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    Finance/Rental/Leasing
Next Capital Public Co., Ltd.

Next Capital Public Co., Ltd.

3.38
THB
-0.02
(-0.59%)
0.48EPS
5.44P/E
3.54BMarket Cap
Next Capital Public Co., Ltd.
SET:NCAP
(Stock Exchange of Thailand)

Recent

price

3.38

P/E

ratio

5.44

div

yld

- -

ROIC.AI

2018
2019
2020
2021
2022
2023
2024
2025
TTM
THB
1.06
1.28
1.23
1.3
1.47
1.32
1.35
1.44
1.51
Revenue per Share
0.12
0.17
0.25
0.35
0.14
0.19
0.18
0.41
0.48
Basic EPS, GAAP
-1.38
-0.5
0.49
-1.34
-1.78
-1.17
-0.05
0.14
0.03
Free Cash Flow per Basic Share
- -
- -
0.22
- -
- -
- -
- -
0.02
- -
Dividend per Share
0.83
0.95
1.51
1.79
3.13
3.31
3.48
3.88
4.12
Book Value per Share
0.82
0.92
1.48
1.76
3.1
3.28
3.45
3.84
4.09
Tangible Book Value per Share
738
738
796
900
1,147
1,350
1,350
1,350
1,350
Basic Weighted Avg Shares
780
946
981
1,172
1,691
1,781
1,816
1,945
2,040
Sales/Revenue/Turnover
46.93
48.76
11.14
18.03
1.27
8.88
7.99
26.42
30.87
Operating Margin (%)
9
10
26
28
29
33
30
30
31
Depreciation Expense
90
126
202
311
165
260
240
555
650
Net Income, GAAP
22.26
21.91
20.14
20.15
21.4
19.77
20.35
19.51
19.59
Effective Tax Rate (%)
11.52
13.35
20.57
26.53
9.75
14.59
13.2
28.55
31.87
Profit Margin (%)
348
-525
1,256
620
1,902
1,862
2,122
1,541
1,692
Working Capital
1,300
500
1,613
1,897
2,070
2,988
3,002
2,020
2,220
LT Debt
926
1,053
1,676
2,008
4,230
4,467
4,702
5,233
5,559
Total Equity
- -
3.28
5.08
6.6
2.62
3
2.59
5.65
6.35
Return on Invested Capital (%)
- -
6.04
4.83
6.36
2.46
3.01
2.68
5.67
6.18
Return on Capital (%)
- -
12.76
14.78
16.92
5.3
5.98
5.23
11.18
12.37
Return on Common Equity (%)

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
3,206
3,093
3,070
LT Borrowings
1,983
1,921
2,179
LT Finance Leases
37
41
41
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,350
1,350
1,350
Market Capitalization
4,023
3,429
3,537

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
5,110
4,979
5,167
Cash, Cash Equivalents & STI
356
79
80
Accounts Receivable, Net
1
1
1
Inventories
- -
- -
- -
Total Current Liabilities
3,570
3,472
3,475
Payables & Accruals
343
362
390
ST Debt
3,206
3,093
3,070
Deferred Revenue
- -
- -
- -

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
30.52%
11.3%
Free Cash Flow
- -
-163.72%
-364.32%
Net Income, GAAP
- -
37.73%
131.65%
Sales/Revenue/Turnover
- -
15.63%
7.09%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
449
452
452
464
1,816
2025
475
484
489
498
1,945
2026
517
537
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.02
0.04
0.05
0.07
0.18
2025
0.1
0.11
0.11
0.1
0.41
2026
0.13
0.15
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
0.02
2026
- -
- -
- -
- -
- -
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Business
Next Capital Public Company Limited, founded in 2004 and headquartered in Bangkok, Thailand, operates primarily in the financial services sector specializing in motorcycle hire-purchase loans. The company offers a comprehensive range of products including hire purchase loans for new motorcycles, second-hand motorcycles, and second-hand trucks; loans secured against vehicle registrations; vehicle registration services; and vehicle insurance services. It serves both individual and corporate customers across Thailand, maintaining an extensive dealer network and multiple branches that cover Bangkok, its vicinity, and other upcountry areas. Recent strategic developments involve aggressive expansion of its loan portfolio with targeted significant growth in motorcycle hire-purchase lending supported by increasing its dealer network and branch presence. The company also aims to diversify its loan offerings with new products such as motorcycle title loans and point-of-sale lending, reflecting major operational initiatives executed within the past two years to strengthen and expand its financial service portfolio. Next Capital has undergone management reorganization to optimize growth strategies while leveraging modern systems to enhance service delivery, positioning itself as a leading financial service provider in Thailand's motorcycle financial credit market. These initiatives illustrate its strategic focus on loan portfolio growth, product diversification, and operational expansion to reinforce its market position and profitability in recent fiscal years.