Financials Siam City Cement

Equities

SCCC

TH0021010Z06

Construction Materials

End-of-day quote Thailand S.E. 03:30:00 03/05/2024 am IST 5-day change 1st Jan Change
138.5 THB -0.36% Intraday chart for Siam City Cement +2.21% +2.21%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 56,620 40,379 46,637 45,743 40,379 41,273 - -
Enterprise Value (EV) 1 81,483 61,618 65,033 64,269 56,536 56,650 55,235 53,024
P/E ratio 17.9 x 11 x 11 x 24.6 x 15.1 x 13 x 12.1 x 11.4 x
Yield 4.21% 6.64% 5.75% 5.86% 5.17% 6.55% 6.81% 6.86%
Capitalization / Revenue 1.19 x 0.96 x 1.12 x 0.91 x 0.96 x 0.91 x 0.89 x 0.87 x
EV / Revenue 1.71 x 1.47 x 1.56 x 1.28 x 1.34 x 1.25 x 1.2 x 1.12 x
EV / EBITDA 9.24 x 6.54 x 8.08 x 10.2 x 8.73 x 7.39 x 7.04 x 7.57 x
EV / FCF 13.8 x 6.89 x 10.2 x 20.3 x 12.6 x 19.5 x 14.8 x 13.1 x
FCF Yield 7.26% 14.5% 9.83% 4.93% 7.94% 5.12% 6.78% 7.66%
Price to Book 1.8 x 1.21 x 1.24 x 1.38 x 1.22 x 1.2 x 1.14 x 1.14 x
Nbr of stocks (in thousands) 2,98,000 2,98,000 2,98,000 2,98,000 2,98,000 2,98,000 - -
Reference price 2 190.0 135.5 156.5 153.5 135.5 138.5 138.5 138.5
Announcement Date 20/02/20 11/02/21 11/02/22 10/02/23 09/02/24 - - -
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 47,593 42,000 41,678 50,126 42,218 45,277 46,160 47,540
EBITDA 1 8,814 9,428 8,046 6,291 6,476 7,661 7,842 7,004
EBIT 1 5,484 5,493 4,153 2,563 3,066 4,340 4,544 4,109
Operating Margin 11.52% 13.08% 9.96% 5.11% 7.26% 9.58% 9.84% 8.64%
Earnings before Tax (EBT) 1 4,025 4,781 4,221 3,086 3,064 3,731 3,861 4,129
Net income 1 3,157 3,680 4,248 1,857 2,682 3,179 3,407 3,630
Net margin 6.63% 8.76% 10.19% 3.7% 6.35% 7.02% 7.38% 7.64%
EPS 2 10.59 12.35 14.25 6.230 9.000 10.67 11.43 12.18
Free Cash Flow 1 5,915 8,949 6,391 3,170 4,488 2,901 3,744 4,061
FCF margin 12.43% 21.31% 15.33% 6.32% 10.63% 6.41% 8.11% 8.54%
FCF Conversion (EBITDA) 67.11% 94.92% 79.43% 50.38% 69.3% 37.87% 47.74% 57.99%
FCF Conversion (Net income) 187.35% 243.14% 150.45% 170.73% 167.32% 91.25% 109.89% 111.88%
Dividend per Share 2 8.000 9.000 9.000 9.000 7.000 9.065 9.425 9.500
Announcement Date 20/02/20 11/02/21 11/02/22 10/02/23 09/02/24 - - -
1THB in Million2THB
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4
Net sales 1 21,181 20,429 12,345 12,576 12,758 25,334 12,358 12,434 11,353 10,975 22,328 - 9,628
EBITDA - - - - 2,259 - 1,615 674.2 - 1,306 2,594 - -
EBIT 1 - - - - 1,341 - 640.8 - - - - - 1,138
Operating Margin - - - - 10.51% - 5.19% - - - - - 11.82%
Earnings before Tax (EBT) 2,337 2,193 1,316 960.9 1,715 - 724.1 - - 722.1 1,513 - -
Net income 1 1,850 2,509 1,063 802.3 1,355 2,157 603.2 -903.5 - 655.8 1,414 440.8 827.4
Net margin 8.73% 12.28% 8.61% 6.38% 10.62% 8.51% 4.88% -7.27% - 5.98% 6.33% - 8.59%
EPS 2 6.210 8.420 3.560 2.690 4.550 7.240 2.020 -3.030 - 2.200 4.750 1.480 2.780
Dividend per Share - - - - - - - - - - - - -
Announcement Date 29/07/20 29/07/21 11/02/22 06/05/22 26/07/22 26/07/22 04/11/22 10/02/23 29/05/23 08/08/23 08/08/23 03/11/23 09/02/24
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 24,863 21,239 18,396 18,526 16,157 15,377 13,962 11,751
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.821 x 2.253 x 2.286 x 2.945 x 2.495 x 2.007 x 1.78 x 1.678 x
Free Cash Flow 1 5,915 8,949 6,391 3,170 4,488 2,901 3,744 4,061
ROE (net income / shareholders' equity) 9.8% 11.4% 12% 5.23% 8.1% 10.6% 10.8% 10.2%
ROA (Net income/ Total Assets) 4% 4.72% 5.32% 2.39% 3.75% 4.7% 5% 5.4%
Assets 1 78,885 77,938 79,844 77,683 71,526 67,648 68,138 67,223
Book Value Per Share 2 105.0 112.0 127.0 112.0 111.0 115.0 121.0 121.0
Cash Flow per Share 25.50 30.00 23.30 13.90 - - - -
Capex 1 1,671 745 557 974 1,316 1,341 1,250 1,250
Capex / Sales 3.51% 1.77% 1.34% 1.94% 3.12% 2.96% 2.71% 2.63%
Announcement Date 20/02/20 11/02/21 11/02/22 10/02/23 09/02/24 - - -
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
OUTPERFORM
Number of Analysts
4
Last Close Price
138.5 THB
Average target price
151.8 THB
Spread / Average Target
+9.57%
Consensus
  1. Stock Market
  2. Equities
  3. SCCC Stock
  4. Financials Siam City Cement