Starflex PCL (BKK:SFLEX)

Starflex 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	1,984	1,985	1,896	1,818	1,696	1,727
Revenue Growth	4.34%	4.71%	4.30%	7.18%	-1.83%	22.21%
Gross Profit Gross Profit Growth	501.67	495.7	488.04	452.77	237.76	313.26
Operating Income Operating Income Growth	263.72	261.92	292.87	229.89	67.29	160.86
Net Income Net Income Growth	239.75	243.23	280.76	184.25	55.07	149.42
Earnings Per Share EPS Growth	0.32	0.32	0.36	0.23	0.07	0.18
EPS Growth	-12.12%	-11.70%	55.18%	244.72%	-62.69%	3.36%

Revenue by Segment

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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
Food Packaging Food Packaging Growth	252.86	259.29	279.06	353.59	392.82	364.77
Non-Food Packaging Non-Food Packaging Growth	1,709	1,704	1,581	1,413	1,258	1,309
Others Others Growth	0.15	0.16	11.58	30.31	17.94	3.13
Unallocated Other Income Unallocated Other Income Growth	21.97	22.16	26.68	22.93	26.89	50.16
Elimination of Inter-segment Elimination of Inter-segment Growth	-	-0.08	-2.72	-2.15	-	-
Total Total Growth	1,984	1,985	1,896	1,818	1,696	1,727

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	98.39	93.75	62.08	80.78	129.08	74.83
Total Debt Total Debt Growth	649.05	660.91	683.76	648.26	289.39	204.93
Net Cash (Debt) Net Cash Growth	-550.66	-567.17	-621.68	-567.47	-160.31	-130.1
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share Net Cash Per Share Growth	-0.73	-0.74	-0.80	-0.71	-0.20	-0.16

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	375.69	350.64	215.56	242.43	175.08	43.81
Capital Expenditures CapEx Growth	-75.92	-53.88	-107.69	-53.85	-185.37	-174.43
Free Cash Flow Free Cash Flow Growth	299.77	296.75	107.87	188.57	-10.29	-130.62
Free Cash Flow Growth	187.99%	175.11%	-42.80%	-	-	-

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	25.29%	24.97%	25.74%	24.91%	14.02%	18.14%
Operating Margin	13.29%	13.20%	15.45%	12.65%	3.97%	9.31%
Pretax Margin	11.89%	12.12%	15.01%	12.28%	3.82%	9.08%
Profit Margin	12.08%	12.25%	14.81%	10.14%	3.25%	8.65%
FCF Margin	15.11%	14.95%	5.69%	10.38%	-0.61%	-7.56%

Dividends

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug 11, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Dividend Per Share Dividend Per Share Growth	0.170	0.170	0.133	0.090	0.030	0.085
Dividend Per Share Growth	27.82%	27.82%	47.78%	200.00%	-64.71%	-46.88%
Dividend Yield	5.70%	5.50%	5.05%	2.82%	1.15%	1.95%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug 11, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	9.72	9.69	7.91	15.39	44.37	27.72
Forward PE	9.69	8.97	9.08	13.70	28.38	21.49
P/FCF Ratio	7.68	7.94	20.58	15.03	-	-
PS Ratio	1.16	1.19	1.17	1.56	1.44	2.40

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:

Aug 11, 2026

Data Sources Report a data error