13.70
+3.01%
Close of 9 Nov 2026, in THB
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At a glance
Figures in THB, from our data supplier.
Revenue
THB 38.95bn
FY2019FY2025
Net income
THB 1.46bn
FY2019FY2025
Free cash flow
−THB 4.90bn
FY2019FY2025
Shareholders' equity
THB 7.34bn
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | THB 38.95bn | THB 33.15bn | THB 29.58bn | THB 29.58bn | THB 22.26bn | THB 19.43bn | THB 17.24bn |
| Gross profit | THB 3.73bn | THB 3.67bn | THB 2.55bn | THB 2.52bn | THB 1.98bn | THB 2.12bn | THB 1.63bn |
| Operating income | THB 1.58bn | THB 1.81bn | THB 1.31bn | THB 1.09bn | THB 890.2m | THB 1.11bn | THB 559.2m |
| Net income | THB 1.46bn | THB 1.13bn | THB 850.0m | THB 707.9m | THB 586.1m | THB 737.6m | THB 736.8m |
| Diluted earnings per share | 1.09 | 0.85 | 0.64 | 0.53 | 1.75 | 0.74 | 2.21 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | THB 24.29bn | THB 16.67bn | THB 13.41bn | THB 10.81bn | THB 10.05bn | THB 8.87bn | THB 8.05bn |
| Cash and short-term investments | THB 315.4m | THB 574.8m | THB 560.3m | THB 418.6m | THB 513.9m | THB 328.0m | THB 285.6m |
| Total liabilities | THB 16.95bn | THB 10.27bn | THB 7.73bn | THB 5.88bn | THB 7.64bn | THB 6.69bn | THB 6.60bn |
| Debt | THB 13.95bn | THB 8.19bn | THB 5.62bn | THB 4.07bn | THB 5.24bn | THB 5.04bn | THB 3.71bn |
| Shareholders' equity | THB 7.34bn | THB 6.40bn | THB 5.68bn | THB 4.93bn | THB 2.40bn | THB 2.19bn | THB 1.45bn |
| Shares outstanding | 1,336m | 1,334m | 1,334m | 1,334m | 334m | 1,000m | 334m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −THB 4.74bn | −THB 1.33bn | −THB 852.6m | THB 16.8m | THB 876.0m | THB 268.6m | — |
| Capital spending | −THB 162.1m | −THB 124.9m | −THB 122.6m | −THB 94.7m | −THB 70.7m | −THB 42.8m | — |
| Free cash flow | −THB 4.90bn | −THB 1.45bn | −THB 975.3m | −THB 77.9m | THB 805.3m | THB 225.7m | — |
| Dividends paid | −THB 560.3m | −THB 413.5m | −THB 106.7m | −THB 1.93bn | −THB 157.5m | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | THB 13.57bn | THB 15.44bn | THB 11.62bn | THB 10.30bn | THB 8.83bn | THB 8.69bn | THB 9.59bn | THB 7.88bn |
| Gross profit | THB 673.1m | THB 1.29bn | THB 1.12bn | THB 1.06bn | THB 1.12bn | THB 1.08bn | THB 969.1m | THB 826.6m |
| Operating income | THB 114.5m | THB 710.9m | THB 489.8m | THB 530.9m | THB 630.5m | THB 524.6m | THB 494.9m | THB 359.7m |
| Net income | THB 228.4m | THB 700.1m | THB 438.2m | THB 261.5m | THB 362.5m | THB 398.4m | THB 310.5m | THB 204.9m |
| Diluted earnings per share | 0.17 | 0.52 | 0.33 | 0.20 | 0.27 | 0.30 | 0.23 | 0.15 |
| Cash from operations | −THB 2.40bn | THB 156.0m | −THB 1.47bn | −THB 505.0m | −THB 1.88bn | −THB 482.0m | −THB 11.0m | THB 100.0m |
| Capital spending | −THB 25.0m | −THB 48.0m | −THB 59.0m | −THB 50.0m | −THB 37.0m | −THB 37.0m | −THB 25.0m | −THB 38.0m |
| Free cash flow | −THB 2.43bn | THB 108.0m | −THB 1.53bn | −THB 555.0m | −THB 1.92bn | −THB 519.0m | −THB 36.0m | THB 62.0m |
| Total assets | THB 28.77bn | THB 25.02bn | THB 24.29bn | THB 21.15bn | THB 20.12bn | THB 17.82bn | THB 16.67bn | THB 15.28bn |
| Cash and short-term investments | THB 549.3m | THB 262.6m | THB 315.4m | THB 244.9m | THB 166.3m | THB 183.8m | THB 574.8m | THB 165.2m |
| Debt | THB 11.04bn | THB 12.88bn | THB 14.34bn | THB 10.86bn | THB 9.95bn | THB 8.15bn | THB 7.79bn | THB 7.12bn |
| Shareholders' equity | THB 7.54bn | THB 8.05bn | THB 7.34bn | THB 6.87bn | THB 6.60bn | THB 6.80bn | THB 6.40bn | THB 6.09bn |
Financial ratios
Data as of 28 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 9.6% | 11.1% | 8.6% | 8.5% | 8.9% | 10.9% |
| Operating margin | 4.1% | 5.5% | 4.4% | 3.7% | 4.0% | 5.7% |
| Net margin | 3.7% | 3.4% | 2.9% | 2.4% | 2.6% | 3.8% |
| Return on equity | 19.9% | 17.7% | 15.0% | 14.4% | 24.4% | 33.7% |
| Return on assets | 6.0% | 6.8% | 6.3% | 6.5% | 5.8% | 8.3% |
| Free cash flow yield | -25.6% | -6.7% | -4.1% | 0.6% | 21.2% | — |
| Revenue growth | 17.5% | 12.1% | -0.0% | 32.9% | 14.5% | — |
| Earnings growth | 28.7% | 33.5% | 20.1% | 20.8% | -20.5% | — |
| Current ratio | 1.80x | 1.74x | 1.98x | 2.57x | 1.40x | 2.49x |
| Debt to equity | 1.90x | 1.22x | 0.87x | 0.64x | 1.69x | 1.86x |
| Equity ratio | 30.2% | 38.4% | 42.3% | 45.6% | 23.9% | 24.6% |
| Interest coverage | 2.70x | 4.53x | 5.24x | 4.98x | 4.45x | 5.23x |
| Buybacks as a share of market value | -0.1% | 0.0% | 0.0% | -299.4% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 9.6% | 14.9% | — |
| Operating income | 13.2% | 7.3% | — |
| Net income | 27.3% | 14.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 10.3% | 9.5% | 9.6% | — |
| Operating margin | 4.7% | 4.4% | 4.5% | — |
| Net margin | 3.6% | 3.2% | 3.2% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | 13.3 | 17.2 | 24.2 | 33.0 |
| Price to sales | 0.5 | 0.6 | 0.7 | 0.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 30 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Paid in the year | 0.56 | 0.42 | 0.31 | 0.08 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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