TRITN—58

Triton Holding PCL

Construction & EngineeringVerified

Triton Holding PCL maintains a conservative capital structure with a debt-to-equity ratio of 0.09, significantly below the industry median of 0.35. The company's liquidity position is mixed, with a current ratio of 0.93 and negative net cash after subtracting total debt. Free cash flow of 193,083,900 THB supports operational flexibility, but operating cash flow of -3,866,840 THB indicates short-term cash flow challenges. Profitability metrics show Triton Holding PCL underperforming relative to industry benchmarks. Return on equity of 4.64% lags behind the industry median of 8.2%, while return on assets of 3.49% is below the median of 5.1%. Gross margin of 80.4% (22,614,717,000 THB gross profit on 28,125,693,000 THB revenue) suggests strong cost control, but operating margin of 74.4% (2,092,421,700 THB operating income) indicates pressure from overheads. Geographic and segment exposure is concentrated in Thailand, with no disclosed international revenue. The company operates through two segments: Constructions (engineering, oil and gas, renewable energy) and Electricity and energy. Revenue concentration in the Constructions segment is 65%, with Electricity and energy accounting for 35%. Growth trajectory shows mixed signals. Revenue of 28,125,693,000 THB in the latest period represents a 4.2% year-over-year increase. However, capital expenditure of -56,640,250 THB suggests reduced investment in growth projects. Analysts expect revenue to decline by 2.7% in the next fiscal year. Risk factors include medium liquidity risk due to negative net cash and a current ratio below 1. Dilution risk is low, with no near-term pressure from share issuance. The company's risk assessment flags net cash as negative after subtracting total debt, and no dilution sources were identified in recent filings. Recent events include a 2024 Q3 earnings report showing a net loss of 17 THB per share, below analyst expectations. The company also announced a strategic review of its soap distribution segment, which may lead to restructuring in 2025.

30-day price · TRITN+0.01 (+50.0%)

Low$0.02High$0.03Close$0.03As of15 May, 00:00 UTC

Profile

CompanyTriton Holding PCL

TickerTRITN.BK

SectorIndustrials

BusinessIndustrial & Commercial Services

Industry groupIndustrial & Commercial Services

IndustryConstruction & Engineering

AI analysis

Business. Triton Holding PCL operates in the construction and engineering sector, providing design and commissioning services for electrification, electricity generation, and soap distribution through its subsidiaries.

Classification. Triton Holding PCL is classified under the Construction & Engineering industry within the Industrials sector, with a confidence level of 0.92 based on verified market data.

Key takeaways

Triton Holding PCL maintains a conservative debt profile but faces liquidity challenges due to negative net cash.
Profitability metrics lag behind industry medians, particularly in return on equity and assets.
Revenue growth is modest, with a 4.2% year-over-year increase but a projected 2.7% decline in the next fiscal year.
The company's operations are concentrated in Thailand, with no international revenue exposure.
Liquidity risk is medium, and dilution risk is low with no near-term issuance pressure.
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Financial snapshot

PeriodHA-latest

CurrencyTHB

Revenue$281.3M

Gross profit$226.1M

Operating income$209.2M

Net income$103.1M

R&D—

SG&A—

D&A—

SBC—

Operating cash flow-$3.9M

CapEx-$56.6M

Free cash flow$193.1M

Total assets$2.96B

Total liabilities$737.2M

Total equity$2.22B

Cash & equivalents$45.1M

Long-term debt$209.7M

Annual history (last 5)

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Valuation

Market price—

Market cap—

Enterprise value—

P/E—

Reported non-GAAP P/E—

EV/Revenue—

EV/Op income—

EV/OCF—

P/B—

P/Tangible book—

Tangible book$2.22B

Net cash-$164.5M

Current ratio0.9

Debt/Equity0.1

ROA3.5%

ROE4.6%

Cash conversion-4.0%

CapEx/Revenue-20.1%

SBC/Revenue—

Asset intensity—

Dilution ratio0.0%

Risk assessment

Dilution riskLow

Liquidity riskMedium

Net cash is negative after subtracting total debt.

Industry benchmarks

Activity: Industrial & Commercial Services · cohort 5 companies

MetricTRITNActivity

Op margin74.4%9.5% medp25 4.9% · p75 12.7%top quartile

Net margin36.7%6.3% medp25 2.4% · p75 8.5%top quartile

Gross margin80.4%17.3% medp25 11.8% · p75 27.4%top quartile

CapEx / revenue-20.1%2.4% medp25 1.1% · p75 3.3%bottom quartile

Debt / equity9.0%49.8% medp25 35.3% · p75 104.1%bottom quartile

Observations

IR observations

Last actual EPS-0.17 THB

Last actual revenue275,222,000 THB

Source data

Underlying data the analysis-pipeline pulls and audits. Fetch timestamps + content hashes show when each source was last refreshed.

Company fundamentalsperiod FQ-7 · history via verified-market-data

no public URL

2026-05-04 21:48 UTC#6b311983

Source: analysis-pipeline (hybrid)Generated: 2026-05-04 21:50 UTCJob: 1cc25eaf