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Thai Beverage

DB:T6W
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
T6W
DB
SGD20B
Market Cap
  1. Home
  2. DE
  3. Food, Beverage & Tobacco
Company description

Thai Beverage Public Company Limited, together with its subsidiaries, produces and distributes alcoholic and non-alcoholic beverages, and food products in Thailand, Vietnam, and internationally. The last earnings update was 13 days ago. More info.


Add to Portfolio Compare Print
T6W Share Price and Events
7 Day Returns
-7.3%
DB:T6W
-4%
DE Beverage
-6.8%
DE Market
1 Year Returns
-0.8%
DB:T6W
10.8%
DE Beverage
6.5%
DE Market
T6W Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Thai Beverage (T6W) -7.3% 1% -9.7% -0.8% -18.4% 9.2%
DE Beverage -4% -0.6% 2.7% 10.8% 34.8% 64.1%
DE Market -6.8% -3.7% -3.6% 6.5% -2.6% -2.9%
1 Year Return vs Industry and Market
  • T6W underperformed the Beverage industry which returned 10.8% over the past year.
  • T6W underperformed the Market in Germany which returned 6.5% over the past year.
Price Volatility
T6W
Industry
5yr Volatility vs Market

Value

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

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Thai Beverage to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Thai Beverage.

DB:T6W Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 17 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.6%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:T6W
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 7.5%
Beverage Unlevered Beta Simply Wall St/ S&P Global 0.47
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.47 (1 + (1- 20%) (46.17%))
0.761
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.8 * 7.46%)
5.58%

Discounted Cash Flow Calculation for DB:T6W using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Thai Beverage is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:T6W DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (THB, Millions) Source Present Value
Discounted (@ 5.58%)
2020 27,761.00 Analyst x6 26,294.30
2021 30,521.86 Analyst x7 27,381.93
2022 32,539.40 Analyst x5 27,649.63
2023 33,842.99 Est @ 4.01% 27,237.99
2024 34,752.47 Est @ 2.69% 26,492.23
2025 35,365.55 Est @ 1.76% 25,535.24
2026 35,760.90 Est @ 1.12% 24,456.51
2027 35,998.90 Est @ 0.67% 23,318.56
2028 36,124.49 Est @ 0.35% 22,163.63
2029 36,170.44 Est @ 0.13% 21,019.36
Present value of next 10 years cash flows ฿251,549.00
DB:T6W DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ฿36,170.44 × (1 + -0.39%) ÷ (5.58% – -0.39%)
฿603,709.44
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ฿603,709.44 ÷ (1 + 5.58%)10
฿350,827.53
DB:T6W Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ฿251,549.00 + ฿350,827.53
฿602,376.53
Equity Value per Share
(THB)
= Total value / Shares Outstanding
= ฿602,376.53 / 25,115.71
฿23.98
DB:T6W Discount to Share Price
Calculation Result
Exchange Rate THB/SGD
(Reporting currency to currency of SGX:Y92)
0.044
Value per Share
(SGD)
= Value per Share in THB x Exchange Rate (THB/SGD)
= ฿23.98 x 0.044
SGD1.05
Non-primary Listing Adjustment Factor 1 share in DB:T6W represents 0.63354x of SGX:Y92
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.63354x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (SGD) x Listing Adjustment Factor
= SGD 1.05 x 0.63354
€0.67
Value per share (EUR) From above. €0.67
Current discount Discount to share price of €0.51
= -1 x (€0.51 - €0.67) / €0.67
23.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Thai Beverage is available for.
Intrinsic value
24%
Share price is €0.51 vs Future cash flow value of €0.66674
Current Discount Checks
For Thai Beverage to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Thai Beverage's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Thai Beverage's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Thai Beverage's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Thai Beverage's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:T6W PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in THB ฿0.97
SGX:Y92 Share Price ** SGX (2020-02-27) in SGD SGD0.81
SGX:Y92 Share Price converted to THB reporting currency Exchange rate (SGD/ THB) 22.79 ฿18.35
Germany Beverage Industry PE Ratio Median Figure of 7 Publicly-Listed Beverage Companies 29.97x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 19.97x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Thai Beverage.

DB:T6W PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SGX:Y92 Share Price ÷ EPS (both in THB)

= 18.35 ÷ 0.97

18.98x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Thai Beverage is good value based on earnings compared to the DE Beverage industry average.
  • Thai Beverage is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Thai Beverage's expected growth come at a high price?
Raw Data
DB:T6W PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.98x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts
7.9%per year
Europe Beverage Industry PEG Ratio Median Figure of 30 Publicly-Listed Beverage Companies 2.56x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

DB:T6W PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.98x ÷ 7.9%

2.4x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Thai Beverage is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Thai Beverage's assets?
Raw Data
DB:T6W PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in THB ฿4.92
SGX:Y92 Share Price * SGX (2020-02-27) in SGD SGD0.81
SGX:Y92 Share Price converted to THB reporting currency Exchange rate (SGD/ THB) 22.79 ฿18.35
Germany Beverage Industry PB Ratio Median Figure of 7 Publicly-Listed Beverage Companies 2.36x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.77x
DB:T6W PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:Y92 Share Price ÷ Book Value per Share (both in THB)

= 18.35 ÷ 4.92

3.73x

* Primary Listing of Thai Beverage.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Thai Beverage is overvalued based on assets compared to the DE Beverage industry average.
X
Value checks
We assess Thai Beverage's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Beverage industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Beverage industry average (and greater than 0)? (1 check)
  5. Thai Beverage has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Thai Beverage expected to perform in the next 1 to 3 years based on estimates from 17 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Thai Beverage expected to grow at an attractive rate?
  • Thai Beverage's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Thai Beverage's earnings growth is positive but not above the Germany market average.
  • Thai Beverage's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:T6W Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:T6W Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts 7.9%
DB:T6W Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 17 Analysts 4%
Europe Beverage Industry Earnings Growth Rate Market Cap Weighted Average 7.4%
Europe Beverage Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:T6W Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
All numbers in THB Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:T6W Future Estimates Data
Date (Data in THB Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-09-30 299,039 37,244 30,238 13
2021-09-30 288,838 35,701 28,075 17
2020-09-30 276,240 31,947 25,954 14
2020-02-27
DB:T6W Past Financials Data
Date (Data in THB Millions) Revenue Cash Flow Net Income *
2019-12-31 270,409 32,961 24,278
2019-09-30 267,357 38,476 23,272
2019-06-30 261,257 36,194 22,943
2019-03-31 259,256 31,314 21,738
2018-12-31 256,847 34,226 22,543
2018-09-30 229,695 22,280 17,943
2018-06-30 221,252 26,476 19,864
2018-03-31 205,879 26,446 29,649
2017-12-31 188,644 27,390 29,612
2017-09-30 189,997 29,573 34,510
2017-06-30 181,016 24,638 34,058
2017-03-31 181,378 23,648 24,631

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Thai Beverage's earnings are expected to grow by 7.9% yearly, however this is not considered high growth (20% yearly).
  • Thai Beverage's revenue is expected to grow by 4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:T6W Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below

All data from Thai Beverage Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:T6W Future Estimates Data
Date (Data in THB Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-09-30 1.21 1.31 1.03 10.00
2021-09-30 1.12 1.22 1.01 15.00
2020-09-30 1.04 1.09 0.97 15.00
2020-02-27
DB:T6W Past Financials Data
Date (Data in THB Millions) EPS *
2019-12-31 0.97
2019-09-30 0.93
2019-06-30 0.91
2019-03-31 0.87
2018-12-31 0.90
2018-09-30 0.71
2018-06-30 0.79
2018-03-31 1.18
2017-12-31 1.18
2017-09-30 1.37
2017-06-30 1.36
2017-03-31 0.98

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Thai Beverage is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Thai Beverage's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Thai Beverage has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Thai Beverage performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Thai Beverage's growth in the last year to its industry (Beverage).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Thai Beverage's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Thai Beverage's 1-year earnings growth exceeds its 5-year average (7.7% vs -1.6%)
  • Thai Beverage's earnings growth has exceeded the DE Beverage industry average in the past year (7.7% vs -11.6%).
Earnings and Revenue History
Thai Beverage's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Thai Beverage Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:T6W Past Revenue, Cash Flow and Net Income Data
Date (Data in THB Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 270,409.35 24,278.34 44,800.16
2019-09-30 267,356.56 23,272.39 45,682.31
2019-06-30 261,257.19 22,942.90 44,901.27
2019-03-31 259,256.29 21,738.24 44,543.84
2018-12-31 256,846.93 22,543.21 44,566.13
2018-09-30 229,695.09 17,942.88 41,317.05
2018-06-30 221,251.59 19,863.52 38,653.85
2018-03-31 205,878.55 29,649.36 35,860.29
2017-12-31 188,644.25 29,611.67 32,570.52
2017-09-30 189,997.30 34,509.74 30,574.19
2017-06-30 181,015.88 34,058.32 30,808.14
2017-03-31 181,377.98 24,631.43 30,287.68
2016-12-31 186,348.72 26,634.48 29,026.56
2016-09-30 190,671.73 24,949.23 29,921.22
2016-06-30 188,645.92 28,391.76 28,218.99
2016-03-31 181,992.44 28,448.20 27,588.69
2015-12-31 172,597.53 26,463.32 27,028.23
2015-09-30 166,912.34 26,919.09 25,993.06
2015-06-30 165,715.84 22,640.90 25,414.53
2015-03-31 166,747.90 22,300.34 24,762.26
2014-12-31 162,087.00 21,693.54 23,953.31
2014-09-30 161,180.85 21,886.25 22,872.29
2014-06-30 160,946.44 22,245.22 22,687.68
2014-03-31 157,756.06 21,646.68 22,518.99
2013-12-31 155,866.54 19,130.30 22,737.24
2013-09-30 152,833.16 15,940.13 23,674.28
2013-06-30 155,370.11 27,540.43 23,348.34
2013-03-31 159,912.11 27,647.85 22,999.33

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Thai Beverage has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Thai Beverage used its assets more efficiently than the DE Beverage industry average last year based on Return on Assets.
  • Thai Beverage's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Thai Beverage's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Beverage industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Thai Beverage has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Thai Beverage's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Thai Beverage's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • 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.
Balance sheet
This treemap shows a more detailed breakdown of Thai Beverage's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Thai Beverage Company Filings, last reported 1 month ago.

DB:T6W Past Debt and Equity Data
Date (Data in THB Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 158,608.99 212,749.55 27,520.44
2019-09-30 150,324.71 219,582.68 24,416.48
2019-06-30 148,477.01 222,765.25 24,083.70
2019-03-31 159,719.85 223,906.93 22,658.88
2018-12-31 161,047.08 217,404.64 22,408.71
2018-09-30 155,473.02 231,286.33 22,597.72
2018-06-30 142,855.57 235,278.87 23,118.59
2018-03-31 141,837.64 234,516.95 26,868.25
2017-12-31 146,908.06 229,526.48 25,719.99
2017-09-30 132,513.00 40,658.39 10,080.21
2017-06-30 127,648.66 42,360.00 3,888.47
2017-03-31 126,315.73 41,139.44 2,499.33
2016-12-31 128,489.62 40,089.86 4,756.27
2016-09-30 123,712.25 46,085.30 5,322.18
2016-06-30 122,118.57 42,039.35 2,934.76
2016-03-31 128,951.56 36,220.86 4,690.94
2015-12-31 119,265.51 44,257.17 4,584.95
2015-09-30 112,007.21 52,019.57 1,498.25
2015-06-30 106,777.12 49,986.54 1,909.30
2015-03-31 109,229.71 44,166.46 2,317.85
2014-12-31 104,676.31 49,502.23 3,460.38
2014-09-30 100,587.91 57,909.36 1,913.50
2014-06-30 101,730.06 57,688.09 2,970.09
2014-03-31 104,385.91 65,383.33 9,926.42
2013-12-31 97,993.09 67,699.56 6,114.57
2013-09-30 90,451.35 68,422.48 4,679.48
2013-06-30 89,435.57 98,324.14 1,555.96
2013-03-31 91,056.33 90,493.73 3,258.29
  • Thai Beverage's level of debt (134.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (47.2% vs 134.1% today).
  • Debt is not well covered by operating cash flow (15.5%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.9x coverage).
X
Financial health checks
We assess Thai Beverage's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Thai Beverage has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.62%
Current annual income from Thai Beverage dividends. Estimated to be 3.16% next year.
If you bought €2,000 of Thai Beverage shares you are expected to receive €52 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Thai Beverage's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Thai Beverage's dividend is below the markets top 25% of dividend payers in Germany (3.81%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:T6W Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
Germany Beverage Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 1.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 333 Stocks 2.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:T6W Future Dividends Estimate Data
Date (Data in ฿) Dividend per Share (annual) Avg. No. Analysts
2022-09-30 0.65 10.00
2021-09-30 0.58 16.00
2020-09-30 0.53 15.00
2020-02-27
DB:T6W Past Annualized Dividends Data
Date (Data in ฿) Dividend per share (annual) Avg. Yield (%)
2020-01-10 0.480 2.611
2019-01-11 0.390 2.038
2017-11-23 0.670 3.757
2016-11-18 0.600 2.678
2016-10-17 0.600 2.537
2016-08-11 0.660 2.641
2016-02-26 0.610 2.841
2015-08-13 0.610 3.488
2015-04-02 0.610 3.228
2014-08-14 0.450 2.521
2014-02-27 0.440 2.787
2013-08-14 0.420 3.169
2013-02-27 0.420 2.881
2012-02-28 0.370 4.064
2011-08-11 0.350 5.431
2011-02-23 0.350 5.076
2010-08-11 0.330 4.985
2010-02-26 0.330 5.067
2009-08-17 0.330 5.570
2009-03-02 0.300 6.463

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • 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
What portion of Thai Beverage's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.9x coverage).
X
Income/ dividend checks
We assess Thai Beverage's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Thai Beverage afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Thai Beverage has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Thapana Sirivadhanabhakdi
AGE 44
TENURE AS CEO 12.1 years
CEO Bio

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 Printing and Publishing Public Company Limited. Mr. Sirivadhanabhakdi served as President at Amarin Printing and Publishing Public Company Limited. Mr. Sirivadhanabhakdi has been the Chief Executive Officer and President of Thai Beverage Public Company Limited since January 18, 2008 and served as its President of Business Development and President of Sales Planning & Support. He is Chief of Beer Product Group and Chief of Center of Excellence at Thai Beverage Public Company Limited since October 2018 and since October 2016 respectively. Mr. Sirivadhanabhakdi serves as the Chief Executive Officer and President at International Beverage Holdings Ltd. He serves as an Acting President of Thai Beverage Marketing Co., Ltd. He served as Chief Executive Officer of Siam Food Products Public Company Limited since 2008 and served as its President since 2008. He served as a Director at Berli Jucker Public Co. Ltd. since December 26,2001 to February 2017. He served as Executive Vice president of Thai Beverage Public Company Ltd. from 2003 to January 1, 2008. He serves as the Chairman of Feed Addition Co., Ltd. and Thai Beverage Energy Co., Ltd. Mr. Sirivadhanabhakdi served as Vice Chairman of Red Bull Distillery (1998) Co., Ltd., since 2004 to June 2018. He serves as Deputy Chairman of Thai Beverage Marketing Co., Ltd. In 2004, he was appointed Vice Chairman of Thai Alcohol Public Company Limited and Vice Chairman of Dhospaak Co., Ltd. He served as Director and Executive Vice Chairman of Beer Thai (1991) Public Company Limited from April 2004 to February 2018. He serves as Vice-Chairman at South East Group of Companies. He serves as Director at InterBev Investment Limited, Plantheon Group of Companies, Pracharath Rak Samakkee (Social Enterprise) (Thailand) Co., Ltd., TCC Group of Companies and Univentures Group of Companies. He serves as a Vice Chairman of Univentures Public Company Limited. He served as a Vice Chairman at Siam Food Products Public Company Limited from May 2007 to August 2015. He has been 3rd Vice Chairman at Sermsuk Public Company Limited since March 26, 2015 and has been its Director since September 14, 2011. Mr. Sirivadhanabhakdi has been a Non-Independent & Non-Executive Director of Fraser and Neave Ltd. since February 19, 2013. He has been a Director of Thai Beverage Public Company Limited since October 26, 2003. He has been a Non-Executive Director of Univentures Public Company Limited., since July 18, 2007. He serves as a Director of Wrangyer Beverage (2008) Co., Ltd.; Adelfos Company Limited and of T.C.C. Technology Company Limited. He served as a Director of Berli Jucker Public Company Limited from December 26, 2001 to February 14, 2017. He served as a Director at Siam Food Products Public Company Limited from 2007 to August 11, 2015. He had been a Non-Executive Director at Golden Land Property Development Public Company Limited since April 23, 2013 until February 4, 2020. He served as Executive Vice Chairman of Oishi Group Public Company Limited since 2006 until February 4, 2020 and had been Executive Director of Oishi Group Public Company Limited since January 26, 2006 until February 4, 2020. Mr. Sirivadhanabhakdi holds a Bachelor's Degree in Business Administration in Finance and a Master's Degree in Science Administration in Finance Economics from Boston University, United States. Academic & Professional Qualification?s - Honorary Doctoral Degree of Arts from Rajamangala University of Technology Phra Nakhon - Honorary Doctoral Degree in Hospitality from Rajamangala University of Technology Krungthep - Honorary Doctoral Degree in Community Development from Chiang Mai Rajabhat University - Honorary Doctoral Degree of Business Administration in Strategic Logistic and Supply Chain Management from Suan Sunandha Rajabhat University - Honorary Doctoral Degree of Philosophy in General Management from Ramkhamhaeng University - Master of Science Administration in Financial Economics from Boston University, USA - Bachelor of Business Administration (Finance) from Boston University, USA - Director Accreditation Program (DAP) 2004 Thai Institute of Directors Association (IOD).

CEO Compensation
  • Insufficient data for Thapana to compare compensation growth.
  • Insufficient data for Thapana to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Thai Beverage management team in years:

3.3
Average Tenure
65
Average Age
  • The tenure for the Thai Beverage management team is about average.
Management Team

Charoen Sirivadhanabhakdi

TITLE
Executive Chairman
AGE
75

Thapana Sirivadhanabhakdi

TITLE
President
AGE
44
TENURE
12.1 yrs

Khunying Wanna Sirivadhanabhakdi

TITLE
1st Executive Vice Chairman
AGE
76

Sithichai Chaikriangkrai

TITLE
Group CFO
AGE
65
TENURE
3.3 yrs

Ueychai Tantha-Obhas

TITLE
Senior EVP
AGE
70
TENURE
1.3 yrs

Banjong Chintanasiri

TITLE
Senior VP & Deputy CFO of Accounting
AGE
61
TENURE
3.3 yrs

Pisanu Vichiensanth

TITLE
Senior EVP
AGE
63
TENURE
3.3 yrs

Namfon Aungsutornrungsi

TITLE
Head of Investor Relations Department
TENURE
6.1 yrs

Sitra Horsinchai

TITLE
Legal Officer

Suporn Denpaisarn

TITLE
Vice President of Marketing & Non-Alcoholic Beverage Business Group
Board of Directors Tenure

Average tenure and age of the Thai Beverage board of directors in years:

16.3
Average Tenure
73.5
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.
Board of Directors

Charoen Sirivadhanabhakdi

TITLE
Executive Chairman
AGE
75
TENURE
17.1 yrs

Thapana Sirivadhanabhakdi

TITLE
President
AGE
44
TENURE
16.3 yrs

Khunying Wanna Sirivadhanabhakdi

TITLE
1st Executive Vice Chairman
AGE
76
TENURE
17.1 yrs

Sithichai Chaikriangkrai

TITLE
Group CFO
AGE
65
TENURE
16.3 yrs

Ueychai Tantha-Obhas

TITLE
Senior EVP
AGE
70
TENURE
14.6 yrs

Pisanu Vichiensanth

TITLE
Senior EVP
AGE
63
TENURE
16.3 yrs

Prasit Kovilaikool

TITLE
Lead Independent Director
COMPENSATION
฿286K
AGE
75

Vivat Tejapaibul

TITLE
Director
COMPENSATION
฿66K
AGE
73
TENURE
16.3 yrs

Pornchai Matangkasombut

TITLE
Independent Director
COMPENSATION
฿66K
AGE
78
TENURE
13.9 yrs

Tat Pun Ng

TITLE
Independent Director
COMPENSATION
฿114K
AGE
74
TENURE
13.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
24. Sep 19 Sell Capital Research and Management Company Company 20. Sep 19 20. Sep 19 -22,694,500 €0.59 €-13,485,726
14. May 19 Buy Ueychai Tantha-Obhas Individual 13. May 19 13. May 19 80,000 €0.50 €39,758
X
Management checks
We assess Thai Beverage's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Thai Beverage has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Thai Beverage Public Company Limited, together with its subsidiaries, produces and distributes alcoholic and non-alcoholic beverages, and food products in Thailand, Vietnam, and internationally. The company operates through Spirits, Beer, Non-Alcoholic Beverages, and Food segments. It offers liquor, beer, malt, and yeast products; spirits, including brown spirits, white spirits, herbs, and other products; and non-alcoholic beverages comprising drinking and soda water, electrolyte beverages, energy drinks, green and herbal tea, ready-to-drink coffee, carbonated soft drinks, isotonics, soya drinks, Asian and sparkling drinks, coconut water, cordials, pasteurized milk, UHT milk, sterilized milk, yoghurt, canned milk, pasteurized juice, ready-to-drink juice, ice cream, and cereal bars. The company also provides chilled and frozen food products, and snack products, as well as canned food products; and fertilizers and feeds, bricks, and oak barrels. In addition, it is involved in the trading of molasses; provision of transportation and distribution, advertising and marketing, consultancy, asset and brands management, public cold storage, and human resources and organization development services; operation of Japanese restaurants, bakeries, and social enterprise; and production and distribution of biogas. Further, the company is involved in the trading of bottles and supplies; wholesale and distribution of beverages; and production of plastic packaging and related businesses. Additionally, it engages in asset management activities; development and investment in properties; mechanical equipment manufacturing; warehousing business; trading of chemical and packaging materials; manufacture of equipment used in food manufacturing; and installation and maintenance of machinery system and equipment. Thai Beverage Public Company Limited was founded in 2003 and is based in Bangkok, Thailand.

Details
Name: Thai Beverage Public Company Limited
T6W
Exchange: DB
Founded: 2003
SGD13,305,849,408
25,115,709,648
Website: http://www.thaibev.com
Address: Thai Beverage Public Company Limited
14 Vibhavadi Rangsit Road,
Chomphon Sub-District,
Bangkok,
10900,
Thailand
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX Y92 Ordinary Shares Singapore Exchange SG SGD 30. May 2006
OTCPK TBVP.F Ordinary Shares Pink Sheets LLC US USD 30. May 2006
DB T6W Ordinary Shares Deutsche Boerse AG DE EUR 30. May 2006
OTCPK TBVP.Y UNSPONSORED ADR Pink Sheets LLC US USD 11. Nov 2008
Number of employees
Current staff
Staff numbers
0
Thai Beverage employees.
Industry
Distillers and Vintners
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/02/27 21:26
End of day share price update: 2020/02/27 00:00
Last estimates confirmation: 2020/02/24
Last earnings filing: 2020/02/14
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/09/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.