Financials LH Shopping Centers Leasehold Real Estate Investment Trust

Equities

LHSC

TH6180010006

Commercial REITs

End-of-day quote Thailand S.E. 03:30:00 24/05/2024 am IST 5-day change 1st Jan Change
9.75 THB -0.51% Intraday chart for LH Shopping Centers Leasehold Real Estate Investment Trust -1.02% -2.50%

Valuation

Fiscal Period: December 2024 2025 2026
Capitalization 1 4,759 - -
Enterprise Value (EV) 1 4,759 4,759 4,759
P/E ratio 8.63 x 8.48 x 8.41 x
Yield 9.85% 10.1% 10.1%
Capitalization / Revenue 3.59 x 3.48 x 3.38 x
EV / Revenue 3.59 x 3.48 x 3.38 x
EV / EBITDA 8.19 x 8.04 x 8.01 x
EV / FCF 7.98 x 7.82 x 7.84 x
FCF Yield 12.5% 12.8% 12.8%
Price to Book 0.78 x 0.77 x 0.76 x
Nbr of stocks (in thousands) 4,88,065 - -
Reference price 2 9.750 9.750 9.750
Announcement Date - - -
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2023 2024 2025 2026
Net sales 1 - 1,327 1,367 1,408
EBITDA 1 - 581 592 594
EBIT 1 - 581 592 594
Operating Margin - 43.78% 43.31% 42.19%
Earnings before Tax (EBT) 1 554.2 549 562 565
Net income 1 554.2 549 562 565
Net margin - 41.37% 41.11% 40.13%
EPS 2 - 1.130 1.150 1.160
Free Cash Flow 1 - 596.1 608.2 607.2
FCF margin - 44.92% 44.49% 43.12%
FCF Conversion (EBITDA) - 102.59% 102.74% 102.22%
FCF Conversion (Net income) - 108.57% 108.22% 107.47%
Dividend per Share 2 - 0.9600 0.9800 0.9800
Announcement Date 28/02/24 - - -
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2023 2024 2025 2026
Net Debt - - - -
Net Cash position - - - -
Leverage (Debt/EBITDA) - - - -
Free Cash Flow 1 - 596 608 607
ROE (net income / shareholders' equity) - 9.1% 9.2% 9.1%
ROA (Net income/ Total Assets) - 8.1% 8.2% 8.2%
Assets 1 - 6,778 6,854 6,890
Book Value Per Share 2 - 12.50 12.60 12.80
Cash Flow per Share 2 - 1.090 1.130 1.130
Capex - - - -
Capex / Sales - - - -
Announcement Date 28/02/24 - - -
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

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
1
Last Close Price
9.75 THB
Average target price
12 THB
Spread / Average Target
+23.08%
Consensus

Annual profits - Rate of surprise

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