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    Real Estate - Development
Origin Property Public Company Limited

Origin Property Public Company Limited

ORI-R.BK
Origin Property Public Company LimitedTH flagStock Exchange of Thailand
1.86
THB
-0.01
- -
4.56BMarket Cap
Origin Property Public Company Limited
ORI-R.BK
(Stock Exchange of Thailand)

Recent

price

1.86

P/E

ratio

- -

div

yld

- -

ROIC.AI

2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
0.31
0.69
0.91
3.83
6.44
5.39
4.27
6.08
5.87
5.65
4.34
3.28
3.23
Revenue per Share
0.04
0.13
0.18
0.84
1.37
1.24
1.09
1.3
1.54
1.11
0.43
0.29
0.29
Basic EPS, GAAP
-0.3
-0.13
-0.55
-0.14
0.34
-1.19
0.08
0.18
-1.75
-3.58
0.99
0.08
0.59
Free Cash Flow per Basic Share
0.05
0.09
0.06
0.05
0.39
0.56
0.29
0.61
0.57
0.73
0.32
0.02
0.02
Dividend per Share
0.16
0.16
0.26
1.15
2.03
2.92
3.61
4.4
5.37
5.74
5.86
6.13
6.17
Book Value per Share
0.16
0.6
0.79
2.46
3.43
4.29
4.73
6.35
7.98
8.45
8.45
8.74
8.79
Tangible Book Value per Share
1,785
2,901
3,473
2,415
2,444
2,450
2,453
2,453
2,454
2,454
2,454
2,454
2,454
Basic Weighted Avg Shares
550
2,010
3,153
9,252
15,749
13,197
10,486
14,923
14,397
13,866
10,644
8,052
7,917
Sales/Revenue/Turnover
16.55
24.98
24.18
24.12
28.75
30.54
26.58
26.11
27.28
23.41
9.56
4.74
5.35
Operating Margin (%)
10
28
41
87
134
119
165
183
305
521
659
468
441
Depreciation Expense
70
386
638
2,021
3,338
3,027
2,662
3,194
3,775
2,718
1,052
720
712
Net Income, GAAP
20.71
20.28
20.22
22.39
22.51
21.26
16.86
20.39
18.36
20.36
21.54
17.44
21.47
Effective Tax Rate (%)
12.78
19.22
20.22
21.84
21.19
22.94
25.39
21.4
26.22
19.6
9.88
8.94
8.99
Profit Margin (%)
546
1,811
4,081
8,429
10,322
15,659
12,936
16,245
22,958
24,825
22,674
20,384
19,620
Working Capital
346
281
1,823
3,827
4,513
9,606
7,428
7,063
14,204
21,025
22,416
18,424
17,700
LT Debt
287
1,748
2,743
6,412
8,801
10,934
12,008
15,940
19,933
21,098
21,282
21,980
22,084
Total Equity
- -
20.98
15.4
16.25
19.53
13.32
8.19
10.17
8.48
5.1
1.38
0.55
0.58
Return on Invested Capital (%)
- -
32.33
24.76
24.03
23.19
15.05
10.98
12.14
11.21
5.9
2.67
2.6
2.53
Return on Capital (%)
- -
103.15
93.83
110.21
86.28
49.95
33.24
32.5
31.49
19.94
7.39
4.9
4.8
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
15,973
15,071
14,205
LT Borrowings
18,102
18,043
17,362
LT Finance Leases
554
381
338
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2,454
2,454
2,454
Market Capitalization
6,626
4,393
4,416

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
43,940
43,082
42,823
Cash, Cash Equivalents & STI
851
490
381
Accounts Receivable, Net
2,955
472
3,186
Inventories
37,073
36,827
36,613
Total Current Liabilities
23,490
22,698
23,203
Payables & Accruals
3,494
3,496
3,902
ST Debt
15,973
15,071
14,205
Deferred Revenue
3,318
3,538
3,684

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
32.97%
13.56%
3.28%
Free Cash Flow
-163.67%
-211.53%
-92.31%
Net Income, GAAP
24.31%
-16.53%
-31.55%
Sales/Revenue/Turnover
27.13%
-2.5%
-24.36%
Total Cash Common Dividend
58.64%
-3.52%
-93.46%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2,739
3,052
2,676
2,177
10,644
2025
1,637
3,042
2,007
1,366
8,052
2026
1,502
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.19
0.18
0.16
- -
0.43
2025
0.05
0.13
0.07
- -
0.29
2026
0.04
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.32
2025
- -
- -
- -
- -
0.02
2026
- -
- -
- -
- -
- -
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Business
Origin Property Public Company Limited is a Thailand-based real estate development company primarily engaged in the development and sale of residential properties, including condominiums and housing projects. The company develops condominium projects under various brands, focusing on properties located near Sky Train routes and expressways for convenient travel. It also sells land and houses and offers comprehensive real estate-related services such as project consulting, marketing research, construction management, sales and marketing management, as well as property management for its residential projects. Additionally, Origin Property operates hotels and leases space in buildings as part of its diversified portfolio. The company was established in 2009 and is headquartered in Mueang Samut Prakan, Thailand. Recent strategic developments include the launch of new condominium projects in high-demand areas such as Phuket, with significant foreign sales momentum reflecting expansion into international markets like Russia, Myanmar, and Taiwan. Origin Property has also formed partnerships incorporating smart home and green building technologies through collaboration with Delta Thailand, aiming to enhance sustainability and innovation in its projects. In 2024 and 2025, the company has embarked on divestments of non-core assets, including hotel properties such as the InterContinental Bangkok Sukhumvit and the upcoming sale of Staybridge Suites Thonglor, to strengthen liquidity and reduce debt. The company continues to maintain a cautious approach to new project launches and capital expenditure, focusing on inventory reduction, stabilizing profitability through ongoing condominium transfers, and securing gains from asset sales. Origin Property operates mainly in Thailand within property development and real estate services segments, targeting middle-to-upper income residential customers with products emphasizing design, functionality, and after-sales service. As of early 2024, the company has developed more than 158 projects valued at over 247 billion baht. Origin Property's recent corporate strategy emphasizes growth through innovation, service excellence, and corporate integrity, while strategically balancing expansion and financial prudence in a dynamic market environment.