Buy Or Sell Opportunity • Apr 21
Now 22% overvalued Over the last 90 days, the stock has fallen 1.8% to ฿5.50. The fair value is estimated to be ฿4.50, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.1% over the last 3 years. Earnings per share has declined by 12%. For the next 3 years, revenue is forecast to grow by 9.6% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. New Risk • Mar 27
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ฿3.29b (US$99.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (159% cash payout ratio). Market cap is less than US$100m (฿3.29b market cap, or US$99.9m). Buy Or Sell Opportunity • Mar 10
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 4.6% to ฿5.70. The fair value is estimated to be ฿4.66, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.1% over the last 3 years. Earnings per share has declined by 12%. For the next 3 years, revenue is forecast to grow by 9.6% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Reported Earnings • Feb 25
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: ฿0.43 (up from ฿0.38 in FY 2024). Revenue: ฿16.6b (up 17% from FY 2024). Net income: ฿267.1m (up 15% from FY 2024). Profit margin: 1.6% (in line with FY 2024). Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 3.4%. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Specialty Retail industry in Thailand. Declared Dividend • Feb 25
Final dividend of ฿0.18 announced Shareholders will receive a dividend of ฿0.18. Ex-date: 11th March 2026 Payment date: 6th May 2026 Dividend yield will be 5.9%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (86% earnings payout ratio) but not covered by cash flows (159% cash payout ratio). The dividend has increased by an average of 124% per year over the past 2 years and payments have been stable during that time. EPS is expected to grow by 39% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Jan 28
Now 22% undervalued Over the last 90 days, the stock has risen 13% to ฿5.55. The fair value is estimated to be ฿7.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Earnings per share has declined by 15%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to grow by 33% in the next 2 years. Buy Or Sell Opportunity • Jan 10
Now 20% undervalued Over the last 90 days, the stock has risen 6.5% to ฿5.70. The fair value is estimated to be ฿7.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Earnings per share has declined by 15%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to grow by 33% in the next 2 years. Reported Earnings • Nov 12
Third quarter 2025 earnings: EPS in line with expectations, revenues disappoint Third quarter 2025 results: EPS: ฿0.11 (up from ฿0.10 in 3Q 2024). Revenue: ฿4.29b (up 14% from 3Q 2024). Net income: ฿65.6m (up 5.4% from 3Q 2024). Profit margin: 1.5% (down from 1.7% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Specialty Retail industry in Thailand. New Risk • Oct 14
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ฿3.22b (US$98.3m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (101% cash payout ratio). Market cap is less than US$100m (฿3.22b market cap, or US$98.3m). Buy Or Sell Opportunity • Sep 25
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 23% to ฿5.95. The fair value is estimated to be ฿4.85, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last year. Earnings per share has declined by 7.5%. Revenue is forecast to grow by 21% in 2 years. Earnings are forecast to grow by 27% in the next 2 years. Buy Or Sell Opportunity • Sep 09
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to ฿5.85. The fair value is estimated to be ฿4.86, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last year. Earnings per share has declined by 7.5%. Revenue is forecast to grow by 21% in 2 years. Earnings are forecast to grow by 27% in the next 2 years. Buy Or Sell Opportunity • Aug 20
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 26% to ฿5.65. The fair value is estimated to be ฿4.67, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last year. Earnings per share has declined by 7.5%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to grow by 25% in the next 2 years. New Risk • Aug 14
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 99% Dividend yield: 6.3% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 14
Second quarter 2025 earnings: EPS exceeds analyst expectations Second quarter 2025 results: EPS: ฿0.12 (up from ฿0.12 in 2Q 2024). Revenue: ฿4.01b (up 18% from 2Q 2024). Net income: ฿75.2m (up 23% from 2Q 2024). Profit margin: 1.9% (up from 1.8% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.7%. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Specialty Retail industry in Thailand. Price Target Changed • Jun 07
Price target decreased by 8.7% to ฿7.02 Down from ฿7.69, the current price target is an average from 5 analysts. New target price is 46% above last closing price of ฿4.82. Stock is up 12% over the past year. The company is forecast to post earnings per share of ฿0.43 for next year compared to ฿0.38 last year. Reported Earnings • May 14
First quarter 2025 earnings: EPS exceeds analyst expectations First quarter 2025 results: EPS: ฿0.10. Revenue: ฿3.99b (up 12% from 1Q 2024). Net income: ฿63.4m (up 12% from 1Q 2024). Profit margin: 1.6% (in line with 1Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.0%. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Specialty Retail industry in Thailand. Bekanntmachung • Apr 29
Advice It Infinite Public Company Limited Announces Cash Dividend for 2024, Payable on May 09, 2025 Advice IT Infinite Public Company Limited at its AGM held on 28 April 2025 approved the dividend payment to shareholders at the rate of THB 0.175 per share, totaling THB 108,500,000, by fixing the date to determine the list of shareholders who are entitled to receive the dividend payment on 11 March 2025 (Record Date) and dividend payment to shareholders within 9 May 2025. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ฿4.74, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Specialty Retail industry in Thailand. Total returns to shareholders of 21% over the past year. Declared Dividend • Feb 26
Final dividend of ฿0.17 announced Shareholders will receive a dividend of ฿0.17. Ex-date: 10th March 2025 Payment date: 9th May 2025 Dividend yield will be 6.1%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (85% 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 company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. EPS is expected to grow by 36% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 22
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: ฿0.38 (up from ฿0.38 in FY 2023). Revenue: ฿14.2b (up 5.1% from FY 2023). Net income: ฿232.5m (up 37% from FY 2023). Profit margin: 1.6% (up from 1.3% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.4%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 5.1% growth forecast for the Specialty Retail industry in Thailand. New Risk • Dec 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ฿3.44b (US$99.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (25% accrual ratio). Minor Risks Dividend is not well covered by cash flows (243% cash payout ratio). Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (฿3.44b market cap, or US$99.6m). Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ฿5.85, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 18x in the Specialty Retail industry in Thailand. Board Change • Nov 01
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Niyom Termsrisuk was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿4.82, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 15x in the Specialty Retail industry in Thailand. Upcoming Dividend • Aug 15
Upcoming dividend of ฿0.15 per share Eligible shareholders must have bought the stock before 22 August 2024. Payment date: 09 September 2024. Payout ratio is a comfortable 53% but the company is paying out more than the cash it is generating. Trailing yield: 6.4%. Lower than top quartile of Thai dividend payers (7.0%). Higher than average of industry peers (3.4%). New Risk • Aug 14
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 318% Dividend yield: 6.5% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risks Dividend is not well covered by cash flows (318% cash payout ratio). Market cap is less than US$100m (฿2.88b market cap, or US$82.3m). Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: ฿0.12 (vs ฿0.11 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.12 (up from ฿0.11 in 2Q 2023). Revenue: ฿3.41b (down 5.1% from 2Q 2023). Net income: ฿61.3m (up 20% from 2Q 2023). Profit margin: 1.8% (up from 1.4% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 2 years, compared to a 5.0% growth forecast for the Specialty Retail industry in Thailand. Bekanntmachung • Aug 10
Advice IT Infinite Public Company Limited Announces Cash Dividend for the Operating Period from January 1, 2024 to June 30, 2024, Payable on September 9, 2024 Advice IT Infinite Public Company Limited announced cash dividend of THB 0.50 per share for the operating period from January 1, 2024 to June 30, 2024. Record date for the right to receive dividends is August 23, 2024, Ex-dividend date is August 22, 2024 and Payment Date is September 9, 2024. Buy Or Sell Opportunity • May 15
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to ฿4.16. The fair value is estimated to be ฿5.31, 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 declined by 46%. Revenue is forecast to grow by 9.5% in 2 years. Earnings are forecast to grow by 63% in the next 2 years. Buy Or Sell Opportunity • Apr 20
Now 23% undervalued The stock has been flat over the last 90 days, currently trading at ฿4.18. The fair value is estimated to be ฿5.42, 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 declined by 46%. Revenue is forecast to grow by 9.5% in 2 years. Earnings are forecast to grow by 63% in the next 2 years. Buy Or Sell Opportunity • Apr 03
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at ฿4.24. The fair value is estimated to be ฿5.33, 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 declined by 46%. Revenue is forecast to grow by 9.5% in 2 years. Earnings are forecast to grow by 63% in the next 2 years. Buy Or Sell Opportunity • Mar 18
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at ฿4.30. The fair value is estimated to be ฿5.38, 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 declined by 46%. Revenue is forecast to grow by 9.5% in 2 years. Earnings are forecast to grow by 63% in the next 2 years. Buy Or Sell Opportunity • Feb 29
Now 24% undervalued The stock has been flat over the last 90 days, currently trading at ฿4.10. The fair value is estimated to be ฿5.42, 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 declined by 46%. Revenue is forecast to grow by 9.5% in 2 years. Earnings are forecast to grow by 63% in the next 2 years. Reported Earnings • Feb 24
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: ฿0.38 (down from ฿0.56 in FY 2022). Revenue: ฿13.5b (down 6.0% from FY 2022). Net income: ฿170.2m (down 17% from FY 2022). Profit margin: 1.3% (down from 1.4% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 5.0%. Revenue is forecast to grow 4.5% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Specialty Retail industry in Thailand. Bekanntmachung • Feb 23
Advice IT Infinite Public Company Limited Approves Dividend for 2023, Payable 8 May 2024 Advice IT Infinite Public Company Limited at the SBM held on February 22, 2024, the board has approved and proposed to the 2024 AGM for consideration and approval of the appropriation of the annual net profit of THB 8,500,000 in respect of the year 2023 as a legal reserve and the dividend payment from retained profits for 2022 and the net profits of the operating results of the year 2023, to the shareholders at the rate of THB 0.07 per share, for 620,000,000 shares, totaling THB 43,400,000 by scheduling for 15 March 2024 as the Record Date to determine the lists of shareholders who are eligible to receive dividend and scheduling for the date payable such dividend to the shareholders within 8 May 2024. Board Change • Feb 01
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Director Niyom Termsrisuk was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
