1. Thailand Stocks

  2. •

    Utilities

  3. •

    Regulated Water
TTW Public Company Limited

TTW Public Company Limited

TTAPY
TTW Public Company LimitedUS flagOther OTC
15.11
USD
- -
- -
1.21BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
64.94
67.45
68.04
67.41
70.38
74.02
76.6
77.44
72.76
71.32
73.01
63.88
65.64
65.85
Basic EPS, GAAP
32.25
37.24
33.59
31.02
33.5
35.5
39.2
36.99
38.9
37.18
36.75
34.97
40.93
40.98
Free Cash Flow per Basic Share
37.37
43.99
33.59
19.15
37.54
47.45
47.9
46.43
42.73
43.96
44.48
32.36
35.9
38.57
Dividend per Share
27.49
32.5
32.5
30
30.11
29.91
30
29.99
29.99
30
30
29.99
29.99
30
Book Value per Share
95.64
97.45
95.11
93.02
96.72
101.65
111.2
118.19
127.05
134.23
141.05
146.03
156.94
165.37
Tangible Book Value per Share
98.06
105.8
109.31
113.64
121.44
129.72
142.58
152.82
162.05
172.01
181.13
186.43
199.33
207.36
Basic Weighted Avg Shares
80
80
80
80
79
80
80
80
80
80
80
80
80
80
Sales/Revenue/Turnover
5,182
5,383
5,430
5,379
5,595
5,926
6,113
6,180
5,806
5,691
5,827
5,098
5,238
5,255
Operating Margin (%)
59.02
62.43
62.2
63.18
63.05
62
63.05
61.82
59.79
56.08
56.86
62.21
63.6
63.06
Depreciation Expense
891
890
889
897
980
1,062
1,121
1,166
1,229
1,333
1,186
643
661
696
Net Income, GAAP
2,574
2,972
2,681
2,476
2,663
2,842
3,128
2,951
3,104
2,967
2,932
2,791
3,266
3,270
Effective Tax Rate (%)
16.6
4.97
12.3
19.58
19.08
17.72
18.13
18.74
17.26
18.06
16.82
18.04
16.82
16.65
Profit Margin (%)
49.66
55.21
49.37
46.02
47.6
47.96
51.17
47.76
53.46
52.13
50.33
54.75
62.35
62.23
Working Capital
3,710
5,441
4,034
3,429
1,233
1,672
-434
2,611
1,207
2,192
2,430
627
2,177
1,578
LT Debt
10,723
11,509
11,837
12,248
9,190
8,256
5,696
7,557
5,089
4,324
3,657
1,587
5,329
4,177
Total Equity
11,011
11,390
11,430
11,535
11,878
12,365
13,125
13,700
14,195
14,750
15,282
15,711
16,697
17,325
Return on Invested Capital (%)
10.55
13.36
11.89
10.67
11.9
13.24
13.86
13.8
12.95
12.14
13.49
13.16
13
12.6
Return on Capital (%)
14.76
17.18
14.94
13.1
15.18
17.02
18.38
17.53
18.54
17.94
18.78
18.65
19.79
19.3
Return on Common Equity (%)
34.1
38.57
34.89
32.98
35.25
35.91
36.77
32.25
31.72
28.46
26.7
24.37
27.02
25.63

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
720
653
1,593
LT Borrowings
5,385
5,292
4,145
LT Finance Leases
33
37
32
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
3,990
3,990
3,990
Market Capitalization
36,273
38,264
36,512

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
2,806
3,386
3,829
Cash, Cash Equivalents & STI
2,257
2,828
3,260
Accounts Receivable, Net
470
487
484
Inventories
30
32
31
Total Current Liabilities
1,165
1,209
2,250
Payables & Accruals
350
493
598
ST Debt
720
653
1,593
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.88%
4.04%
6.28%
Free Cash Flow
5.69%
-4.04%
10.96%
Net Income, GAAP
2.28%
2.36%
17.02%
Sales/Revenue/Turnover
-0.21%
-3.08%
2.76%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,249
1,277
1,287
1,284
5,098
2025
1,279
1,299
1,325
1,336
5,238
2026
1,296
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
6.31
7.8
11.47
- -
34.97
2025
8.38
9.98
12.23
- -
40.93
2026
8.43
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
15
14.98
- -
29.99
2025
- -
15
14.99
- -
29.99
2026
- -
- -
- -
- -
- -

Company Description

APIChatGPT
CEO
Walainut Trivisvavet
Full Time Employees
134
Sector
Utilities
Industry
Regulated Water
Address
30/130 Moo 12 Sam Phran NPT Thailand 73210
IPO Date
Aug 13, 2012
Website
ttwplc.com
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Business
TTW Public Company Limited (TTW.BK) operates as a water utility provider in Thailand, primarily engaged in the production and distribution of treated water for industrial and residential use; operation of water transmission pipelines; and provision of water management services including wastewater treatment and consulting. The company offers core products and services such as bulk treated water supply from its Nong Khae plant and Pasak River intake facilities, serving major industrial estates in central Thailand; pipeline transmission and maintenance for the Provincial Waterworks Authority (PWA); and engineering solutions for water infrastructure projects. TTW targets industrial customers, governmental entities, and residential consumers in the water and wastewater sectors, with operations concentrated in Thailand's central, eastern, and northeastern regions. Founded in 1999 and headquartered in Nonthaburi, Thailand, the company functions as a key concessionaire under long-term agreements with PWA and the Industrial Estate Authority of Thailand (IEAT). In recent developments, TTW announced a strategic partnership in 2024 with a leading engineering firm to expand wastewater treatment capacity by 50 million cubic meters annually at its flagship facilities. The company completed a THB 2.5 billion funding round in early 2025 through green bonds to finance solar-powered water treatment upgrades and new pipeline extensions into emerging industrial zones. Additionally, TTW launched a digital water monitoring platform in mid-2025, enhancing real-time data analytics for clients and supporting Thailand's smart city initiatives. These initiatives reflect TTW's shift toward sustainable water solutions amid growing demand from Thailand's industrial expansion. No major acquisitions or name changes have been reported in the last two years.