Master Style PCL (BKK:MASTER)

Master Style PCL Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating Revenue	2,050	2,135	1,917	1,483	659.51	609.78
Other Revenue	14.13	21.45	26.83	7.46	30.47	-
Revenue	2,064	2,157	1,944	1,490	689.98	609.78
Revenue Growth (YoY)	-0.26%	10.96%	30.44%	115.96%	13.15%	47.28%
Cost of Revenue	872.23	855.48	784.87	641.25	311.65	307.93
Gross Profit	1,192	1,301	1,159	848.8	378.33	301.85
Selling, General & Admin	747.53	702.23	633.92	462.82	167.13	139.84
Other Operating Expenses	-	-	-	-	-	-4.38
Operating Expenses	747.53	702.23	633.92	462.82	167.13	135.47
Operating Income	444.44	598.81	524.8	385.99	211.2	166.39
Interest Expense	-30.12	-18.46	-13.88	-9.12	-6.92	-5.48
Interest & Investment Income	4.84	6.13	5.34	0.31	0.18	-
Earnings From Equity Investments	44.27	51.31	4.77	-	-	-
Pretax Income	463.43	637.79	521.03	377.17	204.47	160.9
Income Tax Expense	84.6	115.35	104.73	76.25	41.67	33.37
Earnings From Continuing Operations	378.83	522.45	416.3	300.92	162.8	127.53
Net Income	378.83	522.45	416.3	300.92	162.8	127.53
Net Income to Common	378.83	522.45	416.3	300.92	162.8	127.53
Net Income Growth	-17.46%	25.50%	38.34%	84.84%	27.65%	108.23%
Shares Outstanding (Basic)	302	302	299	222	127	107
Shares Outstanding (Diluted)	302	302	299	222	127	107
Shares Change (YoY)	-0.00%	0.87%	35.02%	74.48%	18.62%	896.89%
EPS (Basic)	1.26	1.73	1.39	1.36	1.28	1.19
EPS (Diluted)	1.26	1.73	1.39	1.36	1.28	1.19
EPS Growth	-17.46%	24.41%	2.46%	5.94%	7.62%	-79.11%
Free Cash Flow	321.02	49.62	-282.68	185.95	206.9	162.36
Free Cash Flow Per Share	1.06	0.16	-0.94	0.84	1.63	1.52
Dividend Per Share	0.800	0.800	0.022	0.239	1.193	0.795
Dividend Growth	5870.15%	3503.60%	-90.70%	-80.00%	49.99%	-
Gross Margin	57.75%	60.33%	59.62%	56.96%	54.83%	49.50%
Operating Margin	21.53%	27.77%	27.00%	25.90%	30.61%	27.29%
Profit Margin	18.35%	24.23%	21.42%	20.20%	23.59%	20.91%
Free Cash Flow Margin	15.55%	2.30%	-14.54%	12.48%	29.99%	26.63%
EBITDA	584.03	714	574.55	409.95	231.04	185.22
EBITDA Margin	28.29%	33.11%	29.56%	27.51%	33.48%	30.38%
D&A For EBITDA	139.59	115.19	49.75	23.97	19.83	18.83
EBIT	444.44	598.81	524.8	385.99	211.2	166.39
EBIT Margin	21.53%	27.77%	27.00%	25.90%	30.61%	27.29%
Effective Tax Rate	18.25%	18.09%	20.10%	20.22%	20.38%	20.74%
Revenue as Reported	2,064	2,157	1,944	1,490	689.98	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.