1. Thailand Stocks

  2. •

    Consumer non-durables

  3. •

    Food: specialty/candy
Thai Wah Public Co. Ltd.

Thai Wah Public Co. Ltd.

2.52
THB
-0.02
(-0.79%)
0.18EPS
15.98P/E
2.50BMarket Cap
Nov 17Next Earn
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
13.65
13.53
1.58
7
7.12
8.23
8.32
8.05
10.34
11.84
11.62
11.4
10.46
10.61
Basic EPS, GAAP
3.05
2.48
0.09
0.76
0.56
0.22
0.08
0.04
0.37
0.34
0.05
-0.08
0.18
0.18
Free Cash Flow per Basic Share
3.34
1.12
0.09
0.3
0.23
-0.34
-0.87
0.37
0.14
0.17
-0.71
0.74
0.64
-0.28
Dividend per Share
0.75
0.88
- -
0.36
0.21
0.32
0.32
0.13
0.13
0.22
0.22
0.09
0.06
0.11
Book Value per Share
2.39
2.66
5.39
5.79
6.07
6.02
5.7
5.56
5.86
5.99
5.73
5.49
5.47
5.57
Tangible Book Value per Share
2.39
2.65
4.69
5.08
5.34
5.31
4.98
4.83
5.17
5.32
5.1
4.89
4.91
5.05
Basic Weighted Avg Shares
95
95
880
880
880
880
880
880
880
880
880
880
880
883
Sales/Revenue/Turnover
1,298
1,286
1,394
6,163
6,265
7,248
7,323
7,090
9,105
10,421
10,231
10,037
9,206
9,368
Operating Margin (%)
22.42
18.09
8.63
14.69
7.11
3.01
1.58
0.65
5.42
4.04
1.03
0.25
3.59
2.52
Depreciation Expense
32
33
29
150
193
277
352
458
474
496
487
475
464
463
Net Income, GAAP
290
236
81
669
493
197
68
38
323
298
47
-71
156
157
Effective Tax Rate (%)
17.59
17.62
20.38
18.32
16.4
21.28
25.35
21.29
15.42
17.97
30.19
- -
40.29
35.38
Profit Margin (%)
22.36
18.35
5.8
10.86
7.87
2.72
0.93
0.54
3.55
2.86
0.46
-0.71
1.69
1.67
Working Capital
732
421
1,945
2,047
2,340
2,364
2,256
2,497
1,825
2,473
1,974
1,660
1,920
1,418
LT Debt
- -
2
32
9
12
8
1,112
1,449
365
1,103
1,047
918
587
374
Total Equity
1,376
1,528
4,921
5,345
5,906
5,866
5,295
5,206
5,534
5,644
5,394
5,161
5,565
5,655
Return on Invested Capital (%)
22.35
15.93
2.88
14.05
9.32
2.7
1.86
1.18
5.84
4.72
0.94
- -
2.84
2.44
Return on Capital (%)
22.92
16.25
1.93
11.34
7.76
3.03
1.21
1.4
4.78
4.7
1.56
- -
2.54
2.42
Return on Common Equity (%)
22.92
16.26
2.58
13.6
9.44
3.7
1.32
0.77
6.42
5.72
0.92
-1.45
3.23
3.21

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
700
1,246
1,690
LT Borrowings
532
321
285
LT Finance Leases
55
49
88
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
880
880
880
Market Capitalization
2,553
2,518
2,500

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
3,536
4,068
4,127
Cash, Cash Equivalents & STI
1,021
1,083
1,118
Accounts Receivable, Net
859
1,019
951
Inventories
1,515
1,789
1,853
Total Current Liabilities
1,616
2,346
2,709
Payables & Accruals
836
1,000
946
ST Debt
700
1,246
1,690
Deferred Revenue
- -
- -
- -

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
1.44%
1.47%
7.82%
Free Cash Flow
-80.02%
-154.48%
-13.4%
Net Income, GAAP
61.38%
16.57%
-318.35%
Sales/Revenue/Turnover
38.81%
6.17%
-8.28%
Total Cash Common Dividend
409,095.66%
-6.81%
-37.34%

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2,626
2,391
2,405
2,615
10,037
2025
2,299
2,301
2,266
2,340
9,206
2026
2,419
2,343
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.07
-0.07
-0.08
- -
-0.08
2025
0.08
0.08
0.02
- -
0.18
2026
0.14
0.02
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.09
- -
- -
0.09
2025
- -
0.06
- -
- -
0.06
2026
- -
0.11
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Ren Hua Ho
Full Time Employees
1,375
Sector
Consumer non-durables
Industry
Food: specialty/candy
Address
Thai Wah Tower I Bangkok BM Thailand 10120
IPO Date
Oct 5, 2015
Website
thaiwah.com
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Business
Thai Wah Public Company Limited manufactures and distributes tapioca starch and starch-related products, food products, and biodegradable products primarily in Thailand, Vietnam, China, Cambodia, Indonesia, and other international markets; its core offerings include native tapioca flour and starch, modified starch, glucose syrup, tapioca pearls, alpha starch, rice flour and starch, organic products, bean vermicelli, rice noodles, rice vermicelli, mung bean starch noodles, noodle kits, instant noodles, Korean fresh and dried noodles, rice paper products, thermoplastic starch resin for single-use packaging, agricultural films, consumer goods, and electricity generation; brands encompass ROSE for starch products, Double Kilin, New Grade, and Double Dragon for food items. Founded in 1947 and headquartered in Bangkok, Thailand, the company operates through three main segments—Starch, Food, and Other—with production facilities across Southeast Asia and collaborations with over 50,000 smallholder farmers. Recent developments include a February 2024 partnership with Alltech to advance carbon reduction, precision nutrition, digital farming, and waste management in the Asian agri-food sector; allocation of US$60 million for business expansion and mergers & acquisitions, including talks with an Indian company and 2-3 deals in negotiation; a new business venture in Thailand through partnership with Fuji Nihon; and a letter of intent by Ho KwonPing to acquire an additional 6.50% stake for THB 200 million.