Income Statement Thaiholdings

Stocks

THD

VN000000THD3

Construction Materials

End-of-day quote HANOI S.E. Other stock markets 06/08/2026			5-day change	1st Jan Change
161,000.00 ^VND	+1.19%		+30.15%	+431.35%

07-31	Thaiholdings Joint Stock Company Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI
04-23	Thaiholdings Joint Stock Company Reports Earnings Results for the First Quarter Ended March 31, 2026	CI

7f3e466cea.idRzCZTwUMa29rqRoAsY1vhV64E6hn-UTi-c5F3Xe5Y.8bUcT-a0KvPAt4yixzpQp7YUhOtc4xK5IlbDiy6vTN3FrBpv8boBqdqmig

Published financial data: THAIHOLDINGS

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	8,243B	4,113B	1,870B	974B	979B
Total Revenues	8,243B	4,113B	1,870B	974B	979B
Cost of Goods Sold, Total	7,753B	3,813B	1,838B	950B	956B
Gross Profit	490B	300B	31.83B	23.16B	22.24B
Selling General & Admin Expenses, Total	299B	284B	250B	28.15B	25.42B
Other Operating Expenses, Total	299B	284B	250B	28.15B	25.42B
Operating Income	191B	16.42B	-218B	-4.99B	-3.18B
Interest Expense, Total	-365B	-106B	-36.05B	-	-
Interest And Investment Income	25.97B	19.4B	74.48B	66.16B	98.39B
Net Interest Expenses	-339B	-86.42B	38.43B	66.16B	98.39B
Income (Loss) On Equity Invest.	-11.71B	5.17B	21.14B	-	-
Currency Exchange Gains (Loss)	1.67B	363M	293K	74.74K	81.25K
Other Non Operating Income (Expenses)	531B	-12.42B	7.52B	-1.54B	-2.43M
EBT, Excl. Unusual Items	374B	-76.89B	-151B	59.63B	95.2B
Gain (Loss) On Sale Of Investments	1,011B	480B	220B	45.63B	30.99B
Gain (Loss) On Sale Of Assets	17.09B	7.12B	652M	440M	-
Other Unusual Items	31.94B	4.53B	257B	-	-
EBT, Incl. Unusual Items	1,433B	415B	327B	106B	126B
Income Tax Expense	277B	114B	102B	21.5B	25.6B
Earnings From Continuing Operations	1,157B	301B	225B	84.2B	101B
Net Income to Company	1,157B	301B	225B	84.2B	101B
Minority Interest	-209B	-57.22B	-48B	-	-
Net Income - (IS)	947B	244B	177B	84.2B	101B
Net Income to Common Incl Extra Items	947B	244B	177B	84.2B	101B
Net Income to Common Excl. Extra Items	947B	244B	177B	84.2B	101B
Per Share Items
Net EPS - Basic	2.57K	633.62	458.45	218.69	261.31
Basic EPS - Continuing Operations	2.57K	633.62	458.45	218.69	261.31
Basic Weighted Average Shares Outstanding	368M	385M	385M	385M	385M
Net EPS - Diluted	2.57K	633.62	458.45	218.69	261
Diluted EPS - Continuing Operations	2.57K	633.62	458.45	218.69	261
Diluted Weighted Average Shares Outstanding	368M	385M	385M	385M	385M
Normalized Basic EPS	65.85	-273.45	-370.16	96.8	154.55
Normalized Diluted EPS	65.85	-273.45	-370.16	96.8	154.55
Supplemental Items
EBITDA	474B	182B	-215B	-4.92B	-3.15B
EBITA	416B	16.42B	-218B	-4.99B	-3.18B
EBIT	191B	16.42B	-218B	-4.99B	-3.18B
EBITDAR	-	-	-	-	-1.61B
Total Revenues (As Reported)	8,243B	4,113B	1,870B	974B	979B
Effective Tax Rate - (Ratio)	19.32	27.38	31.25	20.34	20.28
Total Current Taxes	243B	187B	120B	21.5B	25.6B
Total Deferred Taxes	34.03B	-73.24B	-17.59B	-	-
Normalized Net Income	24.24B	-105B	-143B	37.27B	59.5B
Supplemental Operating Expense Items
Selling and Marketing Expenses	7.45B	1.62B	1.62B	1.71B	2.81B
General and Administrative Expenses	291B	282B	249B	26.44B	21.07B
Net Rental Expense, Total	-	-	-	-	1.54B
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	272B	79.2B	91.05B	68.29B	19.18B
Short Term Investments	-	6.1B	45.09B	-	-
Trading Asset Securities, Total	2.59M	-	-	-	-
Total Cash And Short Term Investments	272B	85.31B	136B	68.29B	19.18B
Accounts Receivable, Total	1,871B	2,092B	290B	128B	96.44B
Other Receivables	81.49B	314M	22.14B	1,504B	58.72B
Notes Receivable	-	-	1,039B	-	1,563B
Total Receivables	1,952B	2,092B	1,351B	1,632B	1,718B
Inventory	95.54B	43.17B	77.64B	-	-
Prepaid Expenses	400M	13.36B	7.15B	5.84B	5.09B
Other Current Assets, Total	138B	18.4B	88.08B	8.09B	5.87B
Total Current Assets	2,458B	2,252B	1,660B	1,714B	1,748B
Gross Property Plant And Equipment	1,718B	547B	538B	18.41B	18.95B
Accumulated Depreciation	-458B	-280B	-278B	-283M	-316M
Net Property Plant And Equipment	1,260B	267B	260B	18.12B	18.63B
Long-term Investments	820B	1,789B	1,280B	2,533B	2,590B
Goodwill	1,905B	1,589B	1,377B	-	-
Other Intangibles, Total	8.24B	8.23B	8.23B	28.99M	23.97M
Other Long-Term Assets, Total	4,121B	2,369B	2,170B	195B	185B
Total Assets	10,572B	8,275B	6,756B	4,460B	4,541B
Liabilities
Accounts Payable, Total	631B	631B	66.75B	101B	73.8B
Accrued Expenses, Total	52.78B	13.72B	20.74B	6.49B	9.07B
Short-term Borrowings	1,664B	885B	-	-	-
Current Income Taxes Payable	206B	162B	115B	21.5B	25.6B
Unearned Revenue Current, Total	148B	83.6B	8.75B	7.62B	8.1B
Other Current Liabilities	260B	206B	82.63B	1.72B	669M
Total Current Liabilities	2,963B	1,981B	294B	138B	117B
Long-Term Debt	632B	-	-	-	-
Unearned Revenue Non Current	136B	40.13B	-	-	-
Deferred Tax Liability Non Current	496B	300B	281B	-	-
Other Non Current Liabilities	17.83B	14.19B	9.13B	7.97B	10.05B
Total Liabilities	4,245B	2,336B	584B	146B	127B
Common Stock, Total	3,500B	3,500B	3,850B	3,850B	3,850B
Retained Earnings	1,834B	1,537B	1,369B	464B	564B
Comprehensive Income and Other	-248M	-248M	-248M	-248M	-248M
Total Common Equity	5,334B	5,037B	5,218B	4,314B	4,414B
Minority Interest	993B	903B	953B	-	-
Total Equity	6,327B	5,939B	6,172B	4,314B	4,414B
Total Liabilities And Equity	10,572B	8,275B	6,756B	4,460B	4,541B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	385M	385M	385M	385M	385M
ECS Total Common Shares Outstanding	385M	385M	385M	385M	385M
Book Value / Share	13.85K	13.08K	13.55K	11.2K	11.47K
Tangible Book Value	3,421B	3,439B	3,833B	4,314B	4,414B
Tangible Book Value Per Share	8.89K	8.93K	9.96K	11.2K	11.47K
Total Debt	2,296B	885B	0	0	0
Net Debt	2,025B	800B	-136B	-68.29B	-19.18B
Debt Equivalent Oper. Leases	-	-	-	-	12.32B
Minority Interest, Total (Incl. Fin. Div)	993B	903B	953B	-	-
Equity Method Investments, Total	559B	1,259B	1,260B	1,800B	1,800B
Account Code - Inventory Valuation	6	3	5	3	3
Inventories - Raw Materials, Total	2.03B	292M	260M	-	-
Inventories - Work In Process, Total	93.44B	42.77B	77.31B	-	-
Inventories - Finished Goods, Total	29.3M	94.64M	53.59M	-	-
Inventories - Others	39.35M	17.93M	17.69M	-	-
Buildings, Total	951B	105B	105B	273M	273M
Machinery, Total	485B	177B	171B	149M	149M
Full Time Employees	-	-	-	32	28
Accumulated Allowance for Doubtful Accounts (Supple)	3.1B	-	7.78B	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	947B	244B	177B	84.2B	101B
Depreciation & Amortization - CF	57.21B	165B	3.65B	67.14M	32.45M
Amortization of Goodwill and Intangible Assets - (CF)	225B	-	-	-	-
Depreciation & Amortization, Total	282B	165B	3.65B	67.14M	32.45M
Amortization of Deferred Charges, Total - (CF)	25.93M	-	-	5.03M	5.03M
(Gain) Loss From Sale Of Asset	-1,571B	-507B	-313B	-91.8B	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Other Operating Activities, Total	203B	77.15B	-25.37B	-26.1B	-125B
Change in Trading Asset Securities	-2.62M	292K	-	-	-
Change In Accounts Receivable	-889B	-416B	1,999B	3.21B	31.06B
Change In Inventories	47.6B	-29.39B	-34.47B	-779M	-
Change In Accounts Payable	-103B	2,617B	-788B	40.75B	-22.71B
Change in Other Net Operating Assets	111B	-146B	180B	17.43B	11.53B
Cash from Operations	-973B	2,005B	1,198B	26.98B	-4.95B
Capital Expenditure	-27.83B	-24.73B	-8.57B	-	-541M
Sale of Property, Plant, and Equipment	1,360B	14.23B	-	2B	-
Investment in Marketable and Equity Securities, Total	-2,337B	2,162B	20B	1,285B	-26.25B
Net (Increase) Decrease in Loans Originated / Sold - Investing	127B	-2,945B	-567B	-1,330B	-113B
Other Investing Activities, Total	20.92B	7.27B	255B	13.75B	95.44B
Cash from Investing	-856B	-787B	-300B	-29.25B	-44.15B
Short Term Debt Issued, Total	-	-	756B	-	-
Long-Term Debt Issued, Total	4,431B	2,280B	-	-	-
Total Debt Issued	4,431B	2,280B	756B	-	-
Short Term Debt Repaid, Total	-	-	-1,641B	-	-
Long-Term Debt Repaid, Total	-5,295B	-3,691B	-	-	-
Total Debt Repaid	-5,295B	-3,691B	-1,641B	-	-
Issuance of Common Stock	2,961B	-	-	-	-
Other Financing Activities, Total	-26.46B	-	-	-	-
Cash from Financing	2,071B	-1,411B	-885B	-	-
Foreign Exchange Rate Adjustments	178M	693K	54.13K	74.74K	81.25K
Net Change in Cash	242B	-192B	11.85B	-2.27B	-49.11B
Supplemental Items
Cash Interest Paid	374B	140B	37.77B	-	-
Cash Income Tax Paid (Refund)	272B	63.92B	168B	26.27B	21.5B
Levered Free Cash Flow	-2,039B	-800B	-316B	-1,346B	-107B
Unlevered Free Cash Flow	-1,811B	-733B	-293B	-1,346B	-107B
Change In Net Working Capital	2,185B	884B	152B	1,343B	104B
Net Debt Issued / Repaid	-864B	-1,411B	-885B	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	1.14	0.11	-1.81	-0.07	-0.04
Return on Total Capital	1.71	0.14	-2.1	-0.07	-0.05
Return On Equity %	27.01	5.19	3.7	1.97	2.31
Return on Common Equity	28.02	4.96	3.44	1.97	2.31
Margin Analysis
Gross Profit Margin %	5.94	7.29	1.7	2.38	2.27
SG&A Margin	3.62	6.9	13.37	2.89	2.6
EBITDA Margin %	5.75	4.42	-11.48	-0.51	-0.32
EBITA Margin %	5.05	0.4	-11.67	-0.51	-0.32
EBIT Margin %	2.32	0.4	-11.67	-0.51	-0.32
Income From Continuing Operations Margin %	14.03	7.32	12	8.65	10.28
Net Income Margin %	11.49	5.93	9.44	8.65	10.28
Net Avail. For Common Margin %	11.49	5.93	9.44	8.65	10.28
Normalized Net Income Margin	0.29	-2.56	-7.62	3.83	6.08
Levered Free Cash Flow Margin	-24.73	-19.44	-16.89	-138.2	-10.93
Unlevered Free Cash Flow Margin	-21.97	-17.83	-15.68	-138.2	-10.93
Asset Turnover
Asset Turnover	0.78	0.44	0.25	0.22	0.22
Fixed Assets Turnover	6.2	5.29	7.1	52.49	53.24
Receivables Turnover (Average Receivables)	4.51	2.04	1.9	7.65	8.74
Inventory Turnover (Average Inventory)	72.26	54.97	30.43	-	-
Short Term Liquidity
Current Ratio	0.83	1.14	5.66	12.41	14.91
Quick Ratio	0.75	1.1	1.53	12.31	1.49
Operating Cash Flow to Current Liabilities	-0.33	1.01	4.08	0.2	-0.04
Days Sales Outstanding (Average Receivables)	81.01	178.87	192	47.86	41.77
Days Outstanding Inventory (Average Inventory)	5.05	6.64	11.99	-	-
Average Days Payable Outstanding	28.94	61.39	67.97	29.76	33.32
Cash Conversion Cycle (Average Days)	57.12	124.12	136.02	-	-
Long Term Solvency
Total Debt/Equity	36.29	14.91	-	-	-
Total Debt / Total Capital	26.63	12.97	-	-	-
LT Debt/Equity	10	-	-	-	-
Long-Term Debt / Total Capital	7.33	-	-	-	-
Total Liabilities / Total Assets	40.15	28.23	8.65	3.28	2.8
EBIT / Interest Expense	0.52	0.16	-6.06	-	-
EBITDA / Interest Expense	1.3	1.72	-5.95	-	-
(EBITDA - Capex) / Interest Expense	1.22	1.48	-6.19	-	-
Total Debt / EBITDA	4.85	4.87	-	-	-
Net Debt / EBITDA	4.27	4.4	0.63	13.88	6.09
Total Debt / (EBITDA - Capex)	5.15	5.64	-	-	-
Net Debt / (EBITDA - Capex)	4.54	5.09	0.61	13.88	5.2
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	352.73	-50.1	-54.52	-22.05	0.5
Gross Profit, 1 Yr. Growth %	187.9	-38.77	-89.7	-63.59	-3.96
EBITDA, 1 Yr. Growth %	206.07	-61.92	-212.41	-113.4	-51.24
EBITA, 1 Yr. Growth %	187.07	-91.62	-954.29	-113.77	-51.28
EBIT, 1 Yr. Growth %	31.93	-91.62	-954.29	-113.77	-51.28
Earnings From Cont. Operations, 1 Yr. Growth %	17.37	-39.11	-27.65	-31.55	19.49
Net Income, 1 Yr. Growth %	15.09	-39.9	-29.48	-31.55	19.49
Normalized Net Income, 1 Yr. Growth %	-96.13	-167.75	39.55	-52.82	59.66
Diluted EPS Before Extra, 1 Yr. Growth %	20.4	-42.55	-29.16	-31.01	19.35
Accounts Receivable, 1 Yr. Growth %	4.62	7.86	-82.69	0.33	-24.37
Inventory, 1 Yr. Growth %	-19.73	-54.81	79.84	-	-
Net Property, Plant and Equip., 1 Yr. Growth %	-10.01	-79.25	-2.61	-4.47	2.81
Total Assets, 1 Yr. Growth %	1.16	-21.5	-18.45	2.75	1.83
Tangible Book Value, 1 Yr. Growth %	-582	19.53	11.26	1.97	2.33
Common Equity, 1 Yr. Growth %	273.74	5.09	3.48	1.97	2.33
Cash From Operations, 1 Yr. Growth %	14.07	-1.01K	-40.28	-95.72	-118.36
Capital Expenditures, 1 Yr. Growth %	215.86	-26.12	-65.35	-	-
Levered Free Cash Flow, 1 Yr. Growth %	-248.27	-40.39	-60.61	-245.3	-92.05
Unlevered Free Cash Flow, 1 Yr. Growth %	-231	-34.12	-60.13	-243.58	-92.05
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	229.22	50.3	-52.37	-51.34	-11.49
Gross Profit, 2 Yr. CAGR %	142.4	32.77	-74.51	-72.63	-40.86
EBITDA, 2 Yr. CAGR %	151.37	8.39	-32.95	-83.95	-70.72
EBITA, 2 Yr. CAGR %	136.42	-66.36	5.59	-55.82	-70.37
EBIT, 2 Yr. CAGR %	60.27	-66.36	5.59	-55.82	-70.37
Earnings From Cont. Operations, 2 Yr. CAGR %	393.2	-44.72	-32.63	-47.91	-9.56
Net Income, 2 Yr. CAGR %	346.32	-45.56	-34.06	-42	-9.56
Normalized Net Income, 2 Yr. CAGR %	-26.44	-59.02	-4.23	-39.59	-13.21
Diluted EPS Before Extra, 2 Yr. CAGR %	320.62	-45.55	-35.53	-41.87	-9.26
Accounts Receivable, 2 Yr. CAGR %	231.98	8.16	-61.31	-72.43	-12.89
Inventory, 2 Yr. CAGR %	-	-39.78	-9.85	-	-
Net Property, Plant and Equip., 2 Yr. CAGR %	1.78K	-56.33	-55.04	-73.95	-0.9
Total Assets, 2 Yr. CAGR %	252.57	-11.02	-19.94	-26.63	2.29
Tangible Book Value, 2 Yr. CAGR %	137.95	120.12	15.43	11.89	2.15
Common Equity, 2 Yr. CAGR %	197.12	87.86	4.35	-7.51	2.15
Cash From Operations, 2 Yr. CAGR %	164.85	53.34	132.71	-88.4	-91.13
Capital Expenditures, 2 Yr. CAGR %	-	67.51	-49.41	-	-
Levered Free Cash Flow, 2 Yr. CAGR %	216.52	-23.74	-51.48	29.55	-66.01
Unlevered Free Cash Flow, 2 Yr. CAGR %	197.04	-27.15	-48.68	35.25	-66.21
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	320	75.53	0.9	-50.93	-38.03
Gross Profit, 3 Yr. CAGR %	302.76	53.23	-42.81	-63.84	-58.41
EBITDA, 3 Yr. CAGR %	495.78	34.35	11.52	-78.24	-74.55
EBITA, 3 Yr. CAGR %	516.04	-39.6	14.59	-70.58	-50.07
EBIT, 3 Yr. CAGR %	375.4	-39.6	14.59	-70.58	-50.07
Earnings From Cont. Operations, 3 Yr. CAGR %	434.14	85.02	-38.92	-44.58	-31.3
Net Income, 3 Yr. CAGR %	399.73	72.47	-40.14	-40.8	-26.2
Normalized Net Income, 3 Yr. CAGR %	73.24	32.96	-38.97	-37.87	-16.48
Diluted EPS Before Extra, 3 Yr. CAGR %	72.24	63.32	-40.14	-41.69	-26.12
Accounts Receivable, 3 Yr. CAGR %	377.52	130.98	-45.45	-59.64	-61.4
Inventory, 3 Yr. CAGR %	-	-	-13.27	-	-
Net Property, Plant and Equip., 3 Yr. CAGR %	578.56	321.14	-42.95	-75.85	-58.83
Total Assets, 3 Yr. CAGR %	271.17	113.48	-13.53	-24.93	-18.16
Tangible Book Value, 3 Yr. CAGR %	180.75	78.55	75.45	14.45	8.61
Common Equity, 3 Yr. CAGR %	225.56	102.76	54.06	-3.45	-4.34
Cash From Operations, 3 Yr. CAGR %	106.42	143.62	11.98	-50.4	-86.48
Capital Expenditures, 3 Yr. CAGR %	-	-	-0.93	-	-72.03
Levered Free Cash Flow, 3 Yr. CAGR %	-	57.8	-38.76	0.1	-48.9
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	52.89	-40.36	6.52	-47.41
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	75.84	5.07	-11.68
Gross Profit, 5 Yr. CAGR %	-	-	33.53	-22.6	-33.43
EBITDA, 5 Yr. CAGR %	-	-	149.06	-42	-54.12
EBITA, 5 Yr. CAGR %	-	-	161.61	-41.77	-53.42
EBIT, 5 Yr. CAGR %	-	-	161.61	-41.77	-53.42
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	96.88	12.11	-36.64
Net Income, 5 Yr. CAGR %	-	-	87.63	12.11	-34.32
Normalized Net Income, 5 Yr. CAGR %	-	-	98.18	-3.61	-37.56
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-1.86	8.5	-34.33
Accounts Receivable, 5 Yr. CAGR %	-	-	76.02	-5.56	-44.23
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	130.08	38.36	-57.85
Total Assets, 5 Yr. CAGR %	-	-	100.84	39.29	-15.35
Tangible Book Value, 5 Yr. CAGR %	-	-	90.05	48.16	44.13
Common Equity, 5 Yr. CAGR %	-	-	102.15	48.16	25.34
Cash From Operations, 5 Yr. CAGR %	-	-	61.03	-27.92	-64.29
Capital Expenditures, 5 Yr. CAGR %	-	-	-	-	-42.76
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	45.91	-39.99
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	45.66	-40.05