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TPI Polene Power PCL TPIPP.BK · THB

Utilities · SET · 🇹🇭 Thailand

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1.53

-1.29%

Close of 9 Nov 2026, in THB

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At a glance

Figures in THB, from our data supplier.

FY2025

Revenue

THB 9.07bn

FY2016FY2025

Net income

THB 2.27bn

FY2016FY2025

Free cash flow

−THB 811.7m

FY2016FY2025

Shareholders' equity

THB 36.42bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueTHB 9.07bnTHB 10.75bnTHB 10.99bnTHB 10.20bnTHB 11.07bnTHB 11.12bnTHB 10.57bnTHB 7.62bnTHB 4.86bnTHB 4.37bn
Gross profitTHB 3.03bnTHB 3.93bnTHB 4.01bnTHB 3.02bnTHB 4.89bnTHB 5.09bnTHB 5.04bnTHB 3.97bnTHB 2.64bnTHB 2.10bn
Operating incomeTHB 2.48bnTHB 3.75bnTHB 3.81bnTHB 2.92bnTHB 4.51bnTHB 4.86bnTHB 4.71bnTHB 3.71bnTHB 2.50bnTHB 1.91bn
Net incomeTHB 2.27bnTHB 3.30bnTHB 3.65bnTHB 2.81bnTHB 4.19bnTHB 4.51bnTHB 4.61bnTHB 3.70bnTHB 2.59bnTHB 1.82bn
Diluted earnings per share0.270.390.430.330.500.540.550.440.310.31

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsTHB 68.82bnTHB 66.40bnTHB 59.77bnTHB 50.58bnTHB 48.49bnTHB 43.78bnTHB 37.85bnTHB 31.54bnTHB 27.57bnTHB 18.17bn
Cash and short-term investmentsTHB 4.13bnTHB 2.99bnTHB 4.42bnTHB 3.14bnTHB 3.46bnTHB 3.09bnTHB 3.34bnTHB 4.41bnTHB 4.23bnTHB 285.9m
Total liabilitiesTHB 32.41bnTHB 31.66bnTHB 26.57bnTHB 19.01bnTHB 17.63bnTHB 14.85bnTHB 10.74bnTHB 6.49bnTHB 3.35bnTHB 9.85bn
DebtTHB 28.03bnTHB 28.07bnTHB 23.67bnTHB 16.78bnTHB 16.17bnTHB 12.90bnTHB 8.00bnTHB 4.00bn—THB 7.06bn
Shareholders' equityTHB 36.42bnTHB 34.74bnTHB 33.20bnTHB 31.56bnTHB 30.85bnTHB 28.93bnTHB 27.11bnTHB 25.05bnTHB 24.21bnTHB 8.32bn
Shares outstanding8,400m8,418m8,400m8,400m8,378m8,400m8,400m8,400m8,400m5,959m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operationsTHB 3.14bnTHB 4.37bnTHB 5.09bnTHB 5.41bnTHB 4.16bnTHB 4.82bnTHB 4.57bnTHB 3.93bnTHB 2.60bnTHB 2.83bn
Capital spending−THB 3.95bn−THB 6.94bn−THB 6.77bn−THB 4.86bn−THB 2.82bn−THB 6.07bn−THB 6.88bn−THB 4.94bn−THB 4.98bn−THB 5.38bn
Free cash flow−THB 811.7m−THB 2.57bn−THB 1.68bnTHB 547.8mTHB 1.34bn−THB 1.25bn−THB 2.31bn−THB 1.01bn−THB 2.39bn−THB 2.56bn
Dividends paid−THB 588.0m−THB 1.76bn−THB 2.02bn−THB 2.10bn−THB 2.27bn−THB 2.69bn−THB 2.52bn−THB 2.86bn−THB 3.78bn−THB 2.55bn

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
RevenueTHB 1.99bnTHB 2.15bnTHB 2.13bnTHB 2.09bnTHB 2.13bnTHB 2.72bnTHB 2.80bnTHB 2.69bn
Gross profitTHB 593.4mTHB 520.5mTHB 593.9mTHB 697.2mTHB 601.5mTHB 1.13bnTHB 1.07bnTHB 983.2m
Operating incomeTHB 482.1mTHB 399.7mTHB 401.8mTHB 633.8mTHB 597.1mTHB 1.07bnTHB 1.04bnTHB 1.01bn
Net incomeTHB 293.6mTHB 215.5mTHB 333.0mTHB 491.7mTHB 474.3mTHB 966.9mTHB 911.8mTHB 833.3m
Diluted earnings per share0.030.030.040.060.060.120.110.10
Cash from operationsTHB 601.0mTHB 2.0mTHB 468.0mTHB 709.0mTHB 1.16bnTHB 1.54bnTHB 1.21bnTHB 990.0m
Capital spending−THB 843.0m−THB 723.0m−THB 1.02bn−THB 943.0m−THB 997.0m−THB 993.0m−THB 2.13bn−THB 1.69bn
Free cash flow−THB 242.0m−THB 721.0m−THB 552.0m−THB 234.0mTHB 160.0mTHB 548.0m−THB 917.0m−THB 704.0m
Total assetsTHB 68.41bnTHB 68.73bnTHB 68.82bnTHB 68.76bnTHB 66.20bnTHB 66.52bnTHB 66.40bnTHB 65.20bn
Cash and short-term investmentsTHB 2.50bnTHB 3.32bnTHB 4.13bnTHB 4.67bnTHB 3.26bnTHB 3.49bnTHB 2.99bnTHB 3.82bn
DebtTHB 2.95bnTHB 28.01bnTHB 28.08bnTHB 28.03bnTHB 26.02bnTHB 26.03bnTHB 26.44bnTHB 26.20bn
Shareholders' equityTHB 36.34bnTHB 36.63bnTHB 36.42bnTHB 36.08bnTHB 35.59bnTHB 35.71bnTHB 34.74bnTHB 33.83bn

Financial ratios

Data as of 29 Sept 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Gross margin33.4%36.5%36.5%29.6%44.1%45.8%
Operating margin27.3%34.9%34.7%28.6%40.7%43.7%
Net margin25.0%30.7%33.2%27.6%37.8%40.5%
Return on equity6.2%9.5%11.0%8.9%13.6%15.6%
Return on assets3.3%5.0%6.1%5.6%8.6%10.3%
Free cash flow yield50.3%79.9%84.0%72.8%49.6%77.2%
Revenue growth-15.6%-2.2%7.7%-7.9%-0.4%5.2%
Earnings growth-31.4%-9.6%29.9%-32.9%-7.0%-2.2%
Current ratio0.77x2.18x1.25x1.37x1.90x1.24x
Debt to equity0.77x0.76x0.66x0.51x0.50x0.42x
Equity ratio52.9%52.3%55.6%62.4%63.6%66.1%
Interest coverage5.37x14.74x25.80x32.31x21.70x17.04x
Buybacks as a share of market value0.2%-0.2%0.0%-0.3%0.3%0.0%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue-3.9%-4.0%13.2%
Operating income-5.3%-12.6%10.6%
Net income-7.0%-12.8%16.5%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin35.1%34.1%37.9%41.5%
Operating margin31.4%31.6%35.3%38.7%
Net margin28.1%29.3%32.8%36.4%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Price to earnings6.77.57.810.28.38.08.012.826.4
Price to sales1.72.32.62.83.13.23.56.214.1

Dividends and splits

Per share, in the currency the company pays

Paid for 9 years. Last went ex-dividend on 11 Mar 2026.

FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Paid in the year0.070.070.210.240.150.230.240.12

Sources and methodology

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

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