Financials Thaicom

Equities

THCOM

TH0380010Y07

Wireless Telecommunications Services

End-of-day quote Thailand S.E. 06:00:00 2024-05-09 pm EDT 5-day change 1st Jan Change
12.7 THB 0.00% Intraday chart for Thaicom -3.05% -3.79%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 4,231 9,372 12,386 15,784 14,469 13,920 - -
Enterprise Value (EV) 1 4,231 10,981 13,323 12,092 12,925 14,670 17,804 13,920
P/E ratio -1.88 x 18.2 x 86.9 x 360 x 41.3 x 55.2 x 95.3 x -90.7 x
Yield 5.18% 2.34% - 3.47% - 1.06% 1.57% -
Capitalization / Revenue 0.91 x 2.63 x 3.75 x 5.1 x 5.51 x 5.29 x 4.94 x 4.87 x
EV / Revenue 0.91 x 3.09 x 4.03 x 3.91 x 4.92 x 5.57 x 6.31 x 4.87 x
EV / EBITDA 2.4 x 5.51 x 11.2 x 10.9 x 14.4 x 13.7 x 17 x 13.2 x
EV / FCF 2.95 x 6.49 x 11.6 x 6.23 x -27.8 x -6.1 x -6.41 x -
FCF Yield 33.9% 15.4% 8.65% 16.1% -3.59% -16.4% -15.6% -
Price to Book 0.38 x 0.83 x 1.11 x 1.5 x 1.41 x 1.34 x 1.34 x 1.36 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 12.70 12.70 12.70
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 69.19 486.3 249 335 445.5 -
Operating Margin -1.02% 20.3% 2.09% 15.71% 9.48% 12.73% 15.8% -
Earnings before Tax (EBT) 1 -1,906 628 231.9 198.6 491.8 402.8 249.2 -157
Net income 1 -2,250 513.8 143.6 42.21 353.6 247 193.2 -157
Net margin -48.25% 14.45% 4.35% 1.36% 13.46% 9.39% 6.85% -5.49%
EPS 2 -2.050 0.4700 0.1300 0.0400 0.3200 0.2300 0.1333 -0.1400
Free Cash Flow 1 1,435 1,691 1,152 1,941 -464.6 -2,404 -2,780 -
FCF margin 30.76% 47.55% 34.89% 62.71% -17.69% -91.35% -98.55% -
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 0.2000 -
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
Net sales 1 793.7 690.7 736.6 761.6 365 735.3 636.4 622.6 629.5
EBITDA 1 313.9 266.2 - 339 -203.6 284.7 - 252 167.6
EBIT 1 - - - - - 131.6 - 83.77 -0.6648
Operating Margin - - - - - 17.9% - 13.45% -0.11%
Earnings before Tax (EBT) 1 - 111.7 324.8 171.6 - 132.8 489.9 153.2 -284
Net income 1 -72.13 50.6 309.3 120.9 -438.5 89.57 456.6 113.6 -306.1
Net margin -9.09% 7.33% 41.99% 15.87% -120.14% 12.18% 71.74% 18.24% -48.63%
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
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 -2,404 -2,780 -
ROE (net income / shareholders' equity) -18.7% 4.99% 1.28% 0.39% 3.4% 3.11% 1.81% -0.09%
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 11,678 17,332 -33,169
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 3,233 3,778 3,009
Capex / Sales 4.84% 2.19% 2.19% 1.98% 56.03% 122.83% 133.96% 105.27%
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
BUY
Number of Analysts
3
Last Close Price
12.7 THB
Average target price
15.78 THB
Spread / Average Target
+24.21%
Consensus
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