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Siamrajathanee Public Company Limited

Siamrajathanee Public Company Limited

SO.BK
Siamrajathanee Public Company LimitedTH flagStock Exchange of Thailand
4.64
THB
- -
- -
2.21BMarket Cap
Siamrajathanee Public Company Limited
SO.BK
(Stock Exchange of Thailand)

Recent

price

4.64

P/E

ratio

- -

div

yld

- -

ROIC.AI

2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
4.43
4.74
4.97
5.24
5.58
4.57
4.38
4.7
4.93
5.38
5.95
6
Revenue per Share
0.3
0.4
0.34
0.29
0.32
0.31
0.35
0.35
0.39
0.32
0.48
0.48
Basic EPS, GAAP
0.62
0.53
0.19
0.44
0.43
0.55
0.69
0.51
0.69
0.61
0.95
0.99
Free Cash Flow per Basic Share
0.36
1.2
1.02
0.46
0.46
0.26
0.17
0.16
0.37
0.19
0.38
0.38
Dividend per Share
2.24
1.44
1.18
1.01
0.85
0.87
0.98
1.15
1.1
1.22
1.29
1.41
Book Value per Share
2.26
1.46
1.19
1.04
0.9
1.95
1.99
2.19
2.16
2.27
2.35
2.47
Tangible Book Value per Share
346
346
346
346
346
445
476
476
476
476
476
476
Basic Weighted Avg Shares
1,530
1,638
1,719
1,813
1,928
2,036
2,086
2,239
2,346
2,563
2,834
2,859
Sales/Revenue/Turnover
8.42
8.22
7.64
5.02
6.34
7.84
9.29
6.86
8.74
7.08
8.04
7.81
Operating Margin (%)
116
96
84
102
102
131
138
147
177
219
295
310
Depreciation Expense
102
138
116
101
109
140
168
169
184
153
228
230
Net Income, GAAP
17.22
16.83
19.41
18.65
20.32
21.96
20.17
20.24
20.29
20.51
20.45
20.57
Effective Tax Rate (%)
6.68
8.45
6.76
5.57
5.66
6.86
8.07
7.54
7.82
5.99
8.04
8.04
Profit Margin (%)
167
134
-44
-113
-167
268
344
255
159
78
43
56
Working Capital
144
100
133
169
189
355
258
465
553
681
732
726
LT Debt
780
505
416
364
316
869
952
1,043
1,031
1,084
1,120
1,175
Total Equity
- -
12.94
13.82
8.73
10.78
10.72
11.26
7.98
9.21
7.3
8.32
7.65
Return on Invested Capital (%)
- -
16.26
15.49
12.58
12.86
15.75
18.81
16
14.2
10.41
13.56
12.65
Return on Capital (%)
- -
21.8
25.68
26.72
33.93
40.9
39.47
33.33
34.19
27.78
38.15
35.29
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
385
410
375
LT Borrowings
- -
- -
- -
LT Finance Leases
796
732
726
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
476
476
476
Market Capitalization
2,143
1,924
2,162

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
565
601
600
Cash, Cash Equivalents & STI
20
43
50
Accounts Receivable, Net
272
269
276
Inventories
- -
- -
- -
Total Current Liabilities
563
558
543
Payables & Accruals
124
93
116
ST Debt
385
410
375
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
12.29%
5.28%
3.28%
Free Cash Flow
20.35%
17.24%
56.05%
Net Income, GAAP
10.39%
12.35%
48.55%
Sales/Revenue/Turnover
6.38%
6.88%
10.56%
Total Cash Common Dividend
28.09%
29.38%
95.43%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
598
605
661
699
2,563
2025
687
697
719
731
2,834
2026
713
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.06
0.05
0.09
- -
0.32
2025
0.11
0.18
0.09
- -
0.48
2026
0.12
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.19
2025
- -
0.18
0.2
- -
0.38
2026
- -
- -
- -
- -
- -
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Business
Siamrajathanee Public Company Limited (SO.BK) operates as a leading provider of public transportation and mobility solutions in Thailand, primarily focusing on bus operations, airport services, and related infrastructure. The company offers core products and services including city bus operations under the BMTA concession; airport bus services connecting Suvarnabhumi and Don Mueang airports to key locations in Bangkok and surrounding areas; electric bus manufacturing and leasing through its subsidiary; premium limousine bus services for intercity travel; and advertising space management on its fleet and properties. It also provides vehicle maintenance, electric vehicle charging stations, and digital ticketing platforms to enhance passenger experience and sustainability. Founded in 2004 and headquartered in Bangkok, Thailand, Siamrajathanee serves urban commuters, airport passengers, and corporate clients across Thailand, with operations concentrated in the Greater Bangkok region and select provincial routes. The company targets mass transit users, tourists, and businesses seeking reliable ground transportation, positioning itself in the transportation and logistics industry segments. In recent developments within the last two years, Siamrajathanee expanded its electric bus fleet through a major procurement and delivery of battery-electric buses for BMTA routes, supporting Thailand's green transportation initiatives; formed strategic partnerships with technology providers for smart ticketing and fleet management systems; and pursued business growth via new route concessions and infrastructure projects at key airports. Additionally, the company secured funding for EV infrastructure expansion and announced operational enhancements, including pilot programs for autonomous shuttle services. These changes underscore its shift toward sustainable mobility and digital integration.