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  3. •

    Real Estate - Development
Property Perfect Public Company Limited

Property Perfect Public Company Limited

PF.BK
Property Perfect Public Company LimitedTH flagStock Exchange of Thailand
0.04
THB
-0.01
- -
400.44MMarket Cap
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
1.67
1.84
1.79
1.71
1.64
1.9
2.03
1.23
0.96
1.04
1.08
0.88
0.47
0.39
Basic EPS, GAAP
0.01
0.06
0.05
0.05
0.04
0.05
0.11
-0.1
0.05
- -
-0.02
-0.1
-0.28
-0.29
Free Cash Flow per Basic Share
-0.23
-0.08
-0.2
-0.37
0.26
-0.15
0.25
0.09
0.13
0.08
0.05
0.07
0.05
0.01
Dividend per Share
0.03
- -
0.04
0.03
0.04
0.05
0.07
0.01
0.02
0.01
0.02
0.01
- -
- -
Book Value per Share
1.28
1.31
1.61
1.25
1.23
1.21
1.26
1.13
1.15
1.14
1.09
1.04
0.77
0.69
Tangible Book Value per Share
1.11
1.13
1.7
1.35
1.35
1.4
1.42
1.38
1.35
1.59
1.45
1.26
0.9
0.8
Basic Weighted Avg Shares
6,611
6,775
6,722
8,860
9,861
10,011
10,011
10,011
10,011
10,011
10,011
10,100
10,047
10,500
Sales/Revenue/Turnover
11,011
12,445
12,049
15,109
16,183
18,998
20,306
12,344
9,610
10,362
10,824
8,917
4,754
4,126
Operating Margin (%)
4.86
6.97
0.5
7.04
6.16
7.38
8.51
-4.92
-8.55
-1.68
4.61
-0.51
-18.23
-23.25
Depreciation Expense
151
146
435
747
771
800
780
1,005
885
643
575
521
459
460
Net Income, GAAP
83
399
361
400
443
549
1,138
-1,046
527
25
-196
-1,010
-2,813
-3,058
Effective Tax Rate (%)
58.15
38.71
4.52
46.2
31.72
32.19
24.07
- -
- -
- -
- -
- -
- -
- -
Profit Margin (%)
0.75
3.21
2.99
2.64
2.74
2.89
5.6
-8.47
5.48
0.24
-1.81
-11.33
-59.18
-74.13
Working Capital
9,995
7,710
13,750
15,601
18,989
21,075
18,506
11,445
12,396
11,524
5,942
4,207
1,037
-1,961
LT Debt
12,834
8,156
16,679
20,391
20,725
26,775
26,069
21,247
21,817
22,481
18,129
13,519
15,198
12,649
Total Equity
8,632
8,972
13,664
14,042
15,255
15,728
15,942
13,954
13,575
15,937
14,537
12,719
9,031
8,446
Return on Invested Capital (%)
0.87
1.91
0.17
1.39
1.57
2.02
2.57
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
1.64
2.79
3.2
2.28
2.09
2.19
4.19
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)
0.98
4.61
3.67
3.65
3.82
4.52
9.19
-8.75
4.61
0.22
-1.76
-9.42
-30.87
-35.13

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
17,957
9,905
12,614
LT Borrowings
6,210
14,203
11,679
LT Finance Leases
1,012
995
970
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
10,011
10,011
10,011
Market Capitalization
709
607
420

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
20,011
16,905
16,977
Cash, Cash Equivalents & STI
842
847
933
Accounts Receivable, Net
123
186
192
Inventories
17,819
14,760
14,695
Total Current Liabilities
23,552
15,868
18,937
Payables & Accruals
3,876
4,356
4,655
ST Debt
17,957
9,905
12,614
Deferred Revenue
667
732
722

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-3.22%
-7.12%
-29%
Free Cash Flow
-53.23%
-4.09%
-34.42%
Net Income, GAAP
-58.64%
-109.48%
178.56%
Sales/Revenue/Turnover
-5.66%
-14.83%
-46.69%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2,413
2,413
1,921
2,169
8,917
2025
1,647
945
1,027
1,135
4,754
2026
1,019
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.01
-0.02
-0.04
- -
-0.1
2025
-0.03
-0.06
-0.05
- -
-0.28
2026
-0.05
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.01
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

APIChat
CEO
Sanith Adhyanasakul
Sector
Real Estate
Industry
Real Estate - Development
Address
100/1 Vorasombat Building Bangkok Thailand 10310
IPO Date
Nov 22, 2001
Website
pf.co.th
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Business
Property Perfect Public Company Limited (PF.BK) engages primarily in real estate development in Thailand, focusing on residential and commercial properties. The company develops and sells single detached houses, duplex houses, townhouses, low-rise condominiums, resort residences, and commercial buildings including shopping malls, office buildings, shophouses, and hotels; it also provides construction services through subsidiaries, property management and rental services, prefab structure manufacturing and installation for housing projects, and operates fitness clubs while cultivating agricultural products. Products target diverse customer segments with prices ranging from Bt899,000 to Bt150 million, emphasizing "Happy Living" concepts with green spaces, clubhouses, and security in Greater Bangkok, upcountry Thailand, and select overseas markets; the company maintains 67 ongoing projects with 53,611 residential units developed historically and partners with Grande Asset Hotels & Property for diversified real estate operations including 2,077 hotel rooms. Founded in 1985 and headquartered in Bangkok, Property Perfect listed on the Stock Exchange of Thailand in 1993 and operates through subsidiaries supporting construction, retail investment, and international development. Recent developments include the sale of the Hyatt Regency Bangkok Sukhumvit hotel in November 2024 for Bt5.055 billion alongside Grande Asset, the establishment and acquisition of a subsidiary in Australia in October 2024 for overseas expansion, a change in Chief Financial Officer in August 2025, shareholder approval for extending redemption of 15 debenture series through debtholder meetings in 2025 as part of financial restructuring efforts, and launches of new projects such as Penton Ari-Suthisan luxury home offices, Bella Del Monte Khao Yai resort villas, Wawila Sukhumvit 77 houses, Market Avenue Chaengwattana-Ratchaphruek shophouses, and Perfect Park Chaengwattana-Ratchaphruek detached houses, alongside plans for seven new projects in 2026 targeting Bt11 billion in sales.