THE ERAWAN GROUP |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 4.76 THB | +0.42% |
|
-0.42% | -9.33% |
| Apr. 23 | The Erawan Group Public Company Limited Announces Director Appointments | CI |
| Apr. 23 | The Erawan Group Public Company Limited Approves Dividend for 2023, Payable on 21 May 2024 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 14,979 | 9,125 | 13,595 | 20,301 | 23,791 | 21,570 | - | - |
| Enterprise Value (EV) 1 | 24,172 | 23,967 | 23,504 | 29,287 | 23,791 | 31,134 | 30,631 | 30,347 |
| P/E ratio | 33.7 x | -5.28 x | -5.33 x | -90.5 x | 33 x | 26.5 x | 24.3 x | 22.1 x |
| Yield | 1.18% | - | - | - | - | 1.56% | 1.7% | 1.92% |
| Capitalization / Revenue | 2.34 x | 3.96 x | 9.15 x | 4.39 x | 3.41 x | 2.69 x | 2.48 x | 2.35 x |
| EV / Revenue | 3.78 x | 10.4 x | 15.8 x | 6.33 x | 3.41 x | 3.88 x | 3.53 x | 3.31 x |
| EV / EBITDA | 13.2 x | -147 x | -35.5 x | 30.2 x | 11.5 x | 12.3 x | 11 x | 10 x |
| EV / FCF | 365 x | -20.8 x | -19.1 x | 59.2 x | - | -89.6 x | 60.8 x | 34.8 x |
| FCF Yield | 0.27% | -4.8% | -5.23% | 1.69% | - | -1.12% | 1.64% | 2.87% |
| Price to Book | 2.6 x | 2.38 x | 2.26 x | 3.56 x | - | 2.94 x | 2.81 x | 2.61 x |
| Nbr of stocks (in thousands) | 2,517,533 | 2,534,588 | 4,531,560 | 4,531,560 | 4,531,560 | 4,531,560 | - | - |
| Reference price 2 | 5.950 | 3.600 | 3.000 | 4.480 | 5.250 | 4.760 | 4.760 | 4.760 |
| Announcement Date | 2/24/20 | 2/23/21 | 2/23/22 | 2/21/23 | 2/23/24 | - | - | - |
1THB in Million2THB
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 6,397 | 2,306 | 1,485 | 4,629 | 6,986 | 8,018 | 8,682 | 9,166 |
| EBITDA 1 | 1,828 | -163.5 | -662.3 | 969 | 2,061 | 2,534 | 2,790 | 3,027 |
| EBIT 1 | 998.7 | -1,176 | -1,598 | 97.11 | 1,213 | 1,503 | 1,673 | 1,865 |
| Operating Margin | 15.61% | -50.98% | -107.57% | 2.1% | 17.36% | 18.74% | 19.28% | 20.34% |
| Earnings before Tax (EBT) 1 | 657.4 | -1,818 | -2,110 | -238.6 | 743.4 | 928.4 | 1,115 | 1,355 |
| Net income 1 | 445.6 | -1,715 | -2,050 | -224.2 | 742.7 | 866.3 | 937.7 | 1,043 |
| Net margin | 6.97% | -74.38% | -138.02% | -4.84% | 10.63% | 10.8% | 10.8% | 11.38% |
| EPS 2 | 0.1766 | -0.6813 | -0.5628 | -0.0495 | 0.1589 | 0.1796 | 0.1955 | 0.2154 |
| Free Cash Flow 1 | 66.14 | -1,150 | -1,229 | 494.6 | - | -347.5 | 503.7 | 871.9 |
| FCF margin | 1.03% | -49.87% | -82.71% | 10.69% | - | -4.33% | 5.8% | 9.51% |
| FCF Conversion (EBITDA) | 3.62% | - | - | 51.05% | - | - | 18.06% | 28.81% |
| FCF Conversion (Net income) | 14.84% | - | - | - | - | - | 53.72% | 83.56% |
| Dividend per Share 2 | 0.0700 | - | - | - | - | 0.0743 | 0.0809 | 0.0916 |
| Announcement Date | 2/24/20 | 2/23/21 | 2/23/22 | 2/21/23 | 2/23/24 | - | - | - |
1THB in Million2THB
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2021 S1 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | - | 226.4 | 619 | 659.1 | 974.4 | - | 1,283 | 1,733 | 1,753 | 1,623 | 1,737 | 1,874 | 1,978 | - |
| EBITDA | - | - | -243.5 | 73.82 | - | 143.7 | - | - | 532.4 | - | 455.4 | 525.8 | 579 | - | - |
| EBIT 1 | - | - | -472.2 | -145.8 | -227.1 | -71.39 | -306.3 | 94.27 | 309.1 | 326.5 | 233.6 | 293 | 360.6 | 400.5 | - |
| Operating Margin | - | - | -208.53% | -23.56% | -34.45% | -7.33% | - | 7.35% | 17.84% | 18.62% | 14.39% | 16.87% | 19.24% | 20.25% | - |
| Earnings before Tax (EBT) 1 | - | - | -595 | -262 | -333.3 | -149.5 | - | -10.26 | 254.5 | 231.2 | 138.5 | 152.5 | 221.1 | 254.2 | - |
| Net income 1 | -727.6 | -1,182 | -622.8 | -245.7 | -313.1 | -139.1 | - | -11.52 | 239.5 | 238.6 | 142 | 148.3 | 213.8 | 254 | 138 |
| Net margin | - | - | -275.03% | -39.69% | -47.5% | -14.28% | - | -0.9% | 13.83% | 13.61% | 8.74% | 8.54% | 11.41% | 12.84% | - |
| EPS 2 | -0.2890 | - | -0.1374 | -0.0231 | -0.0700 | -0.0307 | - | -0.002500 | 0.0528 | 0.0526 | 0.0305 | 0.0317 | 0.0460 | 0.0665 | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 8/13/20 | 8/13/21 | 11/12/21 | 2/23/22 | 5/13/22 | 8/11/22 | 8/11/22 | 11/14/22 | 2/21/23 | 5/29/23 | 8/15/23 | 11/14/23 | 2/23/24 | - | - |
1THB in Million2THB
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 9,193 | 14,843 | 9,909 | 8,986 | - | 9,564 | 9,061 | 8,777 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 5.028 x | -90.76 x | -14.96 x | 9.274 x | - | 3.774 x | 3.248 x | 2.9 x |
| Free Cash Flow 1 | 66.1 | -1,150 | -1,229 | 495 | - | -348 | 504 | 872 |
| ROE (net income / shareholders' equity) | 7.88% | -35.8% | -41.7% | -3.83% | - | 12.1% | 11.9% | 12.8% |
| ROA (Net income/ Total Assets) | 2.56% | -8.79% | -9.39% | -1.02% | - | 3.34% | 3.59% | 4.03% |
| Assets 1 | 17,392 | 19,524 | 21,832 | 22,088 | - | 25,914 | 26,150 | 25,871 |
| Book Value Per Share 2 | 2.290 | 1.510 | 1.330 | 1.260 | - | 1.620 | 1.700 | 1.820 |
| Cash Flow per Share 2 | 0.7100 | -0.2100 | -0.1700 | 0.2800 | - | 0.3900 | 0.4100 | 0.4700 |
| Capex 1 | 1,714 | 614 | 595 | 792 | - | 2,280 | 1,164 | 730 |
| Capex / Sales | 26.79% | 26.64% | 40.05% | 17.11% | - | 28.43% | 13.41% | 7.96% |
| Announcement Date | 2/24/20 | 2/23/21 | 2/23/22 | 2/21/23 | 2/23/24 | - | - | - |
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-
Sell
Buy
Mean consensus
BUY
Number of Analysts
14
Last Close Price
4.76
THB
Average target price
6.104
THB
Spread / Average Target
+28.23%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -9.33% | 583M | |
| +6.64% | 69.32B | |
| +11.02% | 50.55B | |
| +11.31% | 16.13B | |
| +16.72% | 15.4B | |
| +21.13% | 11.08B | |
| +32.80% | 9.95B | |
| +13.56% | 5.13B | |
| +8.26% | 4.56B | |
| +24.16% | 3.82B |
- Stock Market
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- Financials The Erawan Group
