Yuasa Battery (Thailand) PCL

Yuasa Battery (Thailand) PCL maintains a strong liquidity position, with a current ratio of 3.03 and cash and equivalents amounting to 384.6 million THB, which is significantly higher than the industry median. The company's low debt-to-equity ratio of 0.01 indicates a conservative capital structure, with minimal long-term debt exposure.

Profitability metrics show a return on equity of 3.82% and a return on assets of 2.66%, which are below the industry median for electrical components and equipment firms. The company's operating margin is 7.8%, with net income of 43.8 million THB on revenue of 707.2 million THB, suggesting moderate profitability relative to peers.

The company's revenue is concentrated in a single business segment, with no disclosed geographic diversification. This lack of diversification increases exposure to regional economic fluctuations and supply chain disruptions.

Looking ahead, the company is projected to maintain stable revenue growth, with a year-over-year increase of 2.5% in the current fiscal year and a 3.0% increase in the next fiscal year. This growth is supported by increasing demand for energy storage solutions and automotive battery systems.

Risk factors include low liquidity and dilution risk, with no immediate filing-based flags detected. The company has not issued new shares in the past 12 months, and there is no indication of near-term dilution pressure.

Recent events include the filing of the latest annual report, which disclosed a net loss of 0.29 THB per share for the most recent quarter. Analysts have noted a decline in earnings, with revenue of 1.83 billion THB reported for the same period.

Net income surged 40.8% year-over-year to THB 242.8 million in FY2009, demonstrating strong profitability growth.

Free cash flow more than doubled, rising 110% to THB 180.5 million, indicating robust cash generation capabilities.

The company maintains a negligible debt-to-equity ratio of 0.01, far below the 0.24 cohort median.

Cash conversion of 3.64 is rated best-in-class, outperforming the 0.89 median within its peer group.

Revenue declined slightly by 0.7% year-over-year in FY2009, suggesting potential stagnation in top-line growth.

Return on equity of 3.82% remains modest, offering limited capital efficiency compared to higher-growth alternatives.

Revenue THB 729.8M, +2,7% YoY; Operating income +41,9% YoY.

• ▍Revenue THB 729.8M, +2,7% YoY
• ▍Operating income +41,9% YoY
• ▍Net income +54,1% YoY
• ▍Free cash flow +163,6% YoY
• ▍Net margin 10.6%

Revenue THB 699.5M, −2,9% YoY; Operating income +88,1% YoY.

• ▍Revenue THB 699.5M, −2,9% YoY
• ▍Operating income +88,1% YoY
• ▍Net income +89,8% YoY
• ▍Free cash flow +153,7% YoY
• ▍Net margin 7.5%

Revenue THB 699.5M, −6,3% YoY; Operating income −5,5% YoY.

• ▍Revenue THB 699.5M, −6,3% YoY
• ▍Operating income −5,5% YoY
• ▍Net income −5,3% YoY
• ▍Free cash flow −1,6% YoY
• ▍Net margin 6.9%

Revenue THB 734.9M, +3,9% YoY; Operating income +48,0% YoY.

• ▍Revenue THB 734.9M, +3,9% YoY
• ▍Operating income +48,0% YoY
• ▍Net income +47,9% YoY
• ▍Free cash flow +81,6% YoY
• ▍Net margin 8.8%

Revenue THB 746.5M; Operating income THB 63.7M.

• ▍Revenue THB 746.5M
• ▍Operating income THB 63.7M
• ▍Net margin 6.8%

Revenue THB 720.3M; Operating income THB 35.1M.

• ▍Revenue THB 720.3M
• ▍Operating income THB 35.1M
• ▍Net margin 3.9%

Revenue THB 710.3M; Operating income THB 47.5M.

• ▍Revenue THB 710.3M
• ▍Operating income THB 47.5M
• ▍Net margin 7.1%

Revenue THB 707.2M; Operating income THB 55.2M.

• ▍Revenue THB 707.2M
• ▍Operating income THB 55.2M
• ▍Net margin 6.2%

Revenue THB 2.86B, −0,7% YoY; Operating income +36,6% YoY.

• ▍Revenue THB 2.86B, −0,7% YoY
• ▍Operating income +36,6% YoY
• ▍Net income +40,8% YoY
• ▍Free cash flow +110,0% YoY
• ▍Net margin 8.5%

Revenue THB 2.88B, +8,7% YoY; Operating income +29,9% YoY.

• ▍Revenue THB 2.88B, +8,7% YoY
• ▍Operating income +29,9% YoY
• ▍Net income +40,1% YoY
• ▍Free cash flow +161,3% YoY
• ▍Net margin 6.0%

Revenue THB 2.65B, +2,9% YoY; Operating income +10,4% YoY.

• ▍Revenue THB 2.65B, +2,9% YoY
• ▍Operating income +10,4% YoY
• ▍Net income +12,4% YoY
• ▍Free cash flow −48,8% YoY
• ▍Net margin 4.6%

Revenue THB 2.58B, +14,5% YoY; Operating income +14,8% YoY.

• ▍Revenue THB 2.58B, +14,5% YoY
• ▍Operating income +14,8% YoY
• ▍Net income +12,0% YoY
• ▍Free cash flow +19,8% YoY
• ▍Net margin 4.2%