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  2. •

    Utilities

  3. •

    Electric utilities
Earth Tech Environment Public Company Limited

Earth Tech Environment Public Company Limited

0.68
THB
+0.01
(+1.49%)
0.24EPS
3.01P/E
1.59BMarket Cap
Nov 05Next Earn
Earth Tech Environment Public Company Limited
SET:ETC
(Stock Exchange of Thailand)

Recent

price

0.68

P/E

ratio

3.01

div

yld

7.05%

ROIC.AI

2018
2019
2020
2021
2022
2023
2024
2025
TTM
THB
0.15
0.16
0.36
0.33
0.33
0.32
0.34
0.34
0.34
Revenue per Share
0.03
0.03
0.1
0.08
0.06
0.01
0.04
0.22
0.24
Basic EPS, GAAP
-0.23
-0.11
0.14
0.17
0.02
-0.07
0.17
0.06
0.04
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
0.05
Dividend per Share
0.37
0.39
1.14
1.22
1.28
1.29
1.34
1.55
1.54
Book Value per Share
0.37
0.39
1.14
1.22
1.28
1.29
1.34
1.55
1.54
Tangible Book Value per Share
2,240
2,240
1,871
2,240
2,240
2,240
2,240
2,240
2,240
Basic Weighted Avg Shares
325
362
671
730
738
708
753
754
761
Sales/Revenue/Turnover
34.44
28.28
41.67
32.83
27.24
21.52
23.85
27.85
25.14
Operating Margin (%)
60
75
106
111
116
116
115
115
117
Depreciation Expense
67
58
194
187
131
31
93
492
528
Net Income, GAAP
0.04
9.41
0.35
- -
1.55
2.46
0.12
8.29
8.63
Effective Tax Rate (%)
20.59
15.93
29
25.66
17.75
4.38
12.41
65.27
69.42
Profit Margin (%)
-188
-183
1,195
1,037
1,141
1,383
1,681
1,164
1,197
Working Capital
972
1,261
1,023
727
951
1,519
1,315
15
16
LT Debt
837
893
2,569
2,762
2,899
2,932
3,030
3,526
3,495
Total Equity
- -
4.04
8.79
- -
4.83
3.19
4.28
13.59
18.63
Return on Invested Capital (%)
- -
4.44
8.44
- -
4.58
3.04
3.93
13.22
13.89
Return on Capital (%)
- -
6.76
11.32
7.08
4.67
1.07
3.17
15.2
16.3
Return on Common Equity (%)

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
131
93
68
LT Borrowings
- -
- -
- -
LT Finance Leases
15
15
16
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2,240
2,240
2,240
Market Capitalization
1,254
1,635
1,590

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,428
1,445
1,357
Cash, Cash Equivalents & STI
1,102
1,129
1,011
Accounts Receivable, Net
66
71
80
Inventories
29
32
36
Total Current Liabilities
265
235
161
Payables & Accruals
134
142
93
ST Debt
131
93
68
Deferred Revenue
- -
- -
- -

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
6.67%
16.37%
Free Cash Flow
- -
-195.06%
-64.73%
Net Income, GAAP
- -
103.59%
426.72%
Sales/Revenue/Turnover
- -
2.46%
0.12%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
183
192
188
190
753
2025
198
169
202
185
754
2026
182
192
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.03
0.01
0.01
0.04
2025
0.01
- -
0.19
0.01
0.22
2026
0.02
0.02
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
0.05
- -
- -
- -
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Business
Earth Tech Environment Public Company Limited (ETC.BK) engages primarily in the generation and distribution of electricity from alternative energy sources, including non-hazardous industrial waste, municipal waste, and solid recovered fuel (SRF); it also provides electricity plant engineering design, procurement of machinery and equipment, and integrated engineering, procurement, and construction (EPC) services, alongside operations and maintenance (O&M) for power plants. The company operates through two main segments—Power business, which includes very small power producer (VSPP) facilities selling electricity to the Provincial Electricity Authority (PEA) under Feed-in Tariff (FiT) agreements, and Construction—offering specialized systems such as air quality control, water management, dust removal, and transportation solutions for industrial applications. Its key assets encompass a 9.4-megawatt plant in Kaeng Khoi Industrial Estate, Saraburi Province; 7.0-megawatt facility in Nakhon Luang Industrial Estate, Ayutthaya Province; and 4.0-megawatt plant in Phichit Industrial Estate, with subsidiaries including AVA Grand Energy Company Limited (AVA), Link 88 Power Company Limited, Earth Engineering and Construction Company Limited (EEC), and others supporting waste-to-energy operations. Founded in 2004 and headquartered at 88/1 Moo 1, Sara Buri, Thailand, ETC transformed to a public company in 2019, listed initially on the Market for Alternative Investment (mai) in December 2020 before moving to the Stock Exchange of Thailand (SET) in the resources sector's energy and utilities industry, with operations focused on Thailand's industrial estates. Recent developments include the commercial operation launches of RH and AVA power plants in 2019 using industrial waste; establishment of EEC in 2017 for in-house EPC and O&M; a 2020 initial public offering raising capital through 600 million new shares; and a memorandum of understanding with Better World Green Public Company Limited to combat corruption, alongside ongoing 2024 earnings reports amid economic challenges.