TRIPLE I LOGISTICS |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 8.5 THB | +0.59% |
|
0.00% | -14.57% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 3,168 | 3,930 | 9,249 | 9,141 | 7,813 | 6,575 | - | - |
| Enterprise Value (EV) 1 | 3,168 | 3,930 | 9,697 | 9,254 | 7,813 | 6,512 | 6,166 | 6,575 |
| P/E ratio | 19.2 x | 23.6 x | 26.4 x | 11.8 x | 9.43 x | 12.3 x | 11.1 x | 10.2 x |
| Yield | 2.88% | 1.55% | 2.68% | - | - | 4% | 4.29% | 5.41% |
| Capitalization / Revenue | 1.17 x | 2.45 x | 3.15 x | 3.28 x | 4.43 x | 3.51 x | 3.29 x | 3.07 x |
| EV / Revenue | 1.17 x | 2.45 x | 3.3 x | 3.32 x | 4.43 x | 3.48 x | 3.09 x | 3.07 x |
| EV / EBITDA | 24 x | 24.8 x | 28.2 x | 25.9 x | 55.6 x | 37.8 x | 31.5 x | 33 x |
| EV / FCF | -4.9 x | -17.3 x | 104 x | 27.8 x | - | 9.53 x | 9.21 x | - |
| FCF Yield | -20.4% | -5.8% | 0.96% | 3.59% | - | 10.5% | 10.9% | - |
| Price to Book | 2.48 x | 2.97 x | 5.3 x | 3.42 x | - | 1.7 x | 1.57 x | 1.52 x |
| Nbr of stocks (in thousands) | 6,09,308 | 6,09,308 | 6,20,710 | 6,92,532 | 7,85,181 | 7,82,753 | - | - |
| Reference price 2 | 5.200 | 6.450 | 14.90 | 13.20 | 9.950 | 8.500 | 8.500 | 8.500 |
| Announcement Date | 24/02/20 | 23/02/21 | 23/02/22 | 21/02/23 | 21/02/24 | - | - | - |
1THB in Million2THB
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,713 | 1,607 | 2,939 | 2,789 | 1,764 | 1,872 | 1,996 | 2,140 |
| EBITDA 1 | 132 | 158.3 | 344.1 | 357.7 | 140.6 | 172.5 | 195.8 | 199.2 |
| EBIT 1 | 83.27 | 69.65 | 243.8 | 268.2 | 63.39 | 92 | 109 | - |
| Operating Margin | 3.07% | 4.33% | 8.29% | 9.62% | 3.59% | 4.92% | 5.46% | - |
| Earnings before Tax (EBT) 1 | 178.2 | 161.1 | 439.2 | 858.4 | 872.8 | 576.5 | 633.5 | - |
| Net income 1 | 164.5 | 162.5 | 377.3 | 795.7 | 866.2 | 557.6 | 618.5 | 674 |
| Net margin | 6.06% | 10.11% | 12.84% | 28.53% | 49.09% | 29.79% | 30.99% | 31.5% |
| EPS 2 | 0.2704 | 0.2732 | 0.5634 | 1.121 | 1.055 | 0.6933 | 0.7667 | 0.8300 |
| Free Cash Flow 1 | -647.2 | -227.8 | 92.91 | 332.5 | - | 683.5 | 669.5 | - |
| FCF margin | -23.86% | -14.17% | 3.16% | 11.92% | - | 36.52% | 33.55% | - |
| FCF Conversion (EBITDA) | - | - | 27.01% | 92.96% | - | 396.28% | 341.94% | - |
| FCF Conversion (Net income) | - | - | 24.62% | 41.79% | - | 122.59% | 108.25% | - |
| Dividend per Share 2 | 0.1500 | 0.1000 | 0.4000 | - | - | 0.3400 | 0.3650 | 0.4600 |
| Announcement Date | 24/02/20 | 23/02/21 | 23/02/22 | 21/02/23 | 21/02/24 | - | - | - |
1THB in Million2THB
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 605.6 | 1,059 | 744.8 | 721.8 | - | 578.3 | 437 | 441.3 | - | 487.9 | 493 |
| EBITDA 1 | - | - | - | - | - | - | 30.11 | 42.94 | - | 14.8 | 39 |
| EBIT 1 | 85.84 | 53.4 | 40.9 | 79.58 | - | - | 10.5 | 23.21 | - | -5.726 | 19.5 |
| Operating Margin | 14.18% | 5.04% | 5.49% | 11.03% | - | - | 2.4% | 5.26% | - | -1.17% | 3.96% |
| Earnings before Tax (EBT) 1 | 139 | 123.7 | 122 | 135.4 | - | 446.2 | 151.3 | 168.7 | - | 397 | 21 |
| Net income 1 | 100.2 | 113.9 | 112.7 | 119.1 | 146.3 | 427.2 | 149.3 | 163.4 | 160.3 | 404.2 | 100 |
| Net margin | 16.55% | 10.76% | 15.14% | 16.51% | - | 73.87% | 34.16% | 37.03% | - | 82.84% | 20.28% |
| EPS 2 | 0.1461 | 0.1657 | 0.1600 | 0.1688 | - | 0.6004 | 0.2200 | 0.2009 | - | 0.4883 | 0.1300 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 10/11/21 | 23/02/22 | 12/05/22 | 10/08/22 | 09/11/22 | 21/02/23 | 12/05/23 | 09/08/23 | 09/11/23 | 21/02/24 | - |
1THB in Million2THB
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | 449 | 113 | - | - | - | - |
| Net Cash position 1 | - | - | - | - | - | 63.5 | 410 | - |
| Leverage (Debt/EBITDA) | - | - | 1.304 x | 0.3156 x | - | - | - | - |
| Free Cash Flow 1 | -647 | -228 | 92.9 | 333 | - | 684 | 670 | - |
| ROE (net income / shareholders' equity) | 13.3% | 12.7% | 24.9% | 23.9% | - | 14.4% | 14.9% | 15.6% |
| ROA (Net income/ Total Assets) | 7.98% | 7.02% | 14.1% | 15.9% | - | 8.42% | 8.99% | 7.86% |
| Assets 1 | 2,062 | 2,315 | 2,678 | 5,004 | - | 6,619 | 6,879 | 8,576 |
| Book Value Per Share 2 | 2.100 | 2.170 | 2.810 | 3.860 | - | 5.000 | 5.420 | 5.610 |
| Cash Flow per Share 2 | - | - | 0.7100 | 0.5100 | - | 0.8100 | 0.8800 | 0.9400 |
| Capex | 81.9 | 29 | 18.3 | 26.6 | - | - | - | - |
| Capex / Sales | 3.02% | 1.8% | 0.62% | 0.95% | - | - | - | - |
| Announcement Date | 24/02/20 | 23/02/21 | 23/02/22 | 21/02/23 | 21/02/24 | - | - | - |
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
Sell
Buy
Mean consensus
BUY
Number of Analysts
4
Last Close Price
8.5
THB
Average target price
11.02
THB
Spread / Average Target
+29.71%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -14.57% | 180M | |
| +38.90% | 4.51B | |
| +2.47% | 1.47B | |
| 0.00% | 790M | |
| +16.06% | 417M | |
| +16.41% | 77.53M |
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