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TPI Polene Power Public Company Limited (TPIPP.BK)

THB1.80 -0.01 (-0.55%)
TH SET Utilities Renewable Utilities
Address TPI Tower 10120
Bangkok, TH
CEO Pakorn Leopairut
IPO 2017-04-07
ISIN TH7534010007

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Also trades on Stock Exchange of Thailand · TPIPP-R.BK (THB) Stock Exchange of Thailand · TPIPP.BK (THB)
Description

TPI Polene Power Public Company Limited (TPIPP) is a prominent Thai firm engaged in power generation and distribution. Its business activities are primarily categorized into two divisions: energy and utilities, and the operation of petrol and gas stations. The company generates electricity through a diverse portfolio of power plants, encompassing facilities fueled by municipal solid waste, coal, and those employing waste-to-energy and waste-heat recovery technologies. The electricity produced is sold to the Electricity Generating Authority of Thailand. Complementing its energy segment, TPIPP also operates service stations providing petrol and compressed natural gas (NGV). By December 31, 2021, the company's asset base included eight power plants with a total installed generation capacity of 440 megawatts. Its retail operations also comprised a network of eight petrol stations, three combined fuel and natural gas outlets, and a standalone gas station, all operating under the TPIPP brand. Founded in 1991, the company maintains its headquarters in Bangkok, Thailand, and operates as a subsidiary of TPI Polene Public Company Limited.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
THB1.80 -0.01 (-0.55%)
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Volume Profile
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Liquidity & share structure
Average Volume
5M
Beta
0.24
Float Shares
2.34B
Free Float %
27.8%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+0.56% -10.05% -3.76% -7.25% -13.11% -1.10% -19.37% -45.43% -59.87% -74.43% -74.43%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
1.80
Ratings Trend (MoM) 100% Bullish
Rating 2025-05 Change
Strong Buy 1 0
Buy 0 0
Hold 0 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
0.79
Distress
Piotroski F-Score
6 / 9
Average
MOAT Score
4 / 10
Developing
Composite Rating
B+
Overall Score
3 / 5
Medium
DCF Score
1 / 5
Low
ROE Score
2 / 5
Medium
ROA Score
4 / 5
High
D/E Score
3 / 5
Medium
P/E Score
4 / 5
High
P/Book Score
5 / 5
High
Operational MOAT
✗ Below peers
  • Revenue growth Renewable Utilities: +1.3%
    -15.6% Q1'26: -20.9% (vs Q1'25)
  • EPS growth Renewable Utilities: +6.7%
    -30.8% Q1'26: -78.7% (vs Q1'25)
  • FCF margin FCF growth · Renewable Utilities: +50.4%
    +28.3% Q1'26: -33.5% (vs Q1'25)
  • EBIT margin Renewable Utilities: +22.3%
    +27.3% Q1'26: +18.6% (vs Q1'25)
  • ROIC Renewable Utilities: +3.5%
    +3.7% Q1'26: +2.4% (vs Q1'25)
  • Share dilution Renewable Utilities: +0.0%
    +0.0% Q1'26: -0.1% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Renewable Utilities: 3.24×
    8.67× Q1'26: 10.13× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.28) × ERP
WACC = 33% × Ke + 67% × Kd (4.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Current price: 1.80
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
1 Rev. Ana.
1 EPS Ana.
Revenue
4.86B
est: 5.02B (-3.1%)
7.62B
est: 7.74B (-1.6%)
10.57B
est: 10.60B (-0.2%)
11.12B
est: 11.12B (+0.0%)
11.07B
est: 11.28B (-1.8%)
10.20B
est: 10.94B (-6.8%)
10.99B
est: 10.61B (+3.6%)
10.75B
est: 9.96B (+7.9%)
9.07B
est: 11.08B (-18.1%)
9.91B
9.91B – 9.91B
-10.5% YoY
EBITDA
3.07B
est: 2.29B (+34.2%)
4.36B
est: 3.53B (+23.6%)
5.68B
est: 4.83B (+17.5%)
5.79B
est: 5.07B (+14.2%)
5.43B
est: 5.14B (+5.6%)
3.91B
est: 4.99B (-21.5%)
4.83B
est: 4.57B (+5.6%)
4.79B
est: 4.30B (+11.4%)
3.60B
est: 4.78B (-24.6%)
4.27B
4.27B – 4.27B
-10.5% YoY
EBIT
2.70B
est: 1.84B (+47.1%)
3.87B
est: 2.84B (+36.6%)
4.86B
est: 3.88B (+25.2%)
4.91B
est: 4.07B (+20.4%)
4.50B
est: 4.13B (+9.1%)
2.91B
est: 4.01B (-27.3%)
3.82B
est: 3.53B (+8.2%)
3.75B
est: 3.31B (+13.3%)
2.48B
est: 3.68B (-32.8%)
3.30B
3.30B – 3.30B
-10.5% YoY
Net Income
2.59B
est: 2.59B (+0.1%)
3.70B
est: 3.72B (-0.5%)
4.61B
est: 4.59B (+0.4%)
4.51B
est: 4.57B (-1.4%)
4.19B
est: 4.46B (-6.1%)
2.81B
est: 4.28B (-34.3%)
3.65B
est: 3.30B (+10.7%)
3.30B
est: 4.45B (-25.8%)
2.27B
est: 2.69B (-15.7%)
1.85B
1.85B – 1.85B
-31.3% YoY
SGA
228.49M
est: 223.03M (+2.4%)
371.76M
est: 343.85M (+8.1%)
487.67M
est: 470.79M (+3.6%)
421.96M
est: 493.97M (-14.6%)
490.29M
est: 500.90M (-2.1%)
428.05M
est: 486.01M (-11.9%)
537.41M
est: 519.35M (+3.5%)
527.00M
est: 487.71M (+8.1%)
549.47M
est: 542.20M (+1.3%)
485.16M
485.16M – 485.16M
-10.5% YoY
EPS
0.33
est: 0.31 (+7.0%)
0.44
est: 0.44 (-0.6%)
0.55
est: 0.55 (+0.7%)
0.54
est: 0.54 (-0.8%)
0.50
est: 0.53 (-5.9%)
0.33
est: 0.51 (-35.3%)
0.43
est: 0.39 (+9.4%)
0.39
est: 0.53 (-26.4%)
0.27
est: 0.32 (-15.6%)
0.22
0.22 – 0.22
-31.3% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-11 B+ 3/5 1/5 2/5 4/5 3/5 4/5 5/5
2026-05-08 B+ 3/5 1/5 2/5 4/5 3/5 4/5 5/5
2026-05-07 B+ 3/5 1/5 2/5 4/5 3/5 4/5 5/5
2026-05-06 B+ 3/5 1/5 2/5 4/5 3/5 4/5 5/5
2026-05-05 B+ 3/5 1/5 2/5 4/5 3/5 4/5 5/5
2026-04-30 B+ 3/5 1/5 2/5 4/5 2/5 4/5 5/5
2026-04-29 B+ 3/5 1/5 2/5 4/5 2/5 4/5 5/5
2026-04-28 B+ 3/5 1/5 2/5 4/5 2/5 4/5 5/5
2026-04-27 B+ 3/5 1/5 2/5 4/5 2/5 4/5 5/5
2026-04-24 B+ 3/5 1/5 2/5 5/5 2/5 4/5 5/5
2026-04-23 B+ 3/5 1/5 2/5 5/5 2/5 4/5 5/5
2026-04-22 B+ 3/5 1/5 2/5 5/5 2/5 4/5 5/5
2026-04-21 B+ 3/5 1/5 2/5 5/5 2/5 4/5 5/5
2026-04-20 B+ 3/5 1/5 2/5 5/5 2/5 4/5 5/5
2026-04-17 B+ 3/5 1/5 2/5 5/5 2/5 4/5 5/5
2026-04-16 B+ 3/5 1/5 2/5 5/5 2/5 4/5 5/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
-7.29B
OE per share TTM
-0.87
Owner's Yield
-48.21%
Maintenance CapEx ratio
1,172.96%
Maint CapEx / Avg PPE
429.0%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 14 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 State Street SPDR S&P Emerging Markets Small Cap ETF EWX 0.01% 58.5K 0.65%
2 Dimensional - Emerging Markets Value ETF DFEV 0.00% 40.0K 0.46%
3 Dimensional - Emerging Markets Core Equity 2 ETF DFEM 0.00% 166.0K 0.39%
4 Dimensional - Emerging Markets ex China Core Equity ETF DEXC 0.00% 4.3K 0.56%
5 Vanguard FTSE Emerging Markets Shares ETF VGE.AX 0.00% 11.7K 0.48%
6 Vanguard FTSE Emerging Markets All Cap Index ETF VEE.TO 0.00% 26.4K 0.26%
7 Dimensional World ex U.S. Core Equity 2 ETF DFAX 0.00% 98.1K 0.28%
8 Vanguard FTSE Global All Cap ex Canada Index ETF VXC.TO 0.00% 2.1K 0.22%
9 Vanguard All-Equity ETF Portfolio VEQT.TO 0.00% 6.3K 0.22%
10 Vanguard Growth ETF Portfolio VGRO.TO 0.00% 3.4K 0.22%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
3.35M
Shares Outstanding
8.40B

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Pakkapol Leopairut Executive Vice President of Accounting & Finance and Director 2M male
Pakorn Leopairut President & Director 2M male
Porakrit Leophairatana Executive Director & Executive Vice President of Production 2M
Kanchit Yimkrim Company Secretary male
Worawit Lerdbussarakam Senior Vice President of Production male
Kusuma Chantarothorn Head of the Company's Risk Management Unit female
Maria Brenda Sanchez Lapiz Head of Investor Relations & VP of Corporate Relations female
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits