Upcoming Dividend • Apr 29
Upcoming dividend of ฿0.062 per share Eligible shareholders must have bought the stock before 06 May 2026. Payment date: 22 May 2026. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of Thai dividend payers (7.5%). Lower than average of industry peers (6.2%). New Risk • Feb 24
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 4.5% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. 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 Risks Interest payments are not well covered by earnings (1.3x net interest cover). Earnings have declined by 34% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (฿829.1m market cap, or US$26.7m). Reported Earnings • Feb 24
Full year 2025 earnings released: EPS: ฿0.10 (vs ฿0.18 loss in FY 2024) Full year 2025 results: EPS: ฿0.10 (up from ฿0.18 loss in FY 2024). Revenue: ฿2.67b (down 1.2% from FY 2024). Net income: ฿61.4m (up ฿167.0m from FY 2024). Profit margin: 2.3% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Bekanntmachung • Feb 21
Phatra Leasing Public Company Limited, Annual General Meeting, Apr 28, 2026 Phatra Leasing Public Company Limited, Annual General Meeting, Apr 28, 2026, at 14:00 SE Asia Standard Time. Bekanntmachung • Jan 23
Phatra Leasing Public Company Limited Announces Board and Committee Changes, Effective February 1, 2026 Phatra Leasing Public Company Limited announced the resignation of the directors as follows: Mr. Arpatsorn Bunnag has the intention to resign from the Company's director, which includes the positions as an independent director, a member of the Audit Committee, and a member of the Remuneration and Nomination Committee, which will take an effect from February 1, 2026, onwards. Mrs. Chantra Purnariksha has the intention to resign from the Company's director, which includes the positions of an independent director and a member of the Remuneration and Nomination Committee, which will take an effect from February 1, 2026, onwards. Approved to appoint Mr. Suthiphon Thaveechaiyagarn to be the Company's director in place of Mrs. In this regard, the Board of Directors' Meeting No. 1/2026, which was held on January 23, 2026, hereby has passed a resolution to approve the appointment of the persons to replace the resigned directors as recommended by the Remuneration and Nomination Committee. Details of which are as follows: Approved to appoint Ms. Jirayong Anuman-Rajadhon to be the Company's director in place of Mr. Arpatsorn Bunnag, which will hold the positions of an independent director and a member of the Audit Committee effectively from February 1, 2026, onwards. Chantra Purnariksha, which will hold the positions of an independent director and a member of the Remuneration and Nomination Committee effectively from February 1, 2026, onwards. Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ฿0.02 (vs ฿0.009 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.02 (up from ฿0.009 in 3Q 2024). Revenue: ฿648.9m (down 5.2% from 3Q 2024). Net income: ฿12.1m (up 124% from 3Q 2024). Profit margin: 1.9% (up from 0.8% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 16
Second quarter 2025 earnings released: EPS: ฿0.05 (vs ฿0.02 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.05 (up from ฿0.02 in 2Q 2024). Revenue: ฿723.9m (up 15% from 2Q 2024). Net income: ฿28.5m (up 148% from 2Q 2024). Profit margin: 3.9% (up from 1.8% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: ฿0.02 (vs ฿0.026 in 1Q 2024) First quarter 2025 results: EPS: ฿0.02 (down from ฿0.026 in 1Q 2024). Revenue: ฿668.7m (up 1.9% from 1Q 2024). Net income: ฿14.4m (down 5.9% from 1Q 2024). Profit margin: 2.2% (down from 2.3% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Bekanntmachung • Apr 25
Phatra Leasing Public Company Limited Approves to Omit Dividend Payment for the Year 2024 Phatra Leasing Public Company Limited in its AGM held on 24 April 2025, approved to omit dividend payment for the year 2024. New Risk • Mar 03
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 6.8% 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 Interest payments are not well covered by earnings (1.2x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 95% Paying a dividend despite having no free cash flows. Earnings have declined by 17% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (฿650.2m market cap, or US$19.0m). Buy Or Sell Opportunity • Mar 03
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 32% to ฿1.09. The fair value is estimated to be ฿1.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.2% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Mar 01
Full year 2024 earnings released: ฿0.18 loss per share (vs ฿0.18 profit in FY 2023) Full year 2024 results: ฿0.18 loss per share (down from ฿0.18 profit in FY 2023). Revenue: ฿2.70b (flat on FY 2023). Net loss: ฿105.5m (down 198% from profit in FY 2023). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ฿1.16, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 13x in the Transportation industry in Thailand. Total loss to shareholders of 51% over the past three years. Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: ฿0.01 (vs ฿0.03 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.01 (down from ฿0.03 in 3Q 2023). Revenue: ฿684.6m (up 2.3% from 3Q 2023). Net income: ฿5.38m (down 64% from 3Q 2023). Profit margin: 0.8% (down from 2.3% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 13% per year. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: ฿0.02 (vs ฿0.05 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.02 (down from ฿0.05 in 2Q 2023). Revenue: ฿630.1m (flat on 2Q 2023). Net income: ฿11.5m (down 59% from 2Q 2023). Profit margin: 1.8% (down from 4.5% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Bekanntmachung • Aug 10
Phatra Leasing Public Company Limited Announces CFO Changes Phatra Leasing Public Company Limited announced termination of Danu Sukhavat as First Senior Vice President Finance and Control Group. Effective Date of Termination is August 09, 2024 and appointed Pipop Kunasol as Acting Head of Finance and Control Group. Effective Date of Appointment August 09, 2024. Reported Earnings • May 16
First quarter 2024 earnings released: EPS: ฿0.03 (vs ฿0.04 in 1Q 2023) First quarter 2024 results: EPS: ฿0.03 (down from ฿0.04 in 1Q 2023). Revenue: ฿656.2m (flat on 1Q 2023). Net income: ฿15.3m (down 43% from 1Q 2023). Profit margin: 2.3% (down from 4.0% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Bekanntmachung • Apr 27
Phatra Leasing Public Company Limited Approves Dividend for the Year 2023, Payable on 21 May 2024 Phatra Leasing Public Company Limited at its AGM, held on April 25, 2024, approved the dividend payment to the shareholders at the rate of THB 0.11 per share from the net profit and the operating results for the year 2023, whereby, the dividend payment shall be made to the shareholders whose names appear on the date on which the recorded shareholders are entitled to receive the dividend on 7 May 2024 (Record Date), and the dividend payment will be made on 21 May 2024. In this regard, the Company is not required to appropriate the net profit as legal reserve for the year 2023 since the Company has appropriated the legal reserve in full according to the law. Declared Dividend • Feb 25
Dividend of ฿0.11 announced Dividend of ฿0.11 is the same as last year. Ex-date: 3rd May 2024 Payment date: 21st May 2024 Dividend yield will be 5.5%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (68% 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 decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 25% to shift the payout ratio to a potentially unsustainable range, which is more than the 14% EPS decline seen over the last 5 years. Reported Earnings • Feb 24
Full year 2023 earnings released: EPS: ฿0.18 (vs ฿0.20 in FY 2022) Full year 2023 results: EPS: ฿0.18 (down from ฿0.20 in FY 2022). Revenue: ฿2.70b (down 9.0% from FY 2022). Net income: ฿107.4m (down 11% from FY 2022). Profit margin: 4.0% (down from 4.1% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Bekanntmachung • Feb 24
Phatra Leasing Public Company Limited, Annual General Meeting, Apr 25, 2024 Phatra Leasing Public Company Limited, Annual General Meeting, Apr 25, 2024, at 14:30 SE Asia Standard Time. Agenda: To consider and approve the report on the operating results for the year 2023; to consider and approve the financial statements of the year 2023; and to discuss other matters. Bekanntmachung • Feb 23
Phatra Leasing Public Company Limited Proposes Cash Dividend for the Operating Period from January 1, 2023 to December 31, 2023, Payable on May 21, 2024 Phatra Leasing Public Company Limited proposed cash dividend of THB 0.11 per share for the Operating period from January 1, 2023 to December 31, 2023. Record date for the right to receive dividends May 7, 2024. Ex-dividend date May 3, 2024. Payable on May 21, 2024. Reported Earnings • Nov 16
Third quarter 2023 earnings released: EPS: ฿0.03 (vs ฿0.05 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.03 (down from ฿0.05 in 3Q 2022). Revenue: ฿669.5m (down 13% from 3Q 2022). Net income: ฿15.1m (down 48% from 3Q 2022). Profit margin: 2.3% (down from 3.8% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: ฿0.05 (vs ฿0.06 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.05 (down from ฿0.06 in 2Q 2022). Revenue: ฿631.2m (down 12% from 2Q 2022). Net income: ฿28.4m (down 19% from 2Q 2022). Profit margin: 4.5% (down from 4.9% in 2Q 2022). The decrease in margin was driven by lower revenue. 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 4% per year. Reported Earnings • May 18
First quarter 2023 earnings released: EPS: ฿0.04 (vs ฿0.05 in 1Q 2022) First quarter 2023 results: EPS: ฿0.04 (down from ฿0.05 in 1Q 2022). Revenue: ฿661.4m (down 12% from 1Q 2022). Net income: ฿26.7m (down 12% from 1Q 2022). Profit margin: 4.0% (in line with 1Q 2022). Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 5% per year. Upcoming Dividend • May 02
Upcoming dividend of ฿0.11 per share at 4.4% yield Eligible shareholders must have bought the stock before 09 May 2023. Payment date: 25 May 2023. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Thai dividend payers (6.2%). In line with average of industry peers (4.1%). Reported Earnings • Nov 18
Third quarter 2022 earnings released: EPS: ฿0.05 (vs ฿0.04 in 3Q 2021) Third quarter 2022 results: EPS: ฿0.05 (up from ฿0.04 in 3Q 2021). Revenue: ฿773.4m (down 4.6% from 3Q 2021). Net income: ฿29.1m (up 30% from 3Q 2021). Profit margin: 3.8% (up from 2.8% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. 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. 1 experienced director. 11 highly experienced directors. Independent Director Suebtrakul Soonthornthum was the last director to join the board, commencing their role in 2016. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 17
Second quarter 2022 earnings released: EPS: ฿0.06 (vs ฿0.06 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.06 (vs ฿0.06 in 2Q 2021). Net income: ฿35.2m (flat on 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Reported Earnings • May 15
First quarter 2022 earnings released: EPS: ฿0.05 (vs ฿0.05 in 1Q 2021) First quarter 2022 results: EPS: ฿0.05 (vs ฿0.05 in 1Q 2021). Revenue: ฿756.9m (down 3.7% from 1Q 2021). Net income: ฿30.2m (up 5.6% from 1Q 2021). Profit margin: 4.0% (up from 3.6% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Apr 27
Upcoming dividend of ฿0.11 per share Eligible shareholders must have bought the stock before 03 May 2022. Payment date: 20 May 2022. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of Thai dividend payers (5.1%). Higher than average of industry peers (3.4%). 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. 1 experienced director. 11 highly experienced directors. Independent Director Suebtrakul Soonthornthum was the last director to join the board, commencing their role in 2016. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 27
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ฿0.20 (up from ฿0.13 in FY 2020). Revenue: ฿3.24b (down 11% from FY 2020). Net income: ฿120.1m (up 58% from FY 2020). Profit margin: 3.7% (up from 2.1% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 33% 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. Bekanntmachung • Feb 26
Phatra Leasing Public Company Limited Proposes Dividend for 2021, Payable on May 20, 2022 Phatra Leasing Public Company Limited proposed to the AGM of shareholders for the year 2022 to consider and approve the dividend payment from the net profit and the operating results of the year 2021 to shareholders at the rate of THB 0.11 per share. The dividend payment will be made on May 20, 2022. Approved to determine the date on which the recorded shareholders are entitled to attend the Annual General Meeting of Shareholders for the Year 2022 (Record Date) to be on March 10, 2022. Bekanntmachung • Feb 25
Phatra Leasing Public Company Limited Appoints Danu Sukhavat as Secretary to the Audit Committee Phatra Leasing Public Company Limited in their board of directors meeting held on February 24, 2022 passed the resolution of appointing Mr. Danu Sukhavat as secretary to the audit committee. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS ฿0.033 (vs ฿0.014 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: ฿810.6m (down 11% from 3Q 2020). Net income: ฿22.4m (up 180% from 3Q 2020). Profit margin: 2.8% (up from 0.9% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS ฿0.033 (vs ฿0.014 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: ฿810.6m (down 11% from 3Q 2020). Net income: ฿22.4m (up 180% from 3Q 2020). Profit margin: 2.8% (up from 0.9% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS ฿0.059 (vs ฿0.03 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: ฿777.5m (down 12% from 2Q 2020). Net income: ฿35.1m (up 122% from 2Q 2020). Profit margin: 4.5% (up from 1.8% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Reported Earnings • May 17
First quarter 2021 earnings released: EPS ฿0.05 (vs ฿0.05 in 1Q 2020) The company reported a mediocre first quarter result with weaker revenues, although earnings were flat and profit margins improved. First quarter 2021 results: Revenue: ฿785.6m (down 14% from 1Q 2020). Net income: ฿28.6m (flat on 1Q 2020). Profit margin: 3.6% (up from 3.1% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Apr 25
Upcoming dividend of ฿0.08 per share Eligible shareholders must have bought the stock before 30 April 2021. Payment date: 20 May 2021. Trailing yield: 3.1%. Lower than top quartile of Thai dividend payers (4.9%). Higher than average of industry peers (1.6%). Is New 90 Day High Low • Mar 10
New 90-day high: ฿2.32 The company is up 9.0% from its price of ฿2.12 on 09 December 2020. The Thai market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Consumer Finance industry, which is up 26% over the same period. Reported Earnings • Feb 26
Full year 2020 earnings released: EPS ฿0.13 (vs ฿0.29 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿3.63b (down 5.4% from FY 2019). Net income: ฿76.1m (down 55% from FY 2019). Profit margin: 2.1% (down from 4.4% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Dec 16
New 90-day high: ฿2.16 The company is up 8.0% from its price of ฿2.00 on 17 September 2020. The Thai market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Finance industry, which is up 25% over the same period. Is New 90 Day High Low • Nov 26
New 90-day high: ฿2.08 The company is up 3.0% from its price of ฿2.02 on 28 August 2020. The Thai market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Finance industry, which is up 17% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS ฿0.01 The company reported a poor third quarter result with weaker earnings and profit margins, although revenues were flat. Third quarter 2020 results: Revenue: ฿912.7m (flat on 3Q 2019). Net income: ฿7.99m (down 83% from 3Q 2019). Profit margin: 0.9% (down from 5.1% in 3Q 2019). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 21% per year and the company’s share price has also fallen by 21% per year.