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AAPICO Hitech Public Company Limited

AAPICO Hitech Public Company Limited

AH.BK
AAPICO Hitech Public Company LimitedTH flagStock Exchange of Thailand
13.80
THB
- -
- -
4.64BMarket Cap
AAPICO Hitech Public Company Limited
AH.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 (AH.BK), founded in 1996 and headquartered at 99 Moo 1 Hitech Industrial Estate, Tambol Ban Lane, Amphur Bang Pa-in, Ayutthaya Province, Thailand, manufactures and distributes OEM automotive parts, stamping dies, and assembly jigs; operates car dealerships and service centers; and provides IoT connectivity and mobility solutions. The company produces pressed and stamped body parts including floor parts, cross members, side sills, pillars, brackets, clips, and sub-assemblies; chassis frame components and banjo-type housing axles; forging and machining parts such as transmission systems, power trains, steering and suspension systems, engine parts, shafts, wheel hubs, link shafts, companion flanges, connecting rods, pump housings, and high-pressure common rails; plastic parts, plastic fuel tanks, and windshield washer systems; iron casting and machining parts; brake lines, fuel lines, door checks, roof ditch mouldings, belt line mouldings, door sashes, and exhaust systems; along with assembly jigs and stamping dies. It serves leading OEMs including Isuzu, Toyota, Mitsubishi, Ford, Honda, and others through Tier-1 suppliers, with operations spanning Thailand, Malaysia, China, Portugal, and a network of 50 subsidiaries and associates; car dealerships cover Mitsubishi, MG, Ford, Honda, and Proton brands in Thailand and Malaysia. In recent developments, AAPICO established two new U.S. affiliates including AAPICO Delaware Holdings Corporation in May 2025 to support expansion; agreed in November 2024 to acquire the remaining 50% stake in Aapico Sodecia Company Limited for THB 110 million; sold 68.8% of Sakthi Auto Component Limited (India) shares by November 2024 receiving USD 73.25 million with further installments; entered a 60:40 joint venture with Proton in 2023 acquiring 60% of AAPICO Avee Sdn Bhd for RM41 million plus up to RM140 million investment by 2024; formed Purem AAPICO joint venture for exhaust systems in Malaysia and Thailand; and ceased Changan and Ford dealership operations in 2024. The company listed on the Stock Exchange of Thailand in 2002 and maintains factories in Samutprakarn, Chonburi, Rayong, and overseas sites, targeting automotive OEMs, dealership customers, and IoT sectors amid geographic diversification.