Areeya Property PCL

Areeya Property PCL has a liquidity risk score of medium, with a debt-to-equity ratio of 3.23, indicating a high reliance on debt financing. The company's cash and equivalents amount to 28.31 million THB, which is significantly lower than its long-term debt of 9.08 billion THB, resulting in a negative net cash position. The current ratio of 2.4 suggests the company has sufficient short-term assets to cover its short-term liabilities, but the high leverage remains a concern.

The company's profitability is weak, with a return on equity of -2.52% and a return on assets of -0.54%, both significantly below the industry median for real estate firms. The operating income is negative at -8.64 million THB, and the net income is -70.88 million THB, indicating a loss-making position. These metrics suggest the company is underperforming relative to its peers in terms of capital efficiency and operational profitability.

Areeya Property PCL's revenue is concentrated in a single business segment, with no disclosed geographic diversification. The company's financial snapshot does not provide segment-specific revenue breakdowns, but the lack of diversification increases exposure to regional economic downturns or regulatory changes. The absence of geographic or product diversification is a structural risk for the company.

The company's growth trajectory is uncertain, with no disclosed revenue growth in the most recent financial period. The operating cash flow is positive at 75.77 million THB, but the free cash flow is negative at -63.61 million THB, indicating that capital expenditures and debt servicing are outpacing cash generation. The capital expenditure of -318,000 THB is minimal, suggesting limited investment in new projects or asset expansion.

The risk assessment highlights a medium liquidity risk and a low dilution risk. The company's negative net cash position is a key flag, but the absence of a significant difference between basic and diluted shares (980 million each) suggests no imminent dilution pressure. The risk assessment does not identify any material dilution sources in the near term, but the high leverage remains a structural concern.

Recent filings and transcripts do not provide additional insights into the company's strategic direction or operational performance. The most recent financial data indicates a loss-making position with weak returns, but no material events or disclosures have been identified that would suggest a near-term turnaround.

Analysts project a 3,358.8% upside to a mean price target of 160.49 THB, signaling strong institutional confidence.

The company maintains a low leverage band with a debt-to-equity ratio of 0.45 and interest coverage of 13.2.

Dilution risk is assessed as low, suggesting limited immediate threat to existing shareholder equity value.

The company faces high credit risk and medium liquidity risk, indicating significant financial stability concerns.

Operating and net margins rank in the bottom quartile of the real estate cohort, showing poor profitability.

Return on equity is negative 2.52%, placing the company in the bottom quartile compared to peers.

Revenue THB 369.6M; Operating income -THB 8.6M.

• ▍Revenue THB 369.6M
• ▍Operating income -THB 8.6M
• ▍Net margin -19.2%

Revenue THB 491.5M; Operating income THB 29.6M.

• ▍Revenue THB 491.5M
• ▍Operating income THB 29.6M
• ▍Net margin -4.6%

Revenue THB 2.64B, −18,6% YoY; Operating income −122,1% YoY.

• ▍Revenue THB 2.64B, −18,6% YoY
• ▍Operating income −122,1% YoY
• ▍Net income −378,8% YoY
• ▍Free cash flow −287,3% YoY
• ▍Net margin -14.2%

Revenue THB 3.24B, +2,3% YoY; Operating income +1 241,4% YoY.

• ▍Revenue THB 3.24B, +2,3% YoY
• ▍Operating income +1 241,4% YoY
• ▍Net income +138,9% YoY
• ▍Free cash flow +134,4% YoY
• ▍Net margin 4.1%

Revenue THB 3.17B; Operating income THB 35.9M.

• ▍Revenue THB 3.17B
• ▍Operating income THB 35.9M
• ▍Net margin -10.9%