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Starflex PCL SFLEX.BK · THB

Materials · SET · 🇹🇭 Thailand

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3.08

+0.65%

Close of 9 Nov 2026, in THB

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At a glance

Figures in THB, from our data supplier.

FY2025

Revenue

THB 1.96bn

FY2016FY2025

Net income

THB 243.2m

FY2016FY2025

Free cash flow

THB 292.4m

FY2016FY2025

Shareholders' equity

THB 1.16bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueTHB 1.96bnTHB 1.87bnTHB 1.79bnTHB 1.67bnTHB 1.68bnTHB 1.40bnTHB 1.26bnTHB 1.36bnTHB 1.34bnTHB 1.17bn
Gross profitTHB 454.8mTHB 461.4mTHB 429.8mTHB 210.9mTHB 263.1mTHB 304.2mTHB 218.5mTHB 298.5mTHB 286.4mTHB 160.8m
Operating incomeTHB 239.8mTHB 295.9mTHB 232.9mTHB 67.6mTHB 160.8mTHB 173.7mTHB 109.1mTHB 185.2mTHB 197.5mTHB 57.9m
Net incomeTHB 243.2mTHB 280.8mTHB 184.3mTHB 55.1mTHB 149.4mTHB 142.8mTHB 78.6mTHB 136.1mTHB 146.6mTHB 33.3m
Diluted earnings per share0.320.360.230.070.180.170.100.230.200.04

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsTHB 2.25bnTHB 2.19bnTHB 2.04bnTHB 1.60bnTHB 1.51bnTHB 1.29bnTHB 1.40bnTHB 924.0mTHB 912.4mTHB 885.7m
Cash and short-term investmentsTHB 93.7mTHB 62.7mTHB 80.8mTHB 129.3mTHB 75.5mTHB 168.8mTHB 471.2mTHB 50.8mTHB 53.4mTHB 35.9m
Total liabilitiesTHB 1.09bnTHB 1.05bnTHB 1.04bnTHB 616.5mTHB 546.3mTHB 404.5mTHB 570.6mTHB 478.7mTHB 519.9mTHB 510.5m
DebtTHB 660.9mTHB 683.8mTHB 648.3mTHB 289.4mTHB 204.9mTHB 74.6mTHB 232.8mTHB 271.1mTHB 213.8mTHB 273.9m
Shareholders' equityTHB 1.16bnTHB 1.14bnTHB 1.00bnTHB 985.4mTHB 960.3mTHB 880.6mTHB 829.8mTHB 445.2mTHB 392.5mTHB 375.2m
Shares outstanding750m776m792m820m820m820m820m592m745m745m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operationsTHB 346.3mTHB 215.6mTHB 242.4mTHB 175.1mTHB 43.8mTHB 151.5mTHB 208.4mTHB 108.3mTHB 177.8m—
Capital spending−THB 53.9m−THB 112.9m−THB 57.2m−THB 185.6m−THB 175.3m−THB 153.2m−THB 45.9m−THB 84.0m−THB 53.8m—
Free cash flowTHB 292.4mTHB 102.7mTHB 185.2m−THB 10.5m−THB 131.5m−THB 1.7mTHB 162.5mTHB 24.3mTHB 124.0m—
Dividends paid−THB 147.0m−THB 82.2m−THB 59.4m−THB 36.9m−THB 69.7m−THB 94.3m−THB 105.0m−THB 133.3m−THB 129.3m—

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
RevenueTHB 514.4mTHB 490.8mTHB 492.9mTHB 510.3mTHB 467.9mTHB 491.7mTHB 455.2mTHB 476.5m
Gross profitTHB 142.2mTHB 126.7mTHB 117.8mTHB 124.6mTHB 110.7mTHB 120.5mTHB 108.6mTHB 124.2m
Operating incomeTHB 84.4mTHB 73.7mTHB 64.7mTHB 64.4mTHB 53.2mTHB 72.6mTHB 81.2mTHB 84.1m
Net incomeTHB 79.2mTHB 61.7mTHB 62.4mTHB 62.5mTHB 53.1mTHB 65.2mTHB 76.6mTHB 75.4m
Diluted earnings per share0.110.080.080.080.070.090.100.10
Cash from operations−THB 52.0mTHB 79.0mTHB 74.0mTHB 112.0mTHB 107.0mTHB 54.0mTHB 24.0mTHB 123.0m
Capital spending−THB 8.0m−THB 41.0m−THB 7.0m−THB 10.0m−THB 17.0m−THB 18.0m−THB 69.0m−THB 34.0m
Free cash flow−THB 60.0mTHB 38.0mTHB 67.0mTHB 102.0mTHB 90.0mTHB 36.0m−THB 45.0mTHB 89.0m
Total assetsTHB 2.44bnTHB 2.28bnTHB 2.25bnTHB 2.21bnTHB 2.21bnTHB 2.29bnTHB 2.19bnTHB 2.18bn
Cash and short-term investmentsTHB 81.8mTHB 98.6mTHB 93.7mTHB 85.6mTHB 85.1mTHB 105.0mTHB 62.7mTHB 72.0m
DebtTHB 754.1mTHB 645.5mTHB 661.6mTHB 697.1mTHB 691.3mTHB 682.7mTHB 673.5mTHB 680.6m
Shareholders' equityTHB 1.22bnTHB 1.20bnTHB 1.16bnTHB 1.10bnTHB 1.15bnTHB 1.21bnTHB 1.14bnTHB 1.07bn

Financial ratios

Data as of 25 Oct 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Gross margin23.2%24.7%24.0%12.6%15.7%21.8%
Operating margin12.2%17.1%13.0%4.0%9.6%12.5%
Net margin12.4%15.0%10.3%3.3%8.9%10.2%
Return on equity21.0%24.6%18.4%5.6%15.6%16.2%
Return on assets10.8%12.8%9.0%3.4%9.9%11.1%
Free cash flow yield16.9%13.4%12.0%13.9%8.5%11.8%
Revenue growth5.0%4.1%7.5%-0.5%20.0%11.3%
Earnings growth-13.4%52.4%234.6%-63.1%4.6%81.7%
Current ratio1.19x1.28x0.92x1.88x1.85x1.98x
Debt to equity0.57x0.59x0.63x0.28x0.20x0.06x
Equity ratio51.6%52.2%49.1%61.5%63.7%68.5%
Interest coverage7.78x9.13x23.96x22.96x41.27x38.06x
Buybacks as a share of market value3.4%2.0%3.4%0.0%-0.0%0.0%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue5.6%7.0%5.6%
Operating income52.5%6.7%23.4%
Net income64.1%11.2%34.4%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin23.9%21.3%20.5%19.3%
Operating margin14.0%11.5%11.3%10.5%
Net margin13.7%10.5%10.2%8.8%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Price to earnings9.77.915.444.427.730.719.2
Price to sales1.21.21.61.52.53.11.2

Dividends and splits

Per share, in the currency the company pays

Paid for 6 years. Last went ex-dividend on 12 Mar 2026.

FY2026FY2025FY2024FY2023FY2022FY2021FY2020
Paid in the year0.050.1930.1050.0750.0450.0850.115
  • 2-for-1 split · 23 Sept 2020

Sources and methodology

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

Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.