Financials Thai Life Insurance

Equities

TLI

THA848010007

Life & Health Insurance

End-of-day quote Thailand S.E. Other stock markets 03:30:00 03/05/2024 am IST			5-day change	1st Jan Change
9.3 ^THB	+0.54%		+2.20%	+1.64%

28/02	Thai Life Insurance Public Company Limited Reports Earnings Results for the Full Year Ended December 31, 2023	CI
28/02	Thai Life Insurance Public Company Limited Proposes Special Dividend	CI

Valuation

Fiscal Period: December	2022	2023	2024	2025	2026
Capitalization ¹	1,70,605	1,04,768	1,06,485	-	-
Enterprise Value (EV) ¹	1,70,605	1,04,768	1,06,485	1,06,485	1,06,485
P/E ratio	17.7 x	10.8 x	10.7 x	9.26 x	9.09 x
Yield	2.01%	3.28%	3.56%	3.78%	3.99%
Capitalization / Revenue	1.59 x	0.96 x	0.95 x	0.91 x	0.87 x
EV / Revenue	1.59 x	0.96 x	0.95 x	0.91 x	0.87 x
EV / EBITDA	-	-	-	-	-
EV / FCF	-	-	-	-	-
FCF Yield	-	-	-	-	-
Price to Book	1.74 x	1 x	0.94 x	0.87 x	0.81 x
Nbr of stocks (in thousands)	1,14,50,000	1,14,50,000	1,14,50,000	-	-
Reference price ²	14.90	9.150	9.300	9.300	9.300
Announcement Date	23/02/23	28/02/24	-	-	-

¹THB in Million²THB

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net sales ¹	-	1,07,153	1,08,759	1,11,993	1,16,906	1,22,412
EBITDA	-	-	-	-	-	-
EBIT ¹	-	11,061	12,573	12,458	14,198	15,034
Operating Margin	-	10.32%	11.56%	11.12%	12.14%	12.28%
Earnings before Tax (EBT) ¹	-	11,422	12,007	12,290	12,579	14,079
Net income ¹	8,394	9,265	9,707	9,947	11,507	11,716
Net margin	-	8.65%	8.92%	8.88%	9.84%	9.57%
EPS ²	0.7900	0.8400	0.8500	0.8689	1.004	1.023
Free Cash Flow	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-
Dividend per Share ²	-	0.3000	0.3000	0.3315	0.3513	0.3712
Announcement Date	03/03/22	23/02/23	28/02/24	-	-	-

¹THB in Million²THB

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 Q3	2022 Q4
Net sales	-	-
EBITDA	-	-
EBIT	-	-
Operating Margin	-	-
Earnings before Tax (EBT) ¹	-	1,529
Net income ¹	2,208	1,245
Net margin	-	-
EPS ²	0.2000	0.1000
Dividend per Share	-	-
Announcement Date	14/11/22	23/02/23

¹THB in Million²THB

Estimates

Balance Sheet Analysis

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	10%	9.58%	9.32%	9.9%	9.28%
ROA (Net income/ Total Assets)	-	1.7%	1.72%	1.7%	1.78%	1.78%
Assets ¹	-	5,44,875	5,64,406	5,83,531	6,47,384	6,57,821
Book Value Per Share ²	-	8.560	9.130	9.880	10.60	11.50
Cash Flow per Share	-	-	-	-	-	-
Capex	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-
Announcement Date	03/03/22	23/02/23	28/02/24	-	-	-

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

Ratings for Thai Life Insurance

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

9.3 THB

Average target price

16.48 THB

Spread / Average Target

+77.24%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Other Life & Health Insurance

	1st Jan change	Capi.
THAI LIFE INSURANCE	+1.64%	2.89B
AXA	+9.22%	74.49B
METLIFE, INC.	+7.65%	50.15B
AFLAC INCORPORATED	+2.70%	47.28B
MANULIFE FINANCIAL CORPORATION	+14.14%	43.12B
PRUDENTIAL FINANCIAL, INC.	+11.14%	40.31B
GENERALI	+22.17%	38.48B
SUN LIFE FINANCIAL INC.	+5.72%	30.54B
GREAT-WEST LIFECO INC.	-1.21%	28.79B
CATHAY FINANCIAL HOLDING CO., LTD.	+11.26%	22.81B

Other Life & Health Insurance