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At a glance
Figures in THB, from our data supplier.
Revenue
THB 452.5m
FY2016FY2025
Net income
THB 39.0m
FY2016FY2025
Free cash flow
THB 65.6m
FY2016FY2025
Shareholders' equity
THB 523.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | THB 452.5m | THB 460.2m | THB 473.5m | THB 516.6m | THB 327.7m | THB 305.9m | THB 369.6m | THB 356.1m | THB 298.5m | THB 294.2m |
| Gross profit | THB 102.9m | THB 104.9m | THB 124.1m | THB 184.7m | THB 70.7m | THB 66.1m | THB 99.4m | THB 93.9m | THB 72.8m | THB 78.1m |
| Operating income | THB 42.1m | THB 58.1m | THB 74.2m | THB 128.3m | THB 13.9m | THB 5.7m | THB 24.7m | THB 25.0m | THB 26.6m | THB 9.1m |
| Net income | THB 39.0m | THB 43.7m | THB 56.2m | THB 100.1m | THB 8.8m | THB 1.6m | THB 17.3m | THB 16.9m | THB 18.3m | THB 10.9m |
| Diluted earnings per share | 3.90 | 4.37 | 5.62 | 10.01 | 0.88 | 0.16 | 1.73 | 1.69 | 1.83 | 1.09 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | THB 632.6m | THB 613.2m | THB 616.8m | THB 608.7m | THB 525.0m | THB 533.9m | THB 486.2m | THB 488.2m | THB 472.6m | THB 454.4m |
| Cash and short-term investments | THB 136.0m | THB 50.5m | THB 138.1m | THB 142.4m | THB 85.7m | THB 81.6m | THB 39.9m | THB 25.7m | THB 32.7m | THB 35.7m |
| Total liabilities | THB 109.1m | THB 110.1m | THB 134.4m | THB 142.5m | THB 156.3m | THB 173.9m | THB 129.3m | THB 139.0m | THB 134.9m | THB 129.7m |
| Debt | THB 26.5m | THB 29.6m | THB 35.3m | THB 55.2m | THB 71.0m | THB 104.2m | THB 55.1m | THB 68.6m | THB 75.3m | THB 70.1m |
| Shareholders' equity | THB 523.5m | THB 503.1m | THB 482.4m | THB 466.3m | THB 368.7m | THB 360.0m | THB 356.9m | THB 349.2m | THB 337.8m | THB 324.8m |
| Shares outstanding | 10m | 10m | 10m | 10m | 10m | 10m | 10m | 10m | 10m | 10m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | THB 88.4m | THB 75.4m | THB 104.1m | THB 132.2m | THB 36.6m | THB 39.4m | THB 41.1m | THB 47.9m | THB 24.9m | THB 37.2m |
| Capital spending | −THB 22.8m | −THB 44.2m | −THB 52.5m | −THB 28.7m | −THB 5.0m | −THB 11.2m | −THB 11.7m | −THB 31.6m | −THB 46.3m | −THB 17.5m |
| Free cash flow | THB 65.6m | THB 31.2m | THB 51.6m | THB 103.6m | THB 31.6m | THB 28.3m | THB 29.3m | THB 16.3m | −THB 21.5m | THB 19.7m |
| Dividends paid | −THB 17.9m | −THB 22.9m | −THB 39.8m | −THB 3.5m | −THB 3.5m | −THB 2.0m | −THB 7.0m | −THB 7.0m | −THB 5.0m | −THB 5.0m |
Latest quarters
By quarter end
| Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | THB 109.3m | THB 129.0m | THB 109.9m | THB 104.3m | THB 105.5m | THB 120.2m | THB 115.7m | THB 118.8m |
| Gross profit | THB 19.9m | THB 36.5m | THB 26.0m | THB 20.6m | THB 19.8m | THB 32.0m | THB 26.0m | THB 27.0m |
| Operating income | THB 4.0m | THB 23.9m | — | THB 7.4m | THB 9.6m | THB 20.9m | THB 8.5m | THB 12.6m |
| Net income | THB 4.3m | THB 18.8m | THB 10.4m | THB 5.5m | THB 9.1m | THB 16.6m | THB 8.4m | THB 9.6m |
| Diluted earnings per share | 0.43 | 1.88 | 1.04 | 0.55 | 0.91 | 1.66 | 0.84 | 0.96 |
| Cash from operations | THB 27.0m | THB 21.0m | THB 25.0m | THB 14.0m | THB 19.0m | THB 22.0m | THB 9.0m | THB 24.0m |
| Capital spending | −THB 4.0m | −THB 4.0m | −THB 11.0m | −THB 3.0m | −THB 8.0m | −THB 13.0m | −THB 16.0m | −THB 5.0m |
| Free cash flow | THB 23.0m | THB 17.0m | THB 14.0m | THB 11.0m | THB 11.0m | THB 9.0m | −THB 7.0m | THB 19.0m |
| Total assets | THB 632.6m | THB 630.7m | THB 618.6m | THB 618.1m | THB 613.2m | THB 619.4m | THB 606.0m | THB 633.4m |
| Cash and short-term investments | THB 136.0m | — | — | — | THB 50.5m | THB 52.1m | THB 74.7m | THB 105.1m |
| Debt | THB 17.9m | — | — | — | THB 12.5m | THB 14.0m | THB 15.5m | THB 16.9m |
| Shareholders' equity | THB 523.5m | THB 519.8m | THB 501.0m | THB 508.6m | THB 503.1m | THB 494.0m | THB 477.4m | THB 492.0m |
Financial ratios
Data as of 4 Nov 2026
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|
| Gross margin | 22.8% | 26.2% | 35.8% | 21.6% | 21.6% | 26.9% |
| Operating margin | 12.6% | 15.7% | 24.8% | 4.2% | 1.9% | 6.7% |
| Net margin | 9.5% | 11.9% | 19.4% | 2.7% | 0.5% | 4.7% |
| Return on equity | 8.7% | 11.6% | 21.5% | 2.4% | 0.5% | 4.9% |
| Return on assets | 7.1% | 9.1% | 16.4% | 1.7% | 0.3% | 3.6% |
| Free cash flow yield | 12.4% | 16.3% | 16.7% | 4.3% | 5.3% | 5.5% |
| Revenue growth | -2.8% | -8.3% | 57.7% | 7.1% | -17.2% | 3.8% |
| Earnings growth | -22.3% | -43.8% | 1043.2% | 435.1% | -90.6% | 2.7% |
| Current ratio | 1.29x | 1.91x | 2.26x | 1.19x | 1.09x | 1.13x |
| Debt to equity | 0.02x | 0.04x | 0.05x | 0.16x | 0.26x | 0.15x |
| Equity ratio | 82.0% | 78.2% | 76.6% | 70.2% | 67.4% | 73.4% |
| Interest coverage | 23.04x | 21.68x | 41.65x | 3.94x | 1.46x | 8.04x |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.3% | 8.1% | 3.6% |
| Operating income | -31.0% | 49.2% | 9.1% |
| Net income | -26.9% | 88.6% | 11.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 22.8% | 27.2% | 25.8% | 25.8% |
| Operating margin | 11.0% | 15.9% | 12.7% | 10.2% |
| Net margin | 9.1% | 12.6% | 9.8% | 7.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 24.7 | 23.4 | 19.6 | 11.8 | 57.4 | 366.9 | 30.6 | 38.6 | 28.4 | 45.7 |
| Price to sales | 2.1 | 2.2 | 2.3 | 2.3 | 1.5 | 2.0 | 1.4 | 1.8 | 1.7 | 1.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 5 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.60 | 1.80 | 2.30 | 4.00 | 0.35 | 0.20 | 0.70 | 0.70 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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