Financials Digital Telecommunications Infrastructure Fund

Equities

DIF

TH5097010000

Integrated Telecommunications Services

End-of-day quote Thailand S.E. 03:30:00 09/05/2024 am IST 5-day change 1st Jan Change
8 THB +1.27% Intraday chart for Digital Telecommunications Infrastructure Fund +2.56% +3.23%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2023 2024 2025
Capitalization 1 1,74,359 1,37,148 1,47,780 1,40,338 85,053 85,053 -
Enterprise Value (EV) 1 2,00,203 1,64,548 1,84,164 1,75,365 1,07,364 1,12,062 1,10,254
P/E ratio 27.7 x 6.07 x 11.9 x 10.9 x 7.41 x 7.88 x 7.31 x
Yield 6.1% 8% 7.51% 7.91% 11.7% 11.5% 11.2%
Capitalization / Revenue 16.7 x 10.6 x 10 x 9.52 x 6.01 x 5.99 x 5.95 x
EV / Revenue 19.2 x 12.7 x 12.5 x 11.9 x 7.58 x 7.9 x 7.71 x
EV / EBITDA 20.4 x 13.9 x 12.8 x 12.2 x 7.79 x 8.09 x 7.91 x
EV / FCF -4.31 x -32.6 x - - 6.7 x 8.13 x 8.86 x
FCF Yield -23.2% -3.07% - - 14.9% 12.3% 11.3%
Price to Book 1.08 x 0.79 x 0.85 x 0.8 x 0.49 x 0.5 x 0.5 x
Nbr of stocks (in thousands) 1,06,31,654 1,06,31,654 1,06,31,654 1,06,31,654 1,06,31,654 1,06,31,654 -
Reference price 2 16.40 12.90 13.90 13.20 8.000 8.000 8.000
Announcement Date 04/02/19 04/02/20 01/03/21 04/02/22 - - -
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2023 2024 2025
Net sales 1 10,439 12,938 14,706 14,742 14,161 14,192 14,295
EBITDA 1 9,831 11,810 14,347 14,390 13,790 13,850 13,931
EBIT 1 9,831 11,810 14,347 14,390 13,821 13,850 13,931
Operating Margin 94.17% 91.28% 97.56% 97.61% 97.6% 97.59% 97.45%
Earnings before Tax (EBT) 1 9,855 20,993 13,426 - 11,349 11,442 11,529
Net income 1 9,855 20,992 13,424 12,888 11,507 11,541 11,672
Net margin 94.4% 162.25% 91.28% 87.43% 81.26% 81.32% 81.65%
EPS 2 0.5931 2.125 1.167 1.212 1.079 1.015 1.094
Free Cash Flow 1 -46,419 -5,043 - - 16,033 13,789 12,443
FCF margin -444.66% -38.98% - - 113.22% 97.16% 87.05%
FCF Conversion (EBITDA) - - - - 116.27% 99.56% 89.32%
FCF Conversion (Net income) - - - - 139.33% 119.48% 106.6%
Dividend per Share 2 1.000 1.032 1.044 1.044 0.9390 0.9231 0.8988
Announcement Date 04/02/19 04/02/20 01/03/21 04/02/22 - - -
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2023 2024 2025
Net Debt 1 25,844 27,400 36,384 35,028 22,311 27,008 25,201
Net Cash position 1 - - - - - - -
Leverage (Debt/EBITDA) 2.629 x 2.32 x 2.536 x 2.434 x 1.618 x 1.95 x 1.809 x
Free Cash Flow 1 -46,419 -5,043 - - 16,033 13,789 12,443
ROE (net income / shareholders' equity) 7.16% 6.52% 7.15% 7.23% 6.71% 6.78% 6.77%
ROA (Net income/ Total Assets) 5.61% 5.29% 5.72% 5.67% 5.33% 5.33% 5.4%
Assets 1 1,75,660 3,96,842 2,34,727 2,27,342 2,15,754 2,16,385 2,16,157
Book Value Per Share 2 15.20 16.20 16.40 16.60 16.40 16.00 16.00
Cash Flow per Share 2 0.5300 1.080 1.660 1.330 1.090 1.080 1.080
Capex 55,238 15,680 - - - - 10
Capex / Sales 529.14% 121.19% - - - - 0.07%
Announcement Date 04/02/19 04/02/20 01/03/21 04/02/22 - - -
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
BUY
Number of Analysts
5
Last Close Price
8 THB
Average target price
10.62 THB
Spread / Average Target
+32.74%
Consensus

Annual profits - Rate of surprise

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  4. Financials Digital Telecommunications Infrastructure Fund
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