TPCH Stock Overview

Generates and distributes electricity in Thailand. More details

TPCH fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	0/6
Past Performance	2/6
Financial Health	3/6
Dividends	4/6

Rewards

Trading at 37.6% below our estimate of its fair value

Risk Analysis

Debt is not well covered by operating cash flow

Earnings have declined by 1.5% per year over past 5 years

Does not have a meaningful market cap (THB1B)

Unstable dividend track record

Community vs My Fair Value

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TPC Power Holding Public Company Limited Competitors

Earth Tech Environment

SET:ETC

฿2.8b

Green Resources

SET:GREEN

฿752.6m

Thachang Green Energy

SET:TGE

฿3.8b

Super Energy Corporation

SET:SUPER

฿5.2b

Price History & Performance

Summary of share price highs, lows and changes for TPC Power Holding
Historical stock prices
Current Share Price	฿3.46
52 Week High	฿7.85
52 Week Low	฿3.46
Beta	0.78
1 Month Change	-16.02%
3 Month Change	-33.46%
1 Year Change	-47.97%
3 Year Change	-68.26%
5 Year Change	-65.40%
Change since IPO	-75.11%

Recent updates

Shareholder Returns

	TPCH	TH Renewable Energy	TH Market
7D	-13.9%	-4.9%	-2.0%
1Y	-48.0%	-19.5%	-11.5%

Return vs Industry: TPCH underperformed the TH Renewable Energy industry which returned -21.7% over the past year.

Return vs Market: TPCH underperformed the TH Market which returned -11.8% over the past year.

Price Volatility

Is TPCH's price volatile compared to industry and market?
TPCH volatility
TPCH Average Weekly Movement	4.0%
Renewable Energy Industry Average Movement	5.0%
Market Average Movement	4.8%
10% most volatile stocks in TH Market	9.6%
10% least volatile stocks in TH Market	2.2%

Stable Share Price: TPCH has not had significant price volatility in the past 3 months compared to the TH market.

Volatility Over Time: TPCH's weekly volatility (4%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2012	n/a	Cherdsak Wattanavijitkul	www.tpcpower.co.th

TPC Power Holding Public Company Limited, together with its subsidiaries, generates and distributes electricity in Thailand. It produces electricity from biomass, hydro, solar, wind, waste, and biogas. The company was incorporated in 2012 and is headquartered in Bangkok, Thailand.

TPC Power Holding Public Company Limited Fundamentals Summary

How do TPC Power Holding's earnings and revenue compare to its market cap?
TPCH fundamental statistics
Market cap	฿1.39b
Earnings (TTM)	฿234.30m
Revenue (TTM)	฿2.37b

5.9x

P/E Ratio

0.6x

P/S Ratio

Is TPCH overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
TPCH income statement (TTM)
Revenue	฿2.37b
Cost of Revenue	฿1.63b
Gross Profit	฿736.06m
Other Expenses	฿501.76m
Earnings	฿234.30m

Last Reported Earnings

Dec 31, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	0.58
Gross Margin	31.12%
Net Profit Margin	9.91%
Debt/Equity Ratio	98.3%

How did TPCH perform over the long term?

See historical performance and comparison

Dividends

11.4%

Current Dividend Yield

68%

Payout Ratio

Does TPCH pay a reliable dividends?

See TPCH dividend history and benchmarks

When do you need to buy TPCH by to receive an upcoming dividend?
TPC Power Holding dividend dates
Ex Dividend Date	Apr 29 2025
Dividend Pay Date	May 15 2025
Days until Ex dividend	66 days
Days until Dividend pay date	82 days

Does TPCH pay a reliable dividends?

See TPCH dividend history and benchmarks

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/02/21 11:08
End of Day Share Price	2025/02/21 00:00
Earnings	2024/12/31
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

TPC Power Holding Public Company Limited is covered by 6 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
Nalinrat Kittikumpolrat	Asia Plus Securities Company Limited
Suwat Sinsadok	BNP Paribas Securities (Asia)
Suwat Sinsadok	CGS International

TPCH Stock Overview

Rewards

Risk Analysis

TPC Power Holding Public Company Limited Competitors

SET:ETC

฿2.8b

SET:GREEN

฿752.6m

SET:TGE

฿3.8b

SET:SUPER

฿5.2b

Price History & Performance

Recent News & Updates

Dividend of ฿0.037 announced

Full year 2024 earnings released: EPS: ฿0.58 (vs ฿0.70 in FY 2023)

TPC Power Holding Public Company Limited, Annual General Meeting, Apr 23, 2025

Now 20% overvalued

Now 21% overvalued

Now 24% overvalued

Recent updates

Dividend of ฿0.037 announced

Full year 2024 earnings released: EPS: ฿0.58 (vs ฿0.70 in FY 2023)

TPC Power Holding Public Company Limited, Annual General Meeting, Apr 23, 2025

Now 20% overvalued

Now 21% overvalued

Now 24% overvalued

Upcoming dividend of ฿0.13 per share

Third quarter 2024 earnings released: EPS: ฿0.17 (vs ฿0.11 in 3Q 2023)

Upcoming dividend of ฿0.23 per share

TPC Power Holding Public Company Limited Approves Interim Cash Dividend Payment for Operating Period from January 1, 2024 to June 30, 2024, Payable on September 17, 2024

TPC Power Holding Public Company Limited Approves Interim Cash Dividend Payment for Operating Period from January 1, 2024 to June 30, 2024, Payable on September 9, 2024

Second quarter 2024 earnings released: EPS: ฿0.21 (vs ฿0.073 in 2Q 2023)

First quarter 2024 earnings released: EPS: ฿0.24 (vs ฿0.28 in 1Q 2023)

TPC Power Holding Public Company Limited Approves Dividend for the Year Ending on December 31, 2023, Payable on May 20, 2024

Upcoming dividend of ฿0.40 per share

Investor sentiment improves as stock rises 15%

TPC Power Holding Public Company Limited, Annual General Meeting, Apr 24, 2024

New minor risk - Earnings quality

Full year 2023 earnings released: EPS: ฿0.72 (vs ฿0.43 in FY 2022)

TPC Power Holding Public Company Limited Declares Dividend for the Fiscal Period Ending on December 31, 2023, Payable on May 20, 2024

TPC Power Holding Public Company Limited Declares Dividend for the Fiscal Period Ending on December 31, 2023, Payable on May 20, 2024

Third quarter 2023 earnings released: EPS: ฿0.11 (vs ฿0.26 in 3Q 2022)

Second quarter 2023 earnings released: EPS: ฿0.073 (vs ฿0.004 loss in 2Q 2022)

First quarter 2023 earnings released: EPS: ฿0.28 (vs ฿0.092 in 1Q 2022)

Investor sentiment improves as stock rises 21%

Upcoming dividend of ฿0.18 per share at 2.6% yield

Full year 2022 earnings released: EPS: ฿0.43 (vs ฿0.34 in FY 2021)

Less than half of directors are independent

Third quarter 2022 earnings released: EPS: ฿0.26 (vs ฿0.13 in 3Q 2021)

Second quarter 2022 earnings released: ฿0.004 loss per share (vs ฿0.12 profit in 2Q 2021)

Price target decreased to ฿15.00

Less than half of directors are independent

Upcoming dividend of ฿0.053 per share

Now 21% undervalued

Full year 2021 earnings: EPS and revenues miss analyst expectations

TPC Power Holding Public Company Limited Proposes Dividend for the Last Three Months of the Year Ended December 31, 2021, Payable on May 18, 2022

TPC Power Holding Public Company Limited, Annual General Meeting, Apr 22, 2022

Upcoming dividend of ฿0.34 per share

Third quarter 2021 earnings released: EPS ฿0.13 (vs ฿0.15 in 3Q 2020)

Price target decreased to ฿15.00

First quarter 2021 earnings released: EPS ฿0.12 (vs ฿0.21 in 1Q 2020)

Upcoming dividend of ฿0.11 per share

New 90-day low: ฿11.30

Full year 2020 earnings released

Revenue and earnings miss expectations

TPC Power Holding Public Company Limited, Annual General Meeting, Apr 22, 2021

New 90-day high: ฿12.60

TPC Power Holding Public Company Limited (SET:TPCH) agreed to acquire 99.8% stake in Eco Energy Group Corporation Co., Ltd from Ferrum Energy Co., Ltd. for approximately THB 130 million.

Third quarter 2020 earnings released: EPS ฿0.15

New 90-day low: ฿10.60