THONBURI HEALTHCARE GROUP |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 37.5 THB | -2.60% |
|
-2.60% | -30.88% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 22,713 | 21,728 | 31,446 | 58,052 | 45,975 | 31,780 | - | - |
| Enterprise Value (EV) 1 | 30,950 | 30,958 | 40,030 | 66,561 | 54,882 | 41,834 | 42,702 | 43,877 |
| P/E ratio | 48.6 x | 368 x | 23.6 x | 36.2 x | 155 x | 147 x | 45.3 x | 39 x |
| Yield | 1.5% | 1.17% | 2.42% | 1.31% | 1.66% | 0.31% | 1.25% | 1.53% |
| Capitalization / Revenue | 2.76 x | 2.97 x | 2.87 x | 5.03 x | 4.67 x | 2.95 x | 2.65 x | 2.46 x |
| EV / Revenue | 3.76 x | 4.23 x | 3.65 x | 5.77 x | 5.58 x | 3.89 x | 3.56 x | 3.4 x |
| EV / EBITDA | 28.6 x | 31.3 x | 13.6 x | 20.9 x | 31.9 x | 25.3 x | 18.6 x | 17.7 x |
| EV / FCF | -13.3 x | -28.3 x | 28.9 x | 52.7 x | 212 x | -58.9 x | 92.4 x | 35.2 x |
| FCF Yield | -7.51% | -3.54% | 3.46% | 1.9% | 0.47% | -1.7% | 1.08% | 2.84% |
| Price to Book | 2.74 x | 2.76 x | 3.44 x | 5.7 x | 4.27 x | 3.08 x | 2.98 x | 2.88 x |
| Nbr of stocks (in thousands) | 849,080 | 843,799 | 844,199 | 847,467 | 847,467 | 847,467 | - | - |
| Reference price 2 | 26.75 | 25.75 | 37.25 | 68.50 | 54.25 | 37.50 | 37.50 | 37.50 |
| Announcement Date | 2/27/20 | 2/23/21 | 2/15/22 | 2/23/23 | 2/22/24 | - | - | - |
1THB in Million2THB
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 8,232 | 7,315 | 10,975 | 11,540 | 9,844 | 10,756 | 11,994 | 12,906 |
| EBITDA 1 | 1,082 | 988.9 | 2,941 | 3,191 | 1,722 | 1,654 | 2,295 | 2,479 |
| EBIT 1 | 469.4 | 162.3 | 1,998 | 2,185 | 728 | 267 | 1,093 | 1,175 |
| Operating Margin | 5.7% | 2.22% | 18.2% | 18.93% | 7.4% | 2.48% | 9.12% | 9.1% |
| Earnings before Tax (EBT) 1 | - | 49.25 | 1,734 | 2,031 | 492.3 | -108 | 833.7 | 926.7 |
| Net income 1 | 462.4 | 62.43 | 1,337 | 1,602 | 295.4 | 218 | 701.2 | 819.8 |
| Net margin | 5.62% | 0.85% | 12.19% | 13.88% | 3% | 2.03% | 5.85% | 6.35% |
| EPS 2 | 0.5500 | 0.0700 | 1.580 | 1.890 | 0.3500 | 0.2550 | 0.8275 | 0.9625 |
| Free Cash Flow 1 | -2,324 | -1,095 | 1,383 | 1,263 | 259.2 | -710 | 461.9 | 1,247 |
| FCF margin | -28.23% | -14.97% | 12.61% | 10.94% | 2.63% | -6.6% | 3.85% | 9.66% |
| FCF Conversion (EBITDA) | - | - | 47.03% | 39.58% | 15.05% | - | 20.13% | 50.31% |
| FCF Conversion (Net income) | - | - | 103.44% | 78.84% | 87.75% | - | 65.87% | 152.13% |
| Dividend per Share 2 | 0.4000 | 0.3000 | 0.9000 | 0.9000 | 0.9000 | 0.1150 | 0.4675 | 0.5750 |
| Announcement Date | 2/27/20 | 2/23/21 | 2/15/22 | 2/23/23 | 2/22/24 | - | - | - |
1THB in Million2THB
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 S1 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,472 | 3,642 | 3,530 | 2,674 | 2,954 | 2,508 | 2,515 | 2,724 | 2,096 | 2,337 |
| EBITDA 1 | - | - | 996.2 | 642.3 | 456.7 | 598.3 | 537.1 | - | -95.91 | 374.3 |
| EBIT 1 | 18.72 | - | 746.1 | 390.2 | 200.6 | 327.1 | 257.2 | - | -373.7 | 79.46 |
| Operating Margin | 0.54% | - | 21.14% | 14.59% | 6.79% | 13.04% | 10.23% | - | -17.83% | 3.4% |
| Earnings before Tax (EBT) 1 | - | - | 705.2 | 477 | - | 304.1 | 192.8 | 434.8 | -439.5 | 36.32 |
| Net income 1 | -130.8 | 635.1 | 526.8 | 398.1 | 438.5 | 211.2 | 128.2 | - | -354 | 6.367 |
| Net margin | -3.77% | 17.44% | 14.92% | 14.89% | 14.84% | 8.42% | 5.1% | - | -16.89% | 0.27% |
| EPS | - | - | 0.6200 | - | - | 0.2500 | 0.1500 | - | - | - |
| Dividend per Share | - | - | - | - | 0.3000 | - | - | - | - | - |
| Announcement Date | 8/13/21 | 2/15/22 | 5/9/22 | 8/10/22 | 11/11/22 | 5/12/23 | 8/11/23 | 11/10/23 | 2/22/24 | 5/14/24 |
1THB in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 8,237 | 9,230 | 8,584 | 8,509 | 8,906 | 10,054 | 10,922 | 12,097 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 7.612 x | 9.333 x | 2.918 x | 2.667 x | 5.172 x | 6.077 x | 4.759 x | 4.88 x |
| Free Cash Flow 1 | -2,324 | -1,095 | 1,383 | 1,263 | 259 | -710 | 462 | 1,247 |
| ROE (net income / shareholders' equity) | 5.6% | 0.77% | 15.7% | 16.6% | 2.69% | 2.01% | 6.6% | 7.36% |
| ROA (Net income/ Total Assets) | 2.42% | 0.31% | 6.07% | 6.55% | 1.21% | 4.25% | 4.75% | 5.55% |
| Assets 1 | 19,107 | 20,282 | 22,040 | 24,440 | 24,315 | 5,129 | 14,763 | 14,770 |
| Book Value Per Share 2 | 9.770 | 9.330 | 10.80 | 12.00 | 12.70 | 12.20 | 12.60 | 13.00 |
| Cash Flow per Share 2 | -0.2100 | 0.5200 | 2.410 | 2.940 | 1.820 | 2.670 | 3.030 | 3.370 |
| Capex 1 | 2,153 | 1,536 | 650 | 1,232 | 1,283 | 1,567 | 1,888 | 1,261 |
| Capex / Sales | 26.15% | 21% | 5.92% | 10.68% | 13.03% | 14.57% | 15.74% | 9.77% |
| Announcement Date | 2/27/20 | 2/23/21 | 2/15/22 | 2/23/23 | 2/22/24 | - | - | - |
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
Sell
Buy
Mean consensus
SELL
Number of Analysts
4
Last Close Price
37.5
THB
Average target price
32.75
THB
Spread / Average Target
-12.67%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -30.88% | 865M | |
| -25.47% | 15.12B | |
| +3.65% | 11.66B | |
| -3.60% | 11.57B | |
| +7.08% | 10.43B | |
| +26.98% | 8.66B | |
| -7.47% | 7.45B | |
| +5.72% | 6.74B | |
| +9.12% | 6.48B | |
| -3.26% | 4.35B |
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- Financials Thonburi Healthcare Group
