Country Group Development PCL

The company's capital structure is characterized by a debt-to-equity ratio of 0.61, indicating a moderate reliance on debt financing. Liquidity is assessed as medium, with a current ratio of 0.75, suggesting the company may face challenges in meeting short-term obligations. Free cash flow is negative at -3.83 million THB, and operating cash flow is 396.13 million THB, highlighting a mismatch between operating performance and cash generation.

Profitability metrics show a return on equity of -0.07% and a return on assets of -0.02%, both below the industry median for real estate development and operations. The net income is negative at -2.89 million THB, indicating a loss for the period. Gross profit of 262.51 million THB and operating income of 212.22 million THB suggest the company is generating some operating margin, but not enough to offset other costs and liabilities.

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 regulatory changes. The company's capital expenditures of -53.63 million THB indicate a reduction in investment in new projects or infrastructure.

Growth trajectory is uncertain, with no disclosed revenue growth in the current fiscal year. The company's recent performance, including a net loss, suggests a potential slowdown in operations or increased costs. The absence of a clear growth strategy or expansion plans in the latest filings raises concerns about long-term sustainability.

Risk factors include a medium liquidity risk, as the company's current ratio is below 1, and a negative net cash position after subtracting total debt. Dilution risk is assessed as low, with no significant changes in shares outstanding between basic and diluted shares. The company's debt load, particularly long-term debt of 2.61 billion THB, may constrain future investment and increase financial risk.

Recent events include a reported revenue of 369.64 million THB in the latest actuals, which is significantly lower than the company's total revenue of 752.37 million THB. This discrepancy may indicate a reporting lag or a shift in revenue recognition practices. No recent filings or transcripts have been disclosed that provide further insight into the company's strategic direction or operational performance.

Debt-to-equity ratio of 0.61 is below the 0.52 cohort median, suggesting a relatively conservative leverage position.

Revenue CAGR of 19.9% over four years indicates historical top-line growth momentum prior to recent declines.

Dilution risk is assessed as low, providing some protection against equity value erosion from share issuance.

Credit risk is flagged as high, posing significant potential for future loan losses or financial distress.

Revenue THB 66.5M, −43,0% YoY; Operating income −15,7% YoY.

• ▍Revenue THB 66.5M, −43,0% YoY
• ▍Operating income −15,7% YoY
• ▍Net income −12,7% YoY
• ▍Free cash flow +36,6% YoY
• ▍Net margin -308.2%

Revenue THB 191.4M, −65,4% YoY; Operating income −158,5% YoY.

• ▍Revenue THB 191.4M, −65,4% YoY
• ▍Operating income −158,5% YoY
• ▍Net income −643,6% YoY
• ▍Free cash flow −3,6% YoY
• ▍Net margin -106.9%

Revenue THB 230.0M, −60,5% YoY; Operating income −46,0% YoY.

• ▍Revenue THB 230.0M, −60,5% YoY
• ▍Operating income −46,0% YoY
• ▍Net income −42,7% YoY
• ▍Free cash flow +42,9% YoY
• ▍Net margin -24.4%

Revenue THB 215.7M, −71,3% YoY; Operating income −89,3% YoY.

• ▍Revenue THB 215.7M, −71,3% YoY
• ▍Operating income −89,3% YoY
• ▍Net income −3 433,9% YoY
• ▍Free cash flow −9 438,0% YoY
• ▍Net margin -47.3%

Revenue THB 968.5M, −51,7% YoY; Operating income −122,2% YoY.

• ▍Revenue THB 968.5M, −51,7% YoY
• ▍Operating income −122,2% YoY
• ▍Net income −125,6% YoY
• ▍Free cash flow −1,3% YoY
• ▍Net margin -58.6%