Company Valuation: Indorama Ventures

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,42,829 2,28,793 1,52,997 1,39,802 90,394 1,50,189 - -
Change - -5.78% -33.13% -8.62% -35.34% 66.15% - -
Enterprise Value (EV) 1 4,50,600 4,61,362 3,88,646 3,84,702 3,26,544 3,78,644 3,56,793 3,39,660
Change - 2.39% -15.76% -1.01% -15.12% 15.96% -5.77% -4.8%
P/E 9.51x 7.56x -13.2x -6.82x -12.3x 19.5x 19.1x 16.3x
PBR 1.53x 1.23x 0.93x 1.11x 0.77x 1.21x 1.13x 1.06x
PEG - 0.4x 0x -0.1x 0.2x -0x 8.12x 1x
Capitalization / Revenue 0.52x 0.35x 0.28x 0.26x 0.2x 0.31x 0.31x 0.3x
EV / Revenue 0.96x 0.7x 0.72x 0.71x 0.73x 0.77x 0.73x 0.68x
EV / EBITDA 7.06x 6.17x 11.3x 9.37x 13.2x 7.96x 7.26x 6.58x
EV / EBIT 10.7x 9.41x 58.2x 29.4x -382x 15.3x 15.1x 13.4x
EV / FCF 32.6x 8.81x 13.3x 20.2x 10.8x 36.8x 20.2x 14.2x
FCF Yield 3.07% 11.3% 7.49% 4.96% 9.24% 2.72% 4.95% 7.02%
Dividend per Share 2 1 1.45 0.925 0.7 0.7 0.7143 0.7964 0.83
Rate of return 2.31% 3.56% 3.39% 2.81% 4.35% 2.67% 2.98% 3.1%
EPS 2 4.55 5.39 -2.06 -3.65 -1.309 1.369 1.401 1.64
Distribution rate 22% 26.9% -44.9% -19.2% -53.5% 52.2% 56.8% 50.6%
Net sales 1 4,68,108 6,56,266 5,41,458 5,41,583 4,47,246 4,89,148 4,90,670 4,96,922
EBITDA 1 63,825 74,772 34,373 41,078 24,681 47,561 49,167 51,635
EBIT 1 42,089 49,050 6,675 13,089 -854.8 24,669 23,571 25,405
Net income 1 26,288 31,006 -10,798 -19,262 -7,348 7,636 8,000 9,374
Net Debt 1 2,07,771 2,32,569 2,35,649 2,44,900 2,36,150 2,28,455 2,06,604 1,89,471
Reference price 2 43.25 40.75 27.25 24.90 16.10 26.75 26.75 26.75
Nbr of stocks (in thousands) 56,14,552 56,14,552 56,14,552 56,14,552 56,14,552 56,14,552 - -
Announcement Date 27/02/22 25/02/23 23/02/24 26/02/25 02/03/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
31.14x7.12x18.2x1.26% 24TCr
28.11x4.34x13.98x2.11% 12TCr
31.03x3.75x19.22x0.93% 8.34TCr
19.45x6.93x30.79x3.8% 7.32TCr
91.51x6.71x15.61x2.35% 6.86TCr
82.07x1.21x8.18x6.33% 3.49TCr
10.5x1.13x6.13x3.15% 3.09TCr
15.78x1.79x10.55x2.56% 2.51TCr
8.06x2.6x6.11x5.51% 2.21TCr
Average 35.29x 3.95x 14.31x 3.11% 7.75TCr
Weighted average by Cap. 35.66x 5.27x 16.94x 2.26%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Indorama Ventures

Historical PBR trend

Valuation ratios - PBR - Indorama Ventures

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Indorama Ventures

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Indorama Ventures


Year-on-year evolution of the Yield

Valuation ratios - Yield - Indorama Ventures
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