Inventory - Forth Corporation PCL (SET:FORTH)

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Price: 14 THB -1.41% Market Closed

Market Cap: ฿13.1B

V	Victorian Plumbing Group PLC LSE:VIC	UK

Forth Corporation PCL
Inventory

Inventory · Jun 2026 report

Inventory increased in the latest quarter

฿2.2B

+4.8%

฿1.9B

+0.2%

Quarterly Inventory reached ฿2.2B, up 11.3% year over year and up 4.8% sequentially.

Sources: Balance Sheet

Growth

Horizon	Forecast	Difference
Quarter	N/A	N/A
1 year	N/A	N/A
3-year CAGR	N/A	N/A
5-year CAGR	N/A	N/A
10-year CAGR	N/A	N/A

No analyst forecasts are available for Inventory.

History

Statistic	Value	Reporting period
Average value	฿1.4B	Dec 2016 – Dec 2025
Median value	฿1.3B	Dec 2016 – Dec 2025
Highest value	฿2.1B	Dec 2022
Lowest value	฿893.5m	Dec 2020
Largest annual decline	-฿367.4m (-17.6%)	Dec 2022 – Dec 2023

Adjust for Inflation

Forth Corporation PCL
Inventory Peer Comparison

Forth Corporation PCL
Balance Sheet

Metric	FY2016 Dec 2016	FY2017 Dec 2017	FY2018 Dec 2018	FY2019 Dec 2019	FY2020 Dec 2020	FY2021 Dec 2021	FY2022 Dec 2022	FY2023 Dec 2023	FY2024 Dec 2024	FY2025 Dec 2025
Cash & Cash Equivalents	428.1m	998.6m	696.3m	681.8m	740.6m	849.5m	781m	724m	804m	1.1B
Cash	—	—	—	—	—	—	—	43.4m	46.3m	64.9m
Cash Equivalents	428.1m	998.6m	696.3m	681.8m	740.6m	849.5m	781m	680.6m	757.8m	1.1B
Short-Term Investments	—	—	—	50m	304.8k	0	—	—	—	—
Total Receivables	1.9B	2B	3.3B	2.1B	2B	2.8B	3.4B	2.2B	2.5B	3B
Accounts Receivables	1.9B	2B	3.3B	1.3B	1.1B	1.9B	2.4B	1.1B	1.1B	1.7B
Other Receivables	11m	18.3m	13.1m	773.7m	865.8m	948.3m	989.2m	1.1B	1.4B	1.4B
Inventory	1.2B	1.1B	967.7m	978.9m	893.5m	1.4B	2.1B	1.7B	1.9B	1.9B
Other Current Assets	462m	391.5m	324.2m	264.4m	690.3m	683m	533.1m	786.1m	1.1B	726m
Total Current Assets	3.9B	4.5B	5.3B	4.1B	4.3B	5.8B	6.8B	5.4B	6.4B	6.8B
PP&E Net	2.5B	3.2B	2.9B	2.8B	2.6B	2.3B	3.4B	4.3B	4B	3.8B
PP&E Gross	2.5B	3.2B	2.9B	2.8B	2.6B	2.3B	3.4B	4.3B	4B	3.8B
Accumulated Depreciation	(1.9B)	(2.3B)	(2.7B)	(3B)	(3.4B)	(3.6B)	(4.1B)	(4.5B)	(5B)	(5.4B)
Intangible Assets	38.3m	67.6m	105.3m	112.7m	114.3m	112.5m	116.2m	95.3m	95m	115.9m
Note Receivable	—	—	—	27.7m	191.8m	118.4m	136.2m	189.2m	539.2m	889.6m
Long-Term Investments	51.4m	68.2m	168.4m	168.4m	151.1m	173.9m	545.5m	564.9m	575.3m	573.4m
Other Long-Term Assets	330.8m	370.7m	343.8m	423.1m	410.1m	351.1m	404.4m	508m	545.3m	481.6m
Total Assets	6.9B	8.1B	8.9B	7.6B	7.8B	8.8B	11.4B	11B	12.1B	12.6B
Accounts Payable	735.3m	683.3m	1B	553.4m	606.4m	1B	1.3B	777.1m	708.9m	927.9m
Accrued Liabilities	214.6m	257.7m	276m	261m	349m	225m	340.8m	323.9m	326.1m	372.1m
Short-Term Debt	1.5B	2.3B	3B	2.7B	2.7B	2.9B	3.8B	3B	4.2B	3.7B
Current Portion of Long-Term Debt	370.5m	580.5m	545.7m	283.7m	148.2m	225.1m	322.2m	602m	546.8m	758.1m
Other Current Liabilities	804.4m	1B	1B	1.1B	1.4B	1.3B	1.7B	1.6B	2.1B	1.8B
Deferred Revenue	—	—	—	177.2m	392.5m	268.7m	316.2m	413.2m	904.9m	396.2m
Total Current Liabilities	3.7B	4.8B	5.9B	4.9B	5.1B	5.7B	7.4B	6.3B	7.8B	7.6B
Long-Term Debt	516.2m	557.5m	374.2m	116.7m	292.8m	324m	317.6m	1.1B	749.1m	534.2m
Minority Interest	671.8m	825.3m	821.6m	939.2m	935.8m	915.9m	1.2B	1.2B	1.3B	1.5B
Other Liabilities	51.1m	61.5m	86.4m	134.4m	164.9m	166.9m	415.8m	400.6m	368.1m	305.6m
Total Liabilities	4.9B	6.3B	7.2B	6.1B	6.5B	7.1B	9.3B	9B	10.2B	9.9B
Common Stock	480m	480m	480m	480m	480m	480m	480m	467.7m	467.7m	467.7m
Retained Earnings	1.1B	1.1B	848m	704.7m	606.2m	1B	1.4B	1.3B	1.1B	1.9B
Additional Paid In Capital	362.6m	362.6m	362.6m	362.6m	362.6m	362.6m	362.6m	362.6m	362.6m	362.6m
Treasury Stock	—	—	—	(36.8m)	(152.2m)	(152.2m)	(152.2m)	0	—	—
Other Equity	1.2m	(7m)	(5.7m)	(3.6m)	(4.2m)	(7.3m)	(8m)	(7.3m)	(6.9m)	(3.8m)
Total Equity	2B	1.9B	1.7B	1.5B	1.3B	1.7B	2.1B	2.1B	1.9B	2.8B
Total Liabilities & Equity	6.9B	8.1B	8.9B	7.6B	7.8B	8.8B	11.4B	11B	12.1B	12.6B
Common Shares Outstanding	960m	960m	960m	953.6m	935.4m	935.4m	935.4m	935.4m	935.4m	935.4m

Forth Corporation PCL
Glance View

Market Cap

13.1B THB

Industry

Electrical Equipment

Forth Corporation PCL is a Thai technology and engineering company that builds and sells electronic systems, telecom equipment, and smart service machines. It works on things like communication infrastructure, payment terminals, kiosks, and vending-style machines used for bills, top-ups, and other self-service transactions. The company also provides related IT and maintenance services, so it is not just a hardware maker but also a systems operator. Its main customers are telecom operators, government agencies, businesses, and everyday consumers who use its machines and digital service points. Forth makes money in several ways: by selling equipment, winning installation and project contracts, charging service and maintenance fees, and earning transaction-based income from machines and service networks it runs. What makes Forth’s business model different is that it sits between traditional engineering and consumer-facing self-service infrastructure. It designs the hardware, installs the systems, and often keeps earning from the network after the initial sale. That gives it a mix of project revenue and recurring service income, which is common in companies that build the physical backbone for payment and communications services.

View FORTH Analysis

FORTH Intrinsic Value

Undervaluation 12%

Intrinsic Value

Price ฿14

What is Intrinsic Value?

Based on the financial report for Jun 30, 2026, Forth Corporation PCL's Inventory amounts to 2.2B THB.

Over the last year, the Inventory growth was 11%. The average annual Inventory growth rates for Forth Corporation PCL have been 1% over the past three years , 9% over the past five years , and 8% over the past ten years .

Forth Corporation PCL
SET:FORTH

Forth Corporation PCL
Inventory

Inventory increased in the latest quarter

Growth

History

Forth Corporation PCL
Inventory Peer Comparison

Forth Corporation PCL
Balance Sheet

Forth Corporation PCL
Glance View

What is Forth Corporation PCL's Inventory?

Inventory
2.2B THB

What is Forth Corporation PCL's Inventory growth rate?

Inventory CAGR 10Y
8%

Company

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Forth Corporation PCL SET:FORTH

Forth Corporation PCL Inventory

Growth

History

Forth Corporation PCL Inventory Peer Comparison

Forth Corporation PCL Balance Sheet

Forth Corporation PCL Glance View

What is Forth Corporation PCL's Inventory? Inventory 2.2B THB

What is Forth Corporation PCL's Inventory growth rate? Inventory CAGR 10Y 8%

Company

Help

Tools

Stocks

Forth Corporation PCL
SET:FORTH

Forth Corporation PCL
Inventory

Forth Corporation PCL
Inventory Peer Comparison

Forth Corporation PCL
Balance Sheet

Forth Corporation PCL
Glance View

What is Forth Corporation PCL's Inventory?

Inventory
2.2B THB

What is Forth Corporation PCL's Inventory growth rate?

Inventory CAGR 10Y
8%