Trinity Watthana Public Co. Ltd.

Trinity Watthana Public Co. Ltd.

2.36
THB
+0.02
(+0.85%)
-0.30EPS
518.86MMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
4.23
4.01
3.68
3.94
3.3
3.14
2.97
3.06
4.1
3.25
0.96
2.34
1.7
1.92
Basic EPS, GAAP
0.7
0.97
0.74
0.81
0.14
0.34
0.49
0.65
1.18
0.83
-1.65
- -
-0.37
-0.3
Free Cash Flow per Basic Share
-0.85
0.65
- -
-0.45
1.68
0.08
-0.8
0.74
1.08
1.48
1.38
3.38
2.26
1.27
Dividend per Share
0.67
0.49
0.31
0.6
0.4
0.57
0.2
0.44
0.76
0.92
- -
- -
- -
- -
Book Value per Share
7.26
7.62
7.93
8.1
8.12
7.83
7.93
8.02
8.19
8.11
6.47
6.43
6.06
6.06
Tangible Book Value per Share
6.95
7.32
7.63
7.79
7.81
7.53
7.62
7.71
7.9
7.81
6.17
6.12
5.76
5.77
Basic Weighted Avg Shares
197
197
197
197
197
198
199
199
211
215
214
214
214
213
Sales/Revenue/Turnover
836
792
726
778
652
622
592
610
865
700
206
501
365
409
Operating Margin (%)
26.27
37.21
33.75
33.39
13.48
21.84
18.64
18.98
30.53
29.49
-189.2
2.33
-23.72
-15.93
Depreciation Expense
19
17
17
15
14
12
13
40
44
42
51
52
56
56
Net Income, GAAP
138
192
146
160
28
68
97
130
250
178
-353
1
-79
-63
Effective Tax Rate (%)
20.28
19.89
19.53
19.66
17.85
22.75
18.84
16.13
18.24
18.22
- -
- -
- -
- -
Profit Margin (%)
16.5
24.2
20.11
20.51
4.31
10.96
16.34
21.37
28.91
25.5
-171.26
0.1
-21.79
-15.5
Working Capital
1,286
1,186
1,275
1,428
1,369
1,065
1,233
1,679
1,997
2,070
1,078
556
745
744
LT Debt
- -
- -
- -
100
- -
2
270
518
642
738
458
115
92
76
Total Equity
1,434
1,505
1,567
1,600
1,604
1,552
1,579
1,597
1,756
1,740
1,386
1,380
1,299
1,300
Return on Invested Capital (%)
7.11
6.71
4.55
6.06
3.7
3.06
3.77
4.17
6.12
4.33
- -
- -
- -
- -
Return on Capital (%)
6.87
8.08
6.05
5.96
2.08
3
3.85
4.24
6.31
4.5
- -
- -
- -
- -
Return on Common Equity (%)
9.65
13.05
9.51
10.08
1.75
4.32
6.18
8.21
14.92
10.21
-22.61
0.04
-5.93
-4.76

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
2,374
2,323
2,277
LT Borrowings
- -
- -
- -
LT Finance Leases
92
84
76
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
214
214
214
Market Capitalization
433
630
519

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
3,239
3,452
3,472
Cash, Cash Equivalents & STI
219
276
260
Accounts Receivable, Net
2,285
2,461
2,602
Inventories
- -
- -
- -
Total Current Liabilities
2,493
2,711
2,728
Payables & Accruals
115
353
446
ST Debt
2,374
2,323
2,277
Deferred Revenue
- -
- -
- -

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-1.56%
-3.53%
-5.84%
Free Cash Flow
-1,374.15%
40.03%
-33.08%
Net Income, GAAP
-1,573.37%
-3,176%
-15,544.84%
Sales/Revenue/Turnover
5.24%
13.55%
-27.3%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
144
126
132
105
501
2025
150
95
108
12
365
2026
154
135
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.07
- -
-0.04
-0.03
- -
2025
0.04
-0.11
-0.03
-0.27
-0.37
2026
0.02
-0.02
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

CEO
Veerapat Petcharakup
Full Time Employees
253
Sector
Finance
Industry
Investment banks/Brokers
Address
No. 1 Park Silom Building Bangkok BM Thailand 10500
IPO Date
Dec 18, 2002
Business
Trinity Watthana Public Company Limited (TNITY.BK) is a holding company primarily engaged in investment in other companies and financial services through its subsidiaries in Thailand. Founded in 2001 and headquartered at 1 Park Silom, 22nd Floor, Convent Road, Silom, Bangkok, the company operates principally through its core subsidiary, Trinity Securities Company Limited (99.40% owned), which holds licenses from the Ministry of Finance for seven types of securities business including securities brokerage; securities trading; investment advisory; securities underwriting; securities borrowing and lending; derivatives agent; and private fund asset management, as well as approvals from the Office of the Securities and Exchange Commission for financial advisory services and acting as a selling agent for unit trusts and mutual funds. Additional subsidiaries encompass Trinity Intelligence Plus Company Limited, which provides consultancy in internal control systems, risk management, accounting systems, and internal audits for medium and small-sized companies preparing for stock market listings; Trinity One Company Limited, focused on investments in various businesses; and Asset Back Holdings Company Limited, which manages investments including a 99.99% stake in Conduit Management Services Co., Ltd. for securitization management. The company also holds associate interests in Zennite Co., Ltd. (28.34% stake) for wealth and human resources management platforms; Thaitex CBD Smart Farm Company Limited (20% stake) for hemp and marijuana-related products; and Tree Money Holding Company Limited (30.07% stake) for pico finance retail loans and related businesses. The company conducts its operations across two main segments: Securities and Derivatives Business, encompassing brokerage, trading, borrowing and lending, and underwriting of securities, derivatives agency, fixed income services, and investments in listed companies, other companies, and securitizations; and Financial Advisory Business and Investment Banking, including investment advisory, private fund asset management, and financial advisory services. It serves institutional and retail clients in the Thai capital markets, with Trinity Securities maintaining five branches in provinces outside Bangkok as of late 2022. Geographic focus remains centered in Thailand, with no significant international operations noted. In recent developments, Trinity Watthana reported a return to profitability in 2024 with net income of THB 0.51 million, following a loss of THB 353.4 million in 2023, amid total revenues rising to THB 508.73 million from THB 160.66 million, driven by improved gross profit of THB 458.06 million. The company maintained its registered capital at THB 1,447,232,702, with fully paid-up capital of THB 1,072,024,230, supporting ongoing investments and operations as of December 31, 2024. No major acquisitions, partnerships, funding rounds, or strategic expansions were publicly announced in 2024 or 2025, with focus remaining on core securities and advisory activities amid a stable capital structure.