TPI Polene Power PCL Ratios and Metrics

Market cap in millions THB. Fiscal year is January - December.

Millions THB. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 23, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Debt / Equity Ratio	1.24	1.24	1.24	1.32	1.14	1.18
Debt / EBITDA Ratio	8.85	8.85	10.28	8.98	5.62	5.62
Debt / FCF Ratio	1253.48	1253.48	-	117.72	30.92	78.08
Net Debt / Equity Ratio	1.13	1.13	1.10	1.03	0.97	1.09
Net Debt / EBITDA Ratio	8.18	8.18	9.26	7.19	4.85	5.24
Net Debt / FCF Ratio	1140.02	1140.02	-41.35	92.40	26.30	71.58
Quick Ratio	0.49	0.49	0.68	0.76	0.68	0.52
Current Ratio	1.14	1.14	1.39	1.38	1.54	1.44
Asset Turnover	0.22	0.22	0.22	0.28	0.34	0.30
Return on Equity (ROE)	4.06%	4.06%	3.75%	6.76%	13.03%	12.61%
Return on Assets (ROA)	2.34%	2.34%	1.81%	2.51%	4.20%	4.35%
Return on Capital Employed (ROCE)	4.50%	4.50%	3.50%	4.80%	7.90%	8.10%
Payout Ratio	25.95%	28.42%	118.14%	58.84%	24.32%	20.24%
Buyback Yield / Dilution	-	-	-	0.04%	0.83%	-1.05%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.