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    Process industries

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    Containers/Packaging
Thantawan Industry PCL

Thantawan Industry PCL

22.00
THB
-0.10
(-0.45%)
1.81EPS
11.47P/E
1.87BMarket Cap
Thantawan Industry PCL
SET:THIP.R
(Stock Exchange of Thailand)

Recent

price

22.00

P/E

ratio

11.47

div

yld

6.81%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
THB
12.19
14.23
15.5
16.07
20.87
23.71
27.05
29.26
30.83
33.66
35.52
41.75
45.21
37.95
47.57
53.75
50.35
Revenue per Share
0.54
0.61
0.92
1.12
1.21
2.44
3.27
2.8
2.61
2.72
3.86
4.25
4.03
3.21
3.66
2.3
1.81
Basic EPS, GAAP
0.05
0.19
0.3
1.08
0.29
2.07
2.61
1.26
-0.61
2.35
4.4
0.51
4.39
4.94
-2.29
1.61
-2.77
Free Cash Flow per Basic Share
0.16
0.16
0.2
0.28
0.36
0.42
0.85
1.14
1.01
1.11
1.53
0.95
1.65
1.88
2.3
1.61
1.5
Dividend per Share
6.53
6.9
7.61
8.45
9.22
11.21
13.58
15.22
16.82
18.27
22.38
25.71
27.95
29.37
30.73
31.17
31.43
Book Value per Share
6.48
6.84
7.57
8.42
9.16
11.11
13.5
15.09
16.55
18.01
22.13
25.48
27.73
29.17
30.57
31.04
31.3
Tangible Book Value per Share
99
99
99
99
99
99
99
99
99
90
90
90
90
90
90
90
90
Basic Weighted Avg Shares
1,207
1,409
1,535
1,591
2,066
2,348
2,678
2,898
3,052
3,026
3,197
3,761
4,073
3,411
4,276
4,830
4,530
Sales/Revenue/Turnover
4.69
5.06
6.85
7.97
6.59
12.68
14.13
9.74
8.55
8.33
12.25
11.32
8.98
7.89
8.25
6.41
4.48
Operating Margin (%)
36
42
37
37
37
42
52
62
77
99
123
132
143
148
155
195
213
Depreciation Expense
53
61
91
111
120
241
324
277
258
245
348
383
363
289
329
207
163
Net Income, GAAP
25.78
30.83
23.29
20.47
20.14
20.16
19.53
15.67
11.97
13.62
13.68
16.8
13.28
14.3
20.55
28.56
29.62
Effective Tax Rate (%)
4.41
4.32
5.91
6.97
5.81
10.28
12.1
9.56
8.47
8.08
10.88
10.18
8.91
8.46
7.69
4.28
3.6
Profit Margin (%)
267
340
409
503
530
658
866
911
837
958
1,157
1,067
960
1,749
1,816
1,855
1,870
Working Capital
- -
- -
- -
- -
- -
3
2
5
3
5
37
33
20
17
259
388
382
LT Debt
647
683
754
836
912
1,109
1,344
1,507
1,665
1,808
2,014
2,313
2,515
2,643
2,765
2,805
2,829
Total Equity
6.54
9.04
11.04
13.68
13.47
23.33
24.06
16.24
14.24
13.96
17.71
17.02
14.68
11.02
11.49
6.78
5.54
Return on Invested Capital (%)
8.48
9.21
12.67
13.98
13.85
23.93
26.41
19.43
16.31
14.12
18.01
17.34
14.87
11.13
11.63
6.86
5.6
Return on Capital (%)
8.48
9.16
12.64
13.95
13.73
23.88
26.41
19.43
16.29
14.08
18.2
17.69
15.04
11.19
12.16
7.42
5.78
Return on Common Equity (%)

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
286
177
172
LT Borrowings
154
158
152
LT Finance Leases
234
234
230
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
90
90
90
Market Capitalization
2,034
2,025
1,872

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
2,944
2,745
2,682
Cash, Cash Equivalents & STI
1,215
1,020
843
Accounts Receivable, Net
557
575
603
Inventories
1,110
1,048
1,134
Total Current Liabilities
1,088
868
812
Payables & Accruals
798
683
636
ST Debt
286
177
172
Deferred Revenue
- -
- -
- -

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.85%
6.95%
1.45%
Free Cash Flow
-17.63%
72.59%
-170.23%
Net Income, GAAP
1.11%
-7.75%
-37.17%
Sales/Revenue/Turnover
8.04%
9.6%
12.96%
Total Cash Common Dividend
20.2%
8.3%
-30.06%

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
926
954
1,173
1,223
4,276
2025
1,285
1,234
1,148
1,164
4,830
2026
1,033
1,186
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.03
0.99
0.69
0.95
3.66
2025
0.97
0.67
0.2
0.45
2.3
2026
0.31
0.85
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
1.64
0.61
0.04
2.3
2025
- -
0.99
0.61
- -
1.61
2026
- -
0.89
- -
- -
- -
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Business
Thantawan Industry Public Company Limited engages in the manufacture and sale of plastic packaging and products primarily for household, food, and industrial applications; its core offerings include drinking straws made from polypropylene encompassing straight, spoon, flexible, and bio-based varieties; reclosable zipper and slider bags from low-density polyethylene featuring plain, printed, anti-static, specimen, and handle-grip types; general bags such as shopping bags, freezer bags, garbage bags, gloves, cutlery, cling wraps, body scrubs, agricultural films, and zip profiles; compostable products like paper and bio straws; and supplementary items including zipper tapes and resin scraps, marketed under brands including Kitchen Neat, Fresh & Fresh, Zip Solution, SUNZIP, SUNMUM, and SUNBIO. Founded in 1978 as Blowtech (Thailand) Co., Ltd. and renamed Thantawan Industry Public Company Limited in 1994 upon listing on the Stock Exchange of Thailand, the company is headquartered in Sam Phran, Nakhon Pathom, Thailand, with a branch office in Bangkok, and operates as a subsidiary of Sunflower Company Limited; it maintains a subsidiary, Thantawan Industry (Vietnam) Co., Ltd., and exports to Thailand, Europe, Asia, the United States, Australia, and Africa, targeting household consumers, retailers, and industrial clients with customized solutions incorporating innovations like modified atmosphere packaging, anti-microbial features, and temperature-indicator technologies alongside a shift toward environmentally friendly and compostable materials. Recent strategic initiatives emphasize portfolio transformation for profit growth through customer base expansion into new foreign markets, circular economy partnerships, production capacity enhancements via machinery development and potential mergers and acquisitions or overseas facilities, growth of owned brands through elevated awareness and multi-channel sales, and diversification into related and non-plastic packaging businesses while prioritizing sustainability and anti-corruption measures.