BTS reports warrant result: BTS Group Holdings stock sits below THB 2.66 target

Published on 10/05/2026 at 16:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue hit THB 7.49 billion in the first quarter of 2026/27, with a THB 388.00 million net loss. Six analysts rate BTS Group Holdings stock Hold.

BTS, TH0221B10Z05, Illustration mit AI erstellt.

BTS Group Holdings stock sits below a THB 2.66 target as the company reports its latest warrant result. On October 1, 2026, TFEX reported that zero BTS-W8 warrants were exercised and 2,632,313,258 remained unexercised. The company is BTS Group Holdings Public Company Limited, with ISIN TH0221B10Z05.

Warrant result keeps capital structure in view

The October 1 report listed an exercise price of THB 14.39 per share and an exercise date of September 30, 2026. With zero warrants exercised, the filing describes an unchanged allocation from this exercise event rather than an immediate increase in ordinary shares.

The warrant figures matter because BTS operates a capital-intensive transportation business alongside media, marketing, property and investment activities. Its Move segment includes the Bangkok mass-transit system and related rail services, while Mix and Match cover advertising, payment services and strategic investments.

Revenue reached THB 7.49 billion

BTS Group Holdings reported revenue of THB 7.49 billion in the first quarter of fiscal 2026/27. EBITDA was THB 2.82 billion, while net loss attributable to the company's shareholders was THB 388.00 million in the same period.

The combination of positive EBITDA and a reported net loss points to the importance of financing, depreciation and investment-related items in interpreting the quarter. Operating cash flow was THB 1.35 billion for the first quarter of fiscal 2026/27, giving investors a separate measure of cash generation from the net result.

Target stands above the latest SET quote

Stock Analysis listed a Hold consensus from six analysts and an average target of THB 2.66 on October 3, 2026. The target was 37.11 percent above the latest quoted SET price of THB 1.94 on October 2, 2026 at 4:37 p.m. ICT, making the valuation gap the clearest market comparison in the current data.

The same quotation page listed a 52-week range of THB 1.93 to THB 3.12 and an earnings date of November 13, 2026. The lower end of that range sits only THB 0.01 below the latest quote, while the upper end remains THB 1.18 higher.

Market value and next reporting date

BTS Group Holdings had a market capitalization of THB 31.2 billion as of October 5, 2026. The next scheduled earnings date is November 13, 2026, giving the first-quarter figures and the warrant outcome a defined upcoming reporting checkpoint.