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Page: Company Financials

nForce Secure Public Company Limited

Ticker: SECURE.BK | Industry: Software - Infrastructure | Sector: Technology
$13.40 +0.20 (1.52%)
As of: 2026-01-23

Master Data Export

Enterprise Value

Metric 2025 2024 2023 2022 2021 2020
Stock Price 11.50 13.73 14.25 20.13 22.19 16.00
Market Capitalization 1,181.52M 1,410.12M 1,464.06M 2,067.66M 2,279.57M 1,105.87M
(-) Cash & Equivalents 512.06M 446.08M 440.53M 381.47M 354.35M -0.43M
(+) Total Debt 21.94M 18.82M 20.57M 24.26M 35.06M 9.25M
Enterprise Value 691.40M 982.85M 1,044.10M 1,710.45M 1,960.27M 1,115.54M

Income Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31
Revenue 1,261M 1,151M 1,238M 1,066M 894M 823M 634M 643M 570M 464M 505M
Cost of Revenue 986M 925M 992M 857M 749M 668M 508M 493M 424M 364M 412M
Gross Profit 275M 226M 246M 209M 145M 156M 125M 150M 146M 100M 93M
Gross Profit Margin 21.8% 19.6% 19.9% 19.6% 16.2% 18.9% 19.8% 23.4% 25.6% 21.6% 18.4%
R&D Expenses 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
SG&A Expenses 122M 105M 112M 99M 88M 82M 90M 81M 62M 46M 52M
Operating Expenses 122M 131M 112M 99M 88M 82M 90M 81M 62M 46M 52M
Operating Income (EBIT) 153M 94M 134M 111M 57M 74M 36M 69M 84M 54M 41M
Operating Income Margin 12.1% 8.2% 10.8% 10.4% 6.4% 9.0% 5.6% 10.7% 14.7% 11.6% 8.1%
Interest Income 12M 4M 12M 4M 2M 2M 0M 0M 2M 2M 2M
Interest Expense 1M 1M 1M 1M 1M 1M 3M 2M 0M 0M 0M
Net Interest Income 11M 3M 11M 3M 1M 0M -3M -2M 2M 2M 2M
Unusual Items 6M 26M 0M 2M 9M -1M -2M 7M 2M 1M -3M
EBT Excluding Unusual Items 164M 98M 145M 114M 59M 74M 33M 67M 85M 56M 43M
Pre-Tax Income 170M 124M 145M 116M 68M 73M 31M 75M 87M 57M 40M
Pre-Tax Margin 13.5% 10.8% 11.7% 10.9% 7.6% 8.9% 4.8% 11.6% 15.3% 12.3% 8.0%
Income Tax Expense 35M 25M 29M 24M 13M 12M 7M 15M 18M 12M 8M
Net Income 135M 98M 116M 92M 55M 61M 24M 59M 70M 45M 32M
Net Income Margin 10.7% 8.5% 9.3% 8.6% 6.2% 7.4% 3.7% 9.2% 12.2% 9.7% 6.4%
Depreciation & Amortization 13M 15M 15M 14M 12M 11M 12M 8M 7M 12M -42M
EBITDA 166M 109M 149M 125M 69M 85M 48M 77M 91M 66M -1M
EBITDA Margin 13.2% 9.5% 12.0% 11.7% 7.8% 10.3% 7.5% 12.0% 16.0% 14.2% -0.3%
NOPAT 122M 75M 107M 87M 47M 62M 28M 55M 67M 42M 33M
NOPAT Margin 9.7% 6.5% 8.6% 8.2% 5.2% 7.5% 4.3% 8.5% 11.7% 9.1% 6.5%
Owner's Earnings 143M 106M 129M 98M 52M 69M 27M 54M 72M 56M -10M
Owner's Earnings Margin 11.4% 9.2% 10.4% 9.2% 5.8% 8.3% 4.2% 8.4% 12.5% 12.2% -2.0%
EPS (Basic) 1.31 0.96 1.13 0.89 0.54 0.69 0.23 0.58 0.68 0.44 0.31
EPS (Diluted) 1.31 0.96 1.13 0.89 0.53 0.68 0.33 0.58 0.68 0.44 0.31
Shares (Basic) 103M 103M 103M 103M 103M 89M 71M 103M 103M 103M 103M
Shares (Diluted) 103M 103M 103M 103M 103M 89M 71M 103M 103M 103M 103M

Balance Sheet

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31
Cash & Cash Equivalents 525.08M 533.92M 447.53M 450.12M 398.24M 402.98M 40.50M 42.22M 68.73M 31.26M 52.04M
Short-Term Investments 31.05M 15.97M 15.79M 20.45M 25.15M 34.96M 0.00M 0.00M 0.00M 0.00M 0.00M
Cash & Short-Term Investments 556.13M 549.89M 463.32M 470.57M 423.39M 437.94M 40.50M 42.22M 68.73M 31.26M 52.04M
Net Receivables 271.93M 200.42M 382.29M 277.59M 262.11M 181.05M 130.25M 148.74M 91.57M 108.44M 109.77M
Inventory 71.44M 51.80M 37.82M 41.05M 13.88M 35.14M 59.74M 52.11M 16.16M 19.14M 20.62M
Other Current Assets 4.81M 1.80M 1.88M 1.82M 3.11M 0.52M 0.62M 22.06M 23.34M 0.96M 1.88M
Total Current Assets 904.30M 803.91M 885.30M 791.03M 702.49M 654.65M 231.11M 265.13M 199.80M 159.80M 184.30M
Property, Plant & Equipment 32.00M 35.34M 29.38M 42.07M 42.08M 23.22M 30.84M 35.13M 31.34M 31.76M 38.10M
Goodwill 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 4.00M 4.26M 4.78M 1.81M 0.79M 0.91M 1.04M 1.14M 0.37M 0.00M 0.00M
Long-Term Investments 4.26M 4.40M 4.76M 68.44M 7.80M 6.90M 31.70M 36.27M -1.44M 0.00M 1.30M
Tax Assets 0.00M 5.35M 5.29M 4.84M 3.93M 2.11M 2.88M 2.25M 1.44M 0.00M 0.00M
Other Non-Current Assets 56.10M 69.98M 83.83M 0.33M 50.79M 46.62M 4.22M -36.27M 1.44M 0.00M 0.00M
Other Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Non-Current Assets 96.36M 119.33M 128.05M 117.49M 105.40M 79.76M 70.68M 38.52M 33.16M 31.76M 39.40M
Total Assets 1,000.66M 923.24M 1,013.35M 908.52M 807.89M 734.41M 301.79M 303.64M 232.96M 191.56M 223.71M
Accounts Payable 152.87M 105.66M 173.30M 129.28M 117.85M 107.04M 113.39M 85.67M 35.28M 53.51M 53.71M
Short-Term Debt 5.03M 5.74M 0.00M 0.00M 0.00M 0.00M 23.67M 82.10M 38.60M 13.17M 78.44M
Tax Payables 0.00M 3.18M 24.46M 5.29M 13.72M 5.93M 4.63M 4.79M 7.02M 4.75M 0.00M
Deferred Revenue 0.00M 16.64M 15.01M 12.88M 10.96M 8.98M 6.63M 8.79M 4.65M 5.59M 0.00M
Other Current Liabilities 41.79M 2.29M 2.48M 2.43M 3.75M 2.27M 2.93M 24.01M 19.64M 6.17M 3.36M
Total Current Liabilities 199.69M 133.51M 215.24M 149.88M 146.28M 124.21M 151.26M 205.37M 105.19M 83.19M 135.51M
Long-Term Debt 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Capital Lease Obligations 20.40M 21.95M 16.47M 22.68M 22.44M 10.63M 13.31M 0.28M 1.64M 3.06M 4.07M
Deferred Tax Liabilities 0.00M 0.00M 0.00M 0.00M 0.00M 9.83M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Non-Current Liabilities 14.44M 13.96M 13.01M 12.30M 9.76M 0.57M 10.89M 9.25M 5.80M 0.00M 0.00M
Total Non-Current Liabilities 34.83M 35.91M 29.48M 34.98M 32.20M 21.03M 24.19M 9.53M 7.44M 3.06M 4.07M
Total Liabilities 234.52M 169.42M 244.73M 184.86M 178.49M 145.24M 175.45M 214.90M 112.63M 86.25M 139.58M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock 51.37M 51.37M 51.37M 51.37M 51.37M 51.37M 37.50M 30.00M 30.00M 30.00M 30.00M
Retained Earnings 205.16M 172.68M 183.77M 134.06M 73.83M 35.94M 10.46M 59.21M 67.46M 67.89M 42.36M
Accumulated OCI 15.80M 5.30M 5.30M 20.37M 5.30M 5.30M 3.75M 3.00M 3.00M 3.00M 3.00M
Minority Interest 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Shareholders’ Equity 272.33M 229.35M 240.44M 205.81M 130.50M 92.60M 51.71M 92.21M 100.46M 100.89M 75.36M
Total Equity 272.33M 229.35M 240.44M 205.81M 130.50M 92.60M 51.71M 92.21M 100.46M 100.89M 75.36M
Total Liabilities & Equity 506.85M 398.77M 485.17M 390.67M 308.99M 237.85M 227.16M 307.11M 213.10M 187.14M 214.94M
Tangible Assets 996.66M 918.98M 1,008.57M 906.71M 807.10M 733.49M 300.75M 302.51M 232.59M 191.56M 223.71M
Tangible Equity 268.33M 225.09M 235.66M 204.00M 129.71M 91.69M 50.67M 91.07M 100.09M 100.89M 75.36M
Tangible Book Value 268.33M 225.09M 235.66M 204.00M 129.71M 91.69M 50.67M 91.07M 100.09M 100.89M 75.36M
Total Investments 19.26M 20.37M 20.55M 88.90M 32.95M 41.86M 31.70M 36.27M -1.44M 0.00M 1.30M
Net Debt -520.05M -528.18M -447.53M -450.12M -398.24M -402.98M -16.83M 39.88M -30.13M -18.09M 26.40M

Capital Metrics

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31
Working Capital 691.0M 640.7M 636.0M 596.8M 540.7M 517.6M 68.9M 65.4M 76.9M 72.2M 40.0M
Total Capital 759.6M 733.9M 739.4M 695.4M 634.5M 584.1M 150.6M 176.0M 142.1M 118.4M 159.2M
Capital Employed 787.4M 760.0M 764.0M 714.3M 646.1M 597.3M 139.6M 104.0M 110.0M 104.0M 79.4M
Invested Capital 234.5M 200.0M 291.9M 245.3M 236.2M 181.1M 110.1M 133.7M 73.4M 87.2M 107.1M

Cash Flow Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31
Net Income 162.48M 100.66M 144.69M 91.77M 67.71M 73.46M 30.54M 59.44M 69.65M 44.81M 32.14M
Depreciation & Amortization 14.69M 15.06M 15.06M 14.02M 12.28M 11.17M 11.95M 8.16M 7.26M 0.00M 0.00M
Deferred Income Tax 0.00M -71.96M 0.00M 0.00M 0.00M -12.75M -23.24M 0.00M 0.00M 0.00M 0.00M
Stock-Based Compensation 0.34M 0.47M 0.54M 0.42M 0.67M 0.56M 0.06M 0.00M 0.00M 0.00M 0.00M
Change in Working Capital -73.34M -44.71M -69.09M -31.20M -38.75M -34.21M 59.36M -75.40M -3.00M 0.00M 0.00M
Accounts Receivable -63.74M -45.86M -125.92M -29.80M -74.49M -41.79M 36.65M -99.31M 9.21M 0.00M 0.00M
Inventory -18.88M -3.00M -0.68M -28.48M 21.26M 24.60M -4.74M -36.02M 2.15M 0.00M 0.00M
Accounts Payable -69.45M -56.17M 46.68M 20.49M 17.34M -20.32M 27.43M 54.65M -18.35M 0.00M 0.00M
Other Working Capital 78.72M 60.31M 10.82M 6.59M -2.85M 3.30M 0.02M 5.28M 3.98M 0.00M 0.00M
Other Non-Cash Items 18.91M 169.94M -29.11M 15.30M -16.31M -0.35M 3.11M 94.94M 26.79M -44.81M -32.14M
Net Cash from Operating Activities 123.07M 78.81M 62.09M 90.31M 25.61M 37.88M 81.78M -9.85M 79.20M 0.00M 0.00M
Capital Expenditures (PPE) -4.52M -6.91M -1.34M -8.13M -15.13M -3.63M -8.57M -13.58M -5.36M 0.00M 0.00M
Acquisitions (Net) 0.00M 0.00M 0.00M 0.00M -2.75M -8.25M 19.79M 0.00M 0.00M 0.00M 0.00M
Purchases of Investments 0.00M -0.05M -0.05M -40.36M -5.09M -35.00M -31.70M 0.00M 0.00M 0.00M 0.00M
Sales / Maturities of Investments 0.00M 10.17M 5.17M 45.25M 12.93M 0.00M 11.91M 0.00M 0.00M 0.00M 0.00M
Other Investing Activities 26.89M 13.95M 11.25M 3.92M 2.26M 2.02M -11.71M 21.47M 3.50M 0.00M 0.00M
Net Cash from Investing Activities 22.37M 9.86M 15.04M 0.67M -7.78M -44.86M -20.28M 7.89M -1.86M 0.00M 0.00M
Net Debt Issuance -6.23M -6.15M -6.21M 0.00M 0.00M -26.35M -61.85M -1.42M -1.60M 0.00M 0.00M
Long-Term Debt Issuance -6.23M -6.15M -6.21M -5.38M -4.07M -2.68M -3.68M -1.42M -1.60M 0.00M 0.00M
Short-Term Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M -23.67M -58.17M 0.00M 0.00M 0.00M 0.00M
Net Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 432.23M 56.03M 0.00M 0.00M 0.00M 0.00M
Common Stock Repurchased 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Preferred Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Dividends Paid -71.92M -66.78M -66.78M -30.82M -18.49M -36.42M -57.40M -66.67M -64.14M 0.00M 0.00M
Common Dividends Paid -71.92M -66.78M -66.78M -30.82M -18.49M -36.42M -57.40M -66.67M -64.14M 0.00M 0.00M
Preferred Dividends Paid 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Financing Activities 0.00M 0.00M 0.00M -5.38M -4.07M 432.23M 56.03M 43.55M 25.87M 0.00M 0.00M
Net Cash from Financing Activities -78.14M -72.93M -72.99M -36.20M -22.57M 369.46M -63.21M -24.55M -39.87M 0.00M 0.00M
Effect of FX on Cash -5.59M -17.34M -6.73M -2.91M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Change in Cash 61.71M -1.60M -2.59M 51.88M -4.74M 362.47M -1.71M -26.52M 37.47M 0.00M 0.00M
Cash at Beginning of Period 1,922.01M 1,788.53M 450.12M 398.24M 402.98M 40.50M 42.22M 68.73M 31.26M 0.00M 0.00M
Cash at End of Period 1,983.72M 1,786.93M 447.53M 450.12M 398.24M 402.98M 40.50M 42.22M 68.73M 0.00M 0.00M
Operating Cash Flow 123.07M 82.54M 62.09M 90.31M 25.61M 37.88M 81.78M -9.85M 79.20M 0.00M 0.00M
Capital Expenditure -4.52M -6.91M -1.45M -8.13M -15.13M -3.63M -8.57M -13.58M -5.36M 0.00M 0.00M
Free Cash Flow 118.55M 75.63M 60.64M 82.18M 10.48M 34.25M 73.21M -23.43M 73.84M 0.00M 0.00M

Free Cash Flow

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31
EBITDA 165.99M 135.68M 148.83M 124.59M 69.49M 85.16M 47.66M 77.05M 91.04M 65.68M -1.29M
(-) Tax Adjustment 33.99M 27.56M 29.92M 26.05M 12.98M 14.31M 10.92M 15.66M 18.49M 14.13M -0.26M
(-) Change In Working Capital -73.34M -44.71M -69.09M -31.20M -38.75M -34.21M 59.36M -75.40M -3.00M 0.00M 0.00M
(-) Capital Expenditure -4.52M -6.91M -1.45M -8.13M -15.13M -3.63M -8.57M -13.58M -5.36M 0.00M 0.00M
Unlevered Free Cash Flow 200.83M 145.91M 186.54M 121.60M 80.13M 101.43M -31.19M 123.20M 70.19M 51.55M -1.03M
(-) Net Interest Income After Taxes 8.63M 2.70M 8.86M 2.71M 1.15M 0.20M -2.40M -1.34M 1.22M 1.45M 1.56M
Net Debt Issuance -6.23M -6.15M -6.21M 0.00M 0.00M -26.35M -61.85M -1.42M -1.60M 0.00M 0.00M
Levered Free Cash Flow 185.98M 137.07M 171.47M 118.89M 78.98M 74.89M -90.63M 123.12M 67.37M 50.10M -2.59M