View ValuationInoue Rubber (Thailand) 将来の成長Future 基準チェック /06現在、 Inoue Rubber (Thailand)の成長と収益を予測するのに十分なアナリストの調査がありません。主要情報n/a収益成長率n/aEPS成長率Auto Components 収益成長27.5%収益成長率n/a将来の株主資本利益率n/aアナリストカバレッジNone最終更新日n/a今後の成長に関する最新情報Price Target Changed • Dec 04Price target decreased by 15% to ฿12.40Down from ฿14.57, the current price target is provided by 1 analyst. New target price is 12% below last closing price of ฿14.10. Stock is up 4.4% over the past year. The company is forecast to post earnings per share of ฿1.08 for next year compared to ฿1.62 last year.Major Estimate Revision • Dec 01Consensus EPS estimates fall by 30%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿6.27b to ฿5.73b. EPS estimate also fell from ฿1.23 per share to ฿0.86 per share. Net income forecast to grow 3.9% next year vs 15% growth forecast for Auto Components industry in Thailand. Consensus price target of ฿15.00 unchanged from last update. Share price was steady at ฿13.60 over the past week.Major Estimate Revision • Sep 22Consensus EPS estimates fall by 16%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ฿6.34b to ฿5.99b. EPS estimate also fell from ฿1.14 per share to ฿0.955 per share. Net income forecast to grow 61% next year vs 8.7% growth forecast for Auto Components industry in Thailand. Consensus price target up from ฿14.57 to ฿15.00. Share price was steady at ฿13.50 over the past week.Major Estimate Revision • Dec 01Consensus forecasts updatedThe consensus outlook for 2023 has been updated. 2023 revenue forecast increased from ฿6.19b to ฿6.51b. EPS estimate fell from ฿1.41 to ฿1.26 per share. Net income forecast to grow 126% next year vs 5.3% growth forecast for Auto Components industry in Thailand. Consensus price target down from ฿17.30 to ฿16.00. Share price rose 3.7% to ฿14.00 over the past week.Price Target Changed • Nov 30Price target decreased to ฿16.00Down from ฿17.30, the current price target is an average from 2 analysts. New target price is 15% above last closing price of ฿13.90. Stock is down 20% over the past year. The company is forecast to post earnings per share of ฿1.27 for next year compared to ฿0.57 last year.Major Estimate Revision • Aug 24Consensus EPS estimates fall by 55%The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from ฿5.90b to ฿5.65b. EPS estimate also fell from ฿1.17 per share to ฿0.53 per share. Net income forecast to grow 117% next year vs 11% growth forecast for Auto Components industry in Thailand. Consensus price target broadly unchanged at ฿17.30. Share price was steady at ฿14.50 over the past week.すべての更新を表示Recent updatesNew Risk • Feb 19New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.5% Last year net profit margin: 6.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 4.3% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.5% net profit margin). Market cap is less than US$100m (฿2.27b market cap, or US$72.7m).Reported Earnings • Feb 18First quarter 2026 earnings released: EPS: ฿0.30 (vs ฿0.17 in 1Q 2025)First quarter 2026 results: EPS: ฿0.30 (up from ฿0.17 in 1Q 2025). Revenue: ฿1.13b (down 2.5% from 1Q 2025). Net income: ฿57.7m (up 74% from 1Q 2025). Profit margin: 5.1% (up from 2.9% in 1Q 2025). The increase in margin was driven by lower expenses. 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 5% per year, which means it is significantly lagging earnings.New Risk • Feb 09New major risk - Revenue and earnings growthEarnings have declined by 3.9% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 have declined by 3.9% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.0% net profit margin). Market cap is less than US$100m (฿2.38b market cap, or US$75.6m).Upcoming Dividend • Feb 03Upcoming dividend of ฿0.49 per shareEligible shareholders must have bought the stock before 10 February 2026. Payment date: 27 February 2026. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of Thai dividend payers (7.9%). Lower than average of industry peers (7.9%).Declared Dividend • Nov 29Dividend reduced to ฿0.49Dividend of ฿0.49 is 43% lower than last year. Ex-date: 10th February 2026 Payment date: 27th February 2026 Dividend yield will be 4.2%, which is lower than the industry average of 8.0%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 34% over the next 2 years, which should provide support to the dividend and adequate earnings cover.お知らせ • Nov 28Inoue Rubber (Thailand) Public Company Limited Proposes Cash Dividend for the Year 2025, Payable on 27 February 2026The Board of Inoue Rubber (Thailand) Public Company Limited had thoroughly considered the Company's performance, the business plan and other factors that might occur in the future, then agreed to propose the Shareholder's meeting to approve the cash dividend payment in 2025, which is in accordance with the Company dividend payment policy, at the rate of THB 0.493 per share, which are paid from Non - BOI business at the rate of THB 0.493 per share, or equivalent to the total of THB 94,758,396.10. If the shareholders in AGM 2026 approve, the Company will pay the approved dividend to the shareholders who are entitled to the dividend payment and their names shows on the Record Dated for Dividend Payment on 11 February 2026. The dividend payment will be on 27 February 2026. Ex-dividend date: February 10, 2026.お知らせ • Nov 27Inoue Rubber (Thailand) Public Company Limited, Annual General Meeting, Jan 30, 2026Inoue Rubber (Thailand) Public Company Limited, Annual General Meeting, Jan 30, 2026, at 14:00 SE Asia Standard Time. Location: office building, (thailand) public company limited, no. 258, soi rangsit nakornnayok 49, prachathipat, thanyaburi, 12130, thanyaburi ThailandReported Earnings • Nov 27Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: ฿0.96 (down from ฿1.62 in FY 2024). Revenue: ฿4.69b (up 1.8% from FY 2024). Net income: ฿184.3m (down 41% from FY 2024). Profit margin: 3.9% (down from 6.8% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 11%. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 5.1% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.Reported Earnings • Aug 19Third quarter 2025 earnings released: EPS: ฿0.33 (vs ฿0.83 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.33 (down from ฿0.83 in 3Q 2024). Revenue: ฿1.18b (up 5.2% from 3Q 2024). Net income: ฿63.2m (down 60% from 3Q 2024). Profit margin: 5.4% (down from 14% in 3Q 2024). Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.Buy Or Sell Opportunity • Jun 17Now 21% overvaluedOver the last 90 days, the stock has fallen 3.5% to ฿11.00. The fair value is estimated to be ฿9.10, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.3% over the last 3 years. Earnings per share has grown by 37%. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to decline by 4.1% in the next 2 years.New Risk • May 24New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 159% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (฿2.23b market cap, or US$68.6m).Reported Earnings • May 15Second quarter 2025 earnings released: EPS: ฿0.27 (vs ฿0.47 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.27 (down from ฿0.47 in 2Q 2024). Revenue: ฿1.23b (flat on 2Q 2024). Net income: ฿51.1m (down 44% from 2Q 2024). Profit margin: 4.2% (down from 7.4% in 2Q 2024). Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.Buy Or Sell Opportunity • Apr 09Now 25% overvaluedOver the last 90 days, the stock has fallen 20% to ฿11.30. The fair value is estimated to be ฿9.04, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.6% over the last 3 years. Earnings per share has grown by 29%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to decline by 19% in the next 2 years.Reported Earnings • Feb 15First quarter 2025 earnings released: EPS: ฿0.17 (vs ฿0.20 in 1Q 2024)First quarter 2025 results: EPS: ฿0.17 (down from ฿0.20 in 1Q 2024). Revenue: ฿1.16b (down 13% from 1Q 2024). Net income: ฿33.2m (down 36% from 1Q 2024). Profit margin: 2.9% (down from 3.9% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.Upcoming Dividend • Feb 03Upcoming dividend of ฿0.87 per shareEligible shareholders must have bought the stock before 10 February 2025. Payment date: 28 February 2025. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 6.1%. Lower than top quartile of Thai dividend payers (7.3%). Lower than average of industry peers (6.9%).お知らせ • Jan 30+ 1 more updateInoue Rubber (Thailand) Public Company Limited Announces Board and Committee ChangesInoue Rubber (Thailand) Public Company Limited at its board of directors meeting held on January 30, 2025, approved the appointment of Mr. Kiyoharu Mizushima as the new Director, Chairman of Executive Committee, and Vice Chairman of Risk Management and Sustainability Committee in replacement of Mr. Shigeki Yamada who will resign. The new director shall hold the remaining term in office of the resigned director. The appointment will be effective on February 1, 2025 onwards. Approved the appointment of Mrs. Anchalee Chavanich as the Chairman of Audit and Corporate Governance Committee for another term in office. The appointment will be effective on January 30, 2025 onwards. Approved the appointment of Mr. Kittichai Raktakanit as the Audit and Corporate Governance Committee director in replacement of Ms. Chunhachit Sungmai who resigned. The appointment will be effective on January 30, 2025 onwards. The Audit and Corporate Governance Committee consisted of; Chairman of the Committee - Mrs. Anchalee Chavanich remaining term in office 3 year (Due on AGM 2028). Member of the Committee - Mr. Kittichai Raktakanit remaining term in office 1 year (Due on AGM 2026). Member of the Committee - Mr. Surong Bulakul remaining term in office 1 year (Due on AGM 2026). Secretary of the Audit and Corporate Governance Committee is Ms. Kittunya Naruepracha.Price Target Changed • Dec 04Price target decreased by 15% to ฿12.40Down from ฿14.57, the current price target is provided by 1 analyst. New target price is 12% below last closing price of ฿14.10. Stock is up 4.4% over the past year. The company is forecast to post earnings per share of ฿1.08 for next year compared to ฿1.62 last year.New Risk • Nov 30New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 22% 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. Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Market cap is less than US$100m (฿2.78b market cap, or US$81.0m).Reported Earnings • Nov 28Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2024 results: EPS: ฿1.62 (up from ฿0.83 in FY 2023). Revenue: ฿4.80b (down 12% from FY 2023). Net income: ฿311.5m (up 95% from FY 2023). Profit margin: 6.5% (up from 2.9% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 20%. Earnings per share (EPS) exceeded analyst estimates by 88%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.お知らせ • Nov 27Inoue Rubber (Thailand) Public Company Limited, Annual General Meeting, Jan 30, 2025Inoue Rubber (Thailand) Public Company Limited, Annual General Meeting, Jan 30, 2025, at 14:00 SE Asia Standard Time. Location: v1 meeting room 2nd floor, office building, inoue rubber (thailand) public company limited, no. 258, soi rangsit nakornnayok 49, prachathipat, thanyaburi, 12130, ThailandNew Risk • Aug 21New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 32% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 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. Large one-off items impacting financial results. Market cap is less than US$100m (฿2.65b market cap, or US$77.4m).New Risk • Aug 16New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 15% 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 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. Market cap is less than US$100m (฿2.67b market cap, or US$76.1m).Reported Earnings • Aug 16Third quarter 2024 earnings released: EPS: ฿0.83 (vs ฿0.15 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.83 (up from ฿0.15 in 3Q 2023). Revenue: ฿1.26b (flat on 3Q 2023). Net income: ฿158.7m (up 434% from 3Q 2023). Profit margin: 13% (up from 2.3% in 3Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 13% 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.New Risk • Jun 05New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 44% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (฿2.61b market cap, or US$71.5m).Reported Earnings • May 16Second quarter 2024 earnings released: EPS: ฿0.47 (vs ฿0.32 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.47 (up from ฿0.32 in 2Q 2023). Revenue: ฿1.23b (down 16% from 2Q 2023). Net income: ฿90.6m (up 49% from 2Q 2023). Profit margin: 7.4% (up from 4.2% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.お知らせ • May 15Inoue Rubber (Thailand) Public Company Limited Announces Board and Committee ChangesThe Board of Directors' meeting of Inoue Rubber (Thailand) Public Company Limited held on May 14, 2024, approved the appointment of Miss Chunhachit Sungmai as the new Independent Director, Audit Committee Director, and Chairman of Corporate Governance and Sustainability Committee in replacement of Assoc. Prof. Jaruporn Viyanant who resign. The new director shall hold the remaining term in office of the resigned director. This appointment was effective on May 15, 2024 onwards.Reported Earnings • Feb 13First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2024 results: EPS: ฿0.27 (up from ฿0.08 in 1Q 2023). Revenue: ฿1.14b (down 23% from 1Q 2023). Net income: ฿51.7m (up 229% from 1Q 2023). Profit margin: 4.5% (up from 1.1% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 8.9%. Earnings per share (EPS) exceeded analyst estimates by 3.8%. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Feb 01Upcoming dividend of ฿0.42 per share at 3.0% yieldEligible shareholders must have bought the stock before 08 February 2024. Payment date: 28 February 2024. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Thai dividend payers (6.8%). Lower than average of industry peers (7.9%).お知らせ • Jan 30Inoue Rubber (Thailand) Public Company Limited Approves the Appointment of Kenjiro Miwa as DirectorInoue Rubber (Thailand) Public Company Limited at its AGM held on January 29, 2024, approved the appointment of Mr. Kenjiro Miwa as director.Major Estimate Revision • Dec 01Consensus EPS estimates fall by 30%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿6.27b to ฿5.73b. EPS estimate also fell from ฿1.23 per share to ฿0.86 per share. Net income forecast to grow 3.9% next year vs 15% growth forecast for Auto Components industry in Thailand. Consensus price target of ฿15.00 unchanged from last update. Share price was steady at ฿13.60 over the past week.New Risk • Nov 29New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Market cap is less than US$100m (฿2.70b market cap, or US$77.8m).Reported Earnings • Nov 25Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2023 results: EPS: ฿0.83 (up from ฿0.57 in FY 2022). Revenue: ฿5.48b (down 7.8% from FY 2022). Net income: ฿159.8m (up 45% from FY 2022). Profit margin: 2.9% (up from 1.9% in FY 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) exceeded analyst estimates by 7.8%. Revenue is forecast to grow 8.6% p.a. on average during the next 2 years, compared to a 9.2% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has remained flat, which means it is well ahead of earnings.お知らせ • Nov 25+ 2 more updatesInoue Rubber (Thailand) Public Company Limited Announces Executive ChangesThe Board of Directors' meeting of Inoue Rubber (Thailand) Public Company Limited on November 24, 2023, passed the resolution as follow; approved the appointment of Mr. Hideo Oya as the new Director in replacement of Mr. Kazuo Sato who resign. The new director shall hold the remaining term in office of the resigned director. This appointment was effective on November 24, 2023 onwards. Approved the appointment of Mr. Kanin Laochinda as the new Executive Director and Managing Director in addition. This appointment was effective on November 24, 2023 onwards.Major Estimate Revision • Sep 22Consensus EPS estimates fall by 16%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ฿6.34b to ฿5.99b. EPS estimate also fell from ฿1.14 per share to ฿0.955 per share. Net income forecast to grow 61% next year vs 8.7% growth forecast for Auto Components industry in Thailand. Consensus price target up from ฿14.57 to ฿15.00. Share price was steady at ฿13.50 over the past week.Reported Earnings • Aug 12Third quarter 2023 earnings released: EPS: ฿0.15 (vs ฿0.07 loss in 3Q 2022)Third quarter 2023 results: EPS: ฿0.15 (up from ฿0.07 loss in 3Q 2022). Revenue: ฿1.27b (down 9.1% from 3Q 2022). Net income: ฿29.7m (up ฿43.1m from 3Q 2022). Profit margin: 2.3% (up from net loss in 3Q 2022). The move to profitability was driven by lower expenses. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.Reported Earnings • May 18Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behindSecond quarter 2023 results: EPS: ฿0.32 (down from ฿0.33 in 2Q 2022). Revenue: ฿1.46b (down 7.7% from 2Q 2022). Net income: ฿60.9m (down 5.0% from 2Q 2022). Profit margin: 4.2% (up from 4.1% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) exceeded analyst estimates by 60%. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has remained flat, which means it is well ahead of earnings.Upcoming Dividend • Feb 01Upcoming dividend of ฿0.29 per share at 2.0% yieldEligible shareholders must have bought the stock before 08 February 2023. Payment date: 28 February 2023. Payout ratio is a comfortable 51% but the company is paying out more than the cash it is generating. Trailing yield: 2.0%. Lower than top quartile of Thai dividend payers (5.5%). Lower than average of industry peers (5.9%).お知らせ • Jan 31Inoue Rubber (Thailand) Public Company Limited Approve the Cash Dividend Payment for the Year 2022 (1 October 2021 30 September 2022) Dividend Payment Date Is 28 February 2023Inoue Rubber (Thailand) Public Company Limited at it's meeting resolved to approve the cash dividend payment for the year 2022 (1 October 2021 30 September 2022) to the shareholders at THB 0.2910 per share. The dividend will be paid from net profit derived from BOI business at THB 0.2496 per share, and from Non-BOI business at THB 0.0414 per share totaling 55,932,441 Baht, with votes of the shareholders attending the meeting and casting their votes. The record date to determine the names of shareholders who have the rights to receive the dividend is 9 February 2023 and the dividend payment date is 28 February 2023.Major Estimate Revision • Dec 01Consensus forecasts updatedThe consensus outlook for 2023 has been updated. 2023 revenue forecast increased from ฿6.19b to ฿6.51b. EPS estimate fell from ฿1.41 to ฿1.26 per share. Net income forecast to grow 126% next year vs 5.3% growth forecast for Auto Components industry in Thailand. Consensus price target down from ฿17.30 to ฿16.00. Share price rose 3.7% to ฿14.00 over the past week.Price Target Changed • Nov 30Price target decreased to ฿16.00Down from ฿17.30, the current price target is an average from 2 analysts. New target price is 15% above last closing price of ฿13.90. Stock is down 20% over the past year. The company is forecast to post earnings per share of ฿1.27 for next year compared to ฿0.57 last year.Reported Earnings • Nov 26Full year 2022 earnings: EPS and revenues exceed analyst expectationsFull year 2022 results: EPS: ฿0.57 (down from ฿1.77 in FY 2021). Revenue: ฿5.94b (up 11% from FY 2021). Net income: ฿109.9m (down 68% from FY 2021). Profit margin: 1.9% (down from 6.4% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.0%. Earnings per share (EPS) also surpassed analyst estimates by 7.5%. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 4% per year.お知らせ • Nov 25+ 1 more updateInoue Rubber (Thailand) Public Company Limited Proposes Dividend for the Year 2022, Payable on 28 February 2023Inoue Rubber (Thailand) Public Company Limited at its AGM to be held on January 30, 2023 proposed cash dividend payment for the year 2022, in accordance with the company dividend payment policy, at the rate of THB 0.2910 per share, equivalent to the total of THB 55,932,441. If the shareholders at AGM 2023 have approved the proposed dividend, the Record Date for the right to receive the dividend payment will be on 9 February 2023. The Ex-Dividend or XD date on which a share purchaser will not receive the dividend will be 8 February 2023. The dividend payment will be on 28 February 2023.Board Change • Nov 16Less than half of directors are independentFollowing 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. 8 non-independent directors. Independent Director Anchalee Chavanich 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.Major Estimate Revision • Aug 24Consensus EPS estimates fall by 55%The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from ฿5.90b to ฿5.65b. EPS estimate also fell from ฿1.17 per share to ฿0.53 per share. Net income forecast to grow 117% next year vs 11% growth forecast for Auto Components industry in Thailand. Consensus price target broadly unchanged at ฿17.30. Share price was steady at ฿14.50 over the past week.Reported Earnings • Aug 13Third quarter 2022 earnings released: ฿0.07 loss per share (vs ฿0.30 profit in 3Q 2021)Third quarter 2022 results: ฿0.07 loss per share (down from ฿0.30 profit in 3Q 2021). Revenue: ฿1.40b (up 6.6% from 3Q 2021). Net loss: ฿13.4m (down 123% from profit in 3Q 2021). Over the next year, revenue is forecast to grow 9.0%, compared to a 4.0% growth forecast for the industry in Thailand. 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 4% per year, which means it is significantly lagging earnings.お知らせ • Aug 11Inoue Rubber (Thailand) Public Company Limited Resolves to Change in Dividend Payment PolicyInoue Rubber (Thailand) Public Company Limited (the 'Company') announced that the board of directors' meeting No. 5/2022, held on 9 August 2022, has resolved to change the Company's dividend policy as follows: Existing Policy - The Company has a policy to pay dividend to shareholders not more than 65% of consolidated net profits after deducting the corporate income tax and legal reserve. The yearly payout shall be considered by many factors which should not materially affect the Company's normal business operation in the future. New Policy - The Company has a policy to pay dividend to shareholders not more than 65% of separate net prof its after deducting the corporate income tax and legal reserve. The yearly payout shall be considered by many factors which should not materially affect the Company's normal business operation in the future.Major Estimate Revision • Jun 10Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from ฿5.64b to ฿5.90b. EPS estimate fell from ฿1.42 to ฿1.17 per share. Net income forecast to grow 53% next year vs 17% growth forecast for Auto Components industry in Thailand. Consensus price target down from ฿17.55 to ฿17.00. Share price rose 4.1% to ฿15.30 over the past week.Reported Earnings • May 16Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindSecond quarter 2022 results: EPS: ฿0.33 (down from ฿0.69 in 2Q 2021). Revenue: ฿1.59b (up 12% from 2Q 2021). Net income: ฿64.2m (down 51% from 2Q 2021). Profit margin: 4.0% (down from 9.2% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) missed analyst estimates by 7.8%. Over the next year, revenue is forecast to grow 4.5%, compared to a 4.6% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.お知らせ • May 14Inoue Rubber (Thailand) Public Company Limited Announces Director ChangesInoue Rubber (Thailand) Public Company Limited announced that Mr. Mitsuhiro Ito, an executive director, notified the Company in advance of his intention to resign as an executive director of the Company. His resignation will be effective from May 7, 2022, onwards. The company also approved the appointment of Mr. Akira Tokoro as an Executive Director, in replacement of Mr. Tomohiro Shamoto who resigned on July 4, 2021. This appointment will be effective on May 13, 2022 onwards.Board Change • Apr 27Less than half of directors are independentFollowing 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. 8 non-independent directors. Independent Director Anchalee Chavanich 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.Major Estimate Revision • Feb 22Consensus EPS estimates fall by 13%The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from ฿5.86b to ฿5.63b. EPS estimate also fell from ฿1.76 per share to ฿1.54 per share. Net income forecast to grow 32% next year vs 4.3% growth forecast for Auto Components industry in Thailand. Consensus price target down from ฿19.65 to ฿18.10. Share price fell 3.1% to ฿15.70 over the past week.Reported Earnings • Feb 11First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2022 results: EPS: ฿0.14 (down from ฿0.63 in 1Q 2021). Revenue: ฿1.42b (up 5.6% from 1Q 2021). Net income: ฿27.1m (down 78% from 1Q 2021). Profit margin: 1.9% (down from 9.0% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) missed analyst estimates by 7.8%. Over the next year, revenue is forecast to grow 10% while the industry in Thailand is not expected to grow. 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 5% per year, which means it is significantly lagging earnings.Upcoming Dividend • Feb 01Upcoming dividend of ฿0.88 per shareEligible shareholders must have bought the stock before 08 February 2022. Payment date: 28 February 2022. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of Thai dividend payers (5.0%). Lower than average of industry peers (8.5%).Upcoming Dividend • Feb 01Upcoming dividend of ฿0.88 per shareEligible shareholders must have bought the stock before 08 February 2022. Payment date: 28 February 2022. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of Thai dividend payers (5.0%). Lower than average of industry peers (8.5%).お知らせ • Jan 30Inoue Rubber (Thailand) Public Company Limited Approves Cash Dividend for the Year 2021, Payable on 28 February 2022Inoue Rubber (Thailand) Public Company Limited, at its Annual General Meeting of Shareholders held on 28 January 2022 approved the cash dividend payment for the year 2021 (1 October 2020 30 September 2021) to the shareholders at THB 0.8845 per share. The record date to determine the names of shareholders who have the rights to receive the dividend is 9 February 2022 and the dividend payment date is 28 February 2022.Major Estimate Revision • Dec 01Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from ฿5.68b to ฿5.86b. EPS estimate fell from ฿2.11 to ฿1.76 per share. Net income forecast to grow 17% next year vs 4.2% growth forecast for Auto Components industry in Thailand. Consensus price target down from ฿26.67 to ฿22.40. Share price was steady at ฿17.30 over the past week.Reported Earnings • Nov 29Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2021 results: EPS: ฿1.77 (up from ฿1.12 in FY 2020). Revenue: ฿5.35b (up 21% from FY 2020). Net income: ฿340.0m (up 55% from FY 2020). Profit margin: 6.4% (up from 5.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) missed analyst estimates by 7.8%. Earnings per share (EPS) missed analyst estimates by 7.8%. Over the next year, revenue is forecast to grow 6.2%, compared to a 1.2% growth forecast for the industry in Thailand. 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 6% per year, which means it is significantly lagging earnings.Reported Earnings • Aug 15Third quarter 2021 earnings released: EPS ฿0.30 (vs ฿0.11 loss in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿1.31b (up 77% from 3Q 2020). Net income: ฿57.7m (up ฿79.4m from 3Q 2020). Profit margin: 4.4% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 6% per year.Reported Earnings • May 12Second quarter 2021 earnings released: EPS ฿0.69 (vs ฿0.50 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿1.45b (up 11% from 2Q 2020). Net income: ฿131.9m (up 33% from 2Q 2020). Profit margin: 9.1% (up from 7.6% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.Valuation Update With 7 Day Price Move • Feb 18Investor sentiment improved over the past weekAfter last week's 19% share price gain to ฿17.20, the stock is trading at a trailing P/E ratio of 11.9x, up from the previous P/E ratio of 9.9x. This compares to an average P/E of 25x in the Auto Components industry in Thailand. Total return to shareholders over the past three years is a loss of 12%.Reported Earnings • Feb 13First quarter 2021 earnings released: EPS ฿0.63 (vs ฿0.30 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿1.34b (up 7.8% from 1Q 2020). Net income: ฿121.2m (up 103% from 1Q 2020). Profit margin: 9.0% (up from 4.8% in 1Q 2020). The increase in margin was driven by higher revenue. 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 14% per year, which means it has not declined as severely as earnings.Is New 90 Day High Low • Feb 04New 90-day high: ฿15.20The company is up 24% from its price of ฿12.30 on 06 November 2020. The Thai market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 4.0% over the same period.Upcoming Dividend • Feb 01Upcoming Dividend of ฿0.57 Per ShareWill be paid on the 25th of February to those who are registered shareholders by the 8th of February. The trailing yield of 3.8% is below the top quartile of Thai dividend payers (6.3%), but is in line with industry peers (3.5%).Is New 90 Day High Low • Jan 06New 90-day high: ฿14.40The company is up 21% from its price of ฿11.90 on 08 October 2020. The Thai market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 6.0% over the same period.Is New 90 Day High Low • Dec 04New 90-day high: ฿13.90The company is up 14% from its price of ฿12.20 on 03 September 2020. The Thai market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 8.0% over the same period.Reported Earnings • Nov 25Full year 2020 earnings released: EPS ฿1.12The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ฿4.43b (down 19% from FY 2019). Net income: ฿219.1m (up 32% from FY 2019). Profit margin: 4.9% (up from 3.0% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.お知らせ • Nov 24Inoue Rubber (Thailand) Public Company Limited, Annual General Meeting, Jan 29, 2021Inoue Rubber (Thailand) Public Company Limited, Annual General Meeting, Jan 29, 2021, at 07:00 Coordinated Universal Time. Location: Vitya Memorial Hall, 2nd Floor 157 Moo 5 Phaholyothin Rd., Lamsai, Wangnoi Ayutthaya Thailand Agenda: To adopt the minutes of the 2020 Annual General Meeting of Shareholders (AGM), held on January 29, 2020; to acknowledge the company's operation results for the fiscal year 2020; to approve the financial statements for the year ended September 30, 2020; to approve the dividend payment for the year 2020; to re-elect directors who are due to retirement by rotation; to approve remuneration of the Board and Sub-Committees for the year 2021; to appoint the external auditors and approve the audit fee for the year 2021; and to consider other topics.Is New 90 Day High Low • Nov 13New 90-day high: ฿13.10The company is up 2.0% from its price of ฿12.90 on 14 August 2020. The Thai market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Auto Components industry, which is up 6.0% over the same period.Is New 90 Day High Low • Oct 19New 90-day low: ฿11.70The company is down 11% from its price of ฿13.10 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 Auto Components industry, which is up 2.0% over the same period.Is New 90 Day High Low • Sep 24New 90-day low: ฿12.00The company is down 11% from its price of ฿13.50 on 26 June 2020. The Thai market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 1.0% over the same period. このセクションでは通常、投資家が会社の利益創出能力を理解する一助となるよう、プロのアナリストのコンセンサス予想に基づく収益と利益の成長予測を提示する。しかし、Inoue Rubber (Thailand) は十分な過去のデータを提供しておらず、アナリストの予測もないため、過去のデータを外挿したり、アナリストの予測を使用しても、その将来の収益を確実に算出することはできません。 シンプリー・ウォール・ストリートがカバーする企業の97%は過去の財務データを持っているため、これはかなり稀な状況です。 業績と収益の成長予測SET:IRC - アナリストの将来予測と過去の財務データ ( )THB Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数3/31/20264,520241291535N/A12/31/20254,627209344590N/A9/30/20254,650184278522N/A6/30/20254,491158270462N/A3/31/20254,433253274501N/A12/31/20244,662293243499N/A9/30/20244,612312308554N/A6/30/20244,935354462706N/A3/31/20245,086225449694N/A12/31/20235,109196363594N/A9/30/20235,457160302536N/A6/30/20235,746138174439N/A3/31/20235,87495-17249N/A12/31/20225,9959959348N/A9/30/20225,93811045340N/A6/30/20225,66510719342N/A3/31/20225,578178118398N/A12/31/20215,425246139393N/A9/30/20215,350340381610N/A6/30/20215,204392429603N/A3/31/20214,632313494721N/A12/31/20204,509281315604N/A9/30/20204,412219171580N/A6/30/20204,623183146637N/A3/31/20205,20220454550N/A12/31/20195,287156N/A577N/A9/30/20195,481167N/A390N/A6/30/20195,556193N/A369N/A3/31/20195,640270N/A448N/A12/31/20185,688325N/A482N/A9/30/20185,614359N/A674N/A6/30/20185,594390N/A807N/A3/31/20185,502376N/A729N/A12/31/20175,409373N/A631N/A9/30/20175,286424N/A637N/A6/30/20175,149455N/A676N/A3/31/20175,071522N/A834N/A12/31/20165,036564N/A1,000N/A9/30/20165,002514N/A943N/A6/30/20164,955494N/A930N/A3/31/20164,923461N/A909N/A12/31/20155,042455N/A822N/A9/30/20155,186442N/A825N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: IRCの予測収益成長が 貯蓄率 ( 2.2% ) を上回っているかどうかを判断するにはデータが不十分です。収益対市場: IRCの収益がTH市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です高成長収益: IRCの収益が今後 3 年間で 大幅に 増加すると予想されるかどうかを判断するにはデータが不十分です。収益対市場: IRCの収益がTH市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です。高い収益成長: IRCの収益が年間20%よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です。一株当たり利益成長率予想将来の株主資本利益率将来のROE: IRCの 自己資本利益率 が 3 年後に高くなると予測されるかどうかを判断するにはデータが不十分です成長企業の発掘7D1Y7D1Y7D1YAutomobiles 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/07/07 18:16終値2026/07/07 00:00収益2026/03/31年間収益2025/09/30データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社の Github ページ でご覧いただけます。また、レポートの使い方に関する ガイド や YouTube の チュートリアル もご用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Inoue Rubber (Thailand) Public Company Limited 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。2 アナリスト機関Suwat BumrungchatudomBualuang Securities PCLThakol BanjongruckKrungsri Securities Public Company Limited
Price Target Changed • Dec 04Price target decreased by 15% to ฿12.40Down from ฿14.57, the current price target is provided by 1 analyst. New target price is 12% below last closing price of ฿14.10. Stock is up 4.4% over the past year. The company is forecast to post earnings per share of ฿1.08 for next year compared to ฿1.62 last year.
Major Estimate Revision • Dec 01Consensus EPS estimates fall by 30%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿6.27b to ฿5.73b. EPS estimate also fell from ฿1.23 per share to ฿0.86 per share. Net income forecast to grow 3.9% next year vs 15% growth forecast for Auto Components industry in Thailand. Consensus price target of ฿15.00 unchanged from last update. Share price was steady at ฿13.60 over the past week.
Major Estimate Revision • Sep 22Consensus EPS estimates fall by 16%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ฿6.34b to ฿5.99b. EPS estimate also fell from ฿1.14 per share to ฿0.955 per share. Net income forecast to grow 61% next year vs 8.7% growth forecast for Auto Components industry in Thailand. Consensus price target up from ฿14.57 to ฿15.00. Share price was steady at ฿13.50 over the past week.
Major Estimate Revision • Dec 01Consensus forecasts updatedThe consensus outlook for 2023 has been updated. 2023 revenue forecast increased from ฿6.19b to ฿6.51b. EPS estimate fell from ฿1.41 to ฿1.26 per share. Net income forecast to grow 126% next year vs 5.3% growth forecast for Auto Components industry in Thailand. Consensus price target down from ฿17.30 to ฿16.00. Share price rose 3.7% to ฿14.00 over the past week.
Price Target Changed • Nov 30Price target decreased to ฿16.00Down from ฿17.30, the current price target is an average from 2 analysts. New target price is 15% above last closing price of ฿13.90. Stock is down 20% over the past year. The company is forecast to post earnings per share of ฿1.27 for next year compared to ฿0.57 last year.
Major Estimate Revision • Aug 24Consensus EPS estimates fall by 55%The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from ฿5.90b to ฿5.65b. EPS estimate also fell from ฿1.17 per share to ฿0.53 per share. Net income forecast to grow 117% next year vs 11% growth forecast for Auto Components industry in Thailand. Consensus price target broadly unchanged at ฿17.30. Share price was steady at ฿14.50 over the past week.
New Risk • Feb 19New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.5% Last year net profit margin: 6.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 4.3% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.5% net profit margin). Market cap is less than US$100m (฿2.27b market cap, or US$72.7m).
Reported Earnings • Feb 18First quarter 2026 earnings released: EPS: ฿0.30 (vs ฿0.17 in 1Q 2025)First quarter 2026 results: EPS: ฿0.30 (up from ฿0.17 in 1Q 2025). Revenue: ฿1.13b (down 2.5% from 1Q 2025). Net income: ฿57.7m (up 74% from 1Q 2025). Profit margin: 5.1% (up from 2.9% in 1Q 2025). The increase in margin was driven by lower expenses. 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 5% per year, which means it is significantly lagging earnings.
New Risk • Feb 09New major risk - Revenue and earnings growthEarnings have declined by 3.9% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 have declined by 3.9% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.0% net profit margin). Market cap is less than US$100m (฿2.38b market cap, or US$75.6m).
Upcoming Dividend • Feb 03Upcoming dividend of ฿0.49 per shareEligible shareholders must have bought the stock before 10 February 2026. Payment date: 27 February 2026. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of Thai dividend payers (7.9%). Lower than average of industry peers (7.9%).
Declared Dividend • Nov 29Dividend reduced to ฿0.49Dividend of ฿0.49 is 43% lower than last year. Ex-date: 10th February 2026 Payment date: 27th February 2026 Dividend yield will be 4.2%, which is lower than the industry average of 8.0%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 34% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • Nov 28Inoue Rubber (Thailand) Public Company Limited Proposes Cash Dividend for the Year 2025, Payable on 27 February 2026The Board of Inoue Rubber (Thailand) Public Company Limited had thoroughly considered the Company's performance, the business plan and other factors that might occur in the future, then agreed to propose the Shareholder's meeting to approve the cash dividend payment in 2025, which is in accordance with the Company dividend payment policy, at the rate of THB 0.493 per share, which are paid from Non - BOI business at the rate of THB 0.493 per share, or equivalent to the total of THB 94,758,396.10. If the shareholders in AGM 2026 approve, the Company will pay the approved dividend to the shareholders who are entitled to the dividend payment and their names shows on the Record Dated for Dividend Payment on 11 February 2026. The dividend payment will be on 27 February 2026. Ex-dividend date: February 10, 2026.
お知らせ • Nov 27Inoue Rubber (Thailand) Public Company Limited, Annual General Meeting, Jan 30, 2026Inoue Rubber (Thailand) Public Company Limited, Annual General Meeting, Jan 30, 2026, at 14:00 SE Asia Standard Time. Location: office building, (thailand) public company limited, no. 258, soi rangsit nakornnayok 49, prachathipat, thanyaburi, 12130, thanyaburi Thailand
Reported Earnings • Nov 27Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: ฿0.96 (down from ฿1.62 in FY 2024). Revenue: ฿4.69b (up 1.8% from FY 2024). Net income: ฿184.3m (down 41% from FY 2024). Profit margin: 3.9% (down from 6.8% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 11%. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 5.1% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.
Reported Earnings • Aug 19Third quarter 2025 earnings released: EPS: ฿0.33 (vs ฿0.83 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.33 (down from ฿0.83 in 3Q 2024). Revenue: ฿1.18b (up 5.2% from 3Q 2024). Net income: ฿63.2m (down 60% from 3Q 2024). Profit margin: 5.4% (down from 14% in 3Q 2024). Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.
Buy Or Sell Opportunity • Jun 17Now 21% overvaluedOver the last 90 days, the stock has fallen 3.5% to ฿11.00. The fair value is estimated to be ฿9.10, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.3% over the last 3 years. Earnings per share has grown by 37%. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to decline by 4.1% in the next 2 years.
New Risk • May 24New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 159% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (฿2.23b market cap, or US$68.6m).
Reported Earnings • May 15Second quarter 2025 earnings released: EPS: ฿0.27 (vs ฿0.47 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.27 (down from ฿0.47 in 2Q 2024). Revenue: ฿1.23b (flat on 2Q 2024). Net income: ฿51.1m (down 44% from 2Q 2024). Profit margin: 4.2% (down from 7.4% in 2Q 2024). Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.
Buy Or Sell Opportunity • Apr 09Now 25% overvaluedOver the last 90 days, the stock has fallen 20% to ฿11.30. The fair value is estimated to be ฿9.04, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.6% over the last 3 years. Earnings per share has grown by 29%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to decline by 19% in the next 2 years.
Reported Earnings • Feb 15First quarter 2025 earnings released: EPS: ฿0.17 (vs ฿0.20 in 1Q 2024)First quarter 2025 results: EPS: ฿0.17 (down from ฿0.20 in 1Q 2024). Revenue: ฿1.16b (down 13% from 1Q 2024). Net income: ฿33.2m (down 36% from 1Q 2024). Profit margin: 2.9% (down from 3.9% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Feb 03Upcoming dividend of ฿0.87 per shareEligible shareholders must have bought the stock before 10 February 2025. Payment date: 28 February 2025. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 6.1%. Lower than top quartile of Thai dividend payers (7.3%). Lower than average of industry peers (6.9%).
お知らせ • Jan 30+ 1 more updateInoue Rubber (Thailand) Public Company Limited Announces Board and Committee ChangesInoue Rubber (Thailand) Public Company Limited at its board of directors meeting held on January 30, 2025, approved the appointment of Mr. Kiyoharu Mizushima as the new Director, Chairman of Executive Committee, and Vice Chairman of Risk Management and Sustainability Committee in replacement of Mr. Shigeki Yamada who will resign. The new director shall hold the remaining term in office of the resigned director. The appointment will be effective on February 1, 2025 onwards. Approved the appointment of Mrs. Anchalee Chavanich as the Chairman of Audit and Corporate Governance Committee for another term in office. The appointment will be effective on January 30, 2025 onwards. Approved the appointment of Mr. Kittichai Raktakanit as the Audit and Corporate Governance Committee director in replacement of Ms. Chunhachit Sungmai who resigned. The appointment will be effective on January 30, 2025 onwards. The Audit and Corporate Governance Committee consisted of; Chairman of the Committee - Mrs. Anchalee Chavanich remaining term in office 3 year (Due on AGM 2028). Member of the Committee - Mr. Kittichai Raktakanit remaining term in office 1 year (Due on AGM 2026). Member of the Committee - Mr. Surong Bulakul remaining term in office 1 year (Due on AGM 2026). Secretary of the Audit and Corporate Governance Committee is Ms. Kittunya Naruepracha.
Price Target Changed • Dec 04Price target decreased by 15% to ฿12.40Down from ฿14.57, the current price target is provided by 1 analyst. New target price is 12% below last closing price of ฿14.10. Stock is up 4.4% over the past year. The company is forecast to post earnings per share of ฿1.08 for next year compared to ฿1.62 last year.
New Risk • Nov 30New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 22% 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. Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Market cap is less than US$100m (฿2.78b market cap, or US$81.0m).
Reported Earnings • Nov 28Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2024 results: EPS: ฿1.62 (up from ฿0.83 in FY 2023). Revenue: ฿4.80b (down 12% from FY 2023). Net income: ฿311.5m (up 95% from FY 2023). Profit margin: 6.5% (up from 2.9% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 20%. Earnings per share (EPS) exceeded analyst estimates by 88%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.
お知らせ • Nov 27Inoue Rubber (Thailand) Public Company Limited, Annual General Meeting, Jan 30, 2025Inoue Rubber (Thailand) Public Company Limited, Annual General Meeting, Jan 30, 2025, at 14:00 SE Asia Standard Time. Location: v1 meeting room 2nd floor, office building, inoue rubber (thailand) public company limited, no. 258, soi rangsit nakornnayok 49, prachathipat, thanyaburi, 12130, Thailand
New Risk • Aug 21New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 32% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 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. Large one-off items impacting financial results. Market cap is less than US$100m (฿2.65b market cap, or US$77.4m).
New Risk • Aug 16New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 15% 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 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. Market cap is less than US$100m (฿2.67b market cap, or US$76.1m).
Reported Earnings • Aug 16Third quarter 2024 earnings released: EPS: ฿0.83 (vs ฿0.15 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.83 (up from ฿0.15 in 3Q 2023). Revenue: ฿1.26b (flat on 3Q 2023). Net income: ฿158.7m (up 434% from 3Q 2023). Profit margin: 13% (up from 2.3% in 3Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 13% 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.
New Risk • Jun 05New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 44% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (฿2.61b market cap, or US$71.5m).
Reported Earnings • May 16Second quarter 2024 earnings released: EPS: ฿0.47 (vs ฿0.32 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.47 (up from ฿0.32 in 2Q 2023). Revenue: ฿1.23b (down 16% from 2Q 2023). Net income: ฿90.6m (up 49% from 2Q 2023). Profit margin: 7.4% (up from 4.2% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.
お知らせ • May 15Inoue Rubber (Thailand) Public Company Limited Announces Board and Committee ChangesThe Board of Directors' meeting of Inoue Rubber (Thailand) Public Company Limited held on May 14, 2024, approved the appointment of Miss Chunhachit Sungmai as the new Independent Director, Audit Committee Director, and Chairman of Corporate Governance and Sustainability Committee in replacement of Assoc. Prof. Jaruporn Viyanant who resign. The new director shall hold the remaining term in office of the resigned director. This appointment was effective on May 15, 2024 onwards.
Reported Earnings • Feb 13First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2024 results: EPS: ฿0.27 (up from ฿0.08 in 1Q 2023). Revenue: ฿1.14b (down 23% from 1Q 2023). Net income: ฿51.7m (up 229% from 1Q 2023). Profit margin: 4.5% (up from 1.1% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 8.9%. Earnings per share (EPS) exceeded analyst estimates by 3.8%. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Feb 01Upcoming dividend of ฿0.42 per share at 3.0% yieldEligible shareholders must have bought the stock before 08 February 2024. Payment date: 28 February 2024. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Thai dividend payers (6.8%). Lower than average of industry peers (7.9%).
お知らせ • Jan 30Inoue Rubber (Thailand) Public Company Limited Approves the Appointment of Kenjiro Miwa as DirectorInoue Rubber (Thailand) Public Company Limited at its AGM held on January 29, 2024, approved the appointment of Mr. Kenjiro Miwa as director.
Major Estimate Revision • Dec 01Consensus EPS estimates fall by 30%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿6.27b to ฿5.73b. EPS estimate also fell from ฿1.23 per share to ฿0.86 per share. Net income forecast to grow 3.9% next year vs 15% growth forecast for Auto Components industry in Thailand. Consensus price target of ฿15.00 unchanged from last update. Share price was steady at ฿13.60 over the past week.
New Risk • Nov 29New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Market cap is less than US$100m (฿2.70b market cap, or US$77.8m).
Reported Earnings • Nov 25Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2023 results: EPS: ฿0.83 (up from ฿0.57 in FY 2022). Revenue: ฿5.48b (down 7.8% from FY 2022). Net income: ฿159.8m (up 45% from FY 2022). Profit margin: 2.9% (up from 1.9% in FY 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) exceeded analyst estimates by 7.8%. Revenue is forecast to grow 8.6% p.a. on average during the next 2 years, compared to a 9.2% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
お知らせ • Nov 25+ 2 more updatesInoue Rubber (Thailand) Public Company Limited Announces Executive ChangesThe Board of Directors' meeting of Inoue Rubber (Thailand) Public Company Limited on November 24, 2023, passed the resolution as follow; approved the appointment of Mr. Hideo Oya as the new Director in replacement of Mr. Kazuo Sato who resign. The new director shall hold the remaining term in office of the resigned director. This appointment was effective on November 24, 2023 onwards. Approved the appointment of Mr. Kanin Laochinda as the new Executive Director and Managing Director in addition. This appointment was effective on November 24, 2023 onwards.
Major Estimate Revision • Sep 22Consensus EPS estimates fall by 16%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ฿6.34b to ฿5.99b. EPS estimate also fell from ฿1.14 per share to ฿0.955 per share. Net income forecast to grow 61% next year vs 8.7% growth forecast for Auto Components industry in Thailand. Consensus price target up from ฿14.57 to ฿15.00. Share price was steady at ฿13.50 over the past week.
Reported Earnings • Aug 12Third quarter 2023 earnings released: EPS: ฿0.15 (vs ฿0.07 loss in 3Q 2022)Third quarter 2023 results: EPS: ฿0.15 (up from ฿0.07 loss in 3Q 2022). Revenue: ฿1.27b (down 9.1% from 3Q 2022). Net income: ฿29.7m (up ฿43.1m from 3Q 2022). Profit margin: 2.3% (up from net loss in 3Q 2022). The move to profitability was driven by lower expenses. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.
Reported Earnings • May 18Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behindSecond quarter 2023 results: EPS: ฿0.32 (down from ฿0.33 in 2Q 2022). Revenue: ฿1.46b (down 7.7% from 2Q 2022). Net income: ฿60.9m (down 5.0% from 2Q 2022). Profit margin: 4.2% (up from 4.1% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) exceeded analyst estimates by 60%. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
Upcoming Dividend • Feb 01Upcoming dividend of ฿0.29 per share at 2.0% yieldEligible shareholders must have bought the stock before 08 February 2023. Payment date: 28 February 2023. Payout ratio is a comfortable 51% but the company is paying out more than the cash it is generating. Trailing yield: 2.0%. Lower than top quartile of Thai dividend payers (5.5%). Lower than average of industry peers (5.9%).
お知らせ • Jan 31Inoue Rubber (Thailand) Public Company Limited Approve the Cash Dividend Payment for the Year 2022 (1 October 2021 30 September 2022) Dividend Payment Date Is 28 February 2023Inoue Rubber (Thailand) Public Company Limited at it's meeting resolved to approve the cash dividend payment for the year 2022 (1 October 2021 30 September 2022) to the shareholders at THB 0.2910 per share. The dividend will be paid from net profit derived from BOI business at THB 0.2496 per share, and from Non-BOI business at THB 0.0414 per share totaling 55,932,441 Baht, with votes of the shareholders attending the meeting and casting their votes. The record date to determine the names of shareholders who have the rights to receive the dividend is 9 February 2023 and the dividend payment date is 28 February 2023.
Major Estimate Revision • Dec 01Consensus forecasts updatedThe consensus outlook for 2023 has been updated. 2023 revenue forecast increased from ฿6.19b to ฿6.51b. EPS estimate fell from ฿1.41 to ฿1.26 per share. Net income forecast to grow 126% next year vs 5.3% growth forecast for Auto Components industry in Thailand. Consensus price target down from ฿17.30 to ฿16.00. Share price rose 3.7% to ฿14.00 over the past week.
Price Target Changed • Nov 30Price target decreased to ฿16.00Down from ฿17.30, the current price target is an average from 2 analysts. New target price is 15% above last closing price of ฿13.90. Stock is down 20% over the past year. The company is forecast to post earnings per share of ฿1.27 for next year compared to ฿0.57 last year.
Reported Earnings • Nov 26Full year 2022 earnings: EPS and revenues exceed analyst expectationsFull year 2022 results: EPS: ฿0.57 (down from ฿1.77 in FY 2021). Revenue: ฿5.94b (up 11% from FY 2021). Net income: ฿109.9m (down 68% from FY 2021). Profit margin: 1.9% (down from 6.4% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.0%. Earnings per share (EPS) also surpassed analyst estimates by 7.5%. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 4% per year.
お知らせ • Nov 25+ 1 more updateInoue Rubber (Thailand) Public Company Limited Proposes Dividend for the Year 2022, Payable on 28 February 2023Inoue Rubber (Thailand) Public Company Limited at its AGM to be held on January 30, 2023 proposed cash dividend payment for the year 2022, in accordance with the company dividend payment policy, at the rate of THB 0.2910 per share, equivalent to the total of THB 55,932,441. If the shareholders at AGM 2023 have approved the proposed dividend, the Record Date for the right to receive the dividend payment will be on 9 February 2023. The Ex-Dividend or XD date on which a share purchaser will not receive the dividend will be 8 February 2023. The dividend payment will be on 28 February 2023.
Board Change • Nov 16Less than half of directors are independentFollowing 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. 8 non-independent directors. Independent Director Anchalee Chavanich 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.
Major Estimate Revision • Aug 24Consensus EPS estimates fall by 55%The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from ฿5.90b to ฿5.65b. EPS estimate also fell from ฿1.17 per share to ฿0.53 per share. Net income forecast to grow 117% next year vs 11% growth forecast for Auto Components industry in Thailand. Consensus price target broadly unchanged at ฿17.30. Share price was steady at ฿14.50 over the past week.
Reported Earnings • Aug 13Third quarter 2022 earnings released: ฿0.07 loss per share (vs ฿0.30 profit in 3Q 2021)Third quarter 2022 results: ฿0.07 loss per share (down from ฿0.30 profit in 3Q 2021). Revenue: ฿1.40b (up 6.6% from 3Q 2021). Net loss: ฿13.4m (down 123% from profit in 3Q 2021). Over the next year, revenue is forecast to grow 9.0%, compared to a 4.0% growth forecast for the industry in Thailand. 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 4% per year, which means it is significantly lagging earnings.
お知らせ • Aug 11Inoue Rubber (Thailand) Public Company Limited Resolves to Change in Dividend Payment PolicyInoue Rubber (Thailand) Public Company Limited (the 'Company') announced that the board of directors' meeting No. 5/2022, held on 9 August 2022, has resolved to change the Company's dividend policy as follows: Existing Policy - The Company has a policy to pay dividend to shareholders not more than 65% of consolidated net profits after deducting the corporate income tax and legal reserve. The yearly payout shall be considered by many factors which should not materially affect the Company's normal business operation in the future. New Policy - The Company has a policy to pay dividend to shareholders not more than 65% of separate net prof its after deducting the corporate income tax and legal reserve. The yearly payout shall be considered by many factors which should not materially affect the Company's normal business operation in the future.
Major Estimate Revision • Jun 10Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from ฿5.64b to ฿5.90b. EPS estimate fell from ฿1.42 to ฿1.17 per share. Net income forecast to grow 53% next year vs 17% growth forecast for Auto Components industry in Thailand. Consensus price target down from ฿17.55 to ฿17.00. Share price rose 4.1% to ฿15.30 over the past week.
Reported Earnings • May 16Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindSecond quarter 2022 results: EPS: ฿0.33 (down from ฿0.69 in 2Q 2021). Revenue: ฿1.59b (up 12% from 2Q 2021). Net income: ฿64.2m (down 51% from 2Q 2021). Profit margin: 4.0% (down from 9.2% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) missed analyst estimates by 7.8%. Over the next year, revenue is forecast to grow 4.5%, compared to a 4.6% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.
お知らせ • May 14Inoue Rubber (Thailand) Public Company Limited Announces Director ChangesInoue Rubber (Thailand) Public Company Limited announced that Mr. Mitsuhiro Ito, an executive director, notified the Company in advance of his intention to resign as an executive director of the Company. His resignation will be effective from May 7, 2022, onwards. The company also approved the appointment of Mr. Akira Tokoro as an Executive Director, in replacement of Mr. Tomohiro Shamoto who resigned on July 4, 2021. This appointment will be effective on May 13, 2022 onwards.
Board Change • Apr 27Less than half of directors are independentFollowing 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. 8 non-independent directors. Independent Director Anchalee Chavanich 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.
Major Estimate Revision • Feb 22Consensus EPS estimates fall by 13%The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from ฿5.86b to ฿5.63b. EPS estimate also fell from ฿1.76 per share to ฿1.54 per share. Net income forecast to grow 32% next year vs 4.3% growth forecast for Auto Components industry in Thailand. Consensus price target down from ฿19.65 to ฿18.10. Share price fell 3.1% to ฿15.70 over the past week.
Reported Earnings • Feb 11First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2022 results: EPS: ฿0.14 (down from ฿0.63 in 1Q 2021). Revenue: ฿1.42b (up 5.6% from 1Q 2021). Net income: ฿27.1m (down 78% from 1Q 2021). Profit margin: 1.9% (down from 9.0% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) missed analyst estimates by 7.8%. Over the next year, revenue is forecast to grow 10% while the industry in Thailand is not expected to grow. 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 5% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Feb 01Upcoming dividend of ฿0.88 per shareEligible shareholders must have bought the stock before 08 February 2022. Payment date: 28 February 2022. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of Thai dividend payers (5.0%). Lower than average of industry peers (8.5%).
Upcoming Dividend • Feb 01Upcoming dividend of ฿0.88 per shareEligible shareholders must have bought the stock before 08 February 2022. Payment date: 28 February 2022. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of Thai dividend payers (5.0%). Lower than average of industry peers (8.5%).
お知らせ • Jan 30Inoue Rubber (Thailand) Public Company Limited Approves Cash Dividend for the Year 2021, Payable on 28 February 2022Inoue Rubber (Thailand) Public Company Limited, at its Annual General Meeting of Shareholders held on 28 January 2022 approved the cash dividend payment for the year 2021 (1 October 2020 30 September 2021) to the shareholders at THB 0.8845 per share. The record date to determine the names of shareholders who have the rights to receive the dividend is 9 February 2022 and the dividend payment date is 28 February 2022.
Major Estimate Revision • Dec 01Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from ฿5.68b to ฿5.86b. EPS estimate fell from ฿2.11 to ฿1.76 per share. Net income forecast to grow 17% next year vs 4.2% growth forecast for Auto Components industry in Thailand. Consensus price target down from ฿26.67 to ฿22.40. Share price was steady at ฿17.30 over the past week.
Reported Earnings • Nov 29Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2021 results: EPS: ฿1.77 (up from ฿1.12 in FY 2020). Revenue: ฿5.35b (up 21% from FY 2020). Net income: ฿340.0m (up 55% from FY 2020). Profit margin: 6.4% (up from 5.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) missed analyst estimates by 7.8%. Earnings per share (EPS) missed analyst estimates by 7.8%. Over the next year, revenue is forecast to grow 6.2%, compared to a 1.2% growth forecast for the industry in Thailand. 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 6% per year, which means it is significantly lagging earnings.
Reported Earnings • Aug 15Third quarter 2021 earnings released: EPS ฿0.30 (vs ฿0.11 loss in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿1.31b (up 77% from 3Q 2020). Net income: ฿57.7m (up ฿79.4m from 3Q 2020). Profit margin: 4.4% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 6% per year.
Reported Earnings • May 12Second quarter 2021 earnings released: EPS ฿0.69 (vs ฿0.50 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿1.45b (up 11% from 2Q 2020). Net income: ฿131.9m (up 33% from 2Q 2020). Profit margin: 9.1% (up from 7.6% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.
Valuation Update With 7 Day Price Move • Feb 18Investor sentiment improved over the past weekAfter last week's 19% share price gain to ฿17.20, the stock is trading at a trailing P/E ratio of 11.9x, up from the previous P/E ratio of 9.9x. This compares to an average P/E of 25x in the Auto Components industry in Thailand. Total return to shareholders over the past three years is a loss of 12%.
Reported Earnings • Feb 13First quarter 2021 earnings released: EPS ฿0.63 (vs ฿0.30 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿1.34b (up 7.8% from 1Q 2020). Net income: ฿121.2m (up 103% from 1Q 2020). Profit margin: 9.0% (up from 4.8% in 1Q 2020). The increase in margin was driven by higher revenue. 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 14% per year, which means it has not declined as severely as earnings.
Is New 90 Day High Low • Feb 04New 90-day high: ฿15.20The company is up 24% from its price of ฿12.30 on 06 November 2020. The Thai market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 4.0% over the same period.
Upcoming Dividend • Feb 01Upcoming Dividend of ฿0.57 Per ShareWill be paid on the 25th of February to those who are registered shareholders by the 8th of February. The trailing yield of 3.8% is below the top quartile of Thai dividend payers (6.3%), but is in line with industry peers (3.5%).
Is New 90 Day High Low • Jan 06New 90-day high: ฿14.40The company is up 21% from its price of ฿11.90 on 08 October 2020. The Thai market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 6.0% over the same period.
Is New 90 Day High Low • Dec 04New 90-day high: ฿13.90The company is up 14% from its price of ฿12.20 on 03 September 2020. The Thai market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 8.0% over the same period.
Reported Earnings • Nov 25Full year 2020 earnings released: EPS ฿1.12The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ฿4.43b (down 19% from FY 2019). Net income: ฿219.1m (up 32% from FY 2019). Profit margin: 4.9% (up from 3.0% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.
お知らせ • Nov 24Inoue Rubber (Thailand) Public Company Limited, Annual General Meeting, Jan 29, 2021Inoue Rubber (Thailand) Public Company Limited, Annual General Meeting, Jan 29, 2021, at 07:00 Coordinated Universal Time. Location: Vitya Memorial Hall, 2nd Floor 157 Moo 5 Phaholyothin Rd., Lamsai, Wangnoi Ayutthaya Thailand Agenda: To adopt the minutes of the 2020 Annual General Meeting of Shareholders (AGM), held on January 29, 2020; to acknowledge the company's operation results for the fiscal year 2020; to approve the financial statements for the year ended September 30, 2020; to approve the dividend payment for the year 2020; to re-elect directors who are due to retirement by rotation; to approve remuneration of the Board and Sub-Committees for the year 2021; to appoint the external auditors and approve the audit fee for the year 2021; and to consider other topics.
Is New 90 Day High Low • Nov 13New 90-day high: ฿13.10The company is up 2.0% from its price of ฿12.90 on 14 August 2020. The Thai market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Auto Components industry, which is up 6.0% over the same period.
Is New 90 Day High Low • Oct 19New 90-day low: ฿11.70The company is down 11% from its price of ฿13.10 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 Auto Components industry, which is up 2.0% over the same period.
Is New 90 Day High Low • Sep 24New 90-day low: ฿12.00The company is down 11% from its price of ฿13.50 on 26 June 2020. The Thai market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 1.0% over the same period.