1. Thailand Stocks

  2. •

    Process industries

  3. •

    Containers/Packaging
Starflex Public Co., Ltd.

Starflex Public Co., Ltd.

3.16
THB
0.00
(0.00%)
0.36EPS
8.39P/E
2.20BMarket Cap
Nov 11Next Earn
Starflex Public Co., Ltd.
SET:SFLEX.R
(Stock Exchange of Thailand)

Recent

price

3.16

P/E

ratio

8.39

div

yld

5.43%

ROIC.AI

2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
THB
- -
2.65
2.69
2.06
1.7
2.02
2.04
2.25
2.39
2.56
2.7
Revenue per Share
- -
0.29
0.27
0.13
0.17
0.18
0.07
0.23
0.36
0.32
0.36
Basic EPS, GAAP
- -
0.25
0.05
0.27
- -
-0.16
-0.01
0.23
0.13
0.39
0.2
Free Cash Flow per Basic Share
- -
0.26
0.26
0.17
0.12
0.08
0.05
0.07
0.11
0.19
0.17
Dividend per Share
0.46
0.48
0.54
1.01
1.07
1.17
1.2
1.26
1.47
1.54
1.66
Book Value per Share
0.45
0.47
0.54
1.01
1.07
1.17
1.2
1.26
1.46
1.53
1.64
Tangible Book Value per Share
1,640
505
505
610
820
830
820
796
782
767
743
Basic Weighted Avg Shares
- -
1,338
1,361
1,256
1,398
1,677
1,669
1,795
1,869
1,963
2,008
Sales/Revenue/Turnover
- -
14.76
13.6
8.57
12.42
9.59
4.03
12.81
15.67
13.34
14.95
Operating Margin (%)
- -
33
36
41
59
62
57
58
66
71
71
Depreciation Expense
- -
147
136
79
143
149
55
184
281
243
266
Net Income, GAAP
- -
19.96
20.28
16.91
16.33
4.78
14.89
17.42
1.36
- -
0.7
Effective Tax Rate (%)
- -
10.96
10
6.26
10.21
8.91
3.3
10.27
15.02
12.39
13.23
Profit Margin (%)
91
149
156
487
339
357
349
-65
179
137
145
Working Capital
146
122
122
97
26
84
175
168
352
290
249
LT Debt
375
392
445
830
881
960
985
1,001
1,140
1,158
1,216
Total Equity
- -
24.7
21.88
10
14.38
14.45
4.73
13.12
16.8
- -
15.65
Return on Invested Capital (%)
- -
25.41
22.3
10.19
14.54
14.44
4.72
13.15
18.16
- -
15.38
Return on Capital (%)
- -
38.2
32.5
12.33
16.7
16.23
5.66
18.56
26.23
21.17
22.5
Return on Common Equity (%)

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
371
382
512
LT Borrowings
285
264
242
LT Finance Leases
5
4
7
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
750
744
734
Market Capitalization
2,356
2,188
2,203

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
860
868
1,044
Cash, Cash Equivalents & STI
94
99
82
Accounts Receivable, Net
375
356
385
Inventories
307
322
473
Total Current Liabilities
723
733
899
Payables & Accruals
352
351
387
ST Debt
371
382
512
Deferred Revenue
- -
- -
- -

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
5.74%
1.52%
Free Cash Flow
- -
1,174.18%
188.24%
Net Income, GAAP
- -
43.02%
-13.37%
Sales/Revenue/Turnover
- -
7.23%
5.02%
Total Cash Common Dividend
- -
21%
78.77%

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
485
452
476
455
1,869
2025
492
468
510
493
1,963
2026
491
514
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.08
0.08
0.1
0.1
0.36
2025
0.08
0.07
0.08
0.08
0.32
2026
0.09
0.11
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.05
0.06
- -
0.11
2025
- -
0.07
0.12
- -
0.19
2026
- -
0.05
- -
- -
- -
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UFlex Limited (NSE:UFLEX)
Business
Starflex Public Company Limited manufactures and distributes flexible packaging products in Thailand, primarily serving consumer goods manufacturers with made-to-order soft plastic solutions in roll and pre-formed pouch formats. The company offers roll form films for primary and secondary packaging, including single-layer and multi-layer films suitable for detergents, fabric softeners, dishwashing liquids, instant noodles, ice cream, seasonings, and medical equipment; pre-formed pouches such as stand-up pouches with zip or spout, 3-sided seal pouches, center seal and gusset pouches, 4-sided seal pouches, flat bottom pouches, and free-shape die-cut pouches for snacks, pet food, beverages, condiments, and household products. Founded in 2003 and headquartered in Bang Bo, Samut Prakarn, Thailand, Starflex operates factories in Samut Prakarn, focusing on food and non-food segments while emphasizing sustainability through certifications like FSSC 22000, HACCP, GMP, and GHPs. Starflex targets leading Thai consumer product firms including Unilever Thai Holding, Perfect Companion Group, and Neo Factory, with geographic operations centered in Thailand and aspirations for CLMV expansion. Recent developments include the 2024 establishment of Star Union Packaging Co., Ltd., a joint venture with Thai Union Graphics (51% Starflex ownership) to produce flexible packaging for food products, expected to commence operations by late 2024 and boost earnings in 2025; and the acquisition of SPV to integrate paper packaging, enhancing product diversity, customer base, and international growth potential. In 2025, the company proposes reducing registered capital by 40.997 million Baht ahead of its annual general meeting, reflecting ongoing capital management amid production expansions like new factories, blown film machines, and solar power installations.