1. Thailand Stocks

  2. •

    Industrial services

  3. •

    Engineering & construction
Christiani & Nielsen Thailand Public Co. Ltd.

Christiani & Nielsen Thailand Public Co. Ltd.

2.98
THB
-0.04
(-1.32%)
0.21EPS
7.59P/E
1.67BMarket Cap
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
8.91
9.39
7.3
6.95
7.81
6.93
7.04
7.32
6.01
5.19
7
5.91
7.23
9.95
Basic EPS, GAAP
0.44
-0.35
0.02
0.14
0.09
-0.36
0.07
0.07
-0.13
-0.21
0.03
0.05
0.08
0.21
Free Cash Flow per Basic Share
-0.3
0.3
-0.36
0.52
-0.24
0.3
-0.17
0.59
0.13
-0.3
-1
0.67
0.11
0.79
Dividend per Share
0.26
0.1
- -
0.05
0.11
0.05
- -
0.04
0.05
- -
- -
- -
0.04
- -
Book Value per Share
2.14
1.69
1.71
1.8
1.91
1.5
2.01
2.02
1.85
1.59
1.62
1.66
1.72
1.84
Tangible Book Value per Share
2.14
1.69
1.7
1.78
1.89
1.48
1.98
2
1.83
1.57
1.6
1.64
1.7
1.83
Basic Weighted Avg Shares
1,003
1,003
1,003
1,003
1,005
1,028
1,028
1,028
1,028
1,028
1,028
1,028
1,028
1,028
Sales/Revenue/Turnover
8,933
9,413
7,322
6,972
7,851
7,123
7,240
7,526
6,174
5,330
7,198
6,071
7,429
10,224
Operating Margin (%)
4.5
-4.19
0.78
1.63
0.97
-5.51
0.93
1.31
-1.63
-4.97
0.49
0.03
0.79
1.95
Depreciation Expense
79
141
154
176
219
225
216
205
167
142
114
110
103
111
Net Income, GAAP
442
-353
23
140
94
-368
73
75
-129
-213
29
50
78
219
Effective Tax Rate (%)
- -
- -
56.04
- -
16.5
- -
17.41
7.28
- -
- -
64.09
- -
- -
- -
Profit Margin (%)
4.95
-3.75
0.32
2.01
1.2
-5.17
1.01
1
-2.09
-4
0.4
0.82
1.05
2.15
Working Capital
1,162
651
652
725
758
220
285
358
156
-156
-276
-344
-367
-357
LT Debt
163
272
280
230
313
231
159
74
19
54
45
158
322
444
Total Equity
2,179
1,725
1,749
1,839
1,983
1,564
2,087
2,103
1,926
1,649
1,677
1,716
1,753
1,854
Return on Invested Capital (%)
- -
- -
1.67
- -
3.52
- -
3.6
3.59
- -
- -
0.66
- -
- -
- -
Return on Capital (%)
- -
- -
1.25
- -
4.79
- -
3.81
3.62
- -
- -
2.02
- -
- -
- -
Return on Common Equity (%)
21.68
-18.39
1.36
7.98
5.02
-21.04
4.05
3.64
-6.47
-12.06
1.76
2.96
4.5
12.2

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
740
597
354
LT Borrowings
255
359
347
LT Finance Leases
67
73
98
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,028
1,028
1,028
Market Capitalization
1,038
1,048
1,665

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
3,834
4,931
5,555
Cash, Cash Equivalents & STI
188
353
186
Accounts Receivable, Net
1,463
2,286
2,126
Inventories
90
130
350
Total Current Liabilities
4,201
5,266
5,913
Payables & Accruals
2,224
2,711
3,868
ST Debt
740
597
354
Deferred Revenue
952
1,638
1,282

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
0.94%
-3.33%
2.12%
Free Cash Flow
-165.64%
-86.53%
-83.98%
Net Income, GAAP
-32.43%
-38.16%
56.39%
Sales/Revenue/Turnover
1.43%
2.02%
22.37%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,260
1,380
1,655
1,776
6,071
2025
1,759
1,685
2,050
1,936
7,429
2026
2,509
3,729
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.02
0.02
0.01
0.05
2025
0.03
0.01
0.02
0.01
0.08
2026
0.02
0.15
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
0.04
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Khushroo Kali Wadia
Full Time Employees
5,258
Sector
Industrial services
Industry
Engineering & construction
Address
727 La Salle Road Bangkok BM Thailand 10260
IPO Date
Mar 1, 1991
Website
cn-thai.co.th
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Business
Christiani & Nielsen (Thai) Public Company Limited provides construction services to government and private sectors in Thailand. The company operates in two segments, Construction and Sales and Service; it engages in the design and construction of building and civil engineering projects, design, fabrication and erection of steel structures, mechanical and electrical installations; it offers energy solutions in solar, wind and other renewable energy sectors through subsidiaries including CNES, which develops and manages solar power projects via Power Purchase Agreements and turnkey Engineering, Procurement and Construction services, and provides solar solutions to hospitality, manufacturing, healthcare and electronics clients; its subsidiary CNDCM focuses on high-end hotel, resort and residential construction, particularly in Phuket. Founded in 1904 and headquartered at 727 La Salle Road, Bangna Tai, Bangna, Bangkok, Thailand, the company, a subsidiary of Globex Corporation Limited, serves domestic markets with over 6,964 employees and more than 2,000 completed projects. In 2025, it shifted to in-house steel structure fabrication for improved cost control and timelines, boosting gross margins to 5.2% for the nine months ended September 30 with revenue up 26.4% to THB 5,508 million and net profit rising 34.3% to THB 41.5 million; it secured contracts worth THB 9,670 million from 48 tenders, targeting data centers, EV plants and energy infrastructure amid a THB 10 billion backlog; CNES won solar PPAs for hospitality and manufacturing clients plus EPC projects for healthcare and audio electronics firms while pursuing 15 more; CNDCM advanced Phuket projects including a 70% complete Layan Beach residential development targeting April 2026 handover and Nai Harn Beach luxury hotel piling works; a subsidiary obtained THB 370 million financing for solar equipment investments; and it acquired a 12-rai Phuket land parcel for THB 173 million to support future property development.