Thai Solar Energy Public Company Ltd(TH:TSE)
฿1.05-0.04 (-3.67%)
TH:TSE
Thai Solar Energy Public Company Ltd financials statements
฿1.05
At close:-0.04 (-3.67%)
Thai Solar Energy Public Company Ltd (TSE) Ratios
Thai Solar Energy Public Company Ltd Ratios
TH:TSE's free cash flow for Q2 2026 was ฿-555.47M. For the 2026 fiscal year, TH:TSE's free cash flow was decreased by ฿-637.64M and operating cash flow was ฿82.17M. See a summary of the company’s cash flow.
| Ratios | Dec 25 | Dec 24 | Dec 23 | Dec 22 | Dec 21 |
|---|---|---|---|---|---|
| Liquidity Ratios | |||||
| Current Ratio | 0.74 | 0.34 | 0.83 | 0.66 | 0.51 |
| Quick Ratio | 0.71 | 0.32 | 0.82 | 0.65 | 0.51 |
| Cash Ratio | 0.48 | 0.18 | 0.53 | 0.14 | 0.25 |
| Solvency Ratio | 0.10 | -0.04 | -0.35 | 0.08 | 0.07 |
| Operating Cash Flow Ratio | 0.09 | 0.19 | 0.24 | -0.06 | 0.15 |
| Short-Term Operating Cash Flow Coverage | 0.10 | 0.23 | 0.25 | -0.06 | 0.16 |
| Net Current Asset Value | ฿ -2.50B | ฿ -4.06B | ฿ -3.57B | ฿ -12.31B | ฿ -11.61B |
| Leverage Ratios | |||||
| Debt-to-Assets Ratio | 0.48 | 0.55 | 0.61 | 0.67 | 0.66 |
| Debt-to-Equity Ratio | 1.08 | 1.42 | 1.74 | 2.13 | 2.05 |
| Debt-to-Capital Ratio | 0.52 | 0.59 | 0.63 | 0.68 | 0.67 |
| Long-Term Debt-to-Capital Ratio | 0.34 | 0.44 | 0.42 | 0.63 | 0.60 |
| Financial Leverage Ratio | 2.25 | 2.59 | 2.83 | 3.18 | 3.10 |
| Debt Service Coverage Ratio | 0.28 | -0.07 | 0.00 | 0.29 | 0.18 |
| Interest Coverage Ratio | 0.76 | 0.18 | -2.59 | 0.65 | 0.30 |
| Debt to Market Cap | 3.09 | 2.12 | 1.65 | 2.73 | 2.28 |
| Interest Debt Per Share | 1.65 | 2.12 | 3.15 | 6.63 | 6.29 |
| Net Debt to EBITDA | 5.22 | -32.12 | 323.52 | 16.17 | 19.37 |
| Profitability Margins | |||||
| Gross Profit Margin | 24.09% | 26.72% | 25.96% | 32.07% | 29.45% |
| EBIT Margin | 12.67% | -37.11% | -57.33% | 37.34% | 12.93% |
| EBITDA Margin | 38.09% | -10.31% | 1.14% | 62.84% | 41.11% |
| Operating Profit Margin | 12.67% | 3.89% | -82.55% | 16.26% | 6.57% |
| Pretax Profit Margin | 3.27% | -41.97% | -140.23% | 61.66% | 32.91% |
| Net Profit Margin | 3.76% | -42.63% | -252.50% | 55.06% | 32.33% |
| Continuous Operations Profit Margin | 3.44% | -42.63% | -140.48% | 11.28% | -9.84% |
| Net Income Per EBT | 115.07% | 101.56% | 180.06% | 89.29% | 98.22% |
| EBT Per EBIT | 25.80% | -1079.77% | 169.87% | 379.17% | 501.32% |
| Return on Assets (ROA) | 0.69% | -6.49% | -29.05% | 3.53% | 2.50% |
| Return on Equity (ROE) | 1.54% | -16.79% | -82.31% | 11.23% | 7.76% |
| Return on Capital Employed (ROCE) | 3.06% | 0.80% | -14.80% | 1.20% | 0.61% |
| Return on Invested Capital (ROIC) | 2.37% | 0.62% | -9.69% | 1.03% | 0.50% |
| Return on Tangible Assets | 0.82% | -7.40% | -32.61% | 4.63% | 3.34% |
| Earnings Yield | 4.70% | -26.31% | -80.90% | 14.61% | 8.88% |
| Efficiency Ratios | |||||
| Receivables Turnover | 4.82 | 4.70 | 1.12 | 1.20 | 1.83 |
| Payables Turnover | 17.42 | 12.85 | 9.57 | 23.06 | 19.67 |
| Inventory Turnover | 18.35 | 21.73 | 24.84 | 28.63 | 40.88 |
| Fixed Asset Turnover | 0.31 | 0.29 | 0.31 | 0.11 | 0.14 |
| Asset Turnover | 0.18 | 0.15 | 0.12 | 0.06 | 0.08 |
| Working Capital Turnover Ratio | -1.41 | -1.21 | -1.57 | -1.03 | -1.00 |
| Cash Conversion Cycle | 74.73 | 66.06 | 302.49 | 301.47 | 190.26 |
| Days of Sales Outstanding | 75.79 | 77.67 | 325.92 | 304.56 | 199.88 |
| Days of Inventory Outstanding | 19.90 | 16.79 | 14.69 | 12.75 | 8.93 |
| Days of Payables Outstanding | 20.95 | 28.41 | 38.13 | 15.83 | 18.55 |
| Operating Cycle | 95.68 | 94.47 | 340.62 | 317.31 | 208.81 |
| Cash Flow Ratios | |||||
| Operating Cash Flow Per Share | 0.07 | 0.18 | 0.41 | -0.07 | 0.25 |
| Free Cash Flow Per Share | -0.06 | -0.06 | -0.49 | -1.49 | -0.59 |
| Dividend Paid and CapEx Coverage Ratio | 0.55 | 0.62 | 0.41 | -0.05 | 0.27 |
| Capital Expenditure Coverage Ratio | 0.55 | 0.75 | 0.45 | -0.05 | 0.29 |
| Operating Cash Flow Coverage Ratio | 0.05 | 0.09 | 0.14 | -0.01 | 0.04 |
| Operating Cash Flow to Sales Ratio | 0.12 | 0.32 | 0.74 | -0.12 | 0.34 |
| Free Cash Flow Yield | -12.19% | -6.67% | -28.25% | -63.78% | -22.52% |
| Valuation Ratios | |||||
| Price-to-Earnings (P/E) Ratio | 21.27 | -3.75 | -1.23 | 6.88 | 11.39 |
| Price-to-Sales (P/S) Ratio | 0.80 | 1.62 | 3.12 | 3.77 | 3.64 |
| Price-to-Book (P/B) Ratio | 0.33 | 0.64 | 1.02 | 0.77 | 0.87 |
| Price-to-Free Cash Flow (P/FCF) Ratio | -8.20 | -14.99 | -3.54 | -1.57 | -4.44 |
| Price-to-Operating Cash Flow Ratio | 6.60 | 5.10 | 4.24 | -31.60 | 10.68 |
| Price-to-Earnings Growth (PEG) Ratio | -0.19 | 0.05 | 0.00 | 0.14 | 0.76 |
| Enterprise Value Multiple | 7.32 | -47.83 | 597.40 | 22.17 | 28.23 |
| Enterprise Value | 3.47B | 5.80B | 8.04B | 18.31B | 17.69B |
| EV to EBITDA | 7.32 | -47.83 | 597.40 | 22.17 | 28.23 |
| EV to Sales | 2.79 | 4.93 | 6.81 | 13.93 | 11.61 |
| EV to Free Cash Flow | -28.60 | -45.65 | -7.72 | -5.79 | -14.15 |
| EV to Operating Cash Flow | 23.00 | 15.53 | 9.25 | -116.78 | 34.05 |
| Tangible Book Value Per Share | 0.91 | 0.96 | 1.18 | 0.73 | 0.67 |
| Shareholders’ Equity Per Share | 1.43 | 1.41 | 1.71 | 3.04 | 3.00 |
| Tax and Other Ratios | |||||
| Effective Tax Rate | -0.05 | -0.02 | -0.00 | 0.02 | 0.02 |
| Revenue Per Share | 0.59 | 0.56 | 0.56 | 0.62 | 0.72 |
| Net Income Per Share | 0.02 | -0.24 | -1.41 | 0.34 | 0.23 |
| Tax Burden | 1.15 | 1.02 | 1.80 | 0.89 | 0.98 |
| Interest Burden | 0.26 | 1.13 | 2.45 | 1.65 | 2.55 |
| Research & Development to Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A to Revenue | 0.12 | 0.27 | 1.15 | 0.16 | 0.23 |
| Stock-Based Compensation to Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income Quality | 3.22 | -0.76 | -0.29 | -0.21 | 1.04 |
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