Company Valuation: CP ALL

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 5,30,003 6,13,097 5,03,054 5,00,808 3,87,650 3,76,511 - -
Change - 15.68% -17.95% -0.45% -22.59% -2.87% - -
Enterprise Value (EV) 1 8,95,146 8,93,025 7,63,083 7,37,120 6,60,360 7,07,428 6,81,125 6,67,043
Change - -0.24% -14.55% -3.4% -10.41% 7.13% -3.72% -2.07%
P/E 44.4x 49.1x 27.9x 20.1x 14x 12.2x 11.3x 10.5x
PBR 5.09x 6.09x 4.53x 3.95x 2.83x 2.47x 2.24x 2.04x
PEG - 10.88x 0.6x 0.5x 1.2x 1.1x 1.43x 1.31x
Capitalization / Revenue 0.94x 0.74x 0.56x 0.52x 0.39x 0.36x 0.35x 0.33x
EV / Revenue 1.58x 1.08x 0.85x 0.77x 0.67x 0.69x 0.63x 0.59x
EV / EBITDA 20.8x 12.3x 9.78x 8.45x 7.29x 7.41x 6.86x 6.4x
EV / EBIT 49.2x 24.9x 18.4x 14.7x 12.5x 12.4x 11.4x 10.5x
EV / FCF 27.8x 20.2x 12.1x 13.8x 13.3x 20.3x 14.6x 12.9x
FCF Yield 3.6% 4.95% 8.24% 7.22% 7.54% 4.93% 6.83% 7.77%
Dividend per Share 2 0.6 0.75 1 1 1.65 1.74 1.901 2.091
Rate of return 1.02% 1.1% 1.79% 1.79% 3.79% 4.12% 4.5% 4.95%
EPS 2 1.33 1.39 2.01 2.77 3.1 3.454 3.728 4.028
Distribution rate 45.1% 54% 49.8% 36.1% 53.2% 50.4% 51% 51.9%
Net sales 1 5,65,207 8,29,099 8,95,281 9,58,998 9,90,663 10,32,456 10,85,867 11,31,664
EBITDA 1 42,992 72,352 78,034 87,269 90,540 95,486 99,269 1,04,154
EBIT 1 18,196 35,808 41,451 50,064 52,764 56,888 59,955 63,564
Net income 1 12,985 13,272 18,482 25,346 28,206 31,148 33,438 36,031
Net Debt 1 3,65,143 2,79,928 2,60,029 2,36,312 2,72,710 3,30,917 3,04,614 2,90,532
Reference price 2 59.00 68.25 56.00 55.75 43.50 42.25 42.25 42.25
Nbr of stocks (in thousands) 89,83,101 89,83,101 89,83,101 89,83,101 89,11,503 89,11,503 - -
Announcement Date 24/02/22 23/02/23 23/02/24 25/02/25 25/02/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
12.23x0.69x7.41x4.12% 1.12TCr
36.24x1.17x17.87x0.96% 83TCr
24.01x1.15x10.02x0.99% 5.02TCr
15.56x0.54x7.86x3.3% 3.91TCr
15.57x0.62x11.58x2.85% 3.83TCr
20.46x0.88x5.88x6.18% 3.55TCr
11.85x0.33x6.21x2.52% 3.51TCr
25.99x0.81x9.41x2.84% 3.21TCr
11.78x0.46x5.79x3.98% 3.11TCr
16.4x0.59x6.67x2.96% 2.69TCr
Average 19.01x 0.72x 8.87x 3.07% 11.27TCr
Weighted average by Cap. 31.34x 1.04x 15.27x 1.53%

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