Financials L.P.N. Development

Equities

LPN

TH0456010Z04

Real Estate Development & Operations

End-of-day quote Thailand S.E. 03:30:00 25/06/2024 am IST 5-day change 1st Jan Change
3.22 THB 0.00% Intraday chart for L.P.N. Development 0.00% -19.10%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 6,369 6,777 7,126 6,718 5,788 4,683 - -
Enterprise Value (EV) 1 13,509 14,627 16,292 16,770 5,788 13,881 13,703 13,484
P/E ratio 5.09 x 9.51 x 23.3 x 11 x 16.6 x 10.9 x 9.74 x 9.04 x
Yield 13.7% 30% 3.06% 4.76% - 4.8% 5.14% 5.67%
Capitalization / Revenue 0.64 x 0.91 x 1.28 x 0.65 x 0.78 x 0.6 x 0.56 x 0.49 x
EV / Revenue 1.36 x 1.96 x 2.92 x 1.63 x 0.78 x 1.79 x 1.65 x 1.41 x
EV / EBITDA 8.5 x 13.7 x 22.3 x 15.3 x 9.29 x 18.2 x 17.1 x 15.6 x
EV / FCF -10.9 x 33.5 x -31.7 x 54.8 x - 11 x 5.24 x 7.02 x
FCF Yield -9.18% 2.99% -3.15% 1.82% - 9.08% 19.1% 14.2%
Price to Book 0.48 x 0.57 x 0.63 x 0.57 x - 0.39 x 0.38 x 0.37 x
Nbr of stocks (in thousands) 14,54,199 14,54,199 14,54,199 14,54,199 14,54,199 14,54,199 - -
Reference price 2 4.380 4.660 4.900 4.620 3.980 3.220 3.220 3.220
Announcement Date 13/02/20 11/02/21 10/02/22 16/02/23 15/02/24 - - -
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 9,954 7,458 5,570 10,276 7,407 7,753 8,318 9,573
EBITDA 1 1,589 1,064 729.6 1,093 623 762.6 800.7 866.3
EBIT 1 1,505 1,041 622.4 985 508.9 596.9 638.5 735.1
Operating Margin 15.12% 13.95% 11.17% 9.59% 6.87% 7.7% 7.68% 7.68%
Earnings before Tax (EBT) 1 1,581 935.2 385.2 818 492.4 550.2 584.1 665.4
Net income 1 1,256 716.3 302.3 612.1 352.7 431.2 482.7 521.7
Net margin 12.62% 9.61% 5.43% 5.96% 4.76% 5.56% 5.8% 5.45%
EPS 2 0.8600 0.4900 0.2100 0.4200 0.2400 0.2949 0.3305 0.3562
Free Cash Flow 1 -1,239 437.1 -513.6 305.9 - 1,260 2,614 1,920
FCF margin -12.45% 5.86% -9.22% 2.98% - 16.25% 31.43% 20.06%
FCF Conversion (EBITDA) - 41.09% - 27.98% - 165.23% 326.45% 221.64%
FCF Conversion (Net income) - 61.02% - 49.97% - 292.22% 541.56% 368.02%
Dividend per Share 2 0.6000 1.400 0.1500 0.2200 - 0.1544 0.1654 0.1824
Announcement Date 13/02/20 11/02/21 10/02/22 16/02/23 15/02/24 - - -
1THB in Million2THB
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1
Net sales 1 - - - 2,784 1,603 2,214 1,986 4,198 1,887 1,816 1,732 3,548 1,991 1,867 1,407
EBITDA 1 - - - 447.7 179.7 306.9 - 381.9 127.4 204.3 146.3 363.9 176.2 82.77 164.1
EBIT 1 - - - 394.7 152.7 280.8 219.6 354.7 99.27 191.5 120.9 312.6 146.3 50.07 131.8
Operating Margin - - - 14.18% 9.52% 12.68% 11.06% 8.45% 5.26% 10.55% 6.98% 8.81% 7.35% 2.68% 9.37%
Earnings before Tax (EBT) 1 - - - 305.2 45.51 244.1 184.2 301.7 89.07 186.4 119 305.4 141.1 45.81 110.2
Net income 1 - 370.4 - 243.9 32.03 191.3 147.4 235.8 37.53 145 87.1 232.1 103.9 16.6 83.55
Net margin - - - 8.76% 2% 8.64% 7.42% 5.62% 1.99% 7.99% 5.03% 6.54% 5.22% 0.89% 5.94%
EPS - 0.2500 - 0.1700 - - 0.1000 - - - 0.0600 - - - -
Dividend per Share 0.4000 1.000 0.4000 0.1000 - - - - - - - - - - -
Announcement Date 13/02/20 06/08/20 11/02/21 05/08/21 10/02/22 05/05/22 04/08/22 03/11/22 16/02/23 11/05/23 03/08/23 03/08/23 02/11/23 15/02/24 09/05/24
1THB in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 7,140 7,850 9,166 10,051 - 9,198 9,020 8,801
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 4.494 x 7.379 x 12.56 x 9.194 x - 12.06 x 11.26 x 10.16 x
Free Cash Flow 1 -1,239 437 -514 306 - 1,260 2,614 1,920
ROE (net income / shareholders' equity) 9.65% 5.74% 2.6% 5.92% - 3.58% 4.17% 4.16%
ROA (Net income/ Total Assets) 5.62% 3.04% 1.28% 2.88% - 1.56% 1.67% 2.14%
Assets 1 22,362 23,546 23,698 21,292 - 27,581 28,961 24,379
Book Value Per Share 2 9.030 8.130 7.840 8.160 - 8.320 8.500 8.690
Cash Flow per Share -0.8200 0.3400 -0.3400 0.2200 - - - -
Capex 1 44.7 56.8 13.1 11.3 - 54 81 123
Capex / Sales 0.45% 0.76% 0.24% 0.11% - 0.7% 0.97% 1.28%
Announcement Date 13/02/20 11/02/21 10/02/22 16/02/23 15/02/24 - - -
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

Trading Rating
Investor Rating
ESG Refinitiv
D
More Ratings
Sell
Consensus
Buy
Mean consensus
SELL
Number of Analysts
7
Last Close Price
3.22 THB
Average target price
2.864 THB
Spread / Average Target
-11.05%
Consensus
  1. Stock Market
  2. Equities
  3. LPN Stock
  4. Financials L.P.N. Development