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    Manufacturing - Metal Fabrication
Bangkok Sheet Metal Public Company Limited

Bangkok Sheet Metal Public Company Limited

BM.BK
Bangkok Sheet Metal Public Company LimitedTH flagStock Exchange of Thailand
1.25
THB
+0.06
- -
808.92MMarket Cap
Bangkok Sheet Metal Public Company Limited
BM.BK
(Stock Exchange of Thailand)

Recent

price

1.25

P/E

ratio

- -

div

yld

- -

ROIC.AI

2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
3.07
2.33
2.08
2.24
2.06
2.26
2.55
2.72
3.28
2.6
2.39
2.36
Revenue per Share
0.26
0.16
0.11
0.06
0.08
0.13
0.17
0.12
0.09
0.14
0.13
0.09
Basic EPS, GAAP
0.29
-0.18
-0.16
- -
0.12
-0.06
-0.27
0.09
-0.13
0.27
0.05
-0.01
Free Cash Flow per Basic Share
0.25
0.18
0.16
0.04
0.08
0.08
0.08
0.04
0.12
0.07
0.16
0.16
Dividend per Share
0.99
0.82
0.73
0.68
0.67
0.71
0.84
0.9
1.05
0.64
0.55
0.58
Book Value per Share
1.06
1.51
1.67
1.56
1.56
1.61
1.78
1.82
2.14
1.48
1.41
1.44
Tangible Book Value per Share
262
364
405
440
440
440
440
475
432
601
625
624
Basic Weighted Avg Shares
802
847
841
985
908
994
1,121
1,289
1,419
1,564
1,493
1,471
Sales/Revenue/Turnover
12.08
9.12
5.99
4.39
9.09
5.89
7.57
6.36
4.9
6.55
7.27
5.19
Operating Margin (%)
25
28
34
41
43
49
55
54
54
64
65
65
Depreciation Expense
68
59
44
25
36
56
74
55
40
83
78
53
Net Income, GAAP
19.86
15.48
14.72
32.69
25.59
10.38
- -
13.8
14.86
- -
10.6
5.76
Effective Tax Rate (%)
8.44
7.02
5.26
2.5
3.97
5.65
6.6
4.27
2.83
5.29
5.25
3.62
Profit Margin (%)
-50
147
143
22
-8
-49
60
137
120
123
20
8
Working Capital
54
25
11
61
72
138
107
159
169
194
152
141
LT Debt
283
555
684
691
692
713
784
868
928
891
881
902
Total Equity
- -
12.53
6.72
3.82
7.11
5.61
- -
6.46
5.08
- -
8.19
5.94
Return on Invested Capital (%)
- -
16.53
13.95
7.15
8.69
11.48
- -
8.92
6.42
- -
12.8
9.11
Return on Capital (%)
- -
21.35
14.92
8.29
12.08
18.38
21.67
13.86
9.12
19.73
21.56
14.1
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
112
207
238
LT Borrowings
159
149
138
LT Finance Leases
3
3
2
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
647
647
647
Market Capitalization
896
689
637

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
451
519
615
Cash, Cash Equivalents & STI
38
20
40
Accounts Receivable, Net
173
240
298
Inventories
205
219
235
Total Current Liabilities
418
499
606
Payables & Accruals
306
291
361
ST Debt
112
207
238
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
14.6%
4.52%
-1.09%
Free Cash Flow
242.2%
-97.41%
-80.43%
Net Income, GAAP
9.97%
15.95%
-5.38%
Sales/Revenue/Turnover
6.72%
8.71%
-4.57%
Total Cash Common Dividend
- -
- -
144.12%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
368
320
421
455
1,564
2025
469
321
367
336
1,493
2026
447
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.02
0.01
0.05
- -
0.14
2025
0.08
0.03
0.01
- -
0.13
2026
0.03
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.07
- -
- -
0.07
2025
- -
0.17
- -
- -
0.16
2026
- -
- -
- -
- -
- -
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Business
Bangkok Sheet Metal Public Company Limited manufactures and distributes metal forming products in Thailand. The company offers six core product groups, including metal trunking and white conduit; communication racks, cabinets, and enclosures; electrical switchboards and lighting fixtures; fabrication and metalworking products; mold and die making products, machine tools, and equipment; and sheet metal parts, press parts, machine parts, and assembly parts, marketed under the BM, BSM, BS, and BEST brands. It provides made-to-order customized products, design, development, machinery, and automation services to customers in commercial and residential buildings, factories, and infrastructure projects, with exports to select international markets. Founded in 1995 and headquartered at 149 Moo 6, Suksawat Road, Bangjak, Phra Pradaeng, Samut Prakan, Thailand, the company operates primarily in the metal fabrication segment of the industrials sector. Bangkok Sheet Metal holds ISO 9001:2008 certification for its quality management system. In a key strategic development, the company co-established Nitto Kogyo BM (Thailand) Co., Ltd., with Japan's Nitto Kogyo Corporation in January 2018 to produce electric and mechanical equipment such as panel boards, consumer units, metal enclosures, and racks, enhancing its electrical infrastructure capabilities. It increased its stake in the joint venture to 48% through capital injections in 2019. The company maintains ongoing investments in production facilities and proposes regular cash dividends, including for the 2024 operating period payable in May 2025.