Financials Infraset

Equities

INSET

TH9426010004

IT Services & Consulting

End-of-day quote Thailand S.E. 06:00:00 2024-06-09 pm EDT 5-day change 1st Jan Change
2.3 THB -1.71% Intraday chart for Infraset -6.50% -0.86%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 1,456 1,938 3,727 2,401 1,886 1,902 -
Enterprise Value (EV) 1 1,456 1,938 3,727 2,401 1,886 1,902 1,902
P/E ratio - 14.4 x 28.8 x 21.3 x 16.6 x 14.4 x 13.5 x
Yield 5.77% 3.44% 2.81% - - 4.57% 4.78%
Capitalization / Revenue 1.19 x 1.29 x 2.83 x 1.83 x 1.14 x 1.03 x 0.96 x
EV / Revenue 1.19 x 1.29 x 2.83 x 1.83 x 1.14 x 1.03 x 0.96 x
EV / EBITDA 9.59 x 10.7 x 16.5 x 16.8 x 12 x 10.3 x 9.93 x
EV / FCF 52.4 x -10.4 x - - - -11.7 x 16 x
FCF Yield 1.91% -9.62% - - - -8.57% 6.26%
Price to Book 1.87 x 2.31 x 3.86 x - - 1.29 x 1.23 x
Nbr of stocks (in thousands) 616,000 616,000 616,000 750,166 812,773 812,773 -
Reference price 2 2.364 3.145 6.050 3.200 2.320 2.300 2.300
Announcement Date 2/24/20 2/18/21 2/18/22 2/13/23 2/13/24 - -
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 1,220 1,501 1,315 1,311 1,658 1,851 1,974
EBITDA 1 151.9 180.8 225.6 142.5 157.6 185 191.5
EBIT 1 148.7 170.4 214 132.7 147.1 174 191
Operating Margin 12.19% 11.35% 16.27% 10.12% 8.87% 9.4% 9.68%
Earnings before Tax (EBT) 1 - 169.4 213.2 132.1 139 163 182
Net income 1 - 135.5 170.5 105.5 109.2 132 143.5
Net margin - 9.03% 12.97% 8.05% 6.58% 7.13% 7.27%
EPS 2 - 0.2182 0.2100 0.1500 0.1400 0.1600 0.1700
Free Cash Flow 1 27.8 -186.5 - - - -163 119
FCF margin 2.28% -12.42% - - - -8.81% 6.03%
FCF Conversion (EBITDA) 18.3% - - - - - 62.14%
FCF Conversion (Net income) - - - - - - 82.93%
Dividend per Share 2 0.1364 0.1082 0.1700 - - 0.1050 0.1100
Announcement Date 2/24/20 2/18/21 2/18/22 2/13/23 2/13/24 - -
1THB in Million2THB
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 S1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4
Net sales 1 - - 402.3 222.7 452.8 - - 199.5
EBITDA - - - - - - - -
EBIT - - 43.31 7.896 31.17 - 49.17 -
Operating Margin - - 10.77% 3.55% 6.88% - - -
Earnings before Tax (EBT) - - 43.19 7.782 31.06 - 45.1 -
Net income 60.07 41.21 34.42 6.203 24.31 41.66 36 -
Net margin - - 8.56% 2.79% 5.37% - - -
EPS 0.1000 0.0500 0.0400 0.0100 - 0.0500 - -
Dividend per Share - - - - - - - -
Announcement Date 8/5/21 8/5/22 11/3/22 2/13/23 5/9/23 8/10/23 11/7/23 2/13/24
1THB in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt - - - - - - -
Net Cash position - - - - - - -
Leverage (Debt/EBITDA) - - - - - - -
Free Cash Flow 1 27.8 -186 - - - -163 119
ROE (net income / shareholders' equity) 21.1% 16.7% 18.9% - - 9.1% 9.4%
ROA (Net income/ Total Assets) 14.5% 11.4% 13.4% - - 6.7% 7.1%
Assets 1 - 1,188 1,274 - - 1,970 2,021
Book Value Per Share 2 1.270 1.360 1.570 - - 1.790 1.880
Cash Flow per Share - - - - - - -
Capex 33.4 8.94 - - - - -
Capex / Sales 2.74% 0.6% - - - - -
Announcement Date 2/24/20 2/18/21 2/18/22 2/13/23 2/13/24 - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
2
Last Close Price
2.3 THB
Average target price
3.07 THB
Spread / Average Target
+33.48%
Consensus