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Maybank Securities (Thailand) Public Company Limited

Maybank Securities (Thailand) Public Company Limited

7.60
THB
0.00
(0.00%)
0.60EPS
12.28P/E
4.22BMarket Cap
Maybank Securities (Thailand) Public Company Limited
SET:MST
(Stock Exchange of Thailand)

Recent

price

7.60

P/E

ratio

12.28

div

yld

1.57%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
THB
4.67
4.69
4.56
6.47
5.96
4.91
5.18
4.55
3.69
3.77
5.12
6.06
4.78
4.15
3.97
3.32
3.82
Revenue per Share
1.42
1.15
1.3
2.49
2.21
1.79
1.71
1.12
0.69
0.45
0.85
1.33
1.1
0.64
0.81
0.39
0.6
Basic EPS, GAAP
-1.73
-0.85
-6.61
-1.45
-6.89
-0.07
5.93
-2.16
1.27
1.39
-1.6
-9.4
8.3
3.46
1.4
11.52
6.82
Free Cash Flow per Basic Share
1.25
1.53
0.88
1.54
2.87
1.9
1.54
1.6
0.86
0.97
0.28
0.98
0.81
0.98
0.49
0.39
0.12
Dividend per Share
8.15
7.8
7.96
9.24
8.56
8.44
8.61
8.16
7.97
7.47
8.06
8.43
8.8
8.51
8.88
8.9
9.18
Book Value per Share
8.11
7.76
7.9
9.17
8.46
8.36
8.53
8.04
7.93
7.43
8.02
8.37
8.7
8.41
8.8
8.83
9.12
Tangible Book Value per Share
569
569
571
570
572
569
570
570
567
566
570
572
571
570
571
565
573
Basic Weighted Avg Shares
2,657
2,670
2,599
3,691
3,408
2,794
2,955
2,592
2,091
2,135
2,915
3,467
2,731
2,367
2,266
1,878
2,187
Sales/Revenue/Turnover
49.86
21.33
23.02
31.93
29.17
20.72
30.22
19.21
6.19
17.63
32.11
31.08
31.28
23.75
24.96
14.91
23.8
Operating Margin (%)
52
59
72
87
88
102
103
96
81
59
135
131
134
134
129
126
118
Depreciation Expense
806
654
744
1,421
1,264
1,019
974
639
391
255
484
761
628
365
462
221
345
Net Income, GAAP
30.4
32.03
24.28
20.47
20.48
20.46
20.35
20.25
20.22
20.01
19.27
19.89
19.92
20.7
20.22
20.48
20.07
Effective Tax Rate (%)
30.32
24.5
28.62
38.49
37.09
36.48
32.98
24.64
18.71
11.93
16.62
21.94
23
15.42
20.39
11.74
15.79
Profit Margin (%)
- -
4,767
6,265
7,511
9,886
6,814
5,841
6,413
6,754
3,662
8,010
989
1,831
2,852
3,210
5,087
4,867
Working Capital
344
611
2,007
2,587
5,744
2,506
1,732
4,009
2,974
1,304
6,641
176
105
51
9
26
139
LT Debt
4,637
4,441
4,543
5,276
4,884
4,819
4,914
4,655
4,561
4,277
4,602
4,814
5,021
4,856
5,068
5,080
5,242
Total Equity
17.12
7.63
6.57
9.73
6.27
3.21
5.25
2.89
0.78
2.17
5.21
4.59
3.38
2.57
2.72
1.64
3.78
Return on Invested Capital (%)
16.91
15.01
13.09
18.27
12.66
9.55
9.35
6.79
4.62
3.65
4.59
5.05
4.1
4.18
4.9
3.56
5.14
Return on Capital (%)
17.58
14.41
16.56
28.93
24.89
21.01
20.02
13.35
8.49
5.76
10.91
16.16
12.78
7.39
9.31
4.35
6.72
Return on Common Equity (%)

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
5,796
5,403
4,517
LT Borrowings
- -
1,000
- -
LT Finance Leases
26
141
139
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
571
571
571
Market Capitalization
3,824
3,882
4,224

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
13,569
16,618
13,883
Cash, Cash Equivalents & STI
376
882
816
Accounts Receivable, Net
12,981
15,662
12,780
Inventories
- -
- -
- -
Total Current Liabilities
8,482
11,062
9,016
Payables & Accruals
2,685
5,659
4,499
ST Debt
5,796
5,403
4,517
Deferred Revenue
- -
- -
- -

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
0.63%
2.05%
0.24%
Free Cash Flow
-861.38%
180.19%
715.94%
Net Income, GAAP
-5.03%
-5.59%
-52.28%
Sales/Revenue/Turnover
-2.42%
-7.41%
-17.15%
Total Cash Common Dividend
6.34%
36.65%
-20.41%

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
560
354
585
598
2,266
2025
258
-31
468
431
1,878
2026
593
695
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.3
0.08
0.26
0.17
0.81
2025
0.23
- -
0.11
0.04
0.39
2026
0.31
0.14
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
0.38
- -
0.49
2025
- -
- -
0.12
- -
0.39
2026
- -
- -
- -
- -
- -
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Business
Maybank Securities (Thailand) Public Company Limited (MST.BK) operates as a full-service securities brokerage and investment banking firm in Thailand, providing brokerage services for equity and derivatives trading on the Stock Exchange of Thailand (SET) and derivatives on the Thailand Futures Exchange (TFEX); investment advisory services; underwriting and financial advisory for corporate finance transactions, including initial public offerings, rights issues, and mergers and acquisitions; asset management through mutual funds and private funds; and research services covering Thai equities, fixed income, and macroeconomic analysis. The company serves retail investors, high-net-worth individuals, institutional clients, and corporations, with a primary focus on the Thai market while leveraging affiliations with the broader Maybank Group for regional insights. Established in 1992 and headquartered in Bangkok, Thailand, it maintains branch offices across major Thai cities to support its nationwide operations. In recent developments, Maybank Securities (Thailand) expanded its digital trading capabilities with the launch of enhanced mobile trading platforms and algorithmic trading tools in 2024, aiming to capture growing retail participation amid rising market volatility. The firm also strengthened its investment banking franchise through a strategic alliance with Maybank Investment Bank Berhad in 2025, facilitating cross-border deal flow for Thai issuers into ASEAN markets, and participated in several high-profile equity offerings on the SET. Additionally, it introduced new sustainable investment products, including ESG-focused mutual funds, aligning with Thailand's regulatory push for green finance.