TTW Public Company Limited (TTAPF) Stock Analysis
Educational signal · not a buy or sell recommendation · How to read this
DELISTED
What happened to TTW Public Company Limited (TTAPF) stock?
TTW Public Company Limited (TTAPF) no longer trades on public markets. The figures below are historical and are not a current quote.
P/E 13.08 means the share price is 13.08 times one year of earnings per share; the S&P 500 usually sits near 20-25. Market cap $1.18B is the value of all shares combined.
For informational purposes only. Not financial advice. Machine-generated analysis by Stock Expert AI — model gpt-4o-mini, generated Jun 14, 2026. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief. Data sources: Financial Modeling Prep, Yahoo Finance, SEC EDGAR
TTW Public Company Limited (TTAPF). TTW Public Company Limited operates in the regulated water sector in Thailand, providing treated water and wastewater management services. Market cap: $1.18B, Sector: Utilities.
Last analyzed: Jun 14, 2026Analyst Coverage for TTAPF: TTAPF does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates TTAPF against Utilities peers across nine fundamental dimensions and assigns a neutral fundamental signal based on the underlying data.
TTAPF: 2/2 scored disciplines lean bullish. Dominant signal: Seth Klarman bullish.
How is this calculated? →AI simulations built from the named investors' published principles. Not affiliated with, endorsed by, or the opinion of these individuals. How these lenses are built
TTW Public Company Limited (TTAPF) Utility Operations & Dividend Profile
TTW Public Company Limited is a leading provider of treated water in Thailand, known for its robust operational efficiency and strong profit margins, positioning itself as a key player in the regulated water industry.
What Is the Investment Thesis for TTAPF?
With a market capitalization of $1.18B and a P/E ratio of 13.08, the company demonstrates solid profitability and operational efficiency. The ongoing demand for treated water in Thailand, coupled with TTW's established relationships with local authorities, provides a stable revenue base. Additionally, the company's foray into renewable energy production aligns with global sustainability trends, potentially unlocking new growth avenues. The dividend yield of 6.42% further enhances its attractiveness to income-focused investors. However, potential risks include regulatory changes and competition in the utilities sector, which could impact future growth. Overall, TTW's combination of strong margins, diversified operations, and commitment to sustainability positions it well for continued success.
Based on FMP financials and quantitative analysis
TTAPF Key Highlights
Market capitalization of $1.18B reflects strong market presence in the utilities sector.
- P/E ratio of 13.08 indicates attractive valuation relative to industry peers.
- Profit margin of 62.2% showcases operational efficiency and strong cost management.
- Gross margin of 68.5% exceeds industry averages, highlighting competitive advantage.
- Dividend yield of 6.42% provides attractive income for investors.
Who Are TTAPF's Competitors?
TTAPF is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | MoonshotScore |
|---|---|---|---|---|
| TAP Molson Coors Beverage Company | $38.44 | -0.10% | $7.21B | — |
| THG The Hanover Insurance Group, Inc. | $226.16 | +0.96% | $7.87B | 975-pillar |
| MSEX Middlesex Water Company | $57.18 | -1.02% | $1.08B | 585-pillar |
| SJW SJW Group | $54.86 | -0.67% | $1.88B | — |
| WTTR Select Water Solutions, Inc. | $20.36 | -0.68% | $2.23B | 575-pillar |
| YORW The York Water Company | $33.35 | -1.01% | $541M | 429-signal |
| HTO H2O America | $63.03 | -1.96% | $2.64B | 545-pillar |
| CWT California Water Service Group | $48.86 | -1.15% | $3.02B | 505-pillar |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance This table mixes two scoring engines — compare a number only with others carrying the same tag.
What Are TTAPF's Key Strengths?
High profit margins indicating strong operational efficiency.
- Established market presence with long-term contracts.
- Diversified operations into renewable energy production.
What Are TTAPF's Weaknesses?
Dependence on local government contracts for revenue.
- Limited geographic diversification beyond Thailand.
- Potential regulatory risks affecting operations.
What Could Drive TTAPF Stock Higher?
Increased demand for treated water due to urbanization trends in Thailand.
- Expansion into renewable energy production enhancing revenue diversification.
- Strategic partnerships with local municipalities for infrastructure development.
What Are the Key Risks for TTAPF?
Regulatory changes impacting pricing structures and operational practices.
- Competition from other local water supply companies affecting market share.
- Economic downturns leading to reduced municipal budgets for water services.
What Are the Growth Opportunities for TTAPF?
- Growth opportunity 1: The increasing demand for treated water in Thailand is projected to grow at a rate of 5% annually, driven by urbanization and population growth. TTW's established relationships with local authorities position it to capture a significant share of this growing market, enhancing its revenue streams and market presence.
- Growth opportunity 2: The company's expansion into renewable energy production, including hydroelectric and solar power, aligns with global sustainability trends. The renewable energy market in Thailand is expected to grow substantially, providing TTW with opportunities to diversify its revenue and reduce operational costs associated with traditional energy sources.
- Growth opportunity 3: TTW's investment in wastewater treatment systems presents a significant growth avenue, as regulatory pressures increase for environmental compliance. With the wastewater treatment market expected to expand, TTW can leverage its expertise to capture new contracts and enhance its service offerings.
- Growth opportunity 4: The company's focus on operational efficiency and technology adoption, such as smart water management systems, can lead to cost savings and improved service delivery. This technological advancement is critical in maintaining competitive advantage and meeting the evolving needs of customers.
- Growth opportunity 5: Strategic partnerships with local governments and private entities can facilitate infrastructure development projects, enhancing TTW's service capabilities and market reach. These collaborations can lead to long-term contracts and stable revenue sources, further solidifying TTW's market position.
What Are TTAPF's Competitive Advantages?
- Strong relationships with local authorities ensure stable contracts.
- High barriers to entry in the regulated water industry limit competition.
- Operational efficiencies lead to superior profit margins.
What Does TTAPF Do?
TTW Public Company Limited, established in 2000 and headquartered in Nakhon Pathom, Thailand, specializes in the production and sale of treated water. Initially founded as Thai Tap Water Supply Public Company Limited, the company rebranded in April 2014 to reflect its broader operational scope. TTW supplies water to the Provincial Waterworks Authority, covering various districts including Amphur Nakorn Chaisri, Amphur Sam Pran, and Amphur Budha Monthon in Nakhon Pathom, as well as Amphur Muang and Amphur Kratumban in Samut Sakhon. Beyond water supply, TTW is involved in the management of water production and distribution systems, wastewater collection and treatment, and the operation and maintenance of water supply projects. Additionally, the company has diversified its operations to include electricity production from hydroelectric, cogeneration, and solar power plants, enhancing its revenue streams and sustainability profile. With a strong focus on operational excellence, TTW has achieved impressive financial metrics, including a profit margin of 62.2% and a gross margin of 68.5%, positioning itself favorably within the competitive landscape of Thailand's utilities sector.
What Products and Services Does TTAPF Offer?
- Produce and sell treated water to local authorities in Thailand.
- Manage water production and distribution systems.
- Provide wastewater collection and treatment services.
- Operate and maintain water supply projects.
- Generate electricity through hydroelectric, cogeneration, and solar power plants.
How Does TTAPF Make Money?
- Revenue generated primarily from the sale of treated water under long-term contracts.
- Additional income from wastewater management services.
- Electricity production from renewable sources contributes to diversified revenue streams.
What Industry Does TTAPF Operate In?
The regulated water industry in Thailand is characterized by steady demand driven by population growth and urbanization. The market is expected to grow as infrastructure investments increase, with an estimated annual growth rate of 5% over the next five years. TTW Public Company Limited is well-positioned within this landscape, benefiting from its established contracts with local authorities and its ability to manage water supply and treatment effectively. The competitive landscape includes several local players, but TTW's operational efficiencies and strong financial metrics give it a distinct edge.
Who Are TTAPF's Key Customers?
- Provincial Waterworks Authority as a primary customer.
- Local municipalities and government agencies.
- Residential and commercial customers in serviced areas.
Research confidence
Thin evidence — scoring coverage unknown. Treat this as a starting point, not a conclusion.
- ● Scoring coverage unknown
- ● Price 5 days old
- ● Latest filing 73 days ago
- ● No analyst coverage
- ● Reported in THB, converted to USD
MoonshotScore History
Recorded daily since 2026-08-23 · 4 snapshots
| 2026-08-23 | 49 |
| 2026-08-24 | 49 |
| 2026-08-25 | 49 |
| 2026-08-26 | 49 |
What changed?
The score has stayed at 49.
Over the same 3 days the stock moved +0.0%.
Earnings Track Record
TTW Public Company Limited has beaten Wall Street's EPS estimate in 4 of its last 8 reported quarters — more hits than misses. Reported results have landed about 1.7% below estimates on average.
Quarterly Financial Performance: TTW Public Company Limited
Revenue for TTW Public Company Limited came in at $40.2M during Q2 FY2026, a 2.2% improvement versus the preceding quarter. The company recorded net income of $19.9M, with diluted EPS of $0.01. Quarter-over-quarter revenue has been mixed, typical for a small-cap company operating in Utilities. Across the four most recent quarters, TTAPF averaged $0.01 in diluted EPS.
TTAPF Valuation & Market Position
With a $1.18B market cap, TTW Public Company Limited sits in the small-cap segment of the market.
Key Financial Metrics
Return on equity for TTW Public Company Limited stands at 18.8%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 13.5%, showing how much profit it generates from its asset base. TTAPF trades at a trailing price-to-earnings ratio of 13.08, below the Utilities sector average of ~16.60x. Its free cash flow yield is 8.4%, a gauge of the cash the business throws off relative to its market value. A current ratio of 1.52 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 7.8%, the inverse of the P/E and a quick read on earnings relative to price.
Financial Health
TTW Public Company Limited's Piotroski F-Score is 4/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 4.97 places it in the safe zone, indicating low near-term bankruptcy risk.
Company Profile
TTW Public Company Limited operates in the Regulated Water industry within the Utilities sector. It is headquartered in Nakhon Pathom, TH. The company is led by CEO Walainut Trivisvavet. TTAPF has traded publicly since 2010.
TTAPF Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- High profit margins indicating strong operational efficiency.
- Established market presence with long-term contracts.
- Diversified operations into renewable energy production.
- Upcoming: Increased demand for treated water due to urbanization trends in Thailand.
Bear Case
- Dependence on local government contracts for revenue.
- Limited geographic diversification beyond Thailand.
- Potential regulatory risks affecting operations.
- Potential: Regulatory changes impacting pricing structures and operational practices.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · June 2026
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q2 FY2026 | $40M | $20M | $0.01 |
| Q1 FY2026 | $39M | $20M | $0.01 |
| Q4 FY2025 | $40M | $25M | $0.01 |
| Q3 FY2025 | $40M | $30M | $0.01 |
Q2 FY2026 · filed 30 Jun 2026 · Financial Modeling Prep
Based on FMP financials and quantitative analysis · Converted to USD from THB at today's rate
TTAPF Latest News
No recent news available for TTAPF.
Leadership: Walainut Trivisvavet
CEO
Walainut Trivisvavet has a robust background in the utilities sector, having held various leadership roles since the inception of TTW. With a degree in Engineering and extensive experience in water management, he has been instrumental in driving the company's growth and operational efficiency.
Track Record: Under Walainut's leadership, TTW has achieved significant milestones, including the expansion of its treated water supply contracts and the diversification into renewable energy production, enhancing the company's sustainability profile.
TTAPF OTC Market Information
OTC Other tier stocks are typically less regulated than those listed on major exchanges like NYSE or NASDAQ. This can result in lower liquidity and less stringent reporting requirements, which may affect investor confidence.
- OTC Tier: OTC Other
- Limited regulatory oversight may lead to increased volatility.
- Lower liquidity can result in significant price swings.
- Potential lack of timely financial information may affect investment decisions.
- Review the latest financial statements and performance metrics.
- Assess the company's regulatory compliance and environmental practices.
- Evaluate the competitive landscape and market position.
- Investigate management's track record and strategic vision.
- Examine the company's dividend policy and payout history.
- Established history since 2000 with a recognized brand.
- Strong financial performance metrics indicating operational success.
- Active engagement with local government contracts and authorities.
What Investors Ask About TTW Public Company Limited (TTAPF) — Utilities
What happened to TTW Public Company Limited (TTAPF) stock?
TTW Public Company Limited (TTAPF) no longer trades on public markets. The figures below are historical and are not a current quote.
Can I still buy TTAPF shares?
No. TTAPF stopped trading on public markets, so the shares are not available through a broker. Anything you see quoted for TTAPF elsewhere is historical data, not a live market.
Are the figures on this page current?
No. Every number here is the last value recorded before TTAPF stopped trading. Nothing on this page updates, and none of it is a current quote.
Why does this page still exist?
Because people still search for what happened to TTW Public Company Limited. An archived profile that states the delisting plainly is more useful than a dead link — provided it is labelled as history, which is what this page does.
What does TTW Public Company Limited do?
TTW Public Company Limited specializes in the production and sale of treated water in Thailand, supplying various local authorities and municipalities.
What are the key financial metrics investors watch for TTAPF?
Key financial metrics for TTW Public Company Limited include its profit margin of 62.2%, which indicates strong operational efficiency, and a gross margin of 68.5%, reflecting effective cost management.
What are the main risks for TTAPF?
Main risks for TTW Public Company Limited include potential regulatory changes that could affect pricing and operational practices. Additionally, ongoing competition from local water supply companies may impact market share and profitability.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Data is based on the latest available information and may be subject to change.