Annonce • Aug 04
Pruksa Holding Public Company Limited to Report Q2, 2026 Results on Aug 13, 2026 Pruksa Holding Public Company Limited announced that they will report Q2, 2026 results at 4:45 PM, SE Asia Standard Time on Aug 13, 2026 New Risk • Jun 19
New minor risk - Dividend sustainability The dividend is not well covered by earnings. The company is paying a dividend despite being loss-making. Dividend yield: 3.2% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings 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. However, this risk is mitigated by the fact the dividend is covered by cash flows. 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. Annonce • Apr 16
Pruksa Holding Public Company Limited to Report Q1, 2026 Results on May 15, 2026 Pruksa Holding Public Company Limited announced that they will report Q1, 2026 results on May 15, 2026 New Risk • Mar 08
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 10% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 03
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: ฿0.25 loss per share (down from ฿0.21 profit in FY 2024). Revenue: ฿14.9b (down 24% from FY 2024). Net loss: ฿540.0m (down 218% from profit in FY 2024). Revenue missed analyst estimates by 12%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance. Declared Dividend • Mar 02
Dividend of ฿0.09 announced Shareholders will receive a dividend of ฿0.09. Ex-date: 12th March 2026 Payment date: 22nd May 2026 Dividend yield will be 2.8%, which is lower than the industry average of 4.3%. Annonce • Feb 27
Pruksa Holding Public Company Limited, Annual General Meeting, Apr 28, 2026 Pruksa Holding Public Company Limited, Annual General Meeting, Apr 28, 2026, at 14:00 SE Asia Standard Time. Board Change • Feb 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Montree Sornpaisarn was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Annonce • Jan 15
Pruksa Holding Public Company Limited to Report Fiscal Year 2025 Results on Feb 27, 2026 Pruksa Holding Public Company Limited announced that they will report fiscal year 2025 results on Feb 27, 2026 Price Target Changed • Jan 10
Price target decreased by 11% to ฿3.38 Down from ฿3.80, the current price target is an average from 6 analysts. New target price is 9.5% below last closing price of ฿3.74. Stock is down 47% over the past year. The company is forecast to post earnings per share of ฿0.22 for next year compared to ฿0.21 last year. Price Target Changed • Nov 19
Price target decreased by 7.7% to ฿3.76 Down from ฿4.08, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ฿3.66. Stock is down 58% over the past year. The company is forecast to post earnings per share of ฿0.26 for next year compared to ฿0.21 last year. Reported Earnings • Nov 16
Third quarter 2025 earnings released: EPS: ฿0.05 (vs ฿0.17 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.05 (down from ฿0.17 in 3Q 2024). Revenue: ฿3.25b (down 38% from 3Q 2024). Net income: ฿106.0m (down 72% from 3Q 2024). Profit margin: 3.3% (down from 7.2% in 3Q 2024). Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 38 percentage points per year, which is a significant difference in performance. Annonce • Oct 16
Pruksa Holding Public Company Limited to Report Q3, 2025 Results on Nov 14, 2025 Pruksa Holding Public Company Limited announced that they will report Q3, 2025 results on Nov 14, 2025 Annonce • Oct 02
CapitaLand Investment Limited (SGX:9CI) acquired Ally Logistics Property Holding Company Limited from Pruksa Holding Public Company Limited (SET:PSH) for THB 480 million. CapitaLand Investment Limited (SGX:9CI) acquired Ally Logistics Property Holding Company Limited from Pruksa Holding Public Company Limited (SET:PSH) for THB 480 million on September 25, 2025.
CapitaLand Investment Limited (SGX:9CI) completed the acquisition of Ally Logistics Property Holding Company Limited from Pruksa Holding Public Company Limited (SET:PSH) for THB 480 million on September 25, 2025. Buy Or Sell Opportunity • Oct 01
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.7% to ฿4.10. The fair value is estimated to be ฿5.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 17% over the last 3 years. Earnings per share has declined by 55%. Revenue is forecast to grow by 15% in 2 years. Earnings are forecast to grow by 515% in the next 2 years. Declared Dividend • Aug 15
First half dividend reduced to ฿0.02 Dividend of ฿0.02 is 87% lower than last year. Ex-date: 28th August 2025 Payment date: 12th September 2025 Dividend yield will be 1.9%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (79% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 184% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: ฿0.03 (vs ฿0.14 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.03 (down from ฿0.14 in 2Q 2024). Revenue: ฿3.19b (down 40% from 2Q 2024). Net income: ฿76.4m (down 76% from 2Q 2024). Profit margin: 2.4% (down from 5.9% in 2Q 2024). Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ฿4.54, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 6x in the Real Estate industry in Thailand. Total loss to shareholders of 57% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿8.74 per share. Price Target Changed • May 28
Price target decreased by 8.2% to ฿4.04 Down from ฿4.40, the current price target is an average from 5 analysts. New target price is 8.6% below last closing price of ฿4.42. Stock is down 57% over the past year. The company is forecast to post earnings per share of ฿0.38 for next year compared to ฿0.21 last year. Annonce • Apr 29
Pruksa Holding Public Company Limited Approves Dividend for the Year 2024, Payable on 23 May 2025 Pruksa Holding Public Company Limited announced that at its AGM held on April 28, 2025, approved dividend payment from the 2024 operating performance at the rate of THB 0.21 per share. The company paid an interim dividend on 13 September 2024 at the rate of THB 0.15 per share. Therefore, the remaining dividend to be paid is THB 0.06 per share. The dividend will be paid on 23 May 2025 to the shareholders whose names appear on 14 March 2025 (Record Date). Annonce • Apr 18
Pruksa Holding Public Company Limited to Report Q1, 2025 Results on May 13, 2025 Pruksa Holding Public Company Limited announced that they will report Q1, 2025 results on May 13, 2025 Annonce • Apr 09
Pruksa Holding Public Company Limited Announces Change in Group Chief Financial Officer Pruksa Holding Public Company Limited announced change in Group chief financial officer from Mr. Chayanon Horpattaporn to Ms. Jintana Insee, appointed as the Acting Group CFO. New Risk • Mar 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 33% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (101% payout ratio). Share price has been volatile over the past 3 months (7.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.3% net profit margin). Declared Dividend • Mar 02
Final dividend reduced to ฿0.06 Dividend of ฿0.06 is 91% lower than last year. Ex-date: 13th March 2025 Payment date: 23rd May 2025 Dividend yield will be 4.4%, which is about the same as the industry average. Sustainability & Growth Dividend is not covered by earnings (201% earnings payout ratio) nor is it adequately covered by cash flows (99% cash payout ratio). The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 124% to bring the payout ratio under control. EPS is expected to grow by 129% over the next 2 years, which is sufficient to bring the dividend into a sustainable range. New Risk • Feb 28
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 6.9% 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: Minor Risks Dividend is not well covered by earnings (201% payout ratio). Share price has been volatile over the past 3 months (6.9% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.3% net profit margin). Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ฿4.80, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 6x in the Real Estate industry in Thailand. Total loss to shareholders of 59% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿4.65 per share. Annonce • Feb 13
Pruksa Holding Public Company Limited Announces Resignation of Uten Lohachitpitaks as Director Pruksa Holding Public Company Limited announced that Mr. Uten Lohachitpitaks resigned from the position of Director due to personal reasons. Date of board resolution for change of director /executive: February 13, 2025, Effective Date: April 28, 2022 and Expire Date: February 12, 2025. Price Target Changed • Feb 11
Price target decreased by 10% to ฿7.53 Down from ฿8.39, the current price target is an average from 7 analysts. New target price is 23% above last closing price of ฿6.10. Stock is down 50% over the past year. The company is forecast to post earnings per share of ฿0.58 for next year compared to ฿1.01 last year. Buy Or Sell Opportunity • Feb 10
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 29% to ฿5.85. The fair value is estimated to be ฿7.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.6% over the last 3 years. Earnings per share has declined by 16%. Revenue is forecast to grow by 17% in 2 years. Earnings are forecast to grow by 102% in the next 2 years. Annonce • Jan 15
Pruksa Holding Public Company Limited to Report Fiscal Year 2024 Results on Feb 28, 2025 Pruksa Holding Public Company Limited announced that they will report fiscal year 2024 results on Feb 28, 2025 Annonce • Jan 08
Pruksa Holding Public Company Limited Announces Board and Committee Changes Pruksa Holding Public Company Limited announced the board of directors meeting of the company on January 7, 2025 acknowledged the resignation of Mr. Weerachai Ngamdeevilaisak from his positions as an Independent Director and member of all sub-committees. Also the Board unanimously approved the appointment of Ms. Narisara Phatanaphibul as an Independent Director and member of the Audit Committee and Risk Management Committee in replacement of Mr. Weerachai Ngamdeevilaisak, effective from 8 January 2025 onwards. Ms. Phatanaphibul holds a Bachelor of Business Administration in Accounting with Honors and a Master of Business Administration in Finance from Thammasat University. Additionally, she holds certifications as a Certified Internal Auditor from the Institute of Internal Auditors and a Certified Public Accountant from the Federation of Accounting Professions under the Royal Patronage of His Majesty the King along with other relevant professional qualifications. Ms. Phatanaphibul has more than 30 years of experience as a business and financial advisor working with leading audit and consulting firms both domestically and internationally. She also currently serves as a director of the Thai Institute of Directors Association. New Risk • Nov 21
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 219% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (242% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.4% net profit margin). Price Target Changed • Oct 29
Price target increased by 7.2% to ฿8.71 Up from ฿8.12, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of ฿8.80. Stock is down 30% over the past year. The company is forecast to post earnings per share of ฿0.70 for next year compared to ฿1.01 last year. Annonce • Oct 15
Pruksa Holding Public Company Limited to Report Q3, 2024 Results on Nov 14, 2024 Pruksa Holding Public Company Limited announced that they will report Q3, 2024 results on Nov 14, 2024 Major Estimate Revision • Sep 04
Consensus EPS estimates increase by 14% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from ฿0.622 to ฿0.711. Revenue forecast steady at ฿23.1b. Net income forecast to grow 84% next year vs 4.5% growth forecast for Real Estate industry in Thailand. Consensus price target down from ฿8.12 to ฿7.94. Share price was steady at ฿8.85 over the past week. Price Target Changed • Sep 03
Price target decreased by 7.4% to ฿7.94 Down from ฿8.58, the current price target is an average from 8 analysts. New target price is 10% below last closing price of ฿8.85. Stock is down 33% over the past year. The company is forecast to post earnings per share of ฿0.71 for next year compared to ฿1.01 last year. Upcoming Dividend • Aug 21
Upcoming dividend of ฿0.15 per share Eligible shareholders must have bought the stock before 28 August 2024. Payment date: 13 September 2024. The company is paying out more than 100% of its profits and is paying out 89% of its cash flow. Trailing yield: 11%. Within top quartile of Thai dividend payers (6.8%). Higher than average of industry peers (5.0%). Major Estimate Revision • Aug 21
Consensus EPS estimates fall by 15%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from ฿22.6b to ฿23.1b. EPS estimate fell from ฿0.706 to ฿0.60 per share. Net income forecast to grow 78% next year vs 5.2% growth forecast for Real Estate industry in Thailand. Consensus price target down from ฿8.58 to ฿8.25. Share price rose 3.0% to ฿8.70 over the past week. Annonce • Aug 17
Pruksa Holding Public Company Limited Announces Cash Dividend Payment for the Operating Period from January 01, 2024 to June 30, 2024, Payable on September 13, 2024 Pruksa Holding Public Company Limited announced cash dividend payment of THB 0.15 per share for the operating period from January 01, 2024 to June 30, 2024. Par value is THB 1.00. Payment date is September 13, 2024. Record date for the right to receive dividends is August 29, 2024. Ex-dividend date is August 28, 2024. Declared Dividend • Aug 16
First half dividend of ฿0.15 announced Shareholders will receive a dividend of ฿0.15. Ex-date: 28th August 2024 Payment date: 13th September 2024 Dividend yield will be 9.5%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is not covered by earnings (237% earnings payout ratio). However, it is covered by cash flows (89% cash payout ratio). The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 163% to bring the payout ratio under control. EPS is expected to grow by 124% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Aug 15
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: EPS: ฿0.14 (down from ฿0.47 in 2Q 2023). Revenue: ฿5.69b (down 6.5% from 2Q 2023). Net income: ฿313.7m (down 70% from 2Q 2023). Profit margin: 5.5% (down from 17% in 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 1.0% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Buy Or Sell Opportunity • Aug 08
Now 21% overvalued Over the last 90 days, the stock has fallen 25% to ฿8.50. The fair value is estimated to be ฿7.04, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.0% over the last 3 years. Earnings per share has grown by 2.5%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 28% in the next 2 years. Major Estimate Revision • Jul 20
Consensus EPS estimates fall by 22% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿24.1b to ฿22.2b. EPS estimate also fell from ฿0.90 per share to ฿0.706 per share. Net income forecast to grow 2.5% next year vs 3.9% growth forecast for Real Estate industry in Thailand. Consensus price target down from ฿8.86 to ฿8.58. Share price was steady at ฿9.15 over the past week. Price Target Changed • Jul 19
Price target decreased by 7.5% to ฿8.58 Down from ฿9.27, the current price target is an average from 8 analysts. New target price is 6.3% below last closing price of ฿9.15. Stock is down 30% over the past year. The company is forecast to post earnings per share of ฿0.71 for next year compared to ฿1.01 last year. Reported Earnings • May 14
First quarter 2024 earnings released: EPS: ฿0.03 (vs ฿0.30 in 1Q 2023) First quarter 2024 results: EPS: ฿0.03 (down from ฿0.30 in 1Q 2023). Revenue: ฿4.17b (down 35% from 1Q 2023). Net income: ฿65.4m (down 90% from 1Q 2023). Profit margin: 1.6% (down from 10% in 1Q 2023). Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Annonce • Apr 17
Pruksa Holding Public Company Limited to Report Q1, 2024 Results on May 13, 2024 Pruksa Holding Public Company Limited announced that they will report Q1, 2024 results on May 13, 2024 Upcoming Dividend • Feb 23
Upcoming dividend of ฿0.65 per share Eligible shareholders must have bought the stock before 01 March 2024. Payment date: 24 May 2024. Payout ratio is on the higher end at 95%, however this is supported by cash flows. Trailing yield: 7.7%. Within top quartile of Thai dividend payers (6.5%). Higher than average of industry peers (4.2%). Declared Dividend • Feb 21
Final dividend of ฿0.65 announced Dividend of ฿0.65 is the same as last year. Ex-date: 29th February 2024 Payment date: 24th May 2024 Dividend yield will be 7.9%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is not adequately covered by earnings (95% earnings payout ratio). However, it is well covered by cash flows (35% cash payout ratio). The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 5.9% to bring the payout ratio under control. EPS is expected to grow by 6.2% over the next 3 years, which should be enough to bring the dividend into a sustainable range. Annonce • Feb 20
Pruksa Holding Public Company Limited Approves the Proposal of Dividend for the Year 2023, Payable on May 24, 2024 Pruksa Holding Public Company Limited announced that at the board of directors meeting held on February 16, 2024, the board has approved the proposal for dividend payment from the 2023 operating performance to the 2024 Annual General Meeting of Shareholders ("AGM") at the rate of THB 0.96 per share. In this regard, PSH paid an interim dividend on 8th September 2023 at the rate of THB 0.31 per share. Therefore, the remaining dividend to be paid is THB 0.65 per share. The dividend will be paid on 24th May 2024. Shareholders whose names appear on 1st March 2024 (Record Date) are eligible to receive the dividend. The first date of XD is set for 29th February2024. The entitlement to receive such dividends remains uncertain until approval by the 2024 AGM. Reported Earnings • Feb 20
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: ฿1.01 (down from ฿1.27 in FY 2022). Revenue: ฿24.2b (down 15% from FY 2022). Net income: ฿2.21b (down 21% from FY 2022). Profit margin: 9.1% (in line with FY 2022). Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Annonce • Feb 19
Pruksa Holding Public Company Limited, Annual General Meeting, Apr 26, 2024 Pruksa Holding Public Company Limited, Annual General Meeting, Apr 26, 2024, at 14:00 SE Asia Standard Time. Location: Meeting Room, 1177 Pearl Bangkok Building, 4th floor, Phaholyothin Road, Phayathai Sub-district, Phayathai District, Bangkok 10400 Bangkok Thailand Agenda: To consider the acknowledge the Board of Directors' report on the Company's 2023 business performance; to approve the statements of financial position and statements of income for the year 2023; to approve the allocation of 2023 net profit as legal reserve and the dividend payment; to approve the Board of Directors' remuneration policy and set the budget for the year 2024 at the amount of THB 33,500,000 the same as the previous year; and to consider other matters if any. Annonce • Jan 15
Pruksa Holding Public Company Limited to Report Fiscal Year 2023 Results on Feb 16, 2024 Pruksa Holding Public Company Limited announced that they will report fiscal year 2023 results on Feb 16, 2024 New Risk • Dec 30
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 25% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 11% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Price Target Changed • Nov 21
Price target decreased by 7.7% to ฿10.24 Down from ฿11.09, the current price target is an average from 8 analysts. New target price is 15% below last closing price of ฿12.10. Stock is down 0.8% over the past year. The company is forecast to post earnings per share of ฿1.18 for next year compared to ฿1.27 last year. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: ฿0.18 (vs ฿0.28 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.18 (down from ฿0.28 in 3Q 2022). Revenue: ฿6.24b (down 8.7% from 3Q 2022). Net income: ฿391.6m (down 37% from 3Q 2022). Profit margin: 6.3% (down from 9.1% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 3.0% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Thailand are expected to grow by 7.0%. Over the last 3 years on average, earnings per share has increased by 3% per year and the company’s share price has also increased by 3% per year. Annonce • Nov 01
CapitaLand Investment Limited and Pruksa Holding Public Company Limited Jointly Establish CapitaLand Wellness Fund CapitaLand Investment Limited (CLI) and Pruksa Holding Public Company Limited (PSH) announced the establishment and the first close of the inaugural wellness and healthcare-related real estate fund, CapitaLand Wellness Fund (C-WELL). CLI and PSH have jointly committed an initial equity investment of SGD 350 million towards the fund's target equity size of SGD 500 million, with an option to upsize to SGD 1 billion in equity and target asset value of SGD 2.9 billion when fully deployed. C-WELL marks the second jointly established fund by CLI and PSH in their continuing strategic partnership following the launch of the CapitaLand SEA Logistics Fund last year. C-WELL is a Southeast Asian anchored value-add fund with an initial focus on Singapore, Thailand and Malaysia. It targets investments in single or mixed-used assets across the wellness spectrum, comprising residential, lodging, senior living, clinics, medical suites, hospital facilities, and wellness- and lifestyle-oriented living solutions. The fund will also have an allocation for relevant strategic development opportunities in the Asia Pacific region. C-WELL will adopt an operator-agnostic approach to its investments, ensuring its assets will reach a broader and more diverse user base. CLI and PSH have over 60 years of combined industry experience and are well-positioned to identify and capitalise on wellness and healthcare-related investment opportunities in these markets. This latest partnership brings together CLI's extensive experience in real estate, lodging and fund management, and its retail placemaking capabilities with PSH's deep residential development expertise and its healthcare platform, ViMUT Group, to drive C- WELL's investments across the region. Evolving demographics and the emergence of the "longevity economy" in the region have generated significant demand for wellness-related services and assets. There is a growing emphasis on "healthspan" as individuals actively pursue holistic wellness and preventive health measures to lead longer, healthier, and more active lives. Annonce • Oct 16
Pruksa Holding Public Company Limited to Report Q3, 2023 Results on Nov 10, 2023 Pruksa Holding Public Company Limited announced that they will report Q3, 2023 results on Nov 10, 2023 Annonce • Sep 14
Pruksa Holding Public Company Limited Appoints Rustai Woraittanon as Head of Corporate Accounting Pruksa Holding Public Company Limited announced that Miss Rustai Woraittanon appointed as Head of Corporate Accounting. Effective Date 13 September 2023. Upcoming Dividend • Aug 18
Upcoming dividend of ฿0.31 per share at 7.4% yield Eligible shareholders must have bought the stock before 25 August 2023. Payment date: 08 September 2023. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 7.4%. Within top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (3.9%). Reported Earnings • Aug 16
Second quarter 2023 earnings released: EPS: ฿0.47 (vs ฿0.20 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.47 (up from ฿0.20 in 2Q 2022). Revenue: ฿7.11b (up 32% from 2Q 2022). Net income: ฿1.04b (up 141% from 2Q 2022). Profit margin: 15% (up from 8.0% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is expected to decline by 3.9% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Thailand are expected to grow by 6.5%. 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 5% per year, which means it is well ahead of earnings. Annonce • Aug 12
Pruksa Holding Public Company Limited Announces Cash Dividend for the Operating Period from 01 January 2023 to 30 June 2023, Payable on 08 September 2023 Pruksa Holding Public Company Limited announced cash dividend payment of THB 0.31 per share for the operating period from 01 January 2023 to 30 June 2023. Par value is THB 1.00. Payment date is 08 September 2023. Record date for the right to receive dividends is 28 August 2023. Ex-dividend date is 25 August 2023. Annonce • Jul 17
Pruksa Holding Public Company Limited to Report Q2, 2023 Results on Aug 11, 2023 Pruksa Holding Public Company Limited announced that they will report Q2, 2023 results on Aug 11, 2023 Annonce • Jul 15
Pruksa Holding Public Company Limited Announces Management Changes Pruksa Holding Public Company Limited announced that the Board of Directors' Meeting No. 6/2023 held on July 14th, 2023 has passed the resolution to appoint Miss Rasamee Yongrasameewong as the Company Secretary, replacing Mr. Paisarl Rumphan. The Company Secretary shall perform her role in accordance with the provisions of the Securities and Exchange Act and any other acts as assigned by the Board of Directors of PSH. The appointment will be effective from July 14th, 2023 onwards. Reported Earnings • May 18
First quarter 2023 earnings released: EPS: ฿0.30 (vs ฿0.25 in 1Q 2022) First quarter 2023 results: EPS: ฿0.30 (up from ฿0.25 in 1Q 2022). Revenue: ฿6.56b (up 9.7% from 1Q 2022). Net income: ฿652.5m (up 18% from 1Q 2022). Profit margin: 9.9% (in line with 1Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 7.0% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Board Change • Apr 17
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. 6 highly experienced directors. Group CEO & Director Uten Lohachitpitaks was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Feb 18
Pruksa Holding Public Company Limited, Annual General Meeting, Apr 27, 2023 Pruksa Holding Public Company Limited, Annual General Meeting, Apr 27, 2023, at 14:00 SE Asia Standard Time. Location: Meeting room, 1177 Pearl Bangkok Building 4th floor Phaholyothin Road, Phayathai Sub-district, Phayathai District Bangkok Thailand Agenda: To consider and acknowledge the Annual Report and the Board of Directors' Report on the operating results of 2022; to consider and approve the Company's financial statements for the accounting period ended December 31, 2022; to consider and approve the allocation of net profit as legal reserve and the Company's dividend payment for 2022; to consider and approve the appointment of directors to replace the directors who retire by rotation; to consider and approve the determination of directors' remuneration for 2023; to consider and approve the appointment of the Company's external auditors for the 2023 accounting period, and the determination of the external auditors' fees for 2023; to consider and approve the amendment of Company's Articles of Association; and to consider other business (if any). Annonce • Feb 07
Pruksa Holding Public Company Limited to Report Fiscal Year 2022 Results on Feb 17, 2023 Pruksa Holding Public Company Limited announced that they will report fiscal year 2022 results at 4:45 PM, SE Asia Standard Time on Feb 17, 2023 Annonce • Jan 04
Pruksa Holding Public Company Limited Announces Resignation of Mrs. Sasivimol Thesaphu as Company Secretary Pruksa Holding Public Company Limited informed that Mrs. Sasivimol Thesaphu has resigned from the position of the Company Secretary, effective from 1 January 2023 onward. Price Target Changed • Dec 08
Price target decreased to ฿11.43 Down from ฿12.50, the current price target is an average from 9 analysts. New target price is 7.0% below last closing price of ฿12.30. Stock is down 6.1% over the past year. The company is forecast to post earnings per share of ฿1.23 for next year compared to ฿1.07 last year. Board Change • Nov 16
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. 6 experienced directors. 4 highly experienced directors. Group CEO & Director Uten Lohachitpitaks was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Aug 17
Upcoming dividend of ฿0.31 per share Eligible shareholders must have bought the stock before 24 August 2022. Payment date: 09 September 2022. Payout ratio is on the higher end at 91%, however this is supported by cash flows. Trailing yield: 7.4%. Within top quartile of Thai dividend payers (5.4%). Higher than average of industry peers (3.2%). Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: ฿0.20 (vs ฿0.19 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.20 (up from ฿0.19 in 2Q 2021). Revenue: ฿5.38b (down 16% from 2Q 2021). Net income: ฿429.9m (flat on 2Q 2021). Profit margin: 8.0% (up from 6.7% in 2Q 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 24%, compared to a 22% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Reported Earnings • May 16
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: ฿0.25 (down from ฿0.28 in 1Q 2021). Revenue: ฿5.98b (down 13% from 1Q 2021). Net income: ฿551.7m (down 9.0% from 1Q 2021). Profit margin: 9.2% (up from 8.8% in 1Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 4.6%. Over the next year, revenue is forecast to grow 19%, compared to a 18% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 4 highly experienced directors. Independent Director Kitipong Urapeepatanapong was the last 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: Insufficient board refreshment. Board Change • Apr 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. 5 experienced directors. 4 highly experienced directors. Independent Director Kitipong Urapeepatanapong was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 03
Upcoming dividend of ฿0.65 per share Eligible shareholders must have bought the stock before 10 March 2022. Payment date: 20 May 2022. Payout ratio is on the higher end at 89%, however this is supported by cash flows. Trailing yield: 6.6%. Within top quartile of Thai dividend payers (5.2%). Higher than average of industry peers (3.1%). Board Change • Mar 02
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. 5 experienced directors. 4 highly experienced directors. Independent Director Kitipong Urapeepatanapong was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Feb 22
Price target increased to ฿12.46 Up from ฿11.64, the current price target is an average from 13 analysts. New target price is 15% below last closing price of ฿14.70. Stock is up 14% over the past year. The company is forecast to post earnings per share of ฿1.39 for next year compared to ฿1.07 last year. Reported Earnings • Feb 20
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: ฿1.07 (down from ฿1.27 in FY 2020). Revenue: ฿28.4b (down 3.7% from FY 2020). Net income: ฿2.35b (down 15% from FY 2020). Profit margin: 8.3% (down from 9.4% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 4.6%. Over the next year, revenue is forecast to grow 15%, compared to a 19% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 16
Third quarter 2021 earnings released: EPS ฿0.15 (vs ฿0.28 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿6.09b (down 4.9% from 3Q 2020). Net income: ฿330.6m (down 45% from 3Q 2020). Profit margin: 5.4% (down from 9.4% in 3Q 2020). 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 10% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Aug 20
Upcoming dividend of ฿0.31 per share Eligible shareholders must have bought the stock before 27 August 2021. Payment date: 10 September 2021. Trailing yield: 7.4%. Within 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 ฿0.19 (vs ฿0.19 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: ฿6.39b (up 2.7% from 2Q 2020). Net income: ฿427.5m (up 2.5% from 2Q 2020). Profit margin: 6.7% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Executive Departure • Jul 13
Acting Chief Financial Officer Suporn Treewichayapong has left the company On the 1st of July, Suporn Treewichayapong's tenure as Acting Chief Financial Officer ended. We don't have any record of a personal shareholding under Suporn's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 3.58 years. Reported Earnings • May 16
First quarter 2021 earnings released: EPS ฿0.28 (vs ฿0.42 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿6.90b (down 3.9% from 1Q 2020). Net income: ฿606.1m (down 34% from 1Q 2020). Profit margin: 8.8% (down from 13% in 1Q 2020). 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 16% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 21
Full year 2020 earnings released: EPS ฿1.27 (vs ฿2.45 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿29.5b (down 27% from FY 2019). Net income: ฿2.77b (down 48% from FY 2019). Profit margin: 9.4% (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 fallen by 16% per year whereas the company’s share price has fallen by 19% per year. Analyst Estimate Surprise Post Earnings • Feb 21
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates by 5.2%. Over the next year, revenue is forecast to grow 3.8%, compared to a 5.5% growth forecast for the Real Estate industry in Thailand. Is New 90 Day High Low • Dec 16
New 90-day high: ฿13.30 The company is up 17% from its price of ฿11.40 on 17 September 2020. The Thai market is up 15% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Real Estate industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿6.31 per share. 
