Financials RS

Equities

RS

TH0705B10Z00

Entertainment Production

End-of-day quote Thailand S.E. 03:30:00 26/04/2024 am IST 5-day change 1st Jan Change
12.7 THB -1.55% Intraday chart for RS +2.42% -8.63%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 11,962 16,565 20,778 15,369 14,869 13,586 -
Enterprise Value (EV) 1 12,409 17,591 23,098 19,389 14,869 17,159 16,598
P/E ratio 34.3 x 31.4 x 163 x 112 x 10.6 x 45 x 30 x
Yield 2.44% - 1.61% 0.07% - 1.36% 1.71%
Capitalization / Revenue 3.31 x 4.39 x 5.82 x 4.35 x 4.07 x 3.19 x 2.94 x
EV / Revenue 3.44 x 4.66 x 6.46 x 5.49 x 4.07 x 4.02 x 3.59 x
EV / EBITDA 11.7 x 14.4 x 34.7 x 21.4 x 21.5 x 16.3 x 12.6 x
EV / FCF 29.8 x 21.8 x 31.6 x 49.8 x - 24.6 x 47.5 x
FCF Yield 3.36% 4.59% 3.16% 2.01% - 4.06% 2.11%
Price to Book 6.92 x 8.27 x 9.72 x 7.68 x - 4.42 x 4.46 x
Nbr of stocks (in thousands) 10,69,745 10,53,247 10,53,247 10,56,609 10,69,745 10,69,745 -
Reference price 2 11.18 15.73 19.73 14.55 13.90 12.70 12.70
Announcement Date 20/02/20 24/02/21 28/02/22 01/03/23 29/02/24 - -
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 3,611 3,774 3,573 3,533 3,650 4,264 4,624
EBITDA 1 1,060 1,223 665.1 906.3 691.6 1,055 1,319
EBIT 1 491.4 688.9 92.15 208.8 105 510 410.5
Operating Margin 13.61% 18.25% 2.58% 5.91% 2.88% 11.96% 8.88%
Earnings before Tax (EBT) 1 461.8 665.5 131 168.6 1,733 395.3 282.5
Net income 1 363.3 528.3 127.4 137.1 1,395 301.4 385.2
Net margin 10.06% 14% 3.56% 3.88% 38.22% 7.07% 8.33%
EPS 2 0.3257 0.5004 0.1209 0.1300 1.306 0.2825 0.4233
Free Cash Flow 1 416.5 807.6 730 389.5 - 697 349.5
FCF margin 11.53% 21.4% 20.43% 11.02% - 16.35% 7.56%
FCF Conversion (EBITDA) 39.29% 66.03% 109.76% 42.97% - 66.07% 26.5%
FCF Conversion (Net income) 114.62% 152.87% 573.22% 284.14% - 231.25% 90.72%
Dividend per Share 2 0.2727 - 0.3182 0.0101 - 0.1725 0.2175
Announcement Date 20/02/20 24/02/21 28/02/22 01/03/23 29/02/24 - -
1THB in Million2THB
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3
Net sales 1 - - 852.4 735.9 844.5 827.7 - 946.5 914 813.2 964.5 1,778 1,019
EBITDA - 521.5 - 25.48 220.6 198 418.5 298.1 189.7 159.6 279.7 - -
EBIT 1 - 237.7 -27.08 -118.5 62.58 21.05 83.58 113.2 12.08 14.41 141.7 156.2 69.74
Operating Margin - - -3.18% -16.1% 7.41% 2.54% - 11.96% 1.32% 1.77% 14.7% 8.78% 6.84%
Earnings before Tax (EBT) 1 - 235 - -91.83 72.74 9.811 82.56 95.43 -9.393 120.1 113.2 - 1,465
Net income 1 295.1 193.8 -0.3447 -66.11 54.96 13.07 68.03 81.7 -12.66 88.18 92.61 184.5 1,182
Net margin - - -0.04% -8.98% 6.51% 1.58% - 8.63% -1.38% 10.84% 9.6% 10.38% 116.02%
EPS 2 0.2789 0.1840 -0.000360 -0.0627 0.0522 0.0124 0.0646 0.0774 -0.0121 0.0949 0.0866 0.1728 1.105
Dividend per Share - - - - - - - - - - - - -
Announcement Date 07/08/20 17/08/21 10/11/21 28/02/22 17/05/22 15/08/22 15/08/22 14/11/22 01/03/23 15/05/23 15/08/23 15/08/23 14/11/23
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 447 1,026 2,320 4,020 - 3,573 3,012
Net Cash position 1 - - - - - - -
Leverage (Debt/EBITDA) 0.4217 x 0.839 x 3.489 x 4.435 x - 3.387 x 2.284 x
Free Cash Flow 1 416 808 730 389 - 697 350
ROE (net income / shareholders' equity) 21.4% 28.4% 6.15% 6.62% - 6.79% 11%
ROA (Net income/ Total Assets) 9.71% 13.3% 2.47% 2.06% - 5.6% 4.4%
Assets 1 3,740 3,962 5,160 6,648 - 5,382 8,756
Book Value Per Share 2 1.620 1.900 2.030 1.890 - 2.870 2.850
Cash Flow per Share 2 0.9700 0.9900 0.7600 0.4200 - 1.000 1.000
Capex 1 617 243 69.4 49 - 769 838
Capex / Sales 17.07% 6.43% 1.94% 1.39% - 18.04% 18.12%
Announcement Date 20/02/20 24/02/21 28/02/22 01/03/23 29/02/24 - -
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
B
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
4
Last Close Price
12.7 THB
Average target price
13.98 THB
Spread / Average Target
+10.04%
Consensus