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    Energy minerals

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    Oil & gas production
Mermaid Maritime Public Co., Ltd.

Mermaid Maritime Public Co., Ltd.

0.08
SGD
+0.00
(+4.05%)
0.01EPS
8.92P/E
183.40MMarket Cap
Nov 12Next Earn
2014 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
0.22
- -
0.24
0.13
0.1
0.07
0.07
0.06
0.08
0.16
0.2
0.36
0.3
0.21
Basic EPS, GAAP
0.03
- -
-0.16
0.01
- -
-0.02
-0.02
-0.08
-0.01
- -
0.01
0.01
- -
0.01
Free Cash Flow per Basic Share
-0.04
- -
-0.01
0.03
0.01
- -
- -
-0.01
-0.02
0.01
- -
-0.01
0.01
0.03
Dividend per Share
0.01
- -
0.01
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
0.4
- -
0.23
0.24
0.24
0.22
0.2
0.13
0.11
0.11
0.12
0.13
0.12
0.12
Tangible Book Value per Share
0.39
- -
0.23
0.24
0.24
0.22
0.2
0.13
0.11
0.11
0.12
0.13
0.12
0.12
Basic Weighted Avg Shares
1,410
1,413
1,413
1,413
1,413
1,413
1,413
1,413
1,413
1,413
1,411
1,413
1,650
1,887
Sales/Revenue/Turnover
313
- -
337
185
145
95
106
84
112
224
275
513
489
404
Operating Margin (%)
6.86
- -
-4.48
2.77
0.02
-33.22
-20.01
-31.07
-13.58
0.73
4.24
2.49
1.54
2.02
Depreciation Expense
32
- -
35
23
21
18
19
15
15
19
25
31
26
21
Net Income, GAAP
45
- -
-229
17
4
-27
-24
-110
-16
- -
10
14
7
16
Effective Tax Rate (%)
10.21
- -
- -
- -
1.31
- -
- -
- -
- -
82.42
13.59
13.66
9.17
- -
Profit Margin (%)
14.43
- -
-68.07
9.23
2.92
-28.7
-22.9
-130.88
-14.09
-0.09
3.48
2.68
1.47
3.93
Working Capital
147
- -
26
123
103
59
48
46
26
-14
7
1
99
89
LT Debt
107
- -
- -
80
68
52
44
44
35
39
44
19
83
73
Total Equity
562
- -
321
338
342
315
287
177
161
161
171
185
235
226
Return on Invested Capital (%)
2.87
- -
- -
- -
0.01
- -
- -
- -
- -
0.17
4.05
6.8
3.39
- -
Return on Capital (%)
7.27
- -
- -
- -
1.8
- -
- -
- -
- -
-0.07
5.69
7.29
4.75
- -
Return on Common Equity (%)
8.4
- -
- -
5.18
1.24
-8.27
-8.05
-47.17
-9.29
-0.12
5.8
7.77
3.44
8.05

Capital Structure

USD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
21
20
19
LT Borrowings
82
77
73
LT Finance Leases
1
1
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,891
1,891
1,891
Market Capitalization
190
168
142

Working Capital

USD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
226
231
218
Cash, Cash Equivalents & STI
66
70
66
Accounts Receivable, Net
107
156
145
Inventories
- -
- -
- -
Total Current Liabilities
127
133
129
Payables & Accruals
- -
- -
- -
ST Debt
21
20
19
Deferred Revenue
- -
- -
- -

Growth Rates

USD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-1.61%
6.49%
27.36%
Free Cash Flow
22.51%
133.67%
-267.75%
Net Income, GAAP
-579.44%
-1,041.6%
-47.7%
Sales/Revenue/Turnover
12.81%
47.71%
-4.68%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
88
158
150
117
513
2025
117
112
153
106
489
2026
82
62
- -
- -
- -

Quarterly Earnings Per Share

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
0.01
0.01
2025
-0.01
-0.01
0.01
- -
- -
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Chalermchai Mahagitsiri
Full Time Employees
376
Sector
Energy minerals
Industry
Oil & gas production
Address
Orakarn Building Bangkok BM Thailand 10330
IPO Date
Oct 17, 2007
Website
mermaid-group.com
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Business
Mermaid Maritime Public Company Limited is an international subsea services company specializing in full turnkey services for offshore oil and gas majors. Its core offerings include inspection, repair, and maintenance (IRM) services; transportation and installation (T&I) services; cable laying services; subsea vessels operation; diving and remotely operated vehicle (ROV) services; submarine product installation including cable transportation, installation engineering, surveys, cable installation with accessories, shore and platform cable pull-ins; offshore construction support; hydrographic and positioning surveys; and personnel and equipment provision. The company also delivers services through a diversified fleet of specialized vessels and advanced diving systems. Mermaid Maritime operates primarily across Southeast Asia, the Middle East, and increasingly in new geographies such as Africa, the UK, and potentially Australia and the North Sea. Founded in 1983 and headquartered in Bangkok, Thailand, Mermaid Maritime is a subsidiary of Thoresen Thai Agencies Public Company Limited. Recent strategic developments include the acquisition of four newbuild work-class remotely operated vehicles from Norway, a key investment to enhance operational capability. The company has secured approximately $430 to $500 million in new offshore project awards in the Middle East, reflecting its growing regional footprint. Mermaid Maritime has expanded its fleet by chartering saturation diving vessels to capture increased global demand, positioning itself to control nearly 10% of the global saturation diving fleet in its service space. The group has ventured into the offshore wind cable installation market and qualified as a decommissioning service provider, signaling diversification in energy-related subsea services. Mermaid also focuses on operational consolidation and rationalization, cost efficiency improvement, and enhanced fleet size with a cautious approach to capital expenditure to sustain financial flexibility. These actions form part of its “Strengthening our Core” strategy to safeguard the home market and facilitate growth into new sectors such as carbon capture and decommissioning, while expanding geographically in mature and emerging markets.