Company Valuation: Starflex

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,141 2,444 2,835 2,220 2,356 2,292 - -
Change - -40.99% 16% -21.67% 6.1% -2.68% - -
Enterprise Value (EV) 4,141 2,444 2,835 2,832 2,913 2,292 2,292 2,292
Change - -40.99% 16% -0.1% 2.86% -21.29% 0% 0%
P/E 28.1x 42.6x 15.6x 7.94x 9.81x 9.18x 9.18x 8.91x
PBR - - 2.85x 1.96x 2.08x 2.01x 1.96x 1.91x
PEG - -0.7x 0x 0.1x -0.9x 1.47x - 3.03x
Capitalization / Revenue 2.47x 1.46x 1.58x 1.19x 1.2x 1.1x 1.05x 0.99x
EV / Revenue 0x 0x 0x 0x 0x 1.1x 1.05x 0.99x
EV / EBITDA 0x 0x 0x 0x 0x 5.8x 5.83x 5.46x
EV / EBIT - - 0x 0x 0x 7.1x 7.19x 6.66x
EV / FCF -0x 0x 0x 0x 0x 15.4x 10.3x 9.88x
FCF Yield -3.15% 1.27% 6.65% 4.86% 12.6% 6.49% 9.74% 10.1%
Dividend per Share 2 0.085 - 0.075 0.133 0.104 0.12 0.12 0.12
Rate of return 1.68% - 2.09% 4.65% 3.31% 3.85% 3.85% 3.85%
EPS 2 0.18 0.07 0.23 0.36 0.32 0.34 0.34 0.35
Distribution rate 47.2% - 32.6% 36.9% 32.5% 35.3% 35.3% 34.3%
Net sales 1 1,674 1,669 1,795 1,869 1,963 2,081 2,176 2,306
EBITDA 1 222.9 124.2 265.2 332.5 332.6 395 393 420
EBIT 1 - - 207 266.2 261.9 323 319 344
Net income 1 149.8 55.07 184.3 280.8 243.2 267 269 274
Net Debt - - - 611.4 556.9 - - -
Reference price 2 5.050 2.980 3.580 2.860 3.140 3.120 3.120 3.120
Nbr of stocks (in thousands) 820,000 820,000 791,793 776,337 750,235 734,773 - -
Announcement Date 25/2/22 22/2/23 27/2/24 26/2/25 25/2/26 - - -
1THB in Million2THB
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.06x1.5x10.4x1.26% 16.76B
18.32x1.78x10.87x2.28% 13.22B
15.75x1.29x8.42x1.2% 12.58B
17.89x2.14x10.14x1.56% 11.38B
30.45x1.13x8.43x2.66% 9.32B
13x1.04x7.13x2.04% 4.37B
15.19x - - 2.62% 4.42B
16.56x2.18x9.56x5.76% 3.03B
Average 18.15x 1.58x 9.28x 2.42% 9.38B
Weighted average by Cap. 18.71x 1.57x 9.60x 1.96%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield