True Corporation Valuation Multiples

True Corporation Overview

About True Corporation

True Corp PCL is a triple-play telecommunications company. It operates through three business segments: Mobile, Pay TV, Broadband internet and others. The majority of revenue is derived from Mobile segment, the company's mobile services product offering. The majority of the company's customer base in its mobile services division is considered prepaid. Broadband internet and other generated revenue internet services are recognized when rendering the service to subscribers. Pay TV generates revenues from monthly subscription fees recognized in the month in which the service is provided, commencing from the completion of installation. It operates in a single geographical area, which is Thailand.

Founded

1990

HQ

Employees

7.4K

Website

true.th

Sectors

Telecom Service Providers

Financials (LTM)

Revenue: $6B

EBITDA: $3B

EV

$27B

Valuation Multiples

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True Corporation Financials

True Corporation reported last 12-month revenue of $6B and EBITDA of $3B.

In the same LTM period, True Corporation generated $2B in gross profit, $3B in EBITDA, and $400M in net income.

True Corporation P&L

In the most recent fiscal year, True Corporation reported revenue of $6B and EBITDA of $3B.

True Corporation expects next 12-month revenue of XXX and NTM EBITDA of XXX

True Corporation Stock Performance

True Corporation has current market cap of $15B, and enterprise value of $27B.

True Corporation's stock price is $0.42.

True Corporation Valuation Multiples

True Corporation trades at 4.4x EV/Revenue multiple, and 8.0x EV/EBITDA.

True Corporation Financial Valuation Multiples

As of March 28, 2026, True Corporation has market cap of $15B and EV of $27B.

Equity research analysts estimate True Corporation's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

True Corporation has a P/E ratio of 36.7x.

True Corporation Margins & Growth Rates

True Corporation's revenue in the last 12 month declined by (5%).

True Corporation's revenue per employee in the last FY averaged $0.8M.

True Corporation's rule of 40 is 50% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

True Corporation's rule of X is 43% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

True Corporation Public Comps

See public comps and valuation multiples for other Telecom Service Providers comps.

True Corporation M&A Activity

True Corporation acquired XXX companies to date.

Last acquisition by True Corporation was on XXXXXXXX, XXXXX. True Corporation acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

True Corporation Investment Activity

True Corporation invested in XXX companies to date.

True Corporation made its latest investment on XXXXXXXX, XXXXX. True Corporation invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).