Balance Sheet Moshi Moshi Retail Corporation

Equities

MOSHI

THB131010001

Other Specialty Retailers

End-of-day quote Thailand S.E. Other stock markets 04/12/2025			5-day change	1st Jan Change
33.75 ^THB	+0.75%		0.00%	-21.97%

14/11	Moshi Moshi Retail Corporation logs qtrly net profit 137.23 mln baht	RE
13/11	Moshi Moshi Retail Corporation Public Company Limited Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2025	CI

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Published financial data: MOSHI MOSHI RETAIL CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	1.36B	1.26B	1.89B	2.53B	3.11B
Other Revenues, Total	2.63M	-	-	-	-
Total Revenues	1.37B	1.26B	1.89B	2.53B	3.11B
Cost of Goods Sold, Total	640M	578M	899M	1.18B	1.45B
Gross Profit	726M	677M	991M	1.35B	1.66B
Selling General & Admin Expenses, Total	579M	495M	654M	815M	975M
Other Operating Expenses	-564K	-854K	-654K	-585K	-643K
Other Operating Expenses, Total	579M	494M	654M	815M	975M
Operating Income	147M	184M	337M	535M	689M
Interest Expense, Total	-19.54M	-25.44M	-26.65M	-53.38M	-75.42M
Interest And Investment Income	2.45M	2.59M	3.1M	9.01M	14.67M
Net Interest Expenses	-17.09M	-22.86M	-23.55M	-44.37M	-60.75M
Other Non Operating Income (Expenses)	2.26M	3.1M	7.9M	10.2M	8.96M
EBT, Excl. Unusual Items	132M	164M	322M	501M	638M
Gain (Loss) On Sale Of Investments	-	-	-	8.72M	17.16M
Insurance Settlements	-	2.72M	160K	68.41K	18.32K
EBT, Incl. Unusual Items	132M	167M	322M	510M	655M
Income Tax Expense	31.37M	35.41M	68.74M	108M	134M
Earnings From Continuing Operations	101M	131M	253M	402M	521M
Net Income to Company	101M	131M	253M	402M	521M
Net Income - (IS)	101M	131M	253M	402M	521M
Net Income to Common Incl Extra Items	101M	131M	253M	402M	521M
Net Income to Common Excl. Extra Items	101M	131M	253M	402M	521M
Per Share Items
Net EPS - Basic	577.31	530.37	0.95	1.22	1.58
Basic EPS - Continuing Operations	577.31	530.37	0.95	1.22	1.58
Basic Weighted Average Shares Outstanding	175K	248K	266M	330M	330M
Net EPS - Diluted	577.31	530.37	0.95	1.22	1.58
Diluted EPS - Continuing Operations	577.31	530.37	0.95	1.22	1.58
Diluted Weighted Average Shares Outstanding	175K	248K	266M	330M	330M
Normalized Basic EPS	472.74	414.03	0.76	0.95	1.21
Normalized Diluted EPS	472.74	414.03	0.76	0.95	1.21
Dividend Per Share	-	-	0.09	0.6	0.8
Payout Ratio	-	-	331.58	7.47	38.03
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	222M	276M	431M	617M	767M
EBITA	149M	190M	343M	543M	696M
EBIT	147M	184M	337M	535M	689M
EBITDAR	252M	310M	477M	664M	813M
Total Revenues (As Reported)	1.37B	1.26B	1.9B	2.54B	3.13B
Effective Tax Rate - (Ratio)	23.68	21.24	21.35	21.25	20.47
Current Domestic Taxes	34.47M	-	-	-	-
Total Current Taxes	34.47M	31.2M	68.97M	107M	142M
Deferred Domestic Taxes	-3.1M	-	-	-	-
Total Deferred Taxes	-3.1M	4.21M	-229K	1.78M	-8.24M
Normalized Net Income	82.81M	102M	201M	313M	398M
Interest on Long-Term Debt	18.53M	21.27M	25.66M	52.99M	74.63M
Non-Cash Pension Expense	102K	302K	503K	814K	799K
Supplemental Operating Expense Items
Marketing Expenses	5.93M	6.46M	10.81M	16.94M	28.18M
Selling and Marketing Expenses	497M	432M	569M	711M	865M
General and Administrative Expenses	81.99M	62.22M	85.19M	104M	110M
Net Rental Expense, Total	30.02M	34.25M	46.35M	47.02M	46.09M
Imputed Operating Lease Interest Expense	-	8.08M	12.67M	20.07M	20.22M
Imputed Operating Lease Depreciation	-	26.17M	33.68M	26.95M	25.87M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	121M	238M	756M	95.09M	177M
Short Term Investments	-	-	-	319M	187M
Trading Asset Securities, Total	529K	-	50.33M	771M	791M
Total Cash And Short Term Investments	121M	238M	806M	1.19B	1.15B
Accounts Receivable, Total	1.27M	2.16M	2.74M	2.43M	9.56M
Other Receivables	21.44M	2.18M	1.59M	3.16M	4.83M
Total Receivables	22.71M	4.33M	4.32M	5.59M	14.39M
Inventory	261M	259M	404M	422M	706M
Prepaid Expenses	2.88M	4.75M	2.27M	1.69M	7.03M
Other Current Assets, Total	-	2.39M	4.81M	10.09M	4.49M
Total Current Assets	408M	508M	1.22B	1.62B	1.89B
Gross Property Plant And Equipment	1.67B	1.6B	1.78B	2.28B	2.69B
Accumulated Depreciation	-163M	-242M	-323M	-393M	-454M
Net Property Plant And Equipment	1.51B	1.35B	1.45B	1.89B	2.23B
Long-term Investments	-	-	-	-	55.7M
Other Intangibles, Total	31.8M	33.31M	33.95M	30.5M	54.79M
Deferred Tax Assets Long-Term	11.11M	6.9M	5.86M	4.08M	27.69M
Other Long-Term Assets, Total	76.14M	90.02M	86.86M	98.66M	116M
Total Assets	2.03B	1.99B	2.8B	3.64B	4.38B
Liabilities
Accounts Payable, Total	156M	134M	168M	217M	216M
Accrued Expenses, Total	25.96M	30.77M	51.19M	63.31M	108M
Short-term Borrowings	130M	169M	-	-	-
Current Portion of Long-Term Debt	22.64M	-	-	-	-
Current Portion of Leases	176M	162M	167M	227M	276M
Current Income Taxes Payable	17.76M	23.93M	39.7M	62.3M	87.24M
Unearned Revenue Current, Total	-	-	-	-	14.71M
Other Current Liabilities	12.86M	12.29M	101M	31.48M	30.06M
Total Current Liabilities	541M	532M	527M	601M	732M
Long-Term Debt	109M	-	-	-	-
Long-Term Leases	505M	452M	610M	997M	1.25B
Pension & Other Post Retirement Benefits	23.08M	26.97M	26.14M	32.81M	37.05M
Other Non Current Liabilities	32.92M	28.11M	27.68M	30.09M	35.55M
Total Liabilities	1.21B	1.04B	1.19B	1.66B	2.05B
Common Stock, Total	225M	225M	300M	330M	330M
Additional Paid In Capital	-	-	1.18B	1.18B	1.18B
Retained Earnings	597M	729M	132M	474M	813M
Comprehensive Income and Other	-	-	-	-	-
Total Common Equity	822M	954M	1.61B	1.98B	2.32B
Total Equity	822M	954M	1.61B	1.98B	2.32B
Total Liabilities And Equity	2.03B	1.99B	2.8B	3.64B	4.38B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	248K	248K	330M	330M	330M
ECS Total Common Shares Outstanding	248K	248K	330M	330M	330M
Book Value / Share	3.32K	3.85K	4.88	6.01	7.03
Tangible Book Value	790M	920M	1.58B	1.95B	2.27B
Tangible Book Value Per Share	3.19K	3.72K	4.78	5.91	6.87
Total Debt	943M	783M	777M	1.22B	1.53B
Net Debt	822M	545M	-29.48M	39.23M	371M
Debt Equivalent of Unfunded Proj. Benefit Obligation	23.08M	26.97M	26.14M	32.81M	37.05M
Debt Equivalent Oper. Leases	240M	274M	371M	376M	369M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	21.34M	11.96M	6.52M	6.06M	4.7M
Inventories - Work In Process, Total	-	-	6.9M	1.19M	2.4M
Inventories - Finished Goods, Total	254M	251M	395M	414M	697M
Inventories - Others	-	8.73M	8.24M	8.09M	13.08M
Land - (BS)	315M	314M	314M	314M	314M
Buildings, Total	364M	368M	387M	430M	486M
Machinery, Total	308M	311M	327M	364M	415M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	101M	131M	253M	402M	521M
Depreciation & Amortization - CF	234M	276M	279M	296M	345M
Amortization of Goodwill and Intangible Assets - (CF)	1.58M	5.92M	5.93M	7.94M	6.64M
Depreciation & Amortization, Total	236M	282M	285M	304M	351M
Amortization of Deferred Charges, Total - (CF)	2.5M	3.12M	3.41M	3.66M	3.41M
(Gain) Loss From Sale Of Asset	-	-1.45M	-	-11.52K	180K
(Gain) Loss on Sale of Investments - (CF)	-810K	-420	-335K	-8.72M	-17.16M
Asset Writedown & Restructuring Costs	6.61M	2.67M	77.86K	402K	1.37M
Other Operating Activities, Total	-9.52M	-45.29M	21.26M	67.6M	90.82M
Change In Accounts Receivable	29.89M	16.5M	-330K	-1.83M	-9.82M
Change In Inventories	31.68M	3.47M	-145M	-13.16M	-287M
Change In Accounts Payable	-73.79M	-17.56M	54.81M	55.28M	50.49M
Change in Unearned Revenues	-	-	-	-	7.61M
Change in Other Net Operating Assets	7.72M	-11.54M	82.27M	-90.51M	-23.57M
Cash from Operations	331M	363M	555M	719M	688M
Capital Expenditure	-47.87M	-29.13M	-42.07M	-72.36M	-149M
Sale of Property, Plant, and Equipment	3.96M	1.96M	-	74.94K	13.94K
Cash Acquisitions	-419M	-	-	-	-
Sale (Purchase) of Intangible assets	-20.64M	-6.82M	-6.8M	-14.15M	-29.95M
Investment in Marketable and Equity Securities, Total	90.35M	529K	-50M	-1.03B	74.53M
Other Investing Activities, Total	135K	60.63K	381K	4.35M	8.07M
Cash from Investing	-393M	-33.41M	-98.48M	-1.11B	-96.52M
Short Term Debt Issued, Total	105M	130M	754M	-	-
Total Debt Issued	105M	130M	754M	-	-
Short Term Debt Repaid, Total	-	-91.14M	-923M	-	-
Long-Term Debt Repaid, Total	-144M	-226M	-136M	-183M	-237M
Total Debt Repaid	-144M	-317M	-1.06B	-183M	-237M
Issuance of Common Stock	75M	-	1.26B	-	-
Common Dividends Paid	-	-	-839M	-30M	-198M
Common & Preferred Stock Dividends Paid	-	-	-839M	-30M	-198M
Other Financing Activities, Total	-20.25M	-25.75M	-53.78M	-52.99M	-74.63M
Cash from Financing	15.66M	-213M	61.79M	-266M	-509M
Net Change in Cash	-45.58M	117M	518M	-661M	82.09M
Supplemental Items
Cash Interest Paid	20.25M	25.75M	26.41M	52.99M	74.63M
Cash Income Tax Paid (Refund)	77.82M	25.03M	47.73M	83.94M	117M
Levered Free Cash Flow	225M	353M	448M	512M	349M
Unlevered Free Cash Flow	237M	369M	465M	545M	396M
Change In Net Working Capital	24.87M	-5.13M	-14.64M	10.7M	211M
Net Debt Issued / Repaid	-39.09M	-187M	-305M	-183M	-237M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	6.1	5.7	8.8	10.38	10.72
Return on Total Capital	7.64	6.56	10.23	11.96	12.19
Return On Equity %	13.78	14.78	19.75	22.35	24.11
Return on Common Equity	13.78	14.78	19.75	22.35	24.11
Margin Analysis
Gross Profit Margin %	53.16	53.94	52.42	53.37	53.48
SG&A Margin	42.41	39.38	34.61	32.23	31.35
EBITDA Margin %	16.27	21.95	22.81	24.39	24.64
EBITA Margin %	10.91	15.1	18.16	21.47	22.37
EBIT Margin %	10.79	14.63	17.85	21.16	22.15
Income From Continuing Operations Margin %	7.41	10.45	13.39	15.87	16.74
Net Income Margin %	7.41	10.45	13.39	15.87	16.74
Net Avail. For Common Margin %	7.41	10.45	13.39	15.87	16.74
Normalized Net Income Margin	6.06	8.16	10.64	12.38	12.81
Levered Free Cash Flow Margin	16.47	28.12	23.72	20.24	11.2
Unlevered Free Cash Flow Margin	17.37	29.39	24.61	21.56	12.72
Asset Turnover
Asset Turnover	0.91	0.62	0.79	0.79	0.77
Fixed Assets Turnover	1.53	0.88	1.35	1.52	1.51
Receivables Turnover (Average Receivables)	74.17	733.58	772.67	978.49	518.83
Inventory Turnover (Average Inventory)	2.25	2.22	2.72	2.86	2.56
Short Term Liquidity
Current Ratio	0.75	0.95	2.32	2.7	2.58
Quick Ratio	0.27	0.46	1.54	1.98	1.6
Operating Cash Flow to Current Liabilities	0.61	0.68	1.05	1.2	0.94
Days Sales Outstanding (Average Receivables)	4.93	0.5	0.47	0.37	0.71
Days Outstanding Inventory (Average Inventory)	162.36	164.1	134.41	127.74	143.2
Average Days Payable Outstanding	96.29	91.95	52.81	58.69	45.88
Cash Conversion Cycle (Average Days)	71	72.65	82.08	69.42	98.03
Long Term Solvency
Total Debt/Equity	114.66	82.16	48.22	61.77	65.73
Total Debt / Total Capital	53.41	45.1	32.53	38.18	39.66
LT Debt/Equity	74.7	47.41	37.87	50.33	53.84
Long-Term Debt / Total Capital	34.8	26.03	25.55	31.11	32.48
Total Liabilities / Total Assets	59.57	52.15	42.51	45.6	46.94
EBIT / Interest Expense	7.54	7.22	12.66	10.03	9.14
EBITDA / Interest Expense	19.62	18.3	23.36	15.73	13.8
(EBITDA - Capex) / Interest Expense	17.17	17.16	21.78	14.37	11.82
Total Debt / EBITDA	2.46	1.68	1.25	1.46	1.47
Net Debt / EBITDA	2.14	1.17	-0.05	0.05	0.36
Total Debt / (EBITDA - Capex)	2.81	1.79	1.34	1.6	1.71
Net Debt / (EBITDA - Capex)	2.45	1.25	-0.05	0.05	0.42
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-19.79	-7.85	50.54	33.81	23
Gross Profit, 1 Yr. Growth %	-18.38	-6.35	46.3	36.23	23.27
EBITDA, 1 Yr. Growth %	-50.52	25.59	56.42	43.12	24.26
EBITA, 1 Yr. Growth %	-61.82	29.63	81.05	58.21	28.13
EBIT, 1 Yr. Growth %	-62.17	26.95	83.65	58.63	28.79
Earnings From Cont. Operations, 1 Yr. Growth %	-67.5	29.8	92.86	58.59	27.54
Net Income, 1 Yr. Growth %	-67.5	29.8	92.86	58.59	27.54
Normalized Net Income, 1 Yr. Growth %	-65.99	23.74	96.24	55.89	27.24
Diluted EPS Before Extra, 1 Yr. Growth %	-69.39	-8.13	91.55	27.74	27.54
Accounts Receivable, 1 Yr. Growth %	-96.43	70.05	26.97	-11.11	292.95
Inventory, 1 Yr. Growth %	-14.56	-1.05	56.11	4.46	65.25
Net Property, Plant and Equip., 1 Yr. Growth %	444.34	-10.07	7.3	29.72	18.53
Total Assets, 1 Yr. Growth %	106.76	-2	40.57	30.04	19.6
Tangible Book Value, 1 Yr. Growth %	25.44	16.42	71.32	23.78	15.23
Common Equity, 1 Yr. Growth %	27.38	15.96	68.89	23.07	16.21
Cash From Operations, 1 Yr. Growth %	-9.87	9.6	52.7	29.58	-4.26
Capital Expenditures, 1 Yr. Growth %	-60.41	-93.75	44.39	72.01	106.19
Levered Free Cash Flow, 1 Yr. Growth %	13.37	-280.91	26.99	14.15	-31.91
Unlevered Free Cash Flow, 1 Yr. Growth %	19.34	-301.67	26.03	17.24	-27.44
Dividend Per Share, 1 Yr. Growth %	-	-	-	560.07	33.33
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	3.08	-14.11	17.78	41.93	28.29
Gross Profit, 2 Yr. CAGR %	26.05	-12.73	17.05	41.17	29.59
EBITDA, 2 Yr. CAGR %	14.48	-21.64	40.16	49.63	33.36
EBITA, 2 Yr. CAGR %	5.25	-30.27	53.2	69.24	42.37
EBIT, 2 Yr. CAGR %	4.69	-31.32	52.69	70.69	42.93
Earnings From Cont. Operations, 2 Yr. CAGR %	-3.25	-35.05	58.22	74.89	43.41
Net Income, 2 Yr. CAGR %	-3.25	-35.05	58.22	74.89	43.41
Normalized Net Income, 2 Yr. CAGR %	-0.94	-35.12	55.83	74.81	40.84
Diluted EPS Before Extra, 2 Yr. CAGR %	-12.57	-46.97	-95.94	56.43	28.71
Accounts Receivable, 2 Yr. CAGR %	-69.37	-75.35	46.94	6.23	86.89
Inventory, 2 Yr. CAGR %	10.69	-8.05	24.28	27.7	32.19
Net Property, Plant and Equip., 2 Yr. CAGR %	168.12	121.25	-1.77	17.98	24
Total Assets, 2 Yr. CAGR %	94.4	42.34	17.37	35.2	24.98
Tangible Book Value, 2 Yr. CAGR %	54.31	20.84	41.22	45.62	19.91
Common Equity, 2 Yr. CAGR %	56.25	21.54	39.95	44.17	20.06
Cash From Operations, 2 Yr. CAGR %	61.47	-0.61	29.37	40.67	11.39
Capital Expenditures, 2 Yr. CAGR %	-38.96	-50.92	-69.97	57.59	88.32
Levered Free Cash Flow, 2 Yr. CAGR %	-	33.42	51.57	20.4	-11.84
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	36.28	59.42	21.55	-7.76
Dividend Per Share, 2 Yr. CAGR %	-	-	-	-	196.66
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-0.76	3.56	22.9	35.31
Gross Profit, 3 Yr. CAGR %	-	14.03	3.67	23.12	34.93
EBITDA, 3 Yr. CAGR %	-	17.6	-1.33	41.14	40.64
EBITA, 3 Yr. CAGR %	-	12.15	-4.16	54.85	54.25
EBIT, 3 Yr. CAGR %	-	10.97	-4.67	54.65	55.39
Earnings From Cont. Operations, 3 Yr. CAGR %	-	6.7	-6.65	58.35	58.3
Net Income, 3 Yr. CAGR %	-	6.7	-6.65	58.35	58.3
Normalized Net Income, 3 Yr. CAGR %	-	6.68	-6.18	55.8	57.25
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-11.11	-92.04	-87.18	46.95
Accounts Receivable, 3 Yr. CAGR %	-	-45.76	-57.43	24.27	64.29
Inventory, 3 Yr. CAGR %	-	6.63	9.69	17.29	39.72
Net Property, Plant and Equip., 3 Yr. CAGR %	-	86.29	73.83	7.77	18.16
Total Assets, 3 Yr. CAGR %	-	54.72	41.75	21.45	29.97
Tangible Book Value, 3 Yr. CAGR %	-	40.48	35.75	35.15	35.05
Common Equity, 3 Yr. CAGR %	-	41.47	35.63	34.08	34.53
Cash From Operations, 3 Yr. CAGR %	-	41.91	14.68	29.44	23.74
Capital Expenditures, 3 Yr. CAGR %	-	-39.02	-29.67	-46.27	72.36
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	31.24	37.9	-0.44
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	32.77	43.9	2.35
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	14.51	12.82
Gross Profit, 5 Yr. CAGR %	-	-	-	24.19	13.35
EBITDA, 5 Yr. CAGR %	-	-	-	29.49	11.31
EBITA, 5 Yr. CAGR %	-	-	-	32.22	12.28
EBIT, 5 Yr. CAGR %	-	-	-	31.83	12.09
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	30.02	10.84
Net Income, 5 Yr. CAGR %	-	-	-	30.02	10.84
Normalized Net Income, 5 Yr. CAGR %	-	-	-	29.98	10.35
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	-72.37	-75.77
Accounts Receivable, 5 Yr. CAGR %	-	-	-	-29.03	-23.07
Inventory, 5 Yr. CAGR %	-	-	-	14.6	18.19
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	55.18	51.86
Total Assets, 5 Yr. CAGR %	-	-	-	46.59	34.79
Tangible Book Value, 5 Yr. CAGR %	-	-	-	42.51	29.18
Common Equity, 5 Yr. CAGR %	-	-	-	42.54	29.17
Cash From Operations, 5 Yr. CAGR %	-	-	-	41.41	13.35
Capital Expenditures, 5 Yr. CAGR %	-	-	-	-10.85	4.29
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	11.93
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	14.77