Financials Asset World Corp

Equities

AWC

TH9436010002

Hotels, Motels & Cruise Lines

End-of-day quote Thailand S.E. 06:00:00 2024-05-09 pm EDT 5-day change 1st Jan Change
4.26 THB +1.91% Intraday chart for Asset World Corp -1.84% +19.66%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 187,200 145,920 148,480 201,605 113,928 136,341 - -
Enterprise Value (EV) 1 200,838 190,848 195,897 263,182 113,928 211,573 219,372 227,424
P/E ratio 178 x -77.3 x 172 x 52.3 x 22.6 x 36.4 x 31.7 x 22.4 x
Yield 0.21% - 0.23% 0.51% - 0.76% 0.93% 1.2%
Capitalization / Revenue 16.2 x 23.8 x 34.5 x 21.2 x 8.14 x 7.76 x 6.59 x 5.27 x
EV / Revenue 17.4 x 31.1 x 45.5 x 27.6 x 8.14 x 12 x 10.6 x 8.8 x
EV / EBITDA 40.9 x 164 x 49.7 x 94.4 x 23.7 x 29.9 x 25.5 x 20 x
EV / FCF 67.4 x -129 x -65.2 x -46.3 x - -32.1 x -39.4 x -18.3 x
FCF Yield 1.48% -0.77% -1.53% -2.16% - -3.11% -2.54% -5.48%
Price to Book 2.47 x 2.05 x 1.87 x 2.43 x - 1.52 x 1.47 x 1.41 x
Nbr of stocks (in thousands) 32,000,000 32,000,000 32,000,000 32,000,771 32,002,343 32,004,961 - -
Reference price 2 5.850 4.560 4.640 6.300 3.560 4.260 4.260 4.260
Announcement Date 2/27/20 2/15/21 2/18/22 2/27/23 2/28/24 - - -
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 11,522 6,136 4,307 9,532 13,989 17,577 20,702 25,849
EBITDA 1 4,912 1,165 3,940 2,788 4,817 7,084 8,603 11,382
EBIT 1 3,061 -1,158 2,334 1,150 3,099 5,025 6,234 8,390
Operating Margin 26.57% -18.87% 54.2% 12.07% 22.15% 28.59% 30.11% 32.46%
Earnings before Tax (EBT) 1 1,323 -2,301 1,154 4,847 6,353 3,592 4,037 7,449
Net income 1 1,054 -1,881 861.5 3,854 5,038 3,876 4,142 6,048
Net margin 9.15% -30.66% 20% 40.43% 36.01% 22.05% 20.01% 23.4%
EPS 2 0.0329 -0.0590 0.0270 0.1204 0.1574 0.1170 0.1345 0.1898
Free Cash Flow 1 2,981 -1,474 -3,003 -5,688 - -6,586 -5,572 -12,452
FCF margin 25.88% -24.02% -69.73% -59.67% - -37.47% -26.91% -48.17%
FCF Conversion (EBITDA) 60.7% - - - - - - -
FCF Conversion (Net income) 282.81% - - - - - - -
Dividend per Share 2 0.0125 - 0.0108 0.0320 - 0.0326 0.0397 0.0510
Announcement Date 2/27/20 2/15/21 2/18/22 2/27/23 2/28/24 - - -
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 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 790.6 1,465 1,602 1,985 2,479 3,466 3,553 3,217 3,397 3,822 4,226 - - - -
EBITDA 1 1,547 1,873 1,454 1,694 730.3 1,276 1,353 925.4 - 1,520 1,724 - - - -
EBIT 1,143 - -112.8 70.94 316.8 866.5 942.8 492.4 583.1 1,072 - - - - -
Operating Margin 144.59% - -7.04% 3.57% 12.78% 25% 26.54% 15.31% 17.17% 28.05% - - - - -
Earnings before Tax (EBT) 1 872 1,195 804 965.8 1,281 1,796 1,786 1,389 1,408 1,677 759 - - - -
Net income 1 687 967 645.1 776.5 1,026 1,406 1,422 1,122 1,136 1,358 1,017 931.8 661.3 718.8 -
Net margin 86.89% 66% 40.26% 39.11% 41.4% 40.57% 40.03% 34.87% 33.44% 35.53% 24.05% - - - -
EPS 2 0.0215 0.0303 0.0202 0.0243 0.0321 0.0434 0.0444 0.0795 0.0355 0.0424 0.0235 0.0198 0.0207 0.0225 -
Dividend per Share 2 - 0.0108 - - - 0.0320 - - - - - - - 0.0359 -
Announcement Date 11/11/21 2/18/22 5/11/22 8/10/22 11/9/22 2/27/23 5/15/23 8/10/23 11/8/23 2/28/24 - - - - -
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 13,638 44,928 47,417 61,577 - 75,232 83,031 91,083
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.776 x 38.56 x 12.04 x 22.09 x - 10.62 x 9.651 x 8.002 x
Free Cash Flow 1 2,981 -1,474 -3,003 -5,688 - -6,586 -5,572 -12,452
ROE (net income / shareholders' equity) 2.09% -2.32% 1.1% 4.76% - 3.01% 3.88% 5.86%
ROA (Net income/ Total Assets) 1.04% -1.44% 0.63% 2.61% - 2.55% 4.83% 2.8%
Assets 1 101,115 130,460 136,159 147,674 - 152,004 85,700 215,982
Book Value Per Share 2 2.360 2.220 2.480 2.590 - 2.810 2.890 3.020
Cash Flow per Share 2 0.1700 0.0200 0 0.0900 - 0.1800 0.2100 0.2500
Capex 1 2,380 2,151 3,017 8,676 - 14,305 13,471 11,805
Capex / Sales 20.66% 35.06% 70.06% 91.03% - 81.38% 65.07% 45.67%
Announcement Date 2/27/20 2/15/21 2/18/22 2/27/23 2/28/24 - - -
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
10
Last Close Price
4.26 THB
Average target price
4.942 THB
Spread / Average Target
+16.01%
Consensus
  1. Stock Market
  2. Equities
  3. AWC Stock
  4. Financials Asset World Corp
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