1. Thailand Stocks

  2. •

    Producer manufacturing

  3. •

    Metal fabrication
Varopakorn Public Co., Ltd.

Varopakorn Public Co., Ltd.

5.80
THB
-0.05
(-0.85%)
1.55EPS
2.59P/E
399.61MMarket Cap
Varopakorn Public Co., Ltd.
SET:VARO.R
(Stock Exchange of Thailand)

Recent

price

5.80

P/E

ratio

2.59

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
THB
19.79
18.9
17.89
14.34
15.73
14.95
14.65
15.64
17.98
15.71
10.21
25.78
37.58
25.12
29.86
27.85
26.67
Revenue per Share
0.32
0.53
-0.56
-0.97
0.03
-0.28
0.18
0.12
0.28
-1.49
-1.38
0.04
-0.59
-1.09
1.31
0.7
1.55
Basic EPS, GAAP
-0.29
0.28
-1.38
2.02
-0.81
3.5
-0.83
-1.01
-0.06
-0.49
-0.09
-6.92
3.48
0.17
-0.3
2.54
1.83
Free Cash Flow per Basic Share
0.18
0.1
0.2
- -
- -
- -
- -
0.12
0.2
0.17
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
12.47
12.67
11.72
10.75
10.79
10.51
10.71
10.71
10.78
9.14
7.77
7.81
8.79
7.72
9.03
10.04
11.53
Book Value per Share
12.45
12.62
11.64
10.66
10.71
10.44
10.64
10.65
10.74
9.11
7.75
7.8
8.78
7.71
9.02
10.04
11.53
Tangible Book Value per Share
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
99
Basic Weighted Avg Shares
1,977
1,888
1,788
1,433
1,571
1,494
1,463
1,563
1,796
1,569
1,020
2,576
3,755
2,510
2,983
2,782
2,649
Sales/Revenue/Turnover
2.42
3.08
-3.28
-6.97
1.46
-2.12
1.91
1.74
-0.01
-10.56
-14.04
1.22
0.01
-2.38
4.72
3.43
5.27
Operating Margin (%)
125
115
100
107
111
106
106
104
103
104
100
94
97
109
96
91
88
Depreciation Expense
32
53
-56
-97
3
-27
18
12
28
-149
-138
4
-59
-109
130
69
154
Net Income, GAAP
22.64
12.1
- -
- -
21.35
- -
3.05
- -
- -
- -
- -
- -
- -
- -
0.13
- -
1.79
Effective Tax Rate (%)
1.63
2.82
-3.11
-6.74
0.19
-1.84
1.26
0.75
1.54
-9.49
-13.54
0.15
-1.57
-4.32
4.37
2.5
5.8
Profit Margin (%)
118
210
26
34
138
169
250
221
263
246
153
183
139
63
215
299
425
Working Capital
51
83
5
99
108
73
45
17
5
188
154
121
91
64
38
12
- -
LT Debt
1,246
1,266
1,171
1,074
1,078
1,050
1,070
1,070
1,077
913
777
780
878
772
902
1,003
1,152
Total Equity
3.07
2.97
- -
- -
0.16
- -
1.41
- -
- -
- -
- -
- -
- -
- -
9.76
- -
9.29
Return on Invested Capital (%)
3.07
4.04
- -
- -
1
- -
2.12
- -
- -
- -
- -
- -
- -
- -
9.75
- -
9.29
Return on Capital (%)
2.61
4.24
-4.56
-8.61
0.27
-2.58
1.74
1.09
2.57
-14.96
-16.36
0.5
-7.09
-13.15
15.59
7.29
14.49
Return on Common Equity (%)

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
798
1,069
784
LT Borrowings
11
5
- -
LT Finance Leases
1
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
100
100
100
Market Capitalization
460
432
400

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,409
1,645
1,572
Cash, Cash Equivalents & STI
28
26
78
Accounts Receivable, Net
611
801
606
Inventories
704
746
813
Total Current Liabilities
1,111
1,281
1,147
Payables & Accruals
297
205
354
ST Debt
798
1,069
784
Deferred Revenue
- -
- -
- -

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
0.14%
5.8%
11.21%
Free Cash Flow
675.27%
1,273.49%
-952.26%
Net Income, GAAP
-261.75%
-380.6%
-46.75%
Sales/Revenue/Turnover
14.93%
35.44%
-6.72%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
753
645
746
839
2,983
2025
923
708
456
694
2,782
2026
802
697
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.29
0.27
0.3
0.44
1.31
2025
0.65
- -
-0.18
0.22
0.7
2026
0.62
0.87
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
Similar Companies
USA Rare Earth, Inc. (NASDAQ:USAR)
Azad Engineering Limited (NSE:AZAD)
Bharat Forge Ltd (NSE:BHARATFORG)
Jyoti Cnc Automation Limited (NSE:JYOTICNC)
Rolex Rings Limited (NSE:ROLEXRINGS)
Shyam Metalics & Energy Ltd. (NSE:SHYAMMETL)
Business
Varopakorn Public Company Limited manufactures and distributes semi-finished aluminum products, including automotive finstocks for radiator fins, intercoolers, condensers and evaporator units; precoated finstocks to prevent water formation; bare finstocks for heat ventilation screens in air conditioners; cap stocks for pilfer-proof caps on energy drinks, electrolyte beverages, liquid medicines and whisky; foils as raw materials in construction; and aluminum sheets and coils for satellite dishes, traffic signs, plate eyelets and refrigerator freezer bonds. The company operates primarily in Thailand with distribution across Asia, Oceania, the United States and Europe, targeting the automotive, air conditioning, beverage packaging and manufacturing industries. Founded in 1979 and headquartered in Bangkok, Thailand, Varopakorn maintains a state-of-the-art production facility in Samut Prakan province and listed on the Stock Exchange of Thailand in 1994. Recent board changes include the appointment of Thanawat Sornjai as Managing Director and Director in 2023, alongside ongoing research and development efforts to enhance product quality and meet industry standards.