Company Valuation: Pacific Pipe

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 2,416 3,115 2,455 1,690 1,096 1,373
Change - 28.96% -21.19% -31.18% -35.16% 25.3%
Enterprise Value (EV) 1 3,889 4,903 4,102 3,079 2,545 2,717
Change - 26.06% -16.33% -24.93% -17.36% 6.79%
P/E 11.9x 5.62x -7.29x -30.1x -5.38x 17.1x
PBR 0.97x 1.06x 1.2x 0.84x 0.61x 0.73x
PEG - 0x 0x 0.4x -0x -0x
Capitalization / Revenue 0.33x 0.32x 0.25x 0.19x 0.15x 0.19x
EV / Revenue 0.53x 0.5x 0.42x 0.35x 0.34x 0.37x
EV / EBITDA 9.52x 5.74x -20.7x 40.9x -35.7x 12.6x
EV / EBIT 13.6x 6.62x -13.3x -133x -15.5x 20.9x
EV / FCF 75.9x -16.9x 5.1x 11.7x 1,028x 31x
FCF Yield 1.32% -5.93% 19.6% 8.52% 0.1% 3.22%
Dividend per Share 2 0.18 0.84 - - - 0.08
Rate of return 4.92% 17.8% - - - 3.85%
EPS 2 0.3076 0.8404 -0.51 -0.0851 -0.3087 0.1218
Distribution rate 58.5% 99.9% - - - 65.7%
Net sales 1 7,382 9,716 9,871 8,727 7,475 7,273
EBITDA 1 408.4 854 -197.9 75.27 -71.28 216
EBIT 1 287 740.1 -308.1 -23.2 -164.6 130
Net income 1 203 554.7 -335 -56.15 -203.8 80.38
Net Debt 1 1,474 1,788 1,647 1,390 1,449 1,345
Reference price 2 3.660 4.720 3.720 2.560 1.660 2.080
Nbr of stocks (in thousands) 6,60,000 6,60,000 6,60,000 6,60,000 6,60,000 6,60,000
Announcement Date 19/02/21 22/02/22 23/02/23 22/02/24 24/02/25 25/02/26
1THB in Million2THB
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.63x1.89x10.41x0.53% 3.43TCr
12.53x0.47x4.67x4.53% 1.9TCr
20.65x1.98x10.31x0.21% 1.26TCr
9.26x0.67x4.37x4.45% 1.14TCr
10.07x - - - 1.02TCr
12.08x0.86x6.18x4.06% 1.01TCr
56.94x5x28.35x0.47% 1TCr
87.82x1.55x16.58x0.63% 920.15Cr
Average 28.87x 1.77x 11.55x 2.13% 1.46TCr
Weighted average by Cap. 25.24x 1.68x 10.55x 1.96%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA