Reported Earnings • May 15
First quarter 2026 earnings released: EPS: ฿0.30 (vs ฿0.29 in 1Q 2025) First quarter 2026 results: EPS: ฿0.30 (up from ฿0.29 in 1Q 2025). Revenue: ฿769.2m (down 9.0% from 1Q 2025). Net income: ฿103.0m (flat on 1Q 2025). Profit margin: 13% (up from 12% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Luxury industry in Asia. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • Apr 23
Upcoming dividend of ฿0.60 per share Eligible shareholders must have bought the stock before 30 April 2026. Payment date: 19 May 2026. Payout ratio is on the higher end at 100%, however this is supported by cash flows. Trailing yield: 7.6%. Within top quartile of Thai dividend payers (7.5%). In line with average of industry peers (7.3%). Declared Dividend • Feb 21
Dividend reduced to ฿0.60 Dividend of ฿0.60 is 7.7% lower than last year. Ex-date: 30th April 2026 Payment date: 19th May 2026 Dividend yield will be 6.9%, which is higher than the industry average of 3.9%. Sustainability & Growth Dividend is not covered by earnings (103% earnings payout ratio). However, it is covered by cash flows (50% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 15% to bring the payout ratio under control. EPS is expected to grow by 15% over the next 3 years, which should be enough to bring the dividend into a sustainable range. Annonce • Feb 20
Sabina Public Company Limited, Annual General Meeting, Apr 23, 2026 Sabina Public Company Limited, Annual General Meeting, Apr 23, 2026, at 14:00 SE Asia Standard Time. Location: branch of company 7th floor, main-, conference room ,12 arunamarin road, khwang arunamarin khet bangkoknoi, bangkok 10700 Thailand Reported Earnings • Nov 15
Third quarter 2025 earnings released: EPS: ฿0.28 (vs ฿0.32 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.28 (down from ฿0.32 in 3Q 2024). Revenue: ฿804.6m (down 8.6% from 3Q 2024). Net income: ฿96.9m (down 12% from 3Q 2024). Profit margin: 12% (in line with 3Q 2024). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Luxury industry in Asia. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 20
Second quarter 2025 earnings: EPS exceeds analyst expectations Second quarter 2025 results: EPS: ฿0.29 (down from ฿0.34 in 2Q 2024). Revenue: ฿847.6m (down 6.0% from 2Q 2024). Net income: ฿100.4m (down 15% from 2Q 2024). Profit margin: 12% (down from 13% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.8%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Luxury industry in Asia. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Declared Dividend • Aug 16
Dividend reduced to ฿0.58 Dividend of ฿0.58 is 16% lower than last year. Ex-date: 27th August 2025 Payment date: 10th September 2025 Dividend yield will be 7.6%, which is higher than the industry average of 3.9%. Sustainability & Growth Dividend is not covered by earnings (105% earnings payout ratio). However, it is covered by cash flows (63% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 16% to bring the payout ratio under control. EPS is expected to grow by 4.0% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Buy Or Sell Opportunity • Aug 06
Now 24% overvalued Over the last 90 days, the stock has fallen 11% to ฿16.10. The fair value is estimated to be ฿12.94, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.5% over the last 3 years. Earnings per share has grown by 8.9%. Revenue is forecast to grow by 1.4% in 2 years. Earnings are forecast to grow by 0.7% in the next 2 years. Price Target Changed • May 29
Price target decreased by 16% to ฿18.18 Down from ฿21.73, the current price target is an average from 4 analysts. New target price is 11% above last closing price of ฿16.40. Stock is down 33% over the past year. The company is forecast to post earnings per share of ฿1.25 for next year compared to ฿1.34 last year. Price Target Changed • May 27
Price target decreased by 12% to ฿20.23 Down from ฿23.10, the current price target is an average from 4 analysts. New target price is 26% above last closing price of ฿16.10. Stock is down 35% over the past year. The company is forecast to post earnings per share of ฿1.26 for next year compared to ฿1.34 last year. Reported Earnings • May 17
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: ฿0.29 (down from ฿0.35 in 1Q 2024). Revenue: ฿845.1m (down 6.8% from 1Q 2024). Net income: ฿102.7m (down 16% from 1Q 2024). Profit margin: 12% (down from 14% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 6.3%. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Luxury industry in Asia. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 25
Upcoming dividend of ฿0.65 per share Eligible shareholders must have bought the stock before 02 May 2025. Payment date: 20 May 2025. The company is paying out more than 100% of its profits and is paying out 81% of its cash flow. Trailing yield: 7.1%. Lower than top quartile of Thai dividend payers (7.9%). Higher than average of industry peers (5.4%). Annonce • Apr 25
Sabina Public Company Limited Approves Cash Dividend for the Year 2024, Payable on 20 May 2025 Sabina Public Company Limited at its AGM held on April 24, 2025, approved dividend payment in the amount THB 1.34 per share, total 347.50 million shares, totaling to THB 465.65 Million. However, since the company has paid the dividend in the interim amounting THB 0.69 per share, total 347.50 million shares, totaling to THB 239.78 Million. Therefore, The dividend will be paid addition in the amount THB 0.65 per share, total 347.50 million shares, totaling to THB 225.88 Million. The mentioned dividend paid from 2024 retained earnings. According to with the dividend policy to shareholders at a rate of not less than 40% of net profit from the tax deduction and reserving the amount required by law. The list of the shareholders with the right to receive dividend would be announced on the 6 May 2025. The dividend is to be paid on the 20 May 2025. Price Target Changed • Mar 13
Price target decreased by 12% to ฿24.54 Down from ฿27.75, the current price target is an average from 4 analysts. New target price is 26% above last closing price of ฿19.50. Stock is down 25% over the past year. The company is forecast to post earnings per share of ฿1.40 for next year compared to ฿1.34 last year. Reported Earnings • Mar 02
Full year 2024 earnings released: EPS: ฿1.34 (vs ฿1.33 in FY 2023) Full year 2024 results: EPS: ฿1.34 (up from ฿1.33 in FY 2023). Revenue: ฿3.58b (up 4.1% from FY 2023). Net income: ฿464.4m (flat on FY 2023). Profit margin: 13% (in line with FY 2023). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Luxury industry in Asia. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Annonce • Feb 27
Sabina Public Company Limited, Annual General Meeting, Apr 24, 2025 Sabina Public Company Limited, Annual General Meeting, Apr 24, 2025, at 14:00 SE Asia Standard Time. Location: branch of company 7th floor, room 702 , 12 arunamarin road, khwang arunamarin khet bangkoknoi, bangkok 10700 Thailand Declared Dividend • Feb 27
Dividend of ฿0.65 announced Shareholders will receive a dividend of ฿0.65. Ex-date: 2nd May 2025 Payment date: 20th May 2025 Dividend yield will be 7.1%, which is higher than the industry average of 3.9%. Sustainability & Growth Dividend is not covered by earnings (102% earnings payout ratio) nor is it adequately covered by cash flows (98% cash payout ratio). The dividend has increased by an average of 27% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 13% to bring the payout ratio under control. EPS is expected to grow by 17% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Annonce • Feb 26
Sabina Public Company Limited Proposes Cash Dividend for the Year 2024, Payable on 20 May 2025 Sabina Public Company Limited proposed to the shareholders for approve dividend will be paid out of net profit in the amount THB 0.65 per share, total 347.50 million shares, totaling to THB 225.88 Million. The mentioned dividend paid from 2024 retained earnings. According to with the dividend policy to shareholders at a rate of not less than 40% of net profit from the tax deduction and reserving the amount required by law. The list of the shareholders with the right to receive dividend would be announced on the 6th May, 2025. The dividend is to be paid on the 20th May 2025. Ex-dividend date is 02 May 2025. Price Target Changed • Jan 28
Price target decreased by 8.5% to ฿26.13 Down from ฿28.55, the current price target is an average from 5 analysts. New target price is 43% above last closing price of ฿18.30. Stock is down 33% over the past year. The company is forecast to post earnings per share of ฿1.31 for next year compared to ฿1.33 last year. Declared Dividend • Aug 15
First half dividend increased to ฿0.69 Dividend of ฿0.69 is 4.5% higher than last year. Ex-date: 26th August 2024 Payment date: 10th September 2024 Dividend yield will be 6.4%, which is higher than the industry average of 3.9%. Sustainability & Growth Dividend is not adequately covered by earnings (98% earnings payout ratio) nor is it covered by cash flows (112% cash payout ratio). The dividend has increased by an average of 26% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 8.5% to bring the payout ratio under control. EPS is expected to grow by 30% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Aug 14
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: EPS: ฿0.34 (up from ฿0.33 in 2Q 2023). Revenue: ฿905.1m (up 7.0% from 2Q 2023). Net income: ฿117.9m (up 4.5% from 2Q 2023). Profit margin: 13% (in line with 2Q 2023). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 1.4%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Luxury industry in Asia. 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 4% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jul 19
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to ฿21.50. The fair value is estimated to be ฿27.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.3% over the last 3 years. Earnings per share has grown by 20%. Revenue is forecast to grow by 15% in 2 years. Earnings are forecast to grow by 22% in the next 2 years. Reported Earnings • May 15
First quarter 2024 earnings released: EPS: ฿0.35 (vs ฿0.34 in 1Q 2023) First quarter 2024 results: EPS: ฿0.35 (up from ฿0.34 in 1Q 2023). Revenue: ฿906.5m (up 3.7% from 1Q 2023). Net income: ฿122.7m (up 4.7% from 1Q 2023). Profit margin: 14% (in line with 1Q 2023). Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Luxury industry in Asia. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 26
Upcoming dividend of ฿0.67 per share Eligible shareholders must have bought the stock before 03 May 2024. Payment date: 17 May 2024. Payout ratio is on the higher end at 100%, however this is supported by cash flows. Trailing yield: 5.1%. Lower than top quartile of Thai dividend payers (5.9%). Higher than average of industry peers (3.8%). Reported Earnings • Feb 27
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: ฿1.33 (up from ฿1.20 in FY 2022). Revenue: ฿3.44b (up 8.3% from FY 2022). Net income: ฿462.5m (up 11% from FY 2022). Profit margin: 13% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.8%. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Luxury industry in Asia. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Declared Dividend • Feb 24
Dividend increased to ฿0.67 Dividend of ฿0.67 is 14% higher than last year. Ex-date: 3rd May 2024 Payment date: 17th May 2024 Dividend yield will be 5.1%, which is higher than the industry average of 3.9%. Sustainability & Growth Dividend is not adequately covered by earnings (95% earnings payout ratio) nor is it covered by cash flows (135% cash payout ratio). The dividend has increased by an average of 27% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 6.1% to bring the payout ratio under control. EPS is expected to grow by 24% over the next 2 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Nov 18
Third quarter 2023 earnings: EPS exceeds analyst expectations Third quarter 2023 results: EPS: ฿0.34 (up from ฿0.29 in 3Q 2022). Revenue: ฿851.8m (up 9.1% from 3Q 2022). Net income: ฿118.9m (up 19% from 3Q 2022). Profit margin: 14% (up from 13% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.8%. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Luxury industry in Asia. 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 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 21
Upcoming dividend of ฿0.66 per share at 5.1% yield Eligible shareholders must have bought the stock before 28 August 2023. Payment date: 12 September 2023. Payout ratio and cash payout ratio are on the higher end at 100% and 92% respectively. Trailing yield: 5.1%. Lower than top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (3.4%). New Risk • Aug 18
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 100% Cash payout ratio: 106% Dividend yield: 4.9% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 100% Cash payout ratio: 106% Minor Risk Share price has been volatile over the past 3 months (6.1% average weekly change). Reported Earnings • Aug 18
Second quarter 2023 earnings: EPS exceeds analyst expectations Second quarter 2023 results: EPS: ฿0.33 (up from ฿0.32 in 2Q 2022). Revenue: ฿849.7m (up 1.0% from 2Q 2022). Net income: ฿115.1m (up 5.3% from 2Q 2022). Profit margin: 14% (in line with 2Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.5%. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Luxury industry in Asia. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 10% per year. Upcoming Dividend • Apr 26
Upcoming dividend of ฿0.59 per share at 4.4% yield Eligible shareholders must have bought the stock before 03 May 2023. Payment date: 19 May 2023. Payout ratio is on the higher end at 100%, however this is supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Thai dividend payers (6.2%). Higher than average of industry peers (3.6%). Reported Earnings • Feb 23
Full year 2022 earnings: Revenues and EPS in line with analyst expectations Full year 2022 results: EPS: ฿1.20 (up from ฿0.85 in FY 2021). Revenue: ฿3.19b (up 20% from FY 2021). Net income: ฿417.2m (up 42% from FY 2021). Profit margin: 13% (up from 11% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 9.4% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Luxury industry in Asia. 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 10% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 18
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: ฿0.29 (up from ฿0.16 in 3Q 2021). Revenue: ฿781.3m (up 43% from 3Q 2021). Net income: ฿100.2m (up 82% from 3Q 2021). Profit margin: 13% (up from 10% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 3.3%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Luxury industry in Asia. 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 6% per year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Director Pensri Suteerasan was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Aug 17
Upcoming dividend of ฿0.61 per share Eligible shareholders must have bought the stock before 24 August 2022. Payment date: 08 September 2022. Payout ratio is on the higher end at 93%, however this is supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Thai dividend payers (5.4%). In line with average of industry peers (3.2%). Upcoming Dividend • Apr 28
Upcoming dividend of ฿0.44 per share Eligible shareholders must have bought the stock before 05 May 2022. Payment date: 19 May 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.5%. Lower than top quartile of Thai dividend payers (5.1%). In line with average of industry peers (3.4%). Price Target Changed • Apr 27
Price target increased to ฿26.23 Up from ฿23.83, the current price target is an average from 4 analysts. New target price is 9.3% above last closing price of ฿24.00. Stock is up 13% over the past year. The company is forecast to post earnings per share of ฿1.12 for next year compared to ฿0.85 last year. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 7 highly experienced directors. 5 independent directors (6 non-independent directors). Independent Director Pensri Suteerasan was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Mar 21
Price target increased to ฿25.63 Up from ฿23.83, the current price target is an average from 4 analysts. New target price is 20% above last closing price of ฿21.40. Stock is up 1.4% over the past year. The company is forecast to post earnings per share of ฿1.12 for next year compared to ฿0.85 last year. Reported Earnings • Feb 22
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: ฿0.85 (up from ฿0.80 in FY 2020). Revenue: ฿2.66b (down 8.8% from FY 2020). Net income: ฿294.2m (up 6.3% from FY 2020). Profit margin: 11% (up from 9.5% in FY 2020). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates by 2.8%. Over the next year, revenue is forecast to grow 18%, compared to a 35% growth forecast for the industry in Thailand. 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 8% per year. Reported Earnings • Nov 16
Third quarter 2021 earnings released: EPS ฿0.16 (vs ฿0.25 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: ฿547.2m (down 33% from 3Q 2020). Net income: ฿55.2m (down 36% from 3Q 2020). Profit margin: 10% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 14% per year. Major Estimate Revision • Aug 20
Consensus revenue estimates fall to ฿2.50b The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from ฿2.96b to ฿2.50b. EPS estimate fell from ฿0.80 to ฿0.70 per share. Net income forecast to grow 5.2% next year vs 26% growth forecast for Luxury industry in Thailand. Consensus price target broadly unchanged at ฿23.63. Share price was steady at ฿19.30 over the past week. Upcoming Dividend • Aug 19
Upcoming dividend of ฿0.41 per share Eligible shareholders must have bought the stock before 26 August 2021. Payment date: 10 September 2021. Trailing yield: 4.5%. Lower than top quartile of Thai dividend payers (5.0%). Higher than average of industry peers (3.7%). Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS ฿0.18 (vs ฿0.14 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: ฿633.1m (down 4.0% from 2Q 2020). Net income: ฿62.7m (up 24% from 2Q 2020). Profit margin: 9.9% (up from 7.6% 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 6% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Aug 06
Consensus EPS estimates fall to ฿0.80 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from ฿3.11b to ฿2.96b. EPS estimate also fell from ฿0.99 to ฿0.80. Net income forecast to grow 17% next year vs 29% growth forecast for Luxury industry in Thailand. Consensus price target broadly unchanged at ฿23.91. Share price was steady at ฿19.00 over the past week. Reported Earnings • May 14
First quarter 2021 earnings released: EPS ฿0.23 (vs ฿0.20 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: ฿672.3m (down 1.1% from 1Q 2020). Net income: ฿78.4m (up 11% from 1Q 2020). Profit margin: 12% (up from 10% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • Apr 29
Upcoming dividend of ฿0.45 per share Eligible shareholders must have bought the stock before 06 May 2021. Payment date: 21 May 2021. Trailing yield: 3.7%. Lower than top quartile of Thai dividend payers (4.8%). In line with average of industry peers (3.5%). Is New 90 Day High Low • Feb 22
New 90-day low: ฿19.20 The company is down 12% from its price of ฿21.70 on 24 November 2020. The Thai market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿8.00 per share. Reported Earnings • Feb 20
Full year 2020 earnings released: EPS ฿0.80 (vs ฿1.19 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿2.91b (down 12% from FY 2019). Net income: ฿276.8m (down 33% from FY 2019). Profit margin: 9.5% (down from 13% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 20
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) missed analyst estimates by 4.8%. Over the next year, revenue is forecast to grow 4.3%, compared to a 18% growth forecast for the Luxury industry in Thailand. Is New 90 Day High Low • Jan 22
New 90-day low: ฿19.80 The company is down 7.0% from its price of ฿21.20 on 22 October 2020. The Thai market is up 25% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿8.22 per share. Price Target Changed • Nov 18
Price target raised to ฿23.50 Up from ฿21.33, the current price target is an average from 3 analysts. The new target price is 8.8% above the current share price of ฿21.60. As of last close, the stock is down 24% over the past year. Analyst Estimate Surprise Post Earnings • Nov 14
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 7.4%. Earnings per share (EPS) also surpassed analyst estimates by 28%. Over the next year, revenue is forecast to stay flat compared to a 16% growth forecast for the Luxury industry in Thailand. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS ฿0.24 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿815.1m (down 3.7% from 3Q 2019). Net income: ฿85.8m (down 26% from 3Q 2019). Profit margin: 11% (down from 14% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Price Target Changed • Sep 21
Price target raised to ฿22.25 Up from ฿20.60, the current price target is an average from 4 analysts. The new target price is 6.5% above the current share price of ฿20.90. As of last close, the stock is down 27% over the past year.