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
TTW Public Company Limited
TTWPF
(Other OTC)

Recent

price

0.23

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
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
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
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
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
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
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
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
5,238
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
63.6
Operating Margin (%)
875
853
877
891
890
889
897
980
1,062
1,121
1,166
1,229
1,333
1,186
643
661
661
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
3,266
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
16.82
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
62.35
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
2,177
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
5,329
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
16,697
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
13
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
19.79
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
27.02
Return on Common Equity (%)

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
- -
- -
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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.