SGX:Y92

Stock Analysis Report

Executive Summary

Thai Beverage Public Company Limited, together with its subsidiaries, produces and distributes alcoholic and non-alcoholic beverages, and food products in Thailand and internationally.

Snowflake

Fundamentals

Proven track record second-rate dividend payer.

Share Price & News

How has Thai Beverage's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

9.2%

SGX:Y92

8.4%

SG Beverage

0.08%

SG Market


1 Year Return

39.1%

SGX:Y92

16.4%

SG Beverage

-2.6%

SG Market

Y92 outperformed the Beverage industry which returned 16.3% over the past year.

Y92 outperformed the Market in Singapore which returned -2.7% over the past year.


Share holder returns

Y92IndustryMarket
7 Day9.2%8.4%0.08%
30 Day4.1%5.6%-6.3%
90 Day12.7%10.4%-1.4%
1 Year42.1%39.1%17.3%16.4%1.2%-2.6%
3 Year-4.5%-11.9%32.2%27.3%15.8%3.5%
5 Year58.3%36.9%60.3%34.4%8.2%-9.5%

Price Volatility Vs. Market

How volatile is Thai Beverage's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Thai Beverage undervalued based on future cash flows and its price relative to the stock market?

21.14x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Thai Beverage's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Thai Beverage's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Thai Beverage is overvalued based on earnings compared to the Asia Beverage industry average.

Thai Beverage is overvalued based on earnings compared to the Singapore market.


Price Based on Expected Growth

Thai Beverage is poor value based on expected growth next year.


Price Based on Value of Assets

Thai Beverage is overvalued based on assets compared to the Asia Beverage industry average.


Next Steps

Future Growth

How is Thai Beverage expected to perform in the next 1 to 3 years based on estimates from 19 analysts?

7.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Thai Beverage's revenue is expected to grow by 5% yearly, however this is not considered high growth (20% yearly).

Thai Beverage's earnings are expected to grow by 7.8% yearly, however this is not considered high growth (20% yearly).

Thai Beverage's revenue growth is positive but not above the Singapore market average.

Thai Beverage's earnings growth is expected to exceed the Singapore market average.

Thai Beverage's earnings growth is expected to exceed the low risk savings rate of 2.3%.


Earnings per Share Growth Estimates


Future Return on Equity

Thai Beverage is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Thai Beverage performed over the past 5 years?

0.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Thai Beverage's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.

Thai Beverage's 1-year earnings growth exceeds its 5-year average (18.5% vs 0.8%)

Thai Beverage's earnings growth has exceeded the Asia Beverage industry average in the past year (18.5% vs 16%).


Return on Equity

Thai Beverage has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Thai Beverage used its assets more efficiently than the Asia Beverage industry average last year based on Return on Assets.


Return on Capital Employed

Thai Beverage's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Thai Beverage's financial position?


Financial Position Analysis

Thai Beverage is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Thai Beverage's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Thai Beverage's level of debt (150%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (56.7% vs 150% today).

Debt is not well covered by operating cash flow (16.2%, less than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 5.2x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0.3x debt.


Next Steps

Dividend

What is Thai Beverage's current dividend yield, its reliability and sustainability?

2.76%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Thai Beverage's pays a lower dividend yield than the bottom 25% of dividend payers in Singapore (2.64%).

Thai Beverage's dividend is below the markets top 25% of dividend payers in Singapore (5.74%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (2.4x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be covered by earnings (1.9x coverage).


Next Steps

Management

What is the CEO of Thai Beverage's salary, the management and board of directors tenure and is there insider trading?

2.8yrs

Average management tenure


CEO

Thapana Sirivadhanabhakdi (44yo)

11.6yrs

Tenure

0

Mr. Thapana Sirivadhanabhakdi serves as Vice Chairman and Executive Director of Amarin Printing and Publishing Public Company Limited. Mr. Sirivadhanabhakdi serves as Member of Executive Board at Amarin Pr ...


Management Age and Tenure

2.8yrs

Average Tenure

65yo

Average Age

The tenure for the Thai Beverage management team is about average.


Board Age and Tenure

15.8yrs

Average Tenure

73.5yo

Average Age

The average tenure for the Thai Beverage board of directors is over 10 years, this suggests they are a seasoned and experienced board.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

Buy฿61,20014 May 19
Ueychai Tantha-Obhas
EntityIndividual
Role
Member of the Board of Directors
Senior EVP
Shares80,000
Max Price฿0.76
Buy฿121,00007 Dec 18
Ueychai Tantha-Obhas
EntityIndividual
Role
Member of the Board of Directors
Senior EVP
Shares200,000
Max Price฿0.60

Ownership Breakdown


Management Team

  • Charoen Sirivadhanabhakdi (75yo)

    Executive Chairman

    • Tenure: 16.6yrs
  • Thapana Sirivadhanabhakdi (44yo)

    President

    • Tenure: 11.6yrs
  • Ueychai Tantha-Obhas (70yo)

    Senior EVP

    • Tenure: 14.1yrs
  • Sithichai Chaikriangkrai (65yo)

    CFO, Senior EVP of Finance & Director

    • Tenure: 15.8yrs
  • Pisanu Vichiensanth (63yo)

    Senior EVP

    • Tenure: 15.8yrs
  • Khunying Wanna Sirivadhanabhakdi (76yo)

    1st Executive Vice Chairman

    • Tenure: 16.6yrs
  • Banjong Chintanasiri (61yo)

    Senior VP & Deputy CFO of Accounting

    • Tenure: 2.8yrs
  • Suporn Denpaisarn

    Vice President of Marketing & Non-Alcoholic Beverage Business Group

    • Tenure: 0.0yrs
  • Chusri Prasertsin

    Assistant Vice President of Office of Legal Affairs

    • Tenure: 0.0yrs
  • Namfon Aungsutornrungsi

    Head of Investor Relations Department

    • Tenure: 5.6yrs

Board Members

  • Prasit Kovilaikool (75yo)

    Lead Independent Director

    • Tenure: 0.0yrs
    • Compensation: ฿275.00k
  • Charoen Sirivadhanabhakdi (75yo)

    Executive Chairman

    • Tenure: 16.6yrs
  • Tat Pun Ng (74yo)

    Independent Director

    • Tenure: 13.4yrs
    • Compensation: ฿110.00k
  • Thapana Sirivadhanabhakdi (44yo)

    President

    • Tenure: 11.6yrs
  • Vivat Tejapaibul (73yo)

    Director

    • Tenure: 15.8yrs
    • Compensation: ฿64.00k
  • Ueychai Tantha-Obhas (70yo)

    Senior EVP

    • Tenure: 14.1yrs
  • Sithichai Chaikriangkrai (65yo)

    CFO, Senior EVP of Finance & Director

    • Tenure: 15.8yrs
  • Pornchai Matangkasombut (78yo)

    Independent Director

    • Tenure: 13.4yrs
    • Compensation: ฿64.00k
  • Pisanu Vichiensanth (63yo)

    Senior EVP

    • Tenure: 15.8yrs
  • Khunying Wanna Sirivadhanabhakdi (76yo)

    1st Executive Vice Chairman

    • Tenure: 16.6yrs

Company Information

Thai Beverage Public Company Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Thai Beverage Public Company Limited
  • Ticker: Y92
  • Exchange: SGX
  • Founded: 2003
  • Industry: Distillers and Vintners
  • Sector: Food, Beverage & Tobacco
  • Market Cap: S$22.225b
  • Shares outstanding: 25.11b
  • Website: https://www.thaibev.com

Location

  • Thai Beverage Public Company Limited
  • 14 Vibhavadi Rangsit Road
  • Chomphon Sub-District
  • Bangkok
  • 10900
  • Thailand

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
Y92SGX (Singapore Exchange)YesOrdinary SharesSGSGDMay 2006
T6WDB (Deutsche Boerse AG)YesOrdinary SharesDEEURMay 2006
TBVP.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDMay 2006
TBVP.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDNov 2008

Biography

Thai Beverage Public Company Limited, together with its subsidiaries, produces and distributes alcoholic and non-alcoholic beverages, and food products in Thailand and internationally. The company operates ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/20 12:43
End of Day Share Price2019/08/20 00:00
Earnings2019/06/30
Annual Earnings2018/09/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.