Thai Beverage Public Company Limited

Thai Beverage Public Company Limited

TBVPF
Thai Beverage Public Company LimitedUS flagOther OTC
0.32
USD
-0.02
- -
8.04BMarket Cap
Thai Beverage Public Company Limited
TBVPF
(Other OTC)

Recent

price

0.32

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
4.8
5.26
6.41
6.2
6.45
6.85
5.54
7.57
9.15
10.65
10.09
9.58
10.84
13.25
13.54
13.26
10.47
Revenue per Share
0.42
0.48
1.13
0.76
0.86
1.05
0.75
1.37
0.71
0.93
0.91
0.98
1.2
1.09
1.08
1.01
0.94
Basic EPS, GAAP
0.48
0.36
0.59
0.53
0.78
0.73
0.62
0.96
0.59
1.3
1.3
1.13
1.65
1.21
1.14
1.29
1.1
Free Cash Flow per Basic Share
0.33
0.35
0.36
0.42
0.45
0.61
0.66
0.6
0.62
0.39
0.43
0.51
0.5
0.6
0.6
0.62
0.15
Dividend per Share
2.21
2.31
3.09
3.51
3.92
4.36
4.57
5.24
5.34
5.79
6.28
6.76
7.45
7.94
8.42
8.8
6.04
Book Value per Share
2.13
2.22
3.09
3.61
3.88
4.46
4.63
5
-1.53
-1.35
-0.56
0.58
1.73
3.62
1.22
1.09
-1.01
Tangible Book Value per Share
25,110
25,110
25,110
25,110
25,110
25,110
25,110
25,110
25,111
25,114
25,116
25,119
25,121
25,124
25,128
25,130
24,996
Basic Weighted Avg Shares
120,472
132,187
161,044
155,771
162,040
172,049
139,153
189,997
229,695
267,357
253,481
240,543
272,359
332,931
340,289
333,286
261,829
Sales/Revenue/Turnover
12.48
13.12
14.35
13.62
14.51
13.71
14.38
14.57
11.09
11.86
13.65
14.04
14.17
11.9
12.47
12.32
12.44
Operating Margin (%)
4,542
3,426
3,929
3,933
3,986
4,400
3,293
4,308
6,086
6,635
6,565
7,831
7,761
10,028
10,201
10,346
6,609
Depreciation Expense
10,551
12,031
28,493
19,130
21,694
26,463
18,920
34,510
17,943
23,272
22,752
24,645
30,106
27,434
27,216
25,361
23,440
Net Income, GAAP
28.01
30.76
15.18
18.23
17.52
14.56
16.06
12.89
18.65
16.7
20.85
14.49
13.61
14.98
18.01
18.44
18.39
Effective Tax Rate (%)
8.76
9.1
17.69
12.28
13.39
15.38
13.6
18.16
7.81
8.7
8.98
10.25
11.05
8.24
8
7.61
8.95
Profit Margin (%)
16,821
23,937
16,556
23,494
10,032
15,037
17,285
8,250
37,510
28,509
-4,438
-176
21,564
20,162
36,356
42,935
-11,269
Working Capital
600
11,200
88,146
55,343
27,555
25,883
27,089
10,000
216,804
197,975
152,805
156,545
157,789
167,480
176,968
189,368
154,595
LT Debt
56,880
63,202
84,971
97,993
104,676
119,266
123,712
132,719
155,470
150,322
179,405
210,176
249,389
313,037
229,055
215,820
169,526
Total Equity
15.53
15.71
14.2
9.64
11.89
12.39
9.91
13.82
7.31
6.91
7.06
6.86
7.32
6.53
6.71
7.17
6.82
Return on Invested Capital (%)
15.92
17.07
21.97
12.27
14.96
17.92
12.1
20.63
7.06
6.6
6.17
6.57
7.07
6.15
5.67
4.98
6.44
Return on Capital (%)
18.95
21.17
42.03
23.1
23.26
25.46
16.87
28
13.51
16.66
15.01
15.04
16.86
14.19
13.24
11.73
16.04
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Sep'19
Dec'20
Mar'20
ST Debt
21,608
14,620
67,695
LT Borrowings
197,975
198,131
154,595
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
25,114
25,114
25,116
Market Capitalization
425,803
410,671
286,635

Working Capital

FRC

in mil. unless spec.
Sep'19
Dec'20
Mar'20
Total Current Assets
77,318
80,362
84,047
Cash, Cash Equivalents & STI
24,362
27,520
25,633
Accounts Receivable, Net
5,094
5,921
6,149
Inventories
42,876
41,970
46,505
Total Current Liabilities
48,809
44,884
95,316
Payables & Accruals
- -
- -
- -
ST Debt
21,608
14,620
67,695
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
7.29%
5.74%
-5.78%
Free Cash Flow
13.46%
2.69%
12.55%
Net Income, GAAP
4.73%
2.8%
-6.82%
Sales/Revenue/Turnover
8%
6.1%
-2.06%
Total Cash Common Dividend
1.57%
8.01%
3.34%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
85,832
- -
- -
- -
340,289
2025
85,352
- -
- -
- -
333,286
2026
86,516
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.28
- -
- -
- -
1.08
2025
0.27
- -
- -
- -
1.01
2026
0.29
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.6
2025
- -
- -
- -
- -
0.62
2026
- -
- -
- -
- -
- -
Business
Thai Beverage Public Company Limited produces and distributes alcoholic and non-alcoholic beverages along with food products across Thailand, Vietnam, Malaysia, Myanmar, Singapore, and other international markets. The company operates through Spirits, Beer, Non-Alcoholic Beverages, Food, and Others segments; its core offerings encompass spirits such as brown spirits including SangSom rum, Mekhong rum, Mungkorn Thong, Hong Thong, and white spirits like Ruang Khao; beers encompassing flagship Chang beer (including Chang Classic at 4.8% ABV), Archa, Federbrau, and brands from its Sabeco subsidiary such as Saigon Beer and 333; non-alcoholic beverages including Oishi green tea, Est cola, carbonated soft drinks, functional drinks, herbal teas, energy drinks, ready-to-drink juices, UHT milk, yogurt, and ice cream; and food products like chilled and frozen items, confectionery, and processed foods. Additional services include trading of molasses, fertilizers, and feeds; transportation, logistics, and distribution; retail of food, beverages, and tobacco through restaurants and bakeries; production of biogas, metal and plastic packaging, and beer concentrates; property development and rental; e-commerce; asset management; and digital technology services. Thai Beverage maintains 31 distilleries and spirits plants, 29 breweries, and 31 non-alcoholic beverage facilities primarily in Thailand, with further operations including five distilleries in Scotland for Scotch whisky, vodka, gin, and liqueurs, as well as facilities in Vietnam and China; it targets consumer markets in Southeast Asia and exports globally. Founded in 2003 through the consolidation of 58 beer and spirits businesses and headquartered at 14 Vibhavadi Rangsit Road, Chomphon, Chatuchak, Bangkok, Thailand, the company lists on the Singapore Exchange (SGX: Y92) as Thailand's Stock Exchange prohibits alcohol-related listings. In September 2024, its indirect subsidiary InterBev Investment Limited completed a share swap transaction valued at approximately SGD 2.1 billion with TCC Assets Limited, increasing its stake in Fraser and Neave Limited from 28.31% to 69.64% and establishing Thai Beverage as the holding company of F&N; the company also pursues expansion with an allocation of 18 billion baht in 2024 for domestic and international growth, including small mergers and acquisitions in beer operations, while reviving plans for an initial public offering of its beer business and exploring regional equity partnerships under majority control.

Company News

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