Company Valuation: Origin Property

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 27,717 29,695 20,737 8,884 4,393 4,221 - -
Change - 7.13% -30.17% -57.16% -50.55% -3.91% - -
Enterprise Value (EV) 1 41,224 49,357 54,885 43,547 29,246 25,589 4,221 4,221
Change - 19.73% 11.2% -20.66% -32.84% -12.5% -83.5% 0%
P/E 8.68x 7.87x 7.63x 8.45x 6.1x 6.49x 6.75x 5.73x
PBR 1.86x 1.64x 1.09x 0.46x 0.22x 0.2x 0.2x 0.19x
PEG - 0.4x -0.3x -0.1x -0.2x -0.67x -1.79x 0.3x
Capitalization / Revenue 1.82x 2.23x 1.5x 0.83x 0.55x 0.6x 0.5x 0.43x
EV / Revenue 2.7x 3.7x 3.96x 4.09x 3.63x 3.63x 0.5x 0.43x
EV / EBITDA 10.1x 11.7x 15.1x 31.2x 50.4x 40.3x 3.99x 4.42x
EV / EBIT 10.6x 12.6x 17.7x 58.9x 260x 260x 7.84x 15x
EV / FCF 91.1x -6.93x -4.67x -73.1x -33.9x -22.9x -2.28x -4.57x
FCF Yield 1.1% -14.4% -21.4% -1.37% -2.95% -4.36% -43.8% -21.9%
Dividend per Share 2 0.54 0.72 0.46 - 0.02 0.0703 0.0763 0.101
Rate of return 4.78% 5.95% 5.44% - 1.12% 4.09% 4.44% 5.87%
EPS 2 1.302 1.538 1.108 0.4286 0.2933 0.265 0.255 0.3
Distribution rate 41.5% 46.8% 41.5% - 6.82% 26.5% 29.9% 33.7%
Net sales 1 15,260 13,341 13,866 10,644 8,052 7,059 8,370 9,929
EBITDA 1 4,080 4,227 3,627 1,398 580.7 634.7 1,058 954
EBIT 1 3,897 3,928 3,106 739.5 112.5 98.5 538.5 281
Net income 1 3,194 3,775 2,718 1,052 719.9 667.3 729.7 826.5
Net Debt 1 13,506 19,662 34,148 34,663 24,853 21,368 - -
Reference price 2 11.300 12.100 8.450 3.620 1.790 1.720 1.720 1.720
Nbr of stocks (in thousands) 24,52,862 24,54,122 24,54,122 24,54,122 24,54,122 24,54,122 - -
Announcement Date 28/02/22 28/02/23 29/02/24 28/02/25 05/03/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
65.21x - - - 6.95TCr
9.52x3.6x7.96x-.--% 2.24TCr
7.05x15.49x18.4x7.16% 1.72TCr
4.4x0.06x0.1x7.35% 1.48TCr
7.48x16.02x - 7.07% 737.43Cr
-1.37x1.53x-18556.4x-.--% 547.82Cr
7.15x0.76x6.2x2.84% 532.31Cr
4.38x13.24x19.21x6.53% 400.04Cr
Average 12.98x 7.24x -3,084.09x 4.42% 1.83TCr
Weighted average by Cap. 34.46x 6.94x -1,459.28x 4.25%

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

-40%: Exceptional extension
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