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  3. •

    Railroads
BTS Group Holdings Public Company Limited

BTS Group Holdings Public Company Limited

BTGRF
BTS Group Holdings Public Company LimitedUS flagOther OTC
0.07
USD
- -
- -
1.19BMarket Cap
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
1.85
0.52
0.45
0.58
1.03
3.72
2.77
2.64
1.96
1.37
1.35
1.25
1.31
1.31
Basic EPS, GAAP
1.08
0.25
0.35
0.17
0.37
0.24
0.65
0.35
0.29
0.14
-0.4
0.16
-0.07
-0.07
Free Cash Flow per Basic Share
0.01
-0.1
-0.03
-0.43
-0.96
-2.7
-1.17
-1.56
-1.23
-0.65
-0.13
2.67
2.17
2.17
Dividend per Share
0.61
0.51
0.64
0.5
0.34
0.35
0.43
0.45
0.31
0.31
0.16
- -
- -
- -
Book Value per Share
4.15
3.83
3.57
3.23
3.24
3.11
3.41
3.17
3.19
3.03
2.42
3.27
3.17
3.17
Tangible Book Value per Share
4.88
4.15
3.72
3.44
3.53
3.97
5.11
5.56
6.17
5.94
4.8
6.8
5.75
5.75
Basic Weighted Avg Shares
11,688
11,862
11,830
11,838
11,843
11,846
12,632
13,159
13,163
13,168
13,168
14,338
16,094
16,094
Sales/Revenue/Turnover
21,649
6,137
5,352
6,809
12,207
44,016
34,948
34,717
25,764
18,018
17,840
17,919
21,129
21,129
Operating Margin (%)
72.21
32.83
18.05
22.55
16.34
4.98
7.67
11.81
12.72
10.94
5.69
3.75
-1.39
-1.36
Depreciation Expense
381
460
453
577
758
793
1,264
1,006
871
967
1,309
2,186
3,417
3,417
Net Income, GAAP
12,598
2,944
4,134
2,003
4,416
2,873
8,162
4,576
3,826
1,836
-5,241
2,324
-1,152
-1,152
Effective Tax Rate (%)
21.82
17.77
20.34
20.72
22.57
18.52
15.88
26.45
23.83
48.67
- -
53.24
- -
505.24
Profit Margin (%)
58.19
47.97
77.24
29.42
36.17
6.53
23.35
13.18
14.85
10.19
-29.38
12.97
-5.45
-5.45
Working Capital
28,786
19,442
-2,369
7,106
-1,256
-21,959
-10,516
-18,113
-24,325
-18,122
-4,588
15,582
13,538
13,538
LT Debt
3,037
2,532
173
23,911
30,463
42,886
66,051
91,542
111,197
138,830
144,386
156,618
146,378
146,378
Total Equity
59,542
52,012
46,901
45,182
46,364
52,310
67,246
76,037
84,311
81,322
66,143
105,990
100,098
100,098
Return on Invested Capital (%)
18.86
2.67
1.39
1.96
2.08
1.93
1.8
1.8
1.16
0.41
- -
0.12
- -
-0.28
Return on Capital (%)
21.76
5.32
8.11
3.92
7.04
3.92
7.99
3.71
3.18
1.76
- -
2.4
- -
-16.38
Return on Common Equity (%)
28.22
6.27
9.44
4.98
11.53
7.64
20.42
10.78
9.13
4.48
-14.62
5.91
-2.35
-2.35

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
36,520
32,948
44,834
LT Borrowings
148,474
155,766
144,808
LT Finance Leases
1,611
1,585
1,570
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
16,094
16,094
16,094
Market Capitalization
49,742
37,620
38,947

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
84,586
72,321
69,308
Cash, Cash Equivalents & STI
32,132
56,073
50,739
Accounts Receivable, Net
1,139
1,272
1,126
Inventories
1,737
1,713
1,650
Total Current Liabilities
50,892
43,024
55,770
Payables & Accruals
7,711
6,266
6,911
ST Debt
36,520
32,948
44,834
Deferred Revenue
3,051
3,055
3,174

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.68%
8.67%
-5.56%
Free Cash Flow
-80.97%
-491.83%
-8.92%
Net Income, GAAP
-57.36%
-149.54%
-149.56%
Sales/Revenue/Turnover
30.73%
-7.7%
17.91%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
5,080
3,899
5,063
3,799
17,840
2025
3,654
3,881
4,997
5,409
17,919
2026
5,272
5,192
5,469
5,197
21,129

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.06
0.02
-0.36
- -
-0.4
2025
-0.03
-0.03
0.21
- -
0.16
2026
-0.01
0.01
-0.06
- -
-0.07

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.16
- -
- -
0.16
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

APIChatGPT
CEO
Kavin Kanjanapas
Full Time Employees
5,357
Sector
Industrials
Industry
Railroads
Address
TST Tower 21 Soi Choei Phuang Bangkok BM Thailand 10900
IPO Date
Apr 9, 2020
CIK
0001546538
Website
btsgroup.co.th
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Business
BTS Group Holdings Public Company Limited (BTSG) is a Thailand-based multi-industry conglomerate listed on the Stock Exchange of Thailand that operates across three core business platforms: MOVE, encompassing mass transit systems including the BTS Skytrain, Pink Line, Yellow Line, and Bus Rapid Transit services; MIX, providing comprehensive online-to-offline marketing solutions through advertising media via VGI Global Media, digital services including insurance brokerage under Rabbit Finance and Rabbit Care, distribution via Super Turtle and Fanslink Communication, and Rabbit card-related services; and MATCH, capturing synergistic opportunities in financial services through Rabbit Holdings including Rabbit Life Insurance and real estate with hotel operations under U Hotels & Resorts, alongside integrated technology solutions via Roctec Global encompassing network infrastructure, cybersecurity, and advertising media. Founded in 1968 and headquartered in Bangkok, the company conducts operations primarily in Thailand with holdings in 57 subsidiaries, jointly controlled entities, and associates, targeting urban commuters, advertisers, insurers, and institutional clients through its proprietary transport and data platforms. BTSG, formerly Tanayong Public Company Limited until its name change in 2010, generates recurring revenues from operations and maintenance contracts, farebox collections, construction projects, interest income from government receivables, and diverse service fees. Recent developments include the post-voluntary tender offer consolidation of Rabbit Holdings (65.6% owned) and Roctec Global (63.7% owned) into financial statements effective November 2024, boosting MATCH segment revenues; the commercial launch of the Pink Line Extension (Si Rat - Muang Thong Thani) in June 2025 enhancing connectivity to IMPACT exhibition venue; VGI Global Media's advertising management agreement and subsequent capital increase in Plan B Media PCL in May-July 2025, raising its stake to 23.3% and reclassifying it as an associate; Roctec's April 2025 THB 1.5 billion telecommunications network contract with State Railway of Thailand and July 2025 amendment to its share purchase agreement for Hello Bangkok LED extending the long-stop date to August 2027; and anticipated full trial operations of the M81 intercity motorway (Bang Yai-Kanchanaburi) in August 2025 under an operations and maintenance contract.

Company News

APIChatGPT

  • seekingalpha.com

    BTS Group Holdings Public Company Limited (BTSGY) Q3 2026 Earnings Call Prepared Remarks Transcript

  • seekingalpha.com

    BTS Group Holdings Public Company Limited (BTSGY) Q2 2026 Earnings Call Prepared Remarks Transcript