Also trades as: TOP-R.BK (SET) · $vol 46M · TOIPY (OTC) · $vol 0M · LQZ.F (FSX) · $vol 0M · TOIPF (OTC) · $vol 0M

฿71.00 ($2.12)

+4.00 (+5.97%)

Weekly Expected Move ±7.5%

฿60 ฿66 ฿71 ฿76 ฿82

SET · Energy · Oil & Gas Refining & Marketing · Tech Score Buy · Power 59 · ฿158.6B mcap · 1.12B float · 1.98% daily turnover

Revenue

$394.3B -13.5% ▼

5Y CAGR: +10.2%

Gross Profit

$12.3B -26.5% ▼

Operating Income

$20.3B +24.2% ▲

Net Income

$14.6B +46.4% ▲

EPS (Diluted)

$6.53 +46.4% ▲

EBITDA

$28.3B +31.1% ▲

5Y CAGR: +36.2%

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$335.8B	$505.7B	$469.2B	$455.9B	$394.3B
YoY Growth	+38.3%	+50.6%	-7.2%	-2.9%	-13.5%
Cost of Revenue	$319.6B	$481.1B	$436.2B	$450.0B	$382.0B
Gross Profit	$16.3B	$24.6B	$33.1B	$16.8B	$12.3B
Gross Margin	4.8%	4.9%	7.0%	3.7%	3.1%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$3.1B	$4.2B	$3.5B	$3.9B	$4.1B
Operating Expenses	-$6.6B	-$19.7B	-$5.1B	-$10.5B	-$7.9B
Operating Income	$25.2B	$45.9B	$28.3B	$16.3B	$20.3B
Operating Margin	7.5%	9.1%	6.0%	3.6%	5.1%
Interest Expense	$3.6B	$3.9B	$4.1B	$4.1B	$3.5B
Income Before Tax	$15.1B	$42.0B	$24.3B	$12.3B	$16.8B
Tax Expense	$2.0B	$8.9B	$4.7B	$2.3B	$2.1B
Net Income	$12.6B	$32.7B	$19.4B	$10.0B	$14.6B
Net Margin	3.7%	6.5%	4.1%	2.2%	3.7%
EPS (Diluted)	$6.17	$15.96	$8.70	$4.46	$6.53
EBITDA	$32.6B	$54.1B	$36.1B	$21.6B	$28.3B
Shares Outstanding	2.04B	2.05B	2.23B	2.23B	2.23B

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$110.0B	$112.0B	$106.3B	$99.1B	$80.0B	$108.9B	$122.5B	$135.0B
Cost of Revenue	$116.8B	$107.2B	$101.6B	$99.3B	$77.9B	$103.1B	$92.3B	$120.7B
Gross Profit	-$6.8B	$4.8B	$4.6B	-$209M	$2.1B	$6.2B	$30.1B	$14.2B
Gross Margin	-6.2%	4.3%	4.4%	-0.2%	2.7%	5.7%	24.6%	10.5%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$966M	$1.1B	$812M	$1.0B	$831M	$1.4B	$1.2B	$1.9B
Operating Expenses	$966M	$328M	-$731M	-$8.0B	$831M	$1.4B	$1.2B	$1.9B
Operating Income	-$6.6B	$4.5B	$5.4B	$7.8B	$1.3B	$4.8B	$28.9B	$12.3B
Operating Margin	-6.0%	4.0%	5.1%	7.9%	1.7%	4.4%	23.6%	9.1%
Interest Expense	$1.0B	$986M	$969M	$982M	$835M	$708M	$683M	$668M
Income Before Tax	-$5.3B	$3.5B	$4.4B	$6.8B	$2.6B	$2.9B	$24.9B	$11.0B
Tax Expense	-$1.1B	$723M	$883M	$292M	$498M	$459M	$4.9B	$2.0B
Net Income	-$4.2B	$2.8B	$3.5B	$6.5B	$2.1B	$2.5B	$19.7B	$8.6B
Net Margin	-3.8%	2.5%	3.3%	6.5%	2.7%	2.3%	16.1%	6.4%
EPS (Diluted)	$-1.89	$1.24	$1.57	$2.90	$0.96	$1.10	$8.72	$3.71
EBITDA	-$2.2B	$6.5B	$7.3B	$9.8B	$5.5B	$5.8B	$31.0B	$14.3B
Shares Outstanding	2.23B	2.23B	2.23B	2.23B	2.24B	2.23B	2.23B	2.23B

TOP.BK SET