TV Thunder Public Company Limited

TVT.BK

Entertainment · Communication Services

Price

0.25 THB

+0.00 (+0.00%)

Market Cap

200.0M THB

Exchange

Stock Exchange of Thailand

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 9, 2026 · filings through Mar 31, 2026

TV Thunder Public Company Limited is a Thai media and entertainment company based in Thailand. It produces and distributes television content, including dramas, variety shows, and other programming, primarily for Thai audiences. The company operates in Thailand's domestic broadcast and pay-TV market, competing with larger local broadcasters and streaming platforms.

The company earns revenue mainly through advertising sales tied to its TV programming, along with content licensing and production services. It operates almost entirely within Thailand, making it a small, domestically focused player with a market capitalization of roughly $0.2 billion. The negative operating margin and negative return on invested capital suggest the business is currently spending more than it earns, which is a significant concern. The key risk facing TV Thunder is the ongoing shift of Thai audiences away from traditional television toward online streaming services, which continues to pressure advertising revenue across the entire Thai broadcast industry.

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

-9.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+25.9% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (12%)

Research and development spending

Insider Activity

76.1%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$201M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Revenue declining

TV Thunder 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: 800.0M (2021) → 800.0M (2025)

Score breakdown

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Quality

Gross Margin

11.6%

Thin — 11.6% gross margin

Operating Margin

-46.1%

Losing money on operations — -46.1%

ROCE

-1.8%

Weak — -1.8% return on capital

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

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Growth

Sales YoY

-20.7%

Shrinking sales (-20.7% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

0.9%

Thin free cash flow (0.9%)

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

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Stability

Debt / Equity

N/A

Data not available

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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