Reported Earnings • Jul 25
First quarter 2027 earnings: EPS and revenues miss analyst expectations First quarter 2027 results: EPS: ฿4.72 (down from ฿4.82 in 1Q 2026). Revenue: ฿2.65b (down 9.5% from 1Q 2026). Net income: ฿361.7m (down 2.2% from 1Q 2026). Profit margin: 14% (up from 13% in 1Q 2026). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 3.8%. Earnings per share (EPS) also missed analyst estimates by 5.6%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 7% per year. Upcoming Dividend • Jul 01
Upcoming dividend of ฿17.00 per share Eligible shareholders must have bought the stock before 08 July 2026. Payment date: 24 July 2026. Payout ratio is on the higher end at 100%, and the cash payout ratio is above 100%. Trailing yield: 9.9%. Within top quartile of Thai dividend payers (7.3%). Higher than average of industry peers (6.7%). New Risk • Jun 17
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 100% Cash payout ratio: 171% Dividend yield: 10% 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. This is currently the only risk that has been identified for the company. Declared Dividend • May 14
Dividend of ฿17.00 announced Shareholders will receive a dividend of ฿17.00. Ex-date: 8th July 2026 Payment date: 24th July 2026 Dividend yield will be 11%, which is higher than the industry average of 8.0%. Sustainability & Growth Dividend is covered by earnings (80% earnings payout ratio) but not covered by cash flows (101% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next 3 years, which should provide adequate earnings cover for the dividend. Annonce • May 12
Thai Stanley Electric Public Company Limited, Annual General Meeting, Jun 29, 2026 Thai Stanley Electric Public Company Limited, Annual General Meeting, Jun 29, 2026, at 13:00 SE Asia Standard Time. Major Estimate Revision • Feb 02
Consensus EPS estimates increase by 10% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from ฿21.30 to ฿23.49. Revenue forecast steady at ฿11.9b. Net income forecast to shrink 6.8% next year vs 6.7% growth forecast for Auto Components industry in Thailand . Consensus price target up from ฿194 to ฿204. Share price was steady at ฿191 over the past week. Reported Earnings • Jan 27
Third quarter 2026 earnings: EPS exceeds analyst expectations Third quarter 2026 results: EPS: ฿6.40 (up from ฿4.05 in 3Q 2025). Revenue: ฿2.92b (flat on 3Q 2025). Net income: ฿490.5m (up 58% from 3Q 2025). Profit margin: 17% (up from 11% in 3Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 21%. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 1% per year. Upcoming Dividend • Nov 03
Upcoming dividend of ฿8.00 per share Eligible shareholders must have bought the stock before 10 November 2025. Payment date: 25 November 2025. Payout ratio is a comfortable 53% and the cash payout ratio is 86%. Trailing yield: 6.2%. Lower than top quartile of Thai dividend payers (7.9%). Lower than average of industry peers (8.0%). Reported Earnings • Oct 28
Second quarter 2026 earnings: EPS exceeds analyst expectations Second quarter 2026 results: EPS: ฿8.05 (up from ฿4.27 in 2Q 2025). Revenue: ฿3.07b (down 4.8% from 2Q 2025). Net income: ฿616.6m (up 89% from 2Q 2025). Profit margin: 20% (up from 10% in 2Q 2025). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.2%. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Price Target Changed • Oct 10
Price target decreased by 7.3% to ฿190 Down from ฿205, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ฿183. Stock is down 16% over the past year. The company is forecast to post earnings per share of ฿20.05 for next year compared to ฿18.11 last year. Reported Earnings • Jul 26
First quarter 2026 earnings released: EPS: ฿4.82 (vs ฿4.02 in 1Q 2025) First quarter 2026 results: EPS: ฿4.82 (up from ฿4.02 in 1Q 2025). Revenue: ฿2.92b (down 2.4% from 1Q 2025). Net income: ฿369.6m (up 20% from 1Q 2025). Profit margin: 13% (up from 10% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 01
Upcoming dividend of ฿12.00 per share Eligible shareholders must have bought the stock before 08 July 2025. Payment date: 25 July 2025. Payout ratio is a comfortable 66% and the cash payout ratio is 82%. Trailing yield: 6.0%. Lower than top quartile of Thai dividend payers (8.6%). Lower than average of industry peers (8.3%). Declared Dividend • Apr 26
Dividend of ฿12.00 announced Shareholders will receive a dividend of ฿12.00. Ex-date: 8th July 2025 Payment date: 25th July 2025 Dividend yield will be 5.4%, which is lower than the industry average of 8.0%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (82% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 23% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Annonce • Apr 25
Thai Stanley Electric Public Company Limited Approves Dividend for the Operating Period from April 1, 2024 to March 31, 2025, Payable on July 25, 2025 Thai Stanley Electric Public Company Limited at its AGM held on April 24, 2025 approved dividend of THB 12.00 per share for the operating period from April 1, 2024 to March 31, 2025. Ex-dividend date is July 8, 2025, Record Date is July 9, 2025 and payment date is July 25, 2025. Reported Earnings • Apr 25
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: ฿18.11 (down from ฿22.93 in FY 2024). Revenue: ฿12.2b (down 15% from FY 2024). Net income: ฿1.39b (down 21% from FY 2024). Profit margin: 11% (in line with FY 2024). Revenue missed analyst estimates by 5.2%. Earnings per share (EPS) also missed analyst estimates by 6.0%. Revenue is forecast to grow 6.0% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Annonce • Apr 25
Thai Stanley Electric Public Company Limited, Annual General Meeting, Jun 26, 2025 Thai Stanley Electric Public Company Limited, Annual General Meeting, Jun 26, 2025, at 13:00 SE Asia Standard Time. Location: pcl, Thailand Price Target Changed • Jan 27
Price target decreased by 7.2% to ฿200 Down from ฿216, the current price target is an average from 5 analysts. New target price is 8.5% below last closing price of ฿219. Stock is down 0.9% over the past year. The company is forecast to post earnings per share of ฿19.28 for next year compared to ฿22.93 last year. Reported Earnings • Jan 25
Third quarter 2025 earnings released: EPS: ฿4.05 (vs ฿5.78 in 3Q 2024) Third quarter 2025 results: EPS: ฿4.05 (down from ฿5.78 in 3Q 2024). Revenue: ฿2.95b (down 18% from 3Q 2024). Net income: ฿310.4m (down 30% from 3Q 2024). Profit margin: 11% (down from 12% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Auto Components industry in Thailand. 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. Major Estimate Revision • Nov 04
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from ฿19.75 to ฿22.00. Revenue forecast unchanged at ฿13.9b. Net income forecast to grow 6.8% next year vs 2.2% growth forecast for Auto Components industry in Thailand. Consensus price target of ฿205 unchanged from last update. Share price was steady at ฿218 over the past week. Reported Earnings • Oct 31
Second quarter 2025 earnings released: EPS: ฿4.27 (vs ฿6.47 in 2Q 2024) Second quarter 2025 results: EPS: ฿4.27 (down from ฿6.47 in 2Q 2024). Revenue: ฿3.23b (down 14% from 2Q 2024). Net income: ฿327.2m (down 34% from 2Q 2024). Profit margin: 10% (down from 13% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 7.9% growth forecast for the Auto Components industry in Thailand. 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 7% per year. New Risk • Oct 30
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.4% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Jul 27
First quarter 2025 earnings: EPS exceeds analyst expectations First quarter 2025 results: EPS: ฿4.02 (down from ฿4.11 in 1Q 2024). Revenue: ฿3.00b (down 9.4% from 1Q 2024). Net income: ฿307.8m (down 2.3% from 1Q 2024). Profit margin: 10% (in line with 1Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 15%. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 7% per year. Upcoming Dividend • Jul 04
Upcoming dividend of ฿20.00 per share Eligible shareholders must have bought the stock before 11 July 2024. Payment date: 26 July 2024. Payout ratio is on the higher end at 87%, however this is supported by cash flows. Trailing yield: 9.1%. Within top quartile of Thai dividend payers (6.5%). Higher than average of industry peers (6.4%). Price Target Changed • Jun 19
Price target decreased by 7.9% to ฿219 Down from ฿238, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ฿218. Stock is up 0.5% over the past year. The company is forecast to post earnings per share of ฿22.29 for next year compared to ฿22.93 last year. Buy Or Sell Opportunity • May 23
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.7% to ฿216. The fair value is estimated to be ฿278, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.1% over the last 3 years. Earnings per share has grown by 9.0%. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to grow by 14% in the next 2 years. Annonce • May 19
Thai Stanley Electric Public Company Limited, Annual General Meeting, Jul 05, 2024 Thai Stanley Electric Public Company Limited, Annual General Meeting, Jul 05, 2024, at 15:00 SE Asia Standard Time. Location: stanley electric public company limited, Thailand Reported Earnings • May 18
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ฿22.93 (up from ฿22.78 in FY 2023). Revenue: ฿14.4b (flat on FY 2023). Net income: ฿1.76b (flat on FY 2023). Profit margin: 12% (in line with FY 2023). Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates by 3.3%. Revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 6% per year. Annonce • May 18
Thai Stanley Electric Public Company Limited Proposes Dividend for Operating Period April 1, 2023 to March 31, 2024, Payable on June 26, 2024 Thai Stanley Electric Public Company Limited announced at the AGM to be held on June 5, 2024, proposed to pay dividend at THB 20 per share which is 94.04% of net profit after deduction of income tax for Operating Period April 1, 2023 to March 31, 2024, in special occasion (Dividend rate at THB 10 per share (equivalent to 47.02%) is paid from the fiscal year 2023 operating result and dividend rate at THB 10 per share (equivalent to 47.02%) due to the company officially joining in Stanley global network as one Stanley (Consolidation). Record date is July 12, 2024. Payment date is July 26, 2024. Ex-dividend date is July 11, 2024. Reported Earnings • Feb 09
Third quarter 2024 earnings: EPS exceeds analyst expectations Third quarter 2024 results: EPS: ฿5.78 (up from ฿4.91 in 3Q 2023). Revenue: ฿3.61b (flat on 3Q 2023). Net income: ฿443.0m (up 18% from 3Q 2023). Profit margin: 12% (up from 10% in 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.6%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jan 22
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 28% to ฿222. The fair value is estimated to be ฿178, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.3% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 19% in the next 2 years. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ฿232, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Auto Components industry in Thailand. Total returns to shareholders of 68% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿177 per share. New Risk • Oct 31
New major risk - Revenue and earnings growth Earnings have declined by 3.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 3.6% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Oct 29
Second quarter 2024 earnings released: EPS: ฿6.47 (vs ฿6.35 in 2Q 2023) Second quarter 2024 results: EPS: ฿6.47 (up from ฿6.35 in 2Q 2023). Revenue: ฿3.75b (up 5.5% from 2Q 2023). Net income: ฿495.5m (up 1.8% from 2Q 2023). Profit margin: 13% (in line with 2Q 2023). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Price Target Changed • Sep 06
Price target increased by 7.2% to ฿241 Up from ฿225, the current price target is an average from 3 analysts. New target price is 27% above last closing price of ฿190. Stock is up 9.9% over the past year. The company is forecast to post earnings per share of ฿23.70 for next year compared to ฿22.78 last year. Reported Earnings • Aug 04
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: ฿4.11 (down from ฿4.14 in 1Q 2023). Revenue: ฿3.31b (flat on 1Q 2023). Net income: ฿314.9m (flat on 1Q 2023). Profit margin: 9.5% (in line with 1Q 2023). Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) also missed analyst estimates by 7.0%. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 9% per year. Annonce • Jun 27
Thai Stanley Electric Public Company Limited Approves Dividend for the Period from 1 April 2022 to 31 March 2023, Payable on 21 July 2023 Thai Stanley Electric Public Company Limited announced that at the AGM was held on June 23, 2023, the company approved the dividend payment for the period from 1 April 2022 to 31 March 2023 at THB 20 per share, with take from net profit-non BOI business operations, the record date for the shareholders for the right to receive such dividend will be 5 July 2023. The dividend payment will be paid on 21 July 2023. Upcoming Dividend • Jun 27
Upcoming dividend of ฿20.00 per share at 9.4% yield Eligible shareholders must have bought the stock before 04 July 2023. Payment date: 21 July 2023. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 9.4%. Within top quartile of Thai dividend payers (6.6%). Higher than average of industry peers (8.0%). Annonce • May 23
Thai Stanley Electric Public Company Limited, Annual General Meeting, Jun 23, 2023 Thai Stanley Electric Public Company Limited, Annual General Meeting, Jun 23, 2023, at 15:00 SE Asia Standard Time. Agenda: To certify the minutes of the Annual general Meeting of Shareholders No. 1/2022; to acknowledge the report on the Company's operating results in respect of the previous year; and to consider other matters if any. Reported Earnings • May 23
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: ฿22.78 (up from ฿19.85 in FY 2022). Revenue: ฿14.4b (up 6.4% from FY 2022). Net income: ฿1.75b (up 15% from FY 2022). Profit margin: 12% (in line with FY 2022). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 7.1%. Revenue is forecast to grow 5.3% p.a. on average during the next 2 years, compared to a 4.7% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Annonce • May 22
Thai Stanley Electric Public Company Limited Proposes Dividend, Payable on July 21, 2023 Thai Stanley Electric Public Company Limited proposed to approve pay dividend at THB 20.00 per share, which is 93.74% of net profit after deduction of income tax (financial statement in which the company only) with take from net profit - Non BOI, total dividend amount THB 1,532,500,000. The record date of the shareholders for the right to receive such dividend will be on July 5, 2023 and the remaining annual dividend payment will be paid on July 21, 2023. Reported Earnings • Jan 29
Third quarter 2023 earnings released: EPS: ฿4.91 (vs ฿5.18 in 3Q 2022) Third quarter 2023 results: EPS: ฿4.91 (down from ฿5.18 in 3Q 2022). Revenue: ฿3.60b (up 2.6% from 3Q 2022). Net income: ฿376.3m (down 5.2% from 3Q 2022). Profit margin: 10% (in line with 3Q 2022). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Director Picharn Sukparangsee was the last independent director to join the board, commencing their role in 2010. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 29
Second quarter 2023 earnings released: EPS: ฿6.35 (vs ฿3.49 in 2Q 2022) Second quarter 2023 results: EPS: ฿6.35 (up from ฿3.49 in 2Q 2022). Revenue: ฿3.55b (up 18% from 2Q 2022). Net income: ฿486.7m (up 82% from 2Q 2022). Profit margin: 14% (up from 8.9% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Price Target Changed • Aug 08
Price target decreased to ฿205 Down from ฿223, the current price target is an average from 3 analysts. New target price is 21% above last closing price of ฿170. The company is forecast to post earnings per share of ฿18.79 for next year compared to ฿19.85 last year. Reported Earnings • Aug 07
First quarter 2023 earnings: EPS exceeds analyst expectations First quarter 2023 results: EPS: ฿4.14 (down from ฿5.01 in 1Q 2022). Revenue: ฿3.28b (up 2.0% from 1Q 2022). Net income: ฿317.4m (down 17% from 1Q 2022). Profit margin: 9.7% (down from 12% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 438%. Over the next year, revenue is forecast to grow 5.6%, compared to a 3.3% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 6% per year. Price Target Changed • Jul 15
Price target decreased to ฿223 Down from ฿246, the current price target is an average from 3 analysts. New target price is 34% above last closing price of ฿167. Stock is down 4.6% over the past year. The company is forecast to post earnings per share of ฿21.22 for next year compared to ฿19.85 last year. Upcoming Dividend • Jul 04
Upcoming dividend of ฿8.50 per share Eligible shareholders must have bought the stock before 11 July 2022. Payment date: 27 July 2022. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of Thai dividend payers (5.4%). Lower than average of industry peers (9.3%). Reported Earnings • May 22
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: ฿19.85 (up from ฿13.85 in FY 2021). Revenue: ฿13.6b (up 16% from FY 2021). Net income: ฿1.52b (up 43% from FY 2021). Profit margin: 11% (up from 9.0% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) exceeded analyst estimates by 3.7%. Over the next year, revenue is forecast to grow 12%, compared to a 1.5% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 9% per year. Price Target Changed • Apr 27
Price target increased to ฿246 Up from ฿225, the current price target is an average from 3 analysts. New target price is 45% above last closing price of ฿170. Stock is down 5.8% over the past year. The company is forecast to post earnings per share of ฿19.15 for next year compared to ฿13.85 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Director Picharn Sukparangsee was the last independent director to join the board, commencing their role in 2010. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Feb 17
Price target increased to ฿246 Up from ฿225, the current price target is an average from 3 analysts. New target price is 27% above last closing price of ฿195. Stock is up 4.0% over the past year. The company is forecast to post earnings per share of ฿19.15 for next year compared to ฿13.85 last year. Reported Earnings • Feb 03
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: ฿5.18 (down from ฿5.62 in 3Q 2021). Revenue: ฿3.51b (down 3.7% from 3Q 2021). Net income: ฿396.7m (down 7.8% from 3Q 2021). Profit margin: 11% (in line with 3Q 2021). Revenue missed analyst estimates by 4.6%. Earnings per share (EPS) exceeded analyst estimates by 398%. Over the next year, revenue is forecast to grow 7.5% while the industry in Thailand is not expected to grow. 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 7% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 03
Second quarter 2022 earnings released: EPS ฿3.49 (vs ฿3.32 in 2Q 2021) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2022 results: Revenue: ฿3.02b (up 19% from 2Q 2021). Net income: ฿267.1m (up 5.1% from 2Q 2021). Profit margin: 8.9% (down from 10.0% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 10% per year. Executive Departure • Aug 04
Secretary Sudjai Srifuengfung has left the company On the 1st of August, Sudjai Srifuengfung's tenure as Secretary ended after 13.1 years in the role. We don't have any record of a personal shareholding under Sudjai's name. Sudjai is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 1.08 years, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • Jul 31
First quarter 2022 earnings released: EPS ฿5.00 (vs ฿2.40 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ฿3.22b (up 87% from 1Q 2021). Net income: ฿383.5m (up ฿567.5m from 1Q 2021). Profit margin: 12% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 16% per year. Upcoming Dividend • Jul 05
Upcoming dividend of ฿5.50 per share Eligible shareholders must have bought the stock before 12 July 2021. Payment date: 29 July 2021. Trailing yield: 3.0%. Lower than top quartile of Thai dividend payers (4.7%). Lower than average of industry peers (6.5%). Price Target Changed • Jun 02
Price target increased to ฿225 Up from ฿200, the current price target is an average from 2 analysts. New target price is 24% above last closing price of ฿182. Stock is up 17% over the past year. Major Estimate Revision • May 21
Consensus EPS estimates increase to ฿20.63 The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from ฿13.7b to ฿15.0b. EPS estimate increased from ฿18.30 to ฿20.63 per share. Net income forecast to grow 50% next year vs 45% growth forecast for Auto Components industry in Thailand. Consensus price target up from ฿200 to ฿210. Share price was steady at ฿179 over the past week. Reported Earnings • May 16
Full year 2021 earnings released: EPS ฿13.85 (vs ฿26.07 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: ฿11.7b (down 23% from FY 2020). Net income: ฿1.06b (down 47% from FY 2020). Profit margin: 9.0% (down from 13% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 10% per year. Price Target Changed • Apr 17
Price target increased to ฿200 Up from ฿183, the current price target is an average from 3 analysts. New target price is 13% above last closing price of ฿177. Stock is up 39% over the past year. Reported Earnings • Jan 30
Third quarter 2021 earnings released: EPS ฿5.62 (vs ฿6.03 in 3Q 2020) The company reported a poor third quarter result with weaker earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: ฿3.65b (down 1.6% from 3Q 2020). Net income: ฿430.4m (down 6.8% from 3Q 2020). Profit margin: 12% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 8% per year. Is New 90 Day High Low • Jan 26
New 90-day high: ฿171 The company is up 19% from its price of ฿144 on 28 October 2020. The Thai market is up 25% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Auto Components industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿223 per share. Is New 90 Day High Low • Jan 04
New 90-day high: ฿170 The company is up 16% from its price of ฿147 on 06 October 2020. The Thai market is up 17% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Auto Components industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿182 per share. Is New 90 Day High Low • Dec 14
New 90-day high: ฿168 The company is up 15% from its price of ฿146 on 15 September 2020. The Thai market is up 17% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Auto Components industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿183 per share. Reported Earnings • Nov 01
First half earnings released Over the last 12 months the company has reported total profits of ฿1.13b, down 44% from the prior year. Total revenue was ฿11.9b over the last 12 months, down 22% from the prior year. Is New 90 Day High Low • Oct 28
New 90-day low: ฿144 The company is down 11% from its price of ฿162 on 30 July 2020. The Thai market is down 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿253 per share.