1. Thailand Stocks

  2. •

    Consumer Defensive

  3. •

    Packaged Foods
NSL Foods Public Company Limited

NSL Foods Public Company Limited

NSL.BK
NSL Foods Public Company LimitedTH flagStock Exchange of Thailand
22.80
THB
-NaN
- -
6.84BMarket Cap
NSL Foods Public Company Limited
NSL.BK
(Stock Exchange of Thailand)

Recent

price

22.80

P/E

ratio

- -

div

yld

- -

ROIC.AI

2019
2020
2021
2022
2023
2024
2025
TTM
FRC
11.23
9.74
11.14
13.34
15.98
19.46
23.07
23.61
Revenue per Share
0.52
0.5
0.7
0.99
1.11
1.8
2.01
1.99
Basic EPS, GAAP
0.4
0.81
0.58
0.67
0.91
1.62
0.51
-0.26
Free Cash Flow per Basic Share
0.25
0.75
0.98
0.5
0.6
0.7
1.05
1.05
Dividend per Share
1.53
1.42
1.56
1.93
2.44
3.54
4.5
5.05
Book Value per Share
1.55
1.49
4.57
4.67
5.1
6.25
6.53
7.07
Tangible Book Value per Share
300
300
273
300
300
300
300
300
Basic Weighted Avg Shares
3,370
2,923
3,038
4,001
4,793
5,839
6,922
7,084
Sales/Revenue/Turnover
6.7
7.36
8.2
9.54
9.12
11.71
10.99
10.62
Operating Margin (%)
104
105
97
102
120
141
164
168
Depreciation Expense
156
151
191
298
333
541
604
596
Net Income, GAAP
20.49
20.65
17.76
19.92
20.45
19.62
19.1
19.63
Effective Tax Rate (%)
4.64
5.18
6.29
7.44
6.96
9.26
8.73
8.42
Profit Margin (%)
-168
-225
519
508
502
721
638
775
Working Capital
389
286
181
80
14
68
266
446
LT Debt
473
455
1,252
1,406
1,576
1,921
2,207
2,367
Total Equity
- -
15.18
15.2
18.62
20.01
27.84
25.32
21.58
Return on Invested Capital (%)
- -
15.82
22.83
38.78
39.67
51.04
40.63
33.2
Return on Capital (%)
- -
34.29
45
59.32
50.87
60.31
50.09
43.41
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
197
150
191
LT Borrowings
60
182
364
LT Finance Leases
69
84
81
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
300
300
300
Market Capitalization
8,625
6,930
6,600

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
1,586
1,760
1,948
Cash, Cash Equivalents & STI
192
265
406
Accounts Receivable, Net
907
979
1,012
Inventories
424
448
436
Total Current Liabilities
1,062
1,122
1,173
Payables & Accruals
856
967
976
ST Debt
197
150
191
Deferred Revenue
8
5
5

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
47.3%
14.93%
Free Cash Flow
- -
7.64%
-68.48%
Net Income, GAAP
- -
33.58%
11.68%
Sales/Revenue/Turnover
- -
19.16%
18.54%
Total Cash Common Dividend
- -
12.27%
50.01%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,346
1,411
1,432
1,651
5,839
2025
1,708
1,773
1,673
1,769
6,922
2026
1,869
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.43
0.44
0.45
- -
1.8
2025
0.57
0.55
0.42
- -
2.01
2026
0.54
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.35
0.35
- -
0.7
2025
- -
0.55
0.5
- -
1.05
2026
- -
- -
- -
- -
- -
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Business
NSL Foods Public Company Limited manufactures and distributes bakery products, snacks, desserts, appetizers, and other food items in Thailand. The company produces hot grilled sandwiches and a wide variety of bakery items exclusively for 7-Eleven stores through its OEM operations with a total production capacity exceeding 1,200,000 pieces per day; offers owned brands including Ezy Taste, Ezy Sweet, Ezy Bake, 7 Fresh, KhowThang or Rice bar by NSL, Pangtai, Natural Bite, NSL Bakery, and NSL Selection; and provides food services through importing and processing salmon, sablefish, seafood, beef, frozen meats, vegetables, and ready-to-eat meals for hotels, restaurants, catering services, and international schools. Products are distributed via convenience stores, supermarkets, wholesalers, hypermarkets, cash and carry outlets, markets, grocery stores, and gift shops, primarily serving the domestic HoReCa market and modern trade channels. Founded in 2003 and headquartered in Nonthaburi, Thailand, NSL Foods operates four factories in Chonburi and Nonthaburi with approximately 1,640 employees. In recent developments, the company has expanded through strategic acquisitions including assets from N.B. Value Link Co., Ltd. for approximately THB 150 million and 100% of Pro Natural Foods Co., Ltd. for THB 124 million to strengthen its position in agricultural and natural food sectors; and investments in subsidiaries such as Bake A Wish, NSL Intertrade, and NSL Inno Foods to diversify beyond 7-Eleven dependency, enhance branded snacks, and grow food services.