Adbm.Bk

ADBM.BK maintains a conservative capital structure with a debt-to-equity ratio of 0.19 and a current ratio of 1.56, indicating adequate short-term liquidity coverage. The balance sheet shows total assets of 919.8 million THB against total liabilities of 272.0 million THB, resulting in total equity of 647.8 million THB. Long-term debt stands at 119.9 million THB, while cash and equivalents are 46.5 million THB, leading to a net cash position that is negative after subtracting total debt, a key flag in the risk assessment. Operating cash flow is robust at 107.3 million THB, significantly exceeding free cash flow of 12.5 million THB due to capital expenditures of 26.8 million THB.

Profitability metrics indicate modest returns, with a return on equity (ROE) of 4.28% and a return on assets (ROA) of 3.01%. The company reported net income of 27.7 million THB on revenue of 832.8 million THB, yielding a net margin of approximately 3.3%. Gross profit was 117.3 million THB, resulting in a gross margin of roughly 14.1%, while operating income was 15.5 million THB. Without cohort median data for direct comparison, these returns appear stable but not exceptional, reflecting the typical margins of the chemicals industry.

Segment and geographic revenue breakdowns are not provided in the available data, preventing a detailed analysis of revenue concentration or regional exposure. The company's revenue mix is therefore opaque, and no specific segment or geographic risk can be quantified from the current input.

Growth trajectory analysis is limited by the absence of historical period data in the input. The latest financial snapshot shows revenue of 832.8 million THB, but without prior year or quarterly trends, year-over-year growth rates cannot be calculated. Analyst estimates indicate a last actual revenue of 1,372.4 million THB, which may reflect a different reporting period or fiscal year definition, highlighting a discrepancy that requires further clarification.

Risk assessment identifies medium liquidity risk and low dilution risk. The primary financial flag is the negative net cash position, which suggests that while the company is not heavily leveraged relative to equity, its liquid assets do not fully cover its debt obligations. Dilution risk is low, with basic and diluted shares outstanding being identical at 726.0 million shares, indicating no significant options or convertible securities currently impacting share count.

Recent observations include an ESG score of 44.45 (Grade C+), with the Governance pillar scoring notably low at 19.61 compared to the Environment (54.55) and Social (48.58) pillars. The company has a perfect ESG controversies score of 100, indicating no major recent controversies. Analyst estimates show a last actual EPS of 0.05 THB. No specific filing, news, or transcript events were provided in the input data.

Net income surged 1,191% year-over-year to THB 75.7 million, demonstrating a dramatic recovery in profitability.

Free cash flow improved by 281% to THB 55.6 million, indicating significantly stronger operational cash generation.

The company maintains a low debt-to-equity ratio of 0.19, suggesting a conservative capital structure relative to peers.

Cash conversion of 3.88 ranks as best-in-class, outperforming the cohort median of 1.29 significantly.

Dilution risk is assessed as low, providing some stability for existing shareholders regarding equity value erosion.

Credit risk is flagged as high, indicating significant potential for future losses or financial instability.

Liquidity risk is rated as medium, suggesting potential challenges in meeting short-term financial obligations.

Revenue THB 832.8M, −10,1% YoY; Operating income +935,9% YoY.

• ▍Revenue THB 832.8M, −10,1% YoY
• ▍Operating income +935,9% YoY
• ▍Net income −19,1% YoY
• ▍Free cash flow +178,6% YoY
• ▍Net margin 3.3%