Income Statement Information and Communication Networks

Stocks

ICN

TH8190010000

Integrated Telecommunications Services

End-of-day quote Thailand S.E. 2026-09-08			5-day change	1st Jan Change
2.240 ^THB	+3.70%		+2.75%	+30.99%

08-27	Information & Communication Secures Two Contracts Worth THB176 Million	MT
08-26	Information and Communication Networks Public Company Limited Receives Contract for Purchase and Installation of Communication Equipment for Teleprotection System in Provincial Electricity Authority Region 3	CI

86256efbc73c7064a582be85dbf29ff.3g2Y6gJ4F9M7d7KsQeAVESOW6Ey0pgvaKJmelD5cNOw.iW7VkDc5I5p9L8rFeYlGUA7vvzvHlka5Gqr4zUkpALqyW66sSxxn63pF_w

Published financial data: INFORMATION AND COMMUNICATION NETWORKS

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Revenues	1.76B	1.44B	1.86B	1.42B	1.11B
Other Revenues, Total	2.12M	849K	1.76M	2.63M	2.46M
Total Revenues	1.76B	1.44B	1.86B	1.43B	1.11B
Cost of Goods Sold, Total	1.47B	1.19B	1.54B	1.14B	886M
Gross Profit	293M	255M	318M	282M	226M
Selling General & Admin Expenses, Total	92.98M	87.03M	95.98M	92.25M	95.56M
Other Operating Expenses, Total	92.98M	87.03M	95.98M	92.25M	95.56M
Operating Income	200M	168M	222M	190M	131M
Interest Expense, Total	-910K	-983K	-1.12M	-963K	-548K
Net Interest Expenses	-910K	-983K	-1.12M	-963K	-548K
EBT, Excl. Unusual Items	199M	167M	221M	189M	130M
EBT, Incl. Unusual Items	199M	167M	221M	189M	130M
Income Tax Expense	39.86M	34.09M	45.81M	38.68M	26.97M
Earnings From Continuing Operations	159M	133M	175M	150M	103M
Net Income to Company	159M	133M	175M	150M	103M
Minority Interest	-1.89M	-442K	217K	-1.87M	-1.23M
Net Income - (IS)	157M	133M	175M	148M	102M
Net Income to Common Incl Extra Items	157M	133M	175M	148M	102M
Net Income to Common Excl. Extra Items	157M	133M	175M	148M	102M
Per Share Items
Net EPS - Basic	0.35	0.24	0.28	0.22	0.15
Basic EPS - Continuing Operations	0.35	0.24	0.28	0.22	0.15
Basic Weighted Average Shares Outstanding	450M	554M	631M	672M	672M
Net EPS - Diluted	0.34	0.22	0.28	0.22	0.15
Diluted EPS - Continuing Operations	0.34	0.22	0.28	0.22	0.15
Diluted Weighted Average Shares Outstanding	466M	598M	631M	672M	672M
Normalized Basic EPS	0.27	0.19	0.22	0.17	0.12
Normalized Diluted EPS	0.26	0.17	0.22	0.17	0.12
Dividend Per Share	0.3	0.2	0.23	0.2	0.15
Payout Ratio	51.6	114.51	89.29	81.58	105.45
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	204M	173M	319M	345M	287M
EBITA	202M	170M	224M	192M	133M
EBIT	200M	168M	222M	190M	131M
EBITDAR	205M	174M	321M	-	289M
Total Revenues (As Reported)	1.76B	1.44B	1.86B	1.43B	1.11B
Effective Tax Rate - (Ratio)	20.06	20.4	20.76	20.48	20.72
Current Domestic Taxes	42.84M	35.83M	46.46M	-	28.75M
Total Current Taxes	42.84M	35.83M	46.46M	41.2M	28.75M
Deferred Domestic Taxes	-2.98M	-1.74M	-646K	-	-1.78M
Total Deferred Taxes	-2.98M	-1.74M	-646K	-3.16M	-1.78M
Normalized Net Income	122M	104M	138M	116M	80.13M
Interest on Long-Term Debt	832K	868K	877K	-	362K
Non-Cash Pension Expense	197K	340K	434K	482K	580K
Supplemental Operating Expense Items
Selling and Marketing Expenses	39.05M	32.13M	35.86M	31.25M	25.01M
General and Administrative Expenses	53.93M	54.9M	60.12M	61M	70.55M
Net Rental Expense, Total	609K	1.2M	1.86M	-	1.5M
Imputed Operating Lease Interest Expense	24.92K	70.56K	113K	-	36.88K
Imputed Operating Lease Depreciation	584K	1.13M	1.75M	-	1.46M

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Assets
Cash And Equivalents	126M	127M	175M	341M	113M
Short Term Investments	1.59M	1.4M	1.46M	1.75M	1.33M
Total Cash And Short Term Investments	128M	128M	176M	342M	114M
Accounts Receivable, Total	524M	973M	1.12B	751M	868M
Other Receivables	19.78M	22.35M	99K	70K	13.52M
Total Receivables	544M	995M	1.12B	751M	882M
Inventory	82.8M	61.74M	34.6M	27.66M	608M
Other Current Assets, Total	19.41M	15.52M	22.23M	22.49M	65.7M
Total Current Assets	774M	1.2B	1.35B	1.14B	1.67B
Gross Property Plant And Equipment	48.36M	51.81M	657M	522M	370M
Accumulated Depreciation	-21.22M	-26.82M	-30.5M	-34.99M	-41.13M
Net Property Plant And Equipment	27.14M	25M	627M	487M	329M
Long-term Investments	-	-	-	44.4M	36M
Goodwill	14.4M	14.4M	14.4M	14.4M	14.4M
Other Intangibles, Total	8.66M	6.47M	4.35M	2.24M	157K
Accounts Receivable Long-Term	112M	20.41M	31.23M	42.41M	11.39M
Deferred Tax Assets Long-Term	3.06M	4.04M	4.69M	9.78M	13.24M
Other Long-Term Assets, Total	102M	92.63M	79.81M	56.64M	60.28M
Total Assets	1.04B	1.36B	2.12B	1.8B	2.13B
Liabilities
Accounts Payable, Total	72.86M	207M	365M	375M	771M
Accrued Expenses, Total	17.02M	14.67M	25.18M	9.94M	12.92M
Short-term Borrowings	30.97M	24.74M	16.32M	-	281M
Current Portion of Long-Term Debt	10.19M	11.11M	11.11M	31.11M	10M
Current Portion of Leases	4M	4.4M	4.77M	6.02M	3.84M
Current Income Taxes Payable	-	5.86M	2.13M	8.57M	-
Unearned Revenue Current, Total	17.96M	20.91M	298M	237M	23.03M
Other Current Liabilities	80.31M	120M	192M	120M	88.64M
Total Current Liabilities	233M	409M	915M	787M	1.19B
Long-Term Debt	79.81M	68.7M	125M	16.48M	-
Long-Term Leases	16.75M	16.47M	13.43M	5.52M	1.68M
Unearned Revenue Non Current	19.31M	26.3M	57.48M	21.36M	12.52M
Pension & Other Post Retirement Benefits	20.04M	19.69M	23.44M	25.98M	24.34M
Deferred Tax Liability Non Current	-	-	-	-	-
Other Non Current Liabilities	-	-	86.04M	29.01M	-
Total Liabilities	369M	540M	1.22B	886M	1.23B
Common Stock, Total	225M	309M	336M	336M	336M
Additional Paid In Capital	155M	239M	266M	266M	266M
Retained Earnings	268M	252M	270M	299M	294M
Comprehensive Income and Other	-	-	-	-11.78M	-18.5M
Total Common Equity	648M	800M	873M	890M	877M
Minority Interest	24.7M	23.67M	23.46M	25.32M	26.56M
Total Equity	673M	823M	896M	915M	904M
Total Liabilities And Equity	1.04B	1.36B	2.12B	1.8B	2.13B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	450M	618M	672M	672M	672M
ECS Total Common Shares Outstanding	450M	618M	672M	672M	672M
Book Value / Share	1.44	1.29	1.3	1.32	1.31
Tangible Book Value	625M	779M	854M	873M	863M
Tangible Book Value Per Share	1.39	1.26	1.27	1.3	1.28
Total Debt	142M	125M	170M	59.13M	297M
Net Debt	13.91M	-3.04M	-5.64M	-283M	183M
Debt Equivalent Oper. Leases	4.87M	9.59M	14.9M	-	11.99M
Minority Interest, Total (Incl. Fin. Div)	24.7M	23.67M	23.46M	25.32M	26.56M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Work In Process, Total	2.54M	-	-	-	136M
Inventories - Others	64.78M	27.05M	11.05M	4.32M	411M
Machinery, Total	19.6M	19.28M	19.27M	19.84M	24.36M
Full Time Employees	-	-	-	-	-
Part Time Employees	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Net Income	157M	133M	175M	148M	102M
Depreciation & Amortization - CF	7.01M	7.64M	100M	157M	159M
Amortization of Goodwill and Intangible Assets - (CF)	2.35M	2.28M	2.12M	2.12M	2.13M
Depreciation & Amortization, Total	9.36M	9.93M	103M	160M	161M
Asset Writedown & Restructuring Costs	17.12K	-148K	23.61K	602K	5.26K
Provision and Write-off of Bad Debts	-	-	-	-	-
Other Operating Activities, Total	-16.19M	11.02M	-2.38M	25.27M	-5.6M
Change In Accounts Receivable	125M	-359M	-158M	359M	-99.64M
Change In Inventories	81.35M	21.07M	27.14M	6.94M	-599M
Change In Accounts Payable	-342M	130M	40.59M	-62.15M	371M
Change in Unearned Revenues	-118M	9.93M	309M	-97.75M	-223M
Change in Other Net Operating Assets	28.9M	42.18M	78.02M	-64.73M	-64.89M
Cash from Operations	-74.78M	-2.14M	571M	476M	-357M
Capital Expenditure	-4.69M	-813K	-502M	-19.47M	-822K
Sale of Property, Plant, and Equipment	13.19K	288K	4.5K	1.17M	3.7K
Cash Acquisitions	-	-	-	-	-
Sale (Purchase) of Intangible assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	3.99M	196K	-61.59K	-59.42M	422K
Other Investing Activities, Total	65.61M	10.45M	38.89M	1.34M	388K
Cash from Investing	64.92M	10.12M	-463M	-76.37M	-9.27K
Short Term Debt Issued, Total	-	-	-	-	281M
Long-Term Debt Issued, Total	120M	-	67.13M	-	30M
Total Debt Issued	120M	-	67.13M	-	311M
Short Term Debt Repaid, Total	-170M	-6.23M	-8.41M	-16.32M	-
Long-Term Debt Repaid, Total	-34.19M	-14.59M	-15.77M	-94.9M	-73.61M
Total Debt Repaid	-205M	-20.82M	-24.18M	-111M	-73.61M
Issuance of Common Stock	-	168M	54.18M	-	-
Common Dividends Paid	-81M	-152M	-156M	-121M	-108M
Common & Preferred Stock Dividends Paid	-81M	-152M	-156M	-121M	-108M
Other Financing Activities, Total	-910K	-2.46M	-1.12M	-963K	-548K
Cash from Financing	-166M	-7.14M	-60.29M	-233M	130M
Net Change in Cash	-176M	849K	47.47M	166M	-228M
Supplemental Items
Cash Interest Paid	910K	993K	1.12M	963K	548K
Cash Income Tax Paid (Refund)	65.51M	31.37M	51.48M	37.16M	39.29M
Levered Free Cash Flow	-140M	-132M	125M	503M	-366M
Unlevered Free Cash Flow	-139M	-131M	126M	504M	-366M
Change In Net Working Capital	269M	245M	-387M	-245M	608M
Net Debt Issued / Repaid	-84.57M	-20.82M	42.95M	-111M	238M

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Profitability
Return on Assets	9.92	8.73	7.97	6.06	4.15
Return on Total Capital	15.36	11.91	13.76	11.63	7.51
Return On Equity %	25.03	17.78	20.34	16.58	11.35
Return on Common Equity	25.7	18.31	20.93	16.83	11.54
Margin Analysis
Gross Profit Margin %	16.59	17.67	17.08	19.79	20.35
SG&A Margin	5.27	6.03	5.16	6.47	8.59
EBITDA Margin %	11.58	11.98	17.16	24.17	25.82
EBITA Margin %	11.45	11.8	12.04	13.46	11.94
EBIT Margin %	11.32	11.64	11.92	13.31	11.75
Income From Continuing Operations Margin %	9	9.21	9.4	10.53	9.28
Net Income Margin %	8.9	9.18	9.41	10.4	9.17
Net Avail. For Common Margin %	8.9	9.18	9.41	10.4	9.17
Normalized Net Income Margin	6.93	7.2	7.42	8.15	7.2
Levered Free Cash Flow Margin	-7.92	-9.12	6.71	35.28	-32.95
Unlevered Free Cash Flow Margin	-7.89	-9.08	6.75	35.32	-32.92
Asset Turnover
Asset Turnover	1.4	1.2	1.07	0.73	0.57
Fixed Assets Turnover	79.65	55.39	5.71	2.56	2.73
Receivables Turnover (Average Receivables)	3.05	1.93	1.77	1.52	1.37
Inventory Turnover (Average Inventory)	11.94	16.45	32.02	36.74	2.79
Short Term Liquidity
Current Ratio	3.32	2.93	1.48	1.45	1.4
Quick Ratio	2.88	2.75	1.42	1.39	0.84
Operating Cash Flow to Current Liabilities	-0.32	-0.01	0.62	0.6	-0.3
Days Sales Outstanding (Average Receivables)	119.56	189.32	205.67	240.87	266.32
Days Outstanding Inventory (Average Inventory)	30.56	22.19	11.4	9.96	130.89
Average Days Payable Outstanding	63.25	43.74	68.85	119.05	142.68
Cash Conversion Cycle (Average Days)	86.87	167.77	148.23	131.78	254.52
Long Term Solvency
Total Debt/Equity	21.07	15.23	19.01	6.46	32.84
Total Debt / Total Capital	17.4	13.22	15.97	6.07	24.72
LT Debt/Equity	14.36	10.34	15.42	2.4	0.19
Long-Term Debt / Total Capital	11.86	8.98	12.95	2.26	0.14
Total Liabilities / Total Assets	35.44	39.62	57.66	49.19	57.63
EBIT / Interest Expense	219.46	171.03	198.26	197.15	238.77
EBITDA / Interest Expense	229.75	181.13	289.99	362.86	533.11
(EBITDA - Capex) / Interest Expense	224.59	180.31	-159.03	342.64	531.61
Total Debt / EBITDA	0.68	0.7	0.53	0.17	1.02
Net Debt / EBITDA	0.07	-0.02	-0.02	-0.81	0.63
Total Debt / (EBITDA - Capex)	0.69	0.71	-0.96	0.18	1.02
Net Debt / (EBITDA - Capex)	0.07	-0.02	0.03	-0.86	0.63
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	19.95	-18.16	28.83	-23.36	-21.98
Gross Profit, 1 Yr. Growth %	29.89	-12.82	24.56	-11.23	-19.77
EBITDA, 1 Yr. Growth %	39.61	-15.34	84.48	7.94	-16.63
EBITA, 1 Yr. Growth %	39.64	-15.67	31.43	-14.27	-30.78
EBIT, 1 Yr. Growth %	40.33	-15.82	31.95	-14.41	-31.13
Earnings From Cont. Operations, 1 Yr. Growth %	40.1	-16.29	31.46	-14.11	-31.27
Net Income, 1 Yr. Growth %	40.59	-15.56	32.07	-15.28	-31.24
Normalized Net Income, 1 Yr. Growth %	40.44	-14.99	32.83	-15.9	-31.02
Diluted EPS Before Extra, 1 Yr. Growth %	37.03	-35.29	26.14	-20.49	-31.24
Accounts Receivable, 1 Yr. Growth %	-16.8	85.52	15.33	-33.04	15.59
Inventory, 1 Yr. Growth %	-49.39	-25.44	-43.96	-20.07	2.1K
Net Property, Plant and Equip., 1 Yr. Growth %	58.12	-7.88	2.41K	-22.29	-32.48
Total Assets, 1 Yr. Growth %	-29.24	30.88	55.18	-14.9	18.49
Tangible Book Value, 1 Yr. Growth %	13.97	24.63	9.64	2.24	-1.17
Common Equity, 1 Yr. Growth %	12.95	23.41	9.12	1.96	-1.38
Cash From Operations, 1 Yr. Growth %	-193.32	-97.14	-26.85K	-16.75	-175.18
Capital Expenditures, 1 Yr. Growth %	754.96	-82.67	61.67K	-96.12	-95.78
Levered Free Cash Flow, 1 Yr. Growth %	-174.5	-5.73	-212.6	302.68	-172.86
Unlevered Free Cash Flow, 1 Yr. Growth %	-174.16	-5.78	-213.86	300.92	-172.7
Dividend Per Share, 1 Yr. Growth %	66.67	-33.33	15	-13.04	-25
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	21.19	-0.92	2.68	-0.63	-22.68
Gross Profit, 2 Yr. CAGR %	23.21	6.41	4.21	5.15	-15.61
EBITDA, 2 Yr. CAGR %	28.92	8.72	24.98	41.12	-5.14
EBITA, 2 Yr. CAGR %	29.41	8.52	5.28	6.15	-22.97
EBIT, 2 Yr. CAGR %	29.86	8.69	5.4	6.27	-23.22
Earnings From Cont. Operations, 2 Yr. CAGR %	29.8	8.29	4.91	6.26	-23.17
Net Income, 2 Yr. CAGR %	29.45	8.95	5.6	5.78	-23.67
Normalized Net Income, 2 Yr. CAGR %	29.11	9.27	6.26	5.69	-23.83
Diluted EPS Before Extra, 2 Yr. CAGR %	27.8	-5.84	-9.66	0.15	-26.06
Accounts Receivable, 2 Yr. CAGR %	-5.28	24.24	46.28	-12.12	-12.02
Inventory, 2 Yr. CAGR %	-31.17	-38.57	-35.36	-33.07	319.09
Net Property, Plant and Equip., 2 Yr. CAGR %	102.29	20.69	380.67	341.49	-27.56
Total Assets, 2 Yr. CAGR %	-7.1	-3.77	42.52	14.91	0.41
Tangible Book Value, 2 Yr. CAGR %	9.17	19.18	16.89	5.88	0.52
Common Equity, 2 Yr. CAGR %	8.34	18.07	16.05	5.48	0.27
Cash From Operations, 2 Yr. CAGR %	-23.62	-83.68	176.37	1.39K	-20.89
Capital Expenditures, 2 Yr. CAGR %	98.65	21.73	934.7	389.31	-95.95
Levered Free Cash Flow, 2 Yr. CAGR %	-2.01	-16.2	-5.45	112.93	71.28
Unlevered Free Cash Flow, 2 Yr. CAGR %	-2.21	-16.41	-4.99	113.65	70.72
Dividend Per Share, 2 Yr. CAGR %	41.42	5.41	-12.44	0	-19.24
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	20.12	6.32	8.14	-6.86	-8.33
Gross Profit, 3 Yr. CAGR %	19.02	9.79	12.15	-1.22	-3.92
EBITDA, 3 Yr. CAGR %	22.98	12.06	29.68	19.02	18.41
EBITA, 3 Yr. CAGR %	23.22	12.2	15.67	-1.69	-7.95
EBIT, 3 Yr. CAGR %	22.77	12.39	15.95	-1.67	-8.03
Earnings From Cont. Operations, 3 Yr. CAGR %	23.28	12.15	15.52	-1.86	-8.1
Net Income, 3 Yr. CAGR %	22.79	12.27	16.17	-1.88	-8.37
Normalized Net Income, 3 Yr. CAGR %	21.97	12.32	16.61	-1.71	-8.32
Diluted EPS Before Extra, 3 Yr. CAGR %	21.75	1.86	3.8	-13.42	-11.65
Accounts Receivable, 3 Yr. CAGR %	17.64	18.51	21.2	12.73	-3.71
Inventory, 3 Yr. CAGR %	12.65	-29.31	-40.42	-30.62	114.31
Net Property, Plant and Equip., 3 Yr. CAGR %	49.97	55.63	231.81	161.86	136.1
Total Assets, 3 Yr. CAGR %	6.85	4.15	12.85	20.01	16.09
Tangible Book Value, 3 Yr. CAGR %	6.4	14.09	15.91	11.79	3.47
Common Equity, 3 Yr. CAGR %	7.68	13.15	15	11.15	3.14
Cash From Operations, 3 Yr. CAGR %	-28.35	-74.46	92.45	85.27	451.17
Capital Expenditures, 3 Yr. CAGR %	1.01	-11.89	870.94	60.7	0.38
Levered Free Cash Flow, 3 Yr. CAGR %	-8.01	-3.27	-12.67	53.26	48.93
Unlevered Free Cash Flow, 3 Yr. CAGR %	-8.14	-3.42	-12.52	53.53	49.16
Dividend Per Share, 3 Yr. CAGR %	28.92	10.06	8.51	-12.64	-9.14
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	25.31	8.54	12.82	3.48	-5.44
Gross Profit, 5 Yr. CAGR %	27.5	11.67	12.86	7.91	0.09
EBITDA, 5 Yr. CAGR %	40.16	14.73	23.78	22.88	14.43
EBITA, 5 Yr. CAGR %	41.07	14.74	15.71	9.74	-1.69
EBIT, 5 Yr. CAGR %	40.74	14.43	15.5	9.9	-1.68
Earnings From Cont. Operations, 5 Yr. CAGR %	42.42	14.98	15.57	9.75	-1.86
Net Income, 5 Yr. CAGR %	42.08	14.9	15.6	9.62	-1.8
Normalized Net Income, 5 Yr. CAGR %	40.35	14.21	15.43	9.62	-1.65
Diluted EPS Before Extra, 5 Yr. CAGR %	23.6	2.2	8.05	1.17	-9.37
Accounts Receivable, 5 Yr. CAGR %	8.02	16.6	28.35	5.15	6.62
Inventory, 5 Yr. CAGR %	72.21	-18.08	-9.79	-30.84	30.01
Net Property, Plant and Equip., 5 Yr. CAGR %	53.18	36.68	138.97	136.17	80.52
Total Assets, 5 Yr. CAGR %	16.77	7.02	19.89	8.33	7.7
Tangible Book Value, 5 Yr. CAGR %	30.52	9.43	10.48	10.73	9.49
Common Equity, 5 Yr. CAGR %	31.45	10.01	10.95	10.02	8.87
Cash From Operations, 5 Yr. CAGR %	49.18	-33.89	22.95	29.98	34.86
Capital Expenditures, 5 Yr. CAGR %	109.1	-12.42	156.18	74.92	8.43
Levered Free Cash Flow, 5 Yr. CAGR %	52.56	104.09	-6.99	28.15	14.34
Unlevered Free Cash Flow, 5 Yr. CAGR %	52.69	104.3	-6.89	28.18	14.3
Dividend Per Share, 5 Yr. CAGR %	-	17.32	10.44	5.92	-3.58