Next Capital (NCAP) Stock Overview

Provides motorcycle hire-purchase and loans secured against vehicle registrations in Thailand. More details

NCAP fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	0/6
Past Performance	5/6
Financial Health	3/6
Dividends	0/6

Rewards

Price-To-Earnings ratio (11.3x) is below the TH market (11.5x)

Earnings grew by 136.2% over the past year

Risk Analysis

Debt is not well covered by operating cash flow

Volatile share price over the past 3 months compared to the TH market

NCAP Community Fair Values

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Next Capital Public Company Limited Competitors

Price History & Performance

Summary of share price highs, lows and changes for Next Capital
Historical stock prices
Current Share Price	฿2.90
52 Week High	฿3.82
52 Week Low	฿1.21
Beta	0.52
1 Month Change	39.42%
3 Month Change	16.00%
1 Year Change	89.54%
3 Year Change	-35.27%
5 Year Change	n/a
Change since IPO	-5.23%

Recent updates

Shareholder Returns

	NCAP	TH Consumer Finance	TH Market
7D	16.9%	9.2%	4.3%
1Y	89.5%	-22.3%	-13.1%

Return vs Industry: NCAP exceeded the TH Consumer Finance industry which returned -22.3% over the past year.

Return vs Market: NCAP exceeded the TH Market which returned -13.1% over the past year.

Price Volatility

Is NCAP's price volatile compared to industry and market?
NCAP volatility
NCAP Average Weekly Movement	10.9%
Consumer Finance Industry Average Movement	6.6%
Market Average Movement	5.1%
10% most volatile stocks in TH Market	11.0%
10% least volatile stocks in TH Market	2.4%

Stable Share Price: NCAP's share price has been volatile over the past 3 months compared to the TH market.

Volatility Over Time: NCAP's weekly volatility (11%) has been stable over the past year, but is still higher than 75% of TH stocks.

About the Company

Founded	Employees	CEO	Website
2004	n/a	Pruttipang Tayarachkul	www.nextcapital.co.th

Next Capital Public Company Limited provides motorcycle hire-purchase and loans secured against vehicle registrations in Thailand. The company offers hire purchase for new motorcycles and hire purchase for second hand motorcycle. It also provides vehicle registration services; and vehicle insurance services.

Next Capital Public Company Limited Fundamentals Summary

How do Next Capital's earnings and revenue compare to its market cap?
NCAP fundamental statistics
Market cap	฿3.81b
Earnings (TTM)	฿345.47m
Revenue (TTM)	฿1.12b

11.3x

P/E Ratio

3.5x

P/S Ratio

Is NCAP overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
NCAP income statement (TTM)
Revenue	฿1.12b
Cost of Revenue	฿663.11m
Gross Profit	฿458.58m
Other Expenses	฿113.11m
Earnings	฿345.47m

Last Reported Earnings

Mar 31, 2025

Next Earnings Date

n/a

Earnings per share (EPS)	0.26
Gross Margin	40.88%
Net Profit Margin	30.80%
Debt/Equity Ratio	105.6%

How did NCAP perform over the long term?

See historical performance and comparison

Dividends

0.8%

Current Dividend Yield

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/07/17 11:52
End of Day Share Price	2025/07/17 00:00
Earnings	2025/03/31
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Next Capital Public Company Limited is covered by 2 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Wikij Tirawannarat	Bualuang Securities PCL
Anakepong Putthapibal	Bualuang Securities PCL

Next Capital (NCAP) Stock Overview

Rewards

Risk Analysis

Next Capital Public Company Limited Competitors

Heng Leasing and Capital

Asia Sermkij Leasing

Saksiam Leasing

Srisawad Capital 1969

Price History & Performance

Recent News & Updates

Investor sentiment improves as stock rises 17%

Investor sentiment improves as stock rises 16%

New minor risk - Market cap size

First quarter 2025 earnings released: EPS: ฿0.10 (vs ฿0.021 in 1Q 2024)

Investor sentiment improves as stock rises 19%

Investor sentiment improves as stock rises 15%

Recent updates

Investor sentiment improves as stock rises 17%

Investor sentiment improves as stock rises 16%

New minor risk - Market cap size

First quarter 2025 earnings released: EPS: ฿0.10 (vs ฿0.021 in 1Q 2024)

Investor sentiment improves as stock rises 19%

Investor sentiment improves as stock rises 15%

Investor sentiment improves as stock rises 24%

Full year 2024 earnings released: EPS: ฿0.18 (vs ฿0.19 in FY 2023)

Next Capital Public Company Limited Proposes Cash Dividend for the Operating Period from Jan. 1, 2024 to Dec. 31, 2024, Payable on 15 May 2025

Next Capital Public Company Limited, Annual General Meeting, Apr 21, 2025

Investor sentiment improves as stock rises 23%

Next Capital Public Company Limited Announces Chief of Executive Officer Changes

Third quarter 2024 earnings released: EPS: ฿0.05 (vs ฿0.025 in 3Q 2023)

Investor sentiment improves as stock rises 19%

Investor sentiment deteriorates as stock falls 17%

Investor sentiment improves as stock rises 21%

Investor sentiment improves as stock rises 23%

New major risk - Share price stability

Now 38% overvalued

Second quarter 2024 earnings released: EPS: ฿0.04 (vs ฿0.031 in 2Q 2023)

Next Capital Public Company Limited Announces Board Changes

Investor sentiment deteriorates as stock falls 18%

New minor risk - Share price stability

Investor sentiment deteriorates as stock falls 19%

New minor risk - Profit margin trend

Next Capital Public Company Limited, Annual General Meeting, Apr 22, 2024

Investor sentiment deteriorates as stock falls 15%

Full year 2023 earnings released: EPS: ฿0.19 (vs ฿0.14 in FY 2022)

Next Capital Public Company Limited Announces Chief Executive Officer Changes, Effective from February 13, 2024

New minor risk - Market cap size

New minor risk - Market cap size

New major risk - Earnings quality

Next Capital Public Company Limited Appoints Pruttipang Tayarachkul as Acting Chief Executive Officer, Effective November 28, 2023 Onwards

Next Capital Public Company Limited Announces Resignation of Punnamas Vichitkulwongsa as Director, Chairman of the Executive Committee, Member of the Risk Management Committee, Effective from November 28, 2023

Investor sentiment deteriorates as stock falls 15%

New minor risk - Market cap size

Second quarter 2023 earnings released: EPS: ฿0.03 (vs ฿0.013 in 2Q 2022)

Investor sentiment deteriorates as stock falls 18%

Investor sentiment deteriorates as stock falls 17%

Investor sentiment improves as stock rises 32%

Investor sentiment deteriorates as stock falls 17%

Full year 2022 earnings: EPS and revenues exceed analyst expectations

Investor sentiment improves as stock rises 26%

Investor sentiment improved over the past week

Investor sentiment deteriorated over the past week

Investor sentiment improved over the past week

Now 20% undervalued after recent price drop

Price target decreased to ฿3.45

Less than half of directors are independent

Third quarter 2022 earnings released: EPS: ฿0.01 (vs ฿0.082 in 3Q 2021)

Next Capital Public Company Limited Announces the Resignation of Phira Chompoosri as Director

Now 22% undervalued after recent price drop

Consensus forecasts updated

Second quarter 2022 earnings released: EPS: ฿0.01 (vs ฿0.083 in 2Q 2021)

Now 23% undervalued after recent price drop

Now 23% undervalued after recent price drop

Next Capital Public Company Limited has completed a Follow-on Equity Offering in the amount of THB 2.025 billion.

First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Consensus forecasts updated

Investor sentiment deteriorated over the past week

Price target decreased to ฿14.90

Less than half of directors are independent

Next Capital Public Company Limited, Annual General Meeting, Apr 21, 2022