Company Valuation: Netbay

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,720 5,000 4,960 3,400 4,260 2,460 - -
Change - 5.93% -0.8% -31.45% 25.29% -42.25% - -
Enterprise Value (EV) 1 4,720 4,938 4,878 3,292 4,068 2,254 2,137 2,083
Change - 4.62% -1.22% -32.5% 23.57% -44.6% -5.18% -2.53%
P/E 28.4x 29.4x 27.6x 15.7x 16x 16.4x 9.92x 8.98x
PBR 9.79x - - - - - - -
PEG - 12.2x 4.69x 0.8x 0.7x -0.4x 0.2x 0.9x
Capitalization / Revenue 11.8x 10.9x 10.2x 5.85x 5.85x 4.52x 3.13x 2.88x
EV / Revenue 11.8x 10.8x 10x 5.66x 5.59x 4.14x 2.72x 2.44x
EV / EBITDA 23.4x 21.9x 20.6x 11.1x 11.2x 10.2x 6.16x 5.47x
EV / EBIT 25.2x 23.3x 22.1x 12.1x 12.2x 11.9x 6.85x 6.06x
EV / FCF 23.1x 36.8x 25.1x 27.2x 14.7x 12.7x 8.38x 7.39x
FCF Yield 4.33% 2.72% 3.98% 3.67% 6.82% 7.9% 11.9% 13.5%
Dividend per Share 2 0.7945 0.8162 0.8983 1.179 1.579 0.67 1.12 1.23
Rate of return 3.37% 3.26% 3.62% 6.94% 7.41% 5.45% 9.11% 10%
EPS 2 0.83 0.85 0.9 1.08 1.33 0.75 1.24 1.37
Distribution rate 95.7% 96% 99.8% 109% 119% 89.3% 90.3% 89.8%
Net sales 1 400.5 457.2 487.4 581.5 728.2 544 786 853
EBITDA 1 201.9 225.5 236.6 296.7 364.3 222 347 381
EBIT 1 187.1 211.7 220.8 271 333.7 189 312.1 343.9
Net income 1 165.6 169.7 180.3 215.9 265.6 150 248 273
Net Debt 1 - -61.81 -82.15 -107.6 -191.5 -206 -322.7 -376.7
Reference price 2 23.60 25.00 24.80 17.00 21.30 12.30 12.30 12.30
Nbr of stocks (in thousands) 2,00,000 2,00,000 2,00,000 2,00,000 2,00,000 2,00,000 - -
Announcement Date 24/02/22 23/02/23 22/02/24 21/02/25 25/02/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.37x5.25x12.83x0.66% 22TCr
-496.85x34.83x143.08x-.--% 10TCr
-16.34x7.2x12.31x-.--% 4.66TCr
63.99x6.19x24.59x-.--% 1.84TCr
63.6x6.04x20.08x-.--% 1.52TCr
214.05x11.69x29.98x-.--% 1.29TCr
-40.41x142.59x-48x - 626.44Cr
30.38x7.24x15.91x-.--% 603.16Cr
18.24x3.66x9.78x-.--% 537.11Cr
Average -15.33x 24.97x 24.51x 0.08% 4.78TCr
Weighted average by Cap. -94.58x 14.71x 43.87x 0.34%

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