net income 1 366.8 443.9 562.5 414.8 361.1 165 169
Net margin 57.01% 61.36% 63.62% 45.69% 40.06% 19.23% 19.47%
EPS 2 0.7118 0.6016 0.7623 - - 0.2230 0.2280
Free Cash Flow - - - - - - -
FCF margin - - - - - - -
FCF Conversion (EBITDA) - - - - - - -
FCF Conversion (Net income) - - - - - - -
Dividend per Share 2 0.6810 0.6817 0.1466 - - 0.6000 0.6110
Announcement Date 21/02/20 24/02/21 25/02/22 23/02/23 22/02/24 - -
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 1,355 1,849 1,733 - 2,155 1,596 1,540
Net Cash position 1 - - - - - - -
Leverage (Debt/EBITDA) 3.087 x 3.61 x 2.736 x - - 2.616 x 2.488 x
Free Cash Flow - - - - - - -
ROE (net income / shareholders' equity) 8.25% 7.1% 7.41% - 4.98% 2.4% 2.4%
ROA (Net income/ Total Assets) 5.96% 5.21% 5.45% - 3.65% 1.7% 1.8%
Assets 1 6,150 8,513 10,321 - 9,906 9,706 9,389
Book Value Per Share 2 9.800 10.60 10.00 - - 9.130 8.750
Cash Flow per Share 2 0.8600 - 0.7900 - - 0.6700 0.6800
Capex - - - - - - -
Capex / Sales - - - - - - -
Announcement Date 21/02/20 24/02/21 25/02/22 23/02/23 22/02/24 - -
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

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
1
Last Close Price
4.9 THB
Average target price
5.5 THB
Spread / Average Target
+12.24%
Consensus

Annual profits - Rate of surprise

  1. Stock Market
  2. Equities
  3. BOFFICE Stock
  4. Financials Bhiraj Office Leasehold Real Estate Investment Trust
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