Thai Enger Holding Public Company Limited

TIGER.BK

Engineering & Construction · Industrials

Exchange

Stock Exchange of Thailand

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Data not available

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Winston Score History

The full picture

Thai Enger Holding Public Company Limited is a Thai engineering and construction company. It provides construction services, engineering solutions, and related infrastructure work primarily to customers in Thailand. The company operates in the industrials sector, taking on projects that can include building construction, industrial facilities, and engineering contracting work for both public and private sector clients.

The company earns revenue by winning and completing construction contracts, meaning it gets paid as projects are delivered. It operates mainly within Thailand and is a small-cap company with a market capitalization of around $0.2 billion. The financial data tells a concerning story — the company is currently losing money at both the gross and operating levels, with negative margins and a negative return on invested capital. The main risk the business faces is its inability to price contracts profitably, which is a common but serious challenge in competitive construction markets where cost overruns and thin bidding can quickly erode financial health.

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

+2.3% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

<−1,000% YoY

YoY Growth Rate

Earnings declining

Insider Activity

84.5%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

174M THB cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth context

Thai Enger Holding Public Company Limited is growing revenue at 2% 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

3.1%

Thin — 3.1% gross margin

Profit after running costs

Operating Margin

-5.2%

Losing money on operations — -5.2%

Return on the money invested

ROCE

-14.5%

Weak — -14.5% 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

-5.4%

Shrinking sales (-5.4% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

2.9%

Thin free cash flow (2.9%)

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

0.04

Conservative — low debt load (0.04)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

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

Not applicable for this business.

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