AAPICO HITECH |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 21.4 THB | -1.38% |
|
-3.60% | -23.57% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 4,774 | 5,742 | 9,581 | 10,557 | 9,936 | 7,594 | - | - |
| Enterprise Value (EV) 1 | 12,569 | 15,553 | 17,048 | 13,807 | 9,936 | 9,869 | 8,666 | 7,425 |
| P/E ratio | -26 x | 38.7 x | 9.34 x | 5.79 x | 6.17 x | 4.43 x | 4.15 x | 3.88 x |
| Yield | 2.43% | 0.84% | 3.48% | 5.18% | - | 7.91% | 8.4% | 9% |
| Capitalization / Revenue | 0.26 x | 0.33 x | 0.47 x | 0.38 x | 0.33 x | 0.25 x | 0.24 x | 0.23 x |
| EV / Revenue | 0.68 x | 0.91 x | 0.83 x | 0.49 x | 0.33 x | 0.32 x | 0.27 x | 0.22 x |
| EV / EBITDA | 9.72 x | 19.9 x | 10 x | 5.16 x | 3.32 x | 3.22 x | 2.72 x | 2.32 x |
| EV / FCF | 24.9 x | -48.4 x | 8.65 x | 12.7 x | - | 8.46 x | 5.35 x | 3.73 x |
| FCF Yield | 4.01% | -2.07% | 11.6% | 7.89% | - | 11.8% | 18.7% | 26.8% |
| Price to Book | 0.66 x | 0.77 x | 1.13 x | 1.1 x | - | 0.64 x | 0.58 x | 0.53 x |
| Nbr of stocks (in thousands) | 354,842 | 354,842 | 354,842 | 354,842 | 354,842 | 354,842 | - | - |
| Reference price 2 | 13.45 | 16.18 | 27.00 | 29.75 | 28.00 | 21.40 | 21.40 | 21.40 |
| Announcement Date | 3/3/20 | 3/1/21 | 2/28/22 | 2/28/23 | 2/29/24 | - | - | - |
1THB in Million2THB
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 18,389 | 17,172 | 20,433 | 27,967 | 30,034 | 30,511 | 31,809 | 33,037 |
| EBITDA 1 | 1,293 | 783.2 | 1,699 | 2,678 | 2,994 | 3,061 | 3,186 | 3,202 |
| EBIT 1 | 594.3 | -214.7 | 668.5 | 1,524 | 1,731 | 1,809 | 1,962 | 2,078 |
| Operating Margin | 3.23% | -1.25% | 3.27% | 5.45% | 5.76% | 5.93% | 6.17% | 6.29% |
| Earnings before Tax (EBT) 1 | -58.8 | 175.2 | 1,029 | 2,024 | 1,664 | 1,808 | 1,967 | 2,117 |
| Net income 1 | -181.1 | 147.8 | 1,024 | 1,824 | 1,610 | 1,714 | 1,831 | 1,958 |
| Net margin | -0.98% | 0.86% | 5.01% | 6.52% | 5.36% | 5.62% | 5.76% | 5.93% |
| EPS 2 | -0.5182 | 0.4182 | 2.890 | 5.140 | 4.540 | 4.828 | 5.160 | 5.520 |
| Free Cash Flow 1 | 504.5 | -321.4 | 1,971 | 1,089 | - | 1,167 | 1,621 | 1,990 |
| FCF margin | 2.74% | -1.87% | 9.65% | 3.89% | - | 3.83% | 5.1% | 6.03% |
| FCF Conversion (EBITDA) | 39.01% | - | 116% | 40.67% | - | 38.13% | 50.89% | 62.16% |
| FCF Conversion (Net income) | - | - | 192.5% | 59.73% | - | 68.11% | 88.54% | 101.68% |
| Dividend per Share 2 | 0.3273 | 0.1364 | 0.9400 | 1.540 | - | 1.692 | 1.798 | 1.925 |
| Announcement Date | 3/3/20 | 3/1/21 | 2/28/22 | 2/28/23 | 2/29/24 | - | - | - |
1THB in Million2THB
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 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 | 4,244 | 5,770 | 6,730 | 6,145 | 12,875 | 7,300 | 7,792 | 8,126 | 7,153 | 7,624 | 7,131 | - | - |
| EBITDA | 347.2 | 391.7 | 626.1 | 506 | 1,132 | 633.6 | 912.5 | 879.2 | 653.4 | 781.8 | 679.2 | - | - |
| EBIT | 86.24 | 129 | 353.5 | 209.2 | 562.7 | 358 | 603.7 | 568.1 | 343.8 | 438.7 | 380.8 | - | - |
| Operating Margin | 2.03% | 2.24% | 5.25% | 3.4% | 4.37% | 4.9% | 7.75% | 6.99% | 4.81% | 5.75% | 5.34% | - | - |
| Earnings before Tax (EBT) | 253.1 | 276.4 | 437.7 | 456.7 | 894.4 | 677.2 | 452.5 | 638.5 | 470.5 | 567.9 | -12.56 | - | - |
| Net income 1 | 234.6 | 128.5 | 402.5 | 409.8 | 812.3 | 600.7 | 410.7 | 561.8 | 410 | 501 | 137.7 | 480 | 279 |
| Net margin | 5.53% | 2.23% | 5.98% | 6.67% | 6.31% | 8.23% | 5.27% | 6.91% | 5.73% | 6.57% | 1.93% | - | - |
| EPS | 0.6610 | 0.3660 | 1.130 | 1.150 | 2.280 | 1.690 | 1.160 | 1.580 | 1.160 | 1.410 | 0.3900 | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/12/21 | 2/28/22 | 5/17/22 | 8/15/22 | 8/15/22 | 11/14/22 | 2/28/23 | 5/11/23 | 8/11/23 | 11/13/23 | 2/29/24 | - | - |
1THB in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 7,794 | 9,811 | 7,468 | 3,250 | - | 2,276 | 1,072 | - |
| Net Cash position 1 | - | - | - | - | - | - | - | 169 |
| Leverage (Debt/EBITDA) | 6.027 x | 12.53 x | 4.394 x | 1.214 x | - | 0.7435 x | 0.3365 x | - |
| Free Cash Flow 1 | 505 | -321 | 1,971 | 1,089 | - | 1,167 | 1,621 | 1,990 |
| ROE (net income / shareholders' equity) | 5.28% | 2.01% | 12.8% | 20.1% | - | 14.8% | 14.5% | 13.9% |
| ROA (Net income/ Total Assets) | - | 0.68% | 4.54% | 7.57% | - | 7.01% | 7.26% | 7.48% |
| Assets 1 | - | 21,820 | 22,535 | 24,096 | - | 24,453 | 25,240 | 26,162 |
| Book Value Per Share 2 | 20.40 | 21.10 | 24.00 | 27.10 | - | 33.70 | 37.00 | 40.60 |
| Cash Flow per Share 2 | - | 0.8000 | 6.510 | 5.770 | - | 8.750 | 8.820 | 9.320 |
| Capex 1 | 1,003 | 638 | 1,328 | 958 | - | 800 | 700 | 700 |
| Capex / Sales | 5.45% | 3.71% | 6.5% | 3.43% | - | 2.62% | 2.2% | 2.12% |
| Announcement Date | 3/3/20 | 3/1/21 | 2/28/22 | 2/28/23 | 2/29/24 | - | - | - |
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-
Sell
Buy
Mean consensus
BUY
Number of Analysts
5
Last Close Price
21.4
THB
Average target price
33.78
THB
Spread / Average Target
+57.85%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -23.57% | 205M | |
| +29.62% | 50.98B | |
| +25.77% | 20.39B | |
| -20.63% | 19.42B | |
| +31.67% | 17.27B | |
| +1.48% | 15.84B | |
| -18.75% | 13.35B | |
| +31.97% | 11.74B | |
| +28.58% | 10.66B | |
| +30.12% | 10.21B |
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