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Issara Real Estate Investment Trust

Issara Real Estate Investment Trust

SSET:ISSARA
5.05
THB
+0.05
(+1.00%)
0.53EPS
12.62P/E
670.00MMarket 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
1.05
1.07
1.07
1.09
1.18
1.27
1.26
1.25
1.07
1.11
1.1
- -
1.21
1.17
Basic EPS, GAAP
0.06
-0.14
0.14
0.03
0.2
0.98
0.18
0.68
0.92
0.69
0.56
- -
0.59
0.53
Free Cash Flow per Basic Share
0.55
0.57
0.66
0.68
0.62
0.76
0.87
0.7
0.68
0.55
0.67
- -
0.46
0.56
Dividend per Share
0.6
0.57
0.63
0.64
0.69
0.78
0.8
0.75
0.66
0.61
0.65
- -
- -
- -
Book Value per Share
12.26
12.12
12.26
12.29
12.49
13.47
13.66
13.59
13.85
13.93
13.84
6.72
13.62
13.63
Tangible Book Value per Share
12.26
12.12
12.26
12.29
12.49
13.47
13.66
13.59
13.85
13.93
13.84
6.72
13.62
13.63
Basic Weighted Avg Shares
100
100
100
100
100
100
100
100
100
100
100
200
100
100
Sales/Revenue/Turnover
105
107
107
109
118
127
126
125
107
111
110
- -
121
117
Operating Margin (%)
63.54
64.55
61.37
63.99
65.23
65.89
63.63
65.32
61.88
61.75
61.11
- -
55.48
53.8
Depreciation Expense
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Net Income, GAAP
66
43
77
67
88
176
98
68
92
69
56
- -
59
53
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Profit Margin (%)
62.86
40.12
72.06
61.02
74.5
139.13
77.97
54.55
85.9
62.27
50.78
- -
48.72
45.39
Working Capital
3
9
3
7
2
-2
14
8
13
5
6
3
-23
-28
LT Debt
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
129
115
Total Equity
1,226
1,212
1,226
1,229
1,249
1,347
1,366
1,359
1,385
1,393
1,384
1,345
1,362
1,363
Return on Invested Capital (%)
5.38
3.52
6.3
5.41
6.2
6.39
5.91
6.01
4.81
4.94
4.83
- -
4.71
4.16
Return on Capital (%)
5.4
3.54
6.33
5.43
7.12
13.57
7.26
5.01
6.67
4.99
4.01
- -
4.67
4.11
Return on Common Equity (%)
0.48
-1.16
1.18
0.26
1.59
7.56
1.36
5.01
6.67
4.99
4.01
- -
4.37
3.9

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
23
22
27
LT Borrowings
129
125
115
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
100
100
100
Market Capitalization
655
710
670

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
3
4
5
Cash, Cash Equivalents & STI
- -
- -
- -
Accounts Receivable, Net
- -
1
- -
Inventories
- -
- -
- -
Total Current Liabilities
26
26
33
Payables & Accruals
3
3
7
ST Debt
23
22
27
Deferred Revenue
- -
- -
- -

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
1.09%
0.06%
1.28%
Free Cash Flow
- -
- -
- -
Net Income, GAAP
- -
- -
- -
Sales/Revenue/Turnover
- -
- -
- -
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
27
27
26
- -
- -
2025
28
31
32
31
121
2026
28
26
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.16
0.15
0.11
- -
- -
2025
0.08
0.15
0.16
0.12
0.59
2026
0.13
0.12
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.16
0.16
0.16
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
Sector
Finance
Industry
Real estate investment trusts
Address
Bangkok Thailand
IPO Date
Dec 11, 2024
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Business
Issara Real Estate Investment Trust (SET: ISSARA) is a Thailand-based real estate investment trust focused on the acquisition, freehold ownership, leasing, and asset management of prime commercial and office properties. Headquartered in Bangkok, Thailand, the trust was established in 2024 through the conversion of the Bangkok Commercial Property Fund (BKKCP), which originally commenced operations in 2003. The trust generates stable, long-term revenue through property leasing, tenancy management, and value-accretive real estate operations across the Bangkok metropolitan area. Issara Real Estate Investment Trust holds freehold title to 195 units encompassing a total net leasable area of approximately 32,949.22 square meters across two flagship multi-tenant commercial buildings: Charn Issara Tower, encompassing 27 commercial and office strata-title units totaling approximately 7,065.53 square meters situated on Rama IV Road, Bang Rak, Bangkok; and Charn Issara Tower 2, encompassing 168 commercial and office units totaling approximately 25,883.69 square meters situated on New Petchaburi Road, Huai Khwang, Bangkok. The trust’s primary offerings and services encompass long-term and flexible commercial office space leasing; ground-floor and podium retail unit leasing; allocated vehicular parking space rentals and management; building common area licensing; and integrated facility management services, including utility provisioning, central air-conditioning, building security, and telecommunications infrastructure access. The trust serves a broad customer base comprising multinational corporations, domestic enterprises, professional service providers, financial institutions, and retail merchants. In major recent operational and corporate developments, the trust successfully executed its structural transformation from a property fund (BKKCP) to a modern real estate investment trust structure, officially listing and commencing trading on the Stock Exchange of Thailand in December 2024. As part of this comprehensive restructuring, the trust established updated governance and operating frameworks by appointing Charn Issara REIT Management Company Limited as the designated REIT manager, Charn Issara Development Public Company Limited as the property manager, and One Asset Management Limited as the trustee, thereby enhancing operational flexibility, liquidity, and portfolio optimization capabilities.