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	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating Revenue	1,186	1,238	1,066	893.9	823.38	633.92
Revenue	1,186	1,238	1,066	893.9	823.38	633.92
Revenue Growth (YoY)	2.25%	16.13%	19.25%	8.57%	29.89%	-1.40%
Cost of Revenue	947.56	992.09	856.52	748.82	667.53	508.47
Gross Profit	238.3	245.86	209.45	145.08	155.85	125.45
Selling, General & Admin	115.18	112.1	98.88	87.88	81.86	89.74
Operating Expenses	115.18	112.1	98.88	87.88	81.86	89.74
Operating Income	123.12	133.76	110.57	57.21	73.99	35.71
Interest Expense	-0.77	-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	-0.67	-0.64	-2.41	-1.84	-1.35	-
Currency Exchange Gain (Loss)	-6.05	-2.81	2.18	13.41	-0.91	-5.24
Other Non Operating Income (Expenses)	2.76	2.82	2.07	-0.51	1.4	-0.26
EBT Excluding Unusual Items	130.27	144.22	115.84	69.68	73.36	27.1
Gain (Loss) on Sale of Investments	0.42	0.47	0.19	-1.97	-0.04	-
Gain (Loss) on Sale of Assets	-	-	-	-	0.13	3.45
Pretax Income	130.69	144.69	116.03	67.71	73.46	30.54
Income Tax Expense	26.83	29.09	24.26	12.65	12.34	7
Net Income	103.85	115.6	91.77	55.06	61.11	23.55
Net Income to Common	103.85	115.6	91.77	55.06	61.11	23.55
Net Income Growth	-1.50%	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)	1.01	1.13	0.89	0.54	0.69	0.33
EPS (Diluted)	1.01	1.13	0.89	0.53	0.68	0.33
EPS Growth	-1.19%	26.42%	67.92%	-22.06%	106.06%	-66.67%
Free Cash Flow	142.67	60.75	83.33	10.48	34.25	73.23
Free Cash Flow Per Share	1.39	0.59	0.81	0.10	0.38	1.03
Dividend Per Share	0.900	0.900	0.450	0.300	0.180	-
Dividend Growth	100.00%	100.00%	50.00%	66.67%	-	-
Gross Margin	20.09%	19.86%	19.65%	16.23%	18.93%	19.79%
Operating Margin	10.38%	10.80%	10.37%	6.40%	8.99%	5.63%
Profit Margin	8.76%	9.34%	8.61%	6.16%	7.42%	3.72%
Free Cash Flow Margin	12.03%	4.91%	7.82%	1.17%	4.16%	11.55%
EBITDA	129.09	141.64	119.02	64.6	82.22	43.61
EBITDA Margin	10.89%	11.44%	11.16%	7.23%	9.99%	6.88%
D&A For EBITDA	5.97	7.88	8.45	7.4	8.24	7.9
EBIT	123.12	133.76	110.57	57.21	73.99	35.71
EBIT Margin	10.38%	10.80%	10.37%	6.40%	8.99%	5.63%
Effective Tax Rate	20.53%	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.