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INET FREEHOLD AND LEASEHOLD REAL ESTATE INVESTMENT TRUST

INET FREEHOLD AND LEASEHOLD REAL ESTATE INVESTMENT TRUST

SSET:INETREIT
12.90
THB
+0.30
(+2.38%)
1.00EPS
12.72P/E
9.33BMarket Cap
Nov 05Next Earn
INET FREEHOLD AND LEASEHOLD REAL ESTATE INVESTMENT TRUST
SET:INETREIT
(Stock Exchange of Thailand)

Recent

price

12.90

P/E

ratio

12.72

div

yld

5.69%

ROIC.AI

2021
2022
2023
2024
2025
TTM
THB
0.49
1.18
1.18
1.2
0.98
1.27
Revenue per Share
0.99
1.49
0.87
1.52
0.73
1
Basic EPS, GAAP
-11.48
0.38
1.65
-3.83
-2.35
-2.26
Free Cash Flow per Basic Share
0.12
0.88
0.77
0.72
0.55
0.73
Dividend per Share
10.46
11.07
11.17
11.15
11.07
11.21
Book Value per Share
10.46
11.07
11.17
11.15
11.07
11.21
Tangible Book Value per Share
337
337
337
509
734
678
Basic Weighted Avg Shares
164
397
399
612
720
862
Sales/Revenue/Turnover
88.45
91.8
91.57
88.43
89.13
89.81
Operating Margin (%)
- -
- -
- -
- -
- -
- -
Depreciation Expense
336
502
295
772
540
677
Net Income, GAAP
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
204.85
126.46
73.95
126.11
74.93
78.56
Profit Margin (%)
347
169
235
237
76
246
Working Capital
980
970
923
1,885
1,709
1,599
LT Debt
3,527
3,733
3,769
5,674
8,128
8,234
Total Equity
- -
7.92
7.77
8.84
7.38
8.92
Return on Invested Capital (%)
- -
11.79
7.39
14.39
7.26
8.74
Return on Capital (%)
- -
13.84
7.86
16.36
7.82
9.72
Return on Common Equity (%)

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
- -
- -
- -
LT Borrowings
1,709
1,654
1,599
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
734
734
734
Market Capitalization
8,373
8,961
9,328

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
274
395
381
Cash, Cash Equivalents & STI
266
384
370
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
199
134
135
Payables & Accruals
133
63
65
ST Debt
- -
- -
- -
Deferred Revenue
65
70
69

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
- -
43.26%
Free Cash Flow
- -
- -
-11.52%
Net Income, GAAP
- -
- -
-30.11%
Sales/Revenue/Turnover
- -
- -
17.63%
Total Cash Common Dividend
- -
- -
9.24%

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
105
159
160
189
612
2025
167
174
175
205
720
2026
241
241
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.09
0.23
0.23
0.98
1.52
2025
0.25
0.27
0.26
0.19
0.73
2026
0.28
0.27
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.13
0.2
0.2
0.2
0.72
2025
0.2
0.2
0.2
0.14
0.55
2026
0.2
0.2
- -
- -
- -
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Business
INET Freehold and Leasehold Real Estate Investment Trust (INETREIT.BK) operates as a real estate investment trust focused on owning and leasing data center properties and related assets in Thailand. The trust invests in buildings, equipment, and leasehold rights tied to the INET-IDC3 Phase 1 data center project, including the substation land; it targets movable properties such as racks, high-technology core network devices, processor units, data storage, and associated software for data center operations. Listed on the Stock Exchange of Thailand since August 9, 2021, INETREIT is managed by INET REIT Management Company Limited, with Kasikorn Asset Management as trustee, and maintains headquarters at 1768 Thai Summit Tower, 24th Floor, New Petchaburi Road, Bangkapi, Huaykwang, Bangkok 10310, Thailand. In March 2024, the trust underwent a significant name change from INET Leasehold Real Estate Investment Trust to its current designation, while retaining the INETREIT.BK ticker; this rebranding reflects an expanded scope to encompass both freehold and leasehold data center real estate investments. Recent strategic developments include a June 2023 board approval by Internet Thailand Public Company Limited for asset dispositions to INETREIT, encompassing land plots, structures, and equipment for the INET-IDC3 Phase 2 project, alongside land resales from Mandala Communication Company Limited and ongoing offerings of additional trust units as announced in October 2025.