Buy Or Sell Opportunity • Jul 30
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 10% to ฿1.14. The fair value is estimated to be ฿1.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.5% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jun 10
Now 21% undervalued Over the last 90 days, the stock has risen 13% to ฿1.16. The fair value is estimated to be ฿1.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.5% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • May 25
Now 22% undervalued Over the last 90 days, the stock has risen 3.6% to ฿1.14. The fair value is estimated to be ฿1.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.5% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • May 19
First quarter 2026 earnings released: ฿0.04 loss per share (vs ฿0.072 loss in 1Q 2025) First quarter 2026 results: ฿0.04 loss per share (improved from ฿0.072 loss in 1Q 2025). Revenue: ฿488.2m (down 5.6% from 1Q 2025). Net loss: ฿21.1m (loss narrowed 40% from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 13% per year. Upcoming Dividend • Apr 29
Upcoming dividend of ฿0.04 per share Eligible shareholders must have bought the stock before 06 May 2026. Payment date: 20 May 2026. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Thai dividend payers (7.5%). Lower than average of industry peers (5.6%). Declared Dividend • Feb 21
Dividend reduced to ฿0.04 Dividend of ฿0.04 is 20% lower than last year. Ex-date: 6th May 2026 Payment date: 20th May 2026 Dividend yield will be 3.7%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (15% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Annonce • Feb 20
Lighting and Equipment Public Company Limited announces Annual dividend, payable on May 20, 2026 Lighting and Equipment Public Company Limited announced Annual dividend of THB 0.0400 per share payable on May 20, 2026, ex-date on May 06, 2026 and record date on May 07, 2026. Annonce • Feb 19
Lighting and Equipment Public Company Limited, Annual General Meeting, Apr 23, 2026 Lighting and Equipment Public Company Limited, Annual General Meeting, Apr 23, 2026, at 10:00 SE Asia Standard Time. New Risk • Jan 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 5.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.9x net interest cover). Earnings have declined by 53% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (5.9% average weekly change). Market cap is less than US$100m (฿497.0m market cap, or US$15.8m). Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ฿0.03 (vs ฿0.029 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.03. Revenue: ฿677.6m (down 6.2% from 3Q 2024). Net income: ฿12.9m (down 7.8% from 3Q 2024). Profit margin: 1.9% (in line with 3Q 2024). Reported Earnings • Aug 15
Second quarter 2025 earnings released: ฿0.05 loss per share (vs ฿0.033 loss in 2Q 2024) Second quarter 2025 results: ฿0.05 loss per share (further deteriorated from ฿0.033 loss in 2Q 2024). Revenue: ฿564.3m (down 2.6% from 2Q 2024). Net loss: ฿24.9m (loss widened 55% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. New Risk • Jun 17
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 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.2x net interest cover). Earnings have declined by 51% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (7.8% average weekly change). Market cap is less than US$100m (฿580.6m market cap, or US$17.9m). Reported Earnings • May 09
First quarter 2025 earnings released: ฿0.07 loss per share (vs ฿0.027 loss in 1Q 2024) First quarter 2025 results: ฿0.07 loss per share (further deteriorated from ฿0.027 loss in 1Q 2024). Revenue: ฿517.3m (down 7.0% from 1Q 2024). Net loss: ฿35.3m (loss widened 163% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Apr 29
Upcoming dividend of ฿0.05 per share Eligible shareholders must have bought the stock before 06 May 2025. Payment date: 20 May 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.1%. Lower than top quartile of Thai dividend payers (7.9%). Lower than average of industry peers (6.7%). Annonce • Apr 24
Lighting and Equipment Public Company Limited Approves Dividend for Fiscal Year Ended December 31, 2024, Payable on May 20, 2025 Lighting and Equipment Public Company Limited in its annual general meeting held on April 23, 2025 approved the appropriation of legal reserve and payment of dividends for the fiscal year ended December 31, 2024. The company proposed to pay dividends of THB 0.05 per share to shareholders for the performance of 2024. Total dividends payouts will be THB 24,602,003.70. The dividends will be paid on May 20, 2025. The Record Date which determine the shareholders who are entitled to receive the dividends is on May 7, 2025. Annonce • Feb 20
Lighting and Equipment Public Company Limited announces Annual dividend, payable on May 20, 2025 Lighting and Equipment Public Company Limited announced Annual dividend of THB 0.0500 per share payable on May 20, 2025, ex-date on May 06, 2025 and record date on May 07, 2025. Reported Earnings • Feb 20
Full year 2024 earnings released: EPS: ฿0.03 (vs ฿0.049 loss in FY 2023) Full year 2024 results: EPS: ฿0.03 (up from ฿0.049 loss in FY 2023). Revenue: ฿2.67b (down 3.1% from FY 2023). Net income: ฿15.1m (up ฿39.2m from FY 2023). Profit margin: 0.6% (up from net loss in FY 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Annonce • Feb 19
Lighting and Equipment Public Company Limited, Annual General Meeting, Apr 23, 2025 Lighting and Equipment Public Company Limited, Annual General Meeting, Apr 23, 2025, at 10:00 SE Asia Standard Time. Reported Earnings • Nov 16
Third quarter 2024 earnings released: EPS: ฿0.03 (vs ฿0.007 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.03 (up from ฿0.007 in 3Q 2023). Revenue: ฿722.1m (up 5.4% from 3Q 2023). Net income: ฿14.0m (up 312% from 3Q 2023). Profit margin: 1.9% (up from 0.5% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 15
Second quarter 2024 earnings released: ฿0.03 loss per share (vs ฿0.036 loss in 2Q 2023) Second quarter 2024 results: ฿0.03 loss per share (improved from ฿0.036 loss in 2Q 2023). Revenue: ฿579.4m (down 9.4% from 2Q 2023). Net loss: ฿16.1m (loss narrowed 10% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Reported Earnings • May 09
First quarter 2024 earnings released: ฿0.03 loss per share (vs ฿0.003 loss in 1Q 2023) First quarter 2024 results: ฿0.03 loss per share (further deteriorated from ฿0.003 loss in 1Q 2023). Revenue: ฿556.2m (down 16% from 1Q 2023). Net loss: ฿13.4m (loss widened ฿11.8m from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 52 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Apr 26
Upcoming dividend of ฿0.04 per share Eligible shareholders must have bought the stock before 03 May 2024. Payment date: 20 May 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.5%. Lower than top quartile of Thai dividend payers (5.9%). Lower than average of industry peers (5.2%). Annonce • Apr 26
Lighting and Equipment Public Company Limited Approves Dividend for the Year Ended December 31, 2023, Payable on May 20, 2024 Lighting and Equipment Public Company Limited announced that at its Annual General Meeting of Shareholders 2024 held on April 24, 2024, approved the appropriation of legal reserve and payment of dividends for the fiscal year ended December 31, 2023. The company proposed to pay dividends of THB 0.04 per share to shareholders for the performance of 2023. Total dividends payouts will be THB 19,681,603. The dividends will be paid on May 20, 2024. The Record Date which determine the shareholders who are entitled to receive the dividends is on May 7, 2024. New Risk • Mar 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.7x net interest cover). Earnings have declined by 38% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (6.2% average weekly change). Market cap is less than US$100m (฿649.5m market cap, or US$17.9m). Annonce • Mar 07
Lighting and Equipment Public Company Limited, Annual General Meeting, Apr 24, 2024 Lighting and Equipment Public Company Limited, Annual General Meeting, Apr 24, 2024, at 10:00 SE Asia Standard Time. Agenda: To acknowledge the Board of Directors' report on the Company's Operating Results for the year ending 31 December 2023; to approve Balance Sheet and Profit and Loss Statements for the fiscal period ending 31 December 2023; to consider and approve the allocation of profits from the Company's operations for the fiscal year ended December 31, 2023 and the Dividend payment; and to consider other matters. Reported Earnings • Feb 24
Full year 2023 earnings released: ฿0.05 loss per share (vs ฿0.064 profit in FY 2022) Full year 2023 results: ฿0.05 loss per share (down from ฿0.064 profit in FY 2022). Revenue: ฿2.76b (down 16% from FY 2022). Net loss: ฿24.1m (down 177% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Declared Dividend • Feb 23
Dividend reduced to ฿0.04 Dividend of ฿0.04 is 34% lower than last year. Ex-date: 3rd May 2024 Payment date: 20th May 2024 Dividend yield will be 3.3%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (47% cash payout ratio). The dividend has increased by an average of 23% per year over the past 10 years. However, payments have been volatile during that time. Reported Earnings • Nov 09
Third quarter 2023 earnings released: EPS: ฿0.01 (vs ฿0.028 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.01 (down from ฿0.028 in 3Q 2022). Revenue: ฿685.2m (down 14% from 3Q 2022). Net income: ฿3.40m (down 75% from 3Q 2022). Profit margin: 0.5% (down from 1.7% in 3Q 2022). The decrease in margin was driven by lower revenue. 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 6% per year, which means it has not declined as severely as earnings. New Risk • Aug 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Dividend per share is over 7x cash flows per share. Earnings have declined by 28% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (฿688.9m market cap, or US$19.4m). Reported Earnings • Aug 11
Second quarter 2023 earnings released: ฿0.04 loss per share (vs ฿0.021 profit in 2Q 2022) Second quarter 2023 results: ฿0.04 loss per share (down from ฿0.021 profit in 2Q 2022). Revenue: ฿639.5m (down 24% from 2Q 2022). Net loss: ฿17.9m (down 274% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 37% 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. Upcoming Dividend • Apr 25
Upcoming dividend of ฿0.061 per share at 3.4% yield Eligible shareholders must have bought the stock before 02 May 2023. Payment date: 17 May 2023. Payout ratio is on the higher end at 96% but the company is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of Thai dividend payers (6.0%). In line with average of industry peers (3.6%). Reported Earnings • Feb 24
Full year 2022 earnings released: EPS: ฿0.06 (vs ฿0.089 in FY 2021) Full year 2022 results: EPS: ฿0.06 (down from ฿0.089 in FY 2021). Revenue: ฿3.27b (up 20% from FY 2021). Net income: ฿31.4m (down 28% from FY 2021). Profit margin: 1.0% (down from 1.6% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has remained flat, 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. 7 non-independent directors. Independent Director Supachai Watanangura was the last independent director to join the board, commencing their role in 2009. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 10
Third quarter 2022 earnings released: EPS: ฿0.03 (vs ฿0.02 in 3Q 2021) Third quarter 2022 results: EPS: ฿0.03 (up from ฿0.02 in 3Q 2021). Revenue: ฿796.7m (up 18% from 3Q 2021). Net income: ฿13.6m (up 64% from 3Q 2021). Profit margin: 1.7% (up from 1.2% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improved over the past week After last week's 17% share price gain to ฿2.62, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 19x in the Electrical industry in Thailand. Total returns to shareholders of 29% over the past three years. Reported Earnings • Aug 13
Second quarter 2022 earnings released: EPS: ฿0.021 (vs ฿0.01 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.021 (up from ฿0.01 in 2Q 2021). Revenue: ฿838.7m (up 32% from 2Q 2021). Net income: ฿10.3m (up 120% from 2Q 2021). Profit margin: 1.2% (up from 0.7% in 2Q 2021). The increase in margin was driven by higher revenue. 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 1% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ฿2.38, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 18x in the Electrical industry in Thailand. Total returns to shareholders of 4.1% over the past three years. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improved over the past week After last week's 29% share price gain to ฿2.60, the stock trades at a trailing P/E ratio of 22.7x. Average trailing P/E is 19x in the Electrical industry in Thailand. Total returns to shareholders of 17% over the past three years. Reported Earnings • May 13
First quarter 2022 earnings released: EPS: ฿0.02 (vs ฿0.006 loss in 1Q 2021) First quarter 2022 results: EPS: ฿0.02 (up from ฿0.006 loss in 1Q 2021). Revenue: ฿823.1m (up 46% from 1Q 2021). Net income: ฿9.62m (up ฿12.4m from 1Q 2021). Profit margin: 1.2% (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 34% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. 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. 7 non-independent directors. Independent Director Supachai Watanangura was the last independent director to join the board, commencing their role in 2009. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Feb 25
Lighting and Equipment Public Company Limited, Annual General Meeting, Apr 20, 2022 Lighting and Equipment Public Company Limited, Annual General Meeting, Apr 20, 2022, at 10:00 SE Asia Standard Time. Agenda: To acknowledge the Board of Directors' report on the company's Operating Results for the year ending 31 December 2021; to approve Balance Sheet and Profit and Loss Statements for the fiscal period ending 31 December 2021; to consider declaration of dividend payment from the company's Operating Results for the year ended 31 December 2021 and the dividend payment; to approve the appointment of new directors in place of those retiring by rotation; to approve Directors' remuneration; to approve the appointment of the company's auditor for 2022 and fixing of the auditor's remuneration; and to transact other business. Annonce • Feb 24
Lighting and Equipment Public Company Limited Proposes Dividend for the Year Ended December 31, 2021 Lighting and Equipment Public Company Limited announced that the Company has a policy to pay dividends in the amount of not less than 40% of the net profit according to the separate financial statements after deduction of reserves. From the Operating Results for the year ended 31 December 2021, the Company paid dividend at the rate of Baht 0.085 per share or totaling Baht 41,823,406.29 in which comply with the Dividend Payment Policy of the Company. In this regard, the Company will pay the dividend to shareholders whose names appear on Tuesday 3 May 2022 fixed as the Record Date and will be due to pay dividend on Wednesday 18 May 2022. Reported Earnings • Feb 23
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ฿0.09 (up from ฿0.075 in FY 2020). Revenue: ฿2.72b (up 12% from FY 2020). Net income: ฿43.8m (up 18% from FY 2020). Profit margin: 1.6% (up from 1.5% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. 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 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS ฿0.02 (vs ฿0.04 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿675.8m (down 5.6% from 3Q 2020). Net income: ฿8.34m (down 57% from 3Q 2020). Profit margin: 1.2% (down from 2.7% in 3Q 2020). The decrease in margin was driven by lower revenue. 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 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS ฿0.01 (vs ฿0.013 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿634.8m (up 31% from 2Q 2020). Net income: ฿4.68m (up ฿10.9m from 2Q 2020). Profit margin: 0.7% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. 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 9% per year, which means it has not declined as severely as earnings. Reported Earnings • May 13
First quarter 2021 earnings released: ฿0.01 loss per share (vs ฿0.02 profit in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: ฿562.2m (down 1.4% from 1Q 2020). Net loss: ฿2.81m (down 132% from profit in 1Q 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 11% per year, which means it has not declined as severely as earnings. Annonce • Apr 29
Lighting and Equipment Public Company Limited Approves the Dividend for the Fiscal Year Ended December 31, 2020, Payable on May 21, 2021 Lighting and Equipment Public Company Limited approved the dividend payout of THB 0.075 per share for the fiscal year ended December 31, 2020, at the Annual General Shareholders' Meeting held on April 28, 2021. The date of dividend payment on May 21, 2021. The Company has determined the record date to gather the list of shareholders who are entitled to receive dividend on May 5, 2021. Upcoming Dividend • Apr 25
Upcoming dividend of ฿0.075 per share Eligible shareholders must have bought the stock before 30 April 2021. Payment date: 21 May 2021. Trailing yield: 3.5%. Lower than top quartile of Thai dividend payers (4.9%). In line with average of industry peers (3.8%). Annonce • Feb 24
Lighting and Equipment Public Company Limited, Annual General Meeting, Apr 28, 2021 Lighting and Equipment Public Company Limited, Annual General Meeting, Apr 28, 2021, at 10:00 SE Asia Standard Time. Location: 539/2 Gypsum Metropolitan Tower 16th Floor, Sri-Ayudhaya Road, Rajthevee District Bangkok Thailand Agenda: To acknowledge the Board of Directors' report on the Company's Operating Results for the year ending 31 December 2020; to approve Balance Sheet and Profit and Loss Statements for the fiscal period ending 31 December 2020; to Declaration of dividend payment from the Company's Operating Results for the year ended 31 December 2020 and the dividend payment; to approve the appointment of new directors in place of those retiring by rotation; to approve Directors' remuneration; to approve the appointment of the Company's auditor for 2020 and fixing of the auditor's remuneration; and to discuss Other business (if any). Reported Earnings • Feb 24
Full year 2020 earnings released: EPS ฿0.08 (vs ฿0.15 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿2.42b (down 11% from FY 2019). Net income: ฿37.1m (down 49% from FY 2019). Profit margin: 1.5% (down from 2.7% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 12% per year. Is New 90 Day High Low • Feb 03
New 90-day high: ฿2.26 The company is up 41% from its price of ฿1.60 on 05 November 2020. The Thai market is up 22% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 29% over the same period. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improved over the past week After last week's 17% share price gain to ฿2.20, the stock is trading at a trailing P/E ratio of 14.8x, up from the previous P/E ratio of 12.7x. This compares to an average P/E of 14x in the Electrical industry in Thailand. Total return to shareholders over the past three years is a loss of 13%. Is New 90 Day High Low • Jan 19
New 90-day high: ฿1.84 The company is up 14% from its price of ฿1.62 on 21 October 2020. The Thai market is up 25% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 15% over the same period. Is New 90 Day High Low • Nov 27
New 90-day high: ฿1.80 The company is up 5.0% from its price of ฿1.71 on 28 August 2020. The Thai market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Electrical industry, which is down 8.0% over the same period. Reported Earnings • Nov 11
Third quarter 2020 earnings released: EPS ฿0.04 The company reported a poor third quarter result with weaker earnings and profit margins, although revenues were flat. Third quarter 2020 results: Revenue: ฿716.1m (flat on 3Q 2019). Net income: ฿19.5m (down 16% from 3Q 2019). Profit margin: 2.7% (down from 3.2% in 3Q 2019). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings.