I 
International Research Corporation PCL IRCP.BK · THB
Information Technology · SET · 🇹🇭 Thailand
0.29
0.00%
Close of 9 Nov 2026, in THB
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At a glance
Figures in THB, from our data supplier.
Revenue
THB 720.6m
FY2016FY2025
Net income
−THB 204.5m
FY2016FY2025
Free cash flow
−THB 43.2m
FY2016FY2025
Shareholders' equity
THB 425.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | THB 720.6m | THB 924.9m | THB 1.10bn | THB 1.28bn | THB 729.6m | THB 843.3m | THB 921.4m | THB 1.06bn | THB 1.27bn | THB 1.12bn |
| Research and development | — | THB 133.3m | THB 382.2m | THB 561.1m | THB 164.8m | THB 301.3m | THB 302.5m | THB 390.7m | — | — |
| Operating income | −THB 185.2m | THB 37.4m | THB 55.6m | THB 89.0m | THB 32.2m | THB 64.4m | −THB 61.6m | −THB 32.8m | THB 25.7m | −THB 76.5m |
| Net income | −THB 204.5m | THB 20.1m | THB 29.0m | THB 49.1m | THB 18.6m | THB 24.8m | −THB 104.6m | −THB 51.5m | −THB 3.0m | −THB 100.8m |
| Diluted earnings per share | -0.33 | 0.03 | 0.05 | 0.09 | 0.04 | 0.08 | -0.32 | -0.16 | -0.01 | -0.31 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | THB 1.02bn | THB 1.11bn | THB 1.22bn | THB 1.04bn | THB 805.0m | THB 953.1m | THB 1.08bn | THB 1.20bn | THB 1.02bn | THB 1.05bn |
| Cash and short-term investments | THB 61.0m | THB 178.6m | THB 136.5m | THB 175.2m | THB 127.5m | THB 43.6m | THB 64.5m | THB 215.1m | THB 60.7m | THB 222.8m |
| Total liabilities | THB 586.8m | THB 503.2m | THB 617.1m | THB 505.5m | THB 487.1m | THB 784.3m | THB 887.9m | THB 911.5m | THB 665.1m | THB 687.3m |
| Debt | THB 131.8m | THB 149.3m | THB 185.0m | THB 161.3m | THB 340.8m | THB 497.7m | THB 529.0m | THB 580.1m | THB 266.6m | THB 323.3m |
| Shareholders' equity | THB 425.0m | THB 628.8m | THB 627.3m | THB 552.8m | THB 338.6m | THB 187.6m | THB 211.1m | THB 306.8m | THB 359.2m | THB 363.0m |
| Shares outstanding | 623m | 623m | 616m | 535m | 431m | 324m | 324m | 324m | 324m | 324m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −THB 33.7m | THB 105.0m | −THB 116.1m | THB 119.9m | THB 123.1m | THB 58.7m | −THB 65.4m | −THB 116.9m | −THB 53.5m | THB 11.8m |
| Capital spending | −THB 9.5m | −THB 5.7m | −THB 7.4m | −THB 11.5m | −THB 3.9m | −THB 5.5m | −THB 15.3m | −THB 9.2m | −THB 8.9m | −THB 13.3m |
| Free cash flow | −THB 43.2m | THB 99.3m | −THB 123.5m | THB 108.5m | THB 119.1m | THB 53.2m | −THB 80.8m | −THB 126.1m | −THB 62.4m | −THB 1.5m |
| Dividends paid | −THB 1.3m | −THB 16.4m | −THB 16.4m | −THB 709,137 | −THB 1.7m | −THB 1.7m | −THB 1.7m | −THB 315 | −THB 967 | −THB 12.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | THB 266.4m | THB 208.3m | THB 205.7m | THB 107.3m | THB 197.1m | THB 210.4m | THB 188.4m | THB 240.2m |
| Operating income | −THB 4.3m | THB 5.5m | −THB 5.0m | −THB 171.2m | −THB 6.6m | −THB 3.3m | −THB 2.6m | THB 19.4m |
| Net income | −THB 4.2m | THB 3.3m | −THB 7.8m | −THB 177.3m | −THB 11.9m | −THB 7.5m | −THB 1.9m | THB 12.3m |
| Diluted earnings per share | -0.01 | 0.01 | -0.01 | -0.28 | -0.02 | -0.01 | -0.00 | 0.02 |
| Cash from operations | −THB 78.0m | THB 30.0m | −THB 32.0m | THB 33.0m | −THB 27.0m | −THB 2.0m | THB 56.0m | THB 57.0m |
| Capital spending | — | — | −THB 2.0m | −THB 3.0m | −THB 2.0m | −THB 1.0m | −THB 1.0m | −THB 1.0m |
| Free cash flow | — | — | −THB 34.0m | THB 30.0m | −THB 29.0m | −THB 3.0m | THB 55.0m | THB 56.0m |
| Total assets | THB 1.07bn | THB 1.02bn | THB 1.02bn | THB 1.02bn | THB 1.10bn | THB 1.09bn | THB 1.11bn | THB 1.21bn |
| Cash and short-term investments | THB 78.1m | THB 68.1m | THB 61.0m | THB 48.9m | THB 135.3m | THB 153.6m | THB 178.6m | THB 178.0m |
| Debt | THB 176.7m | THB 88.8m | THB 117.3m | THB 62.6m | THB 133.2m | THB 113.5m | THB 136.2m | THB 188.1m |
| Shareholders' equity | THB 424.3m | THB 428.3m | THB 425.0m | THB 432.8m | THB 609.4m | THB 621.2m | THB 628.8m | THB 630.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -17.5% | -3.1% | -5.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -9.0% | -0.1% | 1.7% | 0.2% |
| Net margin | -11.2% | -2.6% | -1.1% | -2.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.9 | 15.8 | 14.3 | 11.1 | 46.4 | 7.9 | -1.2 | -2.8 | -143.7 | -10.2 |
| Price to sales | 0.3 | 0.3 | 0.4 | 0.4 | 1.2 | 0.2 | 0.1 | 0.1 | 0.3 | 0.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 14 Mar 2024.
| FY2024 | FY2023 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2006 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.025 | 0.025 | 0.04 | 0.213 | 0.017 | 0.035 | 0.035 | 0.026 |
- 6-for-5 split · 30 Apr 2015
- 1.198-for-1 split · 10 Oct 2014
- 2-for-1 split · 8 May 2014
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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