Financials Thaicom

Equities

THCOM

TH0380010Y07

Wireless Telecommunications Services

End-of-day quote Thailand S.E. 06:00:00 2024-05-30 pm EDT 5-day change 1st Jan Change
12.4 THB -.--% Intraday chart for Thaicom -2.36% -6.06%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 4,231 9,372 12,386 15,784 14,469 13,592 - -
Enterprise Value (EV) 1 4,231 10,981 13,323 12,092 12,925 14,342 17,476 13,592
P/E ratio -1.88 x 18.2 x 86.9 x 360 x 41.3 x 42 x 70.9 x 177 x
Yield 5.18% 2.34% - 3.47% - 1.09% 0.81% 0.4%
Capitalization / Revenue 0.91 x 2.63 x 3.75 x 5.1 x 5.51 x 5.16 x 4.82 x 4.76 x
EV / Revenue 0.91 x 3.09 x 4.03 x 3.91 x 4.92 x 5.45 x 6.2 x 4.76 x
EV / EBITDA 2.4 x 5.51 x 11.2 x 10.9 x 14.4 x 13.4 x 16.6 x 12.9 x
EV / FCF 2.95 x 6.49 x 11.6 x 6.23 x -27.8 x -22.1 x -5.4 x -7.32 x
FCF Yield 33.9% 15.4% 8.65% 16.1% -3.59% -4.53% -18.5% -13.7%
Price to Book 0.38 x 0.83 x 1.11 x 1.5 x 1.41 x 1.31 x 1.31 x 1.33 x
Nbr of stocks (in thousands) 1,096,102 1,096,102 1,096,102 1,096,102 1,096,102 1,096,102 - -
Reference price 2 3.860 8.550 11.30 14.40 13.20 12.40 12.40 12.40
Announcement Date 2/5/20 2/5/21 2/4/22 2/10/23 2/8/24 - - -
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 4,663 3,557 3,303 3,096 2,627 2,632 2,820 2,858
EBITDA 1 1,765 1,994 1,189 1,107 899 1,068 1,050 1,057
EBIT 1 -47.55 722 69.19 486.3 249 263.7 341 252.5
Operating Margin -1.02% 20.3% 2.09% 15.71% 9.48% 10.02% 12.09% 8.83%
Earnings before Tax (EBT) 1 -1,906 628 231.9 198.6 491.8 402.8 249.2 120.3
Net income 1 -2,250 513.8 143.6 42.21 353.6 319.8 193.2 86
Net margin -48.25% 14.45% 4.35% 1.36% 13.46% 12.15% 6.85% 3.01%
EPS 2 -2.050 0.4700 0.1300 0.0400 0.3200 0.2950 0.1750 0.0700
Free Cash Flow 1 1,435 1,691 1,152 1,941 -464.6 -650 -3,234 -1,857
FCF margin 30.76% 47.55% 34.89% 62.71% -17.69% -24.7% -114.64% -64.97%
FCF Conversion (EBITDA) 81.3% 84.81% 96.91% 175.4% - - - -
FCF Conversion (Net income) - 329.18% 802.15% 4,599.38% - - - -
Dividend per Share 2 0.2000 0.2000 - 0.5000 - 0.1350 0.1000 0.0500
Announcement Date 2/5/20 2/5/21 2/4/22 2/10/23 2/8/24 - - -
1THB in Million2THB
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2
Net sales 793.7 690.7 736.6 761.6 365 735.3 636.4 622.6 629.5 608.7 -
EBITDA 313.9 266.2 - 339 -203.6 284.7 - 252 167.6 174.8 -
EBIT - - - - - 131.6 - 83.77 -0.6648 27.28 -
Operating Margin - - - - - 17.9% - 13.45% -0.11% 4.48% -
Earnings before Tax (EBT) - 111.7 324.8 171.6 - 132.8 489.9 153.2 -284 324 -
Net income 1 -72.13 50.6 309.3 120.9 -438.5 89.57 456.6 113.6 -306.1 287.6 54
Net margin -9.09% 7.33% 41.99% 15.87% -120.14% 12.18% 71.74% 18.24% -48.63% 47.25% -
EPS -0.0668 0.0500 0.2800 0.1100 -0.4000 0.0800 0.4200 - - - -
Dividend per Share - - - - - - - - - - -
Announcement Date 2/4/22 5/6/22 8/5/22 11/8/22 2/10/23 5/9/23 8/8/23 11/3/23 2/8/24 5/8/24 -
1THB in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - 1,609 937 - - 750 3,884 -
Net Cash position 1 - - - 3,692 1,543 - - -
Leverage (Debt/EBITDA) - 0.807 x 0.7879 x - - 0.7024 x 3.699 x -
Free Cash Flow 1 1,435 1,691 1,152 1,941 -465 -650 -3,234 -1,857
ROE (net income / shareholders' equity) -18.7% 4.99% 1.28% 0.39% 3.4% 3.11% 1.81% 0.81%
ROA (Net income/ Total Assets) -11.5% 3.29% 0.9% 0.28% 2.44% 2.12% 1.12% 0.47%
Assets 1 19,599 15,596 16,008 15,095 14,506 15,118 17,332 18,169
Book Value Per Share 2 10.00 10.30 10.20 9.630 9.330 9.470 9.490 9.320
Cash Flow per Share 2 - - 1.120 1.830 0.9200 0.9000 0.6000 0.8000
Capex 1 226 78 72.2 61.3 1,472 2,853 3,778 1,815
Capex / Sales 4.84% 2.19% 2.19% 1.98% 56.03% 108.39% 133.96% 63.48%
Announcement Date 2/5/20 2/5/21 2/4/22 2/10/23 2/8/24 - - -
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
12.4 THB
Average target price
15.78 THB
Spread / Average Target
+27.22%
Consensus