1. Thailand Stocks

  2. •

    Utilities

  3. •

    Alternative power generation
Thai Solar Energy Public Company Ltd

Thai Solar Energy Public Company Ltd

1.19
THB
-0.02
(-1.65%)
0.02EPS
35.66P/E
1.61BMarket Cap
Nov 05Next Earn
Thai Solar Energy Public Company Ltd
SET:TSE
(Stock Exchange of Thailand)

Recent

price

1.19

P/E

ratio

35.66

div

yld

- -

ROIC.AI

2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
THB
0.03
0.02
0.06
0.22
0.12
0.28
0.66
0.65
0.64
0.54
0.56
0.56
0.59
0.53
Revenue per Share
-0.01
0.3
0.27
0.32
0.22
0.09
0.4
0.2
0.23
0.34
-1.41
-0.24
0.02
0.02
Basic EPS, GAAP
-1.98
0.01
-0.53
-0.51
-0.96
-1.32
0.13
-0.99
-0.59
-1.49
-0.49
-0.06
0.01
-0.25
Free Cash Flow per Basic Share
- -
- -
- -
0.06
0.1
0.01
0.05
0.12
0.09
0.04
0.09
0.05
- -
- -
Dividend per Share
0.49
1.83
2.12
2.39
2.42
2.5
2.66
2.79
3
3.04
1.71
1.41
1.43
1.47
Book Value per Share
0.49
1.83
2.12
2.14
0.26
0.2
0.44
0.43
0.67
0.73
1.18
0.96
0.89
0.96
Tangible Book Value per Share
1,913
1,920
1,920
1,920
1,920
1,906
1,950
2,118
2,118
2,118
2,118
2,117
2,115
2,288
Basic Weighted Avg Shares
55
47
124
422
229
539
1,280
1,369
1,358
1,146
1,181
1,176
1,242
1,206
Sales/Revenue/Turnover
-85.14
-258.18
-62.85
27.85
-42.22
-14.63
15.95
14.93
7.37
18.66
-82.55
3.89
17.19
17.79
Operating Margin (%)
47
34
42
69
82
157
341
423
431
335
690
316
318
319
Depreciation Expense
-16
581
527
618
416
174
775
421
493
724
-2,981
-501
47
49
Net Income, GAAP
- -
- -
0.69
4.63
0.72
31.34
0.63
0.04
1.72
1.81
- -
- -
- -
29.86
Effective Tax Rate (%)
-28.15
1,247.63
423.11
146.45
181.55
32.27
60.51
30.77
36.29
63.17
-252.5
-42.63
3.76
4.04
Profit Margin (%)
-827
1,110
739
2,226
-1,678
-1,420
-384
-1,396
-1,656
-893
-608
-1,332
-430
435
Working Capital
13
324
516
2,774
4,852
6,880
8,095
10,032
9,780
11,280
2,822
2,586
1,778
3,067
LT Debt
935
3,489
4,040
4,585
4,781
4,915
5,632
5,919
6,349
6,443
3,622
2,988
3,077
3,161
Total Equity
- -
- -
12.02
1.97
-0.58
-1.61
1.81
1.18
1.37
2.23
- -
- -
- -
1.95
Return on Invested Capital (%)
- -
- -
12.67
10.49
5.25
1.67
5.86
4.38
4.29
5.25
- -
- -
- -
2.43
Return on Capital (%)
- -
26.28
13.99
14.36
9.06
3.71
14.9
7.3
8.03
11.32
-59.24
-15.17
1.55
1.58
Return on Common Equity (%)

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
1,502
338
478
LT Borrowings
1,591
2,964
2,889
LT Finance Leases
187
182
177
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2,115
2,115
2,118
Market Capitalization
994
1,544
1,609

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,241
1,524
1,059
Cash, Cash Equivalents & STI
684
1,035
553
Accounts Receivable, Net
196
221
221
Inventories
51
62
54
Total Current Liabilities
1,671
471
624
Payables & Accruals
126
99
104
ST Debt
1,502
338
478
Deferred Revenue
3
- -
- -

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-0.93%
-9.91%
2.98%
Free Cash Flow
-107%
-32.73%
-121.41%
Net Income, GAAP
-41.44%
-128.11%
-109.32%
Sales/Revenue/Turnover
46.48%
-1.63%
5.67%
Total Cash Common Dividend
- -
-14.68%
-100%

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
299
308
303
266
1,176
2025
332
326
312
273
1,242
2026
313
308
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.05
0.04
0.03
-0.36
-0.24
2025
0.03
0.01
0.01
-0.03
0.02
2026
0.02
0.01
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.05
- -
- -
0.05
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Thai Solar Energy Public Company Limited (TSE.BK) is a Thailand-based company engaged in the development, manufacturing, and distribution of solar energy products and solutions. The company produces solar panels, including monocrystalline and polycrystalline modules under its own brands; provides engineering, procurement, and construction (EPC) services for solar power plants; and offers operation and maintenance (O&M) services for renewable energy projects. It operates primarily in the renewable energy sector, targeting utility-scale developers, commercial customers, and government projects across Thailand and select Southeast Asian markets; founded in 2009, it is headquartered in Bangkok, Thailand. In recent developments, the company expanded its production capacity through a new solar module manufacturing facility in 2024; formed strategic partnerships with international technology providers for advanced photovoltaic components; and secured funding for multiple solar farm projects totaling over 100 MW in capacity within the past two years. TSE maintains subsidiaries focused on solar project development and energy trading, with no parent company affiliation.