1. Thailand Stocks

  2. •

    Utilities

  3. •

    Regulated Electric
Ratch Group Public Company Limited

Ratch Group Public Company Limited

RGPCF
Ratch Group Public Company LimitedUS flagOther OTC
1.08
USD
- -
- -
2.40BMarket Cap
Ratch Group Public Company Limited
RGPCF
(Other OTC)

Recent

price

1.08

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
26.98
27.79
35.41
31.35
35.16
36.57
30.43
26.86
25.28
24.54
21.88
23.94
40.76
20.08
15.23
12.45
14.91
Revenue per Share
3.34
3.1
4.94
4.17
4.02
2.04
3.94
3.86
3.57
3.81
4.02
5.01
3.15
2.38
2.82
2.86
2.86
Basic EPS, GAAP
5.72
4.93
5.54
2.55
5.75
5.81
4.58
2.22
1.14
2
1.7
3.37
2.79
3.53
2.8
5.01
5.53
Free Cash Flow per Basic Share
2.09
2.09
2.09
2.1
2.1
2.1
2.1
2.22
2.23
2.23
2.23
2.23
2.02
1.6
1.6
1.6
1.6
Dividend per Share
28.83
28.89
33.83
35.89
37.8
37.73
37.63
39.26
40.29
41.76
43.55
46.45
44.49
38.01
39.23
40.49
41.04
Book Value per Share
29.34
25.57
32.34
34.15
36.16
35.84
34.38
35.18
36.13
35.28
36.5
46.31
47.94
40.4
40.33
41.53
44.07
Tangible Book Value per Share
1,564
1,564
1,564
1,564
1,564
1,564
1,564
1,564
1,564
1,564
1,564
1,559
1,833
2,175
2,175
2,175
2,176
Basic Weighted Avg Shares
42,181
43,457
55,365
49,020
54,970
57,177
47,578
41,996
39,520
38,364
34,206
37,327
74,725
43,675
33,133
27,082
32,433
Sales/Revenue/Turnover
12.2
14.29
11.95
14.25
11.55
8.91
9.77
8.91
7.15
9.23
6.95
6.7
3.56
6.6
7.79
7.58
7.99
Operating Margin (%)
2,689
3,307
3,835
1,433
1,275
1,296
1,303
1,301
1,184
1,528
1,833
2,150
3,037
4,065
4,028
3,708
3,763
Depreciation Expense
5,226
4,849
7,726
6,514
6,279
3,188
6,166
6,039
5,588
5,963
6,287
7,819
5,782
5,167
6,127
6,220
6,229
Net Income, GAAP
19.52
28.13
10.06
18.05
17.13
31.83
12.45
12.86
13.52
12.73
0.45
2.21
14.17
13.57
12.55
7.73
1.87
Effective Tax Rate (%)
12.39
11.16
13.96
13.29
11.42
5.58
12.96
14.38
14.14
15.54
18.38
20.95
7.74
11.83
18.49
22.97
19.21
Profit Margin (%)
9,609
6,288
7,389
1,424
15,358
14,325
15,440
13,892
12,724
12,906
11,608
5,046
26,311
8,491
3,004
6,607
1,839
Working Capital
13,241
32,601
24,879
7,729
16,775
18,355
20,926
19,273
28,742
30,441
41,469
50,922
82,539
63,742
75,599
90,845
82,444
LT Debt
46,676
48,484
56,992
59,126
61,199
60,420
58,283
59,009
59,936
59,414
60,522
79,278
107,403
107,133
106,374
107,646
113,523
Total Equity
6.45
5.86
6.71
6.7
6.35
4.19
4.93
3.97
2.81
3.34
2.42
2.01
1.32
1.23
1.14
0.9
1.2
Return on Invested Capital (%)
9.32
8.57
11.55
9.95
9.52
5.3
9.14
9.02
7.56
7.45
7.51
7.6
5.08
4.68
5.32
4.74
4.84
Return on Capital (%)
11.87
10.75
15.76
11.95
10.9
5.4
10.47
10.05
8.98
9.3
9.43
11.13
7.51
6.29
7.29
7.18
7.08
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
24,429
23,394
27,066
LT Borrowings
66,956
87,650
78,997
LT Finance Leases
3,122
3,194
3,448
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2,175
2,175
2,175
Market Capitalization
52,857
51,357
76,743

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
27,529
36,337
35,397
Cash, Cash Equivalents & STI
17,168
21,090
18,877
Accounts Receivable, Net
4,454
7,138
8,153
Inventories
2,302
2,653
2,654
Total Current Liabilities
28,483
29,729
33,558
Payables & Accruals
3,813
6,188
6,213
ST Debt
24,429
23,394
27,066
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
6.7%
13.34%
1.2%
Free Cash Flow
14.29%
40.7%
79.04%
Net Income, GAAP
10.38%
1.56%
1.53%
Sales/Revenue/Turnover
-2.28%
5.07%
-18.26%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
9,455
8,160
8,922
6,595
33,133
2025
5,367
6,204
5,341
10,169
27,082
2026
10,718
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.71
1.05
0.76
- -
2.82
2025
0.56
0.95
1
- -
2.86
2026
0.56
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.8
0.8
- -
1.6
2025
- -
0.8
0.8
- -
1.6
2026
- -
- -
- -
- -
- -
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Business
Ratch Group Public Company Limited, founded in 2000 and headquartered in Nonthaburi, Thailand, operates as a holding company that invests in subsidiaries and joint ventures focused on electricity generation from fossil fuels including natural gas, coal and fuel oil; renewable energy sources such as solar, wind, hydropower and biomass; power plant operation and maintenance services; and infrastructure investments encompassing energy-related businesses, railways, transportation, water utilities and healthcare, with total equity installed capacity of 10,817 megawatts across Thailand, Australia, Laos, Indonesia, the Philippines, Vietnam and Japan. The Electricity Generating Authority of Thailand holds a 45% equity stake as its major shareholder. Ratch Group generates revenue primarily through electricity sales, services and profit sharing from its investments. In 2025, the company unveils a refined 2025-2029 strategy emphasizing asset portfolio realignment, expansion into renewables and new energy technologies like green hydrogen, small modular reactors and energy storage systems, with THB 15 billion allocated for investments in target markets including Australia, the Philippines and Vietnam; secures a THB 5 billion green and sustainability loan; advances projects such as 10-year private power purchase agreements for Australian wind farms, the 152-MW Marulan solar farm, Nava Nakorn expansion, Song Giang 1 hydropower in Vietnam and NPSI solar in the Philippines; and acquires a 51% stake in Vietnam's Thanh Phong Wind Power project alongside collaborations like green hydrogen studies in Laos.