Financials Bangkok Sheet Metal

Equities

BM

TH7207010003

Industrial Machinery & Equipment

End-of-day quote Thailand S.E. 06:00:00 2024-05-02 pm EDT 5-day change 1st Jan Change
2.86 THB -0.69% Intraday chart for Bangkok Sheet Metal -0.69% -5.30%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 1,285 831.6 1,170 2,105 2,271 1,830
Enterprise Value (EV) 1 1,453 1,043 1,442 2,401 2,504 2,110
P/E ratio 52.1 x 23.1 x 20.8 x 31.9 x 43.8 x 43.1 x
Yield 2.74% 4.23% 3.01% 0.9% 2.28% 2.28%
Capitalization / Revenue 1.29 x 0.91 x 1.17 x 1.85 x 1.74 x 1.28 x
EV / Revenue 1.46 x 1.14 x 1.44 x 2.11 x 1.92 x 1.48 x
EV / EBITDA 15.4 x 8.45 x 13.8 x 17.6 x 18.7 x 17.5 x
EV / FCF -20.2 x 29.2 x -36.3 x -16.3 x 134 x -35.5 x
FCF Yield -4.94% 3.43% -2.75% -6.14% 0.75% -2.82%
Price to Book 1.86 x 1.2 x 1.64 x 2.68 x 2.62 x 1.97 x
Nbr of stocks (in thousands) 440,000 440,000 440,000 471,892 518,459 605,925
Reference price 2 2.920 1.890 2.660 4.460 4.380 3.020
Announcement Date 2/27/19 2/28/20 2/25/21 2/25/22 2/23/23 2/23/24
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 996.9 913.3 998.8 1,135 1,305 1,430
EBITDA 1 94.45 123.4 104.3 136.6 134.1 120.7
EBIT 1 55.02 82.47 58.49 84.84 82.02 69.61
Operating Margin 5.52% 9.03% 5.86% 7.47% 6.28% 4.87%
Earnings before Tax (EBT) 1 36.65 48.39 62.66 71.3 63.96 47.3
Net income 1 24.67 36.01 56.17 74.01 55.05 40.17
Net margin 2.47% 3.94% 5.62% 6.52% 4.22% 2.81%
EPS 2 0.0561 0.0818 0.1277 0.1400 0.1000 0.0700
Free Cash Flow 1 -71.83 35.74 -39.68 -147.5 18.68 -59.44
FCF margin -7.21% 3.91% -3.97% -12.99% 1.43% -4.16%
FCF Conversion (EBITDA) - 28.97% - - 13.93% -
FCF Conversion (Net income) - 99.26% - - 33.92% -
Dividend per Share 2 0.0800 0.0800 0.0800 0.0400 0.1000 0.0690
Announcement Date 2/27/19 2/28/20 2/25/21 2/25/22 2/23/23 2/23/24
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 168 211 272 297 233 280
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 1.779 x 1.713 x 2.603 x 2.172 x 1.736 x 2.321 x
Free Cash Flow 1 -71.8 35.7 -39.7 -147 18.7 -59.4
ROE (net income / shareholders' equity) 3.59% 5.21% 8% 9.89% 6.67% 4.48%
ROA (Net income/ Total Assets) 3.47% 4.69% 3.04% 4.03% 3.71% 2.84%
Assets 1 710.3 767.3 1,848 1,838 1,486 1,414
Book Value Per Share 2 1.570 1.570 1.620 1.660 1.670 1.530
Cash Flow per Share 2 0 0.0100 0.0400 0.0500 0.0700 0.0500
Capex 1 104 49.6 166 81.4 118 129
Capex / Sales 10.39% 5.43% 16.62% 7.17% 9.01% 9.02%
Announcement Date 2/27/19 2/28/20 2/25/21 2/25/22 2/23/23 2/23/24
1THB in Million2THB
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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