Upcoming Dividend • Apr 14
Upcoming dividend of ฿0.10 per share Eligible shareholders must have bought the stock before 21 April 2026. Payment date: 07 May 2026. Payout ratio is a comfortable 68% but the company is paying out more than the cash it is generating. Trailing yield: 3.1%. Lower than top quartile of Thai dividend payers (7.4%). Lower than average of industry peers (4.7%). Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ฿3.32, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 11x in the Consumer Services industry in Thailand. Total loss to shareholders of 53% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿3.35 per share. Declared Dividend • Feb 28
Dividend of ฿0.10 announced Dividend of ฿0.10 is the same as last year. Ex-date: 21st April 2026 Payment date: 7th May 2026 Dividend yield will be 2.6%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by earnings (57% earnings payout ratio) but not covered by cash flows (119% cash payout ratio). The dividend has increased by an average of 25% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 27
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: ฿0.15 (down from ฿0.24 in FY 2024). Revenue: ฿1.65b (down 1.2% from FY 2024). Net income: ฿188.7m (down 39% from FY 2024). Profit margin: 12% (down from 19% in FY 2024). The decrease in margin was primarily driven by higher expenses. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 6.5%. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Consumer Services industry in Asia. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Feb 20
Now 20% undervalued Over the last 90 days, the stock has risen 32% to ฿3.84. The fair value is estimated to be ฿4.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 8.4% per annum. Earnings are also forecast to grow by 7.2% per annum over the same time period. New Risk • Feb 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 5.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (24% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (5.9% average weekly change). Profit margins are more than 30% lower than last year (14% net profit margin). Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ฿3.74, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 13x in the Consumer Services industry in Asia. Total loss to shareholders of 49% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿4.76 per share. Major Estimate Revision • Nov 21
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ฿1.58b to ฿1.56b. EPS estimate also fell from ฿0.166 per share to ฿0.147 per share. Net income forecast to shrink 0.02% next year vs 14% growth forecast for Consumer Services industry in Thailand . Consensus price target broadly unchanged at ฿4.29. Share price rose 9.0% to ฿2.92 over the past week. Reported Earnings • Nov 16
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: ฿0.036 (down from ฿0.064 in 3Q 2024). Revenue: ฿414.1m (down 6.0% from 3Q 2024). Net income: ฿46.1m (down 44% from 3Q 2024). Profit margin: 11% (down from 19% in 3Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Consumer Services industry in Asia. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. New Risk • Aug 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 7.0% 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 cash flows (108% cash payout ratio). Share price has been volatile over the past 3 months (7.0% average weekly change). Valuation Update With 7 Day Price Move • Aug 27
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ฿3.08, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Consumer Services industry in Asia. Total loss to shareholders of 52% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿5.44 per share. Reported Earnings • Aug 08
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: ฿0.012 loss per share (down from ฿0.048 profit in 2Q 2024). Net loss: ฿15.3m (down 125% from profit in 2Q 2024). Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Consumer Services industry in Asia. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging 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 ฿3.50, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Consumer Services industry in Asia. Total loss to shareholders of 35% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿5.65 per share. Price Target Changed • Jun 18
Price target decreased by 21% to ฿4.59 Down from ฿5.80, the current price target is an average from 7 analysts. New target price is 56% above last closing price of ฿2.94. Stock is down 57% over the past year. The company is forecast to post earnings per share of ฿0.19 for next year compared to ฿0.24 last year. Price Target Changed • May 28
Price target decreased by 9.2% to ฿5.61 Down from ฿6.19, the current price target is an average from 7 analysts. New target price is 87% above last closing price of ฿3.00. Stock is down 57% over the past year. The company is forecast to post earnings per share of ฿0.18 for next year compared to ฿0.24 last year. New Risk • May 19
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 3.2% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. 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. New Risk • May 17
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 148% 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. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 148% per year for the foreseeable future. Minor Risk Profit margins are more than 30% lower than last year (13% net profit margin). Major Estimate Revision • May 16
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ฿1.75b to ฿1.54b. EPS estimate fell from ฿0.239 to ฿0.155 per share. Net income forecast to shrink 1.1% next year vs 19% growth forecast for Consumer Services industry in Thailand . Consensus price target down from ฿6.19 to ฿5.80. Share price fell 7.6% to ฿3.18 over the past week. Valuation Update With 7 Day Price Move • May 14
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ฿3.26, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the Consumer Services industry in Asia. Total loss to shareholders of 35% over the past three years. Price Target Changed • May 08
Price target decreased by 17% to ฿6.19 Down from ฿7.44, the current price target is an average from 7 analysts. New target price is 72% above last closing price of ฿3.60. Stock is down 55% over the past year. The company is forecast to post earnings per share of ฿0.24 for next year compared to ฿0.24 last year. Price Target Changed • May 06
Price target decreased by 8.4% to ฿7.04 Down from ฿7.69, the current price target is an average from 7 analysts. New target price is 87% above last closing price of ฿3.76. Stock is down 52% over the past year. The company is forecast to post earnings per share of ฿0.26 for next year compared to ฿0.24 last year. Annuncio • Apr 17
Siam Wellness Group Public Company Limited Approves Board Committee Appointments Siam Wellness Group Public Company Limited announced that at its AGM held on 17 April 2025, approved election of Mr. Wiboon Utsahajit as Chairman of Executive Committee; Mrs. Kobboon Srichai as Chairwoman of Risk Committee, Member of Audit Committee and Member of Governance and Sustainability Committee; Mrs. Thanit Amorntirasan as Member of Governance and Sustainability Committee. Price Target Changed • Apr 17
Price target decreased by 9.9% to ฿7.44 Down from ฿8.26, the current price target is an average from 7 analysts. New target price is 85% above last closing price of ฿4.02. Stock is down 54% over the past year. The company is forecast to post earnings per share of ฿0.27 for next year compared to ฿0.24 last year. Upcoming Dividend • Apr 16
Upcoming dividend of ฿0.10 per share Eligible shareholders must have bought the stock before 23 April 2025. Payment date: 15 May 2025. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Thai dividend payers (8.1%). Lower than average of industry peers (4.7%). Price Target Changed • Apr 08
Price target decreased by 11% to ฿7.69 Down from ฿8.66, the current price target is an average from 7 analysts. New target price is 102% above last closing price of ฿3.80. Stock is down 57% over the past year. The company is forecast to post earnings per share of ฿0.27 for next year compared to ฿0.24 last year. Price Target Changed • Feb 24
Price target decreased by 9.0% to ฿8.96 Down from ฿9.85, the current price target is an average from 8 analysts. New target price is 68% above last closing price of ฿5.35. Stock is down 42% over the past year. The company is forecast to post earnings per share of ฿0.28 for next year compared to ฿0.24 last year. Declared Dividend • Feb 24
Dividend of ฿0.10 announced Shareholders will receive a dividend of ฿0.10. Ex-date: 23rd April 2025 Payment date: 15th May 2025 Dividend yield will be 1.9%, which is lower than the industry average of 3.0%. Payout Ratios Payout ratio: 3%. Cash payout ratio: 5%. Reported Earnings • Feb 22
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ฿0.24 (down from ฿0.26 in FY 2023). Revenue: ฿1.67b (up 14% from FY 2023). Net income: ฿309.1m (down 6.9% from FY 2023). Profit margin: 19% (down from 23% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.6%. Earnings per share (EPS) also missed analyst estimates by 7.7%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Consumer Services industry in Asia. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿5.75, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 14x in the Consumer Services industry in Asia. Total returns to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿7.99 per share. Annuncio • Dec 18
Siam Wellness Group Public Company Limited Appoints Bancha Chuenchujit as Independent Directors and Director of the Audit Committee to Be Chairman of Independent Directors Siam Wellness Group Public Company Limited informed that the resolution of Company's Board of Directors at the meeting No. 8/2024 held on December 14, 2024, was passed to appoint Prof. Dr. Bancha Chuenchujit as Independent Directors and Director of the Audit Committee to be Chairman of Independent Directors. This appointment has been effective from the date of December 14, 2024 onwards. Reported Earnings • Nov 17
Third quarter 2024 earnings: EPS exceeds analyst expectations Third quarter 2024 results: EPS: ฿0.064 (in line with 3Q 2023). Revenue: ฿442.1m (up 14% from 3Q 2023). Net income: ฿81.7m (flat on 3Q 2023). Profit margin: 19% (down from 21% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.7%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Consumer Services industry in Asia. Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Nov 12
Now 21% undervalued Over the last 90 days, the stock has risen 4.5% to ฿7.00. The fair value is estimated to be ฿8.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 70% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 29% in 2 years. Earnings are forecast to grow by 13% in the next 2 years. Buy Or Sell Opportunity • Sep 20
Now 21% undervalued Over the last 90 days, the stock has risen 5.8% to ฿7.25. The fair value is estimated to be ฿9.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 70% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 13% in the next 2 years. Price Target Changed • Aug 15
Price target increased by 7.4% to ฿10.34 Up from ฿9.63, the current price target is an average from 7 analysts. New target price is 54% above last closing price of ฿6.70. Stock is down 20% over the past year. The company is forecast to post earnings per share of ฿0.26 for next year compared to ฿0.26 last year. Reported Earnings • Aug 10
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: EPS: ฿0.048 (up from ฿0.047 in 2Q 2023). Revenue: ฿391.6m (up 9.4% from 2Q 2023). Net income: ฿61.6m (up 2.5% from 2Q 2023). Profit margin: 16% (down from 17% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 20%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Consumer Services industry in Asia. Over the last 3 years on average, earnings per share has increased by 119% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Annuncio • Jul 26
Siam Wellness Group Public Company Limited Appoints Pensiri Chakrabandhu as Director Siam Wellness Group Public Company Limited at its EGM held on July 26, 2024 Considered and Approved increasing the number of directors from 9 to
10 directors and appointing M.R. Pensiri Chakrabandhu as the new director. Buy Or Sell Opportunity • Jul 09
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 28% to ฿6.35. The fair value is estimated to be ฿8.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 73% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 30% in 2 years. Earnings are forecast to grow by 14% in the next 2 years. Price Target Changed • Jun 08
Price target increased by 7.6% to ฿10.96 Up from ฿10.18, the current price target is an average from 7 analysts. New target price is 53% above last closing price of ฿7.15. Stock is up 1.2% over the past year. The company is forecast to post earnings per share of ฿0.27 for next year compared to ฿0.26 last year. Reported Earnings • May 12
First quarter 2024 earnings released: EPS: ฿0.058 (vs ฿0.039 in 1Q 2023) First quarter 2024 results: EPS: ฿0.058. Revenue: ฿398.9k (down 100% from 1Q 2023). Net income: ฿74.0k (down 100% from 1Q 2023). Profit margin: 19% (up from 16% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Consumer Services industry in Asia. Upcoming Dividend • Apr 19
Upcoming dividend of ฿0.014 per share Eligible shareholders must have bought the stock before 26 April 2024. Payment date: 17 May 2024. Payout ratio is a comfortable 3.6% and this is well supported by cash flows. Trailing yield: 0.1%. Lower than top quartile of Thai dividend payers (5.8%). Lower than average of industry peers (3.9%). Reported Earnings • Feb 28
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: ฿0.39 (up from ฿0.10 loss in FY 2022). Revenue: ฿1.47b (up 105% from FY 2022). Net income: ฿332.1m (up ฿420.2m from FY 2022). Profit margin: 23% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) exceeded analyst estimates by 21%. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Consumer Services industry in Asia. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Annuncio • Jan 12
Siam Wellness Group Public Company Limited Announces Resignation of Phumiphan Bunjapamai as Independent Director, January 16, 2024 Siam Wellness Group Public Company Limited announced that Mr. Phumiphan Bunjapamai has resigned from an Independent Director of the Company but shall remain the position as a Director having effective on the date of January 16, 2024 onward. Board Change • Jan 06
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. 5 non-independent directors. Independent Director Bancha Chernchujit was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Nov 12
Consensus EPS estimates increase by 12% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from ฿0.287 to ฿0.32. Revenue forecast unchanged at ฿1.46b. Net income forecast to grow 154% next year vs 25% growth forecast for Consumer Services industry in Thailand. Consensus price target broadly unchanged at ฿14.50. Share price was steady at ฿12.20 over the past week. Reported Earnings • Aug 11
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: ฿0.07 (up from ฿0.034 loss in 2Q 2022). Revenue: ฿358.5m (up 168% from 2Q 2022). Net income: ฿60.1m (up ฿89.4m from 2Q 2022). Profit margin: 17% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) also surpassed analyst estimates by 24%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Consumer Services industry in Asia. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 18
First quarter 2023 earnings released: EPS: ฿0.059 (vs ฿0.067 loss in 1Q 2022) First quarter 2023 results: EPS: ฿0.059 (up from ฿0.067 loss in 1Q 2022). Revenue: ฿325.9m (up 187% from 1Q 2022). Net income: ฿50.5m (up ฿107.9m from 1Q 2022). Profit margin: 16% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Consumer Services industry in Asia. 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 18% per year, which means it is well ahead of earnings. Annuncio • May 17
Siam Wellness Group Public Company Limited Appoints Bancha Chernchujit as the Independent Director, Member of Audit Committee The Meeting of the Board of Directors of Siam Wellness Group Public Company Limited No.2/2566, held on May 12, 2023, Resolved to appoint Mr. Bancha Chernchujit as the Independent Director, Member of Audit Committee in place of the resigned director effective from May 12, 2023 onwards. 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. 5 non-independent directors. Independent Director Kobboon Srichai was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 11
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: ฿0.018 loss per share (improved from ฿0.091 loss in 3Q 2021). Revenue: ฿197.9m (up ฿183.5m from 3Q 2021). Net loss: ฿15.0m (loss narrowed 81% from 3Q 2021). Revenue exceeded analyst estimates by 19%. Earnings per share (EPS) also surpassed analyst estimates by 10%. Revenue is forecast to grow 47% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Consumer Services industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Price Target Changed • Oct 07
Price target increased to ฿11.72 Up from ฿10.80, the current price target is an average from 6 analysts. New target price is 6.5% above last closing price of ฿11.00. Stock is up 46% over the past year. The company is forecast to post a net loss per share of ฿0.10 next year compared to a net loss per share of ฿0.34 last year. Price Target Changed • Sep 29
Price target increased to ฿11.32 Up from ฿10.40, the current price target is an average from 6 analysts. New target price is 14% above last closing price of ฿9.95. Stock is up 34% over the past year. The company is forecast to post a net loss per share of ฿0.10 next year compared to a net loss per share of ฿0.34 last year. Price Target Changed • Aug 16
Price target increased to ฿10.25 Up from ฿9.48, the current price target is an average from 6 analysts. New target price is 18% above last closing price of ฿8.65. Stock is up 33% over the past year. The company is forecast to post a net loss per share of ฿0.15 next year compared to a net loss per share of ฿0.34 last year. Reported Earnings • Aug 14
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: ฿0.034 loss per share (up from ฿0.10 loss in 2Q 2021). Revenue: ฿134.2m (up 486% from 2Q 2021). Net loss: ฿29.3m (loss narrowed 66% from 2Q 2021). Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) also surpassed analyst estimates by 16%. Over the next year, revenue is forecast to grow 144%, compared to a 19% growth forecast for the industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. Reported Earnings • May 19
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: ฿0.067 loss per share (up from ฿0.089 loss in 1Q 2021). Revenue: ฿114.1m (up 105% from 1Q 2021). Net loss: ฿57.4m (loss narrowed 24% from 1Q 2021). Revenue exceeded analyst estimates by 57%. Earnings per share (EPS) missed analyst estimates by 12%. Over the next year, revenue is forecast to grow 207%, compared to a 28% growth forecast for the industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance. Major Estimate Revision • May 18
Consensus revenue estimates fall by 12% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from ฿584.8m to ฿516.2m. Forecast losses increased from -฿0.14 to -฿0.18 per share. Consumer Services industry in Thailand expected to see average net income growth of 26% next year. Consensus price target broadly unchanged at ฿9.30. Share price rose 2.7% to ฿7.70 over the past week. 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. 5 non-independent directors. Independent Director Kobboon Srichai was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 02
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: ฿0.34 loss per share (down from ฿0.24 loss in FY 2020). Net loss: ฿286.7m (loss widened 37% from FY 2020). Revenue exceeded analyst estimates by 4.5%. Earnings per share (EPS) missed analyst estimates by 4.3%. Over the next year, revenue is forecast to grow 232%, compared to a 22% growth forecast for the industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Mar 01
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from ฿589.8m to ฿581.2m. 2022 losses expected to reduce from -฿0.07 to -฿0.05 per share. Consumer Services industry in Thailand expected to see average net income growth of 33% next year. Consensus price target broadly unchanged at ฿9.32. Share price was steady at ฿6.85 over the past week. Reported Earnings • Nov 15
Third quarter 2021 earnings released: ฿0.091 loss per share (vs ฿0.064 loss in 3Q 2020) Third quarter 2021 results: Net loss: ฿77.9m (loss widened 42% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Price Target Changed • Oct 12
Price target increased to ฿9.08 Up from ฿8.28, the current price target is an average from 5 analysts. New target price is 11% above last closing price of ฿8.15. Stock is up 33% over the past year. Reported Earnings • Aug 11
Second quarter 2021 earnings released: ฿0.10 loss per share (vs ฿0.094 loss in 2Q 2020) The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: ฿23.5m (down 26% from 2Q 2020). Net loss: ฿86.9m (loss widened 7.7% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Aug 10
Consensus revenue estimates fall to ฿300.4m The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from ฿350.9m to ฿300.4m. Forecast losses increased from -฿0.20 to -฿0.22 per share. Consumer Services industry in Thailand expected to see average net income growth of 41% next year. Consensus price target of ฿8.68 unchanged from last update. Share price was steady at ฿6.35 over the past week. Price Target Changed • Aug 10
Price target decreased to ฿8.42 Down from ฿9.20, the current price target is an average from 6 analysts. New target price is 33% above last closing price of ฿6.35. Stock is up 11% over the past year. Major Estimate Revision • Jun 11
Consensus revenue estimates fall to ฿381.1m The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from ฿437.1m to ฿381.1m. Forecast losses increased from -฿0.18 to -฿0.20 per share. Consumer Services industry in Thailand expected to see average net income growth of 52% next year. Consensus price target of ฿9.20 unchanged from last update. Share price was steady at ฿8.45 over the past week. Major Estimate Revision • May 21
Consensus revenue estimates fall to ฿437.1m The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from ฿623.1m to ฿437.1m. Forecast losses increased from -฿0.10 to -฿0.18 per share. Consumer Services industry in Thailand expected to see average net income growth of 51% next year. Consensus price target down from ฿9.63 to ฿9.20. Share price rose 3.4% to ฿7.60 over the past week. Reported Earnings • May 17
First quarter 2021 earnings released: ฿0.089 loss per share (vs ฿0.005 profit in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: ฿56.3m (down 77% from 1Q 2020). Net loss: ฿76.0m (down ฿80.4m from profit in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Price Target Changed • Apr 04
Price target increased to ฿8.94 Up from ฿7.83, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of ฿8.75. Stock is up 84% over the past year. Price Target Changed • Dec 14
Price target raised to ฿6.80 Up from ฿6.05, the current price target is an average from 5 analysts. The new target price is 9.9% below the current share price of ฿7.55. As of last close, the stock is down 26% over the past year. Is New 90 Day High Low • Dec 08
New 90-day high: ฿7.60 The company is up 27% from its price of ฿6.00 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 Consumer Services industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿6.60 per share. Is New 90 Day High Low • Nov 18
New 90-day high: ฿6.75 The company is up 15% from its price of ฿5.85 on 20 August 2020. The Thai market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Services industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿6.30 per share. Reported Earnings • Nov 16
Third quarter 2020 earnings released: ฿0.064 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: ฿76.8m (down 79% from 3Q 2019). Net loss: ฿55.0m (down 181% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 22% per year whereas the company’s share price has fallen by 19% per year. Analyst Estimate Surprise Post Earnings • Nov 16
Revenue and earnings miss expectations Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 15%. Over the next year, revenue is expected to shrink by 11% compared to a 39% growth forecast for the Consumer Services industry in Thailand. Major Estimate Revision • Oct 02
Analysts lower EPS estimates to -฿0.21 The 2020 consensus revenue estimate was lowered from ฿473.2m to ฿465.4m. The company's losses are expected to worsen with analysts lowering their EPS forecasts from -฿0.15 to -฿0.21 for the same period. The Consumer Services industry in Thailand is expected to see an average net income growth of 25% next year. The consensus price target was lowered from ฿6.45 to ฿6.05. Share price stayed mostly flat at ฿6.20 over the past week.