1. Thailand Stocks

  2. •

    Finance

  3. •

    Investment banks/Brokers
FNS Holdings Public Company Limited

FNS Holdings Public Company Limited

0.54
THB
-0.04
(-6.90%)
-1.47EPS
275.36MMarket Cap
FNS Holdings Public Company Limited
SET:FNS.R
(Stock Exchange of Thailand)

Recent

price

0.54

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
THB
1.89
1.42
3.62
0.58
0.65
1.99
1.66
1.84
2.02
0.81
2.17
0.13
0.26
0.54
0.55
0.69
0.75
Revenue per Share
0.05
-0.99
-0.27
0.32
0.23
2.28
0.53
0.54
0.25
-0.24
0.65
-0.12
0.3
2.42
-6.09
-1.38
-1.47
Basic EPS, GAAP
-1.11
0.89
-0.36
-0.95
-2.08
-2.65
-0.81
0.87
-1.16
0.16
-0.6
0.06
-0.94
-2.36
-10.33
1.33
0.09
Free Cash Flow per Basic Share
0.17
- -
- -
- -
- -
0.3
0.1
0.1
0.14
0.15
0.15
0.5
0.5
0.17
- -
- -
- -
Dividend per Share
10.24
9.42
6.2
6.5
6.6
8.54
8.85
9.23
8.16
7.74
8.11
7.57
7.43
9.4
4.11
2.36
1.78
Book Value per Share
8.55
7.71
5.2
5.66
3.04
2.33
2.86
3.47
4.22
3.96
7.65
7.11
7.3
9.21
4.04
2.31
1.73
Tangible Book Value per Share
145
145
126
234
247
247
247
247
257
346
346
346
346
413
501
501
502
Basic Weighted Avg Shares
274
206
457
136
161
493
410
455
518
279
750
44
89
221
276
345
376
Sales/Revenue/Turnover
-15.68
-58.66
7.58
-63.79
-28.61
18.7
24.15
27.47
24.95
-7.22
36.63
-69.76
-18.05
-50.43
-113.52
-110.86
-89.49
Operating Margin (%)
43
48
29
24
27
56
67
67
68
72
49
13
6
104
347
109
110
Depreciation Expense
8
-143
-34
74
56
563
131
132
64
-83
223
-42
105
998
-3,048
-691
-737
Net Income, GAAP
60.66
- -
- -
2.86
- -
1.52
5.25
12.52
24.24
- -
9.36
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
2.84
-69.67
-7.43
54.45
34.97
114.22
31.89
29.08
12.37
-29.6
29.76
-96.51
118.47
450.64
-1,104.04
-200.32
-196.18
Profit Margin (%)
144
-291
-16
235
-35
73
-58
7
861
675
488
833
635
-1,314
450
424
276
Working Capital
- -
- -
- -
- -
350
720
770
730
1,171
1,043
643
672
370
9,821
939
916
904
LT Debt
1,303
1,174
1,318
1,605
1,630
2,111
2,185
2,280
2,822
2,675
2,806
2,617
2,570
7,617
2,058
1,182
891
Total Equity
0.2
- -
- -
-4.3
- -
20.19
3.9
3.88
2.15
- -
5
- -
-0.71
- -
- -
- -
- -
Return on Invested Capital (%)
2.09
- -
- -
4.97
- -
21.63
5.54
5.24
2.81
- -
7.41
- -
4.29
- -
- -
- -
- -
Return on Capital (%)
0.61
-11.7
-2.73
5.07
3.49
30.09
6.08
5.93
2.51
-3
8.15
-1.56
4.04
27.42
-90.12
-42.66
-59.57
Return on Common Equity (%)

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
230
226
285
LT Borrowings
- -
- -
- -
LT Finance Leases
916
911
904
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
501
501
501
Market Capitalization
421
255
275

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
831
758
715
Cash, Cash Equivalents & STI
74
32
35
Accounts Receivable, Net
62
60
59
Inventories
13
12
13
Total Current Liabilities
408
382
439
Payables & Accruals
97
85
81
ST Debt
230
226
285
Deferred Revenue
80
71
73

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
10.36%
14.46%
-42.56%
Free Cash Flow
-236.24%
-250.2%
-112.86%
Net Income, GAAP
-82.59%
-19.92%
-77.32%
Sales/Revenue/Turnover
33.88%
41.62%
25%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
139
95
120
-1,047
276
2025
94
93
71
87
345
2026
122
96
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.27
-0.9
-0.48
-4.64
-6.09
2025
-0.35
-0.23
-0.38
-0.43
-1.38
2026
-0.2
-0.46
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
Similar Companies
Robinhood Markets, Inc. (NASDAQ:HOOD)
Coinbase Global, Inc. (NASDAQ:COIN)
BSE Ltd. (NSE:BSE)
Goldman Sachs Group, Inc. (The) (NYSE:GS)
Multi Commodity Exchange of India Limited (NSE:MCX)
National Stock Exchange of India Limited (BSE:NSE)
Business
FNS Holdings Public Company Limited (FNS.BK), an investment holding company founded in 1989 and headquartered at 345 Surawong Road, 6th Floor, Surawong Building, Suriyawong, Bangrak, Bangkok 10500, Thailand, invests in and provides finance and management advisory services through its subsidiaries and affiliates across health and wellness, real estate development and investment, warehouse and factory leasing, and direct investment segments. Core holdings include a 49.5% stake in MK Real Estate Development Plc., an SET-listed developer focused on warehouse development for lease via Prospect Development Co., Ltd., including a joint venture for an 88,000 sqm distribution center for Siam Makro Plc., and health and wellness operations under RX Wellness Co., Ltd., encompassing holistic healthcare centers such as RAKxa Bangkrachao and RXV Sampran; investments in Prospect Logistics and Industrial Freehold and Leasehold REIT with total assets of approximately Bt5,500 million; a 50% interest in BFTZ Wangnoi Co., Ltd., developer of an 88,000 sqm distribution center for CP Axtra PCL; and direct investments like Kanom Café Company Limited, operator of a bakery and restaurant chain, and Finansa Fund Management Ltd., managing private equity including NEO Corporate Plc. The company operates primarily in Thailand, targeting real estate developers, REITs, logistics firms, consumer goods companies, and wellness customers. In recent developments, FNS increased its stake in MK Real Estate from 31.51% to 49.5% in August 2023 via a THB 772.1 million rights issue, triggering full consolidation and a one-off gain of THB 674 million; executed a group restructuring in 2024 under which it acquired RX Wellness operations and assets from MK in exchange for transferring warehouse interests including Prospect REIT units and BFTZ Wangnoi, optimizing asset allocation and shifting FNS toward asset-light wellness focus amid expected short-term losses but long-term growth potential; facilitated Prospect Development's sales of Bt1.9 billion in assets to Prospect REIT in Q1 2023 and planned c.140,000 sqm warehousing sale in Q4 2024; and completed partial divestment of NEO Corporate via its March 2024 SET IPO, generating over THB 1.0 billion in cash with remaining shares sold in the secondary market, while reporting 2024 consolidated revenues from business operations of Bt113.9 million and total income of Bt305.0 million. Formerly Finansa Public Company Limited, it changed its name to FNS Holdings Plc in May 2022 following divestitures of securities subsidiaries.