U

United Paper PCL
SET:UTP

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United Paper PCL
SET:UTP
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Price: 7.5 THB Market Closed
Market Cap: 4.9B THB
Financials Section:
Income Statement Balance Sheet Cash Flow Statement

Cash Flow Statement

Operating Cash Flow
+
3Y
-35%
5Y
-40%
10Y
+55%
Investing Cash Flow
+
3Y
-
5Y
-
10Y
-
Financing Cash Flow
+
3Y
+47%
5Y
+27%
10Y
-1 801%

Cash Flow Statement
United Paper PCL

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Cash Flow Statement
Currency: THB
Jun-2004 Sep-2004 Dec-2004 Mar-2005 Jun-2005 Sep-2005 Dec-2005 Mar-2006 Jun-2006 Sep-2006 Dec-2006 Mar-2007 Jun-2007 Sep-2007 Dec-2007 Mar-2008 Jun-2008 Sep-2008 Dec-2008 Mar-2009 Jun-2009 Sep-2009 Dec-2009 Mar-2010 Jun-2010 Sep-2010 Dec-2010 Mar-2011 Jun-2011 Sep-2011 Dec-2011 Mar-2012 Jun-2012 Sep-2012 Dec-2012 Mar-2013 Jun-2013 Sep-2013 Dec-2013 Mar-2014 Jun-2014 Sep-2014 Dec-2014 Mar-2015 Jun-2015 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Mar-2017 Jun-2017 Sep-2017 Dec-2017 Mar-2018 Jun-2018 Sep-2018 Dec-2018 Mar-2019 Jun-2019 Sep-2019 Dec-2019 Mar-2020 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Sep-2021 Dec-2021 Mar-2022 Jun-2022 Sep-2022 Mar-2023 Jun-2023 Sep-2023 Dec-2023 Mar-2024 Jun-2024 Sep-2024 Dec-2024 Mar-2025 Jun-2025 Sep-2025
Operating Cash Flow
Net Income
465
378
132
104
93
58
24
12
14
40
49
50
40
19
1
22
15
(6)
(30)
(75)
(76)
(22)
27
110
145
118
115
87
77
79
47
44
78
118
135
185
195
223
278
308
306
288
276
237
216
203
205
229
244
241
239
239
253
306
384
492
627
775
865
897
948
947
969
1 098
1 092
1 015
0
952
930
977
0
903
944
925
0
0
705
876
1 056
1 255
659
620
578
517
531
Depreciation & Amortization
124
84
86
89
91
93
95
99
105
112
120
123
126
128
130
133
134
135
135
141
148
153
157
156
156
156
159
160
160
160
157
157
158
158
159
160
162
164
165
166
167
168
170
160
150
140
129
132
136
139
134
138
142
149
173
182
192
198
197
201
204
207
211
210
210
210
210
211
212
212
212
208
202
196
(1)
(2)
3
188
189
196
197
208
208
204
203
Other Non-Cash Items
(262)
(262)
0
0
0
0
0
(0)
0
0
(1)
(17)
23
33
2
70
40
38
39
46
36
32
28
17
22
23
20
20
16
15
14
(18)
10
7
8
(51)
(21)
4
94
(150)
(221)
(277)
(227)
172
212
250
230
64
34
27
6
12
22
31
38
41
41
40
33
30
23
19
15
10
7
114
148
190
222
147
139
139
142
134
(15)
(12)
(4)
128
123
111
86
73
79
80
95
Cash Taxes Paid
0
0
0
0
0
10
10
0
16
19
19
0
31
26
26
0
15
14
14
14
8
0
0
0
22
51
48
48
44
39
42
0
36
37
37
0
47
56
56
0
69
75
75
0
71
55
55
0
49
59
59
0
61
26
27
27
16
60
59
59
0
94
94
0
0
129
129
129
204
147
147
147
129
134
0
(11)
(21)
113
113
120
120
120
120
105
108
Cash Interest Paid
95
53
45
43
36
35
34
33
38
42
46
49
47
44
41
40
38
38
37
35
33
30
27
25
23
22
20
18
16
14
12
10
8
6
4
2
1
0
0
0
0
0
0
0
0
0
1
5
9
15
21
26
31
35
39
41
42
39
33
26
20
14
9
5
2
0
0
0
0
0
0
0
0
0
0
(0)
(0)
0
0
0
0
0
0
0
0
Change in Working Capital
(82)
35
(49)
(25)
(109)
(122)
(37)
14
83
63
86
42
8
(44)
(25)
(149)
(107)
(91)
(71)
100
86
61
61
(173)
(186)
(82)
(148)
(11)
5
(97)
16
34
(35)
(14)
(79)
(92)
(88)
(65)
(166)
(131)
(65)
(48)
(143)
(73)
(70)
(140)
(116)
(136)
(121)
(78)
(111)
(152)
(235)
(408)
(396)
(406)
(423)
(151)
(126)
(94)
(8)
(102)
(66)
(110)
(41)
(165)
(264)
(431)
(648)
(752)
(668)
(461)
(452)
(178)
(94)
130
80
(34)
46
(246)
(119)
(214)
(201)
11
(125)
Cash from Operating Activities
245
N/A
236
-4%
169
-28%
168
-1%
75
-55%
29
-62%
82
+185%
125
+54%
201
+60%
215
+7%
253
+18%
197
-22%
197
0%
136
-31%
109
-20%
76
-30%
82
+7%
75
-8%
73
-2%
212
+190%
194
-9%
224
+16%
272
+21%
110
-60%
138
+25%
214
+55%
146
-32%
256
+75%
259
+1%
157
-39%
234
+49%
216
-8%
210
-3%
268
+28%
223
-17%
203
-9%
249
+23%
325
+31%
371
+14%
193
-48%
188
-3%
132
-30%
76
-42%
496
+550%
509
+3%
453
-11%
448
-1%
289
-36%
293
+1%
329
+12%
269
-18%
238
-12%
182
-24%
78
-57%
199
+156%
309
+56%
437
+41%
863
+97%
970
+12%
1 033
+6%
1 168
+13%
1 071
-8%
1 130
+5%
1 207
+7%
1 267
+5%
1 173
-7%
1 104
-6%
922
-16%
716
-22%
585
-18%
601
+3%
790
+31%
837
+6%
1 077
+29%
(175)
N/A
(8)
+96%
37
N/A
1 159
+3 062%
1 204
+4%
889
-26%
824
-7%
686
-17%
664
-3%
812
+22%
703
-13%
Investing Cash Flow
Capital Expenditures
(5)
(3)
(2)
(2)
(2)
(2)
(3)
0
(3)
(2)
(2)
(10)
(14)
(19)
(21)
(33)
(32)
(28)
(17)
(10)
(8)
(7)
(3)
(6)
(8)
(13)
(25)
(27)
(29)
(26)
(20)
(19)
(21)
(20)
(54)
(56)
(56)
(56)
(22)
(49)
(73)
(93)
(167)
(387)
(419)
(474)
(712)
(720)
(779)
(950)
(719)
(513)
(454)
(268)
(214)
(173)
(117)
(77)
(68)
(98)
(133)
(144)
(133)
(125)
(118)
(101)
(142)
(121)
(132)
(138)
(109)
(114)
(152)
(145)
2
65
64
(106)
(108)
(124)
(159)
(140)
(181)
(165)
(127)
Other Items
(124)
(216)
(243)
(232)
(245)
(158)
(72)
(77)
(68)
(54)
(56)
(28)
(16)
(8)
(10)
3
1
0
0
0
1
0
0
1
0
1
1
1
1
1
(9)
1
1
1
11
1
1
0
0
1
1
1
1
0
1
1
1
1
0
0
0
0
0
3
3
4
5
2
1
1
0
(50)
(279)
2
2
52
282
2
2
2
2
0
(0)
(0)
(0)
(47)
(47)
(344)
(744)
(692)
(588)
121
522
638
540
Cash from Investing Activities
(129)
N/A
(219)
-69%
(245)
-12%
(234)
+5%
(247)
-5%
(161)
+35%
(75)
+54%
(79)
-6%
(71)
+10%
(56)
+21%
(58)
-4%
(38)
+34%
(30)
+23%
(27)
+7%
(31)
-15%
(30)
+3%
(31)
-1%
(27)
+11%
(16)
+41%
(10)
+41%
(7)
+24%
(7)
+7%
(3)
+59%
(5)
-82%
(8)
-55%
(13)
-59%
(25)
-97%
(26)
-5%
(28)
-8%
(26)
+9%
(29)
-12%
(19)
+36%
(20)
-9%
(20)
+3%
(44)
-122%
(55)
-27%
(55)
0%
(56)
0%
(22)
+61%
(48)
-123%
(72)
-50%
(91)
-27%
(165)
-81%
(387)
-134%
(418)
-8%
(473)
-13%
(711)
-50%
(719)
-1%
(779)
-8%
(950)
-22%
(718)
+24%
(512)
+29%
(454)
+11%
(265)
+42%
(211)
+20%
(169)
+20%
(112)
+34%
(76)
+33%
(67)
+11%
(98)
-46%
(133)
-37%
(193)
-45%
(412)
-113%
(122)
+70%
(116)
+6%
(48)
+58%
139
N/A
(119)
N/A
(130)
-9%
(135)
-4%
(107)
+21%
(114)
-6%
(152)
-33%
(145)
+4%
2
N/A
18
+968%
17
-3%
(451)
N/A
(851)
-89%
(817)
+4%
(747)
+8%
(19)
+98%
341
N/A
473
+39%
412
-13%
Financing Cash Flow
Net Issuance of Common Stock
0
0
292
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Net Issuance of Debt
(96)
(76)
(102)
(193)
(108)
(109)
(84)
(10)
(76)
(103)
(105)
(130)
(172)
(136)
(117)
(45)
(28)
2
(65)
(188)
(204)
(248)
(210)
(119)
(107)
(135)
(130)
(177)
(182)
(140)
(173)
(153)
(138)
(171)
(124)
(93)
(74)
(34)
0
0
0
0
0
0
0
44
301
479
573
714
551
371
387
290
203
90
(99)
(475)
(667)
(586)
(590)
(471)
(389)
(356)
(272)
(104)
(3)
(3)
(4)
(4)
(4)
(4)
(4)
(4)
0
0
(0)
(4)
(4)
(4)
(4)
(4)
(4)
(4)
(4)
Cash Paid for Dividends
0
0
(33)
0
(65)
(65)
(33)
0
(13)
(13)
(13)
0
(26)
(26)
(26)
0
(7)
(7)
(7)
0
0
0
0
0
(16)
(49)
(49)
0
(52)
(20)
(20)
0
(20)
(46)
(46)
0
(78)
(104)
(104)
0
(130)
(143)
(143)
0
(130)
(65)
(65)
0
(98)
(98)
(97)
0
(98)
(98)
(97)
0
(163)
0
(162)
0
(227)
(390)
(390)
0
(435)
(435)
(702)
0
(520)
(520)
(513)
0
(461)
(741)
0
(455)
(390)
(390)
0
(526)
(540)
(540)
0
(423)
(390)
Other
0
0
(4)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(8)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Cash from Financing Activities
(96)
N/A
(76)
+20%
153
N/A
63
-59%
115
+82%
114
-1%
(116)
N/A
(43)
+63%
(89)
-108%
(116)
-31%
(118)
-1%
(143)
-22%
(198)
-38%
(162)
+18%
(143)
+12%
(71)
+50%
(35)
+51%
(4)
+88%
(71)
-1 600%
(195)
-173%
(204)
-5%
(248)
-22%
(210)
+15%
(119)
+44%
(123)
-4%
(184)
-49%
(179)
+3%
(226)
-26%
(234)
-4%
(160)
+32%
(192)
-21%
(173)
+10%
(157)
+9%
(217)
-38%
(169)
+22%
(138)
+18%
(152)
-10%
(138)
+9%
(104)
+25%
0
N/A
(130)
N/A
(143)
-10%
(143)
+0%
0
N/A
(130)
N/A
(21)
+84%
236
N/A
414
+76%
476
+15%
617
+30%
454
-26%
273
-40%
289
+6%
192
-34%
106
-45%
(7)
N/A
(262)
-3 536%
(638)
-144%
(829)
-30%
(748)
+10%
(987)
-32%
(861)
+13%
(779)
+10%
(746)
+4%
(700)
+6%
(539)
+23%
(704)
-31%
(705)
0%
(523)
+26%
(524)
0%
(518)
+1%
(518)
0%
(466)
+10%
(745)
-60%
0
N/A
26
+201 522%
91
+249%
(394)
N/A
(394)
+0%
(530)
-35%
(543)
-2%
(543)
+0%
(543)
0%
(426)
+22%
(394)
+8%
Change in Cash
Net Change in Cash
20
N/A
(59)
N/A
77
N/A
(3)
N/A
(57)
-1 803%
(18)
+68%
(109)
-499%
4
N/A
42
+995%
43
+3%
77
+81%
16
-80%
(31)
N/A
(53)
-71%
(66)
-24%
(26)
+61%
16
N/A
43
+170%
(15)
N/A
8
N/A
(18)
N/A
(30)
-72%
59
N/A
(14)
N/A
7
N/A
18
+162%
(58)
N/A
4
N/A
(4)
N/A
(28)
-651%
13
N/A
25
+94%
33
+31%
32
-2%
11
-67%
9
-13%
42
+349%
131
+213%
245
+87%
40
-84%
(15)
N/A
(102)
-597%
(232)
-127%
(34)
+85%
(40)
-18%
(42)
-5%
(27)
+35%
(16)
+42%
(10)
+36%
(4)
+62%
5
N/A
(2)
N/A
17
N/A
5
-71%
94
+1 809%
133
+42%
63
-52%
150
+136%
74
-51%
187
+153%
47
-75%
16
-66%
(61)
N/A
339
N/A
452
+33%
586
+30%
540
-8%
99
-82%
63
-37%
(74)
N/A
(24)
+67%
158
N/A
219
+39%
187
-15%
(173)
N/A
36
N/A
145
+305%
314
+117%
(42)
N/A
(458)
-1 002%
(467)
-2%
124
N/A
462
+272%
859
+86%
722
-16%
Free Cash Flow
Free Cash Flow
240
N/A
233
-3%
167
-28%
166
0%
73
-56%
26
-64%
79
+202%
125
+59%
199
+58%
213
+7%
251
+18%
187
-26%
183
-2%
117
-36%
87
-25%
43
-51%
50
+16%
47
-5%
57
+20%
202
+258%
186
-8%
217
+17%
269
+24%
104
-61%
130
+24%
201
+55%
121
-40%
229
+90%
230
+0%
131
-43%
215
+63%
197
-8%
189
-4%
248
+31%
169
-32%
147
-13%
193
+31%
269
+39%
349
+30%
143
-59%
114
-20%
39
-66%
(90)
N/A
109
N/A
90
-18%
(22)
N/A
(263)
-1 114%
(431)
-64%
(486)
-13%
(621)
-28%
(450)
+28%
(275)
+39%
(272)
+1%
(190)
+30%
(16)
+92%
136
N/A
320
+135%
785
+145%
902
+15%
935
+4%
1 034
+11%
928
-10%
997
+7%
1 082
+9%
1 149
+6%
1 073
-7%
962
-10%
801
-17%
583
-27%
447
-23%
492
+10%
676
+37%
685
+1%
932
+36%
(173)
N/A
57
N/A
101
+77%
1 053
+944%
1 096
+4%
765
-30%
665
-13%
546
-18%
483
-12%
646
+34%
576
-11%

See Also

Summary
UTP intrinsic value, competitors valuation, and company profile.
DCF Valuation
UTP stock valuation using Discount Cash Flow valuation method.
Relative Valuation
UTP stock valuation using valuation multiples.
Wall Street Estimates
UTP price targets and financial estimates made by Wall st analysts.
Profitability Analysis
Detailed analysis of the company's profitability.
Solvency Analysis
Analysis of the financial position and solvency of the company.
Financials
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
UTP stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall Street Estimates
Profitability Analysis
Solvency Analysis
Financials
Discount Rate
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