Valuation Update With 7 Day Price Move • May 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ฿6.25, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 14x in the Electronic industry in Thailand. Total loss to shareholders of 31% over the past three years. Anuncio • Apr 21
SVI Public Company Limited Approves Omission of Dividend Payment SVI Public Company Limited at its Annual General Meeting held on April 20, 2026, approved the Omission of Dividend Payment. New Risk • Feb 19
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: 3.3% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (3.9% net profit margin). Reported Earnings • Feb 13
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: ฿0.33 (down from ฿0.64 in FY 2024). Revenue: ฿18.3b (down 17% from FY 2024). Net income: ฿713.0m (down 49% from FY 2024). Profit margin: 3.9% (down from 6.3% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 9.5%. Earnings per share (EPS) exceeded analyst estimates by 10%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 23% 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. Anuncio • Feb 11
SVI Public Company Limited, Annual General Meeting, Apr 10, 2026 SVI Public Company Limited, Annual General Meeting, Apr 10, 2026, at 09:30 SE Asia Standard Time. Reported Earnings • Nov 08
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: ฿0.13 (up from ฿0.08 in 3Q 2024). Revenue: ฿5.19b (down 6.7% from 3Q 2024). Net income: ฿269.7m (up 64% from 3Q 2024). Profit margin: 5.2% (up from 3.0% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 8.2%. Earnings per share (EPS) also surpassed analyst estimates by 63%. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electronic industry in Thailand. 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 9% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿7.15, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Electronic industry in Thailand. Total loss to shareholders of 5.6% over the past three years. Major Estimate Revision • Aug 13
Consensus EPS estimates fall by 22%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from ฿21.0b to ฿21.4b. EPS estimate fell from ฿0.499 to ฿0.391 per share. Net income forecast to grow 35% next year vs 26% growth forecast for Electronic industry in Thailand. Consensus price target broadly unchanged at ฿6.26. Share price fell 3.3% to ฿5.90 over the past week. Reported Earnings • Aug 07
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: ฿0.04 (down from ฿0.27 in 2Q 2024). Revenue: ฿4.35b (down 27% from 2Q 2024). Net income: ฿91.1m (down 84% from 2Q 2024). Profit margin: 2.1% (down from 9.7% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) also missed analyst estimates by 50%. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 20% 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. Price Target Changed • Jun 25
Price target decreased by 12% to ฿6.34 Down from ฿7.17, the current price target is an average from 4 analysts. New target price is 6.5% above last closing price of ฿5.95. Stock is down 34% over the past year. The company is forecast to post earnings per share of ฿0.51 for next year compared to ฿0.64 last year. Price Target Changed • May 13
Price target decreased by 8.2% to ฿7.17 Down from ฿7.81, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ฿7.05. Stock is up 1.4% over the past year. The company is forecast to post earnings per share of ฿0.55 for next year compared to ฿0.64 last year. Reported Earnings • May 09
First quarter 2025 earnings released: EPS: ฿0.07 (vs ฿0.15 in 1Q 2024) First quarter 2025 results: EPS: ฿0.07 (down from ฿0.15 in 1Q 2024). Revenue: ฿4.22b (down 17% from 1Q 2024). Net income: ฿143.4m (down 55% from 1Q 2024). Profit margin: 3.4% (down from 6.3% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Board Change • Apr 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Chairman of the Board Prasert Bunsumpun was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 15
Upcoming dividend of ฿0.24 per share Eligible shareholders must have bought the stock before 22 April 2025. Payment date: 09 May 2025. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Thai dividend payers (8.1%). Higher than average of industry peers (1.3%). Reported Earnings • Feb 11
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: ฿0.64 (up from ฿0.43 in FY 2023). Revenue: ฿21.9b (down 3.4% from FY 2023). Net income: ฿1.39b (up 50% from FY 2023). Profit margin: 6.3% (up from 4.1% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) exceeded analyst estimates by 5.7%. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Declared Dividend • Feb 10
Dividend of ฿0.24 announced Shareholders will receive a dividend of ฿0.24. Ex-date: 22nd April 2025 Payment date: 9th May 2025 Dividend yield will be 3.4%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 18% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Anuncio • Feb 08
SVI Public Company Limited, Annual General Meeting, Apr 11, 2025 SVI Public Company Limited, Annual General Meeting, Apr 11, 2025, at 09:30 W. Europe Standard Time. Board Change • Feb 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. Director Sutee Losoponkul was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Anuncio • Jan 16
SVI Public Company Limited Announces Retirement of Somchai Siripanyanon as President SVI Public Company Limited announced that Mr. Somchai Siripanyanon, the President, has retired from his position. The retirement will be effective from January 1, 2025. Price Target Changed • Dec 04
Price target decreased by 7.4% to ฿8.26 Down from ฿8.92, the current price target is an average from 5 analysts. New target price is 10% above last closing price of ฿7.50. Stock is up 6.4% over the past year. The company is forecast to post earnings per share of ฿0.62 for next year compared to ฿0.43 last year. Reported Earnings • Nov 14
Third quarter 2024 earnings released: EPS: ฿0.08 (vs ฿0.13 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.08 (down from ฿0.13 in 3Q 2023). Revenue: ฿5.59b (flat on 3Q 2023). Net income: ฿164.8m (down 40% from 3Q 2023). Profit margin: 2.9% (down from 4.9% in 3Q 2023). Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 7% per year. Major Estimate Revision • Aug 16
Consensus EPS estimates increase by 14%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from ฿25.1b to ฿24.5b. EPS estimate rose from ฿0.573 to ฿0.651. Net income forecast to grow 3.0% next year vs 16% growth forecast for Electronic industry in Thailand. Consensus price target up from ฿8.30 to ฿9.43. Share price rose 15% to ฿8.25 over the past week. New Risk • Aug 13
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 7.9% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 10
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: ฿0.27 (up from ฿0.13 in 2Q 2023). Revenue: ฿5.99b (up 5.3% from 2Q 2023). Net income: ฿578.3m (up 106% from 2Q 2023). Profit margin: 9.6% (up from 4.9% in 2Q 2023). Revenue exceeded analyst estimates by 6.2%. Earnings per share (EPS) also surpassed analyst estimates by 135%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Jun 15
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from ฿0.52 to ฿0.577. Revenue forecast steady at ฿25.7b. Net income forecast to grow 19% next year vs 17% growth forecast for Electronic industry in Thailand. Consensus price target up from ฿7.38 to ฿8.13. Share price was steady at ฿7.75 over the past week. Price Target Changed • Jun 13
Price target increased by 7.8% to ฿7.60 Up from ฿7.05, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of ฿7.90. Stock is down 9.2% over the past year. The company is forecast to post earnings per share of ฿0.52 for next year compared to ฿0.43 last year. Reported Earnings • May 15
First quarter 2024 earnings released: EPS: ฿0.15 (vs ฿0.07 in 1Q 2023) First quarter 2024 results: EPS: ฿0.15 (up from ฿0.07 in 1Q 2023). Revenue: ฿5.09b (down 17% from 1Q 2023). Net income: ฿317.8m (up 116% from 1Q 2023). Profit margin: 6.2% (up from 2.4% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 13% per year. Upcoming Dividend • Apr 15
Upcoming dividend of ฿0.14 per share Eligible shareholders must have bought the stock before 22 April 2024. Payment date: 09 May 2024. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Thai dividend payers (5.8%). Higher than average of industry peers (1.1%). Anuncio • Apr 11
SVI Public Company Limited Approves Cash Dividend for the Fiscal Year 2023, Payable on May 9, 2024 SVI Public Company Limited at its AGM held on April 11, 2023 approved the allocation of profit and payment of dividend for the operating results of the fiscal year 2023, Cash dividend THB 0.135 per share, paying from the net profit generated under BOI's promoted activities. Ex- dividend(XD) date on April 22, 2024. To fix the record date of shareholders (Record Date) is scheduled on April 23, 2024. Payment of Dividend is scheduled on May 9, 2024. Declared Dividend • Feb 11
Dividend reduced to ฿0.14 Dividend of ฿0.14 is 48% lower than last year. Ex-date: 22nd April 2024 Payment date: 9th May 2024 Dividend yield will be 2.0%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 57% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Anuncio • Feb 07
SVI Public Company Limited, Annual General Meeting, Apr 11, 2024 SVI Public Company Limited, Annual General Meeting, Apr 11, 2024, at 09:30 SE Asia Standard Time. Agenda: To certify the Minutes of the 2023 Annual General Meeting of Shareholders; to acknowledge the Company's operating result of the fiscal year 2023; to consider and approve the Company financial statements for the fiscal year ended December 31, 2023 audited by the auditors; to consider and approve the election of Directors in substitution of retiring Directors; to consider and approve the director remuneration for the year 2024; and to consider other matters. Reported Earnings • Feb 07
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: ฿0.43 (down from ฿0.82 in FY 2022). Revenue: ฿22.8b (down 12% from FY 2022). Net income: ฿924.5m (down 48% from FY 2022). Profit margin: 4.0% (down from 6.8% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 5.5%. Earnings per share (EPS) also missed analyst estimates by 5.5%. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Anuncio • Feb 07
SVI Public Company Limited Proposes Cash Dividend for the Fiscal Year 2023, Payable on May 9, 2024 SVI Public Company Limited announced that at its board meeting held on February 6, 2024, resolved the following: The agendas proposed to the 2024 Annual General Meeting of Shareholders' meeting are as follows: The declaration of dividend will be paid in cash of THB 0.135 per share, for the total amount of THB 290.68 million or equivalent of 31.46% of net profit from the group company's operation and 35.83% of net profit from the company's operation for the fiscal year 2023, details are as follows: Ex-dividend date on April 22, 2024; To fix the record date of shareholders is scheduled on April 23, 2024; Payment of dividend is scheduled on May 9, 2024. Anuncio • Jan 19
Svi Public Company Limited Announces Resignation of Somchai Siripanyanon as Director The Board of Directors of SVI Public Company Limited at its board Meeting held on January 19, 2024 acknowledged the resignation of Mr. Somchai Siripanyanon from director, effective from January 31, 2024, onward. However, Mr. Somchai Siripanyanon still holding the position of a president of the company. Major Estimate Revision • Nov 20
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ฿25.7b to ฿24.0b. EPS estimate also fell from ฿0.53 per share to ฿0.455 per share. Net income forecast to shrink 4.1% next year vs 9.8% growth forecast for Electronic industry in Thailand . Consensus price target down from ฿8.40 to ฿7.10. Share price was steady at ฿7.05 over the past week. Price Target Changed • Nov 15
Price target decreased by 11% to ฿7.83 Down from ฿8.80, the current price target is an average from 4 analysts. New target price is 8.7% above last closing price of ฿7.20. Stock is down 27% over the past year. The company is forecast to post earnings per share of ฿0.45 for next year compared to ฿0.82 last year. Reported Earnings • Nov 14
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: EPS: ฿0.13 (down from ฿0.28 in 3Q 2022). Revenue: ฿5.60b (down 20% from 3Q 2022). Net income: ฿275.0m (down 54% from 3Q 2022). Profit margin: 4.9% (down from 8.5% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 8.8%. Earnings per share (EPS) exceeded analyst estimates by 8.3%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. New Risk • Nov 14
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: 4.9% Last year net profit margin: 7.6% 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: Minor Risks High level of debt (55% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.9% net profit margin). Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: ฿0.13 (vs ฿0.20 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.13 (down from ฿0.20 in 2Q 2022). Revenue: ฿5.72b (down 4.0% from 2Q 2022). Net income: ฿281.0m (down 33% from 2Q 2022). Profit margin: 4.9% (down from 7.1% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Aug 11
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ฿28.6b to ฿26.1b. EPS estimate also fell from ฿0.64 per share to ฿0.57 per share. Net income forecast to shrink 24% next year vs 10% growth forecast for Electronic industry in Thailand . Consensus price target down from ฿8.80 to ฿8.45. Share price fell 2.5% to ฿7.85 over the past week. Reported Earnings • May 17
First quarter 2023 earnings released: EPS: ฿0.07 (vs ฿0.12 in 1Q 2022) First quarter 2023 results: EPS: ฿0.07 (down from ฿0.12 in 1Q 2022). Revenue: ฿6.17b (up 7.9% from 1Q 2022). Net income: ฿147.2m (down 44% from 1Q 2022). Profit margin: 2.4% (down from 4.6% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ฿7.75, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Electronic industry in Thailand. Total returns to shareholders of 198% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿4.45 per share. Major Estimate Revision • May 13
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ฿29.5b to ฿28.9b. EPS estimate also fell from ฿0.777 per share to ฿0.687 per share. Net income forecast to shrink 14% next year vs 11% growth forecast for Electronic industry in Thailand . Consensus price target down from ฿10.50 to ฿9.30. Share price fell 9.2% to ฿8.35 over the past week. Upcoming Dividend • Apr 25
Upcoming dividend of ฿0.26 per share at 2.7% yield Eligible shareholders must have bought the stock before 02 May 2023. Payment date: 16 May 2023. Payout ratio is a comfortable 32% but the company is paying out more than the cash it is generating. Trailing yield: 2.7%. Lower than top quartile of Thai dividend payers (6.0%). Higher than average of industry peers (0.9%). Anuncio • Feb 17
SVI Public Company Limited, Annual General Meeting, Apr 21, 2023 SVI Public Company Limited, Annual General Meeting, Apr 21, 2023, at 02:30 Coordinated Universal Time. Agenda: To consider and approve the Company financial statements for the fiscal year ended December 31, 2022 audited by the auditors; to acknowledge the appointment of Director replacing a vacant Director position; to consider and approve the election of Directors in substitution of retiring Directors; to consider and approve the director remuneration for the year 2023; to consider and approve the appointment of Auditor for the fiscal year 2023 and fix their remuneration; to consider and approve the allocation of profit and payment of dividend for the operating result of the fiscal year 2022; and such other business issues. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improved over the past week After last week's 17% share price gain to ฿11.10, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 20x in the Electronic industry in Thailand. Total returns to shareholders of 250% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿8.52 per share. Major Estimate Revision • Nov 16
Consensus EPS estimates increase by 25% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from ฿25.2b to ฿26.0b. EPS estimate increased from ฿0.56 to ฿0.71 per share. Net income forecast to shrink 11% next year vs 9.8% growth forecast for Electronic industry in Thailand . Consensus price target up from ฿8.05 to ฿9.90. Share price rose 3.7% to ฿9.80 over the past week. Price Target Changed • Nov 10
Price target increased to ฿9.43 Up from ฿8.05, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ฿9.45. Stock is up 30% over the past year. The company posted earnings per share of ฿0.65 last year. Reported Earnings • Nov 08
Third quarter 2022 earnings: EPS exceeds analyst expectations Third quarter 2022 results: EPS: ฿0.28 (up from ฿0.24 in 3Q 2021). Revenue: ฿7.04b (up 60% from 3Q 2021). Net income: ฿598.3m (up 15% from 3Q 2021). Profit margin: 8.5% (down from 12% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 65%. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment improved over the past week After last week's 16% share price gain to ฿8.90, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 19x in the Electronic industry in Thailand. Total returns to shareholders of 212% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿7.03 per share. Reported Earnings • Aug 13
Second quarter 2022 earnings released: EPS: ฿0.20 (vs ฿0.077 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.20 (up from ฿0.077 in 2Q 2021). Revenue: ฿6.06b (up 58% from 2Q 2021). Net income: ฿421.6m (up 155% from 2Q 2021). Profit margin: 7.0% (up from 4.3% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 18%, compared to a 80% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Jul 26
Consensus EPS estimates increase by 10% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from ฿23.8b to ฿24.9b. EPS estimate increased from ฿0.50 to ฿0.55 per share. Net income forecast to shrink 18% next year vs 21% growth forecast for Electronic industry in Thailand . Consensus price target down from ฿8.70 to ฿8.20. Share price rose 8.2% to ฿7.25 over the past week. Price Target Changed • May 15
Price target decreased to ฿8.70 Down from ฿9.93, the current price target is an average from 4 analysts. New target price is 27% above last closing price of ฿6.85. Stock is up 45% over the past year. The company is forecast to post earnings per share of ฿0.50 for next year compared to ฿0.65 last year. Reported Earnings • May 14
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: ฿0.12 (up from ฿0.069 in 1Q 2021). Revenue: ฿5.73b (up 66% from 1Q 2021). Net income: ฿262.0m (up 77% from 1Q 2021). Profit margin: 4.6% (up from 4.3% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates by 34%. Over the next year, revenue is forecast to grow 23%, compared to a 102% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 28
Upcoming dividend of ฿0.23 per share Eligible shareholders must have bought the stock before 05 May 2022. Payment date: 17 May 2022. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of Thai dividend payers (5.1%). Higher than average of industry peers (1.4%). Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improved over the past week After last week's 23% share price gain to ฿8.85, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 19x in the Electronic industry in Thailand. Total returns to shareholders of 177% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿3.59 per share. Price Target Changed • Feb 22
Price target increased to ฿8.75 Up from ฿7.98, the current price target is an average from 4 analysts. New target price is 5.9% below last closing price of ฿9.30. Stock is up 96% over the past year. The company is forecast to post earnings per share of ฿0.59 for next year compared to ฿0.65 last year. Reported Earnings • Feb 18
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: ฿0.65 (up from ฿0.32 in FY 2020). Revenue: ฿17.5b (up 14% from FY 2020). Net income: ฿1.41b (up 105% from FY 2020). Profit margin: 8.1% (up from 4.5% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 34%. Over the next year, revenue is forecast to grow 8.5%, compared to a 85% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 64% share price gain to ฿9.20, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 23x in the Electronic industry in Thailand. Total returns to shareholders of 182% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿4.17 per share. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS ฿0.24 (vs ฿0.12 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿4.43b (up 5.6% from 3Q 2020). Net income: ฿520.5m (up 109% from 3Q 2020). Profit margin: 12% (up from 5.9% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Nov 12
Price target increased to ฿6.54 Up from ฿5.52, the current price target is an average from 4 analysts. New target price is 22% below last closing price of ฿8.35. Stock is up 78% over the past year. The company is forecast to post earnings per share of ฿0.44 for next year compared to ฿0.32 last year. Price Target Changed • Nov 12
Price target increased to ฿6.54 Up from ฿5.52, the current price target is an average from 4 analysts. New target price is 22% below last closing price of ฿8.35. Stock is up 78% over the past year. The company is forecast to post earnings per share of ฿0.44 for next year compared to ฿0.32 last year. Price Target Changed • Oct 15
Price target increased to ฿5.84 Up from ฿5.41, the current price target is an average from 4 analysts. New target price is 9.1% above last closing price of ฿5.35. Stock is up 17% over the past year. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS ฿0.07 (vs ฿0.05 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: ฿3.85b (down 7.8% from 2Q 2020). Net income: ฿165.4m (up 52% from 2Q 2020). Profit margin: 4.3% (up from 2.6% 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 4% per year whereas the company’s share price has fallen by 2% per year. Reported Earnings • May 14
First quarter 2021 earnings released: EPS ฿0.07 (vs ฿0.10 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: ฿3.48b (up 7.6% from 1Q 2020). Net income: ฿148.2m (down 35% from 1Q 2020). Profit margin: 4.3% (down from 7.0% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 4% per year. Upcoming Dividend • Apr 29
Upcoming dividend of ฿0.11 per share Eligible shareholders must have bought the stock before 06 May 2021. Payment date: 17 May 2021. Trailing yield: 2.2%. Lower than top quartile of Thai dividend payers (4.8%). Higher than average of industry peers (1.2%). Major Estimate Revision • Mar 24
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate fell from ฿0.30 to ฿0.27 per share. Revenue forecast steady at ฿17.6b. Net income forecast to shrink 15% next year vs 18% growth forecast for Electronic industry in Thailand . Consensus price target broadly unchanged at ฿5.09. Share price was steady at ฿4.86 over the past week. Analyst Estimate Surprise Post Earnings • Feb 23
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) exceeded analyst estimates by 11%. Over the next year, revenue is forecast to grow 20%, compared to a 8.9% growth forecast for the Electronic industry in Thailand. Reported Earnings • Feb 21
Full year 2020 earnings released: EPS ฿0.32 (vs ฿0.17 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿15.4b (up 1.7% from FY 2019). Net income: ฿686.5m (up 85% from FY 2019). Profit margin: 4.5% (up from 2.5% in FY 2019). Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 5% per year. Executive Departure • Feb 04
CEO, MD & Director Pongsak Lothongkam has left the company On the 4th of February, Pongsak Lothongkam's tenure as CEO, MD & Director of the company ended. We don't have any record of a personal shareholding under Pongsak's name. Pongsak is the only executive to leave the company over the last 12 months. Is New 90 Day High Low • Jan 25
New 90-day high: ฿5.85 The company is up 9.0% from its price of ฿5.35 on 27 October 2020. The Thai market is up 24% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 121% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿1.65 per share. Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment improved over the past week After last week's 15% share price gain to ฿4.94, the stock is trading at a trailing P/E ratio of 17.3x, up from the previous P/E ratio of 15x. This compares to an average P/E of 22x in the Electronic industry in Thailand. Total returns to shareholders over the past three years are 77%. Major Estimate Revision • Nov 18
Analysts update estimates The 2020 consensus revenue estimate was lowered from ฿15.8b to ฿15.6b. Earnings per share (EPS) increased from ฿0.25 to ฿0.33 for the same period. Net income is expected to grow by 4.4% next year compared to 14% growth forecast for the Electronic industry in Thailand. The consensus price target increased from ฿4.38 to ฿4.80. Share price stayed mostly flat at ฿4.58 over the past week. Price Target Changed • Nov 15
Price target raised to ฿4.85 Up from ฿4.38, the current price target is an average from 5 analysts. The new target price is close to the current share price of ฿4.70. As of last close, the stock is down 5.6% over the past year. Analyst Estimate Surprise Post Earnings • Nov 12
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) exceeded analyst estimates by 100%. Over the next year, revenue is forecast to grow 9.0%, compared to a 11% growth forecast for the Electronic industry in Thailand. Reported Earnings • Nov 12
Third quarter 2020 earnings released: EPS ฿0.12 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿4.22b (up 9.8% from 3Q 2019). Net income: ฿249.4m (up 126% from 3Q 2019). Profit margin: 5.9% (up from 2.9% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year and the company’s share price has also increased by 1% per year. Price Target Changed • Oct 28
Price target raised to ฿4.38 Up from ฿3.49, the current price target is an average from 4 analysts. The new target price is 17% below the current share price of ฿5.30. As of last close, the stock is up 17% over the past year. Valuation Update With 7 Day Price Move • Oct 23
Market bids up stock over the past week After last week's 20% share price gain to ฿5.45, the stock is trading at a trailing P/E ratio of 24.8x, up from the previous P/E ratio of 20.8x. This compares to an average P/E of 23x in the Electronic industry in Thailand. Total returns to shareholders over the past three years are 67%. Is New 90 Day High Low • Oct 22
New 90-day high: ฿5.45 The company is up 66% from its price of ฿3.28 on 24 July 2020. The Thai market is down 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 69% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿1.45 per share. Is New 90 Day High Low • Oct 05
New 90-day high: ฿4.20 The company is up 49% from its price of ฿2.82 on 07 July 2020. The Thai market is down 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 98% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿1.40 per share. Price Target Changed • Sep 22
Price target raised to ฿3.49 Up from ฿3.23, the current price target is an average from 5 analysts. The new target price is 10% below the current share price of ฿3.90. As of last close, the stock is down 16% over the past year.