Thai Beverage Public Co., Ltd.

Thai Beverage Public Co., Ltd.

0.32
USD
-0.01
(-3.81%)
0.03EPS
14.03P/E
10.17BMarket Cap
Nov 20Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
6.2
6.45
6.85
5.54
7.57
9.15
10.65
10.09
9.58
10.84
13.25
13.54
13.26
10.46
Basic EPS, GAAP
0.76
0.86
1.05
0.75
1.37
0.71
0.93
0.91
0.98
1.2
1.09
1.08
1.01
0.94
Free Cash Flow per Basic Share
0.53
0.78
0.73
0.62
0.96
0.59
1.3
1.3
1.13
1.65
1.21
1.14
1.29
1.1
Dividend per Share
0.42
0.45
0.61
0.66
0.6
0.62
0.39
0.43
0.51
0.5
0.6
0.6
0.62
0.15
Book Value per Share
3.75
4.03
4.62
4.78
5.14
4.82
4.61
5.68
6.81
8.19
8
5.94
5.62
5.34
Tangible Book Value per Share
3.46
3.74
4.32
4.49
4.85
-2.91
-2.72
-2.03
-0.98
- -
-0.84
-1.96
-1.88
-2.42
Basic Weighted Avg Shares
25,110
25,110
25,110
25,110
25,110
25,111
25,114
25,116
25,119
25,121
25,124
25,128
25,130
25,025
Sales/Revenue/Turnover
155,771
162,040
172,049
139,153
189,997
229,695
267,357
253,481
240,543
272,359
332,931
340,289
333,286
261,829
Operating Margin (%)
13.62
14.51
13.71
14.38
14.57
11.09
11.86
13.65
14.04
14.17
11.9
12.47
12.32
12.44
Depreciation Expense
3,933
3,986
4,400
3,293
4,308
6,086
6,635
6,565
7,831
7,761
10,028
10,201
10,346
6,609
Net Income, GAAP
19,130
21,694
26,463
18,920
34,510
17,943
23,272
22,752
24,645
30,106
27,434
27,216
25,361
23,440
Effective Tax Rate (%)
18.23
17.52
14.56
16.06
12.89
18.65
16.7
20.85
14.49
13.61
14.98
18.01
18.44
18.39
Profit Margin (%)
12.28
13.39
15.38
13.6
18.16
7.81
8.7
8.98
10.25
11.05
8.24
8
7.61
8.95
Working Capital
23,494
10,032
15,037
17,285
8,250
37,510
28,509
-4,438
-176
21,564
20,162
36,356
42,935
-11,269
LT Debt
55,343
27,555
25,883
27,089
10,000
216,804
197,975
152,805
156,545
157,789
167,480
176,968
189,368
154,595
Total Equity
97,993
104,676
119,266
123,712
132,719
155,470
150,322
179,405
210,176
249,389
313,037
229,055
215,820
169,526
Return on Invested Capital (%)
10.05
12.21
12.79
9.92
14.05
6.41
6.91
6.96
6.71
6.14
5.98
5.92
7.17
6.81
Return on Capital (%)
11.92
14.53
17.4
11.68
20.48
7.25
6.98
6.53
6.68
6.91
6.03
6.01
5.75
6.7
Return on Common Equity (%)
21.78
22.19
24.37
16.04
27.71
14.36
19.66
17.61
15.72
15.98
13.49
15.54
17.46
18.04

Capital Structure

THB

•

in mil. unless spec.
Sep'19
Dec'20
Mar'20
ST Debt
21,608
14,620
67,695
LT Borrowings
197,975
198,131
154,595
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
25,114
25,114
25,116
Market Capitalization
498,787
482,904
330,077

Working Capital

THB

•

in mil. unless spec.
Sep'19
Dec'20
Mar'20
Total Current Assets
77,318
80,362
84,047
Cash, Cash Equivalents & STI
24,362
27,520
25,633
Accounts Receivable, Net
5,094
5,921
6,149
Inventories
42,876
41,970
46,505
Total Current Liabilities
48,809
44,884
95,316
Payables & Accruals
- -
- -
- -
ST Debt
21,608
14,620
67,695
Deferred Revenue
- -
- -
- -

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
7.29%
5.74%
-5.78%
Free Cash Flow
13.46%
2.69%
12.55%
Net Income, GAAP
4.73%
2.8%
-6.82%
Sales/Revenue/Turnover
8%
6.1%
-2.06%
Total Cash Common Dividend
1.57%
8.01%
3.34%

Semi-annual Revenue

THB

•

in mil. unless spec.

Year

H1
H2
FY
2024
85,832
- -
340,289
2025
85,352
- -
333,286
2026
86,516
- -
- -

Semi-annual Earnings Per Share

THB

•

in mil. unless spec.

Year

H1
H2
FY
2024
0.28
- -
1.08
2025
0.27
- -
1.01
2026
0.29
- -
- -

Semi-annual Dividends Per Share

THB

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.6
2025
- -
- -
0.62
2026
- -
- -
- -

Company Description

CEO
Thapana Sirivadhanabhakdi
Full Time Employees
45,716
Sector
Consumer non-durables
Industry
Beverages: alcoholic
Address
Sangsom Building Bangkok BM Thailand 10900
IPO Date
Jun 7, 2006
Business
Thai Beverage Public Company Limited is Thailand's largest beverage company and one of Southeast Asia's leading producers of alcoholic and non-alcoholic beverages and food products. The company manufactures and distributes spirits including brown spirits such as SangSom rum, Mekhong rum-based spirit, Mungkorn Thong, Hong Thong, and premium single malt whisky PRAKAAN; white spirits such as Ruang Khao; beer brands including Chang Classic lager, Archa, Federbräu, and through its Sabeco subsidiary in Vietnam, Saigon Beer and 333; non-alcoholic beverages encompassing Oishi green tea, est cola, Crystal water, functional drinks, energy drinks, electrolyte drinks, ready-to-drink juices, UHT and pasteurized milk, yoghurt, soya milk such as NutriWell, and sparkling drinks; and food products including ice cream, confectionery, chilled and frozen foods. Thai Beverage operates 19 distilleries, three breweries, and 31 non-alcoholic beverage plants in Thailand, with additional production facilities in Vietnam, Scotland for Scotch whisky, vodka, gin and liqueurs, and other countries; it maintains an extensive distribution network covering over 600,000 points of sale in Thailand and presence in more than 90 countries worldwide, targeting consumer markets across Southeast Asia, Europe and beyond. Founded in 2003 and headquartered at 14 Vibhavadi Rangsit Road, Chomphon, Chatuchak District, Bangkok, Thailand, the company lists on the Singapore Exchange under ticker Y92.SI. In recent developments, Thai Beverage consolidated its stake in Fraser and Neave Limited from 28.31% to 69.64% in September 2024 to expand into halal-certified non-alcoholic beverages, dairy and functional drinks in markets like Malaysia; launched premium products including single malt whisky PRAKAAN, which won a World Whiskies Awards 2025 category title, and NutriWell soya milk; and committed 21 billion baht in capital investments under its PASSION 2030 strategy, with 12 billion baht allocated for fiscal 2025 and 9 billion baht for 2026 to drive regional growth, digital transformation, production upgrades and sustainability initiatives targeting net-zero emissions by 2050.

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