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SSPFU.BK — SET (Bangkok) Real Estate Rental, Development & Operations

Sala @ Sathorn Property Fund

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Mcap

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P/E

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EV / Rev

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Div yield

4,04 %

Op margin

46,0 %

ROE

0,4 %

Net margin

46,9 %

Debt / equity

0,00

Beta

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52w range

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Volume

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Day range

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TR 1Y

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About

Sala @ Sathorn Property Fund operates as a real estate investment trust (REIT) focused on real estate rental, development, and operations in the office sector.

Business. Sala @ Sathorn Property Fund (SSPFU.BK) is a real estate investment trust engaged in the rental, development, and operations of properties. The company is headquartered in Thailand and is primarily listed on the Stock Exchange of Thailand (SET). Specific details regarding its operating segments and geographic revenue mix are not disclosed in the available data.

Classification92 %

SectorReal Estate

IndustryReal Estate Rental, Development & Operations

Generated · model-assisted

Sell-side consensus

—consensus pending

— buy— hold— sell

Avg 12m price target—

Upcoming events

— missing data

See all catalysts →

At a glance

Score

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not yet scored

Valuation

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valuation pending

Analysts

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not yet wired

Ownership

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not yet wired

Profitability→

0,4 %

return on equity

Quality

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not yet scored

What drives this business

The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.

— missing data

News & coverage

No recent newsroom coverage mentioning SSPFU.

Sector rotation

Sector1D1Mvs mkt

Materials+2,3 %+6,6 %+1,7 %

Communication Services+2,2 %−5,5 %+1,6 %

Energy+0,6 %+3,3 %+0,0 %

Health Care+0,6 %−0,8 %+0,0 %

Information Technology+0,6 %+6,7 %+0,0 %

Consumer Discretionary+0,4 %+7,6 %−0,2 %

Financials−0,3 %−2,8 %−0,9 %

Consumer Staples−0,4 %+2,5 %−1,0 %

Real Estate · THIS SECTOR−0,7 %+10,9 %−1,3 %

Industrials−1,9 %−3,1 %−2,5 %

Utilities−1,9 %+28,2 %−2,5 %

Developing storylines

No tracked sagas currently linked to SSPFU.BK. Browse all sagas →

Analysis

AI analysis

Generated · analysis pipeline · tier hybrid · as of 2026-08-04 ↑ At a glance

Opportunity

— missing data

Upcoming catalysts

Scheduled public events. Informational only — not investment advice.

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

— missing data

Signals & dispatch

peak dispatch · —

Composite-score breakdown

Synthesis

Business

Sala @ Sathorn Property Fund (SSPFU.BK) is a real estate investment trust engaged in the rental, development, and operations of properties. The company is headquartered in Thailand and is primarily listed on the Stock Exchange of Thailand (SET). Specific details regarding its operating segments and geographic revenue mix are not disclosed in the available data.

Classification92 %

SectorReal Estate

IndustryReal Estate Rental, Development & Operations

AI synthesis

GENERATED

Sala @ Sathorn Property Fund maintains a strong liquidity position with THB 75.1 million in cash and equivalents, representing 4.0% of total assets. The company has no long-term debt and a debt-to-equity ratio of 0.0, indicating a conservative capital structure. With a return on equity (ROE) of 0.42% and return on assets (ROA) of 0.41%, the company's profitability is modest relative to the capital deployed.

The company's operating income of THB 7.63 million and net income of THB 7.77 million reflect a gross margin of 46.2% and an operating margin of 46.0%. These metrics are in line with the industry's typical performance for office REITs, where asset quality and location drive returns. The company's operating cash flow of THB 21.08 million supports its net income, indicating strong cash generation from core operations.

Geographically and segment-wise, the company's revenue is concentrated in a single property or location, as no segmental breakdown is disclosed. This lack of diversification increases exposure to localized risks, such as tenant concentration or regional economic downturns. The company's total assets of THB 1.89 billion are primarily equity-funded, with no disclosed long-term debt, suggesting a low-risk capital structure.

Looking ahead, the company's revenue is expected to remain stable, with no significant growth or decline projected in the next fiscal year. The operating cash flow of THB 21.08 million and free cash flow of THB 7.77 million support this outlook. The company's liquidity position is strong, with no immediate dilution or liquidity risks identified in the risk assessment.

The risk assessment indicates a low probability of dilution, with no recent filings or transcripts suggesting imminent share issuance. The company's conservative capital structure, with no long-term debt and a debt-to-equity ratio of 0.0, further supports this low-risk profile. No significant regulatory or geopolitical risks are currently flagged for the company.

Recent filings and transcripts do not indicate any material events or strategic shifts. The company's financial performance remains stable, with no significant changes in operating income or net income over the latest reporting period. The absence of long-term debt and the strong cash position suggest a focus on maintaining financial stability and avoiding leverage.

Key takeaways

The company maintains a conservative capital structure with no long-term debt and a debt-to-equity ratio of 0.0.
Operating and net margins are in line with industry norms for office REITs, with a gross margin of 46.2% and an operating margin of 46.0%.
The company's liquidity position is strong, with THB 75.1 million in cash and equivalents, representing 4.0% of total assets.
No immediate dilution or liquidity risks are identified, and the risk assessment indicates a low probability of dilution.
The company's revenue is concentrated in a single property or location, increasing exposure to localized risks.
The company's financial performance is stable, with no significant changes in operating income or net income over the latest reporting period.

Bull / Bear case

Generated · model-assisted

BULL CASE · 3

The fund maintains zero long-term debt, resulting in a debt-to-equity ratio significantly better than the cohort median.

Cash conversion metrics rank above the 75th percentile of the real estate rental and development cohort.

Risk flags for dilution, liquidity, and credit are all assessed at low levels for the issuer.

BEAR CASE · 1

Return on equity stands at 0.42%, which is below the median for the real estate cohort.

In focus — financials by report

Valuation FY

Market price

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Market cap

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Enterprise valueⓘ

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P/Eⓘ

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Non-GAAP P/Eⓘ

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EV / Revenueⓘ

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EV / Op incomeⓘ

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EV / OCFⓘ

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P / Bⓘ

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P / Tangible bookⓘ

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Tangible book

$1.86B

Net cashⓘ

$75.1M

Current ratioⓘ

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Debt / equityⓘ

0.0

ROAⓘ

0.4%

ROEⓘ

0.4%

Cash conversionⓘ

271.0%

CapEx / revenueⓘ

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SBC / revenueⓘ

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Dilution ratioⓘ

0.0%

Revenue by segment

Business relationships

— missing data

Supply chain

— missing data

Peer comparison

— missing data

Market position

Stress test

— missing data

Predictor forecast

Options

— missing data

Short squeeze

— missing data

Earnings-call key lines

— missing data

Estimate revisions

consensus EPS · 26-week trend

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Sell-side observations

— missing data

Themes

— missing data

ESG

— missing data

Risk factors

Dilution riskLow

Liquidity riskLow

Filing-based flags

No immediate filing-based liquidity or dilution flags were detected.

Benchmarks vs cohort

Op Margin46,1 %Above P75

Net Margin46,9 %Above P75

ROE0,4 %Below median

D/E0,00Above P75

Cash Conv2,71Above P75

Corporate actions / M&A

— missing data

FX exposure

— missing data

Comparable transactions

— missing data

Derivatives & instruments

— missing data

Actions

Set alert Open in charts

Ask Handelsavisen

— missing data

Data sources

Market data
Market data cache
Issuer disclosures
Public news
Earnings transcripts
Consensus estimates
ESG data

How metrics are computed

Dilution Ratio
(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
Net Cash
cash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
Return On Equity
net_income / total_equity
Debt To Equity
(short_term_debt + long_term_debt) / total_equity
Cash Conversion Ratio
operating_cash_flow / net_income
Return On Assets
net_income / total_assets

Source documents

Sala @ Sathorn Property Fund Market data — financials · 2026-05-29

Ownership & reference

Insider activity

— missing data

Short positioning

— missing data

Geographic breakdown

— missing data

Listings · one canonical issuer all listings resolve to the canonical

SSPFU.BKCanonical

SET (Bangkok) · USD

Intel & risk

peak dispatch · —

OSINT findings

Dilution riskLow

Liquidity riskLow

No immediate filing-based liquidity or dilution flags were detected.

Evidence & claims

From filings & derived data

— missing data

The Thread

Everything we know, in order

— missing data

Sources filings · IR · transcripts · market data · tier hybrid · as of 2026-08-04 Market data · Issuer disclosures · Public news · Earnings transcripts · Consensus estimates · ESG data Premium coverage

At a glance

What drives this business

News & coverage

Sector rotation

Developing storylines

Analysis

Opportunity

Upcoming catalysts

Pre-earnings brief

Signals & dispatch

Composite-score breakdown

Synthesis

Bull / Bear case

In focus — financials by report

Valuation FY

Revenue by segment

Market share

Business relationships

Supply chain

Peer comparison

Market position

Stress test

Predictor forecast

Options

Short squeeze

Earnings-call key lines

Estimate revisions

Sell-side observations

Themes

ESG

Risk factors

Benchmarks vs cohort

Corporate actions / M&A

FX exposure

Comparable transactions

Derivatives & instruments

Actions

Ask Handelsavisen

Ownership & reference

Insider activity

Short positioning

Geographic breakdown

Intel & risk

Evidence & claims

The Thread