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Thai Nippon Rubber Industry Public Co., Ltd.

Thai Nippon Rubber Industry Public Co., Ltd.

6.00
THB
+0.10
(+1.69%)
0.62EPS
8.49P/E
1.58BMarket Cap
Thai Nippon Rubber Industry Public Co., Ltd.
SET:TNR.R
(Stock Exchange of Thailand)

Recent

price

6.00

P/E

ratio

8.49

div

yld

6.66%

ROIC.AI

2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
THB
4.5
3.51
3.94
4.34
5.23
4.31
5
5.81
5.85
5.51
6.61
6.52
7
6.15
6.23
Revenue per Share
0.2
0.32
0.36
0.78
0.84
0.4
0.91
0.33
0.37
-1.55
0.87
0.67
1.78
0.45
0.62
Basic EPS, GAAP
- -
-0.06
0.63
0.94
0.71
1.12
-1.07
-0.33
0.74
-0.04
0.41
0.7
0.58
0.15
0.31
Free Cash Flow per Basic Share
- -
- -
0.06
0.44
2.46
0.05
0.32
0.2
0.24
0.26
0.2
0.55
0.55
0.7
0.4
Dividend per Share
1.22
1.42
1.72
2.06
3.01
3.37
3.96
4.09
4.19
2.4
3.11
3.2
4.43
4.11
4.35
Book Value per Share
1.2
1.41
1.71
2.04
2.96
3.31
2.36
2.57
2.76
2.34
3.06
3.13
3.18
2.89
3.15
Tangible Book Value per Share
300
300
300
300
230
300
300
300
300
300
300
300
300
300
300
Basic Weighted Avg Shares
1,351
1,053
1,182
1,302
1,203
1,294
1,500
1,744
1,754
1,654
1,984
1,957
2,101
1,844
1,871
Sales/Revenue/Turnover
4.68
10.2
13.23
19.57
16.66
8.39
6.39
7.02
8.13
-38.02
15.48
12.99
16.51
12.21
10.14
Operating Margin (%)
- -
79
95
100
99
95
116
136
143
134
101
105
112
131
133
Depreciation Expense
59
97
109
234
194
121
274
100
111
-465
262
202
533
134
186
Net Income, GAAP
- -
- -
0.78
1.75
1.43
1.36
1.59
8.05
- -
- -
11.04
9.99
16.48
16.99
13.15
Effective Tax Rate (%)
4.4
9.17
9.18
17.97
16.14
9.37
18.28
5.74
6.35
-28.11
13.22
10.32
25.37
7.27
9.93
Profit Margin (%)
-15
-57
-48
74
385
534
333
391
404
129
276
331
382
340
416
Working Capital
283
218
97
52
24
11
241
160
100
13
50
15
10
7
6
LT Debt
365
426
516
619
902
1,010
1,188
1,227
1,257
720
934
961
1,328
1,234
1,306
Total Equity
- -
10.9
10.34
23.09
18.97
11.56
20.57
6.99
- -
- -
28.1
20.76
39.75
9.82
7.93
Return on Invested Capital (%)
- -
13.59
12.18
24.34
20.49
11.85
22.07
7.13
- -
- -
20.99
15.4
33.77
7.62
9.43
Return on Capital (%)
- -
24.43
23.05
41.21
25.52
12.67
24.94
8.29
8.97
-47.01
31.71
21.32
46.57
10.46
14.45
Return on Common Equity (%)

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
895
810
813
LT Borrowings
- -
- -
- -
LT Finance Leases
7
7
6
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
300
300
300
Market Capitalization
1,785
1,428
1,575

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,482
1,486
1,517
Cash, Cash Equivalents & STI
355
227
241
Accounts Receivable, Net
779
901
885
Inventories
315
312
344
Total Current Liabilities
1,142
1,082
1,101
Payables & Accruals
189
225
222
ST Debt
895
810
813
Deferred Revenue
23
26
33

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
10.2%
4.2%
-7.1%
Free Cash Flow
-189.94%
-274.83%
-73.67%
Net Income, GAAP
-58.81%
-121.51%
-74.86%
Sales/Revenue/Turnover
4.07%
1.6%
-12.27%
Total Cash Common Dividend
- -
- -
27.26%

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
469
551
558
524
2,101
2025
435
483
447
480
1,844
2026
445
500
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.3
1.18
0.06
0.23
1.78
2025
0.14
0.14
0.16
0.01
0.45
2026
0.19
0.26
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.25
0.3
- -
0.55
2025
- -
0.52
- -
0.2
0.7
2026
- -
0.2
- -
- -
- -
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Business
Thai Nippon Rubber Industry Public Co., Ltd. manufactures and distributes condoms and lubricating gels primarily under the ONETOUCH brand, serving both domestic and international markets. The company’s product portfolio includes natural rubber latex condoms, lubricating gels, medicinal plant products, paper packaging solutions, and related printing and herbal extraction services. Additionally, it provides analytical, research, and testing services focused on substances in medicinal plants and agricultural crops. Founded in 1993 and headquartered in Bangkok, Thailand, the company operates manufacturing facilities designed to meet growing market demand with an annual production capacity reaching 2 billion units. Recent major developments include a strategic 30-year global licensing agreement with PLBY Group Inc., owner of the Playboy brand, enabling Thai Nippon Rubber Industry to design, produce, and distribute Playboy-branded condoms worldwide except Mexico. This partnership significantly expands the company's global brand portfolio and market reach. Furthermore, in mid-2025, C.A.S. Clean Energy Co., Ltd. acquired a 12% stake in Thai Nippon Rubber Industry, highlighting increased strategic investment interest. The company remains focused on innovation, quality enhancement, and expanding international distribution channels to sustain growth. Operating within the medical equipment manufacturing and health personal care sector, Thai Nippon Rubber Industry serves a broad customer base ranging from individual consumers to commercial partners across Southeast Asia and other global markets. Through its subsidiaries and parent company relationships, the company maintains strong vertical integration from raw material sourcing to finished product distribution. Its business segments encompass condom manufacturing, lubricating gels, herbal medicinal products, and packaging solutions, positioning it as a diversified player in the natural rubber-based products industry. Overall, Thai Nippon Rubber Industry Public Co., Ltd. combines high-quality manufacturing, strategic global partnerships, and a diverse product portfolio to maintain its competitive position as a leading condom and personal care product manufacturer headquartered in Thailand with a growing international presence. Recent strategic moves underline its commitment to innovation and global brand expansion while strengthening its operational capabilities and investor backing.