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MAJO

Major Cineplex Group SET:MAJOR Stock Report

Last Price

฿21.60

Market Cap

฿19.3b

7D

0.5%

1Y

-14.5%

Updated

04 Jul, 2022

Data

Company Financials +
MAJOR fundamental analysis
Snowflake Score
Valuation6/6
Future Growth3/6
Past Performance2/6
Financial Health4/6
Dividends4/6

MAJOR Stock Overview

Major Cineplex Group Public Company Limited, together with its subsidiaries, operates as a lifestyle entertainment company primarily in Thailand.

Major Cineplex Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Major Cineplex Group
Historical stock prices
Current Share Price฿21.60
52 Week High฿25.75
52 Week Low฿17.90
Beta1.04
1 Month Change3.35%
3 Month Change11.34%
1 Year Change-14.46%
3 Year Change-24.21%
5 Year Change-33.02%
Change since IPO56.52%

Recent News & Updates

Shareholder Returns

MAJORTH EntertainmentTH Market
7D0.5%-1.5%0.2%
1Y-14.5%-17.8%1.0%

Return vs Industry: MAJOR exceeded the TH Entertainment industry which returned -17.8% over the past year.

Return vs Market: MAJOR underperformed the TH Market which returned 1% over the past year.

Price Volatility

Is MAJOR's price volatile compared to industry and market?
MAJOR volatility
MAJOR Average Weekly Movement3.1%
Entertainment Industry Average Movement7.2%
Market Average Movement5.1%
10% most volatile stocks in TH Market10.7%
10% least volatile stocks in TH Market2.6%

Stable Share Price: MAJOR is less volatile than 75% of TH stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: MAJOR's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1995n/aVicha Poolvaraluckhttps://www.majorcineplex.com

Major Cineplex Group Public Company Limited, together with its subsidiaries, operates as a lifestyle entertainment company primarily in Thailand. It operates through five segments: Cinema Business, Advertising Business, Bowling and Karaoke Business, Rental and Services Business, and Movie Content Business. The Cinema Business segment operates a network of cineplexes that offer various films selection in the multiplex cinema format, as well as restaurants, banks, and other lifestyle shops.

Major Cineplex Group Fundamentals Summary

How do Major Cineplex Group's earnings and revenue compare to its market cap?
MAJOR fundamental statistics
Market Cap฿19.32b
Earnings (TTM)฿1.73b
Revenue (TTM)฿3.28b

11.2x

P/E Ratio

5.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MAJOR income statement (TTM)
Revenue฿3.28b
Cost of Revenue฿3.11b
Gross Profit฿173.78m
Other Expenses-฿1.55b
Earnings฿1.73b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)1.93
Gross Margin5.29%
Net Profit Margin52.53%
Debt/Equity Ratio30.3%

How did MAJOR perform over the long term?

See historical performance and comparison

Dividends

5.6%

Current Dividend Yield

80%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is MAJOR undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MAJOR?

Other financial metrics that can be useful for relative valuation.

MAJOR key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue6.1x
Enterprise Value/EBITDA-35.2x
PEG Ratio0.8x

Price to Earnings Ratio vs Peers

How does MAJOR's PE Ratio compare to its peers?

MAJOR PE Ratio vs Peers
The above table shows the PE ratio for MAJOR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average111.4x
ONEE ONE Enterprise
26.3x17.4%฿23.3b
RS RS
343.4x37.1%฿14.5b
WORK Workpoint Entertainment
41.1x19.0%฿9.8b
YGG Yggdrazil Group
34.7x18.8%฿4.4b
MAJOR Major Cineplex Group
11.2x13.6%฿19.3b

Price-To-Earnings vs Peers: MAJOR is good value based on its Price-To-Earnings Ratio (11.2x) compared to the peer average (111.4x).


Price to Earnings Ratio vs Industry

How does MAJOR's PE Ratio compare vs other companies in the Asian Entertainment Industry?

Price-To-Earnings vs Industry: MAJOR is good value based on its Price-To-Earnings Ratio (11.2x) compared to the TH Entertainment industry average (34.5x)


Price to Earnings Ratio vs Fair Ratio

What is MAJOR's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MAJOR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.2x
Fair PE Ratio24x

Price-To-Earnings vs Fair Ratio: MAJOR is good value based on its Price-To-Earnings Ratio (11.2x) compared to the estimated Fair Price-To-Earnings Ratio (24x).


Share Price vs Fair Value

What is the Fair Price of MAJOR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MAJOR (THB21.6) is trading below our estimate of fair value (THB41.08)

Significantly Below Fair Value: MAJOR is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: MAJOR is good value based on its PEG Ratio (0.8x)


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Future Growth

How is Major Cineplex Group forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


13.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MAJOR's forecast earnings growth (13.6% per year) is above the savings rate (2%).

Earnings vs Market: MAJOR's earnings (13.6% per year) are forecast to grow slower than the TH market (18.6% per year).

High Growth Earnings: MAJOR's earnings are forecast to grow, but not significantly.

Revenue vs Market: MAJOR's revenue (20.5% per year) is forecast to grow faster than the TH market (10.3% per year).

High Growth Revenue: MAJOR's revenue (20.5% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MAJOR's Return on Equity is forecast to be low in 3 years time (14.8%).


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Past Performance

How has Major Cineplex Group performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-12.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MAJOR has a high level of non-cash earnings.

Growing Profit Margin: MAJOR became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: MAJOR's earnings have declined by 12.3% per year over the past 5 years.

Accelerating Growth: MAJOR has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: MAJOR has become profitable in the last year, making it difficult to compare its past year earnings growth to the Entertainment industry (22.9%).


Return on Equity

High ROE: MAJOR's Return on Equity (22.8%) is considered high.


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Financial Health

How is Major Cineplex Group's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: MAJOR's short term assets (THB5.2B) exceed its short term liabilities (THB4.4B).

Long Term Liabilities: MAJOR's short term assets (THB5.2B) exceed its long term liabilities (THB4.1B).


Debt to Equity History and Analysis

Debt Level: MAJOR has more cash than its total debt.

Reducing Debt: MAJOR's debt to equity ratio has reduced from 68.6% to 30.3% over the past 5 years.

Debt Coverage: MAJOR's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if MAJOR's interest payments on its debt are well covered by EBIT.


Balance Sheet


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Dividend

What is Major Cineplex Group current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


5.56%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: MAJOR's dividend (5.56%) is higher than the bottom 25% of dividend payers in the TH market (1.79%).

High Dividend: MAJOR's dividend (5.56%) is in the top 25% of dividend payers in the TH market (5.4%)


Stability and Growth of Payments

Stable Dividend: MAJOR's dividend payments have been volatile in the past 10 years.

Growing Dividend: MAJOR's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: At its current payout ratio (80.2%), MAJOR's payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: MAJOR is paying a dividend but the company has no free cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

9.5yrs

Average management tenure


CEO

Vicha Poolvaraluck (59 yo)

20.42yrs

Tenure

฿600,500

Compensation

Mr. Vicha Poolvaraluck serves as the Chief Executive Officer and Director of Major Cineplex Group Public Company Limited since February 23, 2002 and serves as its President, Deputy Chief Corporate Strategy...


Leadership Team

Experienced Management: MAJOR's management team is seasoned and experienced (9.5 years average tenure).


Board Members

Experienced Board: MAJOR's board of directors are seasoned and experienced ( 17.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Major Cineplex Group Public Company Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Major Cineplex Group Public Company Limited
  • Ticker: MAJOR
  • Exchange: SET
  • Founded: 1995
  • Industry: Movies and Entertainment
  • Sector: Media
  • Implied Market Cap: ฿19.325b
  • Shares outstanding: 894.67m
  • Website: https://www.majorcineplex.com

Location

  • Major Cineplex Group Public Company Limited
  • 1839, 1839/1-6 Phaholyothin Road
  • 8th Floor
  • Bangkok
  • 10900
  • Thailand

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/07/04 00:00
End of Day Share Price2022/07/04 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.