HYDROGEN Freehold And Leasehold Real Estate Investment Trust

HYDROGEN Freehold And Leasehold Real Estate Investment Trust

HYDROGEN.BK
HYDROGEN Freehold And Leasehold Real Estate Investment TrustTH flagStock Exchange of Thailand
8.35
THB
- -
- -
1.73BMarket Cap
HYDROGEN Freehold And Leasehold Real Estate Investment Trust
HYDROGEN.BK
(Stock Exchange of Thailand)

Recent

price

8.35

P/E

ratio

- -

div

yld

- -

ROIC.AI

2022
2023
2024
2025
TTM
FRC
0.09
1.08
1.03
1.07
1.08
Revenue per Share
0.06
-0.69
0.71
0.73
0.74
Basic EPS, GAAP
-13.36
0.23
0.77
0.72
0.65
Free Cash Flow per Basic Share
- -
0.22
- -
0.32
0.45
Dividend per Share
9.91
8.69
8.79
8.94
8.99
Book Value per Share
9.91
8.69
8.79
8.94
8.99
Tangible Book Value per Share
208
208
208
208
208
Basic Weighted Avg Shares
19
223
213
223
224
Sales/Revenue/Turnover
78.52
79.67
79.59
73.19
72.36
Operating Margin (%)
- -
- -
- -
- -
- -
Depreciation Expense
12
-143
147
152
154
Net Income, GAAP
- -
- -
- -
- -
- -
Effective Tax Rate (%)
61.84
-63.99
69
68.12
68.77
Profit Margin (%)
63
-19
-18
-47
-37
Working Capital
852
853
854
854
854
LT Debt
2,059
1,804
1,826
1,858
1,868
Total Equity
- -
- -
6.36
6.05
5.98
Return on Invested Capital (%)
- -
- -
7.2
7.08
7.05
Return on Capital (%)
- -
-7.4
8.11
8.24
8.3
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
854
854
854
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
208
208
208
Market Capitalization
1,828
1,662
1,703

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
40
12
23
Cash, Cash Equivalents & STI
37
10
19
Accounts Receivable, Net
1
1
1
Inventories
- -
- -
- -
Total Current Liabilities
63
59
61
Payables & Accruals
6
12
13
ST Debt
- -
- -
- -
Deferred Revenue
56
47
47

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
- -
1.74%
Free Cash Flow
- -
- -
-7.27%
Net Income, GAAP
- -
- -
3.14%
Sales/Revenue/Turnover
- -
- -
4.47%
Total Cash Common Dividend
- -
- -
45.2%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
55
56
53
50
213
2025
57
57
57
51
223
2026
58
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.16
0.16
0.15
- -
0.71
2025
0.17
0.17
0.17
- -
0.73
2026
0.18
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
0.02
0.15
- -
0.32
2026
0.13
- -
- -
- -
- -
Business
Hydrogen Freehold and Leasehold Real Estate Investment Trust is a Thailand-based real estate investment trust established under the Trust for Transaction in Capital Market Act, with a trust deed signed in November 2022 and headquartered in Pathumwan, Thailand. The trust invests primarily in freehold and leasehold properties, generating revenue through leasing and related services, focusing on industrial and commercial real estate assets including Tiger Suvarnabhumi Distribution Center and Sara Group Industrial Parks. It provides investors exposure to diversified real estate portfolios by acquiring properties or leasehold rights and operating these assets to maximize returns. Managed by Hydrogen REIT Management Company Limited, the trust has recently engaged in strategic enhancements such as appointing Apicha Chanprasert as managing director in late 2025 and distributing dividends for the third quarter of 2025, reflecting operational stability and growth initiatives. The trust's portfolio expansion and financial performance are supported by a debt-to-equity ratio around 46-47% and a current return on equity of over 8%, indicating improved profitability and effective capital management. The trust operates under the oversight of Land and Houses Fund Management Company Limited as trustee and custodian, serving the Thai market with a focus on high-quality industrial real estate investments and income generation for unitholders. Recent strategic moves include leadership changes and dividend payments to reinforce investor confidence and operational growth within the industrial REIT sector in Thailand.