Reported Earnings • 21h
First quarter 2026 earnings released: ฿0.01 loss per share (vs ฿0.025 profit in 1Q 2025) First quarter 2026 results: ฿0.01 loss per share (down from ฿0.025 profit in 1Q 2025). Revenue: ฿215.7m (down 24% from 1Q 2025). Net loss: ฿11.9m (down 139% from profit in 1Q 2025). 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 24% per year. Annuncio • Apr 23
Asset Five Group Public Company Limited Approves Dividend for the Year 2025, Payable on May 14, 2026 Asset Five Group Public Company Limited at the Annual General Meeting of Shareholders held on 22 April 2026, approved the dividend payment for the year 2025 at a rate of THB 0.05 per share. The record date for determining the shareholders entitled to receive the dividend was set on March 12, 2026, and the dividend payment date was scheduled for May 14, 2026. Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: ฿0.09 (vs ฿0.38 in FY 2024) Full year 2025 results: EPS: ฿0.09 (down from ฿0.38 in FY 2024). Revenue: ฿1.31b (down 27% from FY 2024). Net income: ฿102.9m (down 77% from FY 2024). Profit margin: 7.8% (down from 25% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ฿0.01 (vs ฿0.15 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.01 (down from ฿0.15 in 3Q 2024). Revenue: ฿350.1m (down 37% from 3Q 2024). Net income: ฿5.95m (down 97% from 3Q 2024). Profit margin: 1.7% (down from 32% in 3Q 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 • Aug 15
Second quarter 2025 earnings released: EPS: ฿0.06 (vs ฿0.14 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.06 (down from ฿0.14 in 2Q 2024). Revenue: ฿416.6m (down 7.1% from 2Q 2024). Net income: ฿70.9m (down 58% from 2Q 2024). Profit margin: 17% (down from 37% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: ฿0.03 (vs ฿0.12 in 1Q 2024) First quarter 2025 results: EPS: ฿0.03 (down from ฿0.12 in 1Q 2024). Revenue: ฿281.9m (down 40% from 1Q 2024). Net income: ฿30.3m (down 79% from 1Q 2024). Profit margin: 11% (down from 30% in 1Q 2024). The decrease in margin was driven by lower revenue. 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 6% per year, which means it is significantly lagging earnings. Annuncio • Apr 29
Asset Five Group Public Company Limited Approves Appointment of Sakol Pao-In as Director Asset Five Group Public Company Limited at its shareholders' meeting held on April 29, 2025 approved to consider the election of increasing the number of directors and appointing one new director namely Mr. Sakol Pao-In. New Risk • Feb 27
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 4.1% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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). High level of non-cash earnings (50% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (฿2.92b market cap, or US$86.2m). Reported Earnings • Feb 26
Full year 2024 earnings released: EPS: ฿0.38 (vs ฿0.42 in FY 2023) Full year 2024 results: EPS: ฿0.38 (down from ฿0.42 in FY 2023). Revenue: ฿1.81b (up 21% from FY 2023). Net income: ฿453.3m (down 11% from FY 2023). Profit margin: 25% (down from 34% in FY 2023). The decrease in margin was driven by higher expenses. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: ฿0.14 (vs ฿0.068 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.14 (up from ฿0.068 in 2Q 2023). Revenue: ฿448.5m (up 36% from 2Q 2023). Net income: ฿167.4m (up 102% from 2Q 2023). Profit margin: 37% (up from 25% in 2Q 2023). The increase in margin was driven by higher revenue. Annuncio • Jun 13
Asset Five Group Public Company Limited (SET:A5) announces an Equity Buyback for 33,000,000 shares, representing 2.73% for THB 100 million. Asset Five Group Public Company Limited (SET:A5) announces a share repurchase program. Under the program, the company will repurchase up to 33,000,000 shares, representing 2.73% of its issued share capital, for THB 100 million. The repurchase price shall not exceed 115% of the average closing share price of 5 trading days prior to the share repurchase date. The purpose of the program is to manage the company's excess liquidity and reflect appropriate share value due to having retained earnings and high liquidity, including having sufficient working capital to invest in the Company's own shares to increase the rate of Return on Equity, Earning Value per Share, and Book Value Per Share. The program is valid till December 16, 2024. As of March 13, 2024, the company had 1,209,384,615 shares outstanding. New Risk • Jun 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ฿3.63b (US$99.4m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. 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 (33% accrual ratio). Minor Risk Market cap is less than US$100m (฿3.63b market cap, or US$99.4m). Upcoming Dividend • May 02
Upcoming dividend of ฿0.05 per share Eligible shareholders must have bought the stock before 09 May 2024. Payment date: 20 May 2024. Trailing yield: 1.5%. Lower than top quartile of Thai dividend payers (6.0%). Lower than average of industry peers (4.5%). Annuncio • Apr 27
Asset Five Group Public Company Limited Approves Dividend for the Fiscal Year 2023, Payable on May 20, 2024 Asset Five Group Public Company Limited at the AGM held on April 26, 2024 approved the dividend payment in cash dividend and the allocation of net income in 2023 as legal reservation money. Approval of the dividend payment for the fiscal year 2023 at the rate of THB 0.05 per share. The Board of Directors shall set the record date for the name list of shareholders who are eligible to receive the dividend on May 10, 2024, and the Company will pay the dividend on May 20, 2024, and approval to allocate a portion of its annual net profit as a reserve by no less than 5% which is THB 20,710,000.00 total legal reserves, accumulated amount THB 23,760,000.00 representing 3.27% of the registered capital. Annuncio • Mar 01
Asset Five Group Public Company Limited Approves Amendment of the Dividend Payment Policy Asset Five Group Public Company Limited announced that at its board meeting held on February 27, 2024 Approved the Amendment of the Dividend Payment Policy as follows: The Company's dividend payout policy is to pay the rate of 50% of the net profit after taxes and legal reserve of the Company's separate financial statement." However, the dividend payment may be subject to change depending on the Company's performance, investment plan, liquidity, necessity, and other suitability as the Board of Directors deems appropriate for the utmost benefit of the shareholders. The dividend payment policy will be effective from the dividend payment of the Year 2023 onwards. Reported Earnings • Mar 01
Full year 2023 earnings released: EPS: ฿0.42 (vs ฿0.081 in FY 2022) Full year 2023 results: EPS: ฿0.42 (up from ฿0.081 in FY 2022). Revenue: ฿1.50b (up 126% from FY 2022). Net income: ฿506.4m (up 418% from FY 2022). Profit margin: 34% (up from 15% in FY 2022). The increase in margin was driven by higher revenue. Annuncio • Nov 15
Asset Five Group Public Company Limited Appoints Sasiprapha Saengchai as Company Secretary The Board of Directors' Meeting No.5/2023 of Asset Five Group Public Company Limited held on 13th November 2023 has resolved to appoint Miss Sasiprapha Saengchai as Company Secretary, effective from 13 November 2023 onwards. Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: ฿0.15 (vs ฿0.004 loss in 3Q 2022) Third quarter 2023 results: EPS: ฿0.15 (up from ฿0.004 loss in 3Q 2022). Revenue: ฿427.5m (up 462% from 3Q 2022). Net income: ฿178.3m (up ฿182.6m from 3Q 2022). Profit margin: 42% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: ฿0.068 (vs ฿0.024 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.068 (up from ฿0.024 in 2Q 2022). Revenue: ฿329.8m (up 44% from 2Q 2022). Net income: ฿82.7m (up 186% from 2Q 2022). Profit margin: 25% (up from 13% in 2Q 2022). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ฿3.94, the stock trades at a trailing P/E ratio of 35.4x. Average trailing P/E is 11x in the Real Estate industry in Thailand. Total returns to shareholders of 67% over the past year. 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 6.3% 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (31% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.3% average weekly change). Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ฿3.66, the stock trades at a trailing P/E ratio of 46.1x. Average trailing P/E is 14x in the Real Estate industry in Thailand. Valuation Update With 7 Day Price Move • Dec 13
Investor sentiment improved over the past week After last week's 24% share price gain to ฿4.30, the stock trades at a trailing P/E ratio of 54.1x. Average trailing P/E is 14x in the Real Estate industry in Thailand. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improved over the past week After last week's 25% share price gain to ฿3.76, the stock trades at a trailing P/E ratio of 47.3x. Average trailing P/E is 12x in the Real Estate industry in Thailand. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Sansanee Poolsawat was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment improved over the past week After last week's 16% share price gain to ฿2.72, the stock trades at a trailing P/E ratio of 29.2x. Average trailing P/E is 13x in the Real Estate industry in Thailand. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improved over the past week After last week's 18% share price gain to ฿2.52, the stock trades at a trailing P/E ratio of 27.1x. Average trailing P/E is 14x in the Real Estate industry in Thailand. Reported Earnings • Aug 16
Second quarter 2022 earnings released: EPS: ฿0.024 (vs ฿0.004 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.024 (up from ฿0.004 in 2Q 2021). Revenue: ฿229.3m (up 9.2% from 2Q 2021). Net income: ฿28.9m (up 455% from 2Q 2021). Profit margin: 13% (up from 2.5% in 2Q 2021). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ฿2.20, the stock trades at a trailing P/E ratio of 30x. Average trailing P/E is 13x in the Real Estate industry in Thailand. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: ฿0.041 (vs ฿0.076 in 1Q 2021) First quarter 2022 results: EPS: ฿0.041 (down from ฿0.076 in 1Q 2021). Revenue: ฿322.0m (up 30% from 1Q 2021). Net income: ฿50.1m (down 46% from 1Q 2021). Profit margin: 16% (down from 37% in 1Q 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • May 06
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ฿2.70, the stock trades at a trailing P/E ratio of 25x. Average trailing P/E is 14x in the Real Estate industry in Thailand. Upcoming Dividend • May 02
Upcoming dividend of ฿0.01 per share Eligible shareholders must have bought the stock before 09 May 2022. Payment date: 27 May 2022. Trailing yield: 0.3%. Lower than top quartile of Thai dividend payers (5.1%). Lower than average of industry peers (3.1%). Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Sansanee Poolsawat was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improved over the past week After last week's 37% share price gain to ฿2.72, the stock trades at a trailing P/E ratio of 25.2x. Average trailing P/E is 15x in the Real Estate industry in Thailand. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improved over the past week After last week's 38% share price gain to ฿2.16, the stock trades at a trailing P/E ratio of 20x. Average trailing P/E is 14x in the Real Estate industry in Thailand. Board Change • Mar 08
Less than half of directors are independent 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. 3 independent directors (5 non-independent directors). Independent Director Sansanee Poolsawat was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. 
