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  2. •

    Technology services

  3. •

    Packaged software
Netbay Public Co. Ltd.

Netbay Public Co. Ltd.

11.50
THB
0.00
(0.00%)
0.97EPS
10.36P/E
2.02BMarket Cap
Nov 05Next Earn
Netbay Public Co. Ltd.
SET:NETBAY.R
(Stock Exchange of Thailand)

Recent

price

11.50

P/E

ratio

10.36

div

yld

3.50%

ROIC.AI

2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
THB
1.12
1.5
1.57
1.81
2.06
1.94
2
2.29
2.44
2.91
3.64
3.14
Revenue per Share
0.33
0.49
0.58
0.74
0.9
0.78
0.83
0.85
0.9
1.08
1.33
0.97
Basic EPS, GAAP
0.33
0.55
0.52
0.6
0.85
0.82
1.02
0.67
0.97
0.6
1.39
0.71
Free Cash Flow per Basic Share
0.07
0.31
0.22
0.48
0.76
0.97
0.78
0.79
0.82
0.9
1.58
0.4
Dividend per Share
0.79
1.72
2.09
2.36
2.5
2.32
2.41
2.5
2.59
2.77
2.52
2.1
Book Value per Share
0.78
1.71
2.09
2.35
2.48
2.31
2.39
2.49
2.57
2.61
2.29
1.58
Tangible Book Value per Share
200
182
200
200
200
200
200
200
200
200
200
199
Basic Weighted Avg Shares
224
273
315
362
412
388
400
457
487
581
728
625
Sales/Revenue/Turnover
30.56
34.83
38.98
43.07
42.2
40.08
46.59
46.36
45.33
46.73
45.82
39.14
Operating Margin (%)
1
3
3
3
10
16
15
14
16
26
31
32
Depreciation Expense
65
89
116
149
179
156
166
170
180
216
266
194
Net Income, GAAP
4.54
6.03
5.63
4.45
1.05
0.82
12.83
20.87
19.86
20.55
20.07
20.31
Effective Tax Rate (%)
29.07
32.73
36.79
41.15
43.5
40.27
41.34
37.13
36.99
37.13
36.47
31.04
Profit Margin (%)
132
250
346
316
275
300
353
329
337
440
385
244
Working Capital
- -
- -
- -
- -
- -
1
- -
4
19
15
14
10
LT Debt
157
343
418
472
500
465
482
501
519
554
504
419
Total Equity
- -
35.67
30.4
33.43
35.6
31.94
33.62
32.43
32.09
36.88
46.37
39.7
Return on Invested Capital (%)
- -
35.67
30.4
33.43
36.86
32.37
34.83
34.34
34.33
38.79
48.52
42.03
Return on Capital (%)
- -
35.67
30.4
33.43
36.86
32.44
34.97
34.54
35.36
40.25
50.2
43.9
Return on Common Equity (%)

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
8
8
9
LT Borrowings
- -
- -
- -
LT Finance Leases
14
12
10
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
200
200
200
Market Capitalization
4,260
3,620
2,020

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
556
559
357
Cash, Cash Equivalents & STI
407
418
233
Accounts Receivable, Net
119
91
95
Inventories
- -
- -
- -
Total Current Liabilities
171
148
113
Payables & Accruals
125
97
59
ST Debt
8
8
9
Deferred Revenue
38
43
44

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
16.07%
1.79%
-8.95%
Free Cash Flow
23.68%
25.37%
129.45%
Net Income, GAAP
16.05%
11.46%
22.99%
Sales/Revenue/Turnover
12.88%
13.68%
25.23%
Total Cash Common Dividend
54.54%
14.09%
75.81%

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
128
145
138
171
581
2025
181
206
175
167
728
2026
137
146
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.24
0.27
0.26
0.32
1.08
2025
0.35
0.38
0.32
0.27
1.33
2026
0.17
0.21
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.9
2025
- -
- -
0.4
- -
1.58
2026
- -
- -
- -
- -
- -
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Business
Netbay Public Company Limited (NETBAY.BK) develops and provides Software as a Service (SaaS) platforms for digital business technology and electronic transactions across Business-to-Government (B2G), Business-to-Business (B2B), and Business-to-Consumer (B2C) segments in Thailand. The company offers comprehensive e-business services, including e-Customs Declaration, e-Express e-Manifest, e-Customs Permit, e-Payment, e-Transit/Transshipment, e-Single Entry Form NSW, e-Tax Invoice & e-Receipt, and Intelligent Box; it also provides electronic data interchange for anti-money laundering compliance, customer due diligence gateways, electronic transaction reporting, and e-GP portal bank guarantees. Through its Digital Business Services and Digital Transformation (Projects) groups, Netbay targets e-Logistics communities such as import-export providers, shipping companies, freight forwarders, terminal operators, and financial institutions, while supporting cloud computing via 100%-owned subsidiary Cloud Creation Company Limited and blockchain solutions via Fynnet Ventures Company Limited. Founded in 2004 and headquartered in Bangkok, Thailand, the company listed on the Market for Alternative Investment (MAI) of the Stock Exchange of Thailand in 2016 with a paid-up capital of 200 million baht. Netbay operates primarily in the IT services and consulting sector, focusing on omni-channel connectivity gateways and e-logistics trading platforms to enable efficient, paperless transactions under its "Better, Faster, Cheaper" vision. In recent developments, TEAM Group has acquired a 6% stake in Netbay to leverage its technologies for data management and engineering expansions, alongside forming strategic alliances with DITTO (ticker: DITTO.BK), SOMAPA, SITEM, and ORIGIN. The company received recognition as an Outstanding Business Leader of the Year 2025 and certification for its dSURE software as a Digital Provider by Thailand's Digital Economy Promotion Agency (depa) in June 2025. As of mid-2025, Netbay reports total assets of 705.74 million baht and maintains recurring revenue from ongoing SaaS transactions without significant inventory or distribution costs.