THE RELATIONSHIP BETWEEN CASH FLOWS AND PROFITABILITY WITH STOCK VALUATION ASSESSMENT OF THE LISTED COMPANIES UNDER REAL ESTATE AND CONSTRUCTION CATEGORY ON THE STOCK EXCHANGE OF THAILAND

Abstract

The objectives were to study the relationship between cash flows and profitability with stock valuation assessment of the listed companies under real estate and construction category on the stock exchange of Thailand, this research is a complete information of 93 companies. Data were collected from Financial Report from 2017 to 2019 by using Multiple regression analysis at the statistically significant degree of 0.05. The results of the study show that the operating cash flow to total assets and return on assets (ROA), to positive correlation with market price to book value per share ratio, at the statistical significance of 0.05, and return on shareholders (ROE) to negative correlation with market price and book value per share, at the statistical significance of 0.05, and operating cash flows to common debt, there is a positive correlation between market price to cash flows per share ratio at the statistical significance of 0.05, and operating profit margin financial cost, Income tax, depreciation, and total income accounting expenses ratio (EBITDA) are negatives correlated with the market price to sales per share ratio at the statistical significance of 0.05,  and the operating cash flow to total shareholder no correlation with stock valuation at the statistical significance of 0.05. The results of this study suggest that for valuation assessment of stock should focus on operating cash flow to total assets, operating cash flows to common debt, Return on assets (ROA), Return on shareholders (ROE) and operating profit margin financial cost, Income tax, depreciation, and total income accounting expenses ratio (EBITDA)