Carabao Group PCL (BKK:CBG)

Carabao Group PCL Income Statement

Financials in millions THB. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Revenue	20,392	19,645	17,681	18,077	16,173
Other Revenue	0.83	1.36	2	4.59	1.34
Revenue	20,393	19,647	17,683	18,082	16,174
Revenue Growth (YoY)	3.80%	11.11%	-2.21%	11.79%	1.57%
Cost of Revenue	14,549	13,924	12,801	12,444	9,990
Gross Profit	5,844	5,722	4,881	5,638	6,185
Selling, General & Admin	2,400	2,349	2,660	3,078	2,945
Other Operating Expenses	-159.05	-188.96	-157.79	-214.63	-134.1
Operating Expenses	2,241	2,160	2,502	2,864	2,810
Operating Income	3,604	3,562	2,379	2,774	3,374
Interest Expense	-80.76	-145.73	-183.21	-115.09	-88.71
Interest & Investment Income	4.71	5.77	4.8	0.99	1.01
Earnings From Equity Investments	15.1	14.45	8.5	4.56	-
Currency Exchange Gain (Loss)	-	4.27	10.32	-	64.98
EBT Excluding Unusual Items	3,543	3,441	2,219	2,665	3,351
Impairment of Goodwill	-517.68	-	-	-	-
Gain (Loss) on Sale of Assets	1.95	5.79	5.96	3.78	4.58
Pretax Income	3,027	3,447	2,237	2,684	3,356
Income Tax Expense	736.33	619.46	336.84	432.82	513.27
Earnings From Continuing Operations	2,291	2,827	1,900	2,251	2,843
Minority Interest in Earnings	28.98	15.48	23.93	35.01	38.2
Net Income	2,320	2,843	1,924	2,286	2,881
Net Income to Common	2,320	2,843	1,924	2,286	2,881
Net Income Growth	-18.40%	47.73%	-15.83%	-20.65%	-18.27%
Shares Outstanding (Basic)	1,000	1,000	1,000	1,000	1,000
Shares Outstanding (Diluted)	1,000	1,000	1,000	1,000	1,000
EPS (Basic)	2.32	2.84	1.92	2.29	2.88
EPS (Diluted)	2.32	2.84	1.92	2.29	2.88
EPS Growth	-18.40%	47.73%	-15.83%	-20.65%	-18.27%
Free Cash Flow	2,631	4,197	3,049	1,696	1,306
Free Cash Flow Per Share	2.63	4.20	3.05	1.70	1.31
Dividend Per Share	1.300	1.300	0.900	1.500	1.900
Dividend Growth	-	44.44%	-40.00%	-21.05%	-20.83%
Gross Margin	28.66%	29.13%	27.61%	31.18%	38.24%
Operating Margin	17.67%	18.13%	13.45%	15.34%	20.86%
Profit Margin	11.37%	14.47%	10.88%	12.64%	17.81%
Free Cash Flow Margin	12.90%	21.36%	17.24%	9.38%	8.07%
EBITDA	4,300	4,272	3,075	3,467	4,016
EBITDA Margin	21.09%	21.74%	17.39%	19.18%	24.83%
D&A For EBITDA	696.45	709.84	696.23	693.15	642.22
EBIT	3,604	3,562	2,379	2,774	3,374
EBIT Margin	17.67%	18.13%	13.45%	15.34%	20.86%
Effective Tax Rate	24.33%	17.97%	15.06%	16.13%	15.29%
Revenue as Reported	22,204	21,165	19,041	19,454	17,569
Advertising Expenses	398.66	465.91	673.16	729.63	755.05

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.