Thai Kin Co Ltd

Thai Kin Co Ltd maintains a strong liquidity position, with a current ratio of 2.89 and cash and equivalents of TWD 301.74 million, which represents 20.5% of total assets. The company's debt-to-equity ratio is 0.15, indicating a conservative capital structure with minimal reliance on long-term debt. Free cash flow of TWD 88.86 million supports operational flexibility and potential reinvestment.

Profitability metrics show a return on equity (ROE) of 11.75% and a return on assets (ROA) of 8.89%, both exceeding the typical thresholds for the construction supplies industry. Gross profit of TWD 154.22 million and operating income of TWD 130.74 million reflect strong cost control and pricing power.

The company operates as a single business segment, with all revenue derived from construction supplies and fixtures. Geographic exposure is concentrated in its domestic market, with no disclosed international operations. Revenue concentration in a single segment and region increases vulnerability to local economic shifts.

Revenue for the latest period was TWD 421.67 million, with no disclosed prior-year figures for comparison. The outlook for the current fiscal year is stable, with no significant growth or contraction expected. Capital expenditures were minimal at TWD -3.65 million, suggesting a focus on maintaining rather than expanding capacity.

Risk factors are limited, with low liquidity and dilution risk scores. No immediate filing-based liquidity or dilution flags were detected. The company has not issued new shares recently, and no dilution adjustments were applied in the valuation model.

Recent filings and transcripts do not indicate any material events or strategic shifts. The company appears to be operating within a stable and predictable business environment, with no disclosed regulatory or geopolitical risks that would significantly impact operations.

Operating income surged 77.7% year-over-year, demonstrating significant top-line momentum and operational efficiency improvements.

Net income grew at an 11.2% compound annual growth rate over the four-year period ending FY0.

Debt-to-equity ratio of 0.15 is below the cohort median of 0.29, indicating a conservative capital structure.

Cash conversion ratio of 0.56 falls below the cohort median of 1.01, signaling weaker cash generation.

Long-term debt increased to 527.0 million TWD in FY0, up from 314.9 million TWD in FY-1.

Revenue growth of 47.1% year-over-year may be unsustainable given the volatile historical trend.

Net income declined to 247.4 million TWD in FY0 from 416.9 million TWD in FY-1.

Revenue TWD 345.5M; Operating income TWD 57.3M.

• ▍Revenue TWD 345.5M
• ▍Operating income TWD 57.3M
• ▍Net margin 35.1%

Revenue TWD 495.7M; Operating income TWD 143.5M.

• ▍Revenue TWD 495.7M
• ▍Operating income TWD 143.5M
• ▍Net margin 15.4%

Revenue TWD 355.6M; Operating income TWD 91.4M.

• ▍Revenue TWD 355.6M
• ▍Operating income TWD 91.4M
• ▍Net margin 25.0%

Revenue TWD 421.7M; Operating income TWD 130.7M.

• ▍Revenue TWD 421.7M
• ▍Operating income TWD 130.7M
• ▍Net margin 31.0%

Revenue TWD 1.62B, +36,6% YoY; Operating income +112,8% YoY.

• ▍Revenue TWD 1.62B, +36,6% YoY
• ▍Operating income +112,8% YoY
• ▍Net income +150,3% YoY
• ▍Free cash flow +120,0% YoY
• ▍Net margin 25.8%

Revenue TWD 1.35B, −0,5% YoY; Operating income −31,1% YoY.

• ▍Revenue TWD 1.35B, −0,5% YoY
• ▍Operating income −31,1% YoY
• ▍Net income −30,2% YoY
• ▍Free cash flow +46,5% YoY
• ▍Net margin 12.0%