City Steel Public Company Limited

CITY.BK

Manufacturing - Metal Fabrication · Industrials

Price

1.18 THB

+0.01 (+0.85%)

Market Cap

354.0M THB

Exchange

Stock Exchange of Thailand

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Jul 28, 2026 · filings through Apr 30, 2026

City Steel Public Company Limited, alongside its associated companies, is primarily engaged in the production and distribution of metal structures, diverse storage solutions and material handling apparatus, and custom-fabricated metal components across Thailand. The company also provides specialized steel service center and processing capabilities. Its extensive portfolio of storage and material handling equipment includes various racking systems, modular and specialized shelving (such as mobile systems and pipe racks), conveyor setups, mezzanine platforms, cabinets, lockers, carts, dollies, pallets, and essential dock and handling machinery. Furthermore, City Steel supplies a range of metal goods, industrial materials, and general equipment. Established in 1995, the firm maintains its principal offices in Chonburi, Thailand, and functions as a subsidiary of WKP Asset Plus Company Limited.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-18.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+72.0% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Cash Position

Cash flow positive

$1.1B cash & investments

Quarterly Free Cash Flow

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

City Steel Public Company Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

0.0% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 300.0M (2021) → 300.0M (2025)

Score breakdown

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Quality

Gross Margin

-3.5%

Thin — -3.5% gross margin

Operating Margin

-35.1%

Losing money on operations — -35.1%

ROCE

-0.4%

Weak — -0.4% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+7.5%

Steady sales growth (7.5% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-16.5%

Burning cash (-16.5%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.00

Conservative — low debt load (0.00)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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