1. Thailand Stocks

  2. •

    Non-energy minerals

  3. •

    Steel
Arrow Syndicate Public Co,. Ltd.

Arrow Syndicate Public Co,. Ltd.

5.65
THB
-0.05
(-0.88%)
0.63EPS
9.22P/E
1.49BMarket Cap
Nov 05Next 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
3.91
4.46
5.05
5.39
5.67
5.73
5.71
5.08
4.17
5.24
5.2
5.02
4.63
4.85
Basic EPS, GAAP
0.58
0.66
1.03
1.04
0.76
0.61
0.81
0.66
0.5
0.36
0.4
0.44
0.53
0.63
Free Cash Flow per Basic Share
0.29
0.47
0.72
0.58
0.01
0.12
0.29
0.35
0.81
0.11
1.23
0.9
0.05
0.1
Dividend per Share
0.36
0.36
0.27
0.6
0.6
0.5
0.5
0.55
0.45
0.45
0.35
0.35
0.35
0.4
Book Value per Share
2.49
2.77
3.61
4.04
4.23
4.37
4.73
4.85
4.93
4.84
4.89
4.98
5.14
5.22
Tangible Book Value per Share
2.48
2.76
3.6
3.99
4.16
4.31
4.69
4.81
4.89
4.81
4.87
4.96
5.13
5.2
Basic Weighted Avg Shares
225
225
239
252
253
254
254
255
255
257
257
257
257
257
Sales/Revenue/Turnover
880
1,004
1,210
1,356
1,436
1,454
1,451
1,294
1,065
1,345
1,336
1,290
1,189
1,245
Operating Margin (%)
17.07
16.3
22.71
22.38
15.05
9.79
14.2
17.14
14.38
7.47
7.99
10.21
13.38
14.57
Depreciation Expense
21
22
24
27
30
35
38
43
44
43
41
42
39
38
Net Income, GAAP
130
148
246
263
191
154
205
169
129
93
102
112
137
162
Effective Tax Rate (%)
15.64
12.98
14.77
14.7
15.49
11.41
12.7
25.43
24.32
19.76
19.61
20.78
21.1
19.11
Profit Margin (%)
14.72
14.78
20.31
19.38
13.32
10.58
14.16
13.06
12.09
6.88
7.6
8.7
11.5
12.98
Working Capital
355
404
608
692
700
615
687
740
767
730
712
777
702
713
LT Debt
13
8
5
4
4
3
44
96
67
46
22
19
20
67
Total Equity
624
695
911
1,026
1,082
1,110
1,188
1,208
1,239
1,216
1,231
1,253
1,295
1,315
Return on Invested Capital (%)
19.18
20.96
29.34
26.73
16.6
10.28
13.22
10.54
7.84
5.13
5.96
7.18
9.12
9.66
Return on Capital (%)
20.24
21.67
30.12
26.51
17.58
13.76
16.91
12.73
9.08
6.69
7.49
8.67
10.11
10.95
Return on Common Equity (%)
21.64
22.51
30.67
27.27
18.29
14.1
17.76
13.85
10.29
7.39
8.13
8.84
10.51
12.3

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
167
116
198
LT Borrowings
- -
36
48
LT Finance Leases
20
19
18
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
257
257
257
Market Capitalization
1,297
1,349
1,490

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
998
1,012
1,079
Cash, Cash Equivalents & STI
177
195
140
Accounts Receivable, Net
292
310
357
Inventories
509
495
569
Total Current Liabilities
296
266
366
Payables & Accruals
102
122
140
ST Debt
167
116
198
Deferred Revenue
20
22
22

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.65%
1.41%
3.33%
Free Cash Flow
308.7%
193.64%
-94.59%
Net Income, GAAP
-3.39%
-1.98%
21.92%
Sales/Revenue/Turnover
0.49%
-0.67%
-7.8%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
328
295
353
314
1,290
2025
310
277
311
290
1,189
2026
318
326
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.11
0.08
0.17
0.07
0.44
2025
0.15
0.13
0.16
0.09
0.53
2026
0.17
0.2
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.25
0.1
- -
0.35
2025
- -
0.25
0.1
- -
0.35
2026
- -
0.3
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Panupong Wijitthongruang
Full Time Employees
80
Sector
Non-energy minerals
Industry
Steel
Address
31 Moo 1, Tambon Panthong Chonburi CO Thailand 20160
IPO Date
Dec 17, 2012
Website
arrowpipe.com
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Business
Arrow Syndicate Public Company Limited engages in the manufacture and distribution of electrical conduits, piping, and related products primarily for construction and building applications in Thailand. Its core product range includes electrical conduits such as intermediate metallic, rigid steel, squarelocked and interlocked flexible metallic conduits, and liquid-tight flexible metallic conduits under the brands Arrowpipe and Arrowtite. The company also produces electrical metallic tubing products, hot and cool water pipes and fittings, air ducts including spiral, long seam, wind-flex, flexible metal, rectangular, and PID ducts, as well as specialized corrugated and post-tensioned ducts used in structural reinforcement. It manufactures air cooling conduits and offers greenhouse equipment, tools, and spare parts, alongside providing electrical system contracting services. Arrow Syndicate operates its manufacturing and sales primarily in Thailand with export markets including Australia, Japan, the United States, Turkey, the Philippines, Singapore, Indonesia, Vietnam, Egypt, Myanmar, Malaysia, Cambodia, and Saudi Arabia. Founded in 1988 and headquartered in Chonburi, Thailand, the company underwent a name change from J.S.V. Hardware Company Limited to its current name in August 2012. Recent strategic developments include investments approved in 2025 to expand factory construction, machinery, and equipment procurement to enhance operational capacity and support business expansion. The company maintains high standards with product certifications from Thai Industrial Standards and Underwriters Laboratories, reflecting its commitment to quality and safety in its core electrical conduit and piping products. Arrow Syndicate is positioned as a comprehensive provider of conduit and piping solutions with a broad geographic footprint and ongoing investment in scaling production capabilities.