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of 36
www.kks.co.th/kkicube
Growth 18 2556
www.kks.co.th
Growth Stock
2
3
2 SET
(Profit Margin)
( )
Investing
Growth
Stock
www.kks.co.th
Growth
3
Revenue Top line growth
EPS Growth bottom line growth
Dividend Growth
!!!!!
www.kks.co.th
Growth
4
Thomas Rowe Price , T. Rowe Price and
Associates, Inc., Growth
(Margin), ROA ROE ,
EPS
product
www.kks.co.th
5
(Current Ratio) = = 1.05
(Quick Ratio) = = 1.01
ADVANC
www.kks.co.th
6
(ROE) = =80.15%
= =40.69%
= = 24.65%
(ROA) = = 34.56%
ADVANC
www.kks.co.th
7
= = 0.57
= = 0.49
ADVANC
www.kks.co.th
8
ADVANC
= = 42.74
= = 1.32
www.kks.co.th
:ADVANC
9
Key Financials
For the Fiscal Period Ending 12 months
Dec-31-2009A
12 months
Dec-31-2010A
12 months
Dec-31-2011A
12 months
Dec-31-2012A
LTM
12 months
Jun-30-2013A
12 months
Dec-31-2013E
12 months
Dec-31-2014E
12 months
Dec-31-2015E
Currency THB THB THB THB THB THB THB THB
Total Revenue 102,451.8 111,339.2 126,437.2 141,568.3 145,408.3 149,584.0 161,937.3 173,717.5
Growth Over Prior Year (7.5%) 8.7% 13.6% 12.0% 8.7% 5.66% 8.26% 7.27%
Gross Profit 36,048.6 42,576.0 50,217.3 57,598.3 59,465.1 - - -
Margin % 35.2% 38.2% 39.7% 40.7% 40.9% - - -
EBITDA 46,079.5 51,855.3 56,701.8 61,586.0 62,598.1 66,208.6 77,115.3 88,024.6
Margin % 45.0% 46.6% 44.8% 43.5% 43.0% 44.3% 47.6% 50.7%
EBIT 26,272.7 33,009.0 39,234.5 46,194.2 47,164.1 - - -
Margin % 25.6% 29.6% 31.0% 32.6% 32.4% - - -
Earnings from Cont. Ops. 16,789.1 20,632.8 22,344.4 34,899.1 36,308.1 - - -
Margin % 16.4% 18.5% 17.7% 24.7% 25.0% - - -
Net Income 17,055.4 20,513.5 22,217.7 34,883.2 36,361.4 - - -
Margin % 16.6% 18.4% 17.6% 24.6% 25.0% - - -
Diluted EPS Excl. Extra Items 5.76 6.91 7.48 11.73 12.23 13.12 15.41 17.77
Growth Over Prior Year 3.9% 20.0% 8.2% 57.0% 32.4% 11.87% 17.43% 15.32%
www.kks.co.th
:ADVANC
10
Capital Structure Data
For the Fiscal Period Ending
Currency THB THB THB
Units Millions % of Total Millions % of Total Millions % of Total
Total Debt 22,005.8 35.8% 20,349.8 31.9% 20,176.0 29.7%
Total Common Equity 39,253.7 63.9% 43,353.2 67.9% 47,605.3 70.0%
Total Minority Interest 209.9 0.3% 188.7 0.3% 182.5 0.3%
Total Capital 61,469.4 100.0% 63,891.6 100.0% 67,963.7 100.0%
12 months Dec-31-2011 12 months Dec-31-2012 3 months Jun-30-2013
Ratios
For the Fiscal Period Ending 12 months
Dec-31-2008
12 months
Dec-31-2009
12 months
Dec-31-2010
12 months
Dec-31-2011
12 months
Dec-31-2012
LTM
12 months
Jun-30-2013
Profitability
Return on Assets % 13.6% 13.0% 18.6% 26.7% 30.8% 28.8%
Return on Capital % 16.2% 15.0% 22.1% 35.3% 46.1% 43.5%
Return on Equity % 22.1% 23.1% 36.5% 55.4% 84.1% 78.7%
Return on Common Equity % 22.2% 23.6% 36.5% 55.4% 84.5% 79.2%
Short Term Liquidity
Current Ratio 1.1x 2.0x 0.7x 1.1x 1.1x 1.1x
Quick Ratio 0.9x 1.9x 0.6x 0.9x 0.9x 0.9x
Cash from Ops. to Curr. Liab. 1.5x 2.5x 1.3x 1.6x 1.4x 1.3x
Avg. Days Sales Out. 24.8 21.7 20.0 20.1 21.1 19.7
Avg. Days Inventory Out. 7.2 6.1 4.7 5.3 5.5 5.8
Avg. Days Payable Out. 21.4 19.5 13.7 14.4 23.6 23.6
Avg. Cash Conversion Cycle 10.6 8.4 10.9 11.0 3.0 1.9
Long Term Solvency
Total Debt/Equity 50.1% 51.7% 88.3% 55.8% 46.7% 42.2%
Total Debt/Capital 33.4% 34.1% 46.9% 35.8% 31.9% 29.7%
LT Debt/Equity 40.5% 51.0% 49.7% 41.9% 27.3% 27.6%
LT Debt/Capital 27.0% 33.6% 26.4% 26.9% 18.6% 19.4%
Total Liabilities/Total Assets 42.7% 42.6% 57.7% 54.5% 56.9% 56.0%
www.kks.co.th
: ADVANC
11
Company Relative Credit Health Score
Overall Score Score
Above Average
Top
Top
Top
Financial Category
Operational
Solvency
Liquidity
List: Selected GICS Peers
LTM Period Ending:
Metric Company Group Mean*
Operational
Total Revenue 4 145,408.32 325,890.81
Total Equity 4 47,787.76 200,399.64
Return on Capital (%) 1 69.4 15.51
Recurring Earnings/Total Assets (%) 1 43.44 12.13
Net Working Capital/Revenue (x) 3 (0.09) (0.09)
Asset Turnover (x) 1 1.34 0.67
Intangible Assets/Revenue (x) 2 0.29 0.46
Net Working Capital/Total Assets (x) 4 (0.12) (0.05)
Payables/Receivables (x) 3 0.83 1.22
Management Rate of Return (%) 1 726.6 50.19
Gross Margin (%) 4 40.9 53.28
EBITDA Margin (%) 1 43.05 32.86
Jun-30-2013
Score
List: Selected GICS Peers
LTM Period Ending:
Metric Company Group Mean*
Solvency
FFO Interest Coverage (x) 1 49.02 17.89
EBITDA/Interest Exp. (x) 1 59.83 20.8
FFO to Total Debt (x) 2 2.54 1.2
Net Debt/EBITDA (x) N/A NM 1.81
Total Debt to Capital (%) 1 29.69 42.92
Total Debt/Total Liabilities (%) 4 33.2 53.45
Total Debt/Revenue (x) 1 0.14 0.67
Jun-30-2013
Score
List: Selected GICS Peers
LTM Period Ending:
Metric Company Group Mean*
Liquidity
(FFO + Cash) to Short Term Debt (x) 2 10.68 10.65
FFO to Gross Profit (x) 1 0.86 0.53
Basic Defense Interval (days) 3 119.52 136.8
Current Ratio (x) 3 1.07 1.12
Quick Ratio (x) 2 0.93 0.87
Jun-30-2013
Score
www.kks.co.th
: ADVANC
12
www.kks.co.th
Growth
13
4
BEC JAS MINT HMPRO
www.kks.co.th
BEC
14
www.kks.co.th
BEC
15
www.kks.co.th
BEC
16
www.kks.co.th
BEC
17
-50.00%
0.00%
50.00%
100.00%
150.00%
200.00%
BEC World Public Company Limited (SET:BEC)/SET Index - Share Pricing
BEC World Public Company Limited (SET:BEC)/SET Index - Share Pricing (Results Announcements)
www.kks.co.th
BEC
18
0.84x
0.00x
0.50x
1.00x
1.50x
2.00x
2.50x
3.00x
BEC World Public Company Limited (SET:BEC)/Index: WORK, MCOT, RS, NMG, 1 more - P/Diluted EPS Before Extra
BEC World Public Company Limited (SET:BEC)/Index: WORK, MCOT, RS, NMG, 1 more - P/Diluted EPS Before Extra
www.kks.co.th
JAS
19
Key Financials
For the Fiscal Period Ending 12 months
Dec-31-2009A
12 months
Dec-31-2010A
12 months
Dec-31-2011A
12 months
Dec-31-2012A
LTM
12 months
Jun-30-2013A
12 months
Dec-31-2013E
12 months
Dec-31-2014E
12 months
Dec-31-2015E
Currency THB THB THB THB THB THB THB THB
Total Revenue 8,370.9 9,688.7 9,497.9 10,369.5 10,935.4 12,195.8 13,750.9 15,245.3
Growth Over Prior Year 56.4% 15.7% (2.0%) 9.2% 14.4% 17.61% 12.75% 10.87%
Gross Profit 2,787.2 3,993.0 4,860.1 5,683.5 6,239.7 - - -
Margin % 33.3% 41.2% 51.2% 54.8% 57.1% - - -
EBITDA 1,871.0 2,674.2 4,035.1 4,647.1 5,255.5 6,274.4 7,210.7 8,548.7
Margin % 22.4% 27.6% 42.5% 44.8% 48.1% 51.4% 52.4% 56.1%
EBIT 1,205.9 1,635.9 2,184.2 2,931.7 3,458.5 - - -
Margin % 14.4% 16.9% 23.0% 28.3% 31.6% - - -
Earnings from Cont. Ops. 226.4 589.0 1,045.6 2,058.3 2,686.2 - - -
Margin % 2.7% 6.1% 11.0% 19.8% 24.6% - - -
Net Income 203.5 663.3 1,072.5 2,136.5 2,744.3 - - -
Margin % 2.4% 6.8% 11.3% 20.6% 25.1% - - -
Diluted EPS Excl. Extra Items 0.03 0.1 0.15 0.3 0.38 0.45 0.57 0.7
Growth Over Prior Year NM 202.6% 52.9% 101.3% 81.0% 48.41% 27.38% 23.43%
www.kks.co.th
JAS
20
Capital Structure Data
For the Fiscal Period Ending
Currency THB THB THB
Units Millions % of Total Millions % of Total Millions % of Total
Total Debt 4,483.3 35.6% 4,360.8 31.0% 4,131.9 27.5%
Total Common Equity 7,114.2 56.5% 8,691.6 61.8% 9,879.9 65.7%
Total Minority Interest 985.4 7.8% 1,019.7 7.2% 1,033.9 6.9%
Total Capital 12,582.8 100.0% 14,072.2 100.0% 15,045.7 100.0%
12 months Dec-31-2011 12 months Dec-31-2012 3 months Jun-30-2013
Ratios
For the Fiscal Period Ending 12 months
Dec-31-2008
12 months
Dec-31-2009
12 months
Dec-31-2010
12 months
Dec-31-2011
12 months
Dec-31-2012
LTM
12 months
Jun-30-2013
Profitability
Return on Assets % 5.3% 5.3% 5.8% 7.0% 9.4% 11.1%
Return on Capital % 6.7% 7.6% 9.4% 11.5% 13.7% 15.3%
Return on Equity % (16.1%) 3.6% 8.4% 13.5% 23.1% 27.5%
Return on Common Equity % (19.2%) 3.7% 10.7% 15.7% 27.0% 31.5%
Short Term Liquidity
Current Ratio 1.2x 1.1x 1.0x 0.8x 1.2x 1.3x
Quick Ratio 1.1x 1.0x 0.9x 0.7x 1.1x 1.2x
Cash from Ops. to Curr. Liab. 0.3x 0.2x 0.4x 0.3x 0.8x 1.0x
Avg. Days Sales Out. 167.6 155.5 165.8 172.6 154.6 131.5
Avg. Days Inventory Out. 10.8 11.3 16.6 14.3 4.7 5.0
Avg. Days Payable Out. 167.7 137.8 174.6 229.4 186.3 158.5
Avg. Cash Conversion Cycle 10.7 28.9 7.7 (42.6) (27.0) (22.0)
Long Term Solvency
Total Debt/Equity 56.3% 59.8% 51.6% 55.4% 44.9% 37.9%
Total Debt/Capital 36.0% 37.4% 34.0% 35.6% 31.0% 27.5%
LT Debt/Equity 21.6% 19.7% 27.4% 16.3% 33.3% 25.2%
LT Debt/Capital 13.8% 12.3% 18.1% 10.5% 23.0% 18.3%
Total Liabilities/Total Assets 51.7% 58.2% 61.8% 58.6% 49.9% 44.5%
www.kks.co.th
JAS
21
Company Relative Credit Health Score
Overall Score Score
Top
Above Average
Top
Top
Financial Category
Operational
Solvency
Liquidity
List: Selected GICS Peers
LTM Period Ending:
Metric Company Group Mean*
Operational
Total Revenue 3 10,935.36 14,122.61
Total Equity 3 10,913.8 11,295.52
Return on Capital (%) 1 22.99 7.5
Recurring Earnings/Total Assets (%) 1 17.58 8.53
Net Working Capital/Revenue (x) 2 0.02 0
Asset Turnover (x) 3 0.56 0.69
Intangible Assets/Revenue (x) 1 0 0.36
Net Working Capital/Total Assets (x) 2 0.01 0
Payables/Receivables (x) 3 0.55 1.06
Management Rate of Return (%) 2 30.69 21.86
Gross Margin (%) 2 57.06 47.39
EBITDA Margin (%) 1 48.06 24.73
Jun-30-2013
Score
List: Selected GICS Peers
LTM Period Ending:
Metric Company Group Mean*
Solvency
FFO Interest Coverage (x) 3 15.24 16.55
EBITDA/Interest Exp. (x) 3 14.75 24.71
FFO to Total Debt (x) 3 1.31 7.99
Net Debt/EBITDA (x) 1 0.22 3.3
Total Debt to Capital (%) 2 27.46 47.83
Total Debt/Total Liabilities (%) 2 47.15 46.52
Total Debt/Revenue (x) 2 0.38 0.66
Jun-30-2013
Score
List: Selected GICS Peers
LTM Period Ending:
Metric Company Group Mean*
Liquidity
(FFO + Cash) to Short Term Debt (x) 3 6.09 21.8
FFO to Gross Profit (x) 2 0.87 0.71
Basic Defense Interval (days) 1 293.1 149.94
Current Ratio (x) 2 1.33 1.3
Quick Ratio (x) 2 1.22 1.06
Jun-30-2013
Score
www.kks.co.th
JAS
22
www.kks.co.th
JAS
23
www.kks.co.th
HMPRO
24
Key Financials
For the Fiscal Period Ending 12 months
Dec-31-2009A
12 months
Dec-31-2010A
12 months
Dec-31-2011A
12 months
Dec-31-2012A
LTM
12 months
Jun-30-2013A
12 months
Dec-31-2013E
12 months
Dec-31-2014E
12 months
Dec-31-2015E
Currency THB THB THB THB THB THB THB THB
Total Revenue 21,799.1 25,914.9 30,502.4 36,969.3 39,910.0 42,586.1 54,262.2 68,063.1
Growth Over Prior Year 10.0% 18.9% 17.7% 21.2% 19.3% 23.29% 27.42% 25.43%
Gross Profit 6,404.0 7,862.7 9,428.5 11,409.9 12,451.6 - - -
Margin % 29.4% 30.3% 30.9% 30.9% 31.2% - - -
EBITDA 2,546.3 3,313.7 4,153.8 4,902.8 5,355.0 6,333.5 7,672.5 9,796.9
Margin % 11.7% 12.8% 13.6% 13.3% 13.4% 14.9% 14.1% 14.4%
EBIT 1,741.7 2,453.2 3,122.9 3,653.5 3,936.8 - - -
Margin % 8.0% 9.5% 10.2% 9.9% 9.9% - - -
Earnings from Cont. Ops. 1,130.9 1,638.4 2,005.4 2,679.5 2,900.0 - - -
Margin % 5.2% 6.3% 6.6% 7.2% 7.3% - - -
Net Income 1,130.9 1,638.4 2,005.4 2,679.5 2,900.0 - - -
Margin % 5.2% 6.3% 6.6% 7.2% 7.3% - - -
Diluted EPS Excl. Extra Items 0.14 0.2 0.24 0.33 0.35 0.4 0.48 0.61
Growth Over Prior Year 16.7% 43.6% 20.0% 35.7% 22.2% 22.39% 20.96% 27.24%
www.kks.co.th
HMPRO
25
Capital Structure Data
For the Fiscal Period Ending
Currency THB THB THB
Units Millions % of Total Millions % of Total Millions % of Total
Total Debt 3,012.1 27.1% 5,522.8 35.9% 5,969.4 34.7%
Total Common Equity 8,121.3 72.9% 9,859.9 64.1% 11,222.8 65.3%
Total Minority Interest 0.0 0.0% 0.0 0.0% 0.0 0.0%
Total Capital 11,133.4 100.0% 15,382.7 100.0% 17,192.2 100.0%
12 months Dec-31-2011 12 months Dec-31-2012 3 months Jun-30-2013
Ratios
For the Fiscal Period Ending 12 months
Dec-31-2008
12 months
Dec-31-2009
12 months
Dec-31-2010
12 months
Dec-31-2011
12 months
Dec-31-2012
LTM
12 months
Jun-30-2013
Profitability
Return on Assets % 7.2% 8.0% 10.1% 10.5% 9.8% 9.7%
Return on Capital % 12.5% 14.5% 18.7% 19.4% 17.2% 17.1%
Return on Equity % 20.7% 22.2% 28.6% 27.9% 29.8% 29.4%
Return on Common Equity % 20.7% 22.2% 28.6% 27.9% 29.8% 29.4%
Short Term Liquidity
Current Ratio 0.6x 0.7x 0.8x 0.8x 0.7x 0.6x
Quick Ratio 0.2x 0.2x 0.3x 0.3x 0.2x 0.1x
Cash from Ops. to Curr. Liab. 0.4x 0.4x 0.3x 0.4x 0.3x 0.4x
Avg. Days Sales Out. 2.7 2.4 2.3 2.4 2.7 2.9
Avg. Days Inventory Out. 68.2 66.8 66.9 70.1 69.7 72.7
Avg. Days Payable Out. 88.2 92.7 88.6 91.3 87.2 95.3
Avg. Cash Conversion Cycle (17.3) (23.5) (19.4) (18.8) (14.8) (19.6)
Long Term Solvency
Total Debt/Equity 53.8% 41.8% 43.9% 37.1% 56.0% 53.2%
Total Debt/Capital 35.0% 29.5% 30.5% 27.1% 35.9% 34.7%
LT Debt/Equity 31.7% 29.4% 32.2% 33.3% 35.7% 37.1%
LT Debt/Capital 20.6% 20.7% 22.3% 24.3% 22.9% 24.2%
Total Liabilities/Total Assets 62.9% 62.4% 62.4% 60.7% 61.8% 61.0%
www.kks.co.th
HMPRO
26
Company Relative Credit Health Score
Overall Score Score
Top
Top
Below Average
Below Average
Financial Category
Operational
Solvency
Liquidity
List: Selected GICS Peers
LTM Period Ending:
Metric Company Group Mean*
Solvency
FFO Interest Coverage (x) 2 25.99 16.03
EBITDA/Interest Exp. (x) 3 28.29 28.52
FFO to Total Debt (x) 2 0.82 (2.38)
Net Debt/EBITDA (x) 1 1.02 3.16
Total Debt to Capital (%) 2 34.72 40.73
Total Debt/Total Liabilities (%) 3 34.05 39.93
Total Debt/Revenue (x) 2 0.15 0.2
Jun-30-2013
Score
List: Selected GICS Peers
LTM Period Ending:
Metric Company Group Mean*
Operational
Total Revenue 3 39,909.95 176,573.33
Total Equity 3 11,222.76 48,087.75
Return on Capital (%) 1 22.9 11.67
Recurring Earnings/Total Assets (%) 1 13.69 9.14
Net Working Capital/Revenue (x) 4 (0.1) 0.09
Asset Turnover (x) 3 1.39 1.54
Intangible Assets/Revenue (x) 2 0.04 0.06
Net Working Capital/Total Assets (x) 4 (0.13) 0.12
Payables/Receivables (x) 2 21.0 14.58
Management Rate of Return (%) 2 27.25 23.0
Gross Margin (%) 3 31.2 33.24
EBITDA Margin (%) 1 13.42 7.04
Jun-30-2013
Score
List: Selected GICS Peers
LTM Period Ending:
Metric Company Group Mean*
Liquidity
(FFO + Cash) to Short Term Debt (x) 3 3.0 5.05
FFO to Gross Profit (x) 1 0.39 0.07
Basic Defense Interval (days) 4 16.78 35.18
Current Ratio (x) 4 0.58 1.42
Quick Ratio (x) 4 0.14 0.44
Jun-30-2013
Score
www.kks.co.th
HMPRO
27
www.kks.co.th
HMPRO
28
www.kks.co.th
MINT
29
Key Financials
For the Fiscal Period Ending 12 months
Dec-31-2009A
12 months
Dec-31-2010A
12 months
Dec-31-2011A
12 months
Dec-31-2012A
LTM
Press Release
12 months
Jun-30-2013A
12 months
Dec-31-2013E
12 months
Dec-31-2014E
12 months
Dec-31-2015E
Currency THB THB THB THB THB THB THB THB
Total Revenue 16,943.0 18,733.3 27,929.4 32,242.5 33,815.6 35,541.4 39,266.1 43,891.1
Growth Over Prior Year 3.3% 10.6% 49.1% 15.4% 8.5% 9.20% 10.48% 11.78%
Gross Profit 10,330.3 11,029.2 16,662.1 18,452.3 19,769.3 - - -
Margin % 61.0% 58.9% 59.7% 57.2% 58.5% - - -
EBITDA 3,617.1 3,448.0 5,854.7 6,373.7 6,752.8 7,495.6 8,587.4 9,398.2
Margin % 21.3% 18.4% 21.0% 19.8% 20.0% 21.1% 21.9% 21.4%
EBIT 2,046.7 1,841.5 3,956.9 4,276.4 4,534.5 - - -
Margin % 12.1% 9.8% 14.2% 13.3% 13.4% - - -
Earnings from Cont. Ops. 1,495.8 1,312.2 2,926.8 3,410.1 3,734.5 - - -
Margin % 8.8% 7.0% 10.5% 10.6% 11.0% - - -
Net Income 1,400.3 1,236.5 2,880.1 3,408.6 3,701.4 - - -
Margin % 8.3% 6.6% 10.3% 10.6% 10.9% - - -
Diluted EPS Excl. Extra Items 0.39 0.34 0.8 0.92 0.97 1.03 1.19 1.41
Growth Over Prior Year (23.8%) (11.6%) 132.8% 14.9% 3.5% 12.62% 15.91% 18.41%
www.kks.co.th
MINT
30
Capital Structure Data
For the Fiscal Period Ending
Currency THB THB THB
Units Millions % of Total Millions % of Total Millions % of Total
Total Debt 19,824.1 57.0% 24,162.8 55.5% 23,801.4 50.1%
Total Common Equity 14,367.4 41.3% 18,133.4 41.7% 22,400.1 47.2%
Total Minority Interest 567.2 1.6% 1,213.1 2.8% 1,268.7 2.7%
Total Capital 34,758.6 100.0% 43,509.3 100.0% 47,470.2 100.0%
12 months Dec-31-2011 12 months Dec-31-2012 3 months Mar-31-2013
Ratios
For the Fiscal Period Ending 12 months
Dec-31-2008
12 months
Dec-31-2009
12 months
Dec-31-2010
12 months
Dec-31-2011
12 months
Dec-31-2012
LTM
Press Release
12 months
Jun-30-2013
Profitability
Return on Assets % 7.6% 4.8% 3.8% 6.6% 5.8% 5.7%
Return on Capital % 8.9% 5.7% 4.5% 7.9% 6.8% 6.7%
Return on Equity % 17.9% 12.3% 10.2% 20.4% 19.9% 18.7%
Return on Common Equity % 18.3% 12.3% 10.3% 21.1% 21.0% 19.5%
Short Term Liquidity
Current Ratio 0.9x 0.7x 1.1x 0.9x 1.1x 1.3x
Quick Ratio 0.4x 0.4x 0.4x 0.4x 0.7x 1.0x
Cash from Ops. to Curr. Liab. 0.7x 0.4x 0.4x 0.4x 0.5x 0.5x
Avg. Days Sales Out. 15.8 17.8 20.9 17.3 17.7 26.1
Avg. Days Inventory Out. 63.6 61.5 109.2 104.2 76.0 68.3
Avg. Days Payable Out. 85.2 72.9 44.6 42.9 44.5 75.7
Avg. Cash Conversion Cycle (5.8) 6.4 85.5 78.5 49.1 18.8
Long Term Solvency
Total Debt/Equity 74.0% 95.7% 104.4% 132.7% 124.9% 98.9%
Total Debt/Capital 42.5% 48.9% 51.1% 57.0% 55.5% 49.7%
LT Debt/Equity 60.6% 75.0% 88.9% 109.6% 108.0% 85.0%
LT Debt/Capital 34.8% 38.3% 43.5% 47.1% 48.0% 42.7%
Total Liabilities/Total Assets 50.9% 57.4% 58.1% 64.1% 62.0% 57.2%
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MINT
31
www.kks.co.th
MINT
32
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PEG
33
PEG Ratio : P/E (Expected EPS Growth)
PEG
www.kks.co.th
PEG
34
BEC
JAS
MINT
HMPRO
0x 0.4x 0.8x 1.2x 1.6x 2.0x
1.63x
0.53x
1.21x
1.06x
PEG consensus earning growth 2014F
: Capital IQ
www.kks.co.th
35
, ,
Pitfalls
To
Growth
Optimising Opportunities
www.kks.co.th
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