Thai Textile Industry PCL

Thai Textile Industry PCL's capital structure shows a debt-to-equity ratio of 0.27, indicating a relatively conservative leverage position. The company holds 324.13 million THB in cash and equivalents, but this is offset by 648.85 million THB in long-term debt, resulting in a net cash position of -324.72 million THB. The liquidity position is further supported by a current ratio of 1.88, suggesting the company can cover its short-term obligations.

Profitability metrics are negative, with a return on equity of -0.58% and a return on assets of -0.39%. These figures indicate that the company is not generating returns for shareholders or effectively utilizing its assets. Gross profit is negative at -2.78 million THB, and operating and net income are also in the red at -9.35 million THB and -13.80 million THB, respectively. These results are below the industry median for profitability metrics, signaling underperformance relative to peers.

The company's revenue is concentrated in a few key markets, with disclosed operations in Thailand and exports to international markets. However, the input data does not provide specific segment or geographic revenue breakdowns, so the extent of geographic diversification remains unclear. The lack of detailed segment data limits the ability to assess exposure to specific regions or product lines.

Looking ahead, the company's growth trajectory is uncertain. The most recent actual revenue of 3.54 billion THB is lower than the reported revenue of 4.83 billion THB, suggesting potential volatility or reporting inconsistencies. The operating cash flow of 103.60 million THB and free cash flow of 8.36 million THB indicate some cash generation, but the negative net income and operating losses suggest ongoing operational challenges. The outlook for the next fiscal year remains unclear without further guidance.

Risk factors include medium liquidity risk, as the company's cash reserves are insufficient to cover its long-term debt. The risk assessment also flags a negative net cash position after subtracting total debt. Dilution risk is currently low, with no near-term pressure from share issuance or dilutive events. However, the company's negative earnings and cash flow could lead to future capital-raising activities that may dilute existing shareholders.

Recent events include the latest actual earnings per share (EPS) of 0.49 THB and actual revenue of 3.54 billion THB, as reported by analysts. These figures suggest a mixed performance, with revenue exceeding the reported value but earnings remaining below expectations. The company has not disclosed any recent filings or transcripts that would provide additional insight into its strategic direction or operational performance.

Net income improved 57.9% year-over-year in FY2009, signaling a potential stabilization in profitability trends.

Operating income rose 54.0% year-over-year in FY2009, indicating improved core operational efficiency compared to the prior year.

The company maintains a low leverage band with a debt-to-equity ratio of 0.64, suggesting manageable financial risk.

A current ratio of 2.02 indicates strong short-term liquidity, providing a buffer against immediate financial obligations.

Dilution risk is assessed as low, protecting existing shareholders from significant equity value erosion in the near term.

Revenue declined at a 7.6% compound annual growth rate over four years, reflecting persistent top-line contraction.

The stock trades at a 54.4% discount to the mean analyst price target, indicating significant market pessimism.

Operating and net margins rank in the bottom quartile of the textile cohort, showing poor profitability relative to peers.

The company faces high credit risk, which could impair its ability to secure financing or maintain supplier relationships.

Return on equity remains negative at -0.58%, failing to generate value for shareholders compared to the cohort median.

Revenue THB 401.9M, −10,2% YoY; Operating income +21,3% YoY.

• ▍Revenue THB 401.9M, −10,2% YoY
• ▍Operating income +21,3% YoY
• ▍Net income +8,9% YoY
• ▍Free cash flow −207,9% YoY
• ▍Net margin -5.9%

Revenue THB 422.2M, −1,4% YoY; Operating income −51,9% YoY.

• ▍Revenue THB 422.2M, −1,4% YoY
• ▍Operating income −51,9% YoY
• ▍Net income −12,4% YoY
• ▍Free cash flow −85,3% YoY
• ▍Net margin -5.2%

Revenue THB 434.2M; Operating income -THB 19.6M.

• ▍Revenue THB 434.2M
• ▍Operating income -THB 19.6M
• ▍Net margin -8.4%

Revenue THB 426.4M, −11,8% YoY; Operating income +430,2% YoY.

• ▍Revenue THB 426.4M, −11,8% YoY
• ▍Operating income +430,2% YoY
• ▍Net income +266,0% YoY
• ▍Free cash flow +74,0% YoY
• ▍Net margin 5.4%

Revenue THB 447.5M; Operating income -THB 34.2M.

• ▍Revenue THB 447.5M
• ▍Operating income -THB 34.2M
• ▍Net margin -5.8%

Revenue THB 428.2M; Operating income -THB 15.1M.

• ▍Revenue THB 428.2M
• ▍Operating income -THB 15.1M
• ▍Net margin -4.5%

Revenue THB 483.5M; Operating income -THB 9.4M.

• ▍Revenue THB 483.5M
• ▍Operating income -THB 9.4M
• ▍Net margin -2.9%

Revenue THB 1.61B, −10,2% YoY; Operating income +54,0% YoY.

• ▍Revenue THB 1.61B, −10,2% YoY
• ▍Operating income +54,0% YoY
• ▍Net income +57,9% YoY
• ▍Free cash flow +8,3% YoY
• ▍Net margin -2.5%

Revenue THB 1.79B, −15,8% YoY; Operating income +19,5% YoY.

• ▍Revenue THB 1.79B, −15,8% YoY
• ▍Operating income +19,5% YoY
• ▍Net income +15,6% YoY
• ▍Free cash flow +80,2% YoY
• ▍Net margin -5.3%

Revenue THB 2.13B, −23,9% YoY; Operating income −161,3% YoY.

• ▍Revenue THB 2.13B, −23,9% YoY
• ▍Operating income −161,3% YoY
• ▍Net income −205,5% YoY
• ▍Free cash flow −156,5% YoY
• ▍Net margin -5.3%

Revenue THB 2.80B, +26,7% YoY; Operating income +80,9% YoY.

• ▍Revenue THB 2.80B, +26,7% YoY
• ▍Operating income +80,9% YoY
• ▍Net income +99,6% YoY
• ▍Free cash flow +2,5% YoY
• ▍Net margin 3.8%

Revenue THB 2.21B; Operating income THB 87.7M.

• ▍Revenue THB 2.21B
• ▍Operating income THB 87.7M
• ▍Net margin 2.4%