Forth Smart Service PCL (BKK:FSMART)

Forth Smart Service PCL Financials Overview

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

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	2,280	2,339	2,340	2,217	2,448	2,670
Revenue Growth	-3.87%	-0.06%	5.57%	-9.46%	-8.31%	-6.66%
Gross Profit Gross Profit Growth	750.97	747.23	698.67	581.62	611.21	526.99
Operating Income Operating Income Growth	367.2	398.1	400.2	273.3	312.71	490.23
Net Income Net Income Growth	569.51	586.78	430.45	299.45	301.89	400.06
Earnings Per Share EPS Growth	0.76	0.78	0.57	0.40	0.40	0.53
EPS Growth	16.29%	36.32%	43.75%	-0.81%	-24.54%	-13.00%

Revenue by Segment

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023
Top-up Machine Top-up Machine Growth	2,049	2,074	2,108	2,013
Unallocated Adjustments and Eliminations Unallocated Adjustments and Eliminations Growth	-	-	-0.07	-
Lending Lending Growth	414.83	432.71	207.48	51.35
Unallocated Other Income Unallocated Other Income Growth	161.17	164.84	159.73	190.88
Total Total Growth	2,624	2,672	2,475	2,255

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	804.98	392.11	264.69	270.2	281.8	364.03
Total Debt Total Debt Growth	994.12	879.82	926.66	335.13	472.45	489.03
Net Cash (Debt) Net Cash Growth	-189.14	-487.7	-661.96	-64.93	-190.65	-125.01
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share Net Cash Per Share Growth	-0.25	-0.65	-0.88	-0.09	-0.25	-0.17

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	663.97	479.67	-241.44	551.05	604.07	1,026
Capital Expenditures CapEx Growth	-130.43	-131.66	-48.81	-107.05	-145.05	-111.87
Free Cash Flow Free Cash Flow Growth	533.54	348.01	-290.25	444	459.02	914.39
Free Cash Flow Growth	-	-	-	-3.27%	-49.80%	-6.59%

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	32.94%	31.95%	29.85%	26.24%	24.96%	19.73%
Operating Margin	16.11%	17.02%	17.10%	12.33%	12.77%	18.36%
Pretax Margin	30.96%	31.06%	23.27%	16.34%	15.15%	18.08%
Profit Margin	24.98%	25.09%	18.39%	13.51%	12.33%	14.98%
FCF Margin	23.41%	14.88%	-12.40%	20.03%	18.75%	34.24%

Dividends

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul 28, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Dividend Per Share Dividend Per Share Growth	0.400	0.380	0.230	0.360	0.360	0.460
Dividend Per Share Growth	0%	65.22%	-36.11%	0%	-21.74%	-23.33%
Dividend Yield	5.06%	6.03%	3.03%	5.55%	3.27%	4.63%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul 28, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	10.45	8.34	14.09	18.49	32.18	22.59
Forward PE	8.98	6.79	16.67	16.67	12.37	12.37
P/FCF Ratio	11.15	14.07	-	12.47	21.17	9.88
PS Ratio	2.61	2.09	2.59	2.50	3.97	3.38

Data Source: S&P Global Market Intelligence Last updated: Mar 31, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Jul 28, 2026

Data Sources Report a data error