True Corporation Public Company Limited (TRUE-R.BK) stock analysis

In our weekly check, True Corporation Public Company Limited is graded B (A to F). Of 24 checks on debt, profit, cash flow and trend: 17 pass, warnings: 4, red flags: 3.

About True Corporation Public Company Limited

True Corporation Public Company Limited is a Communication Services company (Telecommunications Services), listed on SET as TRUE-R.BK.

What our checks show for TRUE-R.BK

Red flags

• Net debt is 3.7x a year of EBITDA (debt/equity 5.4). That limits room in a downturn and raises refinancing risk.
• The stock has fallen as much as 82% from a peak. Would you have held through that?
• Recovering from its deepest fall took about 3.9 years.

Warning signs

• Operating profit covers interest only 2.1 times: a weak year could make the payments hard.
• Analysts expect only about 2% a year of growth in revenue.
• The dividend takes 83% of profit: little cushion if profit falls.
• Return on capital (ROCE) is only 8.8%.

Strengths

• The net margin rose by 11 points over 5 years, to 10%.
• The gross margin is 37.5% and has risen by 10.9 points: pricing power is holding.
• Operating cash flow is 4.68x net profit: the profit arrives as real cash.
• Analysts expect earnings per share to grow about 21.2% a year over the next years.
• Analysts expect the net margin to improve by 5.5 points from today's 10%.
• Free cash flow is 27.8% of revenue: cash for dividends, buybacks or growth.

Similar companies

4904.TW · TATACOMM.NS · 3045.TW · MTN.JO · VOD.JO · 7010.SR

Questions

What grade does True Corporation Public Company Limited (TRUE-R.BK) have?

In our weekly check, True Corporation Public Company Limited is graded B (A to F). Of 24 checks on debt, profit, cash flow and trend: 17 pass, warnings: 4, red flags: 3. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of TRUE-R.BK stock?

This week's biggest flags for True Corporation Public Company Limited: High debt, Deep past fall, Slow recovery after falls. In total 7 of 24 checks show a warning or a red flag.

What does True Corporation Public Company Limited do?

True Corporation Public Company Limited is a Communication Services company (Telecommunications Services), listed on SET as TRUE-R.BK.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-31

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