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  3. •

    Oil & Gas Midstream
Prima Marine Public Company Limited

Prima Marine Public Company Limited

PRM-R.BK
Prima Marine Public Company LimitedTH flagStock Exchange of Thailand
9.10
THB
+0.05
- -
19.72BMarket Cap
Prima Marine Public Company Limited
PRM-R.BK
(Stock Exchange of Thailand)

Recent

price

9.10

P/E

ratio

- -

div

yld

- -

ROIC.AI

2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
1.39
1.56
2.15
2.09
1.79
2.14
2.37
2.35
3.09
3.23
3.72
3.87
3.94
Revenue per Share
0.16
0.15
0.39
0.33
0.28
0.41
0.61
0.56
0.89
0.85
0.9
0.96
0.92
Basic EPS, GAAP
- -
0.48
-0.73
0.47
0.26
-0.55
1.05
0.44
0.83
0.56
0.29
0.66
0.55
Free Cash Flow per Basic Share
- -
0.26
0.23
0.46
0.1
0.2
0.21
0.26
0.27
0.35
0.49
0.49
0.49
Dividend per Share
0.31
0.37
1.43
1.44
1.42
1.62
1.96
2.14
2.76
3.26
3.34
3.66
3.99
Book Value per Share
0.58
0.84
1.33
2.9
2.33
2.46
2.88
3.02
3.7
4.19
4.25
4.53
4.93
Tangible Book Value per Share
2,500
2,500
2,000
2,152
2,500
2,500
2,500
2,500
2,500
2,500
2,365
2,260
2,229
Basic Weighted Avg Shares
3,480
3,892
4,297
4,501
4,480
5,347
5,926
5,880
7,715
8,087
8,791
8,747
8,789
Sales/Revenue/Turnover
24.8
31.25
29
17.55
16.11
23.57
34.23
22.37
26.67
28.81
29.96
30.26
28.11
Operating Margin (%)
- -
360
469
658
502
640
735
952
1,216
1,300
1,434
1,701
1,747
Depreciation Expense
408
379
788
718
712
1,023
1,533
1,403
2,215
2,125
2,120
2,163
2,054
Net Income, GAAP
7.25
11.75
9.11
0.26
7.24
9.98
10.11
8.06
5.91
7.46
9.06
6.24
6.59
Effective Tax Rate (%)
11.71
9.73
18.33
15.95
15.89
19.14
25.87
23.86
28.71
26.28
24.12
24.72
23.37
Profit Margin (%)
-1,474
-2,753
-1,315
2,002
289
-143
661
1,020
1,783
2,009
1,131
782
692
Working Capital
2,055
455
3,518
2,920
2,243
3,837
3,062
5,465
6,960
5,619
6,989
6,495
6,733
LT Debt
1,446
2,112
2,660
6,247
6,970
7,280
8,324
9,110
10,812
12,039
11,732
11,925
12,659
Total Equity
- -
17.89
15.97
8.63
6.51
9.99
14.47
8.33
10.85
11.1
11.76
11.66
10.31
Return on Invested Capital (%)
- -
3.38
7.58
11.2
11.52
13.34
16.31
13.48
16.72
14.74
13.63
13.37
12.15
Return on Capital (%)
- -
44.72
41.62
24.08
21.4
26.94
34.32
27.38
36.14
28.24
26.43
26.76
23.78
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
3,060
2,666
2,617
LT Borrowings
4,011
3,897
4,108
LT Finance Leases
2,784
2,598
2,625
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2,167
2,167
2,167
Market Capitalization
15,665
15,665
17,607

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
6,135
4,906
4,810
Cash, Cash Equivalents & STI
4,499
3,245
3,123
Accounts Receivable, Net
1,324
1,145
1,364
Inventories
214
197
240
Total Current Liabilities
5,182
4,124
4,118
Payables & Accruals
2,069
1,377
1,446
ST Debt
3,060
2,666
2,617
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
22.97%
7.71%
1.65%
Free Cash Flow
-96.18%
13.15%
117.86%
Net Income, GAAP
23.89%
9.42%
2%
Sales/Revenue/Turnover
8.83%
8.69%
-0.5%
Total Cash Common Dividend
19.66%
16.98%
-6.13%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2,132
2,387
2,171
2,101
8,791
2025
2,069
2,217
2,323
2,138
8,747
2026
2,112
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.23
0.27
0.19
- -
0.9
2025
0.31
0.2
0.25
- -
0.96
2026
0.28
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.26
- -
- -
0.49
2025
- -
0.24
- -
- -
0.49
2026
- -
- -
- -
- -
- -
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Business
Prima Marine Public Company Limited, a Thailand-based provider of integrated marine transportation and storage services for petroleum and chemical products, operates a fleet of oil tankers, floating storage units, and offshore support vessels serving customers in Thailand, Singapore, and international markets; core offerings include transport and storage of crude oil, petroleum products, semi-petroleum products, and liquefied petroleum gas; oil tankers for offshore exploration and production support; floating storage and offloading units; anchor handling tugs; accommodation work barges; and ship management, agency, crew recruitment, and transportation services. Founded in 1987 and headquartered at 80 Soi Bangna-Trad 30, Debaratna Road, Bangna Tai Sub-District, Bangna District, Bangkok 10260, Thailand, the company functions as a subsidiary of Nathalin Group Co., Ltd., targeting oil refineries, major oil traders, and global petroleum producers within the energy sector's midstream logistics segment. Recent strategic developments encompass the October 2024 acquisition of V.C. Shipping and Services Co., Ltd. for THB 200 million to enhance integrated transportation solutions and expand its customer base among international petroleum producers; finalization of a six-tanker order at Chinese shipyards in January 2025 for fleet modernization; conversion of an Aframax tanker into a floating storage and offloading unit under a five-year agreement with PTTEP commencing December 2024; addition of a PCT vessel in May 2024; establishment of a new subsidiary in July 2025; an equity buyback program concluded in September 2025 repurchasing 4.6% of shares for THB 671.78 million; and interim cash dividend declarations for 2025 operating periods.