A

AP Thailand PCL
SET:AP

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AP Thailand PCL
SET:AP
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Price: 8.25 THB 0.61% Market Closed
Market Cap: ฿26B

EV/EBIT

9.3
Current
1%
Cheaper
vs 3-y median of 9.4

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
9.3
=
Enterprise Value
฿48.7B
/
EBIT
฿5.2B

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
9.3
=
Enterprise Value
฿48.7B
/
EBIT
฿5.2B

Valuation Scenarios

AP Thailand PCL is trading below its 3-year average

If EV/EBIT returns to its 3-Year Average (9.4), the stock would be worth ฿8.33 (1% upside from current price).

Statistics
Positive Scenarios
3/4
Maximum Downside
-2%
Maximum Upside
+54%
Average Upside
20%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple 9.3 ฿8.25
0%
3-Year Average 9.4 ฿8.33
+1%
5-Year Average 9.1 ฿8.08
-2%
Industry Average 14.3 ฿12.71
+54%
Country Average 11.7 ฿10.37
+26%

Forward EV/EBIT
Today’s price vs future ebit

Today's Enterprise Value EBIT Forward EV/EBIT
฿48.7B
/
Jan 2026
฿5.2B
=
9.3
Current
฿48.7B
/
Dec 2026
฿5.6B
=
8.6
Forward
฿48.7B
/
Dec 2027
฿6B
=
8.1
Forward
฿48.7B
/
Dec 2028
฿6.1B
=
8
Forward

Forward EV/EBIT shows whether today’s EV/EBIT still looks high or low once future ebit are taken into account.

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close
Market Cap EV/EBIT P/E
TH
AP Thailand PCL
SET:AP
26B THB 9.3 6
US
GE Vernova LLC
NYSE:GEV
235.3B USD 0 0
UK
Eight Capital Partners PLC
F:ECS
158.4B EUR 0 0
US
China Industrial Group Inc
OTC:CIND
121B USD 3 537.2 4 020.7
NL
Nepi Rockcastle NV
JSE:NRP
97.4B ZAR 14.3 10.4
CH
Galderma Group AG
SIX:GALD
35.5B CHF 0 0
US
Inspire Veterinary Partners Inc
NASDAQ:IVP
41B USD -4 340.4 -3 258.5
US
CoreWeave Inc
NASDAQ:CRWV
40.4B USD 0 0
US
Coupang Inc
F:788
29.4B EUR 58.9 156.5
US
Symbotic Inc
NASDAQ:SYM
30.6B USD -587.5 -2 788.5
ZA
Fortress Real Estate Investments Ltd
JSE:FFB
28.3B ZAR 11.4 8.2
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
TH
A
AP Thailand PCL
SET:AP
Average EV/EBIT: 726.2
9.3
5%
1.9
US
G
GE Vernova LLC
NYSE:GEV
Not Available
93%
N/A
UK
E
Eight Capital Partners PLC
F:ECS
Not Available N/A N/A
US
C
China Industrial Group Inc
OTC:CIND
3 537.2
N/A N/A
NL
N
Nepi Rockcastle NV
JSE:NRP
14.3
N/A N/A
CH
G
Galderma Group AG
SIX:GALD
Not Available
37%
N/A
US
I
Inspire Veterinary Partners Inc
NASDAQ:IVP
Negative Multiple: -4 340.4 N/A N/A
US
C
CoreWeave Inc
NASDAQ:CRWV
Not Available N/A N/A
US
Coupang Inc
F:788
58.9
75%
0.8
US
Symbotic Inc
NASDAQ:SYM
Negative Multiple: -587.5 N/A N/A
ZA
F
Fortress Real Estate Investments Ltd
JSE:FFB
11.4
4%
2.8
P/E Multiple
Earnings Growth PEG
TH
A
AP Thailand PCL
SET:AP
Average P/E: 840.4
6
10%
0.6
US
G
GE Vernova LLC
NYSE:GEV
Not Available
19%
N/A
UK
E
Eight Capital Partners PLC
F:ECS
Not Available N/A N/A
US
C
China Industrial Group Inc
OTC:CIND
4 020.7
N/A N/A
NL
N
Nepi Rockcastle NV
JSE:NRP
10.4
N/A N/A
CH
G
Galderma Group AG
SIX:GALD
Not Available
44%
N/A
US
I
Inspire Veterinary Partners Inc
NASDAQ:IVP
Negative Multiple: -3 258.5 N/A N/A
US
C
CoreWeave Inc
NASDAQ:CRWV
Not Available N/A N/A
US
Coupang Inc
F:788
156.5
105%
1.5
US
Symbotic Inc
NASDAQ:SYM
Negative Multiple: -2 788.5 N/A N/A
ZA
F
Fortress Real Estate Investments Ltd
JSE:FFB
8.2
0%
N/A

Market Distribution

In line with most companies in Thailand
Percentile
33rd
Based on 357 companies
33rd percentile
9.3
Low
0.4 — 8.7
Typical Range
8.7 — 15.7
High
15.7 —
Distribution Statistics
Thailand
Min 0.4
30th Percentile 8.7
Median 11.7
70th Percentile 15.7
Max 2 524.8

AP Thailand PCL
Glance View

Market Cap
26B THB
Industry
N/A

AP (Thailand) Public Co., Ltd. engages in the development of real estate. The company is headquartered in Bangkok, Bangkok Metropolis. The firm is principally engaged in real estate development, such as townhouse, single detached house (SDH) and condominium in the residential area or central business district. The firm operates through three business segments: Low-rise segment, High-rise segment and Other segment. The Low-rise segment is engaged in the development of real estate which comprises single detached house and townhouse. The High-rise segment is engaged in the development of real estate which comprises condominium. The Other segment comprises after sales services, property brokerage, education and training businesses, and construction services. The offered projects are developed to serve customers by type and price range under various brands, such as Baan Klang Krung, Baan Klang Muang, Pleno, The Palazzo, Soul, Centro, The City, Galerie, The Address, Rhythm, Life, Aspire and Coo.

AP Intrinsic Value
9.89 THB
Undervaluation 17%
Intrinsic Value
Price
A
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