Key Financial Ratios 2019/20 2018/19
(Restated)
2017/18 2016/17 2015/16
Profitability ratios
Gross operating profit margin (%) 24.0% 16.4% 41.0% 51.9% 60.4%
Operating EBITDA margin (%) 18.7% 12.8% 29.0% 34.0% 42.9%
Recurring net profit margin (%) 11.4% 6.6% 16.0% 15.4% 29.2%
Net profit margin (%) 18.5% 5.9% 25.3% 20.1% 41.9%
ROA (%) 5.6% 2.8% 4.8% 2.8% 6.6%
ROE (%) 14.8% 7.2% 10.5% 4.9% 8.9%
Liquidity Ratio  
Current Ratio (times) 0.68x 0.47x 0.95x 1.38x 0.81x
Leverage  
Interest bearing debt to equity (times) 1.32x 1.39x 1.02x 0.85x 0.20x
Adjusted net debt1 to equity (times) 1.05x 1.03x 0.37x 0.13x 0.15x
Adjusted net debt1 to operating EBITDA (times) 7.35x 7.43x 3.03x 1.72x 2.57x
Interest coverage (times) 3.32x 3.74x 3.31x 4.55x 9.30x
Per share ratios 2  
Earnings per share (THB) 0.65 0.24 0.37 0.17 0.35
Book value per share (THB) 5.32 4.42 3.91 3.82 3.96

1 *Adjusted net debt: Calculated based on interest bearing debt - cash and cash equivalent and liquid investment
2 per share ratios, calculated based on numbers of shares with par value at THB 4 per share

Key Financial Ratios 1Q 19/20 2Q 19/20 3Q 19/20 4Q 19/20 1Q 20/21 2Q 20/21 3Q 20/21
Profitability ratios
Gross operating profit margin (%) 17.8% 21.0% 19.9% 19.5% 14.2% 17.0% 18.3%
Recurring EBITDA margin (%) 25.9% 22.8% 36.4% 16.5% 15.6% 22.6% 30.6%
Recurring net profit margin (%) 14.3% 9.4% 19.0% 6.7% 4.5% 7.7% 13.3%
Net profit margin (%) 9.6% 10.7% 22.0% 29.6% 4.1% 7.6% 14.1%
ROA (%) 2.9% 3.3% 3.9% 2.8% 4.7% 4.3% 3.7%
ROE (%) 7.2% 8.2% 9.5% 7.4% 12.8% 11.8% 9.7%
Liquidity Ratio            
Current Ratio (times) 1.05x 0.65x 0.66x 0.68x 0.40x 0.37x 0.51x
Leverage            
Interest bearing debt to equity (times) 1.32x 1.18x 1.11x 1.32x 1.39x 1.57x 1.48x
Adjusted net debt1 to equity (times) 0.82x 0.90x 0.84x 1.05x 1.15x 1.31x 1.21x
Adjusted net debt1 to recurring EBITDA (times) 6.52x 6.65x 5.80x 7.35x 8.06x 9.64x 11.77x
Interest coverage (times) 3.90x 4.19x 6.76x 2.30x 2.65x 3.31x 4.08x
Per share ratios 2            
Earnings per share (THB) 0.08 0.10 0.19 0.28 0.03 0.06 0.13
Book value per share (THB) 5.49 5.22 5.59 5.32 4.79 4.78 5.55

1 Adjusted net debt: Calculated based on interest bearing debt - cash and cash equivalent and liquid investment
2 per share ratios, calculated based on numbers of shares with par value at THB 4 per share