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True Corporation Public Company Limited

True Corporation Public Company Limited

TRUE-R.BK
True Corporation Public Company LimitedTH flagStock Exchange of Thailand
13.00
THB
- -
- -
449.18BMarket Cap
True Corporation Public Company Limited
TRUE-R.BK
(Stock Exchange of Thailand)

Recent

price

13.00

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
5.89
6.1
6.07
5.82
5.65
4.75
4.26
4.18
4.85
4.22
4.14
4.31
4.05
- -
5.96
5.66
5.7
Revenue per Share
0.11
-0.23
-0.5
-0.55
0.07
0.18
-0.1
0.02
0.21
0.17
0.03
-0.04
-0.55
- -
-0.32
0.27
-0.13
Basic EPS, GAAP
0.17
-0.54
-1.35
-0.18
-1.61
-1.97
-1.33
-1.28
-0.96
-0.96
-1.11
-0.71
-0.63
- -
0.96
0.59
0.85
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
0.01
- -
0.03
0.09
0.09
0.07
0.07
- -
- -
0.19
- -
Dividend per Share
3.05
8.2
6.07
4.86
9.43
3.04
3.48
3.07
3.23
2.99
1.78
1.66
1.05
- -
-2.08
-2.02
-1.91
Book Value per Share
-0.92
-1.1
-2.66
-2.46
1.3
-0.25
-0.83
-0.39
0.03
0.03
-1.73
-1.72
-2.01
- -
-5.04
-5.3
-4.54
Tangible Book Value per Share
10,596
11,802
14,721
16,523
19,342
25,021
29,263
33,368
33,368
33,368
33,362
33,344
33,362
- -
34,552
34,552
35,871
Basic Weighted Avg Shares
62,378
71,938
89,382
96,214
109,216
118,781
124,719
139,519
161,820
140,943
138,212
143,655
135,076
- -
206,020
195,669
204,615
Sales/Revenue/Turnover
11.75
5.66
1.79
-1.71
2.68
3.88
-0.39
2.95
12.61
3.76
7.7
8.64
1.64
- -
14.05
18.61
16.03
Operating Margin (%)
12,990
14,883
17,152
22,254
25,335
19,945
28,080
36,267
36,673
29,344
45,754
48,198
53,407
- -
72,025
70,847
70,448
Depreciation Expense
1,211
-2,694
-7,428
-9,063
1,294
4,412
-2,814
551
7,035
5,637
1,048
-1,428
-18,285
- -
-10,966
9,240
-4,653
Net Income, GAAP
34.44
488.8
- -
- -
- -
5.4
- -
70.7
46.34
28.05
1.99
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
1.94
-3.74
-8.31
-9.42
1.18
3.71
-2.26
0.4
4.35
4
0.76
-0.99
-13.54
- -
-5.32
4.72
-2.27
Profit Margin (%)
-8,712
-6,829
-23,775
-37,132
-30,064
-34,419
-42,413
-86,120
-79,568
-16,701
-71,380
-73,817
-90,013
-94,168
-115,403
-98,423
-96,793
Working Capital
64,675
77,976
86,805
76,261
33,137
55,522
60,490
49,924
68,054
178,030
272,243
297,345
306,267
379,182
330,826
349,104
328,464
LT Debt
11,064
21,469
14,004
4,649
70,726
75,207
127,481
128,184
133,884
126,019
85,617
81,818
61,407
86,140
74,185
75,147
77,174
Total Equity
5.64
-16.96
- -
- -
- -
3.11
- -
0.49
4.08
1.23
2.72
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
5.03
-26.92
- -
- -
- -
3.56
- -
1.01
4.03
3.84
4.58
- -
- -
- -
- -
- -
- -
Return on Capital (%)
4.36
-4.17
-7.98
-10.68
0.98
3.41
-3.16
0.54
6.69
5.43
1.32
-2.49
-40.37
- -
- -
- -
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
105,139
106,468
87,867
LT Borrowings
250,603
243,702
254,504
LT Finance Leases
80,223
77,374
73,960
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
34,552
34,552
34,552
Market Capitalization
420,916
421,107
398,166

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
94,009
80,195
78,123
Cash, Cash Equivalents & STI
26,832
14,249
13,839
Accounts Receivable, Net
33,934
32,956
32,403
Inventories
2,585
1,989
1,642
Total Current Liabilities
209,411
197,416
174,916
Payables & Accruals
94,795
81,029
77,544
ST Debt
105,139
106,468
87,867
Deferred Revenue
7,144
7,087
6,929

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.49%
-0.34%
1.3%
Free Cash Flow
- -
- -
-38.35%
Net Income, GAAP
- -
- -
-184.27%
Sales/Revenue/Turnover
- -
- -
-5.02%
Total Cash Common Dividend
- -
- -
181.23%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
51,347
51,091
50,840
52,742
206,020
2025
51,436
49,596
47,407
- -
195,669
2026
46,393
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.02
-0.05
-0.02
- -
-0.32
2025
0.05
0.06
- -
- -
0.27
2026
0.19
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
0.19
2026
- -
- -
- -
- -
- -
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Business
True Corporation Public Company Limited (TRUE-R.BK), Thailand's leading telecom-tech company headquartered in Bangkok and founded in 1990 as TelecomAsia, provides comprehensive telecommunications and digital services across mobile, broadband, pay TV, and digital lifestyle segments primarily in Thailand. The company offers mobile services through TrueMove H and DTAC TriNet, including voice, data, 4G/5G connectivity across all 77 provinces; fixed broadband and internet via True Online with ultra-high-speed access over seven spectrum bands and Wi-Fi at over 140,000 hotspots; pay TV through TrueVisions encompassing cable TV and IPTV; and digital solutions under True Digital covering entertainment, online games, smart home devices, IoT, cloud, AI platforms, security, and healthcare for consumers, SMEs, and enterprises. It operates as a joint venture between Charoen Pokphand Group and Telenor, each holding about 30% ownership following the landmark 2023 amalgamation with Total Access Communication PCL (dtac), Southeast Asia's largest telecom merger by enterprise value that created the entity on March 1, 2023. Recent developments include the October 2025 completion of full network integration under the One Network project, consolidating towers, pooling spectrum for enhanced 5G coverage and speeds (up 4.39 times for dtac users), introducing dynamic spectrum sharing on 2600-MHz and new 1500-MHz/2300-MHz bands from the June auction, and leveraging AI for 15-20% carbon emission reductions toward net-zero by 2030; the True-dtac deal also won the Stock Exchange of Thailand's Deal of the Year award in 2024, recognizing synergies worth THB 250 billion in technology, operations, procurement, and revenue.