THONBURI HEALTHCARE GROUP |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 39.25 THB | 0.00% |
|
-2.48% | -27.65% |
| Apr. 18 | Thonburi Healthcare Group Public Company Limited Announces Board Committee Changes | CI |
| Apr. 18 | Thonburi Healthcare Group Public Company Limited Announces Board Changes | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 22,713 | 21,728 | 31,446 | 58,052 | 45,975 | 33,263 | - | - |
| Enterprise Value (EV) 1 | 30,950 | 30,958 | 40,030 | 66,561 | 45,975 | 40,648 | 40,192 | 40,445 |
| P/E ratio | 48.6 x | 368 x | 23.6 x | 36.2 x | 155 x | 39.5 x | 33.5 x | 30 x |
| Yield | 1.5% | 1.17% | 2.42% | 1.31% | - | 1.38% | 1.62% | 1.94% |
| Capitalization / Revenue | 2.76 x | 2.97 x | 2.87 x | 5.03 x | 4.67 x | 2.94 x | 2.66 x | 2.43 x |
| EV / Revenue | 3.76 x | 4.23 x | 3.65 x | 5.77 x | 4.67 x | 3.59 x | 3.21 x | 2.95 x |
| EV / EBITDA | 28.6 x | 31.3 x | 13.6 x | 20.9 x | 26.7 x | 17.3 x | 15.6 x | 14.6 x |
| EV / FCF | -13.3 x | -28.3 x | 28.9 x | 52.7 x | - | 45.9 x | 43.2 x | 25.4 x |
| FCF Yield | -7.51% | -3.54% | 3.46% | 1.9% | - | 2.18% | 2.31% | 3.94% |
| Price to Book | 2.74 x | 2.76 x | 3.44 x | 5.7 x | - | 3.14 x | 2.99 x | 2.85 x |
| Nbr of stocks (in thousands) | 849,080 | 843,799 | 844,199 | 847,467 | 847,467 | 847,467 | - | - |
| Reference price 2 | 26.75 | 25.75 | 37.25 | 68.50 | 54.25 | 39.25 | 39.25 | 39.25 |
| Announcement Date | 2/27/20 | 2/23/21 | 2/15/22 | 2/23/23 | 2/22/24 | - | - | - |
1THB in Million2THB
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 8,232 | 7,315 | 10,975 | 11,540 | 9,844 | 11,323 | 12,516 | 13,698 |
| EBITDA 1 | 1,082 | 988.9 | 2,941 | 3,191 | 1,722 | 2,355 | 2,574 | 2,772 |
| EBIT 1 | 469.4 | 162.3 | 1,998 | 2,185 | 728 | 1,238 | 1,409 | 1,549 |
| Operating Margin | 5.7% | 2.22% | 18.2% | 18.93% | 7.4% | 10.94% | 11.26% | 11.31% |
| Earnings before Tax (EBT) 1 | - | 49.25 | 1,734 | 2,031 | 492.3 | 1,013 | 1,187 | 1,336 |
| Net income 1 | 462.4 | 62.43 | 1,337 | 1,602 | 295.4 | 846.7 | 990.3 | 1,114 |
| Net margin | 5.62% | 0.85% | 12.19% | 13.88% | 3% | 7.48% | 7.91% | 8.13% |
| EPS 2 | 0.5500 | 0.0700 | 1.580 | 1.890 | 0.3500 | 0.9933 | 1.170 | 1.310 |
| Free Cash Flow 1 | -2,324 | -1,095 | 1,383 | 1,263 | - | 884.8 | 929.9 | 1,595 |
| FCF margin | -28.23% | -14.97% | 12.61% | 10.94% | - | 7.81% | 7.43% | 11.65% |
| FCF Conversion (EBITDA) | - | - | 47.03% | 39.58% | - | 37.58% | 36.13% | 57.56% |
| FCF Conversion (Net income) | - | - | 103.44% | 78.84% | - | 104.51% | 93.9% | 143.26% |
| Dividend per Share 2 | 0.4000 | 0.3000 | 0.9000 | 0.9000 | - | 0.5400 | 0.6367 | 0.7600 |
| Announcement Date | 2/27/20 | 2/23/21 | 2/15/22 | 2/23/23 | 2/22/24 | - | - | - |
1THB in Million2THB
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 S1 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,472 | 3,861 | 3,642 | 3,530 | 2,674 | 2,954 | 2,508 | 2,515 | 2,724 | 2,096 | 2,701 |
| EBITDA 1 | - | - | - | 996.2 | 642.3 | 456.7 | 598.3 | 537.1 | - | -95.91 | 653 |
| EBIT 1 | 18.72 | - | - | 746.1 | 390.2 | 200.6 | 327.1 | 257.2 | - | -373.7 | 354 |
| Operating Margin | 0.54% | - | - | 21.14% | 14.59% | 6.79% | 13.04% | 10.23% | - | -17.83% | 13.11% |
| Earnings before Tax (EBT) 1 | - | - | - | 705.2 | 477 | - | 304.1 | 192.8 | 434.8 | -439.5 | 322 |
| Net income | -130.8 | 833.1 | 635.1 | 526.8 | 398.1 | 438.5 | 211.2 | 128.2 | - | -354 | - |
| Net margin | -3.77% | 21.58% | 17.44% | 14.92% | 14.89% | 14.84% | 8.42% | 5.1% | - | -16.89% | - |
| EPS | - | - | - | 0.6200 | - | - | 0.2500 | 0.1500 | - | - | - |
| Dividend per Share | - | - | - | - | - | 0.3000 | - | - | - | - | - |
| Announcement Date | 8/13/21 | 11/13/21 | 2/15/22 | 5/9/22 | 8/10/22 | 11/11/22 | 5/12/23 | 8/11/23 | 11/10/23 | 2/22/24 | - |
1THB in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 8,237 | 9,230 | 8,584 | 8,509 | - | 7,385 | 6,929 | 7,182 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 7.612 x | 9.333 x | 2.918 x | 2.667 x | - | 3.136 x | 2.692 x | 2.591 x |
| Free Cash Flow 1 | -2,324 | -1,095 | 1,383 | 1,263 | - | 885 | 930 | 1,595 |
| ROE (net income / shareholders' equity) | 5.6% | 0.77% | 15.7% | 16.6% | - | 8.07% | 8.93% | 9.6% |
| ROA (Net income/ Total Assets) | 2.42% | 0.31% | 6.07% | 6.55% | - | 4.25% | 4.75% | 5.55% |
| Assets 1 | 19,107 | 20,282 | 22,040 | 24,440 | - | 19,922 | 20,849 | 20,066 |
| Book Value Per Share 2 | 9.770 | 9.330 | 10.80 | 12.00 | - | 12.50 | 13.10 | 13.80 |
| Cash Flow per Share 2 | -0.2100 | 0.5200 | 2.410 | 2.940 | - | 2.670 | 3.030 | 3.370 |
| Capex 1 | 2,153 | 1,536 | 650 | 1,232 | - | 1,325 | 1,545 | 1,058 |
| Capex / Sales | 26.15% | 21% | 5.92% | 10.68% | - | 11.7% | 12.35% | 7.72% |
| Announcement Date | 2/27/20 | 2/23/21 | 2/15/22 | 2/23/23 | 2/22/24 | - | - | - |
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
Sell
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
3
Last Close Price
39.25
THB
Average target price
46.33
THB
Spread / Average Target
+18.05%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -27.65% | 903M | |
| -18.46% | 16.57B | |
| +4.50% | 12.51B | |
| +4.31% | 11.69B | |
| +5.36% | 10.36B | |
| +24.72% | 8.38B | |
| -2.64% | 7.75B | |
| +20.04% | 7.16B | |
| +4.17% | 6.6B | |
| +46.90% | 4.54B |
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