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    Industrial services

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    Engineering & construction
CAZ (Thailand) Public Co Limited

CAZ (Thailand) Public Co Limited

2.24
THB
-0.04
(-1.75%)
-0.92EPS
612.29MMarket Cap
CAZ (Thailand) Public Co Limited
SET:CAZ.R
(Stock Exchange of Thailand)

Recent

price

2.24

P/E

ratio

- -

div

yld

- -

ROIC.AI

2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
THB
0.93
2.53
2.22
3.73
4.72
7.01
7.6
7.46
10.66
10.76
12.68
6.76
6.92
Revenue per Share
0.03
0.05
0.04
0.08
0.18
0.26
0.21
0.46
0.68
0.73
-0.79
-1.01
-0.95
Basic EPS, GAAP
-0.14
-0.15
-1.01
0.67
-0.14
-1.38
-0.44
0.97
0.65
0.87
-1.66
1.14
4.81
Free Cash Flow per Basic Share
- -
- -
- -
0.08
0.12
0.1
0.1
0.02
0.16
0.2
0.21
- -
- -
Dividend per Share
0.12
0.26
0.32
0.47
0.54
1.67
1.78
2.22
2.76
3.29
2.29
1.68
1.93
Book Value per Share
0.12
0.25
0.31
0.44
0.5
1.63
1.73
2.18
2.71
3.25
2.25
1.65
1.91
Tangible Book Value per Share
294
294
294
273
294
290
294
294
294
294
294
294
297
Basic Weighted Avg Shares
272
743
651
1,019
1,387
2,034
2,233
2,195
3,135
3,163
3,727
1,988
2,053
Sales/Revenue/Turnover
3.81
2.91
3.81
4.24
5.76
5.44
4.78
9.32
8.63
9.2
7.98
-35.89
-35.34
Operating Margin (%)
2
7
12
22
31
45
62
71
75
81
109
75
64
Depreciation Expense
8
15
11
23
53
75
62
137
201
215
-232
-297
-281
Net Income, GAAP
20.59
20.31
23.25
20.79
20.2
21.42
19.61
20.79
19.82
20.36
- -
- -
- -
Effective Tax Rate (%)
2.9
1.98
1.7
2.25
3.82
3.71
2.75
6.22
6.42
6.78
-6.22
-14.96
-13.68
Profit Margin (%)
-15
-4
-48
-26
-170
-49
-119
80
33
340
-201
-35
87
Working Capital
3
2
222
184
147
126
111
117
20
78
49
156
170
LT Debt
36
77
98
142
162
494
528
661
821
981
691
496
588
Total Equity
- -
16.73
6.48
8.4
16.51
13.23
8.03
13.12
18.39
20.02
- -
- -
- -
Return on Invested Capital (%)
- -
18.58
6.76
8.91
15.68
13.37
7.58
12.87
17.8
19.27
- -
- -
- -
Return on Capital (%)
- -
25.86
12.94
19.78
35.88
23.26
12.14
23.2
27.5
24.16
-28.29
-50.97
-42.44
Return on Common Equity (%)

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
206
183
208
LT Borrowings
139
130
151
LT Finance Leases
17
18
19
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
294
302
303
Market Capitalization
512
429
612

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
990
2,159
1,849
Cash, Cash Equivalents & STI
98
972
1,429
Accounts Receivable, Net
323
904
52
Inventories
8
8
8
Total Current Liabilities
1,025
2,148
1,762
Payables & Accruals
554
322
462
ST Debt
206
183
208
Deferred Revenue
250
1,581
1,084

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
30.95%
2.21%
-28.26%
Free Cash Flow
31.84%
-156.29%
-168.83%
Net Income, GAAP
23.39%
-0.72%
28.37%
Sales/Revenue/Turnover
14.99%
2.64%
-46.65%
Total Cash Common Dividend
- -
97.85%
-100%

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
949
998
834
946
3,727
2025
824
950
-329
543
1,988
2026
991
848
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.18
0.16
0.03
-1.15
-0.79
2025
0.13
0.09
-1.33
0.09
-1.01
2026
0.13
0.15
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.21
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
CAZ (Thailand) Public Company Limited CAZ (Thailand) Public Company Limited provides engineering, procurement, and construction (EPC) services together with fabrication works primarily for the oil and gas, petrochemical, chemical, energy, and power plant sectors in Thailand. The company offers comprehensive solutions including structural mechanical piping and electrical instrument services; civil construction services such as foundation, infrastructure, and building works; mechanical fabrication of structures, vessels, heat exchangers, and tanks; structure erection, piping fabrication and erection, equipment erection, and electric and instrument works encompassing pre-commissioning and commissioning; as well as construction management for industrial and energy projects. Founded in 2014 and headquartered in Rayong, Thailand, CAZ (Thailand) serves clients through lump sum turnkey execution across power plants, petrochemical plants, industrial plants, and refineries, with operations centered in Thailand. In recent developments, the company signed multiple construction contracts totaling 7.33 billion baht with the PSEAL, SSING, and SET Joint Venture for the Clean Fuel Project (CFP) in Chonburi Province as of late 2024; entered a significant EPCC contract as part of the PEC-CAZ Consortium with Gulf Development Public Company Limited and PTT Tank Terminal Company Limited for the Map Ta Phut industrial port phase 3 superstructure development to bolster Thailand's LNG handling capacity in June 2025; and continues to execute backlog projects while pursuing certifications like Thai Private Sector Collective Action Against Corruption expected in 2024.