Income Statement TPCS

Stocks

TPCS

TH0090010Z01

Textiles & Leather Goods

End-of-day quote Thailand S.E. 2026-09-07			5-day change	1st Jan Change
10.20 ^THB	0.00%		0.00%	+3.55%

08-16	TPCS Public Company Limited Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI
05-14	TPCS Public Company Limited Reports Earnings Results for the First Quarter Ended March 31, 2026	CI

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Published financial data: TPCS

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Revenues	933M	1.79B	1.44B	1.23B	1.33B
Total Revenues	933M	1.79B	1.44B	1.23B	1.33B
Cost of Goods Sold, Total	688M	1.23B	1.06B	984M	990M
Gross Profit	244M	562M	376M	249M	335M
Selling General & Admin Expenses, Total	188M	288M	262M	284M	323M
Other Operating Expenses, Total	188M	288M	262M	284M	323M
Operating Income	56.9M	274M	114M	-34.77M	11.56M
Interest Expense, Total	-1.07M	-84	-700	-	-42
Interest And Investment Income	43.18M	47.73M	38.78M	43.86M	51.43M
Net Interest Expenses	42.11M	47.73M	38.78M	43.86M	51.43M
Income (Loss) On Equity Invest.	-9.14M	-12.23M	-6.9M	-2.15M	2.41M
Other Non Operating Income (Expenses)	19.38M	10.16M	16.5M	9.64M	9.46M
EBT, Excl. Unusual Items	109M	320M	162M	16.58M	74.86M
Gain (Loss) On Sale Of Investments	10.81M	-24.82M	-69.49M	-6.83M	30.46M
Gain (Loss) On Sale Of Assets	1.86M	337K	1.84M	76.29K	429K
Asset Writedown	-	-24.68M	3.49M	-18.93M	-11.62M
EBT, Incl. Unusual Items	122M	271M	98.33M	-9.1M	94.12M
Income Tax Expense	15.4M	-10.81M	14.24M	-5.06M	5.58M
Earnings From Continuing Operations	107M	282M	84.09M	-4.04M	88.54M
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	107M	282M	84.09M	-4.04M	88.54M
Minority Interest	214K	3.56M	-1.05M	-1.48M	2.06M
Net Income - (IS)	107M	285M	83.04M	-5.52M	90.6M
Net Income to Common Incl Extra Items	107M	285M	83.04M	-5.52M	90.6M
Net Income to Common Excl. Extra Items	107M	285M	83.04M	-5.52M	90.6M
Per Share Items
Net EPS - Basic	0.99	2.64	0.77	-0.05	0.84
Basic EPS - Continuing Operations	0.99	2.64	0.77	-0.05	0.84
Basic Weighted Average Shares Outstanding	108M	108M	108M	110M	108M
Net EPS - Diluted	0.99	2.64	0.77	-0.05	0.84
Diluted EPS - Continuing Operations	0.99	2.64	0.77	-0.05	0.84
Diluted Weighted Average Shares Outstanding	108M	108M	108M	110M	108M
Normalized Basic EPS	0.64	1.88	0.93	0.08	0.45
Normalized Diluted EPS	0.64	1.88	0.93	0.08	0.45
Dividend Per Share	0.75	1	0.65	0.25	0.7
Payout Ratio	60.72	28.4	130.06	-1.27K	29.8
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	124M	346M	184M	50.4M	95.46M
EBITA	56.9M	274M	114M	-34.77M	11.56M
EBIT	56.9M	274M	114M	-34.77M	11.56M
EBITDAR	-	-	184M	50.51M	-
Total Revenues (As Reported)	933M	1.79B	1.44B	1.23B	1.33B
Effective Tax Rate - (Ratio)	12.64	-3.99	14.48	55.58	5.93
Total Current Taxes	-	-	21.23M	-	569K
Total Deferred Taxes	15.4M	-10.81M	-6.99M	-5.06M	5.01M
Normalized Net Income	68.5M	204M	101M	8.88M	48.85M
Non-Cash Pension Expense	768K	832K	968K	1.2M	571K
Supplemental Operating Expense Items
Selling and Marketing Expenses	64.23M	137M	140M	150M	188M
General and Administrative Expenses	123M	150M	123M	134M	136M
Net Rental Expense, Total	-	-	37.34K	108K	-

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Assets
Cash And Equivalents	198M	252M	287M	236M	158M
Short Term Investments	-	-	-	-	23.31M
Trading Asset Securities, Total	748M	789M	555M	671M	815M
Total Cash And Short Term Investments	947M	1.04B	842M	907M	996M
Accounts Receivable, Total	131M	214M	149M	136M	135M
Other Receivables	21.92M	16.92M	23.77M	24.5M	21.95M
Notes Receivable	46.68M	48.29M	47.83M	-	4.75M
Total Receivables	199M	279M	220M	160M	162M
Inventory	155M	227M	223M	175M	173M
Prepaid Expenses	2.31M	3.27M	6.07M	2.12M	2.95M
Other Current Assets, Total	519K	6.1M	17.16M	63.63M	16.5M
Total Current Assets	1.3B	1.56B	1.31B	1.31B	1.35B
Gross Property Plant And Equipment	1.79B	1.88B	2.12B	2.15B	2.17B
Accumulated Depreciation	-1.16B	-1.23B	-1.29B	-1.35B	-1.43B
Net Property Plant And Equipment	632M	652M	833M	799M	736M
Long-term Investments	689M	687M	625M	612M	744M
Other Intangibles, Total	120M	18.64M	23.97M	25.91M	17.25M
Deferred Tax Assets Long-Term	66.18M	76.36M	83.35M	88.52M	85.09M
Other Long-Term Assets, Total	67.89M	79.84M	72.5M	71.3M	71.56M
Total Assets	2.88B	3.07B	2.95B	2.9B	3B
Liabilities
Accounts Payable, Total	80.25M	115M	96.2M	90.24M	70.44M
Accrued Expenses, Total	20.57M	49.52M	4.17M	2.73M	15.97M
Current Portion of Leases	-	-	-	-	-
Current Income Taxes Payable	-	-	5.79M	-	-
Other Current Liabilities	33.95M	38.88M	55.29M	43.12M	30.51M
Total Current Liabilities	135M	203M	161M	136M	117M
Pension & Other Post Retirement Benefits	60.62M	57.25M	57.51M	59.91M	61.94M
Deferred Tax Liability Non Current	74.75M	59.53M	47.96M	59.64M	74.31M
Other Non Current Liabilities	266K	320K	320K	380K	330K
Total Liabilities	270M	320M	267M	256M	253M
Common Stock, Total	108M	108M	108M	108M	108M
Additional Paid In Capital	110M	110M	110M	110M	110M
Retained Earnings	2.07B	2.27B	2.25B	2.17B	2.23B
Comprehensive Income and Other	293M	234M	188M	234M	287M
Total Common Equity	2.58B	2.72B	2.65B	2.62B	2.74B
Minority Interest	30.57M	27.01M	28.25M	29.74M	16.12M
Total Equity	2.61B	2.75B	2.68B	2.65B	2.75B
Total Liabilities And Equity	2.88B	3.07B	2.95B	2.9B	3B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	108M	108M	108M	108M	108M
ECS Total Common Shares Outstanding	108M	108M	108M	108M	108M
Book Value / Share	23.87	25.22	24.55	24.25	25.33
Tangible Book Value	2.46B	2.7B	2.63B	2.59B	2.72B
Tangible Book Value Per Share	22.76	25.04	24.33	24.01	25.17
Total Debt	0	0	0	0	0
Net Debt	-947M	-1.04B	-842M	-907M	-996M
Debt Equivalent of Unfunded Proj. Benefit Obligation	60.62M	57.25M	57.51M	59.91M	61.94M
Debt Equivalent Oper. Leases	-	-	299K	865K	-
Minority Interest, Total (Incl. Fin. Div)	30.57M	27.01M	28.25M	29.74M	16.12M
Equity Method Investments, Total	85.43M	73.2M	70.87M	9.32M	18.23M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	68.77M	82.43M	74.22M	60.67M	50.14M
Inventories - Work In Process, Total	21.21M	30.47M	30.87M	25.02M	21.84M
Inventories - Finished Goods, Total	55.97M	84.95M	95.76M	81.69M	90.71M
Inventories - Others	18.98M	39.55M	43.1M	34.14M	25.86M
Land - (BS)	271M	271M	271M	271M	271M
Buildings, Total	279M	279M	398M	403M	403M
Machinery, Total	1.21B	1.32B	1.44B	1.47B	1.49B
Accumulated Allowance for Doubtful Accounts (Supple)	1.5M	2.25M	1.79M	1.52M	1.52M

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Net Income	107M	285M	83.04M	-5.52M	90.6M
Depreciation & Amortization - CF	66.85M	71.49M	69.43M	85.17M	83.9M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	66.85M	71.49M	69.43M	85.17M	83.9M
Amortization of Deferred Charges, Total - (CF)	671K	708K	776K	121K	1.05M
(Gain) Loss From Sale Of Asset	-1.5M	2.5K	-1.82M	-59.45K	-386K
(Gain) Loss on Sale of Investments - (CF)	-14.01M	34.39M	63.81M	14.05M	-17.79M
Asset Writedown & Restructuring Costs	-	24.68M	-3.49M	18.93M	11.62M
(Income) Loss On Equity Investments - (CF)	9.14M	12.23M	6.9M	2.15M	-2.41M
Provision and Write-off of Bad Debts	626K	1.28M	83.07K	267K	-29.37K
Net Cash From Discontinued Operations	-	-	-	-	-
Other Operating Activities, Total	-35.03M	-60.35M	-32.07M	-49.4M	-56.07M
Change In Accounts Receivable	-14.63M	-78.17M	55.45M	17.98M	1.33M
Change In Inventories	-36.68M	-72.47M	-6.55M	42.43M	12.98M
Change In Accounts Payable	9.55M	67.55M	-55.35M	-11.1M	-19.23M
Change in Other Net Operating Assets	8.74M	-23.12M	9.28M	-6M	-3.96M
Cash from Operations	100M	263M	189M	109M	102M
Capital Expenditure	-79.67M	-91.96M	-255M	-51.38M	-29.9M
Sale of Property, Plant, and Equipment	1.87M	345K	6.36M	303K	5.55M
Divestitures	15M	-	200K	-	-
Sale (Purchase) of Intangible assets	-24.75M	-11.4M	-2.54M	-4.03M	-534K
Investment in Marketable and Equity Securities, Total	95.28M	-72.36M	167M	-128M	-164M
Other Investing Activities, Total	42.91M	46.77M	37.59M	92.28M	47.19M
Cash from Investing	50.63M	-129M	-46.33M	-90.48M	-142M
Common Dividends Paid	-64.8M	-81M	-108M	-70.2M	-27M
Common & Preferred Stock Dividends Paid	-64.8M	-81M	-108M	-70.2M	-27M
Other Financing Activities, Total	-33.64M	-	-	-	-10.37M
Cash from Financing	-98.44M	-81M	-108M	-70.2M	-37.37M
Miscellaneous Cash Flow Adjustments	-	-	-	-	-
Net Change in Cash	52.64M	53.82M	35.14M	-51.67M	-77.93M
Supplemental Items
Cash Interest Paid	-	-	-	-	-
Cash Income Tax Paid (Refund)	1.52M	1.24M	14.97M	7.93M	1.25M
Levered Free Cash Flow	-48.6M	50.44M	-109M	48.7M	89.53M
Unlevered Free Cash Flow	-47.93M	50.44M	-109M	48.7M	89.53M
Change In Net Working Capital	46.59M	89.85M	-6.85M	-40.55M	-27.79M

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Profitability
Return on Assets	1.29	5.76	2.37	-0.74	0.24
Return on Total Capital	1.42	6.4	2.63	-0.82	0.27
Return On Equity %	4.29	10.51	3.1	-0.15	3.28
Return on Common Equity	4.34	10.76	3.09	-0.21	3.38
Margin Analysis
Gross Profit Margin %	26.21	31.34	26.18	20.23	25.28
SG&A Margin	20.11	16.04	18.24	23.05	24.41
EBITDA Margin %	13.27	19.29	12.77	4.09	7.2
EBITA Margin %	6.1	15.3	7.94	-2.82	0.87
EBIT Margin %	6.1	15.3	7.94	-2.82	0.87
Income From Continuing Operations Margin %	11.42	15.71	5.85	-0.33	6.68
Net Income Margin %	11.44	15.9	5.78	-0.45	6.84
Net Avail. For Common Margin %	11.44	15.9	5.78	-0.45	6.84
Normalized Net Income Margin	7.34	11.35	6.99	0.72	3.69
Levered Free Cash Flow Margin	-5.21	2.81	-7.57	3.95	6.76
Unlevered Free Cash Flow Margin	-5.14	2.81	-7.57	3.95	6.76
Asset Turnover
Asset Turnover	0.34	0.6	0.48	0.42	0.45
Fixed Assets Turnover	1.49	2.79	1.94	1.51	1.73
Receivables Turnover (Average Receivables)	7.38	10.42	7.93	8.67	9.78
Inventory Turnover (Average Inventory)	4.97	6.44	4.71	4.94	5.69
Short Term Liquidity
Current Ratio	9.68	7.67	8.11	9.61	11.55
Quick Ratio	8.16	6.27	6.29	7.84	9.87
Operating Cash Flow to Current Liabilities	0.75	1.3	1.17	0.8	0.87
Days Sales Outstanding (Average Receivables)	49.45	35.04	46.02	42.22	37.33
Days Outstanding Inventory (Average Inventory)	73.4	56.71	77.55	74.15	64.13
Average Days Payable Outstanding	40.21	27.29	36.4	36.47	29.69
Cash Conversion Cycle (Average Days)	82.63	64.47	87.18	79.9	71.77
Long Term Solvency
Total Debt/Equity	-	-	-	-	-
Total Debt / Total Capital	-	-	-	-	-
Total Liabilities / Total Assets	9.39	10.43	9.07	8.81	8.44
EBIT / Interest Expense	53.3	3.27M	163K	-	275K
EBITDA / Interest Expense	115.92	4.12M	262K	-	2.27M
(EBITDA - Capex) / Interest Expense	41.29	3.02M	-102K	-	1.56M
Total Debt / EBITDA	-	-	-	-	-
Net Debt / EBITDA	-7.65	-3.01	-4.59	-17.99	-10.44
Total Debt / (EBITDA - Capex)	-	-	-	-	-
Net Debt / (EBITDA - Capex)	-21.48	-4.1	11.85	920.9	-15.2
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	22.26	92.26	-19.86	-14.18	7.45
Gross Profit, 1 Yr. Growth %	42.81	129.94	-33.05	-33.69	37.72
EBITDA, 1 Yr. Growth %	49.13	179.46	-46.93	-72.54	93.57
EBITA, 1 Yr. Growth %	258.62	382.15	-58.41	-130.47	-133.23
EBIT, 1 Yr. Growth %	258.62	382.15	-58.41	-130.47	-133.23
Earnings From Cont. Operations, 1 Yr. Growth %	-617.84	164.43	-70.14	-104.81	-2.29K
Net Income, 1 Yr. Growth %	-646.94	167.23	-70.88	-106.65	-1.74K
Normalized Net Income, 1 Yr. Growth %	84.54	197.18	-50.62	-91.16	449.94
Diluted EPS Before Extra, 1 Yr. Growth %	-650	166.67	-70.83	-106.49	-1.78K
Accounts Receivable, 1 Yr. Growth %	7.1	63.46	-30.36	-8.74	-0.34
Inventory, 1 Yr. Growth %	27.8	46.37	-1.68	-21.62	-1.37
Net Property, Plant and Equip., 1 Yr. Growth %	1.78	3.19	27.72	-4.04	-7.84
Total Assets, 1 Yr. Growth %	10.03	6.65	-4.02	-1.45	3.46
Tangible Book Value, 1 Yr. Growth %	5.04	10.02	-2.85	-1.33	4.83
Common Equity, 1 Yr. Growth %	10.04	5.63	-2.63	-1.24	4.45
Cash From Operations, 1 Yr. Growth %	246.16	162.28	-28.08	-42.47	-6.78
Capital Expenditures, 1 Yr. Growth %	13.76	15.43	176.89	-79.82	-41.81
Levered Free Cash Flow, 1 Yr. Growth %	-62.71	-203.8	-315.72	-144.75	83.85
Unlevered Free Cash Flow, 1 Yr. Growth %	-62.72	-205.24	-315.72	-144.75	83.85
Dividend Per Share, 1 Yr. Growth %	25	33.33	-35	-61.54	180
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	5.32	53.31	24.13	-17.07	-3.97
Gross Profit, 2 Yr. CAGR %	38.34	81.21	24.07	-33.37	-5.64
EBITDA, 2 Yr. CAGR %	54.59	104.15	21.79	-61.82	-27.88
EBITA, 2 Yr. CAGR %	83.66	315.82	41.61	-64.4	-68.18
EBIT, 2 Yr. CAGR %	83.66	315.82	41.61	-64.4	-68.18
Earnings From Cont. Operations, 2 Yr. CAGR %	19.33	270.04	-11.15	-88.02	2.61
Net Income, 2 Yr. CAGR %	19.61	282.31	-11.79	-86.08	4.46
Normalized Net Income, 2 Yr. CAGR %	46.34	134.18	21.14	-79.11	-30.29
Diluted EPS Before Extra, 2 Yr. CAGR %	19.78	282.97	-11.81	-86.24	4.45
Accounts Receivable, 2 Yr. CAGR %	7.66	32.32	6.7	-20.28	-4.64
Inventory, 2 Yr. CAGR %	32.17	36.77	19.96	-12.21	-12.07
Net Property, Plant and Equip., 2 Yr. CAGR %	1.11	2.48	14.8	10.71	-5.96
Total Assets, 2 Yr. CAGR %	5.78	8.32	1.17	-2.74	0.98
Tangible Book Value, 2 Yr. CAGR %	4.24	7.5	3.39	-2.09	1.71
Common Equity, 2 Yr. CAGR %	6.68	7.82	1.42	-1.94	1.57
Cash From Operations, 2 Yr. CAGR %	3.5	201.31	37.34	-35.67	-26.77
Capital Expenditures, 2 Yr. CAGR %	79.1	14.59	78.78	-25.25	-65.73
Levered Free Cash Flow, 2 Yr. CAGR %	-45.2	-37.79	49.64	-1.75	-9.29
Unlevered Free Cash Flow, 2 Yr. CAGR %	-46.02	-37.37	50.67	-1.75	-9.29
Dividend Per Share, 2 Yr. CAGR %	11.8	29.1	-6.91	-50	3.77
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-0.03	28.71	23.5	9.76	-9.59
Gross Profit, 3 Yr. CAGR %	11.79	63.88	30.03	0.69	-15.84
EBITDA, 3 Yr. CAGR %	10.31	88.32	30.29	-25.88	-34.89
EBITA, 3 Yr. CAGR %	42.37	153.36	93.03	-15.14	-65.21
EBIT, 3 Yr. CAGR %	42.37	153.36	93.03	-15.14	-65.21
Earnings From Cont. Operations, 3 Yr. CAGR %	9.53	55.57	59.9	-66.39	-32
Net Income, 3 Yr. CAGR %	9.75	56.37	62.05	-62.73	-31.77
Normalized Net Income, 3 Yr. CAGR %	7.5	85.32	39.38	-49.38	-37.86
Diluted EPS Before Extra, 3 Yr. CAGR %	9.81	56.41	62.33	-63.04	-31.73
Accounts Receivable, 3 Yr. CAGR %	-3.82	23.74	6.83	1.28	-14.12
Inventory, 3 Yr. CAGR %	14.12	36.74	22.52	4.1	-8.74
Net Property, Plant and Equip., 3 Yr. CAGR %	6.35	1.8	10.28	8.14	4.14
Total Assets, 3 Yr. CAGR %	1.87	6.07	4.04	0.29	-0.72
Tangible Book Value, 3 Yr. CAGR %	2.14	6.13	3.94	1.79	0.17
Common Equity, 3 Yr. CAGR %	3.72	6.33	4.21	0.52	0.15
Cash From Operations, 3 Yr. CAGR %	5.6	41.11	86.91	2.77	-27.21
Capital Expenditures, 3 Yr. CAGR %	38.08	54.71	53.77	-13.6	-31.24
Levered Free Cash Flow, 3 Yr. CAGR %	0.12	-32.19	-5.84	0.07	21.07
Unlevered Free Cash Flow, 3 Yr. CAGR %	-2.69	-32.57	-5.41	0.53	21.07
Dividend Per Share, 3 Yr. CAGR %	7.72	18.56	2.7	-30.66	-11.21
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-3.1	13.72	9.01	7.96	11.68
Gross Profit, 5 Yr. CAGR %	0.44	23.39	16.55	14.33	14.38
EBITDA, 5 Yr. CAGR %	-5.96	26.16	14.77	-0.54	2.84
EBITA, 5 Yr. CAGR %	-10.27	43.73	42.06	15.56	-6.14
EBIT, 5 Yr. CAGR %	-10.26	43.76	42.07	15.56	-6.14
Earnings From Cont. Operations, 5 Yr. CAGR %	-19.08	17.39	0.74	-44.21	33.9
Net Income, 5 Yr. CAGR %	-19.06	17.14	0.56	-40.58	35.94
Normalized Net Income, 5 Yr. CAGR %	-12.36	20.67	12.76	-22.6	5.65
Diluted EPS Before Extra, 5 Yr. CAGR %	-19.61	17.13	0.59	-40.84	36.08
Accounts Receivable, 5 Yr. CAGR %	-5.5	7.16	0.26	3.79	2.09
Inventory, 5 Yr. CAGR %	14.96	25.79	16.42	14.53	7.29
Net Property, Plant and Equip., 5 Yr. CAGR %	6.79	2.84	9.65	5.27	3.47
Total Assets, 5 Yr. CAGR %	2.09	2.13	1.59	2.45	2.81
Tangible Book Value, 5 Yr. CAGR %	1.93	3.24	2.64	2.76	3.04
Common Equity, 5 Yr. CAGR %	2.86	3.35	2.79	2.94	3.15
Cash From Operations, 5 Yr. CAGR %	-3.63	12.62	17.3	3.06	28.49
Capital Expenditures, 5 Yr. CAGR %	-19.5	17.68	53.11	15.65	-15.65
Levered Free Cash Flow, 5 Yr. CAGR %	-32.22	-10.04	17.58	-21.35	-7.24
Unlevered Free Cash Flow, 5 Yr. CAGR %	-32.41	-10.4	15.91	-21.61	-6.99
Dividend Per Share, 5 Yr. CAGR %	-15.1	7.39	1.61	-16.06	3.13