nForce Secure PCL (BKK:SECURE)

nForce Secure 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	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating Revenue	1,254	1,238	1,066	893.9	823.38	633.92
Revenue	1,254	1,238	1,066	893.9	823.38	633.92
Revenue Growth (YoY)	11.95%	16.13%	19.25%	8.57%	29.89%	-1.40%
Cost of Revenue	989.59	992.09	856.52	748.82	667.53	508.47
Gross Profit	264.74	245.86	209.45	145.08	155.85	125.45
Selling, General & Admin	117.39	112.1	98.88	87.88	81.86	89.74
Operating Expenses	117.39	112.1	98.88	87.88	81.86	89.74
Operating Income	147.35	133.76	110.57	57.21	73.99	35.71
Interest Expense	-0.93	-0.78	-0.8	-0.83	-1.41	-3.39
Interest & Investment Income	11.87	11.87	4.23	2.23	1.65	0.28
Earnings From Equity Investments	-0.72	-0.64	-2.41	-1.84	-1.35	-
Currency Exchange Gain (Loss)	-11.16	-2.81	2.18	13.41	-0.91	-5.24
Other Non Operating Income (Expenses)	1.29	2.82	2.07	-0.51	1.4	-0.26
EBT Excluding Unusual Items	147.69	144.22	115.84	69.68	73.36	27.1
Gain (Loss) on Sale of Investments	0.4	0.47	0.19	-1.97	-0.04	-
Gain (Loss) on Sale of Assets	-	-	-	-	0.13	3.45
Pretax Income	148.09	144.69	116.03	67.71	73.46	30.54
Income Tax Expense	30.08	29.09	24.26	12.65	12.34	7
Net Income	118.01	115.6	91.77	55.06	61.11	23.55
Net Income to Common	118.01	115.6	91.77	55.06	61.11	23.55
Net Income Growth	18.91%	25.97%	66.66%	-9.90%	159.53%	-60.38%
Shares Outstanding (Basic)	103	103	103	103	89	71
Shares Outstanding (Diluted)	103	103	103	103	89	71
Shares Change (YoY)	-	-	-0.27%	15.15%	25.81%	18.52%
EPS (Basic)	1.15	1.13	0.89	0.54	0.69	0.33
EPS (Diluted)	1.15	1.13	0.89	0.53	0.68	0.33
EPS Growth	19.31%	26.42%	67.92%	-22.06%	106.06%	-66.67%
Free Cash Flow	161.32	60.75	83.33	10.48	34.25	73.23
Free Cash Flow Per Share	1.57	0.59	0.81	0.10	0.38	1.03
Dividend Per Share	0.700	0.900	0.450	0.300	0.180	-
Dividend Growth	7.69%	100.00%	50.00%	66.67%	-	-
Gross Margin	21.11%	19.86%	19.65%	16.23%	18.93%	19.79%
Operating Margin	11.75%	10.80%	10.37%	6.40%	8.99%	5.63%
Profit Margin	9.41%	9.34%	8.61%	6.16%	7.42%	3.72%
Free Cash Flow Margin	12.86%	4.91%	7.82%	1.17%	4.16%	11.55%
EBITDA	151.77	141.64	119.02	64.6	82.22	43.61
EBITDA Margin	12.10%	11.44%	11.16%	7.23%	9.99%	6.88%
D&A For EBITDA	4.42	7.88	8.45	7.4	8.24	7.9
EBIT	147.35	133.76	110.57	57.21	73.99	35.71
EBIT Margin	11.75%	10.80%	10.37%	6.40%	8.99%	5.63%
Effective Tax Rate	20.31%	20.10%	20.91%	18.68%	16.80%	22.90%
Advertising Expenses	-	10.15	3.36	2.53	1.56	3.78

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