Taokaenoi Food & Marketing Public Company Limited

TKN.BK

Packaged Foods · Consumer Defensive

Price

4.10 THB

+0.00 (+0.00%)

Market Cap

5.60B THB

Exchange

Stock Exchange of Thailand

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Jul 28, 2026 · filings through Mar 31, 2026

Share count falling — buybacks

−1.0% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 1.38B (2021) → 1.37B (2025)

Taokaenoi Food & Marketing Public Company Limited, founded in 2004 and based in Pak Kret, Thailand, is a prominent manufacturer and supplier of seaweed-based snacks. The company produces a range of fried, grilled, and baked seaweed products, distributing them across various international markets including Thailand, China, Malaysia, Indonesia, Vietnam, the United States, Cambodia, Laos, and Myanmar. Its business activities are organized into three primary divisions: Snacks, Retailer, and Others. Beyond its core snack production, Taokaenoi also functions as a retailer of a wider assortment of snacks, as well as food and beverage items. The company's operations further extend to the distribution of snacks and souvenirs, the manufacturing and sale of seasoning powders, and active participation in the restaurant sector.

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

-6.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+2.8% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (2%)

Research and development spending

Cash Runway

~2 months

$646M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Taokaenoi Food & Marketing Public Company Limited has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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.

Score breakdown

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Quality

Gross Margin

32.4%

Modest — 32.4% gross margin

Operating Margin

8.6%

Modest — 8.6% operating margin

ROCE

2.8%

Weak — 2.8% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

-8.1%

Shrinking sales (-8.1% YoY)

EPS YoY

-34.3%

Earnings shrinking (-34.3% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

-10%

Weak — only -10% of profit becomes cash

FCF Margin

-5.2%

Burning cash (-5.2%)

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

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Stability

Debt / Equity

0.72

Moderate — manageable debt (0.72)

Interest Cover

19.17x

Comfortably covers interest (19.2x)

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

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Valuation

P/E Ratio (TTM)

13.6x

Attractive valuation — P/E 13.6

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

-0.6

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend Yield

6.10%

Healthy income — 6.10% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend Growth

+30.5%

Dividend growing fast (30.5% YoY)

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