CAZ (Thailand) Public Company Limited

CAZ.BK

Engineering & Construction · Industrials

Price

2.40 THB

+0.04 (+1.69%)

Market Cap

729.3M THB

Exchange

Stock Exchange of Thailand

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 29, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Mixed

Stability

Mixed

Valuation

Data not available

Dividends

Good

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Winston Score History

The full picture

CAZ (Thailand) Public Company Limited engages in the construction business in Thailand. It offers engineering, procurement, construction, and construction management services; and civil engineering and structural services in the areas of foundation, infrastructure, and building works, including steel structure works, piping erection, and mechanical and equipment installation services. The company undertakes structure erection, piping fabrication and erection, equipment erection, and electric and instrument works, including pre-commissioning and commissioning; and civil and building construction works, including engineering works. In addition, it is involved in mechanical fabrication works, including structures, vessels, heat exchangers, and tanks. It serves industrial, energy, and petrochemical/chemical sectors. CAZ (Thailand) Public Company Limited was incorporated in 2014 and is based in Rayong, Thailand.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-10.8% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+65.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

0 THB/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Cash Position

Cash flow positive

1.4B THB cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

CAZ (Thailand) Public Company Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

0.0% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 294.0M (2021) → 294.0M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

9.1%

Thin — 9.1% gross margin

Profit after running costs

Operating Margin

5.6%

Thin — 5.6% operating margin

Return on the money invested

ROCE

-18.6%

Weak — -18.6% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-42.2%

Shrinking sales (-42.2% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

68.8%

Converts sales into free cash efficiently (68.8%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.61

Moderate — manageable debt (0.61)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

8.81%

Healthy income — 8.81% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

N/A

Data not available

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