Delta Electronics (Thailand) Public Company Limited

DELTA.BK

Electrical Equipment & Parts · Industrials

Price

262.00 THB

+0.00 (+0.00%)

Market Cap

3.27T THB

Exchange

Stock Exchange of Thailand

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 9, 2026 · filings through Jun 30, 2026

Delta Electronics (Thailand) is a manufacturer of power electronics and energy-saving products. It makes things like power supplies, industrial automation equipment, and EV charging systems. The company sells to customers in industries such as manufacturing, data centers, and electric vehicles, and it is a key subsidiary of Delta Electronics, Inc., the Taiwan-based global leader in power management solutions.

The company earns revenue by selling hardware products directly to industrial and commercial customers across Asia and globally. Listed on the Stock Exchange of Thailand, Delta Electronics (Thailand) benefits from its parent company's scale, technology, and global customer relationships, which act as a strong competitive moat. The main growth driver is rising demand for EV infrastructure and energy-efficient industrial equipment, though the business faces risks from customer concentration, supply chain disruptions, and currency fluctuations given its export-heavy model.

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

+46.5% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+32.4% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$5.9B/ year

↑ Rising (+49% vs prior year)

3.0% of revenue

Below sector average (4%)

R&D investment increasing — building for the future

Insider Activity

62.2%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$19.0B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue accelerating

Delta Electronics (Thailand) Public Company Limited grew revenue 47% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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: 12.47B (2021) → 12.47B (2025)

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

26.8%

Modest — 26.8% gross margin

Operating Margin

9.4%

Modest — 9.4% operating margin

ROCE

5.6%

Weak — 5.6% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales YoY

+37.9%

Fast-growing sales (+37.9% YoY)

EPS YoY

+65.5%

Earnings growing fast (+65.5% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Cash Conversion

103%

Turns 103% of profit into real cash

FCF Margin

5.1%

Thin free cash flow (5.1%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

Debt / Equity

0.04

Conservative — low debt load (0.04)

Interest Cover

613.44x

Comfortably covers interest (613.4x)

Interest coverage above 8. Profits cover interest many times over.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

P/E Ratio (TTM)

109.2x

Expensive — P/E 109.2

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+59.5

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (109.2 → 49.7)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend Yield

0.22%

Small dividend — 0.22% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

-39.5%

Dividend cut (-39.5% YoY) — warning sign

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial