Income Statement I2 Enterprise Thailand S.E.

Stocks

I2-R

THB453010R11

Integrated Telecommunications Services

End-of-day quote Thailand S.E. 2026-09-18			5-day change	1st Jan Change
0.7500 ^THB	-1.32%		-5.06%	+7.14%

08-06	I2 Enterprise Public Company Limited Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI
05-15	I2 Enterprise Public Company Limited Announces Establishment of New Subsidiary	CI

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Published financial data: I2 ENTERPRISE

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Revenues	1.36B	936M	1.42B	1.36B	806M
Other Revenues, Total	2.69M	7.52M	8.19M	8.4M	6.39M
Total Revenues	1.37B	943M	1.43B	1.37B	812M
Cost of Goods Sold, Total	1.23B	809M	1.24B	1.23B	719M
Gross Profit	140M	134M	188M	140M	93.48M
Selling General & Admin Expenses, Total	37.78M	69.64M	67M	71.66M	85.65M
Other Operating Expenses, Total	37.78M	69.64M	67M	71.66M	85.65M
Operating Income	102M	64.59M	121M	68.73M	7.83M
Interest Expense, Total	-1.32M	-8.54M	-15.35M	-39.9M	-40.95M
Interest And Investment Income	-	-	-	45.06M	48.61M
Net Interest Expenses	-1.32M	-8.54M	-15.35M	5.16M	7.66M
EBT, Excl. Unusual Items	101M	56.05M	105M	73.89M	15.49M
EBT, Incl. Unusual Items	101M	56.05M	105M	73.89M	15.49M
Income Tax Expense	20.28M	11.08M	20.12M	15.85M	5.27M
Earnings From Continuing Operations	80.56M	44.98M	85.35M	58.04M	10.21M
Net Income to Company	80.56M	44.98M	85.35M	58.04M	10.21M
Minority Interest	-	-	-	1.1M	3.19M
Net Income - (IS)	80.56M	44.98M	85.35M	59.14M	13.41M
Net Income to Common Incl Extra Items	80.56M	44.98M	85.35M	59.14M	13.41M
Net Income to Common Excl. Extra Items	80.56M	44.98M	85.35M	59.14M	13.41M
Per Share Items
Net EPS - Basic	0.57	0.18	0.24	0.14	0.03
Basic EPS - Continuing Operations	0.57	0.18	0.24	0.14	0.03
Basic Weighted Average Shares Outstanding	141M	250M	350M	420M	447M
Net EPS - Diluted	0.57	0.18	0.24	0.14	0.03
Diluted EPS - Continuing Operations	0.57	0.18	0.24	0.14	0.03
Diluted Weighted Average Shares Outstanding	141M	250M	350M	420M	447M
Normalized Basic EPS	0.45	0.14	0.19	0.11	0.03
Normalized Diluted EPS	0.45	0.14	0.19	0.11	0.03
Dividend Per Share	0.62	0.08	0.1	0.07	0.02
Payout Ratio	16.88	196.17	26.36	71.02	219.29
Supplemental Items
EBITDA	103M	65.62M	123M	70.65M	10.02M
EBITA	102M	64.59M	121M	68.73M	7.83M
EBIT	102M	64.59M	121M	68.73M	7.83M
Total Revenues (As Reported)	1.37B	943M	1.43B	1.37B	812M
Effective Tax Rate - (Ratio)	20.11	19.76	19.07	21.46	34.05
Current Domestic Taxes	22.83M	13.48M	-	-	-
Total Current Taxes	22.83M	13.48M	23.72M	20.88M	15.16M
Deferred Domestic Taxes	-2.56M	-2.4M	-	-	-
Total Deferred Taxes	-2.56M	-2.4M	-3.61M	-5.03M	-9.89M
Normalized Net Income	63.02M	35.03M	65.91M	47.28M	12.87M
Interest on Long-Term Debt	704K	703K	468K	767K	3.1M
Non-Cash Pension Expense	1.1M	1M	206K	270K	322K
Supplemental Operating Expense Items
Selling and Marketing Expenses	8.6M	13.19M	24.41M	26.79M	32.72M
General and Administrative Expenses	29.17M	56.45M	42.59M	44.88M	52.93M

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Assets
Cash And Equivalents	105M	89.93M	267M	80.26M	75.43M
Short Term Investments	43.8K	42K	-	-	-
Trading Asset Securities, Total	-	-	64.24M	15.38M	4.01M
Total Cash And Short Term Investments	105M	89.97M	331M	95.64M	79.44M
Accounts Receivable, Total	251M	373M	898M	476M	303M
Other Receivables	2.27M	-6.37M	24.4M	10.81M	21.83M
Notes Receivable	-	-	-	25M	25M
Total Receivables	253M	367M	922M	512M	350M
Inventory	21.32M	74.12M	542M	113M	79.32M
Other Current Assets, Total	60.98M	72.85M	60.67M	15.24M	11.59M
Total Current Assets	441M	604M	1.86B	736M	520M
Gross Property Plant And Equipment	27.45M	33.62M	17.42M	24.77M	22.4M
Accumulated Depreciation	-11.52M	-17.34M	-6.15M	-7.15M	-8.29M
Net Property Plant And Equipment	15.93M	16.28M	11.27M	17.62M	14.11M
Other Intangibles, Total	-	2.07M	1.82M	1.45M	1.11M
Accounts Receivable Long-Term	105M	130M	109M	1.22B	1.12B
Deferred Tax Assets Long-Term	3.53M	5.93M	10.93M	15.96M	26.24M
Other Long-Term Assets, Total	35.03M	36.04M	52.39M	101M	114M
Total Assets	601M	794M	2.04B	2.09B	1.79B
Liabilities
Accounts Payable, Total	201M	282M	332M	169M	54.8M
Accrued Expenses, Total	-	-	4.61M	14.41M	6.53M
Short-term Borrowings	15M	66.18M	151M	41.83M	30M
Current Portion of Long-Term Debt	4.44M	1.79M	-	92.2M	87.69M
Current Portion of Leases	4.47M	5.09M	1.68M	5.35M	20.71M
Current Income Taxes Payable	790K	-	3.05M	3.36M	-
Unearned Revenue Current, Total	39.74M	81.6M	53.9M	142M	84.69M
Other Current Liabilities	12.5M	11.94M	104M	153M	166M
Total Current Liabilities	277M	449M	649M	621M	450M
Long-Term Debt	1.79M	-	687M	714M	632M
Long-Term Leases	7.55M	4.27M	2.65M	4.58M	50.62M
Unearned Revenue Non Current	20.9M	27.5M	25.97M	72.42M	5.4M
Pension & Other Post Retirement Benefits	6.65M	7.65M	8.66M	10.26M	14.09M
Other Non Current Liabilities	71.98M	54.79M	49.21M	21.13M	-
Total Liabilities	386M	543M	1.42B	1.44B	1.15B
Common Stock, Total	70.59M	150M	210M	210M	210M
Additional Paid In Capital	38.91M	38.91M	298M	298M	298M
Retained Earnings	105M	61.52M	111M	142M	124M
Total Common Equity	214M	250M	618M	649M	631M
Minority Interest	-	-	-	-38.62K	7.96M
Total Equity	214M	250M	618M	649M	639M
Total Liabilities And Equity	601M	794M	2.04B	2.09B	1.79B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	141M	300M	420M	420M	420M
ECS Total Common Shares Outstanding	141M	300M	420M	420M	420M
Book Value / Share	1.52	0.83	1.47	1.55	1.5
Tangible Book Value	214M	248M	617M	648M	630M
Tangible Book Value Per Share	1.52	0.83	1.47	1.54	1.5
Total Debt	33.25M	77.34M	842M	858M	821M
Net Debt	-71.91M	-12.63M	512M	762M	742M
Debt Equivalent of Unfunded Proj. Benefit Obligation	6.65M	7.65M	8.66M	10.26M	14.08M
Minority Interest, Total (Incl. Fin. Div)	-	-	-	-38.62K	7.96M
Account Code - Inventory Valuation	-	5	8	8	8
Inventories - Work In Process, Total	6.3M	51.18M	489M	29M	3.52M
Inventories - Finished Goods, Total	15.02M	22.95M	3.08M	2.66M	2.67M
Buildings, Total	290K	2.43M	3.14M	4.74M	4.81M
Machinery, Total	5.49M	6.88M	7.2M	7.51M	7.83M

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Net Income	80.56M	44.98M	85.35M	59.14M	13.41M
Depreciation & Amortization - CF	5.08M	5.87M	6.61M	7.09M	8.04M
Depreciation & Amortization, Total	5.08M	5.87M	6.61M	7.09M	8.04M
(Gain) Loss From Sale Of Asset	1.58M	-	-252	2.14K	-
(Gain) Loss on Sale of Investments - (CF)	-92	-200	-243K	-1.71M	-1.77M
Asset Writedown & Restructuring Costs	-	-	-	-	32
Provision and Write-off of Bad Debts	2.91M	21.35M	-	2.04M	-
Other Operating Activities, Total	-2.33M	-4.2M	8.93M	-50.71M	-58.74M
Change In Accounts Receivable	-112M	-162M	-553M	-747M	198M
Change In Inventories	62.22M	-52.81M	-418M	460M	25.48M
Change In Accounts Payable	63.63M	60.35M	42.9M	-149M	-127M
Change in Unearned Revenues	9.83M	48.46M	13.31M	134M	-124M
Change in Other Net Operating Assets	482K	-3.05M	-12.35M	53.49M	57.25M
Cash from Operations	112M	-40.61M	-826M	-232M	-9.3M
Capital Expenditure	-551K	-3.53M	-1.04M	-2.29M	-795K
Sale of Property, Plant, and Equipment	1.38M	-	3.27K	733	-
Sale (Purchase) of Intangible assets	-	-2.12M	-254K	-163K	-314K
Investment in Marketable and Equity Securities, Total	2M	2K	-63.96M	36.84M	13.33M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-25M	-
Other Investing Activities, Total	-15.8M	-863K	-14.57M	-815K	-43.98M
Cash from Investing	-12.97M	-6.51M	-79.82M	8.57M	-31.75M
Short Term Debt Issued, Total	15M	51.18M	84.67M	-	-
Long-Term Debt Issued, Total	6.23M	-	691M	147M	13.75M
Total Debt Issued	21.23M	51.18M	776M	147M	13.75M
Short Term Debt Repaid, Total	-	-	-	-109M	-11.83M
Long-Term Debt Repaid, Total	-27.41M	-10.44M	-12.35M	-35.13M	-112M
Total Debt Repaid	-27.41M	-10.44M	-12.35M	-144M	-124M
Issuance of Common Stock	-	79.41M	324M	-	-
Common Dividends Paid	-13.6M	-88.24M	-22.5M	-42M	-29.4M
Common & Preferred Stock Dividends Paid	-13.6M	-88.24M	-22.5M	-42M	-29.4M
Other Financing Activities, Total	-	-	17.45M	76.33M	176M
Cash from Financing	-19.78M	31.92M	1.08B	36.94M	36.22M
Net Change in Cash	79.67M	-15.19M	177M	-186M	-4.83M
Supplemental Items
Cash Interest Paid	283K	4.19M	11.3M	35.37M	34.92M
Cash Income Tax Paid (Refund)	23.42M	14.27M	18.79M	18.67M	18.7M
Levered Free Cash Flow	-	-20.66M	-831M	889M	15.3M
Unlevered Free Cash Flow	-	-15.33M	-821M	914M	40.89M
Change In Net Working Capital	-	55.92M	902M	-867M	-29.07M
Net Debt Issued / Repaid	-6.18M	40.74M	764M	2.6M	-110M

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Profitability
Return on Assets	-	5.79	5.28	2.08	0.25
Return on Total Capital	-	14.03	8.44	2.89	0.33
Return On Equity %	-	19.36	19.64	9.16	1.59
Return on Common Equity	-	19.36	19.64	9.33	2.09
Margin Analysis
Gross Profit Margin %	10.24	14.23	13.15	10.24	11.51
SG&A Margin	2.76	7.38	4.69	5.22	10.54
EBITDA Margin %	7.54	6.96	8.58	5.15	1.23
EBITA Margin %	7.48	6.85	8.46	5.01	0.96
EBIT Margin %	7.48	6.85	8.46	5.01	0.96
Income From Continuing Operations Margin %	5.9	4.77	5.98	4.23	1.26
Net Income Margin %	5.9	4.77	5.98	4.31	1.65
Net Avail. For Common Margin %	5.9	4.77	5.98	4.31	1.65
Normalized Net Income Margin	4.61	3.71	4.62	3.45	1.58
Levered Free Cash Flow Margin	-	-2.19	-58.17	64.83	1.88
Unlevered Free Cash Flow Margin	-	-1.62	-57.5	66.65	5.03
Asset Turnover
Asset Turnover	-	1.35	1	0.66	0.42
Fixed Assets Turnover	-	58.58	103.66	94.95	51.2
Receivables Turnover (Average Receivables)	-	3	2.25	1.98	2.07
Inventory Turnover (Average Inventory)	-	16.96	3.68	3.78	7.49
Short Term Liquidity
Current Ratio	1.59	1.34	2.86	1.18	1.16
Quick Ratio	1.29	1.02	1.93	0.94	0.9
Operating Cash Flow to Current Liabilities	0.41	-0.09	-1.27	-0.37	-0.02
Days Sales Outstanding (Average Receivables)	-	121.7	162.03	184.47	176.42
Days Outstanding Inventory (Average Inventory)	-	21.53	99.1	96.77	48.76
Average Days Payable Outstanding	-	102.22	68.51	113.75	59.66
Cash Conversion Cycle (Average Days)	-	41	192.62	167.49	165.52
Long Term Solvency
Total Debt/Equity	15.52	30.88	136.2	132.2	128.39
Total Debt / Total Capital	13.43	23.6	57.66	56.93	56.22
LT Debt/Equity	4.36	1.71	111.53	110.72	106.75
Long-Term Debt / Total Capital	3.77	1.3	47.22	47.68	46.74
Total Liabilities / Total Assets	64.32	68.44	69.7	68.99	64.31
EBIT / Interest Expense	77.27	7.56	7.87	1.72	0.19
EBITDA / Interest Expense	81.11	8.25	8.3	1.9	0.39
(EBITDA - Capex) / Interest Expense	80.69	7.84	8.23	1.84	0.37
Total Debt / EBITDA	0.31	1.1	6.61	11.32	51.75
Net Debt / EBITDA	-0.67	-0.18	4.01	10.06	46.74
Total Debt / (EBITDA - Capex)	0.31	1.16	6.67	11.67	54.48
Net Debt / (EBITDA - Capex)	-0.67	-0.19	4.05	10.37	49.21
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	-30.96	51.36	-2.43	-40.78
Gross Profit, 1 Yr. Growth %	-	-4.07	39.91	-15.29	-33.41
EBITDA, 1 Yr. Growth %	-	-36.27	86.69	-29.65	-85.82
EBITA, 1 Yr. Growth %	-	-36.77	87.03	-30.39	-88.61
EBIT, 1 Yr. Growth %	-	-36.77	87.03	-30.39	-88.61
Earnings From Cont. Operations, 1 Yr. Growth %	-	-44.17	89.75	-32	-82.4
Net Income, 1 Yr. Growth %	-	-44.17	89.75	-30.7	-77.33
Normalized Net Income, 1 Yr. Growth %	-	-44.41	88.14	-28.26	-72.78
Diluted EPS Before Extra, 1 Yr. Growth %	-	-68.41	35.42	-42.31	-78.57
Accounts Receivable, 1 Yr. Growth %	-	48.66	147.67	-46.96	-36.42
Inventory, 1 Yr. Growth %	-	247.74	311.35	-79.05	-29.65
Net Property, Plant and Equip., 1 Yr. Growth %	-	2.19	-30.77	56.36	-19.93
Total Assets, 1 Yr. Growth %	-	32.12	149.98	2.53	-14.4
Tangible Book Value, 1 Yr. Growth %	-	15.91	148.29	5.02	-2.66
Common Equity, 1 Yr. Growth %	-	16.87	146.97	4.94	-2.71
Cash From Operations, 1 Yr. Growth %	-	-136.12	1.37K	-72.44	-95.99
Capital Expenditures, 1 Yr. Growth %	-	540.42	-70.56	120.43	-65.29
Levered Free Cash Flow, 1 Yr. Growth %	-	-	9.17K	-205.74	-98.28
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	22.57K	-209.96	-95.53
Dividend Per Share, 1 Yr. Growth %	-	-88	33.33	-30	-68.57
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	2.23	20.58	-23.99
Gross Profit, 2 Yr. CAGR %	-	-	15.85	2.27	-24.89
EBITDA, 2 Yr. CAGR %	-	-	9.07	3.76	-68.41
EBITA, 2 Yr. CAGR %	-	-	8.75	3.15	-71.84
EBIT, 2 Yr. CAGR %	-	-	8.75	3.15	-71.84
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-	2.93	13.59	-65.41
Net Income, 2 Yr. CAGR %	-	-	2.93	14.67	-60.37
Normalized Net Income, 2 Yr. CAGR %	-	-	2.27	16.18	-55.81
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	-34.6	-11.62	-64.94
Accounts Receivable, 2 Yr. CAGR %	-	-	89.15	14.61	-41.93
Inventory, 2 Yr. CAGR %	-	-	404.12	-7.47	-61.61
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	-15.89	4.04	11.89
Total Assets, 2 Yr. CAGR %	-	-	84.36	60.09	-6.32
Tangible Book Value, 2 Yr. CAGR %	-	-	69.64	61.48	1.11
Common Equity, 2 Yr. CAGR %	-	-	69.89	60.99	1.05
Cash From Operations, 2 Yr. CAGR %	-	-	171.11	102.79	-89.49
Capital Expenditures, 2 Yr. CAGR %	-	-	37.31	-19.44	-12.53
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-	896.37	-86.51
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-	1.49K	-77.82
Dividend Per Share, 2 Yr. CAGR %	-	-	-60	-3.39	-53.1
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	0.13	-4.86
Gross Profit, 3 Yr. CAGR %	-	-	-	0.11	-11.36
EBITDA, 3 Yr. CAGR %	-	-	-	-11.8	-46.55
EBITA, 3 Yr. CAGR %	-	-	-	-12.37	-50.51
EBIT, 3 Yr. CAGR %	-	-	-	-12.37	-50.51
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-	-10.35	-38.99
Net Income, 3 Yr. CAGR %	-	-	-	-9.79	-33.2
Normalized Net Income, 3 Yr. CAGR %	-	-	-	-9.13	-28.38
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-	-37.28	-44.99
Accounts Receivable, 3 Yr. CAGR %	-	-	-	23.8	-5.83
Inventory, 3 Yr. CAGR %	-	-	-	74.23	-15.55
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-	3.42	-4.66
Total Assets, 3 Yr. CAGR %	-	-	-	51.61	29.94
Tangible Book Value, 3 Yr. CAGR %	-	-	-	44.58	36.41
Common Equity, 3 Yr. CAGR %	-	-	-	44.69	36.11
Cash From Operations, 3 Yr. CAGR %	-	-	-	27.28	-45.16
Capital Expenditures, 3 Yr. CAGR %	-	-	-	60.78	-39.15
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	19.52
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	124.35
Dividend Per Share, 3 Yr. CAGR %	-	-	-	-51.8	-33.56