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Nforce Secure PCL SECURE.BK · THB

Information Technology · SET · 🇹🇭 Thailand

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12.60

+0.80%

Close of 9 Nov 2026, in THB

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At a glance

Figures in THB, from our data supplier.

FY2025

Revenue

THB 1.30bn

FY2016FY2025

Net income

THB 121.5m

FY2016FY2025

Free cash flow

THB 206.8m

FY2016FY2025

Shareholders' equity

THB 771.1m

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueTHB 1.30bnTHB 1.24bnTHB 1.07bnTHB 893.9mTHB 823.4mTHB 633.9mTHB 642.9mTHB 570.4mTHB 464.1mTHB 505.2m
Gross profitTHB 261.1mTHB 245.9mTHB 209.5mTHB 145.1mTHB 155.9mTHB 125.5mTHB 150.4mTHB 145.9mTHB 100.3mTHB 93.1m
Operating incomeTHB 148.3mTHB 133.8mTHB 110.6mTHB 58.7mTHB 75.5mTHB 37.5mTHB 68.9mTHB 83.8mTHB 54.0mTHB 41.0m
Net incomeTHB 121.5mTHB 115.6mTHB 91.8mTHB 55.1mTHB 61.1mTHB 23.5mTHB 59.4mTHB 69.7mTHB 44.8mTHB 32.1m
Diluted earnings per share1.181.130.890.530.590.330.580.680.440.31

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsTHB 1.16bnTHB 1.02bnTHB 909.8mTHB 811.9mTHB 736.0mTHB 304.9mTHB 305.3mTHB 211.4mTHB 191.6mTHB 223.7m
Cash and short-term investmentsTHB 608.2mTHB 463.3mTHB 470.6mTHB 423.4mTHB 437.9mTHB 40.5mTHB 42.2mTHB 68.7mTHB 31.3mTHB 52.0m
Total liabilitiesTHB 389.8mTHB 293.8mTHB 237.1mTHB 199.8mTHB 162.5mTHB 191.3mTHB 213.1mTHB 110.9mTHB 90.7mTHB 148.3m
DebtTHB 18.8mTHB 16.5mTHB 22.7mTHB 22.4mTHB 10.6mTHB 37.0mTHB 83.7mTHB 41.7mTHB 17.6mTHB 83.8m
Shareholders' equityTHB 771.1mTHB 722.9mTHB 672.7mTHB 612.0mTHB 573.5mTHB 113.7mTHB 92.2mTHB 100.5mTHB 100.9mTHB 75.4m
Shares outstanding103m103m103m103m103m71m103m103m103m103m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operationsTHB 211.1mTHB 62.1mTHB 90.3mTHB 25.6mTHB 37.9mTHB 81.8m−THB 9.9mTHB 79.2mTHB 76.1mTHB 76.1m
Capital spending−THB 4.3m−THB 1.5m−THB 8.1m−THB 15.1m−THB 3.6m−THB 8.6m−THB 13.6m−THB 5.4m−THB 5.0m−THB 5.0m
Free cash flowTHB 206.8mTHB 60.6mTHB 82.2mTHB 10.5mTHB 34.2mTHB 73.2m−THB 23.4mTHB 73.8mTHB 71.1mTHB 71.1m
Dividends paid−THB 71.9m−THB 66.8m−THB 30.8m−THB 18.5m−THB 36.4m−THB 57.4m−THB 66.7m−THB 64.1m−THB 64.1m−THB 64.1m

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
RevenueTHB 195.2mTHB 307.3mTHB 451.3mTHB 268.3mTHB 290.3mTHB 292.9mTHB 409.1mTHB 262.0m
Gross profitTHB 38.2mTHB 67.8mTHB 74.5mTHB 61.8mTHB 65.3mTHB 63.2mTHB 84.4mTHB 51.8m
Operating incomeTHB 11.4mTHB 37.5mTHB 44.8mTHB 32.1mTHB 39.7mTHB 32.4mTHB 49.6mTHB 26.3m
Net incomeTHB 13.0mTHB 34.6mTHB 33.5mTHB 27.2mTHB 31.7mTHB 29.1mTHB 46.8mTHB 10.3m
Diluted earnings per share0.130.340.330.260.310.280.460.10
Cash from operationsTHB 53.0mTHB 67.0mTHB 56.0m−THB 9.0mTHB 121.0mTHB 35.0m−THB 25.0mTHB 34.0m
Capital spending————−THB 3.0m———
Free cash flow————THB 118.0m———
Total assetsTHB 911.4mTHB 1.07bnTHB 1.16bnTHB 1.00bnTHB 926.6mTHB 965.7mTHB 1.02bnTHB 881.8m
Cash and short-term investments—THB 664.3mTHB 608.2mTHB 556.1mTHB 549.9mTHB 493.1mTHB 463.3mTHB 479.1m
Debt—THB 7.4mTHB 8.6mTHB 10.1mTHB 11.5mTHB 12.9mTHB 6.5mTHB 6.4m
Shareholders' equityTHB 716.1mTHB 805.8mTHB 771.1mTHB 739.2mTHB 712.0mTHB 752.1mTHB 722.9mTHB 675.9m

Financial ratios

Data as of 5 Nov 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Gross margin20.0%19.9%19.6%16.2%18.9%19.8%
Operating margin11.4%11.8%11.0%5.9%9.3%5.9%
Net margin9.3%9.3%8.6%6.2%7.4%3.7%
Return on equity15.8%16.0%13.6%9.0%10.7%20.7%
Return on assets10.5%11.4%10.1%6.8%8.3%7.7%
Free cash flow yield16.6%4.9%7.6%3.1%3.2%10.1%
Revenue growth5.2%16.1%19.2%8.6%29.9%-1.4%
Earnings growth5.1%26.0%66.7%-9.9%159.5%-60.4%
Current ratio3.24x3.52x4.05x4.26x4.73x1.42x
Debt to equity0.01x0.01x0.01x0.01x0.00x0.23x
Equity ratio66.4%71.1%73.9%75.4%77.9%37.3%
Interest coverage133.69x187.23x145.80x63.41x53.95x11.05x
Buybacks as a share of market value0.0%0.0%0.4%-0.2%-44.8%—

Growth per year

Compound annual rate

3 years5 years10 years
Revenue13.4%15.5%—
Operating income36.2%31.7%—
Net income30.2%38.8%—

Average margins

Over each period

1 year3 years5 years10 years
Gross margin20.0%19.1%19.2%—

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021
Price to earnings10.611.014.727.051.8
Price to sales1.01.01.31.73.9

Dividends and splits

Per share, in the currency the company pays

Paid for 4 years. Last went ex-dividend on 12 Mar 2026.

FY2026FY2025FY2024FY2023FY2022
Paid in the year1.000.700.650.300.18

Sources and methodology

Data on this tab
Our data supplier
Chart on the Overview
TradingView

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