Chayo Group PCL

Chayo Group PCL maintains a liquidity position with a current ratio of 2.0, indicating the company can cover its short-term liabilities twice over with its short-term assets. However, the company's liquidity risk is assessed as medium, and its net cash position is negative after subtracting total debt, suggesting potential pressure on short-term liquidity.

Profitability metrics for Chayo Group PCL are weak, with a return on equity (ROE) of 0.001 and a return on assets (ROA) of 0.0003. These figures are significantly below the typical performance benchmarks for the investment management industry, indicating suboptimal capital utilization and asset efficiency.

The company's capital structure is heavily leveraged, with a debt-to-equity ratio of 1.54. This suggests that for every THB 1 of equity, the company has THB 1.54 in debt, which is a high leverage ratio and could increase financial risk, especially in a volatile market environment. The company's long-term debt of THB 5,157,544,950.0 is significantly higher than its cash and equivalents of THB 1,100,153,570.0, further highlighting the leverage risk.

Geographic and segment exposure data is not available in the provided dataset, but the company's revenue concentration and segment performance are not disclosed. This lack of transparency may obscure the true drivers of revenue and could limit the ability to assess the company's exposure to regional or sector-specific risks.

Looking ahead, the company's growth trajectory is uncertain. The net income of THB 3,192,610.0 is a small fraction of its operating income of THB 399,748,790.0, indicating high operating expenses or non-operating losses. Analysts have assigned a mean recommendation of 3.67, which is a "Hold" rating, with no strong buy or buy recommendations, suggesting limited upside potential in the near term.

Recent events and filings do not show any significant developments in the company's operations or financial strategy. The absence of recent capital raising or major business announcements suggests a stable but stagnant operational environment. However, the lack of growth initiatives or strategic investments could hinder long-term value creation.

Revenue grew 31.7% annually over four years, demonstrating strong top-line expansion for the investment management firm.

Operating income increased 13.0% year-over-year to THB 1.83 billion, showing resilience in core profitability despite net loss.

Gross profit reached THB 1.92 billion in FY2026, reflecting robust revenue generation capabilities within the investment sector.

Cash conversion ratio of 0.49 is above the cohort median of 0.31, suggesting relatively efficient cash generation from operations.

Debt-to-equity ratio of 1.54 is in the bottom quartile of peers, indicating excessive leverage and high credit risk.

Return on equity of 0.1% is well below the 4.15% cohort median, highlighting poor capital efficiency for shareholders.

Analysts assign a sell recommendation with a mean price target of THB 1.10, implying 7.3% downside from current levels.

Revenue THB 502.6M, −4,8% YoY; Operating income +1,4% YoY.

• ▍Revenue THB 502.6M, −4,8% YoY
• ▍Operating income +1,4% YoY
• ▍Net income −1 328,6% YoY
• ▍Free cash flow −1 057,9% YoY
• ▍Net margin -148.5%

Revenue THB 585.6M, +11,3% YoY; Operating income +19,1% YoY.

• ▍Revenue THB 585.6M, +11,3% YoY
• ▍Operating income +19,1% YoY
• ▍Net income −71,8% YoY
• ▍Free cash flow −54,6% YoY
• ▍Net margin 4.8%

Revenue THB 529.2M, +10,4% YoY; Operating income +22,0% YoY.

• ▍Revenue THB 529.2M, +10,4% YoY
• ▍Operating income +22,0% YoY
• ▍Net income +23,2% YoY
• ▍Free cash flow +54,6% YoY
• ▍Net margin 17.9%

Revenue THB 548.6M, +11,2% YoY; Operating income +10,6% YoY.

• ▍Revenue THB 548.6M, +11,2% YoY
• ▍Operating income +10,6% YoY
• ▍Net income +2 410,8% YoY
• ▍Free cash flow +280,8% YoY
• ▍Net margin 14.6%

Revenue THB 2.17B, +6,9% YoY; Operating income +12,9% YoY.

• ▍Revenue THB 2.17B, +6,9% YoY
• ▍Operating income +12,9% YoY
• ▍Net income −325,2% YoY
• ▍Free cash flow −230,2% YoY
• ▍Net margin -25.1%

Revenue THB 2.03B, +32,7% YoY; Operating income +31,9% YoY.

• ▍Revenue THB 2.03B, +32,7% YoY
• ▍Operating income +31,9% YoY
• ▍Net income −38,4% YoY
• ▍Free cash flow −23,1% YoY
• ▍Net margin 11.9%

Revenue THB 1.53B, +52,8% YoY; Operating income +69,0% YoY.

• ▍Revenue THB 1.53B, +52,8% YoY
• ▍Operating income +69,0% YoY
• ▍Net income +55,7% YoY
• ▍Free cash flow +60,9% YoY
• ▍Net margin 25.6%

Revenue THB 999.2M, +38,7% YoY; Operating income +30,4% YoY.

• ▍Revenue THB 999.2M, +38,7% YoY
• ▍Operating income +30,4% YoY
• ▍Net income +14,7% YoY
• ▍Free cash flow +22,2% YoY
• ▍Net margin 25.1%

Revenue THB 720.4M; Operating income THB 558.4M.

• ▍Revenue THB 720.4M
• ▍Operating income THB 558.4M
• ▍Net margin 30.4%