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Sky ICT Public Company Limited

SKY.BK
50
Information Technology Services · Technology
Price
18.10 THB
+0.20 (+1.12%)
Market Cap
12.98B THB
Exchange
Stock Exchange of Thailand
Winston Score
50
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Sep 21, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
Growth
Exceptional
Cash Flow
Mixed
Stability
Good
Valuation
Good
Dividends
Weak
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Share count rising — dilution

+13.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 630.0M (2021) → 716.7M (2025)

§Winston Score History

The full picture

Sky ICT Public Company Limited, an enterprise based in Thailand, along with its subsidiary, specializes in information and communication technology (ICT) and system integration. The company's operations are divided into two main segments: System Integration, and Sales and Service. Sky ICT provides expert consultation, sophisticated design, and the distribution of a wide array of ICT products and devices. Its product portfolio encompasses essential hardware such as notebook computers, scanners, printers, and servers, alongside digital storage solutions, networking switches, and various software applications. Furthermore, the company delivers comprehensive implementation and installation services, offers ongoing maintenance agreements, and provides strategic consulting, design, and project management expertise. It also facilitates technology access through its computer and electronic device rental services. Serving both governmental and private entities, Sky ICT was established in 1997. The company, headquartered in Bangkok, Thailand, adopted its current name in July 2017, having previously operated as CCN-TECH Public Company Limited.

Growth Profile

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

Revenue Growth

+0.7% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+16.7% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

0 THB/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Cash Position

Cash flow positive

5.8B THB cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Growth context

Sky ICT Public Company Limited is growing revenue at 1% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

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.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
17.5%
Thin — 17.5% gross margin
Profit after running costs
Operating Margin
9.6%
Modest — 9.6% operating margin
Return on the money invested
ROCE
8.8%
Below par — 8.8% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+22.3%
Fast-growing sales (+22.3% YoY)
Profit growth
EPS YoY
+32.6%
Earnings growing fast (+32.6% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
58%
Weak — only 58% of profit becomes cash
Spare cash per sale
FCF Margin
3.5%
Thin free cash flow (3.5%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
0.84
Moderate — manageable debt (0.84)
Covers its interest
Interest Cover
3.75x
Tight — interest eats into profit (3.7x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
15.9x
Fair value — P/E 15.9

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+0.2
GROWING
Earnings roughly flat

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Dividends

Dividend
Dividend Yield
1.66%
Small dividend — 1.66% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
N/A
Data not available

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