Reported Earnings • May 19
First quarter 2026 earnings released: EPS: ฿0.02 (vs ฿0.02 in 1Q 2025) First quarter 2026 results: EPS: ฿0.02 (in line with 1Q 2025). Revenue: ฿180.6m (up 4.9% from 1Q 2025). Net income: ฿27.4m (up 4.1% from 1Q 2025). Profit margin: 15% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 26
Full year 2025 earnings released: EPS: ฿0.08 (vs ฿0.089 in FY 2024) Full year 2025 results: EPS: ฿0.08 (down from ฿0.089 in FY 2024). Revenue: ฿728.5m (up 2.2% from FY 2024). Net income: ฿98.7m (down 14% from FY 2024). Profit margin: 14% (down from 16% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Declared Dividend • Feb 25
Dividend increased to ฿0.061 Dividend of ฿0.061 is 1.3% higher than last year. Ex-date: 11th March 2026 Payment date: 20th May 2026 Dividend yield will be 6.5%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (74% earnings payout ratio) but not covered by cash flows (104% cash payout ratio). The dividend has increased by an average of 211% per year over the past 3 years and payments have been stable during that time. The company's earnings per share (EPS) would need to decline by 18% to shift the payout ratio to a potentially unsustainable range, which is similar to the EPS decline seen over the last 5 years. New Risk • Dec 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 5.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (104% cash payout ratio). Share price has been volatile over the past 3 months (5.9% average weekly change). Market cap is less than US$100m (฿1.21b market cap, or US$38.0m). Reported Earnings • Nov 16
Third quarter 2025 earnings released: EPS: ฿0.02 (vs ฿0.016 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.02 (up from ฿0.016 in 3Q 2024). Revenue: ฿170.9m (down 2.6% from 3Q 2024). Net income: ฿26.6m (up 25% from 3Q 2024). Profit margin: 16% (up from 12% in 3Q 2024). The increase in margin was driven by lower expenses. Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: ฿0.02 (vs ฿0.029 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.02 (down from ฿0.029 in 2Q 2024). Revenue: ฿172.2m (down 1.0% from 2Q 2024). Net income: ฿25.3m (down 31% from 2Q 2024). Profit margin: 15% (down from 21% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. New Risk • Aug 14
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 135% Dividend yield: 7.1% 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: Minor Risks Dividend is not well covered by cash flows (135% cash payout ratio). Market cap is less than US$100m (฿1.13b market cap, or US$35.0m). Reported Earnings • May 14
First quarter 2025 earnings released: EPS: ฿0.02 (vs ฿0.021 in 1Q 2024) First quarter 2025 results: EPS: ฿0.02 (down from ฿0.021 in 1Q 2024). Revenue: ฿172.2m (down 4.5% from 1Q 2024). Net income: ฿26.3m (down 6.4% from 1Q 2024). Profit margin: 15% (in line with 1Q 2024). Upcoming Dividend • Mar 04
Upcoming dividend of ฿0.06 per share Eligible shareholders must have bought the stock before 11 March 2025. Payment date: 20 May 2025. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 6.0%. Lower than top quartile of Thai dividend payers (7.6%). Higher than average of industry peers (1.4%). Reported Earnings • Feb 26
Full year 2024 earnings released: EPS: ฿0.09 (vs ฿0.077 in FY 2023) Full year 2024 results: EPS: ฿0.09 (up from ฿0.077 in FY 2023). Revenue: ฿713.0m (flat on FY 2023). Net income: ฿114.8m (up 15% from FY 2023). Profit margin: 16% (up from 14% in FY 2023). Ankündigung • Feb 25
D.T.C. Enterprise Public Company Limited, Annual General Meeting, Apr 21, 2025 D.T.C. Enterprise Public Company Limited, Annual General Meeting, Apr 21, 2025, at 13:30 SE Asia Standard Time. Location: d.t.c. enterprise public company limited, Thailand Ankündigung • Feb 24
D.T.C. Enterprise Public Company Limited Proposes Cash Dividend for the Operating Period from 01 January 2024 to 31 December 2024, Payable on 20 May 2025 D.T.C. Enterprise Public Company Limited at its Annual General Meeting of Shareholders to be held on 21 April 2025, proposed cash dividend of THB 0.06 per share for the Operating period from 01 January 2024 to 31 December 2024. Record date for the right to receive dividends is on 12 March 2025 with Ex-dividend date is on 11 March 2025. Payment date is on 20 May 2025. Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: ฿0.02 (vs ฿0.033 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.02 (down from ฿0.033 in 3Q 2023). Revenue: ฿175.4m (down 18% from 3Q 2023). Net income: ฿21.2m (down 51% from 3Q 2023). Profit margin: 12% (down from 20% in 3Q 2023). The decrease in margin was driven by lower revenue. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: ฿0.03 (vs ฿0.018 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.03 (up from ฿0.018 in 2Q 2023). Revenue: ฿174.0m (up 3.1% from 2Q 2023). Net income: ฿36.7m (up 59% from 2Q 2023). Profit margin: 21% (up from 14% in 2Q 2023). The increase in margin was primarily driven by lower expenses. Ankündigung • Jul 02
D.T.C. Enterprise Public Company Limited Announces Executive Changes D.T.C. Enterprise Public Company Limited announced changing of chief accountant. Termination of Miss Rungnapha Rittisan as Chief Accountant (Accounting Manager). Effective date of termination is 1 July 2024. Appointment of Mr. siripol Nivarat as Chief Accountant (Director of Accounting and Finance). Effective date of appointment is 1 July 2024. New Risk • May 21
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 25% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 17% per year over the past 5 years. High level of non-cash earnings (25% accrual ratio). Minor Risks Dividend is not well covered by cash flows (dividend per share is over 27x cash flows per share). Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (฿1.75b market cap, or US$48.2m). Reported Earnings • May 15
First quarter 2024 earnings released: EPS: ฿0.02 (vs ฿0.013 in 1Q 2023) First quarter 2024 results: EPS: ฿0.02 (up from ฿0.013 in 1Q 2023). Revenue: ฿180.3m (up 11% from 1Q 2023). Net income: ฿28.1m (up 68% from 1Q 2023). Profit margin: 16% (up from 10% in 1Q 2023). The increase in margin was driven by higher revenue. New Risk • May 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 17% per year over the past 5 years. High level of non-cash earnings (25% accrual ratio). Minor Risks Dividend is not well covered by cash flows (dividend per share is over 27x cash flows per share). Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (฿1.76b market cap, or US$48.1m). Upcoming Dividend • Apr 25
Upcoming dividend of ฿0.049 per share Eligible shareholders must have bought the stock before 02 May 2024. Payment date: 20 May 2024. Payout ratio is a comfortable 60% but the company is paying out more than the cash it is generating. Trailing yield: 3.7%. Lower than top quartile of Thai dividend payers (6.0%). Higher than average of industry peers (1.5%). Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: ฿0.08 (vs ฿0.054 in FY 2022) Full year 2023 results: EPS: ฿0.08 (up from ฿0.054 in FY 2022). Revenue: ฿709.4m (up 12% from FY 2022). Net income: ฿99.8m (up 92% from FY 2022). Profit margin: 14% (up from 8.2% in FY 2022). The increase in margin was driven by higher revenue. Declared Dividend • Feb 26
Dividend increased to ฿0.049 Dividend of ฿0.049 is 2,083% higher than last year. Ex-date: 2nd May 2024 Payment date: 20th May 2024 Dividend yield will be 2.8%, which is about the same as the industry average. Ankündigung • Feb 24
D.T.C. Enterprise Public Company Limited, Annual General Meeting, Apr 22, 2024 D.T.C. Enterprise Public Company Limited, Annual General Meeting, Apr 22, 2024, at 13:30 SE Asia Standard Time. Agenda: To consider and adopt the Minutes of the 2023 Annual General Meeting of Shareholders; To acknowledge the Company's operating results report of the year 2023; To consider and approve of the Statement of Financial Position and Statement of Comprehensive Income for the fiscal year ended 31 December 2023 which have been audited by the certified auditor; To consider and approve of the appropriation of profits as legal reserve and dividend payment; and to discuss other matters. Ankündigung • Feb 23
D.T.C. Enterprise Public Company Limited Proposes Cash Dividend, Payable on May 20, 2024 The board of directors of D.T.C. Enterprise Public Company Limited approved to propose to the 2024 Annual General Meeting of Shareholders meeting to be held on April 22, 2024, the cash dividend distribution of not exceeding THB 3,480,885.57 at the rate of THB 0.002777777778 per share to cover withholding tax at the rate of 10% of income under section 50(2) of the Revenue Code; and approved the cash dividend payment the amount does not exceed THB 57,304,500.00 at the rate of THB 0.045729502842 per share, which is the annual dividend for the period from 1 January 2023 31 December 2023. Payment date is May 20, 2024, ex-dividend date is May 2, 2024, and record date is May 3, 2024. Valuation Update With 7 Day Price Move • Dec 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿1.71, the stock trades at a trailing P/E ratio of 25.9x. Average trailing P/E is 32x in the Communications industry in Asia. Total loss to shareholders of 16% over the past year. New Risk • Nov 20
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 21% per year over the past 5 years. High level of non-cash earnings (24% accrual ratio). Minor Risk Market cap is less than US$100m (฿1.69b market cap, or US$48.2m). Ankündigung • Aug 22
D.T.C. Enterprise Public Company Limited Announces Resignation of Adis Ngamchitsuksri D.T.C. Enterprise Public Company Limited received the resignation letter since 18 August 2023, requested to resign from being director from Mr. Adis Ngamchitsuksri. In this regards, the Company will register the said resignation with the Department of Business Development, the Ministry of Commerce and will inform to the Board of Directors' Meeting respectively. Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿1.52, the stock trades at a trailing P/E ratio of 35.2x. Average trailing P/E is 30x in the Communications industry in Asia. New Risk • Aug 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 24% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Profit margins are more than 30% lower than last year (8.4% net profit margin). Market cap is less than US$100m (฿1.88b market cap, or US$53.1m). New Risk • Aug 13
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 8.4% Last year net profit margin: 12% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 24% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (8.4% net profit margin). Market cap is less than US$100m (฿1.64b market cap, or US$46.8m). Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: ฿0.02 (vs ฿0.026 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.02 (down from ฿0.026 in 2Q 2022). Revenue: ฿168.8m (up 1.7% from 2Q 2022). Net income: ฿23.1m (down 5.6% from 2Q 2022). Profit margin: 14% (down from 15% in 2Q 2022). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ฿1.31, the stock trades at a trailing P/E ratio of 29.6x. Average trailing P/E is 32x in the Communications industry in Asia. Reported Earnings • Dec 16
Third quarter 2022 earnings released: EPS: ฿0.016 (vs ฿0.034 in 3Q 2021) Third quarter 2022 results: EPS: ฿0.016 (down from ฿0.034 in 3Q 2021). Revenue: ฿154.5m (up 6.7% from 3Q 2021). Net income: ฿14.6m (down 7.7% from 3Q 2021). Profit margin: 9.4% (down from 11% in 3Q 2021). The decrease in margin was driven by higher expenses. Ankündigung • Dec 15
D.T.C. Enterprise Public Company Limited has completed an IPO in the amount of THB 872.3 million. D.T.C. Enterprise Public Company Limited has completed an IPO in the amount of THB 872.3 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 305,000,000
Price\Range: THB 2.86
Transaction Features: Reserved Share Offering 
