Financials Pacific Pipe

Equities

PAP

TH0805A10Z00

Iron & Steel

End-of-day quote Thailand S.E. 06:00:00 2024-04-29 pm EDT 5-day change 1st Jan Change
2.54 THB +3.25% Intraday chart for Pacific Pipe +10.43% -0.78%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 2,257 1,465 2,416 3,115 2,455 1,690
Enterprise Value (EV) 1 4,053 2,798 3,889 4,903 4,102 3,079
P/E ratio 24 x 20.5 x 11.9 x 5.62 x -7.29 x -30.1 x
Yield 1.46% 12.2% 4.92% 17.8% - -
Capitalization / Revenue 0.23 x 0.16 x 0.33 x 0.32 x 0.25 x 0.19 x
EV / Revenue 0.41 x 0.3 x 0.53 x 0.5 x 0.42 x 0.35 x
EV / EBITDA 13.9 x 10.2 x 9.52 x 5.74 x -20.7 x 40.9 x
EV / FCF -28.6 x 5.49 x 75.9 x -16.9 x 5.1 x 11.7 x
FCF Yield -3.5% 18.2% 1.32% -5.93% 19.6% 8.52%
Price to Book 0.93 x 0.6 x 0.97 x 1.06 x 1.2 x 0.84 x
Nbr of stocks (in thousands) 660,000 660,000 660,000 660,000 660,000 660,000
Reference price 2 3.420 2.220 3.660 4.720 3.720 2.560
Announcement Date 2/22/19 2/19/20 2/19/21 2/22/22 2/23/23 2/22/24
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 9,935 9,335 7,382 9,716 9,871 8,727
EBITDA 1 291.4 273.1 408.4 854 -197.9 75.27
EBIT 1 166.1 145.1 287 740.1 -308.1 -23.2
Operating Margin 1.67% 1.55% 3.89% 7.62% -3.12% -0.27%
Earnings before Tax (EBT) 1 118.5 91.25 253.6 694.9 -336.8 -54.75
Net income 1 94 71.52 203 554.7 -335 -56.15
Net margin 0.95% 0.77% 2.75% 5.71% -3.39% -0.64%
EPS 2 0.1424 0.1084 0.3076 0.8404 -0.5100 -0.0851
Free Cash Flow 1 -141.8 510 51.21 -290.9 805 262.4
FCF margin -1.43% 5.46% 0.69% -2.99% 8.16% 3.01%
FCF Conversion (EBITDA) - 186.71% 12.54% - - 348.62%
FCF Conversion (Net income) - 713.08% 25.22% - - -
Dividend per Share 2 0.0500 0.2700 0.1800 0.8400 - -
Announcement Date 2/22/19 2/19/20 2/19/21 2/22/22 2/23/23 2/22/24
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 1,796 1,332 1,474 1,788 1,647 1,390
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 6.164 x 4.878 x 3.609 x 2.093 x -8.32 x 18.46 x
Free Cash Flow 1 -142 510 51.2 -291 805 262
ROE (net income / shareholders' equity) 3.76% 2.93% 8.2% 20.5% -13.5% -2.77%
ROA (Net income/ Total Assets) 2.13% 1.95% 4.02% 9.29% -4% -0.36%
Assets 1 4,417 3,670 5,054 5,972 8,380 15,751
Book Value Per Share 2 3.670 3.730 3.770 4.430 3.100 3.050
Cash Flow per Share 2 0.5700 0.4300 0.4000 0.6300 0.3800 0.4100
Capex 1 54.7 79.6 35.1 28.6 20 40
Capex / Sales 0.55% 0.85% 0.48% 0.29% 0.2% 0.46%
Announcement Date 2/22/19 2/19/20 2/19/21 2/22/22 2/23/23 2/22/24
1THB in Million2THB
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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