New Risk • May 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 60% 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 Risks Interest payments are not well covered by earnings (0.9x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 248% Paying a dividend despite having no free cash flows. Earnings have declined by 34% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.6% net profit margin). Market cap is less than US$100m (฿535.6m market cap, or US$16.4m). Reported Earnings • May 21
First quarter 2026 earnings released: EPS: ฿0.024 (vs ฿0.028 in 1Q 2025) First quarter 2026 results: EPS: ฿0.024 (down from ฿0.028 in 1Q 2025). Revenue: ฿313.9m (down 9.3% from 1Q 2025). Net income: ฿7.51m (down 14% from 1Q 2025). Profit margin: 2.4% (down from 2.5% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 41 percentage points per year, which is a significant difference in performance. Board Change • Mar 31
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. 3 highly experienced directors. Independent Director Chalong Luengprasit was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Feb 25
Dividend reduced to ฿0.06 Dividend of ฿0.06 is 57% lower than last year. Ex-date: 6th March 2026 Payment date: 8th May 2026 Dividend yield will be 3.1%, which is lower than the industry average of 7.4%. Sustainability & Growth Dividend is not covered by earnings (149% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 15% per year over the past 5 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 65% to bring the payout ratio under control. However, EPS has declined by 36% over the last 5 years so the company would need to reverse this trend. Reported Earnings • Feb 25
Full year 2025 earnings released: EPS: ฿0.028 (vs ฿0.15 in FY 2024) Full year 2025 results: EPS: ฿0.028 (down from ฿0.15 in FY 2024). Revenue: ฿1.33b (down 19% from FY 2024). Net income: ฿8.78m (down 82% from FY 2024). Profit margin: 0.7% (down from 2.9% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 34 percentage points per year, which is a significant difference in performance. Annonce • Feb 24
Leo Global Logistics Public Company Limited announces Annual dividend, payable on May 08, 2026 Leo Global Logistics Public Company Limited announced Annual dividend of THB 0.0600 per share payable on May 08, 2026, ex-date on March 06, 2026 and record date on March 09, 2026. Annonce • Feb 23
Leo Global Logistics Public Company Limited, Annual General Meeting, Apr 21, 2026 Leo Global Logistics Public Company Limited, Annual General Meeting, Apr 21, 2026, at 10:00 SE Asia Standard Time. Buy Or Sell Opportunity • Feb 17
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 3.6% to ฿2.00. The fair value is estimated to be ฿1.62, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 45% over the last 3 years. Earnings per share has declined by 80%. Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: ฿0.007 (vs ฿0.04 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.007 (down from ฿0.04 in 3Q 2024). Revenue: ฿346.0m (down 33% from 3Q 2024). Net income: ฿2.31m (down 82% from 3Q 2024). Profit margin: 0.7% (down from 2.5% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 33 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Nov 06
Now 20% overvalued Over the last 90 days, the stock has fallen 7.1% to ฿1.97. The fair value is estimated to be ฿1.64, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 51% over the last 3 years. Earnings per share has declined by 76%. Buy Or Sell Opportunity • Oct 07
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 2.0% to ฿2.04. The fair value is estimated to be ฿1.68, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 51% over the last 3 years. Earnings per share has declined by 76%. Buy Or Sell Opportunity • Sep 11
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 5.0% to ฿2.12. The fair value is estimated to be ฿1.74, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 51% over the last 3 years. Earnings per share has declined by 76%. Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: ฿0.017 (vs ฿0.035 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.017 (down from ฿0.035 in 2Q 2024). Revenue: ฿337.3m (down 9.4% from 2Q 2024). Net income: ฿5.36m (down 52% from 2Q 2024). Profit margin: 1.6% (down from 3.0% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 30 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Jul 29
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to ฿2.12. The fair value is estimated to be ฿1.75, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 52% over the last 3 years. Earnings per share has declined by 68%. Buy Or Sell Opportunity • Jul 14
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to ฿2.10. The fair value is estimated to be ฿1.75, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 52% over the last 3 years. Earnings per share has declined by 68%. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: ฿0.028 (vs ฿0.033 in 1Q 2024) First quarter 2025 results: EPS: ฿0.028 (down from ฿0.033 in 1Q 2024). Revenue: ฿346.0m (flat on 1Q 2024). Net income: ฿8.67m (down 17% from 1Q 2024). Profit margin: 2.5% (down from 3.0% in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 22 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • May 14
Now 24% overvalued Over the last 90 days, the stock has fallen 6.1% to ฿2.16. The fair value is estimated to be ฿1.75, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 46% over the last 3 years. Earnings per share has declined by 56%. Annonce • Apr 25
Leo Global Logistics Public Company Limited Appoints Chalong Luengprasit as Independent Director and Member to Audit Committee and Nomination and Remuneration Committee Leo Global Logistics Public Company Limited at its AGM held on April 24, 2025, approved appointment of Mr. Chalong Luengprasit to be the Independent Director/Member of the Audit Committee/Member of the Nomination and Remuneration Committee. New Risk • Mar 09
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 93% The company is paying a dividend despite having no free cash flows. Dividend yield: 5.8% 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (12% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 93% Paying a dividend despite having no free cash flows. High level of non-cash earnings (20% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (2.9% net profit margin). Market cap is less than US$100m (฿762.5m market cap, or US$22.6m). Reported Earnings • Mar 03
Full year 2024 earnings released: EPS: ฿0.15 (vs ฿0.27 in FY 2023) Full year 2024 results: EPS: ฿0.15 (down from ฿0.27 in FY 2023). Revenue: ฿1.63b (up 19% from FY 2023). Net income: ฿47.6m (down 43% from FY 2023). Profit margin: 2.9% (down from 6.1% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 47% per year, which means it has not declined as severely as earnings. New Risk • Jan 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 9.3% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (9.3% average weekly change). High level of non-cash earnings (27% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (฿614.4m market cap, or US$17.8m). Buy Or Sell Opportunity • Jan 17
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 50% to ฿1.95. The fair value is estimated to be ฿2.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 37% over the last 3 years. Earnings per share has declined by 41%. Buy Or Sell Opportunity • Dec 25
Now 22% overvalued Over the last 90 days, the stock has fallen 26% to ฿3.06. The fair value is estimated to be ฿2.52, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 37% over the last 3 years. Earnings per share has declined by 41%. New Risk • Nov 14
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (27% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (฿1.19b market cap, or US$34.0m). Reported Earnings • Nov 14
Third quarter 2024 earnings released: EPS: ฿0.04 (vs ฿0.052 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.04 (down from ฿0.052 in 3Q 2023). Revenue: ฿513.5m (up 58% from 3Q 2023). Net income: ฿12.7m (down 22% from 3Q 2023). Profit margin: 2.5% (down from 5.0% in 3Q 2023). The decrease in margin was driven by higher expenses. 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 31% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: ฿0.035 (vs ฿0.06 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.035 (down from ฿0.06 in 2Q 2023). Revenue: ฿372.4m (up 6.1% from 2Q 2023). Net income: ฿11.1m (down 41% from 2Q 2023). Profit margin: 3.0% (down from 5.4% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. New Risk • Jun 22
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 Risk High level of non-cash earnings (32% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.2% average weekly change). Market cap is less than US$100m (฿1.37b market cap, or US$37.2m). Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ฿4.00, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 15x in the Logistics industry in Thailand. Total loss to shareholders of 55% over the past three years. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿4.62, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 17x in the Logistics industry in Thailand. Total loss to shareholders of 49% over the past three years. Annonce • Apr 27
Leo Global Logistics Public Company Limited Approves Dividend for the Period from January 1, 2023 to December 31 2023, Payable on May 14, 2024 Leo Global Logistics Public Company Limited at the AGM held on April 25, 2024, approved a dividend payment by cash at THB 0.16 per share for the period January 1, 2023 to December 31 2023. The company has determined the date on which the shareholders are entitled to receive the dividend to be on March 12, 2024 the dividend payment shall be made on May 14, 2024. Ex-Dividend date will be on March 11, 2024. Upcoming Dividend • Mar 04
Upcoming dividend of ฿0.16 per share Eligible shareholders must have bought the stock before 11 March 2024. Payment date: 14 May 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 8.4%. Within top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (4.0%). Annonce • Feb 28
Leo Global Logistics Public Company Limited Proposes Dividend for the Period from January 1, 2023 to December 31 2023, Payable on May 14, 2024 Leo Global Logistics Public Company Limited at the SBM held on February 23, 2024, the board had proposed to the AGM to approve a dividend payment by cash at THP 0.16 per share for the period January 1, 2023 to December 31 2023. The company has determined the date on which the shareholders are entitled to receive the dividend to be on March 12, 2024 the dividend payment shall be made on May 14, 2024. Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: ฿0.27 (vs ฿0.95 in FY 2022) Full year 2023 results: EPS: ฿0.27 (down from ฿0.95 in FY 2022). Revenue: ฿1.37b (down 70% from FY 2022). Net income: ฿83.5m (down 73% from FY 2022). Profit margin: 6.1% (down from 6.8% in FY 2022). The decrease in margin was driven by lower revenue. 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 9% per year, which means it is significantly lagging earnings. Annonce • Feb 27
Leo Global Logistics Public Company Limited, Annual General Meeting, Apr 25, 2024 Leo Global Logistics Public Company Limited, Annual General Meeting, Apr 25, 2024, at 10:00 SE Asia Standard Time. Agenda: To consider and certify the minutes of the 2023 AGM; to consider and acknowledge the operating results report for the year 2023; to approve the profit allocation and the dividend payment for the year 2023; and to discuss other matters. New Risk • Aug 16
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 8.4% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.4% average weekly change). Earnings are forecast to decline by an average of 2.0% 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. Market cap is less than US$100m (฿1.89b market cap, or US$53.3m). Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: ฿0.06 (vs ฿0.31 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.06 (down from ฿0.31 in 2Q 2022). Revenue: ฿350.8m (down 74% from 2Q 2022). Net income: ฿18.8m (down 81% from 2Q 2022). Profit margin: 5.4% (down from 7.5% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Logistics industry in Thailand. Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ฿7.25, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Logistics industry in Asia. Total loss to shareholders of 30% over the past year. New Risk • Jul 07
New major 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 8.7% 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 Risk Earnings are forecast to decline by an average of 15% 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. Share price has been volatile over the past 3 months (8.7% average weekly change). Market cap is less than US$100m (฿2.21b market cap, or US$62.9m). Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ฿7.30, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Logistics industry in Asia. Total loss to shareholders of 41% over the past year. Reported Earnings • May 18
First quarter 2023 earnings released: EPS: ฿0.06 (vs ฿0.28 in 1Q 2022) First quarter 2023 results: EPS: ฿0.06 (down from ฿0.28 in 1Q 2022). Revenue: ฿332.3m (down 80% from 1Q 2022). Net income: ฿19.0m (down 79% from 1Q 2022). Profit margin: 5.7% (up from 5.4% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Logistics industry in Thailand. Upcoming Dividend • May 02
Upcoming dividend of ฿0.20 per share at 5.3% yield Eligible shareholders must have bought the stock before 09 May 2023. Payment date: 26 May 2023. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 5.3%. Lower than top quartile of Thai dividend payers (6.2%). Lower than average of industry peers (6.9%). Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ฿7.60, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Logistics industry in Asia. Total loss to shareholders of 42% over the past year. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ฿9.40, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 13x in the Logistics industry in Asia. Total loss to shareholders of 29% over the past year. Major Estimate Revision • Feb 22
Consensus revenue estimates fall by 54% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ฿5.24b to ฿2.43b. EPS estimate fell from ฿1.14 to ฿0.47 per share. Net income forecast to shrink 47% next year vs 14% growth forecast for Logistics industry in Thailand . Consensus price target down from ฿13.20 to ฿9.80. Share price rose 2.5% to ฿12.10 over the past week. Reported Earnings • Nov 19
Third quarter 2022 earnings released: EPS: ฿0.34 (vs ฿0.16 in 3Q 2021) Third quarter 2022 results: EPS: ฿0.34 (up from ฿0.16 in 3Q 2021). Revenue: ฿1.02b (down 5.7% from 3Q 2021). Net income: ฿107.4m (up 106% from 3Q 2021). Profit margin: 11% (up from 4.8% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is expected to decline by 4.0% p.a. on average during the next 3 years, while revenues in the Logistics industry in Thailand are expected to grow by 19%. Price Target Changed • Nov 16
Price target decreased to ฿16.95 Down from ฿21.80, the current price target is an average from 2 analysts. New target price is 31% above last closing price of ฿12.90. Stock is up 13% over the past year. The company is forecast to post earnings per share of ฿1.17 for next year compared to ฿0.62 last year. Board Change • Nov 16
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. 9 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Price Target Changed • Nov 11
Price target decreased to ฿16.95 Down from ฿21.80, the current price target is an average from 2 analysts. New target price is 31% above last closing price of ฿12.90. Stock is up 9.3% over the past year. The company is forecast to post earnings per share of ฿1.06 for next year compared to ฿0.62 last year. Major Estimate Revision • Aug 21
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from ฿4.87b to ฿5.73b. EPS estimate unchanged from ฿0.89 at last update. Logistics industry in Thailand expected to see average net income growth of 19% next year. Consensus price target broadly unchanged at ฿21.75. Share price rose 4.0% to ฿12.90 over the past week. Upcoming Dividend • Aug 19
Upcoming dividend of ฿0.20 per share Eligible shareholders must have bought the stock before 26 August 2022. Payment date: 09 September 2022. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Thai dividend payers (5.4%). Higher than average of industry peers (2.7%). Price Target Changed • Aug 17
Price target decreased to ฿17.90 Down from ฿20.70, the current price target is an average from 2 analysts. New target price is 40% above last closing price of ฿12.80. Stock is up 10% over the past year. The company is forecast to post earnings per share of ฿0.89 for next year compared to ฿0.62 last year. Reported Earnings • Aug 16
Second quarter 2022 earnings released: EPS: ฿0.31 (vs ฿0.13 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.31 (up from ฿0.13 in 2Q 2021). Revenue: ฿1.34b (up 139% from 2Q 2021). Net income: ฿99.8m (up 134% from 2Q 2021). Profit margin: 7.5% (down from 7.6% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is expected to shrink by 7.3% compared to a 3.7% growth forecast for the Logistics industry in Thailand. Reported Earnings • May 15
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: ฿0.28 (up from ฿0.084 in 1Q 2021). Revenue: ฿1.65b (up 249% from 1Q 2021). Net income: ฿89.9m (up 233% from 1Q 2021). Profit margin: 5.4% (down from 5.7% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) exceeded analyst estimates by 3.5%. Over the next year, revenue is expected to shrink by 7.0% compared to a 4.5% growth forecast for the industry in Thailand. Upcoming Dividend • May 02
Upcoming dividend of ฿0.18 per share Eligible shareholders must have bought the stock before 09 May 2022. Payment date: 26 May 2022. Payout ratio is a comfortable 40% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Thai dividend payers (5.1%). In line with average of industry peers (2.5%). Price Target Changed • Apr 27
Price target increased to ฿20.70 Up from ฿17.00, the current price target is an average from 2 analysts. New target price is 52% above last closing price of ฿13.60. Stock is up 93% over the past year. The company is forecast to post earnings per share of ฿0.86 for next year compared to ฿0.62 last year. 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. 9 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Feb 22
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: ฿0.62 (up from ฿0.26 in FY 2020). Revenue: ฿3.37b (up 199% from FY 2020). Net income: ฿198.8m (up 250% from FY 2020). Profit margin: 5.9% (up from 5.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) exceeded analyst estimates by 3.6%. Over the next year, revenue is expected to shrink by 3.8% compared to a 13% growth forecast for the industry in Thailand. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ฿14.90, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 27x in the Logistics industry in Thailand. Total returns to shareholders of 136% over the past year. Simply Wall St's valuation model estimates the intrinsic value at ฿24.13 per share. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS ฿0.16 (vs ฿0.074 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: ฿1.09b (up 331% from 3Q 2020). Net income: ฿52.3m (up 253% from 3Q 2020). Profit margin: 4.8% (down from 5.9% in 3Q 2020). The decrease in margin was driven by higher expenses. Upcoming Dividend • Aug 18
Upcoming dividend of ฿0.07 per share Eligible shareholders must have bought the stock before 25 August 2021. Payment date: 09 September 2021. Trailing yield: 0.6%. Lower than top quartile of Thai dividend payers (5.1%). Lower than average of industry peers (1.9%). Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS ฿0.13 (vs ฿0.094 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿559.6m (up 81% from 2Q 2020). Net income: ฿42.7m (up 127% from 2Q 2020). Profit margin: 7.6% (up from 6.1% in 2Q 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improved over the past week After last week's 17% share price gain to ฿12.50, the stock trades at a forward P/E ratio of 50x. Average forward P/E is 36x in the Logistics industry in Thailand. Simply Wall St's valuation model estimates the intrinsic value at ฿9.36 per share. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improved over the past week After last week's 17% share price gain to ฿9.85, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 28x in the Logistics industry in Thailand. Simply Wall St's valuation model estimates the intrinsic value at ฿8.27 per share. Reported Earnings • May 16
First quarter 2021 earnings released: EPS ฿0.084 (vs ฿0.047 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿473.9m (up 108% from 1Q 2020). Net income: ฿27.0m (up 190% from 1Q 2020). Profit margin: 5.7% (up from 4.1% in 1Q 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • May 12
Investor sentiment improved over the past week After last week's 19% share price gain to ฿8.20, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 30x in the Logistics industry in Thailand. Simply Wall St's valuation model estimates the intrinsic value at ฿8.26 per share. Is New 90 Day High Low • Feb 24
New 90-day high: ฿6.80 The company is up 12% from its price of ฿6.05 on 26 November 2020. The Thai market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Logistics industry, which is up 22% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿2.63 per share. Reported Earnings • Nov 23
Third quarter 2020 earnings released: EPS ฿0.07 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿252.3m (up 5.2% from 3Q 2019). Net income: ฿14.8m (up 175% from 3Q 2019). Profit margin: 5.9% (up from 2.2% in 3Q 2019). The increase in margin was driven by higher revenue. Reported Earnings • Nov 16
Third quarter 2020 earnings released: EPS ฿0.075 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿253.0m (up 5.5% from 3Q 2019). Net income: ฿15.1m (up 181% from 3Q 2019). Profit margin: 6.0% (up from 2.2% in 3Q 2019). The increase in margin was driven by higher revenue. Annonce • Nov 06
Leo Global Logistics Public Company Limited has completed an IPO in the amount of THB 410.4 million. Leo Global Logistics Public Company Limited has completed an IPO in the amount of THB 410.4 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 120,000,000
Price\Range: THB 3.42
Transaction Features: Reserved Share Offering