1. Thailand Stocks

  2. •

    Consumer durables

  3. •

    Homebuilding
AP (Thailand) Public Co. Ltd.

AP (Thailand) Public Co. Ltd.

8.00
THB
+0.10
(+1.27%)
1.40EPS
5.38P/E
23.75BMarket Cap
Nov 10Next Earn
AP (Thailand) Public Co. Ltd.
SET:AP
(Stock Exchange of Thailand)

Recent

price

8.00

P/E

ratio

5.38

div

yld

-NaN%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
THB
4.48
4.4
5.55
6.36
7.36
7.02
6.44
7.05
8.67
7.57
9.5
10.11
12.25
12.09
11.76
11.87
12.72
Revenue per Share
0.72
0.5
0.7
0.64
0.83
0.83
0.86
1
1.26
0.98
1.34
1.44
1.87
1.92
1.6
1.37
1.4
Basic EPS, GAAP
-0.69
-1.02
0.78
-0.88
0.29
-0.16
-0.14
-2.11
-1
-3.21
2.3
0.61
-0.65
-3.47
0.96
0.57
0.56
Free Cash Flow per Basic Share
0.24
0.14
0.16
0.23
0.25
0.26
0.3
0.3
0.35
0.4
0.4
0.45
0.5
0.65
0.7
0.6
- -
Dividend per Share
3.08
3.53
4.05
4.45
5.04
5.61
6.17
6.88
7.79
8.36
9.31
10.31
11.68
12.96
13.88
14.65
14.75
Book Value per Share
2.93
3.43
3.98
4.4
5
5.58
6.14
6.84
7.75
8.3
9.23
10.23
11.6
12.89
13.84
14.62
14.72
Tangible Book Value per Share
3,088
3,098
3,118
3,144
3,146
3,146
3,146
3,146
3,146
3,146
3,146
3,146
3,146
3,146
3,146
3,146
3,146
Basic Weighted Avg Shares
13,840
13,639
17,310
19,989
23,149
22,079
20,253
22,176
27,271
23,802
29,888
31,794
38,539
38,045
36,988
37,345
40,031
Sales/Revenue/Turnover
22.43
18.77
17.05
14.17
15.73
16.52
14.95
15.53
13.28
11.75
11.14
14.66
15.49
17.18
15.88
13.87
13.88
Operating Margin (%)
178
196
152
159
84
67
54
68
86
118
269
279
291
290
275
236
202
Depreciation Expense
2,228
1,551
2,186
2,013
2,615
2,623
2,703
3,157
3,963
3,068
4,227
4,543
5,877
6,054
5,020
4,317
4,413
Net Income, GAAP
30.47
35.25
24.03
21.11
19.33
21.84
18.63
19
16.47
15.94
14.03
16.06
17.3
17.72
18.65
17.92
19.08
Effective Tax Rate (%)
16.1
11.37
12.63
10.07
11.3
11.88
13.34
14.24
14.53
12.89
14.14
14.29
15.25
15.91
13.57
11.56
11.02
Profit Margin (%)
15,713
18,533
20,357
23,491
24,784
25,830
23,398
25,249
32,039
34,414
36,641
38,513
43,349
53,243
56,289
59,042
59,659
Working Capital
6,807
8,302
8,073
10,371
10,274
10,699
8,300
9,441
13,241
14,927
15,666
15,024
15,284
20,964
21,905
21,604
21,873
LT Debt
9,514
10,958
12,680
14,007
15,848
17,654
19,424
21,647
24,491
26,296
29,263
32,423
36,728
40,737
43,645
46,078
46,408
Total Equity
12.49
7.36
9.17
8.15
9.72
9.41
7.61
7.65
7.09
4.89
5.35
7.32
8.66
7.95
6.3
5.51
5.67
Return on Invested Capital (%)
12.71
7.38
9.36
8.25
9.64
9.04
8.59
8.86
9.61
6.58
8.44
8.86
10.43
9.22
7.3
6.21
6.17
Return on Capital (%)
25.4
15.15
18.49
15.09
17.52
15.66
14.58
15.37
17.17
12.07
15.2
14.72
16.99
15.62
11.89
9.62
9.8
Return on Common Equity (%)

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
9,744
10,297
11,657
LT Borrowings
21,545
22,208
21,804
LT Finance Leases
59
72
68
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
3,146
3,146
3,146
Market Capitalization
27,055
26,426
23,752

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
76,264
78,036
78,667
Cash, Cash Equivalents & STI
1,856
2,684
3,048
Accounts Receivable, Net
134
138
143
Inventories
73,066
73,936
74,369
Total Current Liabilities
17,222
17,625
19,008
Payables & Accruals
7,020
6,774
6,820
ST Debt
9,744
10,297
11,657
Deferred Revenue
458
554
531

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
10.1%
9.54%
5.57%
Free Cash Flow
136.32%
-2.49%
-41.05%
Net Income, GAAP
6.93%
1.76%
-14.01%
Sales/Revenue/Turnover
6.15%
4.9%
0.96%
Total Cash Common Dividend
- -
9.4%
-14.2%

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
7,939
9,789
9,948
9,312
36,988
2025
7,699
9,939
9,124
10,584
37,345
2026
9,547
10,777
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.32
0.4
0.46
0.41
1.6
2025
0.27
0.32
0.37
0.41
1.37
2026
0.29
0.34
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.7
2025
- -
- -
- -
- -
0.6
2026
- -
- -
- -
- -
- -
Similar Companies
Lennar Corporation (NYSE:LEN)
Anant Raj Ltd. (NSE:ANANTRAJ)
D.R. Horton, Inc. (NYSE:DHI)
Orascom Development Egypt (S.A.E) (EGX:ORHD)
Springview Holdings Ltd (NASDAQ:SPHL)
Heliopolis Housing (EGX:HELI)
Business
AP (Thailand) Public Company Limited AP (Thailand) Public Company Limited (AP.BK) is a Thailand-based real estate developer engaged primarily in property development, offering single detached houses, townhouses, semi-detached houses, condominiums, home offices, and duplexes across low-rise and high-rise segments; the company operates through brands such as City, Centro, Modern, Baan Klang Muang, Pleno, District, Apitown, Aspire, The Address, and Rhythm, targeting mid-to-high-end residential customers in Bangkok Metropolitan and surrounding areas, as well as major provincial cities with convenient transportation access. Founded in 1991 and headquartered at Ocean Tower 1, 18th Floor, 170/57 Ratchadapisek Road, Klong Toei, Bangkok, AP Thailand generates the majority of its revenue from real estate sales, supplemented by other segments including after-sales services, property brokerage, education and training, construction services for group companies, and comprehensive living solutions via affiliates like real estate consultancy, property management for AP communities, home maintenance under AP Living Solution, design innovations, and lifelong learning centers. The company maintains a longstanding strategic partnership with Mitsubishi Estate Co., Ltd., marking its 12th successful year in 2025 through joint venture condominium projects that emphasize quality, innovation, and city-center locations; recent launches include the ready-to-move-in luxury condominium RHYTHM Charoenkrung Pavillion overlooking the Chao Phraya River, the LIFE Phahon-Ladprao project reinforcing condominium supremacy around Ladprao, and aggressive expansion plans with industry-leading project launches valued at Bht 77,000 million targeting inclusive growth across business, social, and new opportunities.