Reported Earnings • May 19
First quarter 2026 earnings released: EPS: ฿0.58 (vs ฿0.58 in 1Q 2025) First quarter 2026 results: EPS: ฿0.58. Revenue: ฿895.0m (down 4.4% from 1Q 2025). Net income: ฿209.8m (flat on 1Q 2025). Profit margin: 23% (up from 22% in 1Q 2025). The increase in margin was driven by lower expenses. Upcoming Dividend • Apr 23
Upcoming dividend of ฿1.81 per share Eligible shareholders must have bought the stock before 30 April 2026. Payment date: 19 May 2026. Payout ratio and cash payout ratio are on the higher end at 84% and 99% respectively. Trailing yield: 4.3%. Lower than top quartile of Thai dividend payers (7.5%). Lower than average of industry peers (5.7%). Declared Dividend • Mar 16
Dividend increased to ฿1.81 Dividend of ฿1.81 is 1.1% higher than last year. Ex-date: 30th April 2026 Payment date: 19th May 2026 Dividend yield will be 4.4%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is covered by earnings (84% earnings payout ratio) but not adequately covered by cash flows (99% cash payout ratio). The dividend has increased by an average of 5.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 7.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 14
Thaitheparos Public Company Limited Proposes Cash Dividend Payment for the Operating Period from 01 January 2025 to 31 December 2025, Payment Date of 19 May 2026 Thaitheparos Public Company Limited at the AGM to be held on 23 April 2026, proposed cash dividend payment for the Operating period from 01 January 2025 to 31 December 2025 of THB 1.81 per share on Par value of THB 1.00. The dividend Payment date of 19 May 2026 with record date for the right to receive dividends of 05 May 2026 and ex-dividend date was 30 April 2026. Announcement • Mar 13
Thaitheparos Public Company Limited, Annual General Meeting, Apr 23, 2026 Thaitheparos Public Company Limited, Annual General Meeting, Apr 23, 2026, at 14:00 SE Asia Standard Time. Location: v&b meeting room, club building, head office of thaitheparos public company limited, no.208 moo 6 taiban road tambol taiban, amphur muang, samutprakarn, Thailand Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: ฿2.19 (vs ฿2.07 in FY 2024) Full year 2025 results: EPS: ฿2.19 (up from ฿2.07 in FY 2024). Revenue: ฿3.56b (flat on FY 2024). Net income: ฿788.8m (up 6.0% from FY 2024). Profit margin: 22% (up from 21% in FY 2024). Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 10% per year. Buy Or Sell Opportunity • Jan 20
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 5.3% to ฿40.00. The fair value is estimated to be ฿33.24, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 6.0%. Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ฿0.53 (vs ฿0.47 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.53 (up from ฿0.47 in 3Q 2024). Revenue: ฿853.1m (down 2.1% from 3Q 2024). Net income: ฿189.7m (up 12% from 3Q 2024). Profit margin: 22% (up from 20% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 10% per year. Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: ฿0.47 (vs ฿0.50 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.47 (down from ฿0.50 in 2Q 2024). Revenue: ฿815.2m (down 6.1% from 2Q 2024). Net income: ฿169.4m (down 5.8% from 2Q 2024). Profit margin: 21% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 10% per year. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: ฿0.58 (vs ฿0.55 in 1Q 2024) First quarter 2025 results: EPS: ฿0.58 (up from ฿0.55 in 1Q 2024). Revenue: ฿936.3m (up 2.9% from 1Q 2024). Net income: ฿209.7m (up 6.0% from 1Q 2024). Profit margin: 22% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 10% per year. Upcoming Dividend • Apr 23
Upcoming dividend of ฿1.79 per share Eligible shareholders must have bought the stock before 30 April 2025. Payment date: 19 May 2025. Payout ratio and cash payout ratio are on the higher end at 83% and 85% respectively. Trailing yield: 4.4%. Lower than top quartile of Thai dividend payers (8.1%). Lower than average of industry peers (5.3%). Declared Dividend • Mar 15
Dividend increased to ฿1.79 Dividend of ฿1.79 is 4.1% higher than last year. Ex-date: 30th April 2025 Payment date: 19th May 2025 Dividend yield will be 4.8%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is covered by both earnings (83% earnings payout ratio) and cash flows (85% cash payout ratio). The dividend has increased by an average of 2.5% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 13
Thaitheparos Public Company Limited Proposes Annual Dividend Payment for the Operation from January 1 to December 31, 2024, Payable on 19 May 2025 Thaitheparos Public Company Limited at the Annual General Meeting to be held on 23 April 2025 proposed the annual dividend payment for the operation from January 1 to December 31, 2024 will be THB 1.79 per share from income tax rate 20%. Record date for the right to receive dividends: 02 May 2025; Ex-dividend date: 30 April 2025; Payment date: 19 May 2025. Reported Earnings • Feb 27
Full year 2024 earnings released: EPS: ฿2.07 (vs ฿2.05 in FY 2023) Full year 2024 results: EPS: ฿2.07 (up from ฿2.05 in FY 2023). Revenue: ฿3.56b (flat on FY 2023). Net income: ฿743.8m (flat on FY 2023). Profit margin: 21% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 5% per year. Announcement • Feb 21
Thaitheparos Public Company Limited Announces Retirement of Jirawit Masrangsan from Audit Committee Thaitheparos Public Company Limited announced the retirement of Mr. JIRAWIT MASRANGSAN from Audit Committee. Terminate Reason:Retire from office at the end of the term. Effective date: May 9,2017. Expire Date: 20 February 2025. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: ฿0.50 (vs ฿0.53 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.50 (down from ฿0.53 in 2Q 2023). Revenue: ฿868.6m (down 5.5% from 2Q 2023). Net income: ฿179.8m (down 5.8% from 2Q 2023). Profit margin: 21% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 11% per year. Announcement • Apr 26
Thaitheparos Public Company Limited Approves Dividend Payment for the Operation from January 1 to December 31, 2023, Payable on May 17, 2024 Thaitheparos Public Company Limited at its AGM held on April 24, 2024, approved to pay dividends for the operation result from January 1 to December 31, 2023 will be THB 1.72 per share from income tax rate 20%). To pay dividends for the operation result from January 1 to December 31, 2023 as the following: Which will be paid to shareholders on May 17, 2024. The record date for the right to receive dividend shall be recorded on May 3, 024. Upcoming Dividend • Apr 25
Upcoming dividend of ฿1.72 per share Eligible shareholders must have bought the stock before 02 May 2024. Payment date: 17 May 2024. Payout ratio is on the higher end at 84%, however this is supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of Thai dividend payers (6.0%). Higher than average of industry peers (3.4%). Announcement • Mar 16
Thaitheparos Public Company Limited, Annual General Meeting, Apr 24, 2024 Thaitheparos Public Company Limited, Annual General Meeting, Apr 24, 2024, at 14:00 SE Asia Standard Time. Location: Head Office of Thaitheparos Public Company Limited No. 208 Moo 6 Taiban Road Samutprakarn Thailand Agenda: To consider and certify the minutes of the Annual general meeting of shareholders; to acknowledge the company's annual report and the board of directors' report for the year 2023; to consider and approve the company's statements of change in financial position, statements of comprehensive income and cash flow statements as at December 31,2023; to consider the remuneration for the Board of Directors for the year 2024; and to consider other matters. Declared Dividend • Mar 16
Dividend increased to ฿1.72 Dividend of ฿1.72 is 4.2% higher than last year. Ex-date: 2nd May 2024 Payment date: 17th May 2024 Dividend yield will be 4.0%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is covered by both earnings (82% earnings payout ratio) and cash flows (68% cash payout ratio). The dividend has increased by an average of 2.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 15
Thaitheparos Public Company Limited to Propose Annual Dividend Payment for the Operation from January 1 to December 31, 2023, Payable on May 17, 2024 The board of directors of Thaitheparos Public Company Limited at a meeting held on March 14, 2024 approved that the annual dividend payment for the operation from January 1 to December 31, 2023 will be THB 1.72 per share. The dividend payment, to be proposed to the 2024 AGM for approval, is scheduled to be paid on May 17, 2024. The record date for the right to receive dividend shall be recorded on May 3, 2024. Reported Earnings • Feb 24
Full year 2023 earnings released: EPS: ฿2.05 (vs ฿1.76 in FY 2022) Full year 2023 results: EPS: ฿2.05 (up from ฿1.76 in FY 2022). Revenue: ฿3.56b (up 7.8% from FY 2022). Net income: ฿739.6m (up 17% from FY 2022). Profit margin: 21% (up from 19% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: ฿0.50 (vs ฿0.49 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.50 (up from ฿0.49 in 3Q 2022). Revenue: ฿861.1m (up 1.4% from 3Q 2022). Net income: ฿181.4m (up 2.8% from 3Q 2022). Profit margin: 21% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 15% per year. Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: ฿0.53 (vs ฿0.38 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.53 (up from ฿0.38 in 2Q 2022). Revenue: ฿919.6m (up 20% from 2Q 2022). Net income: ฿190.9m (up 39% from 2Q 2022). Profit margin: 21% (up from 18% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ฿39.75, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 20x in the Food industry in Thailand. Total returns to shareholders of 85% over the past three years. Reported Earnings • May 18
First quarter 2023 earnings released: EPS: ฿0.47 (vs ฿0.37 in 1Q 2022) First quarter 2023 results: EPS: ฿0.47 (up from ฿0.37 in 1Q 2022). Revenue: ฿864.6m (up 9.7% from 1Q 2022). Net income: ฿169.9m (up 27% from 1Q 2022). Profit margin: 20% (up from 17% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 11% per year. Upcoming Dividend • Apr 26
Upcoming dividend of ฿1.65 per share at 5.2% yield Eligible shareholders must have bought the stock before 03 May 2023. Payment date: 19 May 2023. Payout ratio is on the higher end at 94%, and the cash payout ratio is above 100%. Trailing yield: 5.2%. Lower than top quartile of Thai dividend payers (6.2%). Higher than average of industry peers (3.9%). Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: ฿0.49 (vs ฿0.42 in 3Q 2021) Third quarter 2022 results: EPS: ฿0.49 (up from ฿0.42 in 3Q 2021). Revenue: ฿849.6m (up 11% from 3Q 2021). Net income: ฿176.4m (up 16% from 3Q 2021). Profit margin: 21% (in line with 3Q 2021). Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 9% per year. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 7 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Jirawit Masrangsan was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 16
Second quarter 2022 earnings released: EPS: ฿0.38 (vs ฿0.38 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.38 (vs ฿0.38 in 2Q 2021). Revenue: ฿777.9m (up 11% from 2Q 2021). Net income: ฿137.4m (flat on 2Q 2021). Profit margin: 18% (down from 20% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 8% per year. Reported Earnings • May 17
First quarter 2022 earnings released: EPS: ฿0.37 (vs ฿0.47 in 1Q 2021) First quarter 2022 results: EPS: ฿0.37 (down from ฿0.47 in 1Q 2021). Revenue: ฿788.1m (down 2.8% from 1Q 2021). Net income: ฿133.5m (down 20% from 1Q 2021). Profit margin: 17% (down from 21% in 1Q 2021). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 9% per year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 7 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Jirawit Masrangsan was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 01
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ฿1.72 (up from ฿1.51 in FY 2020). Revenue: ฿3.13b (up 5.9% from FY 2020). Net income: ฿618.9m (up 14% from FY 2020). Profit margin: 20% (up from 18% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 13% per year and the company’s share price has also increased by 13% per year. Buying Opportunity • Jan 24
Now 20% undervalued Over the last 90 days, the stock is up 1.6%. The fair value is estimated to be ฿39.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 13% per annum over the last 3 years. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS ฿0.42 (vs ฿0.34 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿764.7m (up 9.8% from 3Q 2020). Net income: ฿151.8m (up 24% from 3Q 2020). Profit margin: 20% (up from 18% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 12% per year. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS ฿0.38 (vs ฿0.35 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿700.6m (up 1.1% from 2Q 2020). Net income: ฿136.6m (up 6.9% from 2Q 2020). Profit margin: 20% (up from 19% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 12% per year. Reported Earnings • May 15
First quarter 2021 earnings released: EPS ฿0.47 (vs ฿0.38 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿811.2m (up 5.2% from 1Q 2020). Net income: ฿167.6m (up 22% from 1Q 2020). Profit margin: 21% (up from 18% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 24
Upcoming dividend of ฿1.25 per share Eligible shareholders must have bought the stock before 30 April 2021. Payment date: 18 May 2021. Trailing yield: 4.0%. Lower than top quartile of Thai dividend payers (4.9%). Higher than average of industry peers (3.4%). Is New 90 Day High Low • Mar 15
New 90-day high: ฿27.00 The company is up 6.0% from a price of ฿25.50 on 15 December 2020. Underperformed the Thai market, which is up 7.0% over the last 90 days. Lagged the Food industry, which is up 10.0% over the same period. Reported Earnings • Feb 26
Full year 2020 earnings released: EPS ฿1.51 (vs ฿1.24 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿2.95b (up 1.1% from FY 2019). Net income: ฿543.4m (up 22% from FY 2019). Profit margin: 18% (up from 15% in FY 2019). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Jan 27
New 90-day high: ฿26.50 The company is up 6.0% from its price of ฿25.00 on 29 October 2020. The Thai market is up 25% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is up 7.0% over the same period. Is New 90 Day High Low • Jan 08
New 90-day high: ฿26.00 The company is up 4.0% from its price of ฿25.00 on 09 October 2020. The Thai market is up 20% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Food industry, which is up 1.0% over the same period. Is New 90 Day High Low • Dec 17
New 90-day high: ฿25.75 The company is up 2.0% from its price of ฿25.25 on 18 September 2020. The Thai market is up 16% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Food industry, which is down 1.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS ฿0.34 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2020 results: Revenue: ฿696.6m (flat on 3Q 2019). Net income: ฿122.7m (up 18% from 3Q 2019). Profit margin: 18% (up from 15% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.