SC ASSET CORPORATION |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3.22 THB | -0.62% |
|
-8.52% | -1.83% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 9,446 | 11,619 | 14,078 | 17,819 | 14,015 | 13,773 | - | - |
| Enterprise Value (EV) 1 | 30,751 | 28,392 | 32,200 | 44,192 | 14,015 | 45,978 | 46,906 | 49,118 |
| P/E ratio | 4.66 x | 6.13 x | 6.84 x | 6.97 x | 5.66 x | 6.1 x | 5.32 x | 4.79 x |
| Yield | 8.41% | 6.47% | 5.95% | 5.92% | - | 6.37% | 7.45% | 8.31% |
| Capitalization / Revenue | 0.54 x | 0.61 x | 0.72 x | 0.83 x | 0.57 x | 0.6 x | 0.57 x | 0.52 x |
| EV / Revenue | 1.74 x | 1.5 x | 1.65 x | 2.05 x | 0.57 x | 2.01 x | 1.93 x | 1.84 x |
| EV / EBITDA | 11.7 x | 10.7 x | 11.4 x | 13.1 x | 3.92 x | 14.3 x | 12.9 x | 11.9 x |
| EV / FCF | -15.3 x | 4.97 x | 415 x | -7.88 x | - | 31.8 x | 46 x | 20.9 x |
| FCF Yield | -6.54% | 20.1% | 0.24% | -12.7% | - | 3.15% | 2.17% | 4.79% |
| Price to Book | 0.54 x | 0.62 x | 0.7 x | 0.82 x | - | 0.56 x | 0.53 x | 0.5 x |
| Nbr of stocks (in thousands) | 41,79,625 | 41,79,625 | 41,89,904 | 42,22,616 | 42,72,851 | 42,77,213 | - | - |
| Reference price 2 | 2.260 | 2.780 | 3.360 | 4.220 | 3.280 | 3.220 | 3.220 | 3.220 |
| Announcement Date | 19/02/20 | 17/02/21 | 17/02/22 | 16/02/23 | 27/02/24 | - | - | - |
1THB in Million2THB
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 17,637 | 18,977 | 19,475 | 21,583 | 24,487 | 22,824 | 24,252 | 26,624 |
| EBITDA 1 | 2,627 | 2,647 | 2,823 | 3,373 | 3,577 | 3,226 | 3,627 | 4,121 |
| EBIT 1 | 2,539 | 2,536 | 2,656 | 3,259 | 3,430 | 2,957 | 3,448 | 3,945 |
| Operating Margin | 14.39% | 13.36% | 13.64% | 15.1% | 14.01% | 12.96% | 14.22% | 14.82% |
| Earnings before Tax (EBT) 1 | 2,528 | 2,391 | 2,603 | 3,241 | 3,181 | 2,703 | 3,162 | 3,516 |
| Net income 1 | 2,026 | 1,898 | 2,062 | 2,556 | 2,482 | 2,218 | 2,573 | 2,863 |
| Net margin | 11.49% | 10% | 10.59% | 11.84% | 10.14% | 9.72% | 10.61% | 10.75% |
| EPS 2 | 0.4848 | 0.4538 | 0.4913 | 0.6054 | 0.5799 | 0.5275 | 0.6057 | 0.6725 |
| Free Cash Flow 1 | -2,012 | 5,708 | 77.52 | -5,607 | - | 1,448 | 1,020 | 2,353 |
| FCF margin | -11.41% | 30.08% | 0.4% | -25.98% | - | 6.34% | 4.2% | 8.84% |
| FCF Conversion (EBITDA) | - | 215.6% | 2.75% | - | - | 44.88% | 28.12% | 57.09% |
| FCF Conversion (Net income) | - | 300.74% | 3.76% | - | - | 65.28% | 39.63% | 82.19% |
| Dividend per Share 2 | 0.1900 | 0.1800 | 0.2000 | 0.2500 | - | 0.2050 | 0.2400 | 0.2675 |
| Announcement Date | 19/02/20 | 17/02/21 | 17/02/22 | 16/02/23 | 27/02/24 | - | - | - |
1THB in Million2THB
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2020 S2 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | - | - | 3,827 | 5,204 | - | - | 4,922 | 5,213 | 5,533 | 8,818 | 4,010 |
| EBITDA 1 | - | - | - | - | - | - | - | 773.7 | - | 756.3 | 1,309 | 356.2 |
| EBIT 1 | - | - | - | 520.7 | 752.7 | - | - | 736.6 | 694.3 | 711.2 | 1,288 | 315.2 |
| Operating Margin | - | - | - | 13.6% | 14.46% | - | - | 14.96% | 13.32% | 12.85% | 14.61% | 7.86% |
| Earnings before Tax (EBT) 1 | - | - | - | 494.4 | 732.8 | - | - | 677.5 | - | 650.6 | 1,118 | 258.8 |
| Net income 1 | 756.8 | - | 580.7 | 387.7 | 581.1 | 652.2 | 935 | 534.6 | 593 | 503.4 | 851.3 | 182.6 |
| Net margin | - | - | - | 10.13% | 11.17% | - | - | 10.86% | 11.38% | 9.1% | 9.65% | 4.55% |
| EPS | 0.1811 | - | - | 0.0917 | 0.1372 | - | - | 0.1252 | - | 0.1173 | 0.1989 | - |
| Dividend per Share | - | 0.1800 | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 10/08/20 | 17/02/21 | 17/02/22 | 11/05/22 | 10/08/22 | 09/11/22 | 16/02/23 | 10/05/23 | 09/08/23 | 10/11/23 | 27/02/24 | 14/05/24 |
1THB in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 21,305 | 16,773 | 18,122 | 26,372 | - | 32,205 | 33,133 | 35,345 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 8.109 x | 6.336 x | 6.419 x | 7.817 x | - | 9.982 x | 9.136 x | 8.576 x |
| Free Cash Flow 1 | -2,012 | 5,708 | 77.5 | -5,607 | - | 1,448 | 1,020 | 2,353 |
| ROE (net income / shareholders' equity) | 11.5% | 10.5% | 10.6% | 12.2% | - | 9.29% | 10.1% | 10.5% |
| ROA (Net income/ Total Assets) | 4.42% | 4.24% | 4.38% | 4.77% | - | 3.35% | 4.01% | 4.23% |
| Assets 1 | 45,878 | 44,797 | 47,037 | 53,577 | - | 66,209 | 64,225 | 67,677 |
| Book Value Per Share 2 | 4.200 | 4.470 | 4.790 | 5.150 | - | 5.740 | 6.070 | 6.490 |
| Cash Flow per Share 2 | - | - | - | - | - | 0.5600 | 0.6000 | 0.6400 |
| Capex 1 | 251 | 128 | 138 | 176 | - | 311 | 523 | 487 |
| Capex / Sales | 1.42% | 0.67% | 0.71% | 0.81% | - | 1.36% | 2.15% | 1.83% |
| Announcement Date | 19/02/20 | 17/02/21 | 17/02/22 | 16/02/23 | 27/02/24 | - | - | - |
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+
Sell
Buy
Mean consensus
BUY
Number of Analysts
7
Last Close Price
3.22
THB
Average target price
3.921
THB
Spread / Average Target
+21.78%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -1.83% | 383M | |
| +4.17% | 26.41B | |
| -13.96% | 12.56B | |
| +8.89% | 10.87B | |
| -22.81% | 8.07B | |
| +9.98% | 6.99B | |
| -5.44% | 6.89B | |
| +5.04% | 6.84B | |
| -3.24% | 3.71B | |
| +10.47% | 3.51B |
- Stock Market
- Equities
- SC Stock
- Financials SC Asset Corporation
