True Corporation (TRUE) Stock Overview
Provides telecommunications and value-added services in Thailand. More details
| Snowflake Score | |
|---|---|
| Valuation | 3/6 |
| Future Growth | 4/6 |
| Past Performance | 2/6 |
| Financial Health | 1/6 |
| Dividends | 0/6 |
Rewards
Risk Analysis
TRUE Community Fair Values
Create NarrativeSee what 17 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
True Corporation Public Company Limited Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | ฿13.80 |
| 52 Week High | ฿15.00 |
| 52 Week Low | ฿10.10 |
| Beta | -0.14 |
| 1 Month Change | -5.48% |
| 3 Month Change | -2.13% |
| 1 Year Change | 28.97% |
| 3 Year Change | 130.00% |
| 5 Year Change | 155.63% |
| Change since IPO | -94.51% |
Recent News & Updates
Narrative Update • Jun 07
TRUE: Stake Sale To Arise And Governance Changes Will Support Upside
Analysts have nudged their price target on True Corporation slightly higher to THB19.3 from THB19.0, citing updated assumptions around revenue growth, profit margins and forward P/E expectations. What's in the News Arise Digital Technology Company Limited completed the acquisition of a 24.95% stake in True Corporation from Telenor ASA for approximately THB100b at THB11.70 per share on March 13, 2026.
Narrative Update • May 24
TRUE: Stake Sale And Leadership Changes Will Shape A Steady Outlook
Analysts have revised their view on True Corporation, raising the price target to THB13.80 from THB12.73. This change reflects updated assumptions about discount rates, revenue trends, profit margins, and future P/E expectations.Narrative Update • May 07
TRUE: Stake Sale And Leadership Changes Will Shape A Balanced Outlook
Analysts have revised their price target for True Corporation to THB12.73 from THB11.35, citing updated assumptions for the discount rate, revenue, profit margin and future P/E multiples. What's in the News Arise Digital Technology Company Limited agreed to acquire a 24.95% stake in True Corporation from Telenor ASA for approximately THB 100b, with a cash consideration of THB 11.70 per share.Narrative Update • Apr 21
TRUE: Stake Sale To Arise And Governance Changes Will Support Upside
Analysts have kept their THB fair value estimate for True Corporation steady at THB19.0, with only small refinements to assumptions such as discount rate, revenue growth, profit margin and future P/E shaping the updated view. What's in the News Arise Digital Technology Company Limited agreed to acquire a 24.95% stake in True Corporation from Telenor ASA for approximately THB 100b at THB 11.70 per share, with a mutual put or call option in place for Telenor's remaining 5.35% stake two years after closing at the higher of THB 11.70 per share or the prevailing market price (Key Developments).Recent updates
Narrative Update • Jun 07
TRUE: Stake Sale To Arise And Governance Changes Will Support Upside
Analysts have nudged their price target on True Corporation slightly higher to THB19.3 from THB19.0, citing updated assumptions around revenue growth, profit margins and forward P/E expectations. What's in the News Arise Digital Technology Company Limited completed the acquisition of a 24.95% stake in True Corporation from Telenor ASA for approximately THB100b at THB11.70 per share on March 13, 2026.Narrative Update • May 24
TRUE: Stake Sale And Leadership Changes Will Shape A Steady Outlook
Analysts have revised their view on True Corporation, raising the price target to THB13.80 from THB12.73. This change reflects updated assumptions about discount rates, revenue trends, profit margins, and future P/E expectations.Narrative Update • May 07
TRUE: Stake Sale And Leadership Changes Will Shape A Balanced Outlook
Analysts have revised their price target for True Corporation to THB12.73 from THB11.35, citing updated assumptions for the discount rate, revenue, profit margin and future P/E multiples. What's in the News Arise Digital Technology Company Limited agreed to acquire a 24.95% stake in True Corporation from Telenor ASA for approximately THB 100b, with a cash consideration of THB 11.70 per share.Narrative Update • Apr 21
TRUE: Stake Sale To Arise And Governance Changes Will Support Upside
Analysts have kept their THB fair value estimate for True Corporation steady at THB19.0, with only small refinements to assumptions such as discount rate, revenue growth, profit margin and future P/E shaping the updated view. What's in the News Arise Digital Technology Company Limited agreed to acquire a 24.95% stake in True Corporation from Telenor ASA for approximately THB 100b at THB 11.70 per share, with a mutual put or call option in place for Telenor's remaining 5.35% stake two years after closing at the higher of THB 11.70 per share or the prevailing market price (Key Developments).Narrative Update • Apr 07
TRUE: Court Win And Stake Sale Will Support Future Upside
Analysts have kept their THB 19.00 price target for True Corporation steady, with small tweaks to assumptions around the discount rate, revenue growth, profit margin and future P/E that reflect largely unchanged long term expectations for the shares. What's in the News Arise Digital Technology Company Limited agreed to acquire a 24.95% stake in True Corporation from Telenor ASA for approximately THB 100b at THB 11.70 per share, with a mutual put/call option on Telenor's remaining 5.35% stake at the higher of THB 11.70 per share or the market price two years after closing (company announcement).Narrative Update • Mar 24
TRUE: Court Win And Governance Changes Will Support Future Upside
Analysts have raised the price target for True Corporation to THB19.0 from THB18.2, citing updated assumptions for the discount rate, revenue growth, profit margin, and a higher expected future P/E multiple. What's in the News Arise Digital Technology completed the acquisition of a 24.95% stake in True Corporation from Telenor ASA for about THB100b at THB11.70 per share on March 13, 2026, with Telenor retaining a 5.35% stake under a mutual put or call option arrangement (Key Developments).
Narrative Update • Mar 09
TRUE: Court Win Will Secure Margins And Support Future Upside
Analysts have marginally raised their price target for True Corporation from THB15.87 to THB15.96, citing updated assumptions for revenue growth, profit margins and future P/E as the main factors behind the revision. What's in the News Arise Digital Technology Company Limited agreed to acquire a 24.95% stake in True Corporation from Telenor ASA for approximately THB 100b.Narrative Update • Feb 23
TRUE: Future Stake Sale And Court Ruling Will Support Profit Margins
Analysts have adjusted their price target for True Corporation from THB15.16 to THB15.87. This reflects updated views on discount rate assumptions, a lower projected profit margin, and a higher future P/E multiple, despite a revised revenue growth outlook.Narrative Update • Feb 09
TRUE: Stake Sale, Court Ruling And Board Change Will Shape Outlook
Analysts have adjusted their price target for True Corporation to THB 11.35, reflecting updated assumptions on discount rate, revenue growth, profit margin, and future P/E that modestly refine their view of the company’s risk and earnings profile. What's in the News Arise Digital Technology Company Limited agreed to acquire a 24.95% stake in True Corporation from Telenor ASA for approximately THB 100b, with a cash consideration of THB 11.70 per share and an additional mutual put/call option on the remaining 5.35% two years after closing at the higher of THB 11.70 per share and the market price before the option period, subject to customary closing conditions (Key Developments).Narrative Update • Jan 25
TRUE: M&A Stake Sale Board Changes And Dividend Review Will Shape Outlook
Analysts now estimate True Corporation’s fair value at ฿11.35, revised from ฿11.99, citing updated assumptions related to the discount rate, revenue growth, profit margins, and future P/E expectations. What's in the News Arise Digital Technology Company Limited agreed to acquire a 24.95% stake in True Corporation from Telenor ASA for approximately ฿100b at ฿11.70 per share, with a mutual put and call option on the remaining 5.35% at the higher of ฿11.70 per share or the market price two years after closing, subject to customary conditions and expected to close within a few months (M&A Transaction Announcements).Narrative Update • Jan 10
TRUE: Board Changes And Dividend Policy Review Will Shape Balanced Outlook
Analysts have raised their fair value estimate for True Corporation from ฿10.97 to ฿11.99, citing updated assumptions for discount rates, revenue growth, profit margins, and future P/E levels as key drivers of the change. What's in the News Board meeting scheduled for December 18, 2025 to consider the resignation of Mr. Natwut Amornvivat from the Board, Corporate Governance and Sustainability Committee, and Executive Committee, and the appointment of Mr. Vichaow Rakphongphairoj to those roles effective the same day (Key Developments).Narrative Update • Dec 14
TRUE: Profitability Outlook And Dividend Decision Are Expected To Drive Upside
Analysts have nudged their price target for True Corporation slightly higher to THB 18.20 from THB 18.00, citing expectations for stronger revenue growth, improved profit margins, and a lower future price to earnings multiple. What's in the News True Corporation reaffirmed its 2025 earnings guidance, expecting flat to +1% year on year service revenue (excluding interconnection and domestic roaming with NT) and a return to profitability, despite macroeconomic headwinds and the impact of a one time network outage on mobile revenue (Key Developments).Narrative Update • Nov 23
TRUE: Profit Margins Will Improve Despite Flat Revenue Outlook
Analysts have raised their price target for True Corporation from ฿15.01 to ฿15.16. This reflects improved profit margin expectations, despite more conservative revenue growth forecasts and a higher discount rate.
New Narrative • Nov 13
Calculated Expansion And ESG Initiatives Drive Profitability Amid 5G Revolution In Thailand
True Corporation's network modernization and strategic digital expansion drive revenue growth and improve profitability with sustainable EBITDA growth.Shareholder Returns
| TRUE | TH Telecom | TH Market | |
|---|---|---|---|
| 7D | 0% | 1.4% | 1.5% |
| 1Y | 29.0% | 24.7% | 46.2% |
Return vs Industry: TRUE exceeded the TH Telecom industry which returned 24.7% over the past year.
Return vs Market: TRUE underperformed the TH Market which returned 46.2% over the past year.
Price Volatility
| TRUE volatility | |
|---|---|
| TRUE Average Weekly Movement | 3.4% |
| Telecom Industry Average Movement | 6.1% |
| Market Average Movement | 4.3% |
| 10% most volatile stocks in TH Market | 9.9% |
| 10% least volatile stocks in TH Market | 2.1% |
Stable Share Price: TRUE has not had significant price volatility in the past 3 months compared to the TH market.
Volatility Over Time: TRUE's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1990 | n/a | Sigve Brekke | www.true.th |
True Corporation Public Company Limited, together with its subsidiaries, provides telecommunications and value-added services in Thailand. The company operates through Mobile, Pay TV, and Broadband internet and others segments. It offers mobile, broadband Internet, Wi-Fi, television, and digital platforms and solutions.
True Corporation Public Company Limited Fundamentals Summary
| TRUE fundamental statistics | |
|---|---|
| Market cap | ฿483.73b |
| Earnings (TTM) | ฿14.20b |
| Revenue (TTM) | ฿190.63b |
33.6x
P/E Ratio2.5x
P/S RatioIs TRUE overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| TRUE income statement (TTM) | |
|---|---|
| Revenue | ฿190.63b |
| Cost of Revenue | ฿122.90b |
| Gross Profit | ฿67.72b |
| Other Expenses | ฿53.53b |
| Earnings | ฿14.20b |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 0.41 |
| Gross Margin | 35.53% |
| Net Profit Margin | 7.45% |
| Debt/Equity Ratio | 393.5% |
How did TRUE perform over the long term?
See historical performance and comparisonDividends
1.7%
Current Dividend Yield111%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/18 13:59 |
| End of Day Share Price | 2026/06/18 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
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 |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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
True Corporation Public Company Limited is covered by 39 analysts. 17 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 |
|---|---|
| Thitithep Nophaket | BofA Global Research |
| Kijapat Wongmetta | Bualuang Securities PCL |
| Prasit Sujiravorakul | Bualuang Securities PCL |