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True Corporation Public Company Limited

True Corporation Public Company Limited

12.80
THB
0.00
(0.00%)
0.55EPS
23.14P/E
445.72BMarket Cap
Nov 11Next Earn
True Corporation Public Company Limited
SET:TRUE
(Stock Exchange of Thailand)

Recent

price

12.80

P/E

ratio

23.14

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
THB
5.89
6.1
6.07
5.82
5.65
4.75
4.26
4.18
4.85
4.22
4.14
4.31
4.05
- -
5.96
5.66
5.5
Revenue per Share
0.11
-0.23
-0.5
-0.55
0.07
0.18
-0.1
0.02
0.21
0.17
0.03
-0.04
-0.55
- -
-0.32
0.27
0.56
Basic EPS, GAAP
0.17
-0.54
-1.35
-0.18
-1.61
-1.97
-1.33
-1.28
-0.96
-0.96
-1.11
-0.71
-0.63
- -
0.96
0.59
1.16
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
0.01
- -
0.03
0.09
0.09
0.07
0.07
- -
- -
0.19
- -
Dividend per Share
0.8
1.25
0.8
0.24
2.81
2.98
3.8
3.82
3.99
3.76
2.55
2.44
1.83
2.48
2.14
2.18
2.3
Book Value per Share
-0.79
-0.82
-2.4
-2.47
0.98
-0.28
-0.75
-0.41
0.01
0.01
-1.74
-1.73
-2.02
-5.31
-5.05
-5.29
-4.96
Tangible Book Value per Share
10,596
11,802
14,721
16,523
19,342
25,021
29,263
33,368
33,368
33,368
33,362
33,344
33,362
34,552
34,552
34,552
34,394
Basic Weighted Avg Shares
62,378
71,938
89,382
96,214
109,216
118,781
124,719
139,519
161,820
140,943
138,212
143,655
135,076
- -
206,020
195,669
189,297
Sales/Revenue/Turnover
11.75
5.66
1.79
-1.71
2.68
3.88
-0.39
2.95
12.61
3.76
7.7
8.64
1.64
- -
14.05
18.61
21.28
Operating Margin (%)
12,990
14,883
17,152
22,254
25,335
19,945
28,080
36,267
36,673
29,344
45,754
48,198
53,407
- -
72,025
70,847
70,912
Depreciation Expense
1,211
-2,694
-7,428
-9,063
1,294
4,412
-2,814
551
7,035
5,637
1,048
-1,428
-18,285
- -
-10,966
9,240
19,177
Net Income, GAAP
34.44
488.8
- -
- -
- -
5.4
- -
70.7
46.34
28.05
1.99
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
1.94
-3.74
-8.31
-9.42
1.18
3.71
-2.26
0.4
4.35
4
0.76
-0.99
-13.54
- -
-5.32
4.72
10.13
Profit Margin (%)
-8,712
-6,829
-23,775
-37,132
-30,064
-34,419
-42,413
-86,120
-79,568
-16,701
-71,380
-73,817
-90,013
-94,168
-115,403
-98,423
-105,596
Working Capital
64,675
77,976
86,805
76,261
33,137
55,522
60,490
49,924
68,054
178,030
272,243
297,345
306,267
379,182
330,826
349,104
329,264
LT Debt
11,064
21,469
14,004
4,649
70,726
75,207
127,481
128,184
133,884
126,019
85,617
81,818
61,407
86,140
74,185
75,147
79,084
Total Equity
5.64
-16.96
- -
- -
- -
3.11
- -
0.78
4.08
1.23
2.72
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
6.27
-40.76
- -
- -
- -
4.96
- -
0.91
3.66
3.53
4.27
- -
- -
- -
- -
- -
- -
Return on Capital (%)
17.98
-17.23
-43.53
-104.5
3.49
6.1
-2.8
0.43
5.39
4.36
1
-1.72
-25.69
- -
-13.74
12.37
24.81
Return on Common Equity (%)

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
84,547
80,981
99,158
LT Borrowings
259,052
260,342
244,220
LT Finance Leases
90,052
87,935
85,043
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
34,552
34,552
34,552
Market Capitalization
376,618
497,550
445,722

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
71,940
70,605
70,309
Cash, Cash Equivalents & STI
17,891
17,502
16,036
Accounts Receivable, Net
30,908
30,077
30,785
Inventories
1,864
1,748
1,512
Total Current Liabilities
170,363
159,328
175,905
Payables & Accruals
75,634
69,009
61,870
ST Debt
84,547
80,981
99,158
Deferred Revenue
6,883
7,113
7,331

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.49%
-0.34%
1.3%
Free Cash Flow
- -
- -
-38.35%
Net Income, GAAP
- -
- -
-184.27%
Sales/Revenue/Turnover
- -
- -
-5.02%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
51,347
51,091
50,840
52,742
206,020
2025
51,436
49,596
- -
47,407
195,669
2026
46,393
45,901
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.02
-0.05
-0.02
-0.22
-0.32
2025
0.05
0.06
- -
0.12
0.27
2026
0.19
0.19
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
0.19
2026
- -
- -
- -
- -
- -
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Business
True Corporation Public Company Limited (TRUE.BK) provides telecommunications and value-added services in Thailand through its subsidiaries. The company operates primarily in mobile services via TrueMove H and DTAC TriNet; broadband internet and Wi-Fi through TrueOnline; pay TV and content via TrueVisions; and digital platforms, entertainment, and business solutions under True Digital, including software development, online media, artist management, program production, advertising, and business process outsourcing in technical services, marketing, and customer relations. It also offers fixed-line services as a concessionaire of NT, hospitality technology, privilege platforms, and football club management, targeting consumer, enterprise, and digital lifestyle markets across Thailand. Founded in 1990 and headquartered at 18 True Tower, Ratchadaphisek Road, Bangkok, the company resulted from the March 2023 amalgamation of the former True Corporation and Total Access Communication PCL (dtac), creating Southeast Asia's largest telecom merger by enterprise value with equal 30.3% ownership by CP Group and Telenor. Recent developments include expanded 5G coverage to 94% nationwide and 99% in key areas by Q3 2025 with 23% speed improvement; top-level management restructuring in March 2025 appointing a Group CEO, President/CEO of Enterprise & Data Business, and President/CEO of Consumer Business to drive digital transformation; organizational restructuring approved in August 2025 effective September 1 for enhanced agility and AI adoption; a planned five-tranche debenture offering in May 2025 with maturities of 3-10 years and coupons of 3.00-3.95% following a THB 166 billion service revenue increase and 14.5% EBITDA growth in 2024; and recognition as world No. 1 in DJSI Sustainability Index 2024 for telecom.