Financials Thaivivat Insurance

Equities

TVH

THB447010000

Life & Health Insurance

End-of-day quote Thailand S.E. 06:00:00 2024-05-02 pm EDT 5-day change 1st Jan Change
8.3 THB -1.19% Intraday chart for Thaivivat Insurance -1.19% +1.22%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 1,139 1,273 1,212 8,257 3,636 2,458
Enterprise Value (EV) 1 909.5 1,047 883 7,514 3,334 2,232
P/E ratio 10.2 x 11.2 x 15.6 x 17.5 x 17.6 x 8.85 x
Yield 5.32% 4.76% 5% 2.57% 2.42% 4.76%
Capitalization / Revenue 0.35 x 0.33 x 0.26 x 1.43 x 0.57 x 0.35 x
EV / Revenue 0.28 x 0.27 x 0.19 x 1.31 x 0.52 x 0.32 x
EV / EBITDA 5.7 x 6.49 x 7.16 x 12.2 x 11.8 x 5.94 x
EV / FCF 3.29 x 3.13 x 0.68 x 8.08 x 2.28 x 29.8 x
FCF Yield 30.4% 31.9% 148% 12.4% 43.8% 3.35%
Price to Book 0.92 x 0.98 x 0.91 x 4.62 x 2.02 x 1.3 x
Nbr of stocks (in thousands) 303,000 303,000 303,000 303,000 303,000 299,788
Reference price 2 3.760 4.200 4.000 27.25 12.00 8.200
Announcement Date 2/28/19 3/2/20 2/28/21 2/24/22 2/28/23 2/28/24
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 3,250 3,888 4,691 5,754 6,397 7,006
EBITDA 1 159.7 161.5 123.3 616.9 282.7 375.4
EBIT 1 136 136.1 96.2 590.6 259.1 349.7
Operating Margin 4.18% 3.5% 2.05% 10.26% 4.05% 4.99%
Earnings before Tax (EBT) 1 136 136.1 96.02 589.8 259.5 349.6
Net income 1 112.1 113.3 77.9 472.2 206.8 277.7
Net margin 3.45% 2.92% 1.66% 8.21% 3.23% 3.96%
EPS 2 0.3700 0.3740 0.2571 1.559 0.6824 0.9263
Free Cash Flow 1 276.1 334.5 1,308 930.5 1,461 74.84
FCF margin 8.49% 8.6% 27.89% 16.17% 22.84% 1.07%
FCF Conversion (EBITDA) 172.92% 207.18% 1,060.98% 150.83% 516.87% 19.94%
FCF Conversion (Net income) 246.3% 295.15% 1,679.19% 197.05% 706.76% 26.95%
Dividend per Share 2 0.2000 0.2000 0.2000 0.7000 0.2900 0.3900
Announcement Date 2/28/19 3/2/20 2/28/21 2/24/22 2/28/23 2/28/24
1THB in Million2THB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 230 225 329 743 302 227
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 276 335 1,308 931 1,461 74.8
ROE (net income / shareholders' equity) 9.09% 8.74% 5.84% 30% 11.3% 14.9%
ROA (Net income/ Total Assets) 1.56% 1.4% 0.84% 4.42% 1.75% 2.23%
Assets 1 7,170 8,112 9,314 10,677 11,840 12,436
Book Value Per Share 2 4.080 4.290 4.400 5.900 5.950 6.310
Cash Flow per Share 2 0.7600 0.7400 1.100 2.460 1.010 0.7600
Capex 1 49 35.4 32.4 20.3 43.2 36.5
Capex / Sales 1.51% 0.91% 0.69% 0.35% 0.68% 0.52%
Announcement Date 2/28/19 3/2/20 2/28/21 2/24/22 2/28/23 2/28/24
1THB in Million2THB
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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