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2016 2015 2014

Current Ratio 2.27% 1.51% 2.19%


Cash Ratio 0.89% 0.70% 0.45%
Accounts Payable Period 68.09 56.09 68.89
Total Liabilities / Total Assets 52.13% 55.76% 55.48%
Total Shareholders Equity/ Total Assets 34% 39.95% 39.77%
EPS 13.9 13.9 13.5
WACC 8.43% 8.65% 7.78%
* BETA 0.83 0.83 0.83
* Risk Free Rate of Return 2.32% 2.32% 2.32%
Return on Equity/CAPM 11.77% 11.61% 10.88%
Return on Capital Employed 6.18% 5.93% 5.49%
P/V Ratio 54% 48% 56%
Operating Profit Margin 21.58% 18.84% 18%
Gross Profit Margin 43.17% 38.22% 39.55%
Total Debt/ Equity 75.50% 74.93% 87.09%
Total Debt/ Total Capital 43.02% 42.83% 46.55%
* Return on Market Portfolio 11.13% 11.13% 11.13%
Risk Premium 11.39% 11.19% 10.31%
Cost of Debt 4.76% 5.71% 5.17%

We are assuming the beta and Risk free rate of return and return on Market portfolio to be constant

WACC= ke/(Ve+Vd)+kd(1-t)/(Ve+Vd)
ke= Cost of Equity
kd= Cost of Debt
Ve= Value of Equity
Vd= Value of Debt
t= Tax
2022 2021 2020
Current Ratio
Cash Ratio
Accounts Payable Groth
Total Liabilities / Total Assets
Total Shareholders Equity/ Total Assets
EPS
WACC
BETA
Risk Free Rate of Return
Return on Equity
Return on Capital Employed
P/B Ratio
Operating Margin
Gross Profit Margin
2013 2012 Sales
2.47% 2.36% Variable Cost
0.56% 0.44% Contribution
72.49 76.99
57.94% 50.83%
37.37% 45.36%
11.35 15
20.79% 10.47%
0.83 0.83 Ideal=1 Gross Profit
2.32% 2.32% Gross Profit Margin
28.67% 13.08% Operating Profit
15.14% 6.78% Operating Profit Margin
58% 54% Contribution/Sales
18.87% 21.32% Operating Profit/Sales
40.85% 41.67% Gross Profit/Sales
57.10% 43.37% Max=50%
36.35% 30.25% Max=33.33% vd
11.13% 11.13% ve
31.75% 12.96% vd+ve
8.34% 5.35% Interest Expense/ Absolut
Cost of Debt
portfolio to be constant Tax Rate
Absolute cost of Equity
WACC

ROE
Rf
Beta
Rp

Long term Debt


Captial Leases
Total Long term Debt
Total Equity
Total Debt/ Equity
Total Capital
Total Debt/ Total Capital
2019 2018
2016 2015 2014 2013 2012
10416 11550 9114 9272 8097
4780 5972 3996 3875 3732
5636 5578 5118 5397 4365

4497 4414 3605 3788 3374


43.17% 38.22% 39.55% 40.85% 41.67%
2248 2176 1679 1750 1726
21.58% 18.84% 18.42% 18.87% 21.32%

14,124 12,137 13,131 8,092 6,284 9,354


18,707 16,198 15,077 14,172 14,489 4,771
32,831 28,335 28,208 22,264 20,773
672 693 679 675 336
4.76% 5.71% 5.17% 8.34% 5.35%
15.99% 17.52% 18.40% 16.31% 16.86% Thailand Corp. Tax Rate
2,202 1,881 1,640 4,063 1,895
8.43% 8.65% 7.78% 20.79% 10.47%

11.77% 11.61% 10.88% 28.67% 13.08%


2.32% 2.32% 2.32% 2.32% 2.32%
0.83 0.83 0.83 0.83 0.83
11.39% 11.19% 10.31% 31.75% 12.96%

9093 7094 8093 8092 6093


5031 5043 5038 0 191
14124 12137 13131 8092 6284
18707 16198 15077 14172 14489
75.50% 74.93% 87.09% 57.10% 43.37%
32831 28335 28208 22264 20773
43.02% 42.83% 46.55% 36.35% 30.25%
Value of fund req for 50% Debt/Equity