Company Valuation: Forth Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 19,830 30,166 21,514 9,915 5,378 14,218 -
Change - 52.12% -28.68% -53.91% -45.75% 164.35% -
Enterprise Value (EV) 1 22,409 30,166 21,514 9,915 5,378 17,776 17,692
Change - 34.61% -28.68% -53.91% -45.75% 230.5% -0.47%
P/E 27.5x 38.9x 37.7x 44.2x 6.53x 15x 12.9x
PBR 12x - - - - 4x 3.3x
PEG - 4.99x -1.4x -0.7x 0x 1x 0.8x
Capitalization / Revenue 2.33x 3.2x 2.27x 1.13x 0.47x 1.17x 1.11x
EV / Revenue 2.63x 3.2x 2.27x 1.13x 0.47x 1.46x 1.39x
EV / EBITDA 16.8x 19.4x 14.4x 8.54x 2.63x 6.91x 6.27x
EV / EBIT 27.2x 29.6x 25.6x 23.5x 3.97x 9.92x 8.81x
EV / FCF - -41.3x 36.3x -70.7x 5.31x 41.1x 47.9x
FCF Yield - -2.42% 2.75% -1.42% 18.8% 2.44% 2.09%
Dividend per Share 2 0.45 0.52 0.47 - 0.21 0.3 0.35
Rate of return 2.12% 1.61% 2.04% - 3.65% 1.97% 2.3%
EPS 2 0.77 0.83 0.61 0.24 0.88 1.01 1.18
Distribution rate 58.4% 62.7% 77% - 23.9% 29.7% 29.7%
Net sales 1 8,513 9,431 9,492 8,767 11,350 12,134 12,761
EBITDA 1 1,337 1,553 1,493 1,162 2,044 2,572 2,822
EBIT 1 825.1 1,019 840.8 422.6 1,354 1,792 2,007
Net income 1 722.8 774.9 572.6 221.3 823.7 949 1,107
Net Debt 1 2,579 - - - - 3,558 3,474
Reference price 2 21.20 32.25 23.00 10.60 5.75 15.20 15.20
Nbr of stocks (in thousands) 9,35,375 9,35,375 9,35,375 9,35,375 9,35,375 9,35,375 -
Announcement Date 28/02/22 27/02/23 28/02/24 02/03/25 02/03/26 - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.36x1.41x6.66x2.07% 40Cr
33.12x11.73x21.42x0.83% 12TCr
44.09x7.41x31.97x1.66% 4.97TCr
27.31x1.27x14.39x-.--% 4.15TCr
21.61x1.84x9.03x1.4% 3.53TCr
29.8x2.14x14.28x1.53% 2.98TCr
29.25x4.46x17.82x-.--% 2.84TCr
10.66x5.98x16.55x1.4% 2.63TCr
30x4.66x18.4x0.76% 1.75TCr
24.64x3.12x13.08x-.--% 1.73TCr
Average 26.49x 4.40x 16.36x 0.96% 3.64TCr
Weighted average by Cap. 30.07x 6.46x 19.08x 0.9%

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

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  3. FORTH Stock
  4. Valuation Forth Corporation