Income Statement Millionaire Property Fund

Stocks

MIPF

TH0827010008

Closed End Funds

End-of-day quote Thailand S.E. 2026-09-11			5-day change	1st Jan Change
9.400 ^THB	+6.82%		-1.05%	+5.62%

08-19	Millionaire Property Fund Announces Dividend for the Operation Period from January 1, 2026 to June 30, 2026, Payable on September 17, 20256	CI
08-16	Millionaire Property Fund Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI

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Published financial data: MILLIONAIRE PROPERTY FUND

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Rental Revenues	226M	230M	233M	233M	235M
Interest and Investment Income, Total (Revenue Block)	1.14M	1.37M	4.27M	6.09M	4.14M
Other Revenues, Total	6.37M	9.51M	5.64M	3.3M	4.76M
Total Revenues	234M	241M	243M	242M	244M
Property Expenses	111M	106M	106M	106M	101M
Selling General & Admin Expenses, Total	2.38M	2.41M	2.25M	2.22M	2.26M
Provision for Bad Debts	-	-	-	-	-
Total Operating Expenses	114M	109M	108M	109M	103M
Operating Income (REIT / Utility Template)	120M	132M	134M	134M	141M
Other Non Operating Income (Expenses)	-	-	-	-	-
EBT, Excl. Unusual Items	120M	132M	134M	134M	141M
Gain (Loss) on Sale of Investments	-70.04M	-12.99M	-45.02M	-28.97M	-40.01M
EBT, Incl. Unusual Items	49.72M	119M	89.31M	105M	101M
Income Tax Expense	3.13K	14.17K	29.9K	40.79K	15.22K
Earnings From Continuing Operations	49.72M	119M	89.28M	105M	101M
Net Income to Company	49.72M	119M	89.28M	105M	101M
Net Income - (IS)	49.72M	119M	89.28M	105M	101M
Net Income to Common Incl Extra Items	49.72M	119M	89.28M	105M	101M
Net Income to Common Excl. Extra Items	49.72M	119M	89.28M	105M	101M
Per Share Items
Net EPS - Basic	0.26	0.63	0.47	0.55	0.53
Basic EPS - Continuing Operations	0.26	0.63	0.47	0.55	0.53
Basic Weighted Average Shares Outstanding	190M	190M	190M	190M	190M
Net EPS - Diluted	0.26	0.63	0.47	0.55	0.53
Diluted EPS - Continuing Operations	0.26	0.63	0.47	0.55	0.53
Diluted Weighted Average Shares Outstanding	190M	190M	190M	190M	190M
Normalized Basic EPS	0.39	0.43	0.44	0.44	0.46
Normalized Diluted EPS	0.39	0.43	0.44	0.44	0.46
Dividend Per Share	0.61	0.76	0.7	0.7	0.73
Payout Ratio	298.06	110.17	146.84	119.52	135
Supplemental Items
EBITA	120M	132M	134M	134M	141M
EBIT	120M	132M	134M	134M	141M
Total Revenues (As Reported)	234M	241M	243M	242M	244M
Effective Tax Rate - (Ratio)	0.01	0.01	0.03	0.04	0.02
Normalized Net Income	74.85M	82.5M	83.96M	83.71M	88.35M
Supplemental Operating Expense Items
General and Administrative Expenses	2.05M	2.06M	2.02M	1.99M	2.02M

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Assets
Net Property Plant And Equipment	2.17B	2.15B	2.11B	2.08B	2.04B
Total Real Estate Assets	2.17B	2.15B	2.11B	2.08B	2.04B
Cash And Equivalents	30.61M	26.05M	25.55M	31.84M	25.39M
Accounts Receivable, Total	19.9M	7.25M	6.78M	6.24M	6.97M
Other Receivables	1.65K	4.81K	66.77K	10.45K	5.71K
Investment In Debt and Equity Securities	-	-	-	-	-
Other Current Assets, Total	8.74M	8.58M	8.58M	8.59M	8.72M
Trading Asset Securities, Total	248M	263M	264M	268M	279M
Other Long-Term Assets, Total	3.1M	541K	390K	397K	466K
Total Assets	2.48B	2.46B	2.41B	2.39B	2.36B
Liabilities
Accrued Expenses, Total	7.59M	7.74M	7.27M	7.46M	7.14M
Current Income Taxes Payable	247	722	10.02K	1.57K	856
Unearned Revenue Non Current	470K	1.2M	1.12M	598K	866K
Other Non Current Liabilities	52.27M	45.55M	43.49M	44.39M	45.18M
Total Liabilities	60.33M	54.49M	51.9M	52.45M	53.18M
Common Stock, Total	1.9B	1.9B	1.9B	1.9B	1.9B
Retained Earnings	517M	505M	463M	442M	407M
Total Common Equity	2.42B	2.4B	2.36B	2.34B	2.31B
Total Equity	2.42B	2.4B	2.36B	2.34B	2.31B
Total Liabilities And Equity	2.48B	2.46B	2.41B	2.39B	2.36B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	190M	190M	190M	190M	190M
ECS Total Common Shares Outstanding	190M	190M	190M	190M	190M
Book Value / Share	12.72	12.66	12.44	12.33	12.14
Tangible Book Value	2.42B	2.4B	2.36B	2.34B	2.31B
Tangible Book Value Per Share	12.72	12.66	12.44	12.33	12.14
Total Debt	0	0	0	0	0
Net Debt	-278M	-289M	-290M	-300M	-304M
Account Code - Inventory Valuation	3	-	-	3	3
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Net Income	49.72M	119M	89.28M	105M	101M
(Gain) Loss on Sale of Investments - (CF)	70.04M	12.99M	45.02M	28.97M	40.01M
Provision and Write-off of Bad Debts	-	-	-	-	-
Change in Accounts Receivable	-4.15M	12.65M	414K	596K	-725K
Change in Unearned Revenues	-47.27K	733K	-80.2K	-524K	268K
Change In Income Taxes	-150	475	9.29K	-8.45K	-711
Change in Other Net Operating Assets (Collected)	-6.05M	-3.85M	-2.37M	1.06M	271K
Other Operating Activities	40.03M	-14.97M	-1.68M	-3.32M	-10.8M
Cash from Operations	150M	127M	131M	132M	130M
Common Dividends Paid	-148M	-131M	-131M	-125M	-137M
Common & Preferred Stock Dividends Paid	-148M	-131M	-131M	-125M	-137M
Cash from Financing	-148M	-131M	-131M	-125M	-137M
Net Change in Cash	1.34M	-4.56M	-502K	6.29M	-6.45M
Supplemental Items
Levered Free Cash Flow	69.27M	95.46M	83.91M	84.47M	87.16M
Unlevered Free Cash Flow	69.27M	95.46M	83.91M	84.47M	87.16M
Change In Net Working Capital	5.59M	-12.96M	47.33K	-765K	1.18M

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Profitability
Return on Assets	2.96	3.34	3.45	3.48	3.72
Return on Total Capital	3.04	3.42	3.52	3.56	3.8
Return On Equity %	2.02	4.94	3.75	4.46	4.36
Return on Common Equity	2.02	4.94	3.75	4.46	4.36
Margin Analysis
Gross Profit Margin %	52.3	55.8	56.31	56.15	58.8
SG&A Margin	1.02	1	0.93	0.92	0.92
EBITA Margin %	51.28	54.8	55.38	55.23	57.88
EBIT Margin %	51.28	54.8	55.38	55.23	57.88
Income From Continuing Operations Margin %	21.29	49.4	36.81	43.27	41.49
Net Income Margin %	21.29	49.4	36.81	43.27	41.49
Net Avail. For Common Margin %	21.29	49.4	36.81	43.27	41.49
Normalized Net Income Margin	32.05	34.25	34.61	34.52	36.17
Levered Free Cash Flow Margin	29.66	39.63	34.59	34.84	35.69
Unlevered Free Cash Flow Margin	29.66	39.63	34.59	34.84	35.69
Asset Turnover
Asset Turnover	0.09	0.1	0.1	0.1	0.1
Fixed Assets Turnover	0.11	0.11	0.11	0.12	0.12
Receivables Turnover (Average Receivables)	12.68	16.94	33.16	35.82	35.64
Short Term Liquidity
Current Ratio	40.45	39.36	41.94	42.13	44.79
Quick Ratio	39.3	38.25	40.76	40.98	43.56
Operating Cash Flow to Current Liabilities	19.7	16.35	17.94	17.65	18.27
Days Sales Outstanding (Average Receivables)	28.79	21.55	11.01	10.22	10.24
Long Term Solvency
Total Liabilities / Total Assets	2.44	2.22	2.15	2.19	2.25
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-17.8	3.13	0.7	-0.03	0.72
Gross Profit, 1 Yr. Growth %	-32.51	10.04	1.62	-0.31	5.48
EBITA, 1 Yr. Growth %	-32.92	10.21	1.77	-0.3	5.54
EBIT, 1 Yr. Growth %	-32.92	10.21	1.77	-0.3	5.54
Earnings From Cont. Operations, 1 Yr. Growth %	-70.32	139.32	-24.97	17.52	-3.42
Net Income, 1 Yr. Growth %	-70.32	139.32	-24.97	17.52	-3.42
Diluted EPS Before Extra, 1 Yr. Growth %	-70.32	139.32	-24.97	17.52	-3.42
Normalized Net Income, 1 Yr. Growth %	-32.92	10.21	1.77	-0.3	5.54
Net Property, Plant and Equip., 1 Yr. Growth %	-3.13	-0.6	-2.09	-1.38	-1.92
Accounts Receivable, 1 Yr. Growth %	26.33	-63.56	-6.56	-7.97	11.7
Total Assets, 1 Yr. Growth %	-4.07	-0.72	-1.81	-0.83	-1.45
Common Equity, 1 Yr. Growth %	-3.92	-0.5	-1.74	-0.87	-1.51
Tangible Book Value, 1 Yr. Growth %	-3.92	-0.5	-1.74	-0.87	-1.51
Cash From Operations, 1 Yr. Growth %	-5.87	-15.38	3.2	0.84	-1.02
Levered Free Cash Flow, 1 Yr. Growth %	-35.45	37.82	-12.1	0.67	3.19
Unlevered Free Cash Flow, 1 Yr. Growth %	-35.45	37.82	-12.1	0.67	3.19
Dividend Per Share, 1 Yr. Growth %	-27.38	24.59	-7.89	0	4.29
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-13.88	-7.93	1.91	0.34	0.34
Gross Profit, 2 Yr. CAGR %	-15.7	-13.82	5.75	0.65	2.54
EBITA, 2 Yr. CAGR %	-15.96	-14.02	5.91	0.73	2.58
EBIT, 2 Yr. CAGR %	-15.96	-14.02	5.91	0.73	2.58
Earnings From Cont. Operations, 2 Yr. CAGR %	-41.15	-15.73	34	-6.1	6.54
Net Income, 2 Yr. CAGR %	-41.15	-15.73	34	-6.1	6.54
Diluted EPS Before Extra, 2 Yr. CAGR %	-41.15	-15.73	34	-6.1	6.54
Normalized Net Income, 2 Yr. CAGR %	-15.96	-14.02	5.91	0.73	2.58
Net Property, Plant and Equip., 2 Yr. CAGR %	-1.82	-1.87	-1.35	-1.73	-1.65
Accounts Receivable, 2 Yr. CAGR %	28.55	-32.15	-41.65	-7.27	1.39
Total Assets, 2 Yr. CAGR %	-2	-2.41	-1.27	-1.32	-1.14
Common Equity, 2 Yr. CAGR %	-1.82	-2.22	-1.12	-1.3	-1.19
Tangible Book Value, 2 Yr. CAGR %	-1.82	-2.22	-1.12	-1.3	-1.19
Cash From Operations, 2 Yr. CAGR %	-6.33	-10.75	-6.55	2.01	-0.1
Levered Free Cash Flow, 2 Yr. CAGR %	-51.83	-5.68	10.07	-5.93	1.92
Unlevered Free Cash Flow, 2 Yr. CAGR %	-51.83	-5.68	10.07	-5.93	1.92
Dividend Per Share, 2 Yr. CAGR %	-14.78	-4.88	7.12	-4.03	2.12
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-11.07	-8.55	-5.14	1.26	0.46
Gross Profit, 3 Yr. CAGR %	-14.73	-7.87	-8.95	3.69	2.23
EBITA, 3 Yr. CAGR %	-14.9	-8.01	-9.05	3.8	2.31
EBIT, 3 Yr. CAGR %	-14.9	-8.01	-9.05	3.8	2.31
Earnings From Cont. Operations, 3 Yr. CAGR %	-37.57	-6.07	-18.93	28.27	-5.22
Net Income, 3 Yr. CAGR %	-37.57	-6.07	-18.93	28.27	-5.22
Diluted EPS Before Extra, 3 Yr. CAGR %	-37.57	-6.07	-18.93	28.27	-5.22
Normalized Net Income, 3 Yr. CAGR %	-14.9	-8.01	-9.05	3.8	2.31
Net Property, Plant and Equip., 3 Yr. CAGR %	-1.59	-1.41	-1.94	-1.36	-1.8
Accounts Receivable, 3 Yr. CAGR %	43.71	-15.55	-24.51	-32.08	-1.33
Total Assets, 3 Yr. CAGR %	-1.61	-1.57	-2.21	-1.12	-1.36
Common Equity, 3 Yr. CAGR %	-1.5	-1.38	-2.06	-1.04	-1.37
Tangible Book Value, 3 Yr. CAGR %	-1.5	-1.38	-2.06	-1.04	-1.37
Cash From Operations, 3 Yr. CAGR %	-10.24	-9.45	-6.32	-4.15	0.99
Levered Free Cash Flow, 3 Yr. CAGR %	-17.47	-31.62	-7.87	6.84	-2.98
Unlevered Free Cash Flow, 3 Yr. CAGR %	-17.47	-31.62	-7.87	6.84	-2.98
Dividend Per Share, 3 Yr. CAGR %	-15.19	-3.28	-5.9	4.69	-1.33
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-7.82	-6.83	-6.09	-5.09	-2.98
Gross Profit, 5 Yr. CAGR %	-11.45	-8.75	-7.06	-4.55	-4.52
EBITA, 5 Yr. CAGR %	-11.62	-8.88	-7.12	-4.61	-4.56
EBIT, 5 Yr. CAGR %	-11.62	-8.88	-7.12	-4.61	-4.56
Earnings From Cont. Operations, 5 Yr. CAGR %	-26.13	-11.66	-15.26	-6.08	-9.57
Net Income, 5 Yr. CAGR %	-26.13	-11.66	-15.26	-6.08	-9.57
Diluted EPS Before Extra, 5 Yr. CAGR %	-26.13	-11.66	-15.26	-6.08	-9.57
Normalized Net Income, 5 Yr. CAGR %	-11.62	-8.88	-7.12	-4.61	-4.56
Net Property, Plant and Equip., 5 Yr. CAGR %	-0.78	-0.99	-1.5	-1.54	-1.83
Accounts Receivable, 5 Yr. CAGR %	17.78	-2.75	0.21	-12.33	-15.06
Total Assets, 5 Yr. CAGR %	-0.96	-1.15	-1.47	-1.47	-1.78
Common Equity, 5 Yr. CAGR %	-0.89	-1.04	-1.35	-1.35	-1.71
Tangible Book Value, 5 Yr. CAGR %	-0.89	-1.04	-1.35	-1.35	-1.71
Cash From Operations, 5 Yr. CAGR %	-6.99	-9.24	-8.78	-5.03	-3.88
Levered Free Cash Flow, 5 Yr. CAGR %	-12.87	-6.13	-7.39	-22.31	-4.07
Unlevered Free Cash Flow, 5 Yr. CAGR %	-12.87	-6.13	-7.39	-22.31	-4.07
Dividend Per Share, 5 Yr. CAGR %	-12.06	-7.13	-6.88	-3.58	-2.77