| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| THAIBEV19 | HTC | CBG | SULA | 600559 | | OSOP.F | |
| SET:THAIBEV19 | SET:HTC | SET:CBG | NSEI:SULA | SHSE:600559 | | OTCPK:OSOP.F | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 5.0% | 8.4% | 7.5% | 2.6% | 8.0% | | 1.0% | |
| 3Y CAGR | 12.3% | 15.2% | 6.7% | 13.9% | 13.5% | | 0.4% | |
| Latest Twelve Months | 2.1% | 4.1% | 11.1% | 3.5% | 9.0% | | 3.9% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 13.6% | 11.0% | 19.4% | 21.8% | 12.8% | | 10.5% | |
| Prior Fiscal Year | 12.4% | 9.6% | 13.5% | 25.4% | 13.2% | | 8.9% | |
| Latest Fiscal Year | 12.8% | 9.3% | 18.1% | 25.6% | 15.2% | | 7.3% | |
| Latest Twelve Months | 12.8% | 9.3% | 18.1% | 20.3% | 17.1% | | 7.3% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 1.43x | 0.90x | 3.06x | 4.48x | 2.54x | | 1.49x | |
| EV / LTM EBIT | 11.2x | 9.6x | 16.9x | 22.1x | 14.9x | | 20.3x | |
| Price / LTM Sales | 0.87x | 0.78x | 2.98x | 3.90x | 2.98x | | 1.49x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.90x | 2.54x | 4.48x | | | | | |
| Historical EV / LTM Revenue | 1.49x | 2.95x | 3.93x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 2.24x | 2.36x | 2.47x | | | | | |
| (x) LTM Revenue | 27,078 | 27,078 | 27,078 | | | | | |
| (=) Implied Enterprise Value | 60,591 | 63,780 | 66,969 | | | | | |
| (-) Non-shareholder Claims * | (45) | (45) | (45) | | | | | |
| (=) Equity Value | 60,546 | 63,735 | 66,925 | | | | | |
| (/) Shares Outstanding | 3,390.3 | 3,390.3 | 3,390.3 | | | | | |
| Implied Value Range | 17.86 | 18.80 | 19.74 | | | | | |
| FX Rate: THB/USD | 34.1 | 34.1 | 34.1 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 0.52 | 0.55 | 0.58 | | 0.63 | | | |
| Upside / (Downside) | -17.0% | -12.7% | -8.3% | | | | | |