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    Manufacturing - Metal Fabrication
STP&I Public Company Limited

STP&I Public Company Limited

STPI.BK
STP&I Public Company LimitedTH flagStock Exchange of Thailand
5.20
THB
-0.05
- -
9.42BMarket Cap
STP&I Public Company Limited
STPI.BK
(Stock Exchange of Thailand)

Recent

price

5.20

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
3.05
0.63
1.94
3.49
7.22
8.22
5.96
0.62
0.73
1.45
1.1
1.41
2.35
2.43
1.5
1.88
1.79
Revenue per Share
1.29
0.25
0.64
1.18
1.62
1.6
0.84
-1.54
-0.39
1.29
-0.52
0.2
-0.09
0.13
0.05
0.11
0.05
Basic EPS, GAAP
0.43
0.09
1.02
-0.5
0.64
-0.21
1.16
0.26
-0.66
1.38
-0.45
0.7
-0.21
0.49
0.16
0.57
0.56
Free Cash Flow per Basic Share
0.81
0.3
0.07
0.23
0.31
0.45
0.37
0.39
- -
0.34
0.06
- -
- -
- -
- -
- -
- -
Dividend per Share
1.19
1.18
1.77
2.7
4.02
5.16
5.63
3.7
3.32
4.26
3.65
3.88
3.78
3.94
3.82
3.68
3.69
Book Value per Share
2.07
2.05
2.74
3.61
4.93
6.07
6.32
4.39
3.96
4.57
4.49
4.7
4.57
4.72
4.57
4.25
4.31
Tangible Book Value per Share
1,565
1,598
1,615
1,624
1,625
1,625
1,625
1,625
1,625
1,625
1,608
1,599
1,599
1,599
1,675
1,812
1,812
Basic Weighted Avg Shares
4,770
1,001
3,140
5,669
11,737
13,362
9,690
1,005
1,188
2,361
1,763
2,259
3,756
3,888
2,507
3,409
3,236
Sales/Revenue/Turnover
38.11
30.65
36.17
33.2
24.71
27.89
14.18
-100.82
-56.43
8.42
-30.42
0.11
-3.19
6.61
5.46
12.53
5.27
Operating Margin (%)
179
181
159
178
268
299
295
286
306
341
416
253
189
182
301
538
543
Depreciation Expense
2,021
400
1,039
1,909
2,627
2,595
1,366
-2,496
-629
2,089
-837
320
-145
201
91
195
95
Net Income, GAAP
2.66
0.78
22.72
11.49
13.98
15.54
16.73
- -
- -
0.06
- -
34.24
- -
- -
37.97
15.69
8.4
Effective Tax Rate (%)
42.38
39.91
33.1
33.67
22.39
19.42
14.1
-248.26
-52.96
88.5
-47.45
14.18
-3.86
5.17
3.63
5.72
2.94
Profit Margin (%)
1,311
1,568
2,429
3,036
5,201
7,145
8,116
2,346
1,400
3,101
2,165
3,800
3,023
1,219
781
1,250
1,123
Working Capital
2
13
24
10
14
12
5
2
744
1,865
2,845
1,020
862
673
2,600
2,902
2,774
LT Debt
3,238
3,284
4,425
5,911
8,045
9,893
11,237
8,095
7,583
9,090
7,671
7,957
7,748
7,820
9,105
9,193
9,294
Total Equity
59.78
9.21
22.3
31.53
35.01
34.21
10.68
- -
- -
2.14
- -
0.02
- -
- -
0.84
3.03
1.2
Return on Invested Capital (%)
105.47
21.09
43.55
52.62
48.02
34.75
15.15
- -
- -
27.44
- -
5.05
- -
- -
2.31
3.25
2.05
Return on Capital (%)
106.22
21.28
43.83
52.71
48.07
34.76
15.58
-32.94
-11.04
33.93
-13.07
5.31
-2.37
3.25
1.43
2.99
1.43
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
1,418
761
635
LT Borrowings
1,690
2,242
2,147
LT Finance Leases
684
660
627
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,812
1,812
1,812
Market Capitalization
8,626
8,191
7,539

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
3,032
2,730
2,464
Cash, Cash Equivalents & STI
693
520
421
Accounts Receivable, Net
1,041
990
844
Inventories
204
179
168
Total Current Liabilities
2,085
1,480
1,340
Payables & Accruals
526
449
402
ST Debt
1,418
761
635
Deferred Revenue
70
155
200

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
0.3%
3.89%
0.97%
Free Cash Flow
-203.73%
-102.7%
273%
Net Income, GAAP
-143.93%
-92.49%
114.52%
Sales/Revenue/Turnover
7.28%
19.67%
35.96%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,107
441
318
641
2,507
2025
791
927
865
826
3,409
2026
617
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.13
0.02
-0.14
- -
0.05
2025
0.07
0.05
0.04
- -
0.11
2026
0.01
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
STP&I Public Company Limited engages in the fabrication of steel structures, piping systems, and modular plants, alongside the manufacture and sale of boilers and pressure vessels for industrial applications. The company offers steel structures for power plants including boiler structures and turbine buildings, petrochemical refineries and gas separation plants, infrastructure projects such as bridges, elevated highways, airports, high-rise buildings, and exhibition halls; piping pre-fabrication and erection services for power, oil refinery, petrochemical, and offshore process plants; offshore and onshore modules with assembly capacity of 30,000 tons per annum; engineering, fabrication including cutting, rolling, welding, blasting, and painting, construction support, and plant module construction services; construction equipment manufacturing, sales, and rental; electricity production and distribution from waste products; municipal solid waste management; property development; and logistics services including land, office, and warehouse rentals. Founded in 1975 and headquartered in Bangkok, Thailand, STP&I operates fabrication facilities near key seaports such as Laem Chabang, Map Ta Phut, and Sriracha, with steel fabrication capacity of 50,000 tons per annum and piping fabrication of 1,000,000 diameter-inches per annum, serving markets in Thailand, Japan, Spain, and internationally across heavy industry, energy, and infrastructure sectors. In June 2024, the company announces the acquisition of assets from Impact Solar Group Limited, a subsidiary of ST Clean Planet (Asia) Limited, including shares in Impact Solar Group (Thailand) Co., Ltd., alongside a capital increase through issuance of new ordinary shares for private placement to support entry into renewable energy; it was formerly known as Sino-Thai Pressure Vessel & Iron Works prior to its 1995 name change.