AKS Corporation PCL
AKS Corporation PCL operates in the Real Estate Management & Development sector, generating revenue through property-related activities.
Business. AKS Corporation PCL (AKS.BK) is a real estate management and development company headquartered in Thailand. The firm is primarily listed on the Stock Exchange of Thailand (SET). Specific details regarding its operating segments and geographic revenue mix are not available.
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- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
AKS Corporation PCL (AKS.BK) is a real estate management and development company headquartered in Thailand. The firm is primarily listed on the Stock Exchange of Thailand (SET). Specific details regarding its operating segments and geographic revenue mix are not available.
(a) Capital structure and liquidity are severely constrained. The company reports a current ratio of 0.33, indicating significant short-term liquidity pressure. Total liabilities stand at THB 4.30 billion against total equity of only THB 107.8 million, resulting in a debt-to-equity ratio of 7.93. Cash and equivalents are minimal at THB 14.7 million, while long-term debt is THB 854.8 million. The negative net cash position highlights a reliance on external financing or asset liquidation to meet obligations.
(b) Profitability is deeply negative across all metrics. The company recorded a net loss of THB 2.66 billion on revenue of THB 470.8 million. Return on equity is -9.06, and return on assets is -0.22. The gross profit is negative at THB -3.9 million, suggesting that the cost of goods sold exceeds revenue, a critical operational failure. Operating income is THB -2.60 billion, reflecting severe operational inefficiencies or one-time impairments. These figures indicate a business model that is currently unsustainable without structural changes or external capital injection.
- Severe liquidity crisis with a current ratio of 0.33 and minimal cash reserves.
- Deeply unprofitable with a net loss of THB 2.66 billion and negative gross profit.
- High leverage with a debt-to-equity ratio of 7.93 and total liabilities exceeding total assets.
- Negative free cash flow of THB -2.58 billion indicates inability to self-fund operations.
- Low dilution risk but high solvency risk due to negative net cash position.
Bull / Bear case
Generated · model-assistedRevenue grew 70.4% year-over-year to THB 1.04 billion, indicating significant top-line expansion despite profitability challenges.
The company maintains a four-year revenue CAGR of 18.5%, suggesting sustained long-term growth momentum in its core operations.
Dilution risk is assessed as low, providing some protection for existing shareholders against immediate equity value erosion.
Return on equity is -9.06%, placing the company in the bottom quartile of its real estate development cohort.
The debt-to-equity ratio of 7.93 is in the bottom quartile, reflecting extreme leverage and high credit risk.
In focus — financials by report
Revenue THB 525.7M; Operating income -THB 380.4M.
- ▍Revenue THB 525.7M
- ▍Operating income -THB 380.4M
- ▍Net margin -74.5%
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consensus EPS · 26-week trendSell-side observations
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- Net cash is negative after subtracting total debt.
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- Enterprise Valuemarket_cap - net_cash
- Return On Equitynet_income / total_equity
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- Capex To Revenuecapital_expenditure / revenue
- AKS Corporation PCL Market data — financials · 2026-07-15
Ownership & reference
Leadership
- Sa-nga Tunti-amornpongChief Executive Officer, Executive Director