Fact based stock research
True Corporation (SET:TRUE)

TH0375010Z06

How to read the free ranks

For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

True Corporation stock research in summary

investor.truecorp.co.th

ANALYSIS: With an Obermatt Combined Rank of 13 (worse than 87% compared with investment alternatives), True Corporation (Integrated Telecommunication, Thailand) shares have lower financial characteristics compared with similar stocks. Shares of True Corporation are low in value (priced high) with a consolidated Value Rank of 45 (worse than 55% of alternatives), show below-average growth (Growth Rank of 37), and are riskily financed (Safety Rank of 11), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 13, is a sell recommendation based on True Corporation's financial characteristics. As the company True Corporation's key financial metrics all exhibit below-average performance, such as low value (Obermatt Value Rank of 45), low growth (Obermatt Growth Rank of 37), and risky financing practices (Obermatt Safety Rank of 11), it is a somewhat questionable stock investment, where the risk of paying too much for the shares is significant, unless the company has an exceptionally bright future. Such poor financial performance sometimes indicates that the company's business is all concentrated in some distant future. This is sometimes the case for high-tech or biotechnology companies. If they own properties that only provide cash flows in the future, the stock may look excessively expensive and risky today. In such cases, the Obermatt Method has limited value as it is based on facts we can observe today. If the facts are all in the future, stock investing becomes guesswork, and this should only be a driver in a limited number of investments that should only amount to a small fraction of a safe portfolio. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	45
Growth Rank	37
Safety Rank	11
Combined Rank	13

Country	Thailand
Industry	Integrated Telecommunication
Index	SET, Low Emissions, Good Governace Growth Markets, Telecommunications
Size class	Large

This stock has achievements: Top 10 Stock.

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

Why popular stocks have low ratings

It’s easier said than done. When your stock drops, it’s easy to want to sell it and find a better performer. Think twice, or even three times, before trading. Those fees (especially the hidden ones) can eat up your gains.

Review the performance ranks of the individual metrics that form each investment strategy.

Research History: True Corporation

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	65	54	11	45
GROWTH
GROWTH	9	1	93	37
SAFETY
SAFETY	4	8	6	11
SENTIMENT
SENTIMENT	36	12	61	^new
360° VIEW
360° VIEW	7	4	33	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better True Corporation is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	65	54	11	45
GROWTH
GROWTH	9	1	93	37
SAFETY
SAFETY	4	8	6	11
COMBINED
COMBINED	12	6	29	13

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of True Corporation the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 45 (worse than 55% compared with alternatives), True Corporation shares are more expensive than the average comparable stock. The Value Rank is based on consolidating four value indicators, with three out of four indicators below average for True Corporation. Only the metric dividend yield has an above-average rank, reflecting that dividend practices are expected to be higher than 50% of comparable companies, making the stock an attractive buy for dividend investors. However, dividend investors may get disappointed because all other critical financial indicators are below the market median: Price-to-Sales is 39 which means that the stock price compared with what market professionals expect for future profits is higher than 61% of comparable companies, indicating a low value concerning True Corporation's sales levels. The same is valid for Price-to-Profit (also referred to as price-earnings, P/E) with a rank of 42 which means that the stock price compared with what market professionals expect for future profit levels is higher than 58% of comparable companies. In addition, Price-to-Book (also referred to as market-to-book ratio) with a Price-to-Book Rank of 21 is also low. Compared with invested capital, the stock price is higher than for 79% of comparable investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 45, is a hold recommendation based on True Corporation's stock price compared with the company's operational size and dividend yields. Should dividend investors pick True Corporation? The company-reported financials speak against it. The company is expensive compared with revenue and invested capital levels, two reliable company size indicators. In addition, it currently has a low level of profits. How can future dividends be paid in the case that profits remain low? Dividend investors should choose True Corporation only if they reasonably expect the low current profit levels to be transitory. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	78	75	34	39
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	4	63	11	42
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	63	53	9	21
DIVIDEND YIELD
DIVIDEND YIELD	25	23	26	50
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	65	54	11	45

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of True Corporation; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 37 (better than 37% compared with alternatives), True Corporation shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for True Corporation. Profit Growth has a rank of 94, which means that currently professionals expect the company to grow its profits more than 94% of its competitors. This is a good sign for shareholders, which is confirmed by an above-average Stock Returns rank of 73 (above 73% of alternative investments). But Sales Growth has a below the median rank of 10, which means that, currently, professionals expect the company to grow less than 90% of its competitors, and Capital Growth also has a lower rank of 13. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 37, is a hold recommendation for growth and momentum investors. Because revenues and invested capital are the more solid growth indicators, the positive development on the profit side is less relevant. It may have been caused by cost-cutting, which may be a negative growth indicator. Finally, the above-average stock returns recently are a thing of the past and not a good indicator of future returns. Investors should be confident that the cost-cutting initiative leading to higher profits is to benefit the company's future. If not, there is little growth momentum, and investment is only advisable if the Value Ranks suggest a good investment timing for True Corporation. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	31	19	4	10
PROFIT GROWTH
PROFIT GROWTH	1	11	89	94
CAPITAL GROWTH
CAPITAL GROWTH	30	32	92	13
STOCK RETURNS
STOCK RETURNS	75	13	100	73
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	9	1	93	37

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of True Corporation.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 11 (better than 11% compared with alternatives), the company True Corporation has much riskier financing practices than comparable other companies, which means that their overall debt burden is significantly above the industry average. This doesn't mean that the business of True Corporation is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with all three metrics below average for True Corporation. Liquidity is at 17, meaning that the company generates less profit to service its debt than 83% of its competitors. This indicates that the company is on the riskier side when it comes to debt service. Even worse, Leverage is at a rank of 5, meaning the company has an above-average debt-to-equity ratio. It has more debt than 95% of its competitors. Finally, Refinancing is at a rank of 15 which means that the portion of the debt about to be refinanced is above average. It has more debt in the refinancing stage than 85% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 11 (worse than 89% compared with alternatives), True Corporation has a financing structure that is significantly riskier than that of its competitors. This combination is rather dangerous in most situations. Only very promising companies with bright future outlooks and stellar reputations can operate with such risky financing. Investors should look at Obermatt’s Value, Growth, and Sentiment Ranks to confirm a very positive outlook or be careful with investing in stocks of True Corporation because it may suffer significantly in case of future difficulties. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	14	8	10	5
REFINANCING
REFINANCING	5	11	16	15
LIQUIDITY
LIQUIDITY	18	20	6	17
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	4	8	6	11

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of True Corporation and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	51	78	^new
OPINIONS CHANGE
OPINIONS CHANGE	50	63	47	^new
PRO HOLDINGS
PRO HOLDINGS	30	4	20	^new
MARKET PULSE
MARKET PULSE	79	11	73	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	36	12	61	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for True Corporation.
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