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Thoresen Thai Agencies Public Company Limited

Thoresen Thai Agencies Public Company Limited

TTA.BK
Thoresen Thai Agencies Public Company LimitedTH flagStock Exchange of Thailand
4.78
THB
-0.10
- -
8.63BMarket Cap
Thoresen Thai Agencies Public Company Limited
TTA.BK
(Stock Exchange of Thailand)

Recent

price

4.78

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
21.46
19.97
17.79
16.16
- -
12.49
7.5
7.35
7.65
8.47
7.04
12.14
16.09
13.16
17.67
16.44
15.93
Revenue per Share
0.21
-5.49
-4.93
0.77
- -
-6.61
-0.23
0.32
0.12
0.31
-1.07
2.12
1.79
0.67
0.73
0.83
0.48
Basic EPS, GAAP
-4.86
0.63
-0.49
-3.15
- -
-0.41
0.98
-0.29
-0.01
0.46
-0.33
1.81
1.57
0.01
-0.11
0.89
2.54
Free Cash Flow per Basic Share
0.66
0.44
- -
- -
- -
0.22
0.05
0.05
0.08
0.05
0.06
0.02
0.22
0.22
0.18
0.22
0.22
Dividend per Share
26.57
20.93
11.84
10.14
- -
1.37
1.01
1.28
1.32
1.21
0.08
2.15
4.6
4.94
5.49
6.07
6.29
Book Value per Share
30.17
27.01
23.27
22.78
- -
15.66
14.48
13.62
13.27
12.21
10.4
13.23
15.26
14.86
15.49
14.01
16.09
Tangible Book Value per Share
818
818
1,038
1,326
- -
1,715
1,822
1,822
1,822
1,822
1,822
1,822
1,822
1,822
1,822
1,819
1,801
Basic Weighted Avg Shares
17,565
16,347
18,463
21,431
- -
21,426
13,662
13,392
13,946
15,428
12,830
22,128
29,321
23,976
32,206
29,909
28,701
Sales/Revenue/Turnover
0.24
1.81
1
4.23
- -
-7
-2.01
2.74
-2.01
-3.12
-7.49
16.25
11.45
4.59
4.08
0.17
1.27
Operating Margin (%)
2,500
1,821
1,865
1,859
- -
2,263
1,458
1,374
1,388
1,451
1,474
1,532
1,850
2,187
2,474
2,284
2,171
Depreciation Expense
173
-4,494
-5,119
1,015
- -
-11,335
-418
588
210
563
-1,945
3,859
3,269
1,217
1,323
1,516
864
Net Income, GAAP
76.89
- -
- -
16.21
- -
- -
- -
12.41
- -
39.97
- -
3.31
0.67
1.37
8.91
3.92
0.6
Effective Tax Rate (%)
0.99
-27.49
-27.73
4.74
- -
-52.9
-3.06
4.39
1.51
3.65
-15.16
17.44
11.15
5.08
4.11
5.07
3.01
Profit Margin (%)
5,227
3,283
8,460
6,265
6,353
9,898
8,224
4,673
6,913
8,406
6,841
12,143
9,570
10,346
12,554
6,948
8,999
Working Capital
10,649
9,395
10,634
9,332
9,742
7,142
7,032
4,084
7,491
6,707
6,078
7,634
5,090
7,439
9,604
6,397
7,264
LT Debt
29,101
24,080
25,442
31,442
32,474
26,988
26,495
25,054
24,587
22,599
19,191
24,400
29,559
30,105
31,923
31,555
34,786
Total Equity
0.02
- -
- -
1.79
- -
- -
- -
0.9
- -
-0.89
- -
10.93
8.99
2.74
2.84
0.11
0.8
Return on Invested Capital (%)
0.95
- -
- -
2.37
- -
- -
- -
4.73
- -
7.42
- -
29.09
19.43
8.29
7.39
8.24
5.44
Return on Capital (%)
0.78
-23.12
-34.8
7.89
- -
-153.21
-20
28.2
8.87
24.38
-164.38
189.22
53.1
14
13.93
14.41
7.79
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
3,741
5,412
4,120
LT Borrowings
7,963
6,161
7,052
LT Finance Leases
230
236
212
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,818
1,806
1,806
Market Capitalization
8,565
7,661
8,898

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
17,745
17,620
19,173
Cash, Cash Equivalents & STI
6,855
8,458
9,593
Accounts Receivable, Net
4,519
4,646
4,952
Inventories
1,749
1,504
1,510
Total Current Liabilities
9,181
10,672
10,175
Payables & Accruals
4,882
4,653
5,251
ST Debt
3,741
5,412
4,120
Deferred Revenue
162
119
274

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
2.27%
11%
-1.15%
Free Cash Flow
-754.35%
-598.63%
-913.19%
Net Income, GAAP
-103.22%
-70.64%
14.56%
Sales/Revenue/Turnover
7.36%
22.79%
-7.13%
Total Cash Common Dividend
- -
- -
22.21%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
6,523
9,542
8,776
7,365
32,206
2025
7,295
7,227
8,251
7,136
29,909
2026
6,087
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.61
0.24
-0.6
- -
0.73
2025
0.47
0.05
0.28
- -
0.83
2026
0.11
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.18
- -
- -
0.18
2025
- -
0.22
- -
- -
0.22
2026
- -
- -
- -
- -
- -
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Business
Thoresen Thai Agencies Public Company Limited (TTA.BK) operates as a strategic investment holding company with diversified interests across shipping, offshore services, agrochemicals, food and beverage, and other investments; it owns and operates dry bulk vessels for hauling mineral ores, coal, agricultural products, construction materials, and steel products; provides offshore services including diving, remotely operated vehicles (ROV), subsea and hydrographic surveys, decommissioning, and installation projects through subsidiaries like Mermaid Subsea Services; produces and distributes fertilizers and agrochemicals via entities such as Baconco in Vietnam; franchises and operates Pizza Hut (over 185 locations) and Taco Bell (over 25 locations) restaurants in Thailand; and pursues investments in sectors including energy, logistics, real estate, water management, electric vehicles (EV trucks and motorcycles via P80 Group), airlines (P80 Air and P80 Jet), liquefied petroleum gas (LPG) shipping (Petrolift), and digital assets. The company conducts operations geographically in Asia (primarily Thailand and Vietnam), Africa, Europe, the United States, Oceania, and the Middle East, serving industries such as maritime transport, oil and gas, agriculture, quick-service restaurants, and infrastructure. Founded in 1904 with headquarters in Bangkok, Thailand, TTA maintains subsidiaries and joint ventures including Thoresen Shipping Singapore, Siam Taco, PH Capital, V Ventures Technologies, Asia Infrastructure Management, and PM Thoresen Asia Holdings. Recent developments include the acquisition of a 2.117% stake in Valeura Energy Inc. through open-market purchases from December 2024 to January 2025 at an average price of C$6.86 per share for C$14.5 million; establishment of subsidiaries like Mermaid Decom for decommissioning services, P80 Air and P80 Jet for aviation, and Thoresen FSO for floating storage and offloading; expansion of EV offerings with launches such as the King Long Dracon electric pickup truck and BABOON BBN-400LAT motorcycle at Motor Expo 2024; ongoing fleet acquisitions including second-hand dry bulk vessels; and recognition as a member of the Thailand Sustainability Investment index in 2022 along with strong 9M/2025 financial performance showing EBITDA growth from improved offshore margins and gains from digital asset disposals.