Thai Solar Energy PCL (BKK:TSE)

Thailand · Delayed Price · Currency is THB

0.8200

-0.0500 (-5.75%)

Jul 24, 2026, 4:35 PM ICT

Thai Solar Energy PCL Financials Overview

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

Millions THB. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 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
Revenue	1,280	1,299	1,228	1,261	1,313	1,524
Revenue Growth	1.43%	5.72%	-2.56%	-4.02%	-13.83%	-0.42%
Net Income	36.88	46.74	-501.21	-2,981	723.77	492.71
Earnings Per Share	0.02	0.02	-0.24	-1.41	0.34	0.23
EPS Growth	-	-	-	-	46.90%	16.91%

Revenue by Segment

Fiscal Year	TTM	FY 2025	FY 2024
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024
Power Plants	1,191	1,185	1,155
Management Services	162.01	174.95	174.95
Others	53.42	58.99	-
Elimination	-126.64	-120.04	-101.42
Total	1,280	1,299	1,228

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 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
Cash & Investments	1,035	684.49	362.43	1,945	363.12	849.54
Total Debt	3,484	3,281	4,249	6,296	13,719	13,039
Net Cash (Debt)	-2,449	-2,596	-3,887	-4,350	-13,356	-12,190
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-1.16	-1.23	-1.84	-2.05	-6.31	-5.76

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 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
Operating Cash Flow	301.27	346.24	373.41	868.98	-156.83	519.53
Capital Expenditures	-214.1	-271.81	-497.49	-1,901	-3,002	-1,768
Free Cash Flow	87.17	74.43	-124.07	-1,032	-3,159	-1,249
Free Cash Flow Growth	-	-	-	-	-	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 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
Pretax Margin	3.53%	3.13%	-40.18%	-81.90%	61.73%	32.91%
Profit Margin	2.88%	3.60%	-40.80%	-236.48%	55.11%	32.33%
FCF Margin	6.81%	5.73%	-10.10%	-81.84%	-240.52%	-81.94%

Dividends

Fiscal Year	FY 2023	FY 2022	FY 2021
Period Ending	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Dividend Per Share	0.140	-	0.075
Dividend Per Share Growth	-	-	50.00%
Dividend Yield	8.56%	-	3.15%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul '26 Jul 25, 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
PE Ratio	47.04	21.27	-	-	6.85	11.26
Forward PE	-	18.21	18.21	18.21	18.21	18.21
P/FCF Ratio	19.90	13.36	-	-	-	-
PS Ratio	1.35	0.77	1.55	2.86	3.77	3.64