Income Statement Business Alignment Thailand S.E.

Stocks

BIZ-R

TH7349010R12

Medical Equipment, Supplies & Distribution

End-of-day quote Thailand S.E. 2026-08-18			5-day change	1st Jan Change
6.000 ^THB	0.00%		-0.83%	+50.75%

08-10	Business Alignment Public Company Limited Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI
05-25	Business Alignment signs medical equipment contract	RE

45683302a9d89d2b8ab7ffafb7d0ed.Xf_8i9Bpet5XC_EpFBoAE5-67GtiF1Zvw635rSzAPIY.P4zJ3ZETP7MVJpREQ25wevXLgCE9YmAglMKe2lW6XfUXr67KlTE0vGMyqA

Published financial data: BUSINESS ALIGNMENT

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	2.92B	1.23B	1.69B	1.71B	2.02B
Other Revenues, Total	6.38M	4.04M	5.69M	2.98M	2.37M
Total Revenues	2.93B	1.23B	1.69B	1.72B	2.03B
Cost of Goods Sold, Total	2.3B	974M	1.36B	1.34B	1.54B
Gross Profit	628M	256M	339M	376M	491M
Selling General & Admin Expenses, Total	84.82M	80.31M	79.08M	88.29M	97.01M
Other Operating Expenses, Total	84.82M	80.31M	79.08M	88.29M	97.01M
Operating Income	544M	175M	260M	288M	393M
Interest Expense, Total	-24.21M	-14.34M	-11.79M	-7.72M	-8.59M
Interest And Investment Income	-	-	-	7.88M	12.17M
Net Interest Expenses	-24.21M	-14.34M	-11.79M	163K	3.58M
Income (Loss) On Equity Invest.	-	-	-	-	-154K
Currency Exchange Gains (Loss)	7M	5.58M	3.73M	-3.66M	-12.76M
Other Non Operating Income (Expenses)	-	-	-	-4.15M	-1.74M
EBT, Excl. Unusual Items	526M	167M	252M	280M	382M
EBT, Incl. Unusual Items	526M	167M	252M	280M	382M
Income Tax Expense	108M	35.01M	50.19M	54.8M	75.24M
Earnings From Continuing Operations	418M	132M	202M	225M	307M
Net Income to Company	418M	132M	202M	225M	307M
Minority Interest	1.86M	1.72M	-345K	-870K	-1.62M
Net Income - (IS)	420M	133M	201M	224M	306M
Net Income to Common Incl Extra Items	420M	133M	201M	224M	306M
Net Income to Common Excl. Extra Items	420M	133M	201M	224M	306M
Per Share Items
Net EPS - Basic	0.7	0.22	0.33	0.37	0.51
Basic EPS - Continuing Operations	0.7	0.22	0.33	0.37	0.51
Basic Weighted Average Shares Outstanding	600M	600M	601M	606M	599M
Net EPS - Diluted	0.7	0.22	0.33	0.37	0.51
Diluted EPS - Continuing Operations	0.7	0.22	0.33	0.37	0.51
Diluted Weighted Average Shares Outstanding	603M	610M	601M	606M	599M
Normalized Basic EPS	0.55	0.18	0.26	0.29	0.4
Normalized Diluted EPS	0.55	0.17	0.26	0.29	0.4
Dividend Per Share	0.45	0.2	0.3	0.35	0.5
Payout Ratio	38.06	128.22	59.72	80.39	68.81
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	562M	196M	278M	305M	411M
EBITA	544M	175M	260M	288M	393M
EBIT	544M	175M	260M	288M	393M
EBITDAR	563M	197M	279M	306M	411M
Total Revenues (As Reported)	2.93B	1.24B	1.7B	1.72B	2.03B
Effective Tax Rate - (Ratio)	20.49	21	19.94	19.58	19.67
Current Domestic Taxes	-	36.94M	51.56M	56.72M	77.33M
Total Current Taxes	111M	36.94M	51.56M	56.72M	77.33M
Deferred Domestic Taxes	-	-1.92M	-1.37M	-1.92M	-2.09M
Total Deferred Taxes	-2.75M	-1.92M	-1.37M	-1.92M	-2.09M
Normalized Net Income	331M	106M	157M	174M	237M
Interest Capitalized	-	-	-	-	-
Interest on Long-Term Debt	402K	294K	180K	58K	510K
Non-Cash Pension Expense	154K	226K	281K	310K	265K
Supplemental Operating Expense Items
Advertising Expense	1.62M	967K	3.18M	3.76M	4.87M
Selling and Marketing Expenses	24.75M	21.09M	23.57M	27.97M	32.77M
General and Administrative Expenses	60.07M	59.22M	55.51M	60.32M	64.24M
Net Rental Expense, Total	720K	650K	738K	590K	495K
Imputed Operating Lease Interest Expense	317K	253K	416K	269K	130K
Imputed Operating Lease Depreciation	403K	397K	322K	321K	365K

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	323M	234M	624M	397M	154M
Short Term Investments	93.61M	31.59M	37.89M	17.43M	12.39M
Total Cash And Short Term Investments	417M	265M	662M	415M	166M
Accounts Receivable, Total	575M	230M	189M	354M	613M
Other Receivables	20.57M	1.46M	11.96M	5.37M	26.91M
Total Receivables	596M	231M	201M	359M	639M
Inventory	331M	316M	96.66M	217M	572M
Prepaid Expenses	49.3M	-	72.68M	70.29M	73.8M
Other Current Assets, Total	2.66M	144M	4.47M	5.3M	5.34M
Total Current Assets	1.4B	957M	1.04B	1.07B	1.46B
Gross Property Plant And Equipment	428M	424M	428M	434M	441M
Accumulated Depreciation	-52.79M	-71.54M	-88M	-106M	-122M
Net Property Plant And Equipment	375M	353M	340M	329M	319M
Long-term Investments	21.81M	-	-	-	1.21M
Other Intangibles, Total	1.16M	1.01M	2.19M	2.22M	2.07M
Accounts Receivable Long-Term	-	-	-	91.84M	83.54M
Deferred Tax Assets Long-Term	12.93M	14.58M	15.89M	17.76M	19.88M
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	1.04M	81.27M	82.13M	117M	95.67M
Total Assets	1.81B	1.41B	1.48B	1.62B	1.98B
Liabilities
Accounts Payable, Total	230M	66.53M	83.82M	123M	101M
Accrued Expenses, Total	3.65M	5.18M	5.18M	6.46M	7.63M
Short-term Borrowings	115M	91.49M	-	-	225M
Current Portion of Long-Term Debt	13.06M	32.7M	13.88M	24.29M	40.2M
Current Portion of Leases	1.68M	1.82M	1.85M	-	1.49M
Current Income Taxes Payable	45.17M	18.95M	25.18M	40.55M	52.04M
Unearned Revenue Current, Total	186M	161M	201M	205M	221M
Other Current Liabilities	29.19M	27.72M	30.06M	37.33M	36.06M
Total Current Liabilities	625M	405M	361M	437M	685M
Long-Term Debt	234M	94.82M	96.07M	134M	90.93M
Long-Term Leases	3.64M	1.83M	-	-	5.15M
Unearned Revenue Non Current	82.59M	70.71M	102M	89.45M	134M
Pension & Other Post Retirement Benefits	9.54M	9.83M	11.17M	12.61M	14.56M
Deferred Tax Liability Non Current	61.65K	-	-	-	-
Other Non Current Liabilities	12.06M	3.29M	4.9M	3.99M	5.22M
Total Liabilities	967M	586M	575M	677M	934M
Common Stock, Total	200M	300M	300M	300M	300M
Additional Paid In Capital	222M	226M	226M	226M	226M
Retained Earnings	371M	235M	316M	360M	455M
Comprehensive Income and Other	-	-7.75M	-7.75M	-7.75M	-7.75M
Total Common Equity	793M	753M	834M	878M	973M
Minority Interest	47.65M	67.86M	68.19M	69.1M	70.76M
Total Equity	841M	821M	902M	947M	1.04B
Total Liabilities And Equity	1.81B	1.41B	1.48B	1.62B	1.98B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	600M	601M	601M	601M	601M
ECS Total Common Shares Outstanding	600M	601M	601M	601M	601M
Book Value / Share	1.32	1.25	1.39	1.46	1.62
Tangible Book Value	792M	752M	832M	876M	971M
Tangible Book Value Per Share	1.32	1.25	1.38	1.46	1.62
Total Debt	368M	223M	112M	159M	363M
Net Debt	-49.34M	-42.65M	-551M	-256M	196M
Debt Equivalent of Unfunded Proj. Benefit Obligation	9.54M	9.83M	11.18M	12.61M	14.56M
Debt Equivalent Oper. Leases	5.76M	5.2M	5.9M	4.72M	3.96M
Minority Interest, Total (Incl. Fin. Div)	47.65M	67.86M	68.19M	69.1M	70.76M
Equity Method Investments, Total	-	-	-	-	1.21M
Account Code - Inventory Valuation	8	8	8	8	8
Inventories - Finished Goods, Total	302M	-	81.19M	205M	539M
Inventories - Others	11.01M	-	4.8M	2.25M	4.41M
Land - (BS)	60.48M	60.48M	-	60.48M	60.48M
Buildings, Total	232M	232M	239M	242M	242M
Machinery, Total	127M	126M	187M	132M	132M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	420M	133M	201M	224M	306M
Depreciation & Amortization - CF	20.35M	22.57M	20.22M	19.61M	19.07M
Depreciation & Amortization, Total	20.35M	22.57M	20.22M	19.61M	19.07M
Amortization of Deferred Charges, Total - (CF)	-	135K	161K	199K	204K
(Gain) Loss From Sale Of Asset	-216K	-	-31.02K	-	-
Asset Writedown & Restructuring Costs	-	9.7K	34.29K	17.55K	3.8K
(Income) Loss On Equity Investments - (CF)	-	-	-	-	154K
Other Operating Activities, Total	73.72M	-7.93M	9.93M	26.82M	4.86M
Change In Accounts Receivable	-470M	345M	41.53M	-157M	-259M
Change In Inventories	804M	-4.84M	230M	-121M	-337M
Change In Accounts Payable	-413M	-216M	98.71M	31.15M	45.99M
Change in Unearned Revenues	-	-	-	-	-
Change in Other Net Operating Assets	-1.54M	-57.02M	45.33M	-87.75M	-30.67M
Cash from Operations	435M	216M	647M	-63.75M	-250M
Capital Expenditure	-1.41M	-281K	-8.7M	-8.92M	-1.5M
Sale of Property, Plant, and Equipment	224K	-	79.44K	-	-
Divestitures	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-8M	-28.4M	-6.3M	20.47M	3.68M
Other Investing Activities, Total	1.06M	36.24M	1.58M	-27.37M	33.8M
Cash from Investing	-8.12M	7.56M	-13.34M	-15.82M	35.98M
Short Term Debt Issued, Total	-	-	-	-	225M
Long-Term Debt Issued, Total	-	-	-	69.31M	-
Total Debt Issued	-	-	-	69.31M	225M
Short Term Debt Repaid, Total	-134M	-23.7M	-91.49M	-	-
Long-Term Debt Repaid, Total	-8.95M	-121M	-19.36M	-22.51M	-28.91M
Total Debt Repaid	-143M	-145M	-111M	-22.51M	-28.91M
Issuance of Common Stock	-	3.59M	-	-	-
Common Dividends Paid	-160M	-171M	-120M	-180M	-210M
Common & Preferred Stock Dividends Paid	-160M	-171M	-120M	-180M	-210M
Other Financing Activities, Total	-6.56M	-391K	-11.97M	-12.19M	-10.05M
Cash from Financing	-310M	-313M	-243M	-146M	-24.23M
Foreign Exchange Rate Adjustments	-149K	-387K	-117K	-2.11M	-4.69M
Net Change in Cash	117M	-89.66M	391M	-227M	-243M
Supplemental Items
Cash Interest Paid	13.56M	14.49M	11.97M	12.19M	10.05M
Cash Income Tax Paid (Refund)	72.36M	63.73M	46.14M	42.08M	66.62M
Levered Free Cash Flow	235M	195M	549M	-24.01M	-374M
Unlevered Free Cash Flow	250M	204M	556M	-19.19M	-369M
Change In Net Working Capital	109M	-71.88M	-382M	210M	633M
Net Debt Issued / Repaid	-143M	-145M	-111M	46.8M	196M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	17.69	6.82	11.26	11.59	13.65
Return on Total Capital	29.61	9.74	15.78	16.95	19.57
Return On Equity %	59.12	15.85	23.39	24.34	30.85
Return on Common Equity	63.42	17.26	25.36	26.18	33
Margin Analysis
Gross Profit Margin %	21.47	20.8	19.99	21.89	24.2
SG&A Margin	2.9	6.53	4.67	5.14	4.79
EBITDA Margin %	19.21	15.97	16.42	17.79	20.28
EBITA Margin %	18.57	14.27	15.33	16.74	19.42
EBIT Margin %	18.57	14.27	15.33	16.74	19.42
Income From Continuing Operations Margin %	14.3	10.71	11.89	13.11	15.16
Net Income Margin %	14.36	10.85	11.87	13.06	15.08
Net Avail. For Common Margin %	14.36	10.85	11.87	13.06	15.08
Normalized Net Income Margin	11.3	8.61	9.26	10.14	11.71
Levered Free Cash Flow Margin	8.02	15.86	32.39	-1.4	-18.47
Unlevered Free Cash Flow Margin	8.54	16.59	32.82	-1.12	-18.2
Asset Turnover
Asset Turnover	1.52	0.77	1.18	1.11	1.12
Fixed Assets Turnover	7.61	3.38	4.89	5.14	6.25
Receivables Turnover (Average Receivables)	8.18	3.04	8.06	6.31	4.19
Inventory Turnover (Average Inventory)	3.14	3.1	6.15	8.55	3.89
Short Term Liquidity
Current Ratio	2.23	2.36	2.87	2.44	2.13
Quick Ratio	1.62	1.23	2.39	1.77	1.18
Operating Cash Flow to Current Liabilities	0.7	0.53	1.79	-0.15	-0.37
Days Sales Outstanding (Average Receivables)	44.59	119.88	45.3	58.01	87.15
Days Outstanding Inventory (Average Inventory)	116.31	117.65	59.35	42.83	93.75
Average Days Payable Outstanding	76.97	55.4	24.76	25.91	21.68
Cash Conversion Cycle (Average Days)	83.94	182.13	79.89	74.93	159.21
Long Term Solvency
Total Debt/Equity	43.71	27.13	12.39	16.74	34.74
Total Debt / Total Capital	30.41	21.34	11.03	14.34	25.78
LT Debt/Equity	28.26	11.78	10.65	14.18	9.2
Long-Term Debt / Total Capital	19.66	9.26	9.47	12.14	6.83
Total Liabilities / Total Assets	53.47	41.65	38.94	41.68	47.22
EBIT / Interest Expense	22.45	12.24	22.04	37.25	45.83
EBITDA / Interest Expense	23.29	13.81	23.76	39.79	48.05
(EBITDA - Capex) / Interest Expense	23.23	13.79	23.02	38.64	47.88
Total Debt / EBITDA	0.65	1.12	0.4	0.52	0.88
Net Debt / EBITDA	-0.09	-0.22	-1.97	-0.83	0.48
Total Debt / (EBITDA - Capex)	0.65	1.13	0.41	0.53	0.88
Net Debt / (EBITDA - Capex)	-0.09	-0.22	-2.03	-0.86	0.48
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	282.57	-57.99	37.82	1.49	18.01
Gross Profit, 1 Yr. Growth %	338.67	-59.29	32.47	11.8	30.52
EBITDA, 1 Yr. Growth %	433.7	-65.07	41.72	10.86	34.52
EBITA, 1 Yr. Growth %	528.25	-67.71	48.03	11.85	36.86
EBIT, 1 Yr. Growth %	528.25	-67.71	48.03	11.85	36.86
Earnings From Cont. Operations, 1 Yr. Growth %	1.32K	-68.53	53.01	11.68	36.49
Net Income, 1 Yr. Growth %	846.64	-68.26	50.78	11.44	36.3
Normalized Net Income, 1 Yr. Growth %	641.88	-67.98	48.2	10.87	36.4
Diluted EPS Before Extra, 1 Yr. Growth %	842.3	-68.57	50	12.12	37.84
Accounts Receivable, 1 Yr. Growth %	315.11	-60.03	-17.64	86.95	73.02
Inventory, 1 Yr. Growth %	-70.8	1.41	-71.92	124.77	163.15
Net Property, Plant and Equip., 1 Yr. Growth %	-4.93	-5.94	-3.67	-3.22	-2.91
Total Assets, 1 Yr. Growth %	-11.06	-22.21	5.07	9.95	21.79
Tangible Book Value, 1 Yr. Growth %	49.04	-5.12	10.66	5.32	10.88
Common Equity, 1 Yr. Growth %	49.11	-5.13	10.8	5.31	10.83
Cash From Operations, 1 Yr. Growth %	124.93	-50.32	195.9	-109.85	292.31
Capital Expenditures, 1 Yr. Growth %	-49.57	-80.09	3K	2.54	-83.17
Levered Free Cash Flow, 1 Yr. Growth %	22.7	-16.98	181.42	-104.36	1.46K
Unlevered Free Cash Flow, 1 Yr. Growth %	21.69	-18.42	172.66	-103.46	1.82K
Dividend Per Share, 1 Yr. Growth %	351.9	-55.74	50	16.67	42.86
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	99.83	26.77	-23.91	18.17	9.44
Gross Profit, 2 Yr. CAGR %	80.55	33.63	-26.56	21.21	20.8
EBITDA, 2 Yr. CAGR %	113.73	36.54	-29.64	24.73	22.12
EBITA, 2 Yr. CAGR %	117.23	42.42	-30.87	28	23.73
EBIT, 2 Yr. CAGR %	117.23	42.42	-30.87	28	23.73
Earnings From Cont. Operations, 2 Yr. CAGR %	127.58	111.12	-30.6	30.72	23.46
Net Income, 2 Yr. CAGR %	114.38	73.35	-30.82	29.62	23.24
Normalized Net Income, 2 Yr. CAGR %	105.19	54.13	-31.11	28.19	22.98
Diluted EPS Before Extra, 2 Yr. CAGR %	113.88	72.42	-31.34	29.68	24.32
Accounts Receivable, 2 Yr. CAGR %	76.78	28.82	-42.62	24.09	79.85
Inventory, 2 Yr. CAGR %	-34.55	-47.2	-44.31	-20.55	143.2
Net Property, Plant and Equip., 2 Yr. CAGR %	-3.82	-5.44	-4.81	-3.44	-3.06
Total Assets, 2 Yr. CAGR %	4.47	-16.82	-9.59	7.48	15.72
Tangible Book Value, 2 Yr. CAGR %	16.2	18.91	2.46	7.95	8.06
Common Equity, 2 Yr. CAGR %	16.24	18.94	2.52	8.02	8.03
Cash From Operations, 2 Yr. CAGR %	65.81	5.71	21.99	-46.01	-37.83
Capital Expenditures, 2 Yr. CAGR %	-92.57	-68.31	148.42	463.69	-58.46
Levered Free Cash Flow, 2 Yr. CAGR %	-26.94	0.93	52.85	-64.91	-17.53
Unlevered Free Cash Flow, 2 Yr. CAGR %	-24.21	-0.36	49.15	-69.33	-18.44
Dividend Per Share, 2 Yr. CAGR %	64.65	41.42	-18.52	32.29	29.1
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	63.99	18.82	30.35	-16.29	18.12
Gross Profit, 3 Yr. CAGR %	56.92	9.89	33.24	-15.75	24.24
EBITDA, 3 Yr. CAGR %	76.78	16.85	38.24	-18.39	27.91
EBITA, 3 Yr. CAGR %	76.09	15.07	44.27	-19.12	30.89
EBIT, 3 Yr. CAGR %	76.09	15.07	44.27	-19.12	30.89
Earnings From Cont. Operations, 3 Yr. CAGR %	74.78	17.69	89.63	-18.68	32.62
Net Income, 3 Yr. CAGR %	73.41	13.41	65.47	-18.9	31.81
Normalized Net Income, 3 Yr. CAGR %	72.53	10.47	52.13	-19.27	30.87
Diluted EPS Before Extra, 3 Yr. CAGR %	73.14	13.01	64.6	-19.15	32.35
Accounts Receivable, 3 Yr. CAGR %	24.83	7.7	10.97	-14.94	38.63
Inventory, 3 Yr. CAGR %	65.23	-25.77	-55.99	-11.33	18.43
Net Property, Plant and Equip., 3 Yr. CAGR %	38.31	-4.53	-4.85	-4.29	-3.27
Total Assets, 3 Yr. CAGR %	24.21	-5.31	-10.09	-3.5	12.05
Tangible Book Value, 3 Yr. CAGR %	12.16	8.61	16.1	3.41	8.92
Common Equity, 3 Yr. CAGR %	12.19	8.63	16.16	3.44	8.95
Cash From Operations, 3 Yr. CAGR %	49.28	10.95	49.59	-47.27	4.57
Capital Expenditures, 3 Yr. CAGR %	-77.61	-89.68	46	84.96	74.86
Levered Free Cash Flow, 3 Yr. CAGR %	2.62	-23.76	42.06	-53.24	24.26
Unlevered Free Cash Flow, 3 Yr. CAGR %	4.88	-22.33	39.37	-57.51	21.83
Dividend Per Share, 3 Yr. CAGR %	61.79	6.26	44.22	-8.16	35.72
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	31.68	14.61	20.62	18.56	21.51
Gross Profit, 5 Yr. CAGR %	38.31	22.97	15.82	14.29	27.91
EBITDA, 5 Yr. CAGR %	45.29	29.99	22.29	19.94	31.29
EBITA, 5 Yr. CAGR %	44.71	27.92	21.15	20.08	35.39
EBIT, 5 Yr. CAGR %	44.71	27.92	21.15	20.08	35.39
Earnings From Cont. Operations, 5 Yr. CAGR %	42.9	26.2	20.79	22.74	59.72
Net Income, 5 Yr. CAGR %	43.02	26.53	20.07	19.64	47.08
Normalized Net Income, 5 Yr. CAGR %	44.61	26.92	19.5	17.24	39.72
Diluted EPS Before Extra, 5 Yr. CAGR %	35.62	26.26	19.69	19.41	47.12
Accounts Receivable, 5 Yr. CAGR %	21.62	12.03	-8.53	13.98	34.62
Inventory, 5 Yr. CAGR %	25.24	100.29	5.66	-22.41	-12.8
Net Property, Plant and Equip., 5 Yr. CAGR %	146.96	62.57	19.11	-4.1	-4.14
Total Assets, 5 Yr. CAGR %	23.51	12.88	9.39	-0.39	-0.54
Tangible Book Value, 5 Yr. CAGR %	9.17	7.96	8.18	8.34	12.81
Common Equity, 5 Yr. CAGR %	9.2	7.98	8.22	8.38	12.84
Cash From Operations, 5 Yr. CAGR %	234.84	-1.08	37.7	-16.62	5.29
Capital Expenditures, 5 Yr. CAGR %	-5.58	-60.36	-41.38	-48.87	-11.7
Levered Free Cash Flow, 5 Yr. CAGR %	43.71	-0.22	20.35	-44.1	14.34
Unlevered Free Cash Flow, 5 Yr. CAGR %	48.48	0.6	20.74	-46.44	12.41
Dividend Per Share, 5 Yr. CAGR %	46.62	30.27	22.97	15.99	37.97