Major Estimate Revision • May 14
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from ₱55.7b to ₱54.9b. EPS estimate also fell from ₱0.434 per share to ₱0.376 per share. Net income forecast to grow 4.5% next year vs 35% growth forecast for Chemicals industry in Philippines. Consensus price target down from ₱6.58 to ₱6.12. Share price was steady at ₱3.55 over the past week. Price Target Changed • May 13
Price target decreased by 11% to ₱6.00 Down from ₱6.77, the current price target is an average from 4 analysts. New target price is 74% above last closing price of ₱3.45. Stock is down 39% over the past year. The company is forecast to post earnings per share of ₱0.37 for next year compared to ₱0.36 last year. Reported Earnings • Apr 16
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: ₱0.36 (up from ₱0.33 in FY 2024). Revenue: ₱55.4b (up 36% from FY 2024). Net income: ₱2.59b (up 11% from FY 2024). Profit margin: 4.7% (down from 5.8% in FY 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) missed analyst estimates by 5.2%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Chemicals industry in Asia. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. Buy Or Sell Opportunity • Apr 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.8% to ₱3.70. The fair value is estimated to be ₱4.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Earnings per share has declined by 11%. For the next 3 years, revenue is forecast to grow by 7.5% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Ankündigung • Mar 25
D&L Industries, Inc., Annual General Meeting, Jun 08, 2026 D&L Industries, Inc., Annual General Meeting, Jun 08, 2026, at 09:00 W. Australia Standard Time. Buy Or Sell Opportunity • Mar 23
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.3% to ₱3.40. The fair value is estimated to be ₱4.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Earnings per share has declined by 11%. Revenue is forecast to decline by 1.7% in 2 years. Earnings are forecast to grow by 43% in the next 2 years. Buy Or Sell Opportunity • Mar 09
Now 21% undervalued Over the last 90 days, the stock has risen 12% to ₱3.68. The fair value is estimated to be ₱4.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Earnings per share has declined by 11%. Revenue is forecast to decline by 1.7% in 2 years. Earnings are forecast to grow by 43% in the next 2 years. New Risk • Feb 03
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: ₱32m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Significant insider selling over the past 3 months (₱32m sold). Recent Insider Transactions • Feb 03
Key Executive recently sold ₱32m worth of stock On the 30th of January, John Lao sold around 8m shares on-market at roughly ₱3.94 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. John has been a net seller over the last 12 months, reducing personal holdings by ₱32m. Ankündigung • Jan 26
D&L Industries Advances Natural Fiber Innovation with Launch of Abaca Plastic Pellet D&L Industries, through its subsidiary D&L Polymer & Colours, Inc. (DLPC), announced a new milestone in its sustainability efforts with the launch of a 100% abaca pellet that is ready for direct use in plastics compounding. This advancement builds on the company's breakthrough last year, when DLPC first demonstrated the feasibility of incorporating natural fibers like abaca into plastics-an innovation that, at the time, required DLPC to manage all compounding and downstream application work in-house. The latest development marks a significant evolution: instead of DLPC exclusively processing the fibers into composite materials, the company can now supply abaca in a standardized pellet format that upstream plastic compounders can blend directly into their own formulations. This shift dramatically widens potential applications and enables far more scalable adoption across the plastics value chain. The new pellet technology transforms abaca -abundant, renewable, and considered the strongest natural fiber in the world - into a ready-to-use additive that fits seamlessly into the manufacturing processes of plastic compounders and processors. 100% Abaca pellet ready for plastic compounding. "Pelletization is the tipping point that finally makes natural fibers easy to use at scale. With a ready-to-compound 100% abaca pellet, manufacturers can incorporate sustainability into their products without changing their processes, opening an entirely new market where abaca can be handled just like any conventional polymer ingredient. The proprietary technology can also work with other locally sourced fibers such as pineapple, bakong, and vetiver, further expanding the country's potential to supply high -value bio-based materials," DLPC President & CEO Lester Lao commented. At the end of their life cycle, products made with natural fiber composites can enter conventional recycling or waste diversion systems, and depending on the formulation, can also be made compostable to support greater circularity. From a broader sustainability perspective, the implications are considerable. Natural fiber composites produced using these pellets can replace a meaningful portion of virgin polymers-with current formulations allowing dosing of up to 40% and the potential to go higher as technology advances - reducing dependence on fossil-based plastics while delivering improvements in strength, durability, and weight efficiency. The transition from DLPC-centric compounding to a pelletized, market-ready input, with a 100% Abaca pellet. Recent Insider Transactions • Dec 27
Member of Advisory Board recently bought ₱1.8m worth of stock On the 19th of December, Lee Lao bought around 500k shares on-market at roughly ₱3.60 per share. This transaction amounted to 1.2% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱4.1m. Insiders have collectively bought ₱20m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Dec 15
Investor Relations Manager recently bought ₱401k worth of stock On the 10th of December, Crissa Marie Bondad bought around 120k shares on-market at roughly ₱3.34 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱3.8m. Insiders have collectively bought ₱7.8m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Dec 06
CEO, President & Executive Director recently bought ₱3.8m worth of stock On the 3rd of December, Alvin Lao bought around 1m shares on-market at roughly ₱3.49 per share. This transaction amounted to 8.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Alvin has been a buyer over the last 12 months, purchasing a net total of ₱5.8m worth in shares. Recent Insider Transactions • Nov 22
Lead Independent Non-Executive Director recently bought ₱380k worth of stock On the 17th of November, Mercedita Nolledo bought around 100k shares on-market at roughly ₱3.80 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱932k. Insiders have collectively bought ₱3.0m more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₱3.80, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 19x in the Chemicals industry in Asia. Total loss to shareholders of 44% over the past three years. Recent Insider Transactions • Sep 23
Key Executive recently bought ₱99k worth of stock On the 16th of September, John Lao bought around 20k shares on-market at roughly ₱4.96 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱932k. This was John's only on-market trade for the last 12 months. Recent Insider Transactions • Aug 28
Investor Relations Manager recently bought ₱296k worth of stock On the 26th of August, Crissa Marie Bondad bought around 63k shares on-market at roughly ₱4.69 per share. This transaction amounted to 8.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱2.1m more in shares than they have sold in the last 12 months. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: ₱0.10 (vs ₱0.096 in 2Q 2024) Second quarter 2025 results: EPS: ₱0.10 (up from ₱0.096 in 2Q 2024). Revenue: ₱12.3b (up 22% from 2Q 2024). Net income: ₱714.4m (up 2.3% from 2Q 2024). Profit margin: 5.8% (down from 6.9% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Chemicals industry in Asia. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 13% per year. Ankündigung • Jun 05
D&L Industries, Inc. Announces Board Changes D&L Industries, Inc. at the annual meeting of the stockholders held on 2 June 2025 elected the following as members of the Board of Directors to serve for the term 2025-2026: Atty. Mercedita S. Nolledo - Independent Director; Ms. Corazon S. de la Paz-Bernardo - Independent Director; Dr. Lydia R. Balatbat-Echauz - Independent Director. At the same meeting the Board constituted the following Committees for the term 2025-2026, as follows: Executive Committee: Chairperson: Mr. Yin Yong L. Lao; Members: Mr. John L. Lao; Mr. Alvin D. Lao; Mr. Dean A. Lao, Jr.; Mr. Vincent D. Lao; Mr. Lester A. Lao; Mr. Franco Diego Q. Lao; Audit Committee: Chairperson: Ms. Corazon S. de la Paz-Bernardo; Members: Atty. Mercedita S. Nolledo; Ms. Lydia Balatbat R. Echauz; Mr. Karl Kendrick T. Chua. The Audit Committee will perform the functions of the Related Party Transactions Committee. Corporate Governance Committee: Chairperson: Atty. Mercedita S. Nolledo; Members Dr. Lydia R. Balatbat-Echauz; Ms. Corazon S. de la Paz-Bernardo Mr. Yin Yong L. Lao; The Corporate Governance Committee will perform the functions of the Nomination Committee and Compensation/Remuneration Committee. Risk Oversight and Sustainability Committee: Chairperson: Dr. Lydia R. Balatbat-Echauz. Members: Ms. Corazon S. de la Paz-Bernardo; Mr. Karl Kendrick Chua; Mr. Alvin D. Lao; Mr. John L. Lao The Board also appointed the following to the Advisory Board for the term 2025-2026: Advisory Board: Mr. Dean L. Lao; Mr. Leon L. Lao; Mr. Alex L. Lao. Finally, the Independent Directors designated Atty. Mercedita S. Nolledo as Lead Independent Director of the Corporation. Declared Dividend • Jun 04
Dividend increased to ₱0.21 Dividend of ₱0.21 is 1.9% higher than last year. Ex-date: 17th June 2025 Payment date: 2nd July 2025 Dividend yield will be 3.8%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by earnings (50% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 58% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • May 16
Consensus revenue estimates increase by 21%, EPS downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from ₱42.8b to ₱51.6b. EPS estimate fell from ₱0.402 to ₱0.38. Net income forecast to grow 19% next year vs 29% growth forecast for Chemicals industry in Philippines. Consensus price target broadly unchanged at ₱7.08. Share price fell 2.8% to ₱5.64 over the past week. Reported Earnings • May 08
First quarter 2025 earnings released: EPS: ₱0.10 (vs ₱0.09 in 1Q 2024) First quarter 2025 results: EPS: ₱0.10 (up from ₱0.09 in 1Q 2024). Revenue: ₱14.3b (up 62% from 1Q 2024). Net income: ₱681.1m (up 10% from 1Q 2024). Profit margin: 4.8% (down from 7.0% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Chemicals industry in Asia. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 7% per year. Ankündigung • May 02
D&L Industries, Inc. to Report Q1, 2025 Results on May 07, 2025 D&L Industries, Inc. announced that they will report Q1, 2025 results on May 07, 2025 Price Target Changed • Apr 30
Price target decreased by 8.4% to ₱6.96 Down from ₱7.60, the current price target is an average from 5 analysts. New target price is 22% above last closing price of ₱5.70. Stock is down 8.8% over the past year. The company is forecast to post earnings per share of ₱0.40 for next year compared to ₱0.33 last year. Recent Insider Transactions • Mar 25
CEO, President & Executive Director recently bought ₱537k worth of stock On the 19th of March, Alvin Lao bought around 100k shares on-market at roughly ₱5.37 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Alvin has been a buyer over the last 12 months, purchasing a net total of ₱959k worth in shares. Reported Earnings • Mar 17
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: ₱0.33 (up from ₱0.32 in FY 2023). Revenue: ₱40.7b (up 21% from FY 2023). Net income: ₱2.34b (up 2.0% from FY 2023). Profit margin: 5.8% (down from 6.9% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 6.7%. Earnings per share (EPS) missed analyst estimates by 8.7%. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Chemicals industry in Asia. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 8% per year. Recent Insider Transactions • Mar 15
Insider recently bought ₱502k worth of stock On the 7th of March, Dean Lao bought around 90k shares on-market at roughly ₱5.58 per share. This transaction amounted to 4.8% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱6.2m more in shares than they have sold in the last 12 months. Ankündigung • Feb 28
D&L Industries, Inc., Annual General Meeting, Jun 02, 2025 D&L Industries, Inc., Annual General Meeting, Jun 02, 2025, at 09:00 W. Australia Standard Time. Recent Insider Transactions • Feb 11
Independent Non-Executive Director recently bought ₱299k worth of stock On the 5th of February, Lydia R. Echauz bought around 50k shares on-market at roughly ₱5.99 per share. This transaction amounted to 36% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱618k. Insiders have collectively bought ₱5.7m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Nov 26
Investor Relations Manager recently bought ₱618k worth of stock On the 20th of November, Crissa Marie Bondad bought around 100k shares on-market at roughly ₱6.18 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱5.4m more in shares than they have sold in the last 12 months. Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: ₱0.07 (vs ₱0.08 in 3Q 2023) Third quarter 2024 results: EPS: ₱0.07 (down from ₱0.08 in 3Q 2023). Revenue: ₱10.5b (up 24% from 3Q 2023). Net income: ₱493.2m (down 11% from 3Q 2023). Profit margin: 4.7% (down from 6.5% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Chemicals industry in Asia. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 12% per year. Ankündigung • Nov 05
D&L Industries, Inc. to Report Q3, 2024 Results on Nov 05, 2024 D&L Industries, Inc. announced that they will report Q3, 2024 results on Nov 05, 2024 Recent Insider Transactions • Oct 25
Corporate Information Officer recently bought ₱335k worth of stock On the 18th of October, Kristine Ann Catindig-Ong bought around 50k shares on-market at roughly ₱6.70 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold ₱61m more in shares than they bought in the last 12 months. Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: ₱0.10 (vs ₱0.09 in 2Q 2023) Second quarter 2024 results: EPS: ₱0.10 (up from ₱0.09 in 2Q 2023). Revenue: ₱10.1b (up 30% from 2Q 2023). Net income: ₱698.4m (up 8.2% from 2Q 2023). Profit margin: 6.9% (down from 8.3% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Chemicals industry in Asia. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 10% per year. Recent Insider Transactions • Jun 22
Independent Non-Executive Director recently bought ₱300k worth of stock On the 19th of June, Lydia R. Echauz bought around 50k shares on-market at roughly ₱6.00 per share. This transaction amounted to 56% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold ₱266m more in shares than they bought in the last 12 months. Declared Dividend • Jun 05
Dividend of ₱0.21 announced Shareholders will receive a dividend of ₱0.21. Ex-date: 18th June 2024 Payment date: 3rd July 2024 Dividend yield will be 3.3%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by both earnings (68% earnings payout ratio) and cash flows (80% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 66% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • May 29
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Recent Insider Transactions • May 25
CEO, President & Executive Director recently bought ₱248k worth of stock On the 21st of May, Alvin Lao bought around 40k shares on-market at roughly ₱6.20 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱630k. Alvin has been a buyer over the last 12 months, purchasing a net total of ₱874k worth in shares. Reported Earnings • May 14
First quarter 2024 earnings released: EPS: ₱0.09 (vs ₱0.08 in 1Q 2023) First quarter 2024 results: EPS: ₱0.09 (up from ₱0.08 in 1Q 2023). Revenue: ₱8.83b (up 5.0% from 1Q 2023). Net income: ₱617.9m (up 4.0% from 1Q 2023). Profit margin: 7.0% (in line with 1Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Chemicals industry in Asia. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 6% per year. Recent Insider Transactions • Mar 20
Investor Relations Manager recently bought ₱314k worth of stock On the 18th of March, Crissa Marie Bondad bought around 50k shares on-market at roughly ₱6.27 per share. This transaction amounted to 9.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold ₱270m more in shares than they bought in the last 12 months. Reported Earnings • Mar 01
Full year 2023 earnings released: EPS: ₱0.32 (vs ₱0.46 in FY 2022) Full year 2023 results: EPS: ₱0.32 (down from ₱0.46 in FY 2022). Revenue: ₱33.5b (down 23% from FY 2022). Net income: ₱2.30b (down 31% from FY 2022). Profit margin: 6.9% (down from 7.6% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Chemicals industry in Asia. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Ankündigung • Feb 28
D&L Industries, Inc., Annual General Meeting, Jun 03, 2024 D&L Industries, Inc., Annual General Meeting, Jun 03, 2024, at 09:00 Singapore Standard Time. Recent Insider Transactions • Nov 29
Key Executive recently sold ₱66m worth of stock On the 21st of November, John Lao sold around 11m shares on-market at roughly ₱6.00 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₱205m. This was John's only on-market trade for the last 12 months. Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: ₱0.08 (vs ₱0.13 in 3Q 2022) Third quarter 2023 results: EPS: ₱0.08 (down from ₱0.13 in 3Q 2022). Revenue: ₱8.49b (down 27% from 3Q 2022). Net income: ₱552.2m (down 39% from 3Q 2022). Profit margin: 6.5% (down from 7.9% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in Asia. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Sep 22
Non-Executive Chairman of the Board recently sold ₱205m worth of stock On the 20th of September, Yin Yong Lao sold around 33m shares on-market at roughly ₱6.22 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Yin Yong's only on-market trade for the last 12 months. Price Target Changed • Sep 18
Price target decreased by 8.5% to ₱8.89 Down from ₱9.72, the current price target is an average from 5 analysts. New target price is 42% above last closing price of ₱6.25. Stock is down 18% over the past year. The company is forecast to post earnings per share of ₱0.49 for next year compared to ₱0.46 last year. Recent Insider Transactions • Aug 24
Corporate Information Officer recently bought ₱268k worth of stock On the 22nd of August, Kristine Ann Catindig-Ong bought around 40k shares on-market at roughly ₱6.70 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱48m more in shares than they have sold in the last 12 months. Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: ₱0.09 (vs ₱0.13 in 2Q 2022) Second quarter 2023 results: EPS: ₱0.09 (down from ₱0.13 in 2Q 2022). Revenue: ₱7.82b (down 37% from 2Q 2022). Net income: ₱645.6m (down 31% from 2Q 2022). Profit margin: 8.3% (up from 7.6% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in Asia. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 12% per year. Ankündigung • Aug 09
D&L Industries, Inc. to Report Q2, 2023 Results on Aug 08, 2023 D&L Industries, Inc. announced that they will report Q2, 2023 results on Aug 08, 2023 Board Change • Jul 18
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Corazon de la Paz-Bernardo was the last 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: Insufficient board refreshment. Upcoming Dividend • Jun 08
Upcoming dividend of ₱0.30 per share at 3.2% yield Eligible shareholders must have bought the stock before 15 June 2023. Payment date: 14 July 2023. Payout ratio is a comfortable 43% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of Filipino dividend payers (5.7%). Higher than average of industry peers (2.8%). Major Estimate Revision • May 09
Consensus revenue estimates fall by 10% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ₱50.0b to ₱44.8b. EPS estimate fell from ₱0.555 to ₱0.508 per share. Net income forecast to grow 9.3% next year vs 31% growth forecast for Chemicals industry in Philippines. Consensus price target down from ₱9.72 to ₱9.17. Share price fell 5.1% to ₱7.88 over the past week. Ankündigung • May 05
D&L Industries, Inc. to Report Q1, 2023 Results on May 04, 2023 D&L Industries, Inc. announced that they will report Q1, 2023 results on May 04, 2023 Reported Earnings • Apr 19
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: ₱0.46 (up from ₱0.37 in FY 2021). Revenue: ₱43.5b (up 41% from FY 2021). Net income: ₱3.32b (up 26% from FY 2021). Profit margin: 7.6% (down from 8.6% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) also surpassed analyst estimates by 6.0%. Revenue is forecast to grow 8.6% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Chemicals industry in Asia. 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. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 3 highly experienced directors. Independent Director Corazon de la Paz-Bernardo was the last 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: Insufficient board refreshment. Recent Insider Transactions • Oct 26
Insider recently bought ₱767k worth of stock On the 24th of October, Dean Lao bought around 110k shares on-market at roughly ₱6.97 per share. This transaction amounted to 6.7% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₱31m. Insiders have collectively bought ₱39m more in shares than they have sold in the last 12 months. Buying Opportunity • Oct 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 4.0%. The fair value is estimated to be ₱8.54, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 12% in 2 years. Earnings is forecast to grow by 37% in the next 2 years. Recent Insider Transactions • Sep 09
Managing Director of Oleo-Fats Inc recently bought ₱31m worth of stock On the 7th of September, Vincent Lao bought around 4m shares on-market at roughly ₱7.79 per share. This transaction increased Vincent's direct individual holding by 2x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱38m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Aug 30
Co-Founder recently sold ₱3.5m worth of stock On the 22nd of August, Dean Lao sold around 468k shares on-market at roughly ₱7.53 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₱16m. Insiders have been net sellers, collectively disposing of ₱8.6m more than they bought in the last 12 months. Reported Earnings • Aug 18
Second quarter 2022 earnings released: EPS: ₱0.12 (vs ₱0.10 in 2Q 2021) Second quarter 2022 results: EPS: ₱0.12 (up from ₱0.10 in 2Q 2021). Revenue: ₱12.3b (up 79% from 2Q 2021). Net income: ₱850.6m (up 22% from 2Q 2021). Profit margin: 6.9% (down from 10% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is expected to shrink by 2.5% compared to a 23% growth forecast for the Chemicals industry in Philippines. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Ankündigung • Aug 10
D&L Industries, Inc. to Report Q2, 2022 Results on Aug 09, 2022 D&L Industries, Inc. announced that they will report Q2, 2022 results on Aug 09, 2022 Recent Insider Transactions • Jul 13
CEO, President & Director recently bought ₱681k worth of stock On the 6th of July, Alvin Lao bought around 100k shares on-market at roughly ₱6.81 per share. In the last 3 months, there was an even bigger purchase from another insider worth ₱2.0m. Alvin has been a buyer over the last 12 months, purchasing a net total of ₱899k worth in shares. Recent Insider Transactions • Jun 16
Vice Chairman of the Board recently bought ₱2.0m worth of stock On the 14th of June, John Lao bought around 300k shares on-market at roughly ₱6.81 per share. In the last 3 months, there was an even bigger purchase from another insider worth ₱5.5m. This was John's only on-market trade for the last 12 months. Upcoming Dividend • Jun 09
Upcoming dividend of ₱0.24 per share Eligible shareholders must have bought the stock before 16 June 2022. Payment date: 15 July 2022. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Filipino dividend payers (4.7%). Lower than average of industry peers (2.4%). Reported Earnings • May 11
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: ₱0.37 (up from ₱0.28 in FY 2020). Revenue: ₱30.9b (up 42% from FY 2020). Net income: ₱2.64b (up 31% from FY 2020). Profit margin: 8.6% (down from 9.3% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is expected to shrink by 5.6% compared to a 22% growth forecast for the industry in Philippines. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 11% per year. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 3 highly experienced directors. Independent Director Corazon de la Paz-Bernardo was the last 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: Insufficient board refreshment. Ankündigung • Mar 31
D&L Industries, Inc., Annual General Meeting, Jun 06, 2022 D&L Industries, Inc., Annual General Meeting, Jun 06, 2022. Agenda: To consider to delegate to the Board of Directors the power to amend the Corporation's By-Laws for purposes of complying with subsequent requirements of law and regulatory bodies including practices that the Corporation may be required to adopt and to reflect therein. Recent Insider Transactions • Mar 16
CEO, President & Director recently bought ₱217k worth of stock On the 8th of March, Alvin Lao bought around 30k shares on-market at roughly ₱7.25 per share. This was the largest purchase by an insider in the last 3 months. This was Alvin's only on-market trade for the last 12 months. Price Target Changed • Dec 16
Price target increased to ₱9.63 Up from ₱8.99, the current price target is an average from 5 analysts. New target price is 7.0% above last closing price of ₱9.00. Stock is up 21% over the past year. The company is forecast to post earnings per share of ₱0.37 for next year compared to ₱0.28 last year. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS ₱0.09 (vs ₱0.04 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₱6.90b (up 53% from 2Q 2020). Net income: ₱671.4m (up 134% from 2Q 2020). Profit margin: 9.7% (up from 6.4% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Jun 16
Co-Founder & Member of Advisory Board recently sold ₱484m worth of stock On the 14th of June, Leon Lao sold around 61m shares on-market at roughly ₱7.98 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₱740m more than they bought in the last 12 months. Ankündigung • Jun 08
D&L Industries, Inc. Declares Special Cash Dividend, Payable on July 15, 2021 D&L INDUSTRIES, INC. declared a special cash dividend of PHP 0.05 per share to all stockholders of record as of June 21, 2021, payable on July 15, 2021. Recent Insider Transactions • May 28
Corporate Information Officer recently bought ₱187k worth of stock On the 26th of May, Ann Catindig-Ong bought around 25k shares on-market at roughly ₱7.46 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold ₱58m more in shares than they bought in the last 12 months. Reported Earnings • May 17
First quarter 2021 earnings released The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: ₱7.00b (up 24% from 1Q 2020). Net income: ₱694.9m (up 35% from 1Q 2020). Profit margin: 9.9% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 13% per year. Major Estimate Revision • May 14
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from ₱25.6b to ₱24.6b. EPS estimate rose from ₱0.30 to ₱0.35. Net income forecast to grow 24% next year vs 34% growth forecast for Chemicals industry in Philippines. Consensus price target up from ₱7.31 to ₱8.24. Share price was steady at ₱7.60 over the past week. Price Target Changed • May 11
Price target increased to ₱7.91 Up from ₱7.31, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of ₱7.75. Stock is up 53% over the past year. Executive Departure • May 11
CFO, Chief Compliance Officer & Treasurer has left the company On the 4th of May, Amorsolo Rosario's tenure as CFO, Chief Compliance Officer & Treasurer ended after less than a year in the role. As of December 2020, Amorsolo personally held only 270.00k shares (₱2.1m worth at the time). A total of 2 executives have left over the last 12 months. Reported Earnings • Apr 29
Full year 2020 earnings released: EPS ₱0.28 (vs ₱0.37 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ₱21.7b (down 2.9% from FY 2019). Net income: ₱2.01b (down 23% from FY 2019). Profit margin: 9.3% (down from 12% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 12% per year. Recent Insider Transactions • Feb 05
Vice Chairman recently bought ₱1.8m worth of stock On the 2nd of February, John Lao bought around 275k shares on-market at roughly ₱6.67 per share. This was the largest purchase by an insider in the last 3 months. John has been a buyer over the last 12 months, purchasing a net total of ₱6.0m worth in shares. Recent Insider Transactions • Jan 28
Assistant Corporate Secretary recently bought ₱804k worth of stock On the 19th of January, Anne Lao bought around 110k shares on-market at roughly ₱7.31 per share. In the last 3 months, there was an even bigger purchase from another insider worth ₱1.8m. Despite this recent purchase, insiders have collectively sold ₱105m more in shares than they bought in the last 12 months. Recent Insider Transactions • Jan 07
Member of Advisory Board recently sold ₱24m worth of stock On the 5th of January, Alex Lao sold around 3m shares on-market at roughly ₱7.39 per share. In the last 3 months, there was an even bigger sale from another insider worth ₱50m. Insiders have been net sellers, collectively disposing of ₱111m more than they bought in the last 12 months. Is New 90 Day High Low • Dec 30
New 90-day high: ₱7.70 The company is up 40% from its price of ₱5.50 on 01 October 2020. The Filipino market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₱2.07 per share. Recent Insider Transactions • Dec 29
Chairman of the Board recently sold ₱50m worth of stock On the 23rd of December, Yin Yong Lao sold around 7m shares on-market at roughly ₱7.35 per share. This was the largest sale by an insider in the last 3 months. This was Yin Yong's only on-market trade for the last 12 months. Is New 90 Day High Low • Dec 08
New 90-day high: ₱7.45 The company is up 35% from its price of ₱5.52 on 09 September 2020. The Filipino market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₱9.59 per share. 
