Reported Earnings • May 17
First quarter 2026 earnings released: EPS: ฿0.09 (vs ฿0.08 in 1Q 2025) First quarter 2026 results: EPS: ฿0.09 (up from ฿0.08 in 1Q 2025). Revenue: ฿4.21b (down 5.7% from 1Q 2025). Net income: ฿44.4m (up 15% from 1Q 2025). Profit margin: 1.1% (up from 0.9% in 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 6% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 30
Upcoming dividend of ฿0.30 per share Eligible shareholders must have bought the stock before 07 May 2026. Payment date: 22 May 2026. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 7.9%. Within top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (5.5%). New Risk • Mar 05
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 107% Cash payout ratio: 115% Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (฿1.92b market cap, or US$60.7m). Anuncio • Feb 27
WP Energy Public Company Limited Proposes Cash Dividend for the Operating Period from 01 January, 2025 to 31 December, 2025, Payable on 22 May, 2026 WP Energy Public Company Limited Board of Directors considered and deemed it appropriate to propose to the 2026 Annual General Meeting of Shareholders to be held on 23 April, 2026 the allocation of net profits for the year 2025 as a legal reserve, and the payment of dividends for the Company's performance in 2025 at the rate of THB 0.30 per share. Record date for the right to receive dividends: 08 May, 2026; Ex-dividend date is 7 May, 2026; Payment date is 22 May, 2026; Paid from Operating period from 01 January, 2025 to 31 December, 2025 and Retained Earnings. Reported Earnings • Feb 26
Full year 2025 earnings released: EPS: ฿0.30 (vs ฿0.28 in FY 2024) Full year 2025 results: EPS: ฿0.30 (up from ฿0.28 in FY 2024). Revenue: ฿17.3b (down 8.0% from FY 2024). Net income: ฿154.2m (up 7.3% from FY 2024). Profit margin: 0.9% (in line with FY 2024). 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 5% per year, which means it is significantly lagging earnings. Anuncio • Feb 25
WP Energy Public Company Limited, Annual General Meeting, Apr 23, 2026 WP Energy Public Company Limited, Annual General Meeting, Apr 23, 2026, at 10:00 SE Asia Standard Time. Reported Earnings • Nov 06
Third quarter 2025 earnings released: EPS: ฿0.08 (vs ฿0.07 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.08 (up from ฿0.07 in 3Q 2024). Revenue: ฿4.31b (down 10% from 3Q 2024). Net income: ฿38.4m (up 1.7% from 3Q 2024). Profit margin: 0.9% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 08
Second quarter 2025 earnings released: EPS: ฿0.06 (vs ฿0.07 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.06 (down from ฿0.07 in 2Q 2024). Revenue: ฿4.18b (down 7.0% from 2Q 2024). Net income: ฿31.7m (down 14% from 2Q 2024). Profit margin: 0.8% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • May 09
First quarter 2025 earnings released: EPS: ฿0.08 (vs ฿0.06 in 1Q 2024) First quarter 2025 results: EPS: ฿0.08 (up from ฿0.06 in 1Q 2024). Revenue: ฿4.46b (down 6.6% from 1Q 2024). Net income: ฿38.7m (up 19% from 1Q 2024). Profit margin: 0.9% (up from 0.7% in 1Q 2024). The increase in margin was driven by lower expenses. 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 10% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 29
Upcoming dividend of ฿0.30 per share Eligible shareholders must have bought the stock before 06 May 2025. Payment date: 21 May 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 8.7%. Within top quartile of Thai dividend payers (7.9%). Higher than average of industry peers (7.3%). Anuncio • Apr 02
WP Energy Public Company Limited Announces Resignation of Mrs. Lakananan Laksamitananan as Independent Director and Audit Committee, Effective 31 March, 2025 WP Energy Public Company Limited announced resignation of Mrs. Lakananan Laksamitananan as Independent Director and Audit Committee. Expire Date is 31 March, 2025. Terminate Reason: Resigned from position /the company due to Due to numerous personal engagements, the director is unable to dedicate sufficient time to fulfilling duties as a company director, including serving on various company committees. The Company will hold a Board of Nomination and Remuneration Committee for consideration the qualifications of the person to be appointed as Audit Director and present to the Board of Directors to consider and approve which will be informed later on. Declared Dividend • Mar 24
Dividend increased to ฿0.30 Dividend of ฿0.30 is 7.1% higher than last year. Ex-date: 6th May 2025 Payment date: 21st May 2025 Dividend yield will be 8.9%, which is higher than the industry average of 5.3%. Sustainability & Growth Dividend is not covered by earnings (103% earnings payout ratio) nor is it covered by cash flows (178% cash payout ratio). The dividend has decreased over the past 56 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 14% to bring the payout ratio under control. However, EPS has declined by 13% over the last 5 years so the company would need to reverse this trend. Buy Or Sell Opportunity • Mar 06
Now 20% overvalued Over the last 90 days, the stock has fallen 7.4% to ฿3.24. The fair value is estimated to be ฿2.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 11%. Reported Earnings • Feb 20
Full year 2024 earnings released: EPS: ฿0.28 (vs ฿0.24 in FY 2023) Full year 2024 results: EPS: ฿0.28 (up from ฿0.24 in FY 2023). Revenue: ฿18.8b (up 4.7% from FY 2023). Net income: ฿143.7m (up 15% from FY 2023). Profit margin: 0.8% (up from 0.7% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Feb 19
Now 22% overvalued Over the last 90 days, the stock has fallen 12% to ฿3.20. The fair value is estimated to be ฿2.63, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 7.0%. New Risk • Nov 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 103% Cash payout ratio: 267% Earnings have declined by 20% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (฿1.80b market cap, or US$51.4m). Reported Earnings • Nov 12
Third quarter 2024 earnings released: EPS: ฿0.07 (vs ฿0.048 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.07 (up from ฿0.048 in 3Q 2023). Revenue: ฿4.80b (up 7.9% from 3Q 2023). Net income: ฿37.8m (up 52% from 3Q 2023). Profit margin: 0.8% (up from 0.6% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. New Risk • Aug 13
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 23% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 22% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (115% payout ratio). Large one-off items impacting financial results. Market cap is less than US$100m (฿1.77b market cap, or US$50.2m). Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: ฿0.07 (vs ฿0.05 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.07 (up from ฿0.05 in 2Q 2023). Revenue: ฿4.49b (up 3.3% from 2Q 2023). Net income: ฿36.7m (up 38% from 2Q 2023). Profit margin: 0.8% (up from 0.6% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Reported Earnings • May 10
First quarter 2024 earnings released: EPS: ฿0.06 (vs ฿0.081 in 1Q 2023) First quarter 2024 results: EPS: ฿0.06 (down from ฿0.081 in 1Q 2023). Revenue: ฿4.78b (up 7.5% from 1Q 2023). Net income: ฿32.6m (down 17% from 1Q 2023). Profit margin: 0.7% (down from 0.9% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 7% per year and the company’s share price has also fallen by 7% per year. Declared Dividend • Mar 23
Dividend increased to ฿0.28 Dividend of ฿0.28 is 12% higher than last year. Ex-date: 3rd May 2024 Payment date: 21st May 2024 Dividend yield will be 6.5%, which is higher than the industry average of 5.3%. Sustainability & Growth Dividend is not covered by earnings (129% earnings payout ratio) nor is it covered by cash flows (213% cash payout ratio). The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 43% to bring the payout ratio under control. However, EPS has declined by 17% over the last 5 years so the company would need to reverse this trend. Anuncio • Mar 22
WP Energy Public Company Limited, Annual General Meeting, Apr 23, 2024 WP Energy Public Company Limited, Annual General Meeting, Apr 23, 2024, at 14:00 SE Asia Standard Time. Agenda: To certify the minute annual general meeting of shareholders for the year 2023 held on 25 April 2023; to acknowledge the operational result of the Company for the year 2023; to consider and approve the financial statements ending 31 December 2023; to consider and approve the reservation of the net profit for the year 2023 as legal reserve, and declaration of dividend for the operational result for the year 2023; and to consider other matters. New Risk • Feb 26
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 129% Cash payout ratio: 213% Earnings have declined by 26% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (฿1.97b market cap, or US$54.9m). Reported Earnings • Feb 23
Full year 2023 earnings released: EPS: ฿0.24 (vs ฿0.23 in FY 2022) Full year 2023 results: EPS: ฿0.24 (up from ฿0.23 in FY 2022). Revenue: ฿17.9b (up 17% from FY 2022). Net income: ฿125.5m (up 5.3% from FY 2022). Profit margin: 0.7% (down from 0.8% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 11% 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. Reported Earnings • Nov 11
Third quarter 2023 earnings released: EPS: ฿0.05 (vs ฿0.09 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.05 (down from ฿0.09 in 3Q 2022). Revenue: ฿4.44b (up 9.9% from 3Q 2022). Net income: ฿24.8m (down 46% from 3Q 2022). Profit margin: 0.6% (down from 1.1% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. New Risk • Sep 30
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 104% The company is paying a dividend despite having no free cash flows. Dividend yield: 6.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 104% Paying a dividend despite having no free cash flows. Earnings have declined by 22% per year over the past 5 years. High level of non-cash earnings (50% accrual ratio). Minor Risk Market cap is less than US$100m (฿1.93b market cap, or US$52.7m). Board Change • Sep 30
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. 6 highly experienced directors. Director Kasemsit Pathomsak was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Anuncio • Sep 23
WP Energy Public Company Limited (SET:WP) announces an Equity Buyback for 15,555,000 shares, representing 3% for THB 60 million. WP Energy Public Company Limited (SET:WP) announces a share repurchase program. Under the program, the company will repurchase up to 15,555,000 shares, representing 3% of its issued share capital, for total worth of THB 60 million. The purpose of the share repurchases is to maximize benefit from the company’s excess liquidity and to enhance the return on equity and company’s earnings per share. The share repurchase program will result in the decrease of the company’s cash and shareholders’ equity. The program is valid till April 8, 2024. As of April 5, 2023, the company had 518,500,000 shares are issued and outstanding. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: ฿0.09 (vs ฿0.03 in 3Q 2021) Third quarter 2022 results: EPS: ฿0.09 (up from ฿0.03 in 3Q 2021). Revenue: ฿4.04b (up 44% from 3Q 2021). Net income: ฿46.2m (up 217% from 3Q 2021). Profit margin: 1.1% (up from 0.5% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is expected to fall by 2.6% p.a. on average during the next 3 years compared to a 5.7% decline forecast for the Oil and Gas industry in Thailand. 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 3% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: ฿0.084 (vs ฿0.052 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.084 (up from ฿0.052 in 2Q 2021). Revenue: ฿3.48b (up 28% from 2Q 2021). Net income: ฿43.6m (up 61% from 2Q 2021). Profit margin: 1.3% (up from 1.0% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 41% 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 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: ฿0.04 (down from ฿0.064 in 1Q 2021). Revenue: ฿3.28b (up 17% from 1Q 2021). Net income: ฿20.5m (down 38% from 1Q 2021). Profit margin: 0.6% (down from 1.2% in 1Q 2021). Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 14%. Over the next year, revenue is expected to shrink by 1.3% compared to a 6.3% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 39% 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. Upcoming Dividend • May 05
Upcoming dividend of ฿0.15 per share Eligible shareholders must have bought the stock before 12 May 2022. Payment date: 27 May 2022. Payout ratio is on the higher end at 78%, however this is supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Thai dividend payers (5.2%). Lower than average of industry peers (4.8%). Reported Earnings • Feb 28
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: ฿0.19 (down from ฿0.33 in FY 2020). Revenue: ฿11.5b (down 2.8% from FY 2020). Net income: ฿98.8m (down 42% from FY 2020). Profit margin: 0.9% (down from 1.4% in FY 2020). Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 14%. Over the next year, revenue is forecast to grow 2.1%, compared to a 9.0% growth forecast for the oil industry in Thailand. 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 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS ฿0.026 (vs ฿0.12 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿2.94b (down 2.3% from 3Q 2020). Net income: ฿14.5m (down 77% from 3Q 2020). Profit margin: 0.5% (down from 2.1% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS ฿0.052 (vs ฿0.033 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿2.70b (up 7.8% from 2Q 2020). Net income: ฿27.1m (up 57% from 2Q 2020). Profit margin: 1.0% (up from 0.7% 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 17% 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. Valuation Update With 7 Day Price Move • Aug 10
Investor sentiment improved over the past week After last week's 30% share price gain to ฿6.35, the stock trades at a trailing P/E ratio of 20x. Average trailing P/E is 14x in the Oil and Gas industry in Thailand. Total loss to shareholders of 6.0% over the past three years. Upcoming Dividend • May 05
Upcoming dividend of ฿0.20 per share Eligible shareholders must have bought the stock before 12 May 2021. Payment date: 28 May 2021. Trailing yield: 3.8%. Lower than top quartile of Thai dividend payers (4.8%). Higher than average of industry peers (2.6%). Is New 90 Day High Low • Dec 15
New 90-day low: ฿4.18 The company is down 12% from its price of ฿4.74 on 15 September 2020. The Thai market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is up 26% over the same period. Reported Earnings • Nov 13
Third quarter 2020 earnings released: EPS ฿0.12 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿3.01b (down 18% from 3Q 2019). Net income: ฿62.8m (down 54% from 3Q 2019). Profit margin: 2.1% (down from 3.7% in 3Q 2019). The decrease in margin was driven by lower revenue.