Income Statement TQR

Stocks

TQR

THA169010008

Multiline Insurance & Brokers

End-of-day quote Thailand S.E. 2026-09-04			5-day change	1st Jan Change
6.350 ^THB	-1.55%		+3.25%	+27.00%

08-06	TQR Public Company Limited Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI
08-06	TQR Public Company Limited Announces the Interim Cash Dividend on the Operation from January 1, 2026 to June 30, 2026, Payable on September 4, 2026	CI

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Published financial data: TQR

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Revenues	225M	237M	241M	248M	267M
Gain (Loss) on Sale of Investment, Total (Rev)	1.94M	-86.04K	-4.08M	1.16M	-
Other Revenues, Total	2.53M	6.85M	13.41M	9.86M	11.57M
Total Revenues	229M	243M	250M	259M	279M
Cost of Goods Sold, Total	56.31M	56.69M	57.73M	59.59M	62.08M
Gross Profit	173M	187M	192M	199M	217M
Selling General & Admin Expenses, Total	78.42M	63.07M	60.86M	75.64M	85.78M
Other Operating Expenses, Total	78.42M	63.07M	60.86M	75.64M	85.78M
Operating Income	94.39M	124M	131M	124M	131M
Interest Expense, Total	-737K	-695K	-482K	-510K	-548K
Net Interest Expenses	-737K	-695K	-482K	-510K	-548K
Income (Loss) On Equity Invest.	-	-	684K	2.97M	2.53M
Currency Exchange Gains (Loss)	-	-	-	-	-3.88M
Other Non Operating Income (Expenses)	27.24M	-	-5.84M	-453K	-
EBT, Excl. Unusual Items	121M	123M	126M	126M	129M
Gain (Loss) On Sale Of Investments	-	-	-	-	-3.12M
Gain (Loss) On Sale Of Assets	-	-	-	-	-16
EBT, Incl. Unusual Items	121M	123M	126M	126M	126M
Income Tax Expense	23.44M	24.77M	25.39M	25.44M	25.57M
Earnings From Continuing Operations	97.46M	98.27M	100M	100M	101M
Net Income to Company	97.46M	98.27M	100M	100M	101M
Minority Interest	23.05K	-40.22K	-5.22K	102K	590K
Net Income - (IS)	97.48M	98.23M	100M	100M	101M
Net Income to Common Incl Extra Items	97.48M	98.23M	100M	100M	101M
Net Income to Common Excl. Extra Items	97.48M	98.23M	100M	100M	101M
Per Share Items
Net EPS - Basic	0.44	0.43	0.44	0.44	0.44
Basic EPS - Continuing Operations	0.44	0.43	0.44	0.44	0.44
Basic Weighted Average Shares Outstanding	222M	230M	230M	230M	230M
Net EPS - Diluted	0.44	0.43	0.44	0.44	0.44
Diluted EPS - Continuing Operations	0.44	0.43	0.44	0.44	0.44
Diluted Weighted Average Shares Outstanding	222M	230M	230M	230M	230M
Normalized Basic EPS	0.34	0.33	0.34	0.34	0.35
Normalized Diluted EPS	0.34	0.33	0.34	0.34	0.35
Dividend Per Share	0.32	0.39	0.4	0.4	0.4
Payout Ratio	42.23	68.61	97.22	93.97	88.93
Supplemental Items
EBITDA	96.09M	125M	133M	125M	133M
EBITA	94.39M	124M	131M	124M	131M
EBIT	94.39M	124M	131M	124M	131M
EBITDAR	-	-	-	-	-
Total Revenues (As Reported)	256M	243M	250M	259M	279M
Effective Tax Rate - (Ratio)	19.39	20.14	20.2	20.24	20.28
Current Domestic Taxes	24.58M	26.19M	26.7M	26.45M	25.15M
Total Current Taxes	24.58M	26.19M	26.7M	26.45M	25.15M
Deferred Domestic Taxes	-1.15M	-1.42M	-1.31M	-1.02M	420K
Total Deferred Taxes	-1.15M	-1.42M	-1.31M	-1.02M	420K
Normalized Net Income	75.58M	76.86M	78.56M	78.65M	81.36M
Interest on Long-Term Debt	-	-	-	-	-
Non-Cash Pension Expense	474K	522K	638K	447K	514K
Supplemental Operating Expense Items
Marketing Expenses	5.31M	6.95M	6.25M	7.79M	-
Selling and Marketing Expenses	4.82M	4.6M	6.19M	5.63M	5.64M
General and Administrative Expenses	73.6M	58.47M	54.67M	70.01M	80.14M
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Assets
Cash And Equivalents	149M	64.48M	70.78M	103M	125M
Short Term Investments	89.89M	80.43M	91.16M	144M	133M
Trading Asset Securities, Total	179M	284M	231M	185M	190M
Total Cash And Short Term Investments	417M	429M	393M	432M	448M
Accounts Receivable, Total	87.1M	116M	120M	77.56M	87.45M
Other Receivables	1.25M	1.54M	1.01M	679K	1.26M
Total Receivables	88.34M	117M	121M	78.24M	88.72M
Prepaid Expenses	-	-	-	-	1.96M
Other Current Assets, Total	3.63M	9.83M	10.96M	12.51M	18.83M
Total Current Assets	509M	556M	524M	523M	558M
Gross Property Plant And Equipment	38.42M	39.04M	38.34M	26.29M	26.71M
Accumulated Depreciation	-19.96M	-25.91M	-30.73M	-16.05M	-17.33M
Net Property Plant And Equipment	18.46M	13.14M	7.61M	10.23M	9.37M
Long-term Investments	-	-	30.68M	33.65M	36.17M
Other Intangibles, Total	12.48M	18.66M	20.44M	24.91M	21.83M
Deferred Tax Assets Long-Term	4.6M	4.34M	5.65M	4.89M	4.25M
Other Long-Term Assets, Total	2.86M	2.86M	2.86M	2.86M	2.98M
Total Assets	547M	595M	592M	599M	632M
Liabilities
Accounts Payable, Total	-	-	-	-	-
Accrued Expenses, Total	13.58M	18.28M	14.96M	20.84M	15.56M
Current Portion of Leases	3.37M	3.97M	2.19M	2.59M	4.8M
Current Income Taxes Payable	12.59M	11.11M	10.47M	8.32M	8.4M
Other Current Liabilities	25.13M	40.04M	38.69M	31.06M	58.12M
Total Current Liabilities	54.67M	73.4M	66.32M	62.8M	86.88M
Long-Term Leases	10.1M	6.14M	2.47M	5.45M	2.58M
Pension & Other Post Retirement Benefits	23.38M	18.98M	23.18M	16.65M	18.07M
Other Non Current Liabilities	-	-	-	1.48M	1.48M
Total Liabilities	88.15M	98.52M	91.97M	86.39M	109M
Common Stock, Total	115M	115M	115M	115M	115M
Additional Paid In Capital	270M	270M	270M	270M	270M
Retained Earnings	72.68M	104M	106M	112M	138M
Comprehensive Income and Other	128K	6.84M	6.84M	13.96M	-144K
Total Common Equity	458M	495M	498M	511M	523M
Minority Interest	1.33M	1.37M	1.37M	1.27M	-
Total Equity	459M	497M	500M	513M	523M
Total Liabilities And Equity	547M	595M	592M	599M	632M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	230M	230M	230M	230M	230M
ECS Total Common Shares Outstanding	230M	230M	230M	230M	230M
Book Value / Share	1.99	2.15	2.17	2.22	2.28
Tangible Book Value	445M	477M	478M	486M	501M
Tangible Book Value Per Share	1.94	2.07	2.08	2.12	2.18
Total Debt	13.47M	10.11M	4.66M	8.04M	7.38M
Net Debt	-404M	-419M	-388M	-424M	-441M
Debt Equivalent of Unfunded Proj. Benefit Obligation	23.38M	18.98M	23.18M	16.65M	18.07M
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	1.33M	1.37M	1.37M	1.27M	-
Equity Method Investments, Total	-	-	30.68M	33.65M	36.17M
Account Code - Inventory Valuation	3	3	3	3	3
Buildings, Total	4.84M	4.84M	4.84M	5.58M	5.78M
Machinery, Total	5.73M	6.26M	6.76M	7.57M	8M
Full Time Employees	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	25.09M	25.47M	22.63M	25.08M	23.53M

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Net Income	97.48M	98.23M	100M	100M	101M
Depreciation & Amortization - CF	6.58M	6.5M	6.36M	5.92M	5.49M
Depreciation & Amortization, Total	6.58M	6.5M	6.36M	5.92M	5.49M
Amortization of Deferred Charges, Total - (CF)	311K	1.31M	1.54M	1.95M	3.07M
(Gain) Loss From Sale Of Asset	-724K	18.16K	-659K	-	-
(Gain) Loss on Sale of Investments - (CF)	19.67M	58.44K	5.84M	-705K	-163K
Asset Writedown & Restructuring Costs	-	-	317	34	16
(Income) Loss On Equity Investments - (CF)	-	-	-684K	-2.97M	-2.53M
Provision and Write-off of Bad Debts	-	-128K	-2.84M	2.5M	-1.54M
Other Operating Activities, Total	-19.65M	126K	318K	-2.19M	3.24M
Change In Accounts Receivable	-59.84M	-33.76M	-3.54M	38.6M	-19.48M
Change In Accounts Payable	-4.54M	17.14M	-5.03M	48.7K	21.77M
Change in Other Net Operating Assets	1.41M	612K	1.17M	-2.01M	-120K
Cash from Operations	40.7M	90.11M	103M	142M	111M
Capital Expenditure	-2.78M	-1.19M	-1.14M	-1.99M	-1.47M
Sale of Property, Plant, and Equipment	1.12M	-	962K	-	-
Sale (Purchase) of Intangible assets	-8.98M	-7.49M	-3.33M	-6.41M	-
Investment in Marketable and Equity Securities, Total	-237M	-95.92M	7.17M	-5.74M	5.07M
Other Investing Activities, Total	170K	617K	1.35M	1.59M	1.59M
Cash from Investing	-247M	-104M	5.01M	-12.56M	5.2M
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-5.85M	-3.37M	-3.97M	-3.18M	-3.81M
Total Debt Repaid	-5.85M	-3.37M	-3.97M	-3.18M	-3.81M
Issuance of Common Stock	306M	-	-	338K	-
Common Dividends Paid	-41.17M	-67.39M	-97.52M	-94.3M	-89.93M
Common & Preferred Stock Dividends Paid	-41.17M	-67.39M	-97.52M	-94.3M	-89.93M
Other Financing Activities, Total	-6.05M	-	-	-	-150K
Cash from Financing	253M	-70.76M	-101M	-97.14M	-93.89M
Miscellaneous Cash Flow Adjustments	-664K	560K	-	-5.54K	-22.88K
Net Change in Cash	45.99M	-84.08M	6.3M	31.8M	22.15M
Supplemental Items
Cash Interest Paid	730K	688K	475K	507K	548K
Cash Income Tax Paid (Refund)	21.65M	27.68M	27.34M	28.61M	25.07M
Levered Free Cash Flow	-14.29M	59.19M	75.21M	113M	91.81M
Unlevered Free Cash Flow	-13.83M	59.62M	75.51M	114M	92.15M
Change In Net Working Capital	67.96M	16.85M	10.01M	-37.01M	-3.1M
Net Debt Issued / Repaid	-5.85M	-3.37M	-3.97M	-3.18M	-3.81M

Fiscal Period: December	2021 (THB)	2022 (THB)	2023 (THB)	2024 (THB)	2025 (THB)
Profitability
Return on Assets	15.52	13.54	13.83	12.98	13.31
Return on Total Capital	20.05	15.79	16.26	15.08	15.59
Return On Equity %	34.76	20.56	20.14	19.81	19.41
Return on Common Equity	34.85	20.61	20.19	19.88	19.55
Margin Analysis
Gross Profit Margin %	75.42	76.72	76.9	76.98	77.75
SG&A Margin	34.23	25.9	24.35	29.22	30.75
EBITDA Margin %	41.94	51.49	53.22	48.44	47.66
EBITA Margin %	41.2	50.82	52.55	47.77	47
EBIT Margin %	41.2	50.82	52.55	47.77	47
Income From Continuing Operations Margin %	42.54	40.36	40.14	38.72	36.03
Net Income Margin %	42.55	40.34	40.13	38.76	36.25
Net Avail. For Common Margin %	42.55	40.34	40.13	38.76	36.25
Normalized Net Income Margin	32.99	31.57	31.43	30.38	29.16
Levered Free Cash Flow Margin	-6.24	24.31	30.09	43.82	32.91
Unlevered Free Cash Flow Margin	-6.03	24.48	30.21	43.94	33.03
Asset Turnover
Asset Turnover	0.6	0.43	0.42	0.43	0.45
Fixed Assets Turnover	12.68	15.41	24.09	29.01	28.46
Receivables Turnover (Average Receivables)	3.26	2.34	2.05	2.51	3.24
Short Term Liquidity
Current Ratio	9.31	7.58	7.91	8.32	6.42
Quick Ratio	9.24	7.45	7.74	8.12	6.18
Operating Cash Flow to Current Liabilities	0.74	1.23	1.55	2.25	1.28
Days Sales Outstanding (Average Receivables)	111.89	156.26	178.48	145.62	112.62
Long Term Solvency
Total Debt/Equity	2.93	2.03	0.93	1.57	1.41
Total Debt / Total Capital	2.85	1.99	0.92	1.54	1.39
LT Debt/Equity	2.2	1.24	0.49	1.06	0.49
Long-Term Debt / Total Capital	2.14	1.21	0.49	1.05	0.49
Total Liabilities / Total Assets	16.1	16.55	15.55	14.42	17.24
EBIT / Interest Expense	128.08	177.95	272.53	242.33	239.23
EBITDA / Interest Expense	137.01	187.29	285.73	253.94	249.25
(EBITDA - Capex) / Interest Expense	133.24	185.58	283.37	250.03	246.57
Total Debt / EBITDA	0.13	0.08	0.03	0.06	0.05
Net Debt / EBITDA	-4	-3.22	-2.82	-3.27	-3.23
Total Debt / (EBITDA - Capex)	0.14	0.08	0.03	0.06	0.05
Net Debt / (EBITDA - Capex)	-4.11	-3.25	-2.84	-3.32	-3.26
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	16.88	-5.02	2.64	3.6	7.75
Gross Profit, 1 Yr. Growth %	19.68	-6.62	2.89	3.71	8.82
EBITDA, 1 Yr. Growth %	0.04	1.66	6.09	-5.72	6.03
EBITA, 1 Yr. Growth %	0.43	1.73	6.15	-5.83	6.02
EBIT, 1 Yr. Growth %	0.43	1.73	6.15	-5.83	6.02
Earnings From Cont. Operations, 1 Yr. Growth %	31.6	0.83	2.08	-0.06	0.28
Net Income, 1 Yr. Growth %	31.64	0.76	2.12	0.04	0.77
Normalized Net Income, 1 Yr. Growth %	29.72	1.69	2.21	0.12	3.07
Diluted EPS Before Extra, 1 Yr. Growth %	-66.54	-2.62	2.12	0.04	0.77
Accounts Receivable, 1 Yr. Growth %	72.01	32.72	3.55	-35.2	12.75
Net Property, Plant and Equip., 1 Yr. Growth %	4.4	-28.84	-42.04	34.4	-8.43
Total Assets, 1 Yr. Growth %	157	8.76	-0.63	1.26	5.55
Tangible Book Value, 1 Yr. Growth %	356	7.04	0.21	1.82	3.08
Common Equity, 1 Yr. Growth %	351.14	8.2	0.56	2.64	2.32
Cash From Operations, 1 Yr. Growth %	-56.52	121.38	14.06	37.69	-21.66
Capital Expenditures, 1 Yr. Growth %	73.63	-57.13	-4.53	75.1	-82.51
Levered Free Cash Flow, 1 Yr. Growth %	-119.42	2.06K	27.08	50.85	-19.08
Unlevered Free Cash Flow, 1 Yr. Growth %	-118.67	1.76K	26.66	50.67	-19.01
Dividend Per Share, 1 Yr. Growth %	2.17K	22.64	2.56	0	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	31.51	11.45	-1.26	3.12	5.65
Gross Profit, 2 Yr. CAGR %	32.08	13.74	-1.98	3.3	6.23
EBITDA, 2 Yr. CAGR %	26.24	14.25	3.85	0.01	-0.02
EBITA, 2 Yr. CAGR %	29.09	14.74	3.91	-0.02	-0.08
EBIT, 2 Yr. CAGR %	29.09	14.74	3.91	-0.02	-0.08
Earnings From Cont. Operations, 2 Yr. CAGR %	48.77	15.19	1.45	1	0.11
Net Income, 2 Yr. CAGR %	48.79	15.17	1.44	1.08	0.4
Normalized Net Income, 2 Yr. CAGR %	46.91	14.85	1.95	1.16	1.76
Diluted EPS Before Extra, 2 Yr. CAGR %	-61.35	-42.92	-0.28	1.08	0.4
Accounts Receivable, 2 Yr. CAGR %	65.61	51.09	17.23	-18.09	-14.52
Net Property, Plant and Equip., 2 Yr. CAGR %	64.81	-13.81	-35.78	-11.74	10.94
Total Assets, 2 Yr. CAGR %	106.25	67.19	3.96	0.31	3.38
Tangible Book Value, 2 Yr. CAGR %	191.2	120.93	3.57	1.01	2.45
Common Equity, 2 Yr. CAGR %	185.25	120.94	4.31	1.6	2.48
Cash From Operations, 2 Yr. CAGR %	9.96	-1.89	58.9	25.32	3.86
Capital Expenditures, 2 Yr. CAGR %	44.19	-13.73	-36.03	29.29	13.7
Levered Free Cash Flow, 2 Yr. CAGR %	-3.4	-10.3	424.14	38.45	10.48
Unlevered Free Cash Flow, 2 Yr. CAGR %	-5.47	-10.27	385.9	38.14	10.47
Dividend Per Share, 2 Yr. CAGR %	-67.44	427.8	12.15	1.27	0
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	14.55	22.49	8.43	0.33	4.64
Gross Profit, 3 Yr. CAGR %	11.41	23.55	10	-0.12	5.11
EBITDA, 3 Yr. CAGR %	23.9	27.64	11.46	0.56	1.98
EBITA, 3 Yr. CAGR %	26.94	29.75	11.8	0.56	1.95
EBIT, 3 Yr. CAGR %	26.94	29.75	11.8	0.56	1.95
Earnings From Cont. Operations, 3 Yr. CAGR %	45.21	30.68	10.65	0.94	0.76
Net Income, 3 Yr. CAGR %	45.22	30.66	10.64	0.97	0.97
Normalized Net Income, 3 Yr. CAGR %	38.42	29.95	10.47	1.34	1.91
Diluted EPS Before Extra, 3 Yr. CAGR %	-40.87	-47.41	-30.7	-0.17	0.97
Accounts Receivable, 3 Yr. CAGR %	-38.26	53.83	33.21	-3.79	-8.88
Net Property, Plant and Equip., 3 Yr. CAGR %	30.3	24.57	-24.49	-17.85	-10.65
Total Assets, 3 Yr. CAGR %	-1.92	66.63	40.57	3.05	2.03
Tangible Book Value, 3 Yr. CAGR %	94.38	108.6	69.75	2.98	1.7
Common Equity, 3 Yr. CAGR %	92.77	106.49	69.95	3.75	1.84
Cash From Operations, 3 Yr. CAGR %	-13.05	38.85	3.16	51.49	7.15
Capital Expenditures, 3 Yr. CAGR %	76.12	-3.77	-10.77	-10.51	7.27
Levered Free Cash Flow, 3 Yr. CAGR %	-35.83	56.94	0.74	246.05	15.76
Unlevered Free Cash Flow, 3 Yr. CAGR %	-36.61	56.77	0.66	228.88	15.62
Dividend Per Share, 3 Yr. CAGR %	-55.75	-49.34	205.71	7.95	0.85
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	19.66	18.35	10.39	14.34	7.31
Gross Profit, 5 Yr. CAGR %	17.71	16.99	8.99	15.01	8.48
EBITDA, 5 Yr. CAGR %	-	-	21.36	15.77	6.72
EBITA, 5 Yr. CAGR %	15.61	32.53	23.27	16.9	6.89
EBIT, 5 Yr. CAGR %	15.61	32.53	23.27	16.9	6.89
Earnings From Cont. Operations, 5 Yr. CAGR %	22.05	36.81	25.81	17.88	6.3
Net Income, 5 Yr. CAGR %	22.05	36.8	25.81	17.91	6.43
Normalized Net Income, 5 Yr. CAGR %	21.57	32.62	22.48	17.56	6.9
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-20.76	-27.13	-31.7	-19.62
Accounts Receivable, 5 Yr. CAGR %	7.23	-14.75	-20.21	19.55	11.55
Net Property, Plant and Equip., 5 Yr. CAGR %	16.28	1.48	-1.82	8.53	-11.93
Total Assets, 5 Yr. CAGR %	21.96	5.03	0.39	36.02	24.31
Tangible Book Value, 5 Yr. CAGR %	47.98	55.21	51.11	56.08	38.7
Common Equity, 5 Yr. CAGR %	48.19	55.45	50.79	55.49	38.82
Cash From Operations, 5 Yr. CAGR %	-	-	10.66	33.27	3.44
Capital Expenditures, 5 Yr. CAGR %	-	-	17.46	8.3	-1.68
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	6.82	49.27	4.53
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	6.83	49.04	4.47
Dividend Per Share, 5 Yr. CAGR %	-30.77	-21.82	-35.81	-33.17	95.52