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AAPICO Hitech Public Company Limited

AAPICO Hitech Public Company Limited

AH-R.BK
AAPICO Hitech Public Company LimitedTH flagStock Exchange of Thailand
13.80
THB
-0.20
- -
4.64BMarket Cap
AAPICO Hitech Public Company Limited
AH-R.BK
(Stock Exchange of Thailand)

Recent

price

13.80

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
39.32
34.62
52.3
47.69
41.15
40.96
41.89
45.3
43.69
47.73
49.09
57.58
78.83
84.64
76.42
76.71
75.48
Revenue per Share
1.19
-1.3
2.99
1.86
1.04
0.88
1.54
3.32
3.39
-0.47
0.42
2.89
5.14
4.54
2.15
2.18
2.2
Basic EPS, GAAP
-3.53
-1.7
-0.55
3.75
3.32
1.84
2.97
2.97
1.51
1.31
-0.91
5.08
2.94
6.96
1.18
1.17
1.07
Free Cash Flow per Basic Share
0.23
0.33
0.43
0.55
0.31
0.18
0.48
0.85
1.07
0.79
- -
0.61
1.05
1.66
1.27
0.79
0.79
Dividend per Share
8.04
5.68
8.07
8.97
9.02
9.66
10.6
13.18
14.3
13.02
14.33
16.61
20.81
23.68
23.9
26.01
26.95
Book Value per Share
10.65
9.15
11.27
14.91
14.32
15.53
16.45
19.13
19.32
12.73
14.29
17.18
20.63
24.36
24.42
26.36
27.89
Tangible Book Value per Share
299
299
308
328
354
355
352
348
383
385
355
355
355
355
348
336
336
Basic Weighted Avg Shares
11,758
10,356
16,120
15,627
14,572
14,534
14,731
15,776
16,738
18,389
17,419
20,433
27,967
30,034
26,588
25,780
25,367
Sales/Revenue/Turnover
4.83
-3.04
1.49
1.38
-0.94
-0.49
0.65
0.45
2.51
3.24
0.27
3.32
5.45
5.5
2.07
1.98
1.89
Operating Margin (%)
437
462
764
766
725
745
723
632
596
697
998
1,031
1,154
1,262
1,299
1,215
1,185
Depreciation Expense
357
-390
921
611
367
313
543
1,158
1,299
-180
148
1,024
1,824
1,610
747
731
740
Net Income, GAAP
25.4
- -
3.92
10.41
5.58
7.31
4.52
2.58
- -
382.68
6.94
9.85
8.75
4.91
15.44
13.44
11.74
Effective Tax Rate (%)
3.03
-3.76
5.72
3.91
2.52
2.15
3.69
7.34
7.76
-0.98
0.85
5.01
6.52
5.36
2.81
2.84
2.92
Profit Margin (%)
-467
-1,318
-1,413
-861
-593
-29
512
-508
42
-2,538
-1,880
-2,872
-2,053
-460
707
1,382
1,293
Working Capital
2,896
3,241
2,694
2,072
1,898
1,711
1,603
2,833
4,339
5,100
5,834
4,418
3,992
2,095
3,071
3,316
3,088
LT Debt
4,607
4,141
4,970
5,471
5,681
5,983
6,236
7,183
7,947
7,481
7,741
8,815
9,929
11,317
10,993
11,421
11,956
Total Equity
5.13
- -
2.35
1.89
-1.31
-0.71
1
0.65
- -
-11.02
0.26
3.56
8
8.81
2.7
2.59
2.43
Return on Invested Capital (%)
7.34
- -
15.89
10.49
7.27
6.32
9.6
15.74
- -
-7.88
3.3
8.96
14.09
13.38
7.29
6.64
6.63
Return on Capital (%)
16.31
-19
44.01
22.51
11.97
9.45
15.18
27.84
25.81
-3.42
2.93
18.66
27.48
20.4
8.94
8.58
8.37
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
2,962
2,729
2,748
LT Borrowings
2,964
3,128
2,892
LT Finance Leases
173
189
196
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
336
336
336
Market Capitalization
4,672
4,235
4,336

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
9,386
9,309
9,738
Cash, Cash Equivalents & STI
2,187
2,363
2,373
Accounts Receivable, Net
3,064
3,163
3,352
Inventories
3,403
3,062
3,371
Total Current Liabilities
8,375
7,927
8,445
Payables & Accruals
5,123
4,924
5,396
ST Debt
2,962
2,729
2,748
Deferred Revenue
172
157
162

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
6.92%
8.31%
3.9%
Free Cash Flow
-81.47%
-130.64%
-3.83%
Net Income, GAAP
50.64%
120.74%
-2.08%
Sales/Revenue/Turnover
6.62%
9.41%
-3.04%
Total Cash Common Dividend
- -
7.41%
-39.76%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
7,452
6,436
6,530
6,169
26,588
2025
6,746
6,522
6,116
6,396
25,780
2026
6,333
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.9
0.29
0.59
- -
2.15
2025
0.91
0.32
0.63
- -
2.18
2026
0.94
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.95
0.3
- -
1.27
2025
- -
0.48
0.31
- -
0.79
2026
- -
- -
- -
- -
- -
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Business
AAPICO Hitech Public Company Limited manufactures and distributes OEM automotive parts, dies, and jigs; designs, produces, and installs car assembly jigs and stamping dies; and supplies chassis frame components, forging parts, machining parts, casting parts, plastic parts, plastic fuel tanks, windshield washer systems, brake lines, fuel lines, door checks, roof ditch mouldings, belt line mouldings, door sashes, and exhaust systems to leading automobile assemblers including Auto Alliance Thailand, Isuzu, Nissan, Toyota, and others. The company operates three core business pillars encompassing OEM auto parts manufacturing; car dealerships and after-sales services for brands such as Mitsubishi, MG, Honda, Proton, and Changan; and IoT connectivity and mobility solutions including telematics, logistics systems, smart farm analytics, navigation APIs, GPS tracking, and EV ecosystem products; alongside ancillary offerings like automobile sales, repair services, technical support, IT consulting, Oracle ERP consultancy, car accessories, property leasing, venture capital, and investments in subsidiaries and joint ventures. Founded in 1996 and headquartered at Hitech Industrial Estate in Phra Nakhon Si Ayutthaya, Thailand, AAPICO maintains factories in Samutprakarn, Chonburi, and Rayong, with global operations extending to Malaysia, China, Portugal, and previously India through a network of 49 subsidiaries and associates, of which 34 are in Thailand and 15 overseas, serving passenger cars, pick-up trucks, agricultural machinery, and electronics sectors primarily in Asia and Europe. Recent developments include the 2023 strategic partnership with Proton Holdings Bhd via acquisition of 60% stake in Advanced Vehicle Engineering Global Sdn Bhd, renamed AAPICO Avee Sdn Bhd in Malaysia, involving up to RM140 million capital infusion by 2024 for plant expansion, dies, jigs, hot stamping, body assemblies, and chassis production; establishment of Able EV Co., Ltd. as a Changan dealership in Pathum Thani, Thailand; divestment of 67.6% shares in Sakthi Auto Component Limited (India) for USD 82.7 million with remaining 9.4% on installment terms through 2027; formation of a new wholly-owned holding subsidiary, Able Investment (2025) Pte. Ltd., in Singapore with SGD 1 million capital in September 2025 to support expansion; and a May 2024 collaboration with Changan Automobile for over 20 billion baht procurement of localized EV components ahead of Changan's Rayong plant production start in Q1 2025, alongside recognition with an "A" SET ESG Rating in 2024, TRIS credit upgrade to A- in 2023, and multiple supplier awards from Nissan, BMW, Ford, and others.