Financials Quality Houses

Equities

QH

TH0256A10Z04

Real Estate Development & Operations

End-of-day quote Thailand S.E. 06:00:00 2024-05-02 pm EDT 5-day change 1st Jan Change
2.16 THB -0.92% Intraday chart for Quality Houses 0.00% -3.57%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 27,429 24,857 24,215 24,643 24,000 23,143 - -
Enterprise Value (EV) 1 45,805 40,322 24,215 24,643 24,000 33,549 33,317 35,367
P/E ratio 9.48 x 11.6 x 14.1 x 10.5 x 9.74 x 9.47 x 8.94 x 9 x
Yield 9.49% 5.17% 4.42% - - 7.07% 7.32% 7.87%
Capitalization / Revenue 2.57 x 2.72 x 2.98 x 2.67 x 2.68 x 2.46 x 2.31 x 2.21 x
EV / Revenue 4.29 x 4.41 x 2.98 x 2.67 x 2.68 x 3.56 x 3.32 x 3.38 x
EV / EBITDA 29.1 x 32.9 x 30.6 x 18.7 x 22.1 x 25.1 x 23.4 x 26.4 x
EV / FCF 22.1 x 7.9 x - - - -16.4 x -16.5 x -
FCF Yield 4.52% 12.7% - - - -6.09% -6.06% -
Price to Book 1.02 x 0.94 x 0.9 x 0.89 x - 0.78 x 0.75 x 0.74 x
Nbr of stocks (in thousands) 10,714,382 10,714,382 10,714,382 10,714,382 10,714,382 10,714,382 - -
Reference price 2 2.560 2.320 2.260 2.300 2.240 2.160 2.160 2.160
Announcement Date 2/26/20 2/24/21 2/23/22 2/24/23 2/27/24 - - -
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 10,680 9,138 8,120 9,226 8,968 9,426 10,021 10,452
EBITDA 1 1,572 1,224 790.2 1,318 1,085 1,336 1,426 1,339
EBIT 1 1,341 1,030 602 1,134 934.8 906 952.3 999.6
Operating Margin 12.56% 11.27% 7.41% 12.29% 10.42% 9.61% 9.5% 9.56%
Earnings before Tax (EBT) 1 3,538 2,407 1,890 2,684 2,723 2,765 2,955 3,028
Net income 1 2,854 2,123 1,670 2,396 2,503 2,537 2,704 2,787
Net margin 26.72% 23.24% 20.56% 25.96% 27.91% 26.92% 26.98% 26.66%
EPS 2 0.2700 0.2000 0.1600 0.2200 0.2300 0.2280 0.2417 0.2400
Free Cash Flow 1 2,071 5,102 - - - -2,042 -2,020 -
FCF margin 19.39% 55.83% - - - -21.66% -20.16% -
FCF Conversion (EBITDA) 131.7% 416.84% - - - - - -
FCF Conversion (Net income) 72.57% 240.27% - - - - - -
Dividend per Share 2 0.2430 0.1200 0.1000 - - 0.1527 0.1582 0.1701
Announcement Date 2/26/20 2/24/21 2/23/22 2/24/23 2/27/24 - - -
1THB in Million2THB
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2021 S1 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1
Net sales 1 - 4,225 4,138 1,588 2,394 2,091 2,195 4,285 2,417 2,524 1,903 2,424 4,327 2,349 2,292 1,797
EBITDA 1 - 610.7 486 - 319.9 366.3 - - 408.9 369.4 223.7 388.1 655.9 345.4 214 208.4
EBIT 1 - 415.2 296.2 - 272.4 268.9 - - 317.6 324.7 636.1 302.7 486.5 267.5 180.8 135.1
Operating Margin - 9.83% 7.16% - 11.38% 12.86% - - 13.14% 12.87% 33.42% 12.49% 11.24% 11.39% 7.89% 7.52%
Earnings before Tax (EBT) 1 - - - 293.8 574.6 649 588.6 - 720.3 - 637.6 317.9 503.2 703.6 - 136.6
Net income 1 - 968.6 912.8 262.9 493.9 584.8 515.2 1,100 640.1 655.4 592.4 669.4 1,262 633.7 607.1 553.8
Net margin - 22.92% 22.06% 16.56% 20.63% 27.97% 23.47% 25.67% 26.48% 25.97% 31.12% 27.62% 29.16% 26.98% 26.48% 30.82%
EPS - 0.0900 - 0.0200 - 0.0500 - - 0.0600 - - - - 0.0600 0.0500 -
Dividend per Share 0.1730 - - - - - - 0.0400 - - - - - - - -
Announcement Date 2/26/20 8/10/20 8/9/21 11/10/21 2/23/22 5/9/22 8/9/22 8/9/22 11/8/22 2/24/23 5/9/23 8/8/23 8/8/23 11/7/23 2/27/24 -
1THB in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 18,377 15,465 - - - 10,406 10,174 12,223
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 11.69 x 12.64 x - - - 7.789 x 7.133 x 9.126 x
Free Cash Flow 1 2,071 5,102 - - - -2,042 -2,020 -
ROE (net income / shareholders' equity) 10.7% 7.95% - 8.74% - 8.65% 8.97% 9.24%
ROA (Net income/ Total Assets) 5.43% 4.31% - 5.33% - 6% 6.03% 6.05%
Assets 1 52,533 49,290 - 44,931 - 42,284 44,818 46,064
Book Value Per Share 2 2.510 2.480 2.520 2.600 - 2.770 2.890 2.930
Cash Flow per Share 2 0.2000 0.4800 - 0.2500 - -0.0400 -0.0500 -
Capex 1 78 77.8 - 115 - 160 133 -
Capex / Sales 0.73% 0.85% - 1.24% - 1.7% 1.32% -
Announcement Date 2/26/20 2/24/21 2/23/22 2/24/23 2/27/24 - - -
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
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
10
Last Close Price
2.16 THB
Average target price
2.299 THB
Spread / Average Target
+6.44%
Consensus
  1. Stock Market
  2. Equities
  3. QH Stock
  4. Financials Quality Houses