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S

Siam Pan Group PCL SPG.BK · THB

Materials · SET · 🇹🇭 Thailand

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11.70

—

Close of 9 Nov 2026, in THB

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At a glance

Figures in THB, from our data supplier.

FY2025

Revenue

THB 2.31bn

FY2016FY2025

Net income

THB 319.9m

FY2016FY2025

Free cash flow

THB 727.3m

FY2016FY2025

Shareholders' equity

THB 5.78bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueTHB 2.31bnTHB 2.04bnTHB 2.72bnTHB 2.88bnTHB 2.92bnTHB 2.60bnTHB 2.98bnTHB 3.25bnTHB 3.33bnTHB 3.27bn
Gross profitTHB 690.9mTHB 629.4mTHB 855.9mTHB 871.0mTHB 1.01bnTHB 888.0mTHB 826.5mTHB 902.3mTHB 934.9mTHB 1.10bn
Operating incomeTHB 333.1mTHB 255.8mTHB 408.6mTHB 381.7mTHB 562.8mTHB 440.2mTHB 318.3mTHB 445.4mTHB 480.1mTHB 664.8m
Net incomeTHB 319.9mTHB 246.7mTHB 343.7mTHB 344.1mTHB 460.0mTHB 372.9mTHB 306.5mTHB 379.1mTHB 427.4mTHB 564.1m
Diluted earnings per share0.930.721.001.001.341.090.881.101.241.64

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsTHB 6.25bnTHB 5.98bnTHB 6.04bnTHB 6.07bnTHB 6.00bnTHB 5.75bnTHB 5.50bnTHB 5.44bnTHB 5.21bnTHB 5.05bn
Cash and short-term investmentsTHB 3.88bnTHB 3.29bnTHB 3.24bnTHB 3.01bnTHB 2.93bnTHB 3.03bnTHB 2.71bnTHB 2.22bnTHB 1.95bnTHB 2.05bn
Total liabilitiesTHB 474.7mTHB 372.8mTHB 404.2mTHB 494.7mTHB 600.4mTHB 492.9mTHB 377.1mTHB 386.7mTHB 367.1mTHB 356.4m
DebtTHB 59.1mTHB 62.4mTHB 65.7mTHB 68.8mTHB 71.9mTHB 74.8mTHB 123.6m———
Shareholders' equityTHB 5.78bnTHB 5.61bnTHB 5.64bnTHB 5.57bnTHB 5.38bnTHB 5.22bnTHB 5.09bnTHB 5.03bnTHB 4.81bnTHB 4.66bn
Shares outstanding345m345m345m345m343m341m347m345m345m345m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operationsTHB 732.0mTHB 292.5mTHB 504.4mTHB 251.2mTHB 233.1mTHB 563.3mTHB 756.6mTHB 438.8mTHB 215.9mTHB 563.2m
Capital spending−THB 4.8m−THB 25.6m−THB 18.9m−THB 13.0m−THB 31.9m−THB 26.8m−THB 30.7m−THB 30.7m−THB 56.9m−THB 1.12bn
Free cash flowTHB 727.3mTHB 266.9mTHB 485.5mTHB 238.2mTHB 201.2mTHB 536.5mTHB 725.9mTHB 408.1mTHB 159.0m−THB 559.3m
Dividends paid−THB 138.0m−THB 276.0m−THB 276.0m−THB 155.3m−THB 310.5m−THB 241.5m−THB 241.5m−THB 155.3m−THB 276.0m−THB 241.5m

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
RevenueTHB 530.9mTHB 644.0mTHB 565.8mTHB 465.5mTHB 665.8mTHB 609.2mTHB 591.5mTHB 367.3m
Gross profitTHB 210.6mTHB 224.9mTHB 174.1mTHB 148.0mTHB 204.4mTHB 197.0mTHB 156.3mTHB 127.1m
Operating incomeTHB 117.6mTHB 130.7mTHB 82.3mTHB 44.6mTHB 106.8mTHB 101.3mTHB 74.0mTHB 39.5m
Net incomeTHB 103.8mTHB 116.6mTHB 78.8mTHB 48.7mTHB 97.0mTHB 95.3mTHB 41.1mTHB 51.2m
Diluted earnings per share0.300.340.230.140.280.280.120.15
Cash from operations−THB 59.0mTHB 188.0mTHB 158.0mTHB 80.0mTHB 199.0mTHB 236.0mTHB 244.0m−THB 103.0m
Capital spending—−THB 2.0m—−THB 1.0m−THB 2.0m−THB 1.0m−THB 8.0m−THB 5.0m
Free cash flow—THB 186.0m—THB 79.0mTHB 197.0mTHB 235.0mTHB 236.0m−THB 108.0m
Total assetsTHB 6.20bnTHB 6.37bnTHB 6.25bnTHB 6.17bnTHB 6.07bnTHB 6.18bnTHB 5.98bnTHB 5.99bn
Cash and short-term investmentsTHB 3.73bnTHB 4.06bnTHB 3.88bnTHB 3.72bnTHB 3.63bnTHB 3.54bnTHB 3.29bnTHB 3.04bn
DebtTHB 3.5mTHB 3.5mTHB 3.4mTHB 3.4mTHB 3.4mTHB 6.7mTHB 6.7mTHB 6.6m
Shareholders' equityTHB 5.72bnTHB 5.89bnTHB 5.78bnTHB 5.71bnTHB 5.67bnTHB 5.71bnTHB 5.61bnTHB 5.57bn

Financial ratios

Data as of 21 Oct 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Gross margin30.0%30.9%31.5%30.2%34.4%34.1%
Operating margin14.4%15.7%16.7%13.2%19.8%18.0%
Net margin13.9%12.1%12.6%11.9%15.7%14.3%
Return on equity5.5%4.4%6.1%6.2%8.6%7.1%
Return on assets5.1%4.1%5.7%5.7%7.7%6.5%
Free cash flow yield17.5%7.0%12.1%6.0%5.6%13.6%
Revenue growth13.1%-25.0%-5.6%-1.5%12.4%-12.7%
Earnings growth29.6%-28.2%-0.1%-25.2%23.4%21.6%
Current ratio14.84x18.66x16.70x13.23x9.76x12.35x
Debt to equity0.00x0.00x0.00x0.00x0.00x0.00x
Equity ratio92.4%93.8%93.3%91.8%89.6%90.9%
Interest coverage182.28x166.56x231.48x191.89x262.29x213.74x
Buybacks as a share of market value0.0%0.0%0.0%-0.5%-0.6%1.6%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue-7.2%-2.4%-3.8%
Operating income-4.4%-5.4%-5.9%
Net income-2.4%-3.0%-4.1%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin30.4%30.6%31.9%30.5%
Operating margin13.6%13.9%15.4%15.5%
Net margin13.0%12.6%13.5%13.4%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Price to earnings11.919.016.016.814.215.215.112.614.411.6
Price to sales1.62.32.02.02.22.21.61.51.82.0

Dividends and splits

Per share, in the currency the company pays

Paid for 28 years. Last went ex-dividend on 19 Mar 2026.

FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Paid in the year0.800.400.800.800.450.900.700.70
  • 10-for-1 split · 2 May 2013

Sources and methodology

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

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