Khonburi Sugar PCL

Khonburi Sugar PCL maintains a debt-to-equity ratio of 2.05, indicating a capital structure that is significantly leveraged. The company's liquidity position is moderate, with a current ratio of 1.11, suggesting it can cover short-term obligations but with limited buffer. Despite a negative operating cash flow of -3.4 billion THB, the company generated 914.97 million THB in free cash flow, which may support ongoing operations and dividends.

Profitability metrics show a return on equity of 18.72% and a return on assets of 5.63%, both of which are strong relative to the industry's typical performance. The company's operating income of 1.17 billion THB and net income of 914.76 million THB reflect a healthy margin structure, although gross profit of 1.31 billion THB suggests some pressure on cost management.

The company's revenue is concentrated in a single business segment, with no disclosed geographic diversification, which increases exposure to regional economic and regulatory risks. No material revenue is attributed to international markets, and the company's operations are primarily localized.

Looking ahead, the company is expected to maintain a stable revenue trajectory, with no significant growth or contraction projected in the next fiscal year. The company's capital expenditure of -191.44 million THB indicates a reduction in investment, which may signal a focus on cost control or asset optimization.

The company's risk profile is moderate, with a liquidity risk arising from a negative net cash position after subtracting total debt. The dilution risk is low, with no near-term pressure from share issuance or dilutive events. The company's financial leverage and cash flow volatility are key concerns for investors.

Recent financial filings and disclosures show no material changes in the company's operations or strategic direction. The company's latest revenue of 3.53 billion THB aligns with analyst estimates, indicating stable performance.

Revenue grew at a 17.5% compound annual rate over the four-year period ending in FY-1.

Operating income increased 10.7% year-over-year, demonstrating continued expansion in core operational earnings power.

Debt-to-equity ratio of 2.05 places the company in the bottom quartile of the Food Processing cohort.

Cash conversion metric of -3.72 ranks in the bottom quartile compared to the 0.98 cohort median.

The company faces a high credit risk level, signaling potential difficulties in meeting financial obligations.

Revenue declined 5.4% year-over-year, indicating a contraction in top-line sales growth recently.

Medium liquidity risk suggests potential challenges in meeting short-term financial obligations efficiently.

Revenue THB 2.12B, +3,3% YoY; Operating income −127,5% YoY.

• ▍Revenue THB 2.12B, +3,3% YoY
• ▍Operating income −127,5% YoY
• ▍Net income −82,5% YoY
• ▍Free cash flow −60,3% YoY
• ▍Net margin -13.8%

Revenue THB 2.36B, −14,1% YoY; Operating income +2,2% YoY.

• ▍Revenue THB 2.36B, −14,1% YoY
• ▍Operating income +2,2% YoY
• ▍Net income +16,8% YoY
• ▍Free cash flow −33,8% YoY
• ▍Net margin -1.9%

Revenue THB 2.63B, −25,2% YoY; Operating income −10,1% YoY.

• ▍Revenue THB 2.63B, −25,2% YoY
• ▍Operating income −10,1% YoY
• ▍Net income −7,6% YoY
• ▍Free cash flow −12,3% YoY
• ▍Net margin 11.9%

Revenue THB 10.92B, −8,0% YoY; Operating income −36,7% YoY.

• ▍Revenue THB 10.92B, −8,0% YoY
• ▍Operating income −36,7% YoY
• ▍Net income −41,3% YoY
• ▍Free cash flow −45,1% YoY
• ▍Net margin 5.6%

Revenue THB 10.94B, +75,6% YoY; Operating income +2 546,8% YoY.

• ▍Revenue THB 10.94B, +75,6% YoY
• ▍Operating income +2 546,8% YoY
• ▍Net income +375,9% YoY
• ▍Free cash flow +200,9% YoY
• ▍Net margin 8.4%

Revenue THB 6.23B; Operating income -THB 51.6M.

• ▍Revenue THB 6.23B
• ▍Operating income -THB 51.6M
• ▍Net margin -5.3%