1. Thailand Stocks

  2. •

    Consumer durables

  3. •

    Home furnishings
Modernform Group Public Co. Ltd.

Modernform Group Public Co. Ltd.

1.96
THB
0.00
(0.00%)
0.13EPS
16.56P/E
1.39BMarket Cap
Modernform Group Public Co. Ltd.
SET:MODERN.R
(Stock Exchange of Thailand)

Recent

price

1.96

P/E

ratio

16.56

div

yld

0.00%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
THB
3.65
3.82
4.3
4.7
5
5.07
4.33
4.11
4.41
4.2
3.92
3.24
3.09
3.37
3.42
2.99
3.01
Revenue per Share
0.56
0.52
0.57
0.57
1.05
0.88
0.23
0.29
0.18
0.17
0.19
0.12
0.05
0.08
0.19
0.14
0.12
Basic EPS, GAAP
0.1
0.51
0.26
0.5
0.35
0.31
-0.15
0.29
-0.09
0.68
0.45
0.22
-0.14
0.38
0.34
0.35
0.25
Free Cash Flow per Basic Share
0.45
0.45
0.45
0.55
1
1.05
0.35
0.25
0.3
0.15
0.17
0.2
0.07
0.06
0.09
0.17
- -
Dividend per Share
2.77
2.78
3.49
3.49
3.58
3.39
3.24
3.38
3.16
3.09
3.09
3.09
3.04
3.07
3.19
3.15
3
Book Value per Share
2.72
2.76
3.46
3.44
3.55
3.37
3.23
3.37
3.15
3.07
3.07
3.07
3.02
3.05
3.17
3.14
2.99
Tangible Book Value per Share
764
720
720
744
750
750
750
750
750
739
745
734
781
750
726
726
713
Basic Weighted Avg Shares
2,783
2,752
3,094
3,494
3,746
3,802
3,245
3,082
3,305
3,109
2,924
2,377
2,417
2,525
2,482
2,168
2,145
Sales/Revenue/Turnover
10.07
7.33
14.77
12.31
11.43
9.88
6.32
7.81
6.1
6.08
5.53
5.69
2.34
3.29
4.62
3.52
3.53
Operating Margin (%)
105
109
95
97
221
201
109
112
112
105
108
103
97
97
96
80
67
Depreciation Expense
427
374
409
420
785
662
173
216
137
126
142
88
39
60
135
103
89
Net Income, GAAP
25.27
22.89
19.77
17.02
19.93
25.61
18.55
19.43
34.58
33.4
18.25
23.35
33.42
24.59
12.72
19.81
24
Effective Tax Rate (%)
15.35
13.57
13.23
12.03
20.95
17.42
5.33
7
4.15
4.04
4.84
3.71
1.62
2.38
5.44
4.75
4.13
Profit Margin (%)
1,004
1,024
1,034
1,424
1,617
1,494
1,303
1,374
1,315
1,409
1,398
1,398
1,295
1,379
1,271
1,293
1,181
Working Capital
- -
- -
- -
140
132
- -
- -
- -
- -
- -
44
26
43
23
40
29
33
LT Debt
2,317
2,337
2,548
3,166
3,085
2,587
2,445
2,559
2,390
2,331
2,327
2,323
2,285
2,307
2,160
2,136
2,036
Total Equity
14.01
8.4
9.99
13.91
21.61
20.23
6.86
8.76
4.9
5.28
6.11
4.28
1.64
2.77
4.37
3.98
3.75
Return on Invested Capital (%)
17.45
15.65
16.13
13.87
21.76
20.49
6.71
8.11
5.39
5.21
5.77
3.7
1.68
2.61
5.45
4.3
3.78
Return on Capital (%)
17.63
16.19
16.96
15.86
28.66
25.34
6.96
8.68
5.59
5.36
6.11
3.8
1.7
2.62
6.06
4.81
4.37
Return on Common Equity (%)

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
228
249
287
LT Borrowings
- -
- -
- -
LT Finance Leases
29
33
33
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
675
675
675
Market Capitalization
1,485
1,404
1,391

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
2,016
2,084
2,058
Cash, Cash Equivalents & STI
718
786
680
Accounts Receivable, Net
248
231
278
Inventories
851
879
899
Total Current Liabilities
723
821
877
Payables & Accruals
240
268
293
ST Debt
228
249
287
Deferred Revenue
240
286
286

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-1.84%
-1.67%
-1.12%
Free Cash Flow
-203.49%
-117%
2.75%
Net Income, GAAP
-2%
12.26%
-23.75%
Sales/Revenue/Turnover
-5.12%
-5.38%
-12.64%
Total Cash Common Dividend
-4.36%
13.66%
79.99%

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
457
624
664
737
2,482
2025
458
547
527
635
2,168
2026
448
535
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.08
0.1
0.09
0.09
0.19
2025
0.01
0.01
0.02
0.1
0.14
2026
-0.02
0.03
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.09
2025
- -
- -
- -
- -
0.17
2026
- -
- -
- -
- -
- -
Similar Companies
Turkiye Sise ve Cam Fabrikalari A.S. (BIST:SISE)
Oriental Weavers Carpet (EGX:ORWE)
Cello World Limited (NSE:CELLO)
Koleksiyon Mobilya Sanayi AS (BIST:KLSYN)
Asahi India Glass Limited (NSE:ASAHIINDIA)
Cagdas Cam Sanayi ve Ticaret AS (BIST:CGCAM)
Business
Modernform Group Public Company Limited manufactures and distributes office furniture, residential furniture, kitchen units, and related products in Thailand. The company offers office systems including workspaces, executive desks, meeting and conference tables, lounge areas, collaboration spaces, storage solutions, ergonomic chairs, adjustable desks, and working accessories under brands such as Steelcase and Itoki; home furniture encompassing living room, dining room, bedroom, and Modernspace series items; kitchen solutions with cabinets and accessories; walk-in closets and storage sets; hardware and fittings including furniture fittings, architectural hardware, surfacing and flooring materials, fire-rated and decorative doors, and elevator decorations under Higold; as well as architectural design and construction services, office rental services, and health care products for hospitals, rehabilitation facilities, and residences. Founded in 1930 and headquartered at 699 Srinakarindr Road, Suan Luang, Bangkok, the company operates primarily in Thailand through subsidiaries such as Modernform Health and Care (95%-owned), Modernform Tower (100%-owned), Itoki Modernform (49%-owned joint venture), Workscape (40%-owned), and Built Dee (49%-owned), with a paid-up capital of 750 million Baht and listing on the Stock Exchange of Thailand since March 11, 1992. Recent developments include the acquisition of a 60% stake in MOTIF for 108 million Baht to expand into luxury furniture sales and marketing channels featuring premium European, US, and Asian brands; a collaboration with Chateau d'Ax to introduce luxury Italian furniture in June 2024; achievement of ISO 14064-1 and CFO sustainability certifications in June 2024; and the launch of the Steelcase KARMAN ergonomic chair in September 2023.