1. Thailand Stocks

  2. •

    Utilities

  3. •

    Regulated Water
TTW Public Company Limited

TTW Public Company Limited

TTW.BK
TTW Public Company LimitedTH flagStock Exchange of Thailand
9.85
THB
- -
- -
39.30BMarket Cap
TTW Public Company Limited
TTW.BK
(Stock Exchange of Thailand)

Recent

price

9.85

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
1.1
1.14
1.23
1.3
1.35
1.36
1.35
1.41
1.48
1.53
1.55
1.46
1.43
1.46
1.28
1.31
1.32
Revenue per Share
0.52
0.53
0.59
0.65
0.74
0.67
0.62
0.67
0.71
0.78
0.74
0.78
0.74
0.73
0.7
0.82
0.82
Basic EPS, GAAP
0.53
0.66
0.84
0.75
0.88
0.67
0.38
0.75
0.95
0.96
0.93
0.85
0.88
0.89
0.65
0.72
0.77
Free Cash Flow per Basic Share
0.32
0.35
0.47
0.55
0.65
0.65
0.6
0.6
0.6
0.6
0.6
0.6
0.6
0.6
0.6
0.6
0.6
Dividend per Share
1.86
1.81
1.87
1.91
1.95
1.9
1.86
1.93
2.03
2.22
2.36
2.54
2.68
2.82
2.92
3.14
3.31
Book Value per Share
1.75
1.64
1.81
1.96
2.12
2.19
2.27
2.43
2.59
2.85
3.06
3.24
3.44
3.62
3.73
3.99
4.15
Tangible Book Value per Share
3,990
3,990
3,990
3,990
3,990
3,990
3,990
3,975
4,003
3,990
3,990
3,990
3,990
3,990
3,990
3,990
3,990
Basic Weighted Avg Shares
4,395
4,546
4,925
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
Sales/Revenue/Turnover
60.82
61.06
59.75
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
Operating Margin (%)
875
853
877
891
890
889
897
980
1,062
1,121
1,166
1,229
1,333
1,186
643
661
696
Depreciation Expense
2,063
2,113
2,338
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
Net Income, GAAP
8.06
9.03
12.72
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
Effective Tax Rate (%)
46.94
46.48
47.46
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
Profit Margin (%)
3,385
1,077
5,324
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
Working Capital
10,918
7,166
12,930
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
LT Debt
9,484
10,193
10,660
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
Total Equity
16.29
11.92
11.25
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 Invested Capital (%)
22.45
13.83
14.51
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 Capital (%)
41.03
28.89
31.86
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
Return on Common Equity (%)

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
36,309
36,110
36,508

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
0.13
0.16
0.23
- -
0.7
2025
0.17
0.2
0.24
- -
0.82
2026
0.17
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.3
0.3
- -
0.6
2025
- -
0.3
0.3
- -
0.6
2026
- -
- -
- -
- -
- -
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Business
TTW Public Company Limited (TTW.BK), a Thailand-based utility company founded in 2000 and headquartered in Sam Phran, Nakhon Pathom Province, engages primarily in the production and distribution of treated tap water sourced from the Tha Chin River to the Provincial Waterworks Authority serving the Amphur Nakhon Chaisri, Amphur Sam Phran, and Amphur Budha Monthon areas of Nakhon Pathom Province as well as Amphur Muang and Amphur Kratumban areas of Samut Sakhon Province; the company also provides water treatment and maintenance services, wastewater treatment system management, and operation and maintenance of water supply projects, with a focus on industrial estates including Bang Pa-In and Amata Nakorn to support household, commercial, and industrial customers through an integrated closed-loop water management model emphasizing quality, safety, and sustainability in line with international standards. TTW operates predominantly in the regulated water utilities sector within Thailand's utilities industry, alongside investments in energy through subsidiaries such as Fumani Water Company Limited and Thai Water Operations Company Limited, and an associated company, CK Power Public Company Limited, involved in electricity production from various energy sources. In recent developments, the company completed the acquisition of a 10% stake in LPCL, a hydroelectric power generation company in Laos, during 2025 to diversify its energy portfolio and enhance operational sustainability; it has also invested in infrastructure upgrades such as boosting stations and water meters to improve distribution efficiency for industrial clients, while advancing ESG-driven initiatives including digital supply chain tools for sustainable governance. Formerly known as Thai Tap Water Supply Public Company Limited until its name change in March 2014, TTW maintains stable cash flows from its core regulated operations and positions itself for growth in Southeast Asia's expanding utilities demand through strategic expansions in water and energy sectors.