CP Axtra Public Company Limited

CP Axtra Public Company Limited

14.20
THB
+0.20
(+1.43%)
0.82EPS
18.07P/E
155.37BMarket 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
26.89
29.55
32.34
35.85
38.71
40
43.7
45.47
46.12
44.05
91.96
77.29
49.65
49.91
Basic EPS, GAAP
0.9
1.03
1.12
1.13
1.29
1.24
1.3
1.35
2.31
0.73
1.63
1.61
0.9
0.82
Free Cash Flow per Basic Share
0.43
0.14
0.07
0.73
1.7
0.68
1.49
2.3
2.23
0.54
3.97
1.62
0.49
- -
Dividend per Share
0.86
0.65
0.82
0.81
0.89
0.96
0.96
0.96
0.83
0.5
1.02
0.92
0.71
0.18
Book Value per Share
2.27
2.63
2.93
3.24
3.62
3.86
4.17
4.58
27.22
27.44
27.69
28.55
28.72
28.72
Tangible Book Value per Share
2.02
2.18
2.29
2.56
2.27
2.47
2.79
3.68
4.27
4.26
4.46
5
4.76
4.73
Basic Weighted Avg Shares
4,800
4,800
4,800
4,800
4,800
4,800
4,800
4,800
5,755
10,580
5,290
6,582
10,428
10,415
Sales/Revenue/Turnover
129,087
141,828
155,217
172,093
185,804
191,997
209,772
218,259
265,398
466,082
486,472
508,745
517,802
519,785
Operating Margin (%)
4.27
4.49
4.54
4.08
4.31
4.07
3.91
4.1
3.95
3.58
3.43
3.66
3.24
3.03
Depreciation Expense
1,331
1,441
1,870
2,100
2,401
2,551
2,723
3,577
6,128
17,551
17,612
17,620
17,464
- -
Net Income, GAAP
4,299
4,922
5,378
5,413
6,178
5,942
6,245
6,499
13,312
7,697
8,640
10,569
9,356
8,588
Effective Tax Rate (%)
20.77
20.7
21.06
19.77
19.73
21.42
21.66
21.91
13.79
26.21
22.77
22.3
22.1
23.13
Profit Margin (%)
3.33
3.47
3.47
3.15
3.33
3.09
2.98
2.98
5.02
1.65
1.78
2.08
1.81
1.65
Working Capital
-8,104
-10,570
-11,358
-15,176
-16,705
-11,096
-9,416
-12,224
-8,395
-3,408
-41,411
-55,915
-56,870
-62,898
LT Debt
166
2,478
4,525
2,745
2,706
7,594
7,552
9,623
150,025
155,745
117,672
115,120
134,815
132,970
Total Equity
11,021
12,787
14,207
15,742
18,011
19,257
20,734
108,263
288,498
290,931
293,473
298,617
300,387
300,738
Return on Invested Capital (%)
30.56
29.72
27.04
24.2
24.51
20.74
20.96
9
3.02
2.66
2.89
3.24
2.83
2.6
Return on Capital (%)
31.68
30.7
27.84
24.81
25.36
21.75
21.91
9.14
4.91
2.81
3.04
3.38
2.95
2.74
Return on Common Equity (%)
39.29
41.35
39.85
36.17
37.13
32.75
32.05
30.6
8.58
2.66
2.96
3.58
3.13
2.86

Capital Structure

THB

•

in mil. unless spec.
Sep'25
Dec'25
Jun'26
ST Debt
50,340
37,258
48,118
LT Borrowings
62,088
79,450
75,700
LT Finance Leases
53,873
55,365
57,270
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
10,428
10,428
10,428
Market Capitalization
234,622
163,714
155,372

Working Capital

THB

•

in mil. unless spec.
Sep'25
Dec'25
Jun'26
Total Current Assets
60,781
74,375
64,472
Cash, Cash Equivalents & STI
11,484
14,558
9,537
Accounts Receivable, Net
3,387
4,044
3,598
Inventories
38,174
46,498
40,882
Total Current Liabilities
131,142
131,245
127,370
Payables & Accruals
78,884
92,082
77,311
ST Debt
50,340
37,258
48,118
Deferred Revenue
- -
- -
- -

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
63.25%
34.11%
0.59%
Free Cash Flow
136.71%
25.72%
-52.32%
Net Income, GAAP
10.59%
17.15%
-11.47%
Sales/Revenue/Turnover
14.34%
21.59%
1.78%
Total Cash Common Dividend
- -
10.18%
22.76%

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
126,157
126,223
123,727
132,638
508,745
2025
129,300
128,448
126,475
133,579
517,802
2026
- -
131,283
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.47
0.21
0.37
0.38
1.61
2025
0.25
0.22
0.18
0.25
0.9
2026
- -
0.18
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
0.36
- -
0.92
2025
- -
- -
0.18
- -
0.71
2026
- -
- -
- -
- -
- -

Company Description

CEO
Tanin Buranamanit
Sector
Retail trade
Industry
Food retail
Address
Bangkok Thailand
IPO Date
Aug 11, 1994
Business
CP Axtra Public Company Limited operates as a wholesale and retail merchandising company, managing cash-and-carry wholesale centers, hypermarkets, supermarkets, convenience stores, and commercial mall spaces. Founded in 1988 and headquartered in Bangkok, Thailand, the company operates as a core retail and distribution subsidiary of CP ALL Public Company Limited and the wider Charoen Pokphand Group. The company conducts business through two primary operational divisions: Wholesale Business and Retail and Mall Business. The Wholesale Business, operated primarily under the Makro and Axtra brands, caters to business-to-business clientele, including hotels, restaurants, caterers, food retailers, institutions, and service businesses. Its product portfolio comprises fresh food, including meat, seafood, poultry, dairy products, fresh fruits, and vegetables; dry food, packaged groceries, and beverages, encompassing grains, cooking oils, canned goods, condiments, snacks, and non-alcoholic drinks; frozen and chilled foods; commercial foodservice supplies, non-food merchandise, and general goods, including commercial kitchen equipment, catering supplies, packaging materials, tableware, cleaning chemicals, personal care items, and office supplies; and proprietary private-label brands, including aro, Savepak, and Q-Biz. In addition to physical cash-and-carry stores, the wholesale division offers foodservice distribution services, cold chain logistics, supply chain management, store development advisory services for independent grocers through the Makro Retailer Alliance, and B2B digital commerce solutions via the Makro PRO application and online platforms. The Retail and Mall Business, operated under the Lotus's and Lotus's Go Fresh brands, serves business-to-consumer retail markets across Southeast Asia. Its product offerings include fresh produce, packaged foods, and ready-to-eat meals; health, beauty, and personal care products; apparel, footwear, and accessories; household appliances, consumer electronics, and home living goods; and Lotus's private-label grocery and household merchandise. The retail division also operates permanent and short-term mall space leasing, tenant management, food court operations, property development within retail complexes, omnichannel grocery fulfillment, last-mile home delivery, and consumer loyalty programs through the Lotus's SMART App and My Lotus's rewards system. Geographically, the company maintains extensive retail and wholesale store networks across Thailand and Malaysia, alongside international wholesale operations and trading offices located in Cambodia, India, China, and Myanmar. In recent developments, the company underwent a corporate rebranding, changing its name from Siam Makro Public Company Limited to CP Axtra Public Company Limited to reflect its integrated wholesale-retail scope and international expansion strategy. Furthermore, the company executed a major corporate amalgamation with Ek-Chai Distribution System Co., Ltd., the operating entity of Lotus's retail business in Thailand, consolidating wholesale and retail operations into a unified corporate structure to eliminate holding complexities, drive operational synergies, unify supply chain and logistics infrastructures, and enhance procurement efficiency. Operationally, CP Axtra continues to accelerate its omnichannel transformation by scaling its B2B Makro PRO and B2C Lotus's SMART App platforms, upgrading mall assets into community smart hubs, and expanding compact store formats, including Lotus's Go Fresh neighborhood stores and specialized food-focused wholesale branches.