FINE METAL TECHNOLOGIES |
End-of-day quote
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|
5-day change | 1st Jan Change | ||
| 35.5 THB | 0.00% |
|
0.00% | +2.90% |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 1,212 | 1,128 | 931.2 | 1,536 | 1,512 | 1,656 |
| Enterprise Value (EV) 1 | 1,769 | 1,619 | 1,673 | 2,327 | 2,114 | 2,314 |
| P/E ratio | 8.38 x | 9.08 x | 19.8 x | 7 x | 15.3 x | 17.2 x |
| Yield | 6.44% | 6.91% | 8.38% | 8.2% | 8.73% | 7.61% |
| Capitalization / Revenue | 0.19 x | 0.19 x | 0.19 x | 0.21 x | 0.19 x | 0.24 x |
| EV / Revenue | 0.27 x | 0.27 x | 0.35 x | 0.32 x | 0.27 x | 0.34 x |
| EV / EBITDA | 7.08 x | 6.79 x | 10.1 x | 7.55 x | 10.7 x | 11.1 x |
| EV / FCF | 9.21 x | 17.6 x | -12.1 x | -52 x | 7.04 x | 38.3 x |
| FCF Yield | 10.9% | 5.68% | -8.24% | -1.92% | 14.2% | 2.61% |
| Price to Book | 0.78 x | 0.7 x | 0.59 x | 0.89 x | 0.9 x | 1 x |
| Nbr of stocks (in thousands) | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 |
| Reference price 2 | 25.25 | 23.50 | 19.40 | 32.00 | 31.50 | 34.50 |
| Announcement Date | 22/02/19 | 27/02/20 | 19/02/21 | 22/02/22 | 22/02/23 | 23/02/24 |
1THB in Million2THB
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 6,502 | 6,072 | 4,809 | 7,372 | 7,964 | 6,761 |
| EBITDA 1 | 250 | 238.5 | 166.3 | 308.1 | 198.5 | 209.3 |
| EBIT 1 | 181.1 | 171.9 | 100.9 | 238.5 | 134.5 | 156.9 |
| Operating Margin | 2.78% | 2.83% | 2.1% | 3.23% | 1.69% | 2.32% |
| Earnings before Tax (EBT) 1 | 181.6 | 155.1 | 58.68 | 274.4 | 123.8 | 120.4 |
| Net income 1 | 144.6 | 124.2 | 47.07 | 219.5 | 98.95 | 96.46 |
| Net margin | 2.22% | 2.05% | 0.98% | 2.98% | 1.24% | 1.43% |
| EPS 2 | 3.013 | 2.588 | 0.9806 | 4.573 | 2.062 | 2.009 |
| Free Cash Flow 1 | 192.1 | 92.02 | -137.8 | -44.77 | 300.3 | 60.46 |
| FCF margin | 2.95% | 1.52% | -2.86% | -0.61% | 3.77% | 0.89% |
| FCF Conversion (EBITDA) | 76.85% | 38.58% | - | - | 151.31% | 28.89% |
| FCF Conversion (Net income) | 132.83% | 74.09% | - | - | 303.51% | 62.69% |
| Dividend per Share 2 | 1.625 | 1.625 | 1.625 | 2.625 | 2.750 | 2.625 |
| Announcement Date | 22/02/19 | 27/02/20 | 19/02/21 | 22/02/22 | 22/02/23 | 23/02/24 |
1THB in Million2THB
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 557 | 491 | 742 | 791 | 602 | 658 |
| Net Cash position 1 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.227 x | 2.059 x | 4.46 x | 2.566 x | 3.033 x | 3.143 x |
| Free Cash Flow 1 | 192 | 92 | -138 | -44.8 | 300 | 60.5 |
| ROE (net income / shareholders' equity) | 9.52% | 7.85% | 2.96% | 13.3% | 5.82% | 5.79% |
| ROA (Net income/ Total Assets) | 3.78% | 3.77% | 2.16% | 4.65% | 2.64% | 3.36% |
| Assets 1 | 3,830 | 3,296 | 2,178 | 4,726 | 3,751 | 2,867 |
| Book Value Per Share 2 | 32.50 | 33.50 | 32.80 | 35.80 | 35.00 | 34.40 |
| Cash Flow per Share 2 | 0.1600 | 0.3100 | 1.920 | 2.170 | 0.5600 | 1.320 |
| Capex 1 | 44.7 | 27 | 35.6 | 69 | 55.3 | 30.9 |
| Capex / Sales | 0.69% | 0.44% | 0.74% | 0.94% | 0.69% | 0.46% |
| Announcement Date | 22/02/19 | 27/02/20 | 19/02/21 | 22/02/22 | 22/02/23 | 23/02/24 |
1THB in Million2THB
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| +2.90% | 4.66Cr | |
| -.--% | 720.38Cr | |
| -11.69% | 682.41Cr | |
| +6.11% | 430.8Cr | |
| +34.07% | 404.47Cr | |
| -5.49% | 398.4Cr | |
| +54.78% | 396.58Cr | |
| -17.53% | 394.33Cr | |
| +3.89% | 361.07Cr | |
| -19.28% | 248.67Cr |
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