Cash flow North East Rubbers OTC Markets

Stocks

NERXF

TH8798010R19

Tires & Rubber Products

Market Closed - OTC Markets			5-day change	1st Jan Change
- ^USD	-.--%		-.--%	-

08-06	Krungsri Securities Upgrades North East Rubber to Buy from Neutral; Price Target is THB5.30	MT
08-05	North East Rubber Public Company Limited Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI

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Published financial data: NORTH EAST RUBBERS

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	24.43B	25.17B	25.05B	27.45B	30.24B
Other Revenues, Total	6.58M	36.17M	20.54M	19.22M	19.43M
Total Revenues	24.43B	25.21B	25.07B	27.47B	30.26B
Cost of Goods Sold, Total	21.19B	22.12B	22.23B	24.67B	27.31B
Gross Profit	3.24B	3.09B	2.83B	2.8B	2.95B
Selling General & Admin Expenses, Total	828M	766M	719M	601M	704M
Other Operating Expenses, Total	828M	766M	719M	601M	704M
Operating Income	2.41B	2.33B	2.12B	2.2B	2.24B
Interest Expense, Total	-331M	-421M	-440M	-469M	-548M
Interest And Investment Income	-	-	-	-	-
Net Interest Expenses	-331M	-421M	-440M	-469M	-548M
Currency Exchange Gains (Loss)	-217M	-103M	-45.42M	28.6M	79.43M
Other Non Operating Income (Expenses)	-3.27M	-	-	-49.53M	43.82M
EBT, Excl. Unusual Items	1.86B	1.8B	1.63B	1.71B	1.82B
Insurance Settlements	24.05M	-	-	-	127M
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	1.89B	1.8B	1.63B	1.71B	1.94B
Income Tax Expense	36.33M	53.85M	84.39M	55.3M	60.14M
Earnings From Continuing Operations	1.85B	1.75B	1.55B	1.65B	1.88B
Net Income to Company	1.85B	1.75B	1.55B	1.65B	1.88B
Net Income - (IS)	1.85B	1.75B	1.55B	1.65B	1.88B
Net Income to Common Incl Extra Items	1.85B	1.75B	1.55B	1.65B	1.88B
Net Income to Common Excl. Extra Items	1.85B	1.75B	1.55B	1.65B	1.88B
Per Share Items
Net EPS - Basic	1.13	0.96	0.84	0.89	1.02
Basic EPS - Continuing Operations	1.13	0.96	0.84	0.89	1.02
Basic Weighted Average Shares Outstanding	1.64B	1.81B	1.85B	1.85B	1.85B
Net EPS - Diluted	1.09	0.95	0.84	0.89	1.02
Diluted EPS - Continuing Operations	1.09	0.95	0.84	0.89	1.02
Diluted Weighted Average Shares Outstanding	1.7B	1.84B	1.85B	1.85B	1.85B
Normalized Basic EPS	0.71	0.62	0.55	0.58	0.61
Normalized Diluted EPS	0.68	0.61	0.55	0.58	0.61
Dividend Per Share	0.43	0.38	0.34	0.36	0.31
Payout Ratio	24.55	43.66	43.04	38.02	35.3
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	2.58B	2.5B	2.31B	2.42B	2.47B
EBITA	2.41B	2.33B	2.12B	2.2B	2.24B
EBIT	2.41B	2.33B	2.12B	2.2B	2.24B
EBITDAR	-	-	-	-	-
Total Revenues (As Reported)	24.46B	25.21B	25.07B	27.5B	30.51B
Effective Tax Rate - (Ratio)	1.93	2.99	5.18	3.24	3.09
Current Domestic Taxes	34.06M	44.28M	77.34M	54.32M	27.22M
Total Current Taxes	34.06M	44.28M	77.34M	54.32M	27.22M
Deferred Domestic Taxes	2.27M	4.88M	1.87M	-3.08M	27.29M
Total Deferred Taxes	2.27M	4.88M	1.87M	-3.08M	27.29M
Normalized Net Income	1.16B	1.13B	1.02B	1.07B	1.14B
Interest Capitalized	-	2.93M	9.19M	4.67M	-
Interest on Long-Term Debt	2M	1.56M	1.34M	1.06M	938K
Non-Cash Pension Expense	271K	284K	435K	6.74M	492K
Supplemental Operating Expense Items
Selling and Marketing Expenses	693M	601M	566M	368M	451M
General and Administrative Expenses	135M	164M	152M	233M	253M
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Maintenance & Repair Expenses, Total	-	-	-	-	115M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	540M	1.4B	61.18M	221M	59.88M
Total Cash And Short Term Investments	540M	1.4B	61.18M	221M	59.88M
Accounts Receivable, Total	733M	925M	647M	770M	644M
Other Receivables	20.19M	28.43M	3.92M	805K	195M
Notes Receivable	-	-	-	-	-
Total Receivables	754M	954M	651M	771M	839M
Inventory	11.09B	11.82B	13.84B	16.21B	17.03B
Prepaid Expenses	34.95M	36.64M	39.09M	33.59M	70.15M
Other Current Assets, Total	-	24.21M	32.49M	29.75M	7.5M
Total Current Assets	12.42B	14.23B	14.63B	17.27B	18.01B
Gross Property Plant And Equipment	2.25B	2.6B	2.85B	2.99B	2.98B
Accumulated Depreciation	-710M	-890M	-1.07B	-1.29B	-1.46B
Net Property Plant And Equipment	1.55B	1.71B	1.78B	1.7B	1.52B
Other Intangibles, Total	435K	2.95M	2.94M	3.69M	3.08M
Deferred Tax Assets Long-Term	4.06M	2.47M	1.46M	7.5M	1.77M
Other Long-Term Assets, Total	273M	360M	430M	482M	469M
Total Assets	14.24B	16.31B	16.84B	19.46B	20B
Liabilities
Accounts Payable, Total	135M	61.13M	51.98M	59.37M	44.38M
Accrued Expenses, Total	184M	185M	144M	161M	190M
Short-term Borrowings	3.85B	2.69B	3.86B	4.06B	4.41B
Current Portion of Long-Term Debt	812M	1.45B	149M	1.15B	1.13B
Current Portion of Leases	8.23M	8.32M	5.31M	5.69M	3.39M
Current Income Taxes Payable	18.77M	35.75M	40.26M	18.93M	-
Other Current Liabilities	149M	65.23M	29.06M	78.91M	9.43M
Total Current Liabilities	5.15B	4.51B	4.28B	5.53B	5.79B
Long-Term Debt	3.61B	5.18B	5.06B	5.39B	4.46B
Long-Term Leases	16.12M	10.59M	7.29M	5.68M	3.86M
Pension & Other Post Retirement Benefits	14.73M	16.81M	19.16M	30.31M	20.88M
Deferred Tax Liability Non Current	-	3.29M	4.15M	7.12M	28.68M
Other Non Current Liabilities	-	-	-	-	-
Total Liabilities	8.79B	9.72B	9.37B	10.97B	10.3B
Common Stock, Total	880M	924M	924M	924M	924M
Additional Paid In Capital	1.46B	1.57B	1.57B	1.57B	1.57B
Retained Earnings	3.11B	4.09B	4.97B	5.99B	7.21B
Total Common Equity	5.45B	6.59B	7.47B	8.49B	9.71B
Total Equity	5.45B	6.59B	7.47B	8.49B	9.71B
Total Liabilities And Equity	14.24B	16.31B	16.84B	19.46B	20B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.76B	1.85B	1.85B	1.85B	1.85B
ECS Total Common Shares Outstanding	1.76B	1.85B	1.85B	1.85B	1.85B
Book Value / Share	3.09	3.57	4.04	4.59	5.25
Tangible Book Value	5.45B	6.58B	7.47B	8.48B	9.7B
Tangible Book Value Per Share	3.09	3.56	4.04	4.59	5.25
Total Debt	8.29B	9.35B	9.08B	10.61B	10B
Net Debt	7.75B	7.96B	9.02B	10.39B	9.94B
Debt Equivalent Oper. Leases	-	-	-	-	-
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	10.37B	11.35B	12.82B	15.53B	16.21B
Inventories - Work In Process, Total	105M	140M	76.98M	139M	284M
Inventories - Finished Goods, Total	574M	310M	913M	516M	500M
Inventories - Others	21.33M	22.25M	28.92M	29.98M	39.01M
Land - (BS)	118M	124M	124M	141M	141M
Buildings, Total	699M	712M	720M	776M	739M
Machinery, Total	1.2B	1.24B	1.52B	1.79B	1.82B
Full Time Employees	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	1.85B	1.75B	1.55B	1.65B	1.88B
Depreciation & Amortization - CF	178M	184M	198M	231M	234M
Amortization of Goodwill and Intangible Assets - (CF)	152K	273K	603K	804K	1.09M
Depreciation & Amortization, Total	178M	184M	199M	232M	235M
(Gain) Loss From Sale Of Asset	-338K	-	-2.14M	383K	470K
Asset Writedown & Restructuring Costs	847K	334K	996K	69.82K	3.84M
Other Operating Activities, Total	334M	437M	428M	491M	390M
Change In Accounts Receivable	-68.78M	-167M	273M	-118M	87.78M
Change In Inventories	-4.13B	-757M	-2.01B	-2.37B	-922M
Change In Accounts Payable	132M	-181M	-61.74M	40.15M	-26.59M
Change in Other Net Operating Assets	21.02M	-5.97M	-9.06M	-674K	-12.57M
Cash from Operations	-1.68B	1.26B	367M	-68.11M	1.64B
Capital Expenditure	-200M	-331M	-246M	-145M	-111M
Sale of Property, Plant, and Equipment	2.8M	-	3.66M	1.12M	800K
Sale (Purchase) of Intangible assets	-103K	-2.79M	-594K	-1.56M	-464K
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-
Other Investing Activities, Total	-84.23M	-96.07M	-66M	-50.45M	139M
Cash from Investing	-282M	-430M	-309M	-196M	28.34M
Short Term Debt Issued, Total	-	-	1.17B	200M	353M
Long-Term Debt Issued, Total	3.56B	3.02B	-	1.5B	200M
Total Debt Issued	3.56B	3.02B	1.17B	1.7B	553M
Short Term Debt Repaid, Total	-1.24B	-1.15B	-	-	-
Long-Term Debt Repaid, Total	-120M	-816M	-1.45B	-150M	-1.18B
Total Debt Repaid	-1.36B	-1.97B	-1.45B	-150M	-1.18B
Issuance of Common Stock	263M	157M	-	-	-
Common Dividends Paid	-454M	-763M	-665M	-628M	-665M
Common & Preferred Stock Dividends Paid	-454M	-763M	-665M	-628M	-665M
Other Financing Activities, Total	-335M	-422M	-443M	-497M	-542M
Cash from Financing	1.68B	27.75M	-1.39B	424M	-1.83B
Net Change in Cash	-290M	856M	-1.33B	160M	-161M
Supplemental Items
Cash Interest Paid	284M	396M	443M	463M	516M
Cash Income Tax Paid (Refund)	38.32M	31.99M	78.1M	78.5M	55.24M
Levered Free Cash Flow	-2.85B	-58.58M	-812M	-1.26B	208M
Unlevered Free Cash Flow	-2.64B	205M	-537M	-970M	551M
Change In Net Working Capital	4.13B	1.1B	1.81B	2.43B	974M
Net Debt Issued / Repaid	2.2B	1.06B	-285M	1.55B	-624M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	12.33	9.52	7.98	7.57	7.1
Return on Total Capital	12.83	9.8	8.14	7.71	7.22
Return On Equity %	40.5	29.05	21.99	20.71	20.71
Return on Common Equity	40.5	29.05	21.99	20.71	20.71
Margin Analysis
Gross Profit Margin %	13.27	12.27	11.31	10.19	9.74
SG&A Margin	3.39	3.04	2.87	2.19	2.33
EBITDA Margin %	10.58	9.92	9.2	8.83	8.17
EBITA Margin %	9.88	9.23	8.44	8	7.41
EBIT Margin %	9.88	9.23	8.44	8	7.41
Income From Continuing Operations Margin %	7.57	6.93	6.17	6.02	6.23
Net Income Margin %	7.57	6.93	6.17	6.02	6.23
Net Avail. For Common Margin %	7.57	6.93	6.17	6.02	6.23
Normalized Net Income Margin	4.76	4.47	4.06	3.89	3.75
Levered Free Cash Flow Margin	-11.66	-0.23	-3.24	-4.6	0.69
Unlevered Free Cash Flow Margin	-10.81	0.81	-2.14	-3.53	1.82
Asset Turnover
Asset Turnover	2	1.65	1.51	1.51	1.53
Fixed Assets Turnover	15.99	15.5	14.38	15.81	18.8
Receivables Turnover (Average Receivables)	34.05	30.35	31.86	38.68	42.79
Inventory Turnover (Average Inventory)	2.35	1.93	1.73	1.64	1.64
Short Term Liquidity
Current Ratio	2.41	3.16	3.42	3.12	3.11
Quick Ratio	0.25	0.52	0.17	0.18	0.16
Operating Cash Flow to Current Liabilities	-0.33	0.28	0.09	-0.01	0.28
Days Sales Outstanding (Average Receivables)	10.72	12.02	11.46	9.46	8.53
Days Outstanding Inventory (Average Inventory)	155.16	189.05	210.68	222.97	222.12
Average Days Payable Outstanding	1.61	1.57	0.85	0.75	0.67
Cash Conversion Cycle (Average Days)	164.27	199.5	221.29	231.68	229.98
Long Term Solvency
Total Debt/Equity	152.26	141.94	121.6	125.04	103.06
Total Debt / Total Capital	60.36	58.67	54.87	55.56	50.75
LT Debt/Equity	66.56	78.83	67.84	63.61	45.94
Long-Term Debt / Total Capital	26.38	32.58	30.61	28.27	22.62
Total Liabilities / Total Assets	61.75	59.6	55.65	56.38	51.48
EBIT / Interest Expense	7.29	5.52	4.81	4.68	4.09
EBITDA / Interest Expense	7.83	5.96	5.26	5.18	4.52
(EBITDA - Capex) / Interest Expense	7.23	5.17	4.7	4.87	4.32
Total Debt / EBITDA	3.2	3.73	3.92	4.37	4.04
Net Debt / EBITDA	2.99	3.17	3.9	4.28	4.01
Total Debt / (EBITDA - Capex)	3.47	4.29	4.39	4.65	4.23
Net Debt / (EBITDA - Capex)	3.24	3.65	4.36	4.55	4.2
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	49.3	3.09	-0.57	9.62	10.17
Gross Profit, 1 Yr. Growth %	86.22	-5.23	-8.35	-0.93	5.26
EBITDA, 1 Yr. Growth %	97.17	-3.97	-7.78	5.48	1.96
EBITA, 1 Yr. Growth %	100.93	-4.46	-9.06	4.34	2.04
EBIT, 1 Yr. Growth %	100.94	-4.47	-9.07	4.33	2.03
Earnings From Cont. Operations, 1 Yr. Growth %	115.47	-5.52	-11.58	6.91	14.04
Net Income, 1 Yr. Growth %	115.47	-5.52	-11.58	6.91	14.04
Normalized Net Income, 1 Yr. Growth %	103.47	-4.49	-9.54	4.77	6.43
Diluted EPS Before Extra, 1 Yr. Growth %	102.98	-12.68	-12	6.91	14.04
Accounts Receivable, 1 Yr. Growth %	4.6	26.14	-30.04	18.56	-16.39
Inventory, 1 Yr. Growth %	60.04	6.62	17.09	17.12	5.04
Net Property, Plant and Equip., 1 Yr. Growth %	2.29	10.58	4.07	-4.61	-10.16
Total Assets, 1 Yr. Growth %	39.16	14.52	3.27	15.55	2.81
Tangible Book Value, 1 Yr. Growth %	47.58	20.92	13.38	13.64	14.38
Common Equity, 1 Yr. Growth %	47.57	20.96	13.37	13.65	14.37
Cash From Operations, 1 Yr. Growth %	-5.65K	-174.7	-70.82	-118.55	-2.51K
Capital Expenditures, 1 Yr. Growth %	-62.44	65.45	-25.84	-40.94	-23.63
Levered Free Cash Flow, 1 Yr. Growth %	218.61	-97.93	1.29K	54.55	-116.5
Unlevered Free Cash Flow, 1 Yr. Growth %	251.28	-107.79	-362.41	78.83	-156.81
Dividend Per Share, 1 Yr. Growth %	104.76	-11.63	-10.53	5.88	-13.89
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	36.98	24.11	1.24	4.39	9.89
Gross Profit, 2 Yr. CAGR %	69.04	33.27	-6.8	-4.86	2.12
EBITDA, 2 Yr. CAGR %	82.18	38.15	-5.89	-1.56	3.7
EBITA, 2 Yr. CAGR %	85.93	39.15	-6.79	-2.79	3.18
EBIT, 2 Yr. CAGR %	85.94	39.15	-6.8	-2.8	3.17
Earnings From Cont. Operations, 2 Yr. CAGR %	85.29	42.68	-8.6	-2.77	10.42
Net Income, 2 Yr. CAGR %	85.29	42.68	-8.6	-2.77	10.42
Normalized Net Income, 2 Yr. CAGR %	81.9	40.3	-7.05	-2.65	5.6
Diluted EPS Before Extra, 2 Yr. CAGR %	76.33	33.13	-12.34	-2.98	10.42
Accounts Receivable, 2 Yr. CAGR %	22.77	14.87	-6.06	-8.78	-0.44
Inventory, 2 Yr. CAGR %	35.87	30.63	11.74	17.11	10.92
Net Property, Plant and Equip., 2 Yr. CAGR %	20.01	6.35	7.27	-0.37	-7.43
Total Assets, 2 Yr. CAGR %	33.5	26.24	8.75	9.23	9
Tangible Book Value, 2 Yr. CAGR %	34.49	33.58	17.09	13.51	14.01
Common Equity, 2 Yr. CAGR %	34.49	33.61	17.1	13.51	14.01
Cash From Operations, 2 Yr. CAGR %	246.06	544.14	-53.31	-76.73	111.42
Capital Expenditures, 2 Yr. CAGR %	-8.89	-21.16	10.77	-33.82	-32.84
Levered Free Cash Flow, 2 Yr. CAGR %	91.42	-74.4	-46.49	364.3	-49.51
Unlevered Free Cash Flow, 2 Yr. CAGR %	103.39	-47.83	-54.8	117.71	0.79
Dividend Per Share, 2 Yr. CAGR %	75.25	34.52	-11.08	-2.67	-4.51
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	34.35	24.63	15.27	3.95	6.28
Gross Profit, 3 Yr. CAGR %	45.24	39.68	17.64	-4.98	-1.6
EBITDA, 3 Yr. CAGR %	47.46	47.56	20.74	-2.37	-0.4
EBITA, 3 Yr. CAGR %	49.27	49.35	20.76	-3.35	-1.2
EBIT, 3 Yr. CAGR %	49.27	49.35	20.75	-3.36	-1.22
Earnings From Cont. Operations, 3 Yr. CAGR %	56.1	48.03	21.64	-3.7	2.54
Net Income, 3 Yr. CAGR %	56.1	48.03	21.64	-3.7	2.54
Normalized Net Income, 3 Yr. CAGR %	55.22	47.38	21.21	-3.26	0.29
Diluted EPS Before Extra, 3 Yr. CAGR %	32.51	39.5	15.97	-6.33	2.39
Accounts Receivable, 3 Yr. CAGR %	17.39	23.89	-2.63	1.63	-11.39
Inventory, 3 Yr. CAGR %	28.78	25.33	25.95	13.5	12.94
Net Property, Plant and Equip., 3 Yr. CAGR %	19.56	16.78	5.59	3.16	-3.74
Total Assets, 3 Yr. CAGR %	28.61	26.85	18.06	10.97	7.05
Tangible Book Value, 3 Yr. CAGR %	26.79	29.81	26.48	15.93	13.8
Common Equity, 3 Yr. CAGR %	26.78	29.82	26.49	15.94	13.79
Cash From Operations, 3 Yr. CAGR %	28.9	107.59	129.63	-65.68	9.26
Capital Expenditures, 3 Yr. CAGR %	34.32	11.16	-22.75	-10.18	-30.58
Levered Free Cash Flow, 3 Yr. CAGR %	32.84	-57.76	-3.16	-23.63	52.64
Unlevered Free Cash Flow, 3 Yr. CAGR %	35.3	-31.57	-10.62	-28.27	39.12
Dividend Per Share, 3 Yr. CAGR %	49	39.49	17.42	-5.75	-6.56
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	31.79	20.75	20	16.1	13.08
Gross Profit, 5 Yr. CAGR %	-11.63	34.48	21.78	19.79	11.1
EBITDA, 5 Yr. CAGR %	47.28	37.72	23.41	25.5	13.53
EBITA, 5 Yr. CAGR %	50.63	40.17	23.86	25.78	13.3
EBIT, 5 Yr. CAGR %	50.65	40.18	23.85	25.77	13.29
Earnings From Cont. Operations, 5 Yr. CAGR %	65.71	50.8	26.01	25.12	17.02
Net Income, 5 Yr. CAGR %	65.71	50.8	26.01	25.12	17.02
Normalized Net Income, 5 Yr. CAGR %	64.1	50.45	26.76	24.85	14.7
Diluted EPS Before Extra, 5 Yr. CAGR %	45.05	31.85	12.32	20.64	13.73
Accounts Receivable, 5 Yr. CAGR %	1.86	-14.94	7.38	9.61	-1.69
Inventory, 5 Yr. CAGR %	33.58	42.64	21.67	21.97	19.71
Net Property, Plant and Equip., 5 Yr. CAGR %	12	13.89	14.49	9.59	0.17
Total Assets, 5 Yr. CAGR %	25.24	26.17	20.26	19.49	14.35
Tangible Book Value, 5 Yr. CAGR %	51.34	55.85	22.81	23.02	21.33
Common Equity, 5 Yr. CAGR %	51.31	55.84	22.82	23.03	21.34
Cash From Operations, 5 Yr. CAGR %	61.16	43.39	-14.13	-13.5	122.17
Capital Expenditures, 5 Yr. CAGR %	0.48	49.34	24.35	-9.66	-26.96
Levered Free Cash Flow, 5 Yr. CAGR %	23.01	-16.71	-7.74	10.2	-25.27
Unlevered Free Cash Flow, 5 Yr. CAGR %	24.31	84.66	-12.82	8.72	-6.03
Dividend Per Share, 5 Yr. CAGR %	27.87	-	21.2	20.79	8.1