Reported Earnings • Jul 22
Second quarter 2026 earnings released: EPS: ฿0.033 (vs ฿0.026 in 2Q 2025) Second quarter 2026 results: EPS: ฿0.033 (up from ฿0.026 in 2Q 2025). Revenue: ฿2.19b (up 20% from 2Q 2025). Net income: ฿696.1m (up 26% from 2Q 2025). Profit margin: 32% (up from 30% in 2Q 2025). The increase in margin was driven by higher revenue. 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. Annuncio • Jun 10
Lh Financial Group Public Company Limited Announces Appointment of Jiang-Hong Liu as Director, Effective June 9, 2026 LH Financial Group Public Company Limited had appointed Jiang-Hong Liu as Director. The board resolution was passed on June 9, 2026. The effective date of appointment was June 9, 2026. Upcoming Dividend • Apr 20
Upcoming dividend of ฿0.05 per share Eligible shareholders must have bought the stock before 27 April 2026. Payment date: 15 May 2026. Payout ratio is a comfortable 40% but the company is not cash flow positive. Trailing yield: 5.4%. Lower than top quartile of Thai dividend payers (7.4%). Lower than average of industry peers (6.4%). Reported Earnings • Apr 18
First quarter 2026 earnings released: EPS: ฿0.04 (vs ฿0.027 in 1Q 2025) First quarter 2026 results: EPS: ฿0.04 (up from ฿0.027 in 1Q 2025). Revenue: ฿2.27b (up 24% from 1Q 2025). Net income: ฿842.5m (up 48% from 1Q 2025). Profit margin: 37% (up from 31% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Apr 17
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to ฿1.10. The fair value is estimated to be ฿0.91, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 14%. Reported Earnings • Feb 26
Full year 2025 earnings released: EPS: ฿0.14 (vs ฿0.097 in FY 2024) Full year 2025 results: EPS: ฿0.14 (up from ฿0.097 in FY 2024). Revenue: ฿8.40b (up 22% from FY 2024). Net income: ฿2.89b (up 41% from FY 2024). Profit margin: 34% (up from 30% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Declared Dividend • Feb 25
Final dividend of ฿0.05 announced Shareholders will receive a dividend of ฿0.05. Ex-date: 27th April 2026 Payment date: 15th May 2026 Dividend yield will be 6.0%, which is higher than the industry average of 4.6%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 6.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Annuncio • Feb 24
Lh Financial Group Public Company Limited Proposes Cash Dividend for the Year Ended December 31, 2025, Payable on May 15, 2026 Lh Financial Group Public Company Limited announced at the AGM to be held on April 20, 2026, proposed cash dividend of THB 0.05 per share for the Year Ended December 31, 2025, Payable on May 15, 2026. Ex-dividend date is April 27, 2026. Record date for the right to receive dividends is April 28, 2026. Annuncio • Feb 23
LH Financial Group Public Company Limited, Annual General Meeting, Apr 20, 2026 LH Financial Group Public Company Limited, Annual General Meeting, Apr 20, 2026, at 13:30 SE Asia Standard Time. Location: sathorn 1 meeting room, 4th floor, 1 q.house, lumpini building, south sathon road, thungmahamek, sathon, bangkok 10120 Thailand Annuncio • Feb 14
LH Financial Group Public Company Limited Announces Resignation of Hwang, Sheng-Wen as Director, Effective February 13, 2026 LH Financial Group Public Company Limited announced that Mr. Hwang, Sheng-Wen has resigned from the company’s director, effective from February 13, 2026. Reported Earnings • Jan 16
Full year 2025 earnings released: EPS: ฿0.14 (vs ฿0.097 in FY 2024) Full year 2025 results: EPS: ฿0.14 (up from ฿0.097 in FY 2024). Revenue: ฿8.40b (up 22% from FY 2024). Net income: ฿2.89b (up 41% from FY 2024). Profit margin: 34% (up from 30% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 16
Third quarter 2025 earnings released: EPS: ฿0.044 (vs ฿0.027 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.044 (up from ฿0.027 in 3Q 2024). Revenue: ฿2.38b (up 34% from 3Q 2024). Net income: ฿924.6m (up 60% from 3Q 2024). Profit margin: 39% (up from 33% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 17
Third quarter 2025 earnings released: EPS: ฿0.044 (vs ฿0.027 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.044 (up from ฿0.027 in 3Q 2024). Revenue: ฿2.38b (up 34% from 3Q 2024). Net income: ฿924.6m (up 60% from 3Q 2024). Profit margin: 39% (up from 33% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Upcoming Dividend • Aug 29
Upcoming dividend of ฿0.01 per share Eligible shareholders must have bought the stock before 05 September 2025. Payment date: 23 September 2025. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Thai dividend payers (7.9%). Lower than average of industry peers (6.3%). Reported Earnings • Aug 27
Second quarter 2025 earnings released: EPS: ฿0.026 (vs ฿0.023 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.026 (up from ฿0.023 in 2Q 2024). Revenue: ฿1.83b (up 9.3% from 2Q 2024). Net income: ฿551.0m (up 12% from 2Q 2024). Profit margin: 30% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 22
Second quarter 2025 earnings released: EPS: ฿0.026 (vs ฿0.023 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.026 (up from ฿0.023 in 2Q 2024). Revenue: ฿1.83b (up 9.2% from 2Q 2024). Net income: ฿551.0m (up 12% from 2Q 2024). Profit margin: 30% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Annuncio • Jul 02
LH Financial Group Public Company Limited Announces Resignation of Khunawut Thumpomkul as Director, Effective from July 1, 2025 LH Financial Group Public Company Limited informed that Mr. Khunawut Thumpomkul has resigned from the company's director, effective from July 1, 2025 onwards. Upcoming Dividend • Apr 21
Upcoming dividend of ฿0.03 per share Eligible shareholders must have bought the stock before 28 April 2025. Payment date: 16 May 2025. Payout ratio is a comfortable 27% but the company is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of Thai dividend payers (7.9%). Lower than average of industry peers (6.9%). Reported Earnings • Apr 18
First quarter 2025 earnings released: EPS: ฿0.033 (vs ฿0.019 in 1Q 2024) First quarter 2025 results: EPS: ฿0.033 (up from ฿0.019 in 1Q 2024). Revenue: ฿1.99b (up 28% from 1Q 2024). Net income: ฿695.8m (up 74% from 1Q 2024). Profit margin: 35% (up from 26% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Declared Dividend • Feb 26
Dividend of ฿0.03 announced Shareholders will receive a dividend of ฿0.03. Ex-date: 28th April 2025 Payment date: 16th May 2025 Dividend yield will be 3.9%, which is lower than the industry average of 4.6%. Sustainability & Growth The dividend has increased by an average of 24% 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 decline by 66% to shift the payout ratio to a potentially unsustainable range, which is more than the 8.6% EPS decline seen over the last 5 years. Annuncio • Feb 25
LH Financial Group Public Company Limited, Annual General Meeting, Apr 21, 2025 LH Financial Group Public Company Limited, Annual General Meeting, Apr 21, 2025, at 13:30 SE Asia Standard Time. Location: at sathorn meeting room 1, 4th floor, q.house lumpini building, south sathon road, thungmahamek, sathon, bangkok 10120. Thailand Reported Earnings • Jan 17
Full year 2024 earnings released: EPS: ฿0.097 (vs ฿0.099 in FY 2023) Full year 2024 results: EPS: ฿0.097 (down from ฿0.099 in FY 2023). Revenue: ฿6.87b (up 4.6% from FY 2023). Net income: ฿2.05b (down 2.4% from FY 2023). Profit margin: 30% (down from 32% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Sep 12
Now 21% overvalued Over the last 90 days, the stock has fallen 8.1% to ฿0.91. The fair value is estimated to be ฿0.75, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 9.3%. Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: ฿0.023 (vs ฿0.025 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.023 (down from ฿0.025 in 2Q 2023). Revenue: ฿1.67b (up 2.7% from 2Q 2023). Net income: ฿491.4m (down 7.6% from 2Q 2023). Profit margin: 29% (down from 33% in 2Q 2023). The decrease in margin was driven by higher expenses. 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 7% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Aug 21
Now 21% overvalued Over the last 90 days, the stock has fallen 8.2% to ฿0.90. The fair value is estimated to be ฿0.74, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 9.3%. Annuncio • Jul 23
LH Financial Group Public Company Limited to Report First Half, 2024 Results on Jul 25, 2024 LH Financial Group Public Company Limited announced that they will report first half, 2024 results on Jul 25, 2024 Reported Earnings • Jul 21
Second quarter 2024 earnings released: EPS: ฿0.023 (vs ฿0.025 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.023 (down from ฿0.025 in 2Q 2023). Revenue: ฿1.67b (up 3.6% from 2Q 2023). Net income: ฿491.4m (down 7.6% from 2Q 2023). Profit margin: 29% (down from 33% in 2Q 2023). The decrease in margin was driven by higher expenses. 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 7% per year, which means it is significantly lagging earnings. Annuncio • Apr 23
LH Financial Group Public Company Limited Approves Cash Dividend for the Year 2023, Payable on May 17, 2024 LH Financial Group Public Company Limited announced at annual general meeting held on April 22, 2024, the shareholders approved the allocation of net profit for the year 2023 to the statutory reserve and dividend payment as follows: Allocated the net profit of 2023 in the amount of THB 37,500,000.00 to the statutory reserve, which is not less than 5% of the annual net profit. Paid the cash dividend at THB 0.030 per share, in the total amount of THB 635,509,817.82. The company will determine the names of shareholders who have rights to receive the dividend on April 30, 2024 (record date) and the dividend payment will be made on May 17, 2024. Upcoming Dividend • Apr 22
Upcoming dividend of ฿0.03 per share Eligible shareholders must have bought the stock before 29 April 2024. Payment date: 17 May 2024. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Thai dividend payers (6.0%). Lower than average of industry peers (6.1%). Reported Earnings • Apr 18
First quarter 2024 earnings released: EPS: ฿0.019 (vs ฿0.032 in 1Q 2023) First quarter 2024 results: EPS: ฿0.019 (down from ฿0.032 in 1Q 2023). Revenue: ฿1.54b (down 10% from 1Q 2023). Net income: ฿399.2m (down 40% from 1Q 2023). Profit margin: 26% (down from 39% in 1Q 2023). The decrease in margin was primarily 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 5% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 27
Full year 2023 earnings released: EPS: ฿0.099 (vs ฿0.075 in FY 2022) Full year 2023 results: EPS: ฿0.099 (up from ฿0.075 in FY 2022). Revenue: ฿6.57b (up 21% from FY 2022). Net income: ฿2.10b (up 33% from FY 2022). Profit margin: 32% (up from 29% in FY 2022). The increase in margin was driven by higher revenue. Net interest margin (NIM): 2.87% (up from 2.86% in FY 2022). Non-performing loans: 2.64% (up from 2.43% in FY 2022). Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 3% per year. Declared Dividend • Feb 25
Dividend increased to ฿0.03 Dividend of ฿0.03 is 200% higher than last year. Ex-date: 29th April 2024 Payment date: 17th May 2024 Dividend yield will be 3.0%, which is lower than the industry average of 4.6%. Annuncio • Feb 24
LH Financial Group Public Company Limited, Annual General Meeting, Apr 22, 2024 LH Financial Group Public Company Limited, Annual General Meeting, Apr 22, 2024, at 13:30 SE Asia Standard Time. Location: Sathorn Meeting Room 1, 4th Floor, Q.House Lumpini Building, South Sathon Road, Thungmahamek, Sathon Bangkok Thailand Agenda: To consider and acknowledge the company's performance of the year 2023; to consider and approve the statements of financial position and the statements of comprehensive income for the year ended December 31, 2023; to consider and approve the allocation of net profit for the year 2023 to the statutory reserve and dividend payment; to consider and approve the appointment of directors to replace those retired by rotation; to consider and approve the directors' remuneration; to consider and approve the appointment of auditors and audit fee for the year 2024; and to consider any other matters. Annuncio • Feb 23
LH Financial Group Public Company Limited Proposes Dividend for the Year 2023, Payable on May 17, 2024 LH Financial Group Public Company Limited at its board of directors meeting held on February 23, 2024, proposed to pay cash dividend at THB 0.030 per share, in the total amount of THB 635,509,817.82. The company will determine the names of shareholders who have rights to receive the dividend on April 30, 2024 (Record Date) and the dividend payment will be made on May 17, 2024. Reported Earnings • Jan 16
Full year 2023 earnings released: EPS: ฿0.099 (vs ฿0.075 in FY 2022) Full year 2023 results: EPS: ฿0.099 (up from ฿0.075 in FY 2022). Revenue: ฿6.57b (up 21% from FY 2022). Net income: ฿2.10b (up 33% from FY 2022). Profit margin: 32% (up from 29% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 1% per year. Annuncio • Nov 02
LH Financial Group Public Company Limited Announces Executive Changes LH Financial Group Public Company Limited announced termination of Mr. Thanaphon Apichartsatien from the position of Chief Accountant: Head of Financial Controller, Effective Date of Termination is 01 November 2023; and appointed Mr. Waravoot Tocharoentanapol to the position of Chief Accountant: Head of Finance and Accounting Group, Effective Date of Appointment 01 November 2023. Reported Earnings • Oct 20
Third quarter 2023 earnings released: EPS: ฿0.026 (vs ฿0.023 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.026 (up from ฿0.023 in 3Q 2022). Revenue: ฿1.66b (up 12% from 3Q 2022). Net income: ฿542.7m (up 11% from 3Q 2022). Profit margin: 33% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: ฿0.025 (vs ฿0.011 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.025 (up from ฿0.011 in 2Q 2022). Revenue: ฿1.62b (up 43% from 2Q 2022). Net income: ฿532.0m (up 128% from 2Q 2022). Profit margin: 33% (up from 21% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Annuncio • Jul 25
LH Financial Group Public Company Limited to Report First Half, 2023 Results on Jul 26, 2023 LH Financial Group Public Company Limited announced that they will report first half, 2023 results on Jul 26, 2023 Reported Earnings • Jul 21
Second quarter 2023 earnings released: EPS: ฿0.025 (vs ฿0.011 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.025 (up from ฿0.011 in 2Q 2022). Revenue: ฿1.62b (up 43% from 2Q 2022). Net income: ฿532.0m (up 128% from 2Q 2022). Profit margin: 33% (up from 21% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Annuncio • Jul 06
LH Financial Group Public Company Limited Approves Board Changes LH Financial Group Public Company Limited announced that the board of directors Meeting held on 19 June 2023 has passed the resolution to appoint Mr. Lee, Yu-Chou in place of Mr. Li, Ming-Shieh who had resigned. His appointment has been effective since 3 July 2023. Annuncio • Jul 04
LH Financial Group Public Company Limited Announces Resignation of Li, Ming-Shieh as Director LH Financial Group Public Company Limited announced that the company has received the resignation letter of Mr. Li, Ming-Shieh, director. His resignation shall be effective from July 1, 2023 onwards. Upcoming Dividend • Apr 25
Upcoming dividend of ฿0.01 per share at 0.9% yield Eligible shareholders must have bought the stock before 02 May 2023. Payment date: 19 May 2023. Payout ratio is a comfortable 12% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of Thai dividend payers (6.0%). Lower than average of industry peers (4.2%). Reported Earnings • Apr 23
First quarter 2023 earnings released: EPS: ฿0.032 (vs ฿0.024 in 1Q 2022) First quarter 2023 results: EPS: ฿0.032 (up from ฿0.024 in 1Q 2022). Revenue: ฿1.72b (up 19% from 1Q 2022). Net income: ฿669.9m (up 31% from 1Q 2022). Profit margin: 39% (up from 36% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Reported Earnings • Jan 22
Full year 2022 earnings released: EPS: ฿0.075 (vs ฿0.066 in FY 2021) Full year 2022 results: EPS: ฿0.075 (up from ฿0.066 in FY 2021). Revenue: ฿5.42b (up 13% from FY 2021). Net income: ฿1.58b (up 14% from FY 2021). Profit margin: 29% (in line with FY 2021). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Annuncio • Jan 04
Lh Financial Group Public Company Limited Announces Changes in CFO LH Financial Group Public Company Limited announced Change in CFO /Chief Accounting. Position of CFO: Head of Finance and Accounting Group: Name Yu-Jen Lin. Effective Date of Termination 01-Jan-2023. Position of CFO: head of Finance and Accounting Group. Name: Waravoot Tocharoentanapol. Effective Date of Appointment 01-Jan-2023. Reported Earnings • Nov 19
Third quarter 2022 earnings released: EPS: ฿0.023 (vs ฿0.034 in 3Q 2021) Third quarter 2022 results: EPS: ฿0.023 (down from ฿0.034 in 3Q 2021). Revenue: ฿1.49b (down 9.8% from 3Q 2021). Net income: ฿489.0m (down 32% from 3Q 2021). Profit margin: 33% (down from 44% in 3Q 2021). The decrease in margin was primarily driven by lower revenue. 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 7% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Piphob Veraphong was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 21
Third quarter 2022 earnings released: EPS: ฿0.023 (vs ฿0.034 in 3Q 2021) Third quarter 2022 results: EPS: ฿0.023 (down from ฿0.034 in 3Q 2021). Revenue: ฿1.49b (down 9.8% from 3Q 2021). Net income: ฿489.0m (down 32% from 3Q 2021). Profit margin: 33% (down from 44% in 3Q 2021). The decrease in margin was primarily driven by lower revenue. 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 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Jul 20
Second quarter 2022 earnings released: EPS: ฿0.011 (vs ฿0.023 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.011 (down from ฿0.023 in 2Q 2021). Revenue: ฿1.13b (down 16% from 2Q 2021). Net income: ฿233.2m (down 51% from 2Q 2021). Profit margin: 21% (down from 36% in 2Q 2021). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Reported Earnings • May 14
First quarter 2022 earnings released: EPS: ฿0.02 (vs ฿0.027 in 1Q 2021) First quarter 2022 results: EPS: ฿0.02 (down from ฿0.027 in 1Q 2021). Revenue: ฿1.44b (up 1.4% from 1Q 2021). Net income: ฿511.7m (down 8.7% from 1Q 2021). Profit margin: 36% (down from 39% in 1Q 2021). The decrease in margin was driven by higher expenses. 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 6% per year, which means it has not declined as severely as earnings. Buying Opportunity • May 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.0%. The fair value is estimated to be ฿1.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Earnings per share has declined by 24%. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Pichai Dusdeekulchai was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 20
Upcoming dividend of ฿0.01 per share Eligible shareholders must have bought the stock before 27 April 2022. Payment date: 18 May 2022. Payout ratio is a comfortable 61% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of Thai dividend payers (5.1%). Lower than average of industry peers (3.8%). Reported Earnings • Mar 01
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ฿0.066 (down from ฿0.098 in FY 2020). Revenue: ฿4.80b (down 12% from FY 2020). Net income: ฿1.38b (down 33% from FY 2020). Profit margin: 29% (down from 38% in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improved over the past week After last week's 17% share price gain to ฿1.61, the stock trades at a trailing P/E ratio of 24.6x. Average trailing P/E is 11x in the Banks industry in Thailand. Total returns to shareholders of 26% over the past three years. Reported Earnings • Jan 18
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ฿0.066 (down from ฿0.098 in FY 2020). Revenue: ฿4.80b (down 12% from FY 2020). Net income: ฿1.38b (down 33% from FY 2020). Profit margin: 29% (down from 38% in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Oct 23
Third quarter 2021 earnings released: EPS ฿0.034 (vs ฿0.025 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿1.65b (up 24% from 3Q 2020). Net income: ฿718.7m (up 37% from 3Q 2020). Profit margin: 44% (up from 39% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improved over the past week After last week's 15% share price gain to ฿1.60, the stock trades at a trailing P/E ratio of 19.2x. Average trailing P/E is 11x in the Banks industry in Thailand. Total returns to shareholders of 22% over the past three years. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment improved over the past week After last week's 31% share price gain to ฿1.49, the stock trades at a trailing P/E ratio of 17.7x. Average trailing P/E is 11x in the Banks industry in Thailand. Total returns to shareholders of 9.1% over the past three years. Upcoming Dividend • Sep 03
Upcoming dividend of ฿0.03 per share Eligible shareholders must have bought the stock before 10 September 2021. Payment date: 27 September 2021. Trailing yield: 4.9%. Within top quartile of Thai dividend payers (4.9%). Higher than average of industry peers (2.6%). Reported Earnings • Sep 01
Second quarter 2021 earnings released: EPS ฿0.023 (vs ฿0.024 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: ฿1.34b (up 5.7% from 2Q 2020). Net income: ฿477.5m (down 4.7% from 2Q 2020). Profit margin: 36% (down from 40% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 11% per year. Reported Earnings • Jul 20
Second quarter 2021 earnings released: EPS ฿0.023 (vs ฿0.024 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: ฿1.34b (up 5.7% from 2Q 2020). Net income: ฿477.5m (down 4.7% from 2Q 2020). Profit margin: 36% (down from 40% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 11% per year. Reported Earnings • May 22
First quarter 2021 earnings released: EPS ฿0.027 (vs ฿0.039 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿1.42b (down 18% from 1Q 2020). Net income: ฿560.5m (down 32% from 1Q 2020). Profit margin: 39% (down from 48% in 1Q 2020). The decrease in margin was driven by lower revenue. 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 12% per year. Executive Departure • Apr 30
CEO, President & Executive Director Sasitorn Phongsathorn has left the company On the 30th of April, Sasitorn Phongsathorn's tenure as CEO, President & Executive Director of the company ended after 3.2 years in the role. We don't have any record of a personal shareholding under Sasitorn's name. A total of 2 executives have left over the last 12 months. Under Sasitorn's leadership, the company delivered a total shareholder return of -20%. Upcoming Dividend • Apr 28
Upcoming dividend of ฿0.04 per share Eligible shareholders must have bought the stock before 05 May 2021. Payment date: 21 May 2021. Trailing yield: 3.4%. Lower than top quartile of Thai dividend payers (4.9%). Higher than average of industry peers (2.9%). Reported Earnings • Apr 21
First quarter 2021 earnings released: EPS ฿0.027 (vs ฿0.039 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿1.42b (down 18% from 1Q 2020). Net income: ฿560.5m (down 32% from 1Q 2020). Profit margin: 39% (down from 48% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year and the company’s share price has also fallen by 11% per year. Is New 90 Day High Low • Mar 08
New 90-day high: ฿1.18 The company is up 4.0% from its price of ฿1.13 on 08 December 2020. The Thai market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 18% over the same period. Reported Earnings • Mar 01
Full year 2020 earnings released: EPS ฿0.098 (vs ฿0.15 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿5.44b (down 20% from FY 2019). Net income: ฿2.06b (down 36% from FY 2019). Profit margin: 38% (down from 47% in FY 2019). The decrease in margin was driven by lower revenue. Net interest margin (NIM): 2.68% (up from 2.65% in FY 2019). Non-performing loans: 3.34% (up from 1.80% in FY 2019). 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 13% per year, which means it is performing significantly worse than earnings. Reported Earnings • Jan 19
Full year 2020 earnings released: EPS ฿98.14 The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿5.44b (down 20% from FY 2019). Net income: ฿2.06b (down 36% from FY 2019). Profit margin: 38% (down from 47% 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 168% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Dec 08
New 90-day high: ฿1.13 The company is up 26% from its price of ฿0.90 on 09 September 2020. The Thai market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 25% over the same period. Is New 90 Day High Low • Nov 16
New 90-day high: ฿1.00 The company is up 2.0% from its price of ฿0.98 on 18 August 2020. The Thai market is also up 2.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Banks industry, which is up 8.0% over the same period. Reported Earnings • Oct 20
Third quarter earnings released Over the last 12 months the company has reported total profits of ฿2.73b, down 12% from the prior year. Total revenue was ฿6.17b over the last 12 months, down 6.1% from the prior year. Price Target Changed • Oct 20
Price target lowered to ฿0.88 Down from ฿1.10, the current price target is provided by 1 analyst. The new target price is close to the current share price of ฿0.85. As of last close, the stock is down 35% over the past year. Is New 90 Day High Low • Oct 19
New 90-day low: ฿0.86 The company is down 15% from its price of ฿1.01 on 21 July 2020. The Thai market is down 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is down 13% over the same period. Is New 90 Day High Low • Sep 23
New 90-day low: ฿0.88 The company is down 18% from its price of ฿1.07 on 24 June 2020. The Thai market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is down 11% over the same period. 
