Carabao Group Public Company Ltd

Carabao Group Public Company Ltd

52.00
THB
+0.25
(+0.48%)
2.06EPS
22.44P/E
47.25BMarket Cap
Nov 06Next 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
6.86
9.94
7.75
9.94
12.9
14.42
14.93
17.23
17.36
19.22
18.85
20.96
22.04
22.29
Basic EPS, GAAP
0.51
1.22
1.26
1.49
1.25
1.16
2.51
3.53
2.88
2.29
1.92
2.84
2.32
2.11
Free Cash Flow per Basic Share
0.06
-0.45
1.42
-0.59
-2.75
-0.78
2.64
1.96
1.29
1.69
3.04
4.19
2.62
2.48
Dividend per Share
0.52
0.51
0.95
0.94
0.95
0.7
1.1
2.1
2.4
1.75
1.15
1.1
1.4
1.3
Book Value per Share
0.94
6.03
6.33
6.87
7.11
7.18
8.57
9.96
10.21
10.68
11.49
13.21
14.1
14.89
Tangible Book Value per Share
0.93
6.01
6.32
6.32
6.51
6.6
8
9.36
9.56
10.07
10.86
12.6
14.03
14.82
Basic Weighted Avg Shares
1,000
750
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
Sales/Revenue/Turnover
6,863
7,448
7,753
9,943
12,904
14,422
14,933
17,231
17,364
19,215
18,853
20,964
22,042
22,286
Operating Margin (%)
13.16
16.77
17.95
16.05
7.44
9.23
20.56
24.32
18.82
13.53
11.93
16.23
15.78
14.62
Depreciation Expense
107
174
236
226
263
464
534
668
753
813
818
818
790
792
Net Income, GAAP
512
913
1,256
1,490
1,246
1,159
2,506
3,525
2,881
2,286
1,924
2,843
2,320
2,106
Effective Tax Rate (%)
20.25
19.05
14.28
16.53
24.55
27.72
18.6
15.79
15.29
16.13
15.06
17.97
24.33
26.71
Profit Margin (%)
7.46
12.26
16.19
14.98
9.65
8.03
16.78
20.46
16.59
11.9
10.21
13.56
10.52
9.45
Working Capital
-718
1,149
1,590
130
-1,047
-287
-580
-1,663
-46
-1,840
1,519
954
1,863
2,829
LT Debt
2,075
- -
- -
250
2,190
4,065
2,131
1,116
3,469
1,082
3,747
849
1,139
1,311
Total Equity
1,148
6,029
6,333
7,100
7,005
7,365
8,718
10,157
10,111
10,565
11,312
13,091
14,066
14,837
Return on Invested Capital (%)
19.32
19.6
18.96
18.24
7.68
8.41
19.95
25.33
17.75
13.22
11.53
17.19
13.8
12.28
Return on Capital (%)
13.96
17.94
20.34
21.86
18.67
12.75
21.26
25.76
18.71
13.85
12.02
17.86
14.71
13.29
Return on Common Equity (%)
70.53
26.2
20.31
22.56
17.81
16.21
31.84
38.06
28.57
21.89
17.36
23.02
16.99
14.53

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
1,377
1,310
733
LT Borrowings
418
819
758
LT Finance Leases
721
564
554
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,000
1,000
1,000
Market Capitalization
43,500
38,250
47,250

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
5,389
6,571
6,610
Cash, Cash Equivalents & STI
1,483
2,433
2,112
Accounts Receivable, Net
1,452
1,471
1,140
Inventories
1,905
2,036
2,743
Total Current Liabilities
3,526
3,939
3,781
Payables & Accruals
1,919
2,313
2,610
ST Debt
1,377
1,310
733
Deferred Revenue
- -
- -
- -

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.51%
6.85%
7.45%
Free Cash Flow
-23.74%
15.47%
-37.52%
Net Income, GAAP
12.68%
-5.08%
-18.4%
Sales/Revenue/Turnover
11.46%
5.18%
5.14%
Total Cash Common Dividend
9.76%
-4.83%
27.27%

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
4,935
4,954
5,098
5,978
20,964
2025
5,328
5,577
5,496
5,641
22,042
2026
5,321
5,829
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.63
0.69
0.74
0.78
2.84
2025
0.76
0.8
0.62
0.14
2.32
2026
0.61
0.74
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.5
0.6
- -
1.1
2025
- -
0.7
0.7
- -
1.4
2026
- -
0.6
- -
- -
- -

Company Description

CEO
Sathien Setthasit
Full Time Employees
2,756
Sector
Consumer non-durables
Industry
Beverages: non-alcoholic
Address
393 Silom Building Bangkok BM Thailand 10500
IPO Date
Nov 21, 2014
Business
Carabao Group Public Company Limited operates as a Thailand-based holding company engaged primarily in the manufacture, marketing, distribution, and sale of beverages. Its core product portfolio encompasses a wide range of energy drinks, including carbonated and non-carbonated variants under the Carabao brand; functional drinks such as vitamin C beverages under the Woody C+ Lock brand; sports drinks marketed as Carabao Sport; ready-to-drink coffee, including Carabao instant 3-in-1 coffee powder and Carabao ready-to-drink coffee; and bottled drinking water. The company also manufactures and distributes glass bottles and aluminum cans in-house, maximizing production efficiency and cost management through its subsidiaries such as Asia Pacific Glass Co., Ltd. and Asia Packaging Manufacturing Co., Ltd. Carabao Group provides distribution services for both its own branded products and third-party food and non-food products, maintaining a robust distribution network in traditional and modern retail channels across Thailand and international markets, including CLMV countries, the United Kingdom, China, and others. Founded in 2001 and headquartered in Bangkok, Thailand, Carabao Group has expanded its business segments beyond beverages by vertically integrating packaging production and distribution. The group boasts strong production capacity with annual output capabilities of over 1.3 billion glass bottles and aluminum cans production through a joint venture established for beverage cans. This vertical integration supports the supply chain and helps maintain cost competitiveness. The company’s strategic recent activities include reinforcing its market leadership and innovation in the energy drink sector, as evidenced by its participation and recognition at events like Asia CanTech 2025. Additionally, Carabao Group secured a strategic cooperation agreement targeting packaging revenue growth starting in 2026, which is expected to enhance its packaging business substantially. In 2024 and 2025, Carabao has also focused on expanding its product range and strengthening partnerships, notably partnering with Rebellion to amplify brand presence globally and supporting local sports events to elevate brand recognition. Carabao Group’s operations span multiple beverage categories within the consumer non-cyclicals industry, including energy drinks, vitamin and sports drinks, functional beverages, coffee, and water, serving consumer markets primarily in Thailand with growing international reach. The group’s subsidiaries include Carabao Tawandang Co., Ltd., Asia Pacific Glass Co., Ltd., Tawandang DCM Co., Ltd., and Asia Packaging Manufacturing Co., Ltd., supporting a comprehensive and integrated business model that covers manufacturing, packaging, and distribution. This positions Carabao Group as one of Thailand’s leading beverage companies with a distinctive presence in both domestic and international markets. The company remains committed to innovation, operational efficiency, and strategic partnerships to sustain growth and maintain competitive advantage in the dynamic beverage industry landscape. Overall, Carabao Group Public Company Limited leverages its vertically integrated production capabilities, diverse beverage portfolio, and strategic alliances to maintain leadership in energy drinks and expand its presence in functional drinks and other beverage segments, with a clear focus on sustainable growth and market expansion across Southeast Asia and beyond.