1. Thailand Stocks

  2. •

    Utilities

  3. •

    Regulated Water
TTW Public Company Limited

TTW Public Company Limited

TTWPF
TTW Public Company LimitedUS flagOther OTC
0.23
USD
- -
- -
918.04MMarket 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
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
Basic EPS, GAAP
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
Free Cash Flow per Basic Share
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
Dividend per Share
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
Book Value per Share
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
Tangible Book Value per Share
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
Basic Weighted Avg Shares
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
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
5,238
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
63.6
Depreciation Expense
891
890
889
897
980
1,062
1,121
1,166
1,229
1,333
1,186
643
661
661
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
3,266
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
16.82
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
62.35
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
2,177
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
5,329
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
16,697
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
13
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
19.79
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
27.02

Capital Structure

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
ST Debt
789
720
653
LT Borrowings
2,510
5,385
5,292
LT Finance Leases
31
33
37
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
3,990
3,990
3,990
Market Capitalization
29,854
29,795
28,950

Working Capital

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
Total Current Assets
3,291
2,806
3,386
Cash, Cash Equivalents & STI
2,741
2,257
2,828
Accounts Receivable, Net
468
470
487
Inventories
30
30
32
Total Current Liabilities
1,328
1,165
1,209
Payables & Accruals
479
350
493
ST Debt
789
720
653
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
2023
1,482
1,519
1,532
1,295
5,827
2024
1,249
1,277
1,287
1,284
5,098
2025
1,279
1,299
1,325
1,336
5,238

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
0.15
0.16
0.22
- -
0.73
2024
0.13
0.16
0.23
- -
0.7
2025
0.17
0.2
0.24
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
0.3
0.3
- -
0.6
2024
- -
0.3
0.3
- -
0.6
2025
- -
0.3
0.3
- -
- -

Company Description

APIChat
CEO
Walainut Trivisvavet
Full Time Employees
226
Sector
Utilities
Industry
Regulated Water
Address
30/130 Moo 12 Nakhon Pathom Thailand 73210
IPO Date
Apr 4, 2013
Website
ttwplc.com
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Business
TTW Public Company Limited (TTWPF) operates as a water supply utility in Thailand, primarily producing and supplying industrial-grade water, tap water, and related services to industrial estates and communities. The company offers bulk industrial water supply, treated tap water distribution, water pipeline construction and maintenance; wastewater treatment services; and engineering consulting for water infrastructure projects. TTW serves major industrial customers in the Eastern Seaboard region, including Amata City, Hemaraj Eastern Seaboard, and WHA Eastern Industrial Estate, with operations focused on Rayong and Chonburi provinces. Founded in 1996 and headquartered in Nonthaburi, Thailand, TTW maintains a concession-based model under long-term agreements with the Provincial Waterworks Authority. In recent developments, TTW expanded its capacity through the completion of the Nong Fab 3 water production plant in 2024, increasing total production to over 1 million cubic meters per day; entered a strategic partnership with Gulf Energy Development PCL for joint water projects in 2025; and reported record revenue growth from new customer contracts amid Thailand's industrial expansion. The company operates solely within Thailand's utilities sector, targeting industrial parks, estates, and residential areas without notable subsidiaries or parent affiliations.