View Past PerformancePolynet バランスシートの健全性財務の健全性 基準チェック /66Polynetの総株主資本はTHB1.3B 、総負債はTHB1.1Mで、負債比率は0.09%となります。総資産と総負債はそれぞれTHB1.6BとTHB349.6Mです。 Polynetの EBIT はTHB289.0Mで、利息カバレッジ比率-234.1です。現金および短期投資はTHB374.7Mです。主要情報0.086%負債資本比率฿1.09m負債インタレスト・カバレッジ・レシオ-234.1x現金฿374.65mエクイティ฿1.27b負債合計฿349.56m総資産฿1.62b財務の健全性に関する最新情報更新なしすべての更新を表示Recent updatesReported Earnings • 6hFirst quarter 2026 earnings released: EPS: ฿0.16 (vs ฿0.17 in 1Q 2025)First quarter 2026 results: EPS: ฿0.16 (down from ฿0.17 in 1Q 2025). Revenue: ฿291.0m (down 5.4% from 1Q 2025). Net income: ฿71.9m (down 5.4% from 1Q 2025). Profit margin: 25% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.お知らせ • Mar 28+ 1 more updatePolynet Public Company Limited Announces Board AppointmentsPolynet Public Company Limited announced that at the AGM held on 27 March 2026, Unanimously, resolved to approve the appointment of Mr. Chayathorn Leenharattanaruk as the independent director, Mr. Woraphat Laowrattana and Miss Janjira Laowrattana as the directors.Buy Or Sell Opportunity • Mar 25Now 25% overvaluedOver the last 90 days, the stock has fallen 4.2% to ฿6.85. The fair value is estimated to be ฿5.49, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.5% over the last 3 years. Earnings per share has grown by 18%.New Risk • Mar 17New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ฿3.20b (US$98.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 96% Cash payout ratio: 107% Minor Risk Market cap is less than US$100m (฿3.20b market cap, or US$98.7m).New Risk • Mar 02New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 96% Cash payout ratio: 107% Dividend yield: 7.5% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company.Reported Earnings • Feb 25Full year 2025 earnings released: EPS: ฿0.60 (vs ฿0.48 in FY 2024)Full year 2025 results: EPS: ฿0.60 (up from ฿0.48 in FY 2024). Revenue: ฿1.20b (up 17% from FY 2024). Net income: ฿268.1m (up 25% from FY 2024). Profit margin: 22% (up from 21% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.Declared Dividend • Feb 25Final dividend increased to ฿0.30Dividend of ฿0.30 is 20% higher than last year. Ex-date: 5th March 2026 Payment date: 17th April 2026 Dividend yield will be 7.5%, which is lower than the industry average of 8.0%. Sustainability & Growth Dividend is covered by earnings (88% earnings payout ratio) but not adequately covered by cash flows (97% cash payout ratio). The dividend has increased by an average of 48% per year over the past 3 years and payments have been stable during that time. Earnings per share has grown by 55% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.お知らせ • Feb 20Polynet Public Company Limited, Annual General Meeting, Mar 27, 2026Polynet Public Company Limited, Annual General Meeting, Mar 27, 2026, at 14:00 SE Asia Standard Time.Reported Earnings • Nov 14Third quarter 2025 earnings released: EPS: ฿0.17 (vs ฿0.13 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.17 (up from ฿0.13 in 3Q 2024). Revenue: ฿316.6m (up 25% from 3Q 2024). Net income: ฿76.1m (up 34% from 3Q 2024). Profit margin: 24% (up from 22% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.Buy Or Sell Opportunity • Nov 07Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 2.9% to ฿7.00. The fair value is estimated to be ฿5.82, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 12%.Reported Earnings • Aug 20Second quarter 2025 earnings released: EPS: ฿0.11 (vs ฿0.11 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.11 (up from ฿0.11 in 2Q 2024). Revenue: ฿275.2m (up 14% from 2Q 2024). Net income: ฿49.7m (up 4.6% from 2Q 2024). Profit margin: 18% (down from 20% in 2Q 2024). The decrease in margin was driven by higher expenses.Declared Dividend • Aug 16Dividend of ฿0.27 announcedShareholders will receive a dividend of ฿0.27. Ex-date: 27th August 2025 Payment date: 12th September 2025 Dividend yield will be 7.4%, which is lower than the industry average of 8.0%. Sustainability & Growth Dividend is covered by earnings (83% earnings payout ratio) but not covered by cash flows (111% cash payout ratio). The dividend has increased by an average of 68% per year over the past 2 years and payments have been stable during that time. Earnings per share has grown by 69% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Reported Earnings • May 17First quarter 2025 earnings released: EPS: ฿0.17 (vs ฿0.10 in 1Q 2024)First quarter 2025 results: EPS: ฿0.17 (up from ฿0.10 in 1Q 2024). Revenue: ฿307.6m (up 31% from 1Q 2024). Net income: ฿76.0m (up 65% from 1Q 2024). Profit margin: 25% (up from 20% in 1Q 2024). The increase in margin was driven by higher revenue.お知らせ • Mar 31Polynet Public Company Limited Approves Dividend for the Year Ended 31 December 2024, Payable on 17 April 2025Polynet Public Company Limited announced that at the 2025 Annual General Meeting of Shareholders, held on 28 March 2025, Unanimously, resolved to approve the appropriation of profit as a legal reserve in the amount of THB 6,550,000 and the payment of dividends for the shareholders at the rate of THB 0.25 per share, totaling THB 112,500,000 for the year ended 31 December 2024. By setting the record date to determine the list of shareholders entitled to receive dividends on 7 March 2025 (Record Date) and setting the payment of dividends to shareholders on 17 April 2025.Valuation Update With 7 Day Price Move • Feb 28Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ฿6.90, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 10x in the Auto Components industry in Thailand. Total loss to shareholders of 6.7% over the past year.Declared Dividend • Feb 26Final dividend reduced to ฿0.25Dividend of ฿0.25 is 14% lower than last year. Ex-date: 6th March 2025 Payment date: 17th April 2025 Dividend yield will be 6.0%, which is lower than the industry average of 8.0%. Sustainability & Growth Dividend is not adequately covered by earnings (95% earnings payout ratio). However, it is covered by cash flows (76% cash payout ratio). The dividend has increased by an average of 68% per year over the past 2 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 5.1% to bring the payout ratio under control, which is less than the 64% EPS growth achieved over the last 5 years.New Risk • Feb 25New minor risk - Dividend sustainabilityThe dividend is not well covered by earnings. Payout ratio: 95% Dividend yield: 5.3% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (95% payout ratio). Share price has been volatile over the past 3 months (9.0% average weekly change).Reported Earnings • Feb 23Full year 2024 earnings released: EPS: ฿0.48 (vs ฿0.39 in FY 2023)Full year 2024 results: EPS: ฿0.48 (up from ฿0.39 in FY 2023). Revenue: ฿1.02b (up 6.5% from FY 2023). Net income: ฿214.1m (up 22% from FY 2023). Profit margin: 21% (up from 18% in FY 2023). The increase in margin was driven by higher revenue.お知らせ • Feb 21Polynet Public Company Limited, Annual General Meeting, Mar 28, 2025Polynet Public Company Limited, Annual General Meeting, Mar 28, 2025, at 14:00 SE Asia Standard Time.New Risk • Jan 21New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.2% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (฿3.35b market cap, or US$98.3m).Upcoming Dividend • Aug 21Upcoming dividend of ฿0.20 per shareEligible shareholders must have bought the stock before 27 August 2024. Payment date: 12 September 2024. Payout ratio is on the higher end at 98%, however this is supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Thai dividend payers (6.8%). Lower than average of industry peers (6.2%).お知らせ • Aug 17Polynet Public Company Limited Announces Interim Cash Dividend for the Operating Period from 01 January 2024 to 30 June 2024, Payable on 12 September 2024Polynet Public Company Limited Announced the interim cash dividend of THB 0.20 per share for the operating period from 01 January 2024 to 30 June 2024, payable on 12 September 2024. Record date for the right to receive dividends is on 28 August 2024 with Ex-dividend date is on 27 August 2024.Reported Earnings • Aug 16Second quarter 2024 earnings released: EPS: ฿0.11 (vs ฿0.034 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.11 (up from ฿0.034 in 2Q 2023). Revenue: ฿240.6m (up 9.5% from 2Q 2023). Net income: ฿47.5m (up 212% from 2Q 2023). Profit margin: 20% (up from 6.9% in 2Q 2023).Declared Dividend • Aug 16First half dividend increased to ฿0.20Dividend of ฿0.20 is 122% higher than last year. Ex-date: 27th August 2024 Payment date: 12th September 2024 Dividend yield will be 5.3%, which is lower than the industry average of 8.0%. Sustainability & Growth Dividend is covered by both earnings (77% earnings payout ratio) and cash flows (68% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. Earnings per share has grown by 66% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Reported Earnings • May 16First quarter 2024 earnings released: EPS: ฿0.10 (vs ฿0.062 in 1Q 2023)First quarter 2024 results: EPS: ฿0.10 (up from ฿0.062 in 1Q 2023). Revenue: ฿234.6m (down 7.9% from 1Q 2023). Net income: ฿46.2m (up 66% from 1Q 2023). Profit margin: 20% (up from 11% in 1Q 2023).New Risk • Mar 02New 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 98% Cash payout ratio: 95% Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (฿3.53b market cap, or US$98.6m).Upcoming Dividend • Feb 29Upcoming dividend of ฿0.29 per shareEligible shareholders must have bought the stock before 07 March 2024. Payment date: 17 April 2024. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Thai dividend payers (6.3%). Lower than average of industry peers (6.2%).Reported Earnings • Feb 24Full year 2023 earnings released: EPS: ฿0.39 (vs ฿0.47 in FY 2022)Full year 2023 results: EPS: ฿0.39. Revenue: ฿961.3m (down 11% from FY 2022). Net income: ฿175.0m (up 8.3% from FY 2022). Profit margin: 18% (up from 15% in FY 2022). The increase in margin was driven by lower expenses.お知らせ • Feb 24Polynet Public Company Limited, Annual General Meeting, Mar 29, 2024Polynet Public Company Limited, Annual General Meeting, Mar 29, 2024, at 14:00 SE Asia Standard Time. Agenda: To consider and certify the minutes of 2023 Annual General Meeting of Shareholders; to consider and acknowledge the Company's operating result for the fiscal year of 2023, ended on 31 December 2023; to consider and approve the Company's financial statements for the fiscal year of 2023, ended on 31 December 2023; to consider and approve the appropriation of profits as legal reserve and dividend payment in respect of the Company's operating results ended as of 31 December 2023; to consider and approve the election of directors replacing those retired by rotation; to consider and approve the determination of the director's remuneration and sub-committee' remuneration for the year 2024; to consider and approve the appointment of the Company's auditor, and their remuneration; and to consider other matters.New Risk • Nov 20New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Large one-off items impacting financial results.New Risk • Nov 11New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 20% 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. This is currently the only risk that has been identified for the company.Reported Earnings • Nov 11Third quarter 2023 earnings released: EPS: ฿0.08 (vs ฿0.13 in 3Q 2022)Third quarter 2023 results: EPS: ฿0.08 (down from ฿0.13 in 3Q 2022). Revenue: ฿245.9m (down 6.6% from 3Q 2022). Net income: ฿37.0m (down 16% from 3Q 2022). Profit margin: 15% (down from 17% in 3Q 2022). Revenue is forecast to grow 37% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Auto Components industry in Thailand.Upcoming Dividend • Aug 16Upcoming dividend of ฿0.09 per share at 2.2% yieldEligible shareholders must have bought the stock before 23 August 2023. Payment date: 08 September 2023. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 2.2%. Lower than top quartile of Thai dividend payers (6.4%). Lower than average of industry peers (8.6%).New Risk • Aug 15New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. Cash payout ratio: 96% Dividend yield: 2.2% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company.Reported Earnings • Aug 12Second quarter 2023 earnings released: EPS: ฿0.03 (vs ฿0.13 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.03 (down from ฿0.13 in 2Q 2022). Revenue: ฿219.6m (down 17% from 2Q 2022). Net income: ฿15.2m (down 65% from 2Q 2022). Profit margin: 6.9% (down from 17% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 34% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Auto Components industry in Thailand.お知らせ • Aug 11Polynet Public Company Limited Announces Cash Dividend for the Six Months Ended June 30, 2023, Payable on September 8, 2023Polynet Public Company Limited announced cash dividend of THB 0.09 per share for the six months ended June 30, 2023, payable on September 8, 2023. Record date for the right to receive dividends is August 24, 2023 and Ex-dividend date is August 23, 2023.Upcoming Dividend • Apr 20Upcoming dividend of ฿0.08 per share at 1.4% yieldEligible shareholders must have bought the stock before 27 April 2023. Payment date: 19 May 2023. Payout ratio is a comfortable 34% but the company is paying out more than the cash it is generating. Trailing yield: 1.4%. Lower than top quartile of Thai dividend payers (5.9%). Lower than average of industry peers (6.4%).Valuation Update With 7 Day Price Move • Jan 23Investor sentiment improved over the past weekAfter last week's 18% share price gain to ฿12.90, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 17x in the Chemicals industry in Thailand.Valuation Update With 7 Day Price Move • Dec 21Investor sentiment deteriorated over the past weekAfter last week's 21% share price decline to ฿11.20, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 16x in the Chemicals industry in Thailand.お知らせ • Nov 17Polynet Public Company Limited has completed an IPO in the amount of THB 816 million.Polynet Public Company Limited has completed an IPO in the amount of THB 816 million. Security Name: Shares Security Type: Common Stock Securities Offered: 115,000,000 Price\Range: THB 6.8 Security Name: Shares Security Type: Common Stock Securities Offered: 5,000,000 Price\Range: THB 6.8財務状況分析短期負債: POLYの 短期資産 ( THB685.4M ) が 短期負債 ( THB312.0M ) を超えています。長期負債: POLYの短期資産 ( THB685.4M ) が 長期負債 ( THB37.6M ) を上回っています。デット・ツー・エクイティの歴史と分析負債レベル: POLY総負債よりも多くの現金を保有しています。負債の削減: POLYの負債対資本比率は、過去 5 年間で59.8%から0.09%に減少しました。債務返済能力: POLYの負債は 営業キャッシュフロー によって 十分にカバー されています ( 32947.1% )。インタレストカバレッジ: POLY支払う利息よりも稼ぐ利息の方が多いので、利息支払い の補償は問題になりません。貸借対照表健全な企業の発掘7D1Y7D1Y7D1YAutomobiles 業界の健全な企業。View Dividend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2026/05/21 17:15終値2026/05/21 00:00収益2026/03/31年間収益2025/12/31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本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、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。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Polynet 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。1 アナリスト機関Thakol BanjongruckYuanta Securities (Thailand) Company Limited
Reported Earnings • 6hFirst quarter 2026 earnings released: EPS: ฿0.16 (vs ฿0.17 in 1Q 2025)First quarter 2026 results: EPS: ฿0.16 (down from ฿0.17 in 1Q 2025). Revenue: ฿291.0m (down 5.4% from 1Q 2025). Net income: ฿71.9m (down 5.4% from 1Q 2025). Profit margin: 25% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.
お知らせ • Mar 28+ 1 more updatePolynet Public Company Limited Announces Board AppointmentsPolynet Public Company Limited announced that at the AGM held on 27 March 2026, Unanimously, resolved to approve the appointment of Mr. Chayathorn Leenharattanaruk as the independent director, Mr. Woraphat Laowrattana and Miss Janjira Laowrattana as the directors.
Buy Or Sell Opportunity • Mar 25Now 25% overvaluedOver the last 90 days, the stock has fallen 4.2% to ฿6.85. The fair value is estimated to be ฿5.49, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.5% over the last 3 years. Earnings per share has grown by 18%.
New Risk • Mar 17New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ฿3.20b (US$98.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 96% Cash payout ratio: 107% Minor Risk Market cap is less than US$100m (฿3.20b market cap, or US$98.7m).
New Risk • Mar 02New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 96% Cash payout ratio: 107% Dividend yield: 7.5% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company.
Reported Earnings • Feb 25Full year 2025 earnings released: EPS: ฿0.60 (vs ฿0.48 in FY 2024)Full year 2025 results: EPS: ฿0.60 (up from ฿0.48 in FY 2024). Revenue: ฿1.20b (up 17% from FY 2024). Net income: ฿268.1m (up 25% from FY 2024). Profit margin: 22% (up from 21% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
Declared Dividend • Feb 25Final dividend increased to ฿0.30Dividend of ฿0.30 is 20% higher than last year. Ex-date: 5th March 2026 Payment date: 17th April 2026 Dividend yield will be 7.5%, which is lower than the industry average of 8.0%. Sustainability & Growth Dividend is covered by earnings (88% earnings payout ratio) but not adequately covered by cash flows (97% cash payout ratio). The dividend has increased by an average of 48% per year over the past 3 years and payments have been stable during that time. Earnings per share has grown by 55% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
お知らせ • Feb 20Polynet Public Company Limited, Annual General Meeting, Mar 27, 2026Polynet Public Company Limited, Annual General Meeting, Mar 27, 2026, at 14:00 SE Asia Standard Time.
Reported Earnings • Nov 14Third quarter 2025 earnings released: EPS: ฿0.17 (vs ฿0.13 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.17 (up from ฿0.13 in 3Q 2024). Revenue: ฿316.6m (up 25% from 3Q 2024). Net income: ฿76.1m (up 34% from 3Q 2024). Profit margin: 24% (up from 22% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.
Buy Or Sell Opportunity • Nov 07Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 2.9% to ฿7.00. The fair value is estimated to be ฿5.82, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 12%.
Reported Earnings • Aug 20Second quarter 2025 earnings released: EPS: ฿0.11 (vs ฿0.11 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.11 (up from ฿0.11 in 2Q 2024). Revenue: ฿275.2m (up 14% from 2Q 2024). Net income: ฿49.7m (up 4.6% from 2Q 2024). Profit margin: 18% (down from 20% in 2Q 2024). The decrease in margin was driven by higher expenses.
Declared Dividend • Aug 16Dividend of ฿0.27 announcedShareholders will receive a dividend of ฿0.27. Ex-date: 27th August 2025 Payment date: 12th September 2025 Dividend yield will be 7.4%, which is lower than the industry average of 8.0%. Sustainability & Growth Dividend is covered by earnings (83% earnings payout ratio) but not covered by cash flows (111% cash payout ratio). The dividend has increased by an average of 68% per year over the past 2 years and payments have been stable during that time. Earnings per share has grown by 69% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Reported Earnings • May 17First quarter 2025 earnings released: EPS: ฿0.17 (vs ฿0.10 in 1Q 2024)First quarter 2025 results: EPS: ฿0.17 (up from ฿0.10 in 1Q 2024). Revenue: ฿307.6m (up 31% from 1Q 2024). Net income: ฿76.0m (up 65% from 1Q 2024). Profit margin: 25% (up from 20% in 1Q 2024). The increase in margin was driven by higher revenue.
お知らせ • Mar 31Polynet Public Company Limited Approves Dividend for the Year Ended 31 December 2024, Payable on 17 April 2025Polynet Public Company Limited announced that at the 2025 Annual General Meeting of Shareholders, held on 28 March 2025, Unanimously, resolved to approve the appropriation of profit as a legal reserve in the amount of THB 6,550,000 and the payment of dividends for the shareholders at the rate of THB 0.25 per share, totaling THB 112,500,000 for the year ended 31 December 2024. By setting the record date to determine the list of shareholders entitled to receive dividends on 7 March 2025 (Record Date) and setting the payment of dividends to shareholders on 17 April 2025.
Valuation Update With 7 Day Price Move • Feb 28Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ฿6.90, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 10x in the Auto Components industry in Thailand. Total loss to shareholders of 6.7% over the past year.
Declared Dividend • Feb 26Final dividend reduced to ฿0.25Dividend of ฿0.25 is 14% lower than last year. Ex-date: 6th March 2025 Payment date: 17th April 2025 Dividend yield will be 6.0%, which is lower than the industry average of 8.0%. Sustainability & Growth Dividend is not adequately covered by earnings (95% earnings payout ratio). However, it is covered by cash flows (76% cash payout ratio). The dividend has increased by an average of 68% per year over the past 2 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 5.1% to bring the payout ratio under control, which is less than the 64% EPS growth achieved over the last 5 years.
New Risk • Feb 25New minor risk - Dividend sustainabilityThe dividend is not well covered by earnings. Payout ratio: 95% Dividend yield: 5.3% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (95% payout ratio). Share price has been volatile over the past 3 months (9.0% average weekly change).
Reported Earnings • Feb 23Full year 2024 earnings released: EPS: ฿0.48 (vs ฿0.39 in FY 2023)Full year 2024 results: EPS: ฿0.48 (up from ฿0.39 in FY 2023). Revenue: ฿1.02b (up 6.5% from FY 2023). Net income: ฿214.1m (up 22% from FY 2023). Profit margin: 21% (up from 18% in FY 2023). The increase in margin was driven by higher revenue.
お知らせ • Feb 21Polynet Public Company Limited, Annual General Meeting, Mar 28, 2025Polynet Public Company Limited, Annual General Meeting, Mar 28, 2025, at 14:00 SE Asia Standard Time.
New Risk • Jan 21New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.2% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (฿3.35b market cap, or US$98.3m).
Upcoming Dividend • Aug 21Upcoming dividend of ฿0.20 per shareEligible shareholders must have bought the stock before 27 August 2024. Payment date: 12 September 2024. Payout ratio is on the higher end at 98%, however this is supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Thai dividend payers (6.8%). Lower than average of industry peers (6.2%).
お知らせ • Aug 17Polynet Public Company Limited Announces Interim Cash Dividend for the Operating Period from 01 January 2024 to 30 June 2024, Payable on 12 September 2024Polynet Public Company Limited Announced the interim cash dividend of THB 0.20 per share for the operating period from 01 January 2024 to 30 June 2024, payable on 12 September 2024. Record date for the right to receive dividends is on 28 August 2024 with Ex-dividend date is on 27 August 2024.
Reported Earnings • Aug 16Second quarter 2024 earnings released: EPS: ฿0.11 (vs ฿0.034 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.11 (up from ฿0.034 in 2Q 2023). Revenue: ฿240.6m (up 9.5% from 2Q 2023). Net income: ฿47.5m (up 212% from 2Q 2023). Profit margin: 20% (up from 6.9% in 2Q 2023).
Declared Dividend • Aug 16First half dividend increased to ฿0.20Dividend of ฿0.20 is 122% higher than last year. Ex-date: 27th August 2024 Payment date: 12th September 2024 Dividend yield will be 5.3%, which is lower than the industry average of 8.0%. Sustainability & Growth Dividend is covered by both earnings (77% earnings payout ratio) and cash flows (68% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. Earnings per share has grown by 66% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Reported Earnings • May 16First quarter 2024 earnings released: EPS: ฿0.10 (vs ฿0.062 in 1Q 2023)First quarter 2024 results: EPS: ฿0.10 (up from ฿0.062 in 1Q 2023). Revenue: ฿234.6m (down 7.9% from 1Q 2023). Net income: ฿46.2m (up 66% from 1Q 2023). Profit margin: 20% (up from 11% in 1Q 2023).
New Risk • Mar 02New 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 98% Cash payout ratio: 95% Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (฿3.53b market cap, or US$98.6m).
Upcoming Dividend • Feb 29Upcoming dividend of ฿0.29 per shareEligible shareholders must have bought the stock before 07 March 2024. Payment date: 17 April 2024. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Thai dividend payers (6.3%). Lower than average of industry peers (6.2%).
Reported Earnings • Feb 24Full year 2023 earnings released: EPS: ฿0.39 (vs ฿0.47 in FY 2022)Full year 2023 results: EPS: ฿0.39. Revenue: ฿961.3m (down 11% from FY 2022). Net income: ฿175.0m (up 8.3% from FY 2022). Profit margin: 18% (up from 15% in FY 2022). The increase in margin was driven by lower expenses.
お知らせ • Feb 24Polynet Public Company Limited, Annual General Meeting, Mar 29, 2024Polynet Public Company Limited, Annual General Meeting, Mar 29, 2024, at 14:00 SE Asia Standard Time. Agenda: To consider and certify the minutes of 2023 Annual General Meeting of Shareholders; to consider and acknowledge the Company's operating result for the fiscal year of 2023, ended on 31 December 2023; to consider and approve the Company's financial statements for the fiscal year of 2023, ended on 31 December 2023; to consider and approve the appropriation of profits as legal reserve and dividend payment in respect of the Company's operating results ended as of 31 December 2023; to consider and approve the election of directors replacing those retired by rotation; to consider and approve the determination of the director's remuneration and sub-committee' remuneration for the year 2024; to consider and approve the appointment of the Company's auditor, and their remuneration; and to consider other matters.
New Risk • Nov 20New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Large one-off items impacting financial results.
New Risk • Nov 11New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 20% 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. This is currently the only risk that has been identified for the company.
Reported Earnings • Nov 11Third quarter 2023 earnings released: EPS: ฿0.08 (vs ฿0.13 in 3Q 2022)Third quarter 2023 results: EPS: ฿0.08 (down from ฿0.13 in 3Q 2022). Revenue: ฿245.9m (down 6.6% from 3Q 2022). Net income: ฿37.0m (down 16% from 3Q 2022). Profit margin: 15% (down from 17% in 3Q 2022). Revenue is forecast to grow 37% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Auto Components industry in Thailand.
Upcoming Dividend • Aug 16Upcoming dividend of ฿0.09 per share at 2.2% yieldEligible shareholders must have bought the stock before 23 August 2023. Payment date: 08 September 2023. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 2.2%. Lower than top quartile of Thai dividend payers (6.4%). Lower than average of industry peers (8.6%).
New Risk • Aug 15New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. Cash payout ratio: 96% Dividend yield: 2.2% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company.
Reported Earnings • Aug 12Second quarter 2023 earnings released: EPS: ฿0.03 (vs ฿0.13 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.03 (down from ฿0.13 in 2Q 2022). Revenue: ฿219.6m (down 17% from 2Q 2022). Net income: ฿15.2m (down 65% from 2Q 2022). Profit margin: 6.9% (down from 17% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 34% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Auto Components industry in Thailand.
お知らせ • Aug 11Polynet Public Company Limited Announces Cash Dividend for the Six Months Ended June 30, 2023, Payable on September 8, 2023Polynet Public Company Limited announced cash dividend of THB 0.09 per share for the six months ended June 30, 2023, payable on September 8, 2023. Record date for the right to receive dividends is August 24, 2023 and Ex-dividend date is August 23, 2023.
Upcoming Dividend • Apr 20Upcoming dividend of ฿0.08 per share at 1.4% yieldEligible shareholders must have bought the stock before 27 April 2023. Payment date: 19 May 2023. Payout ratio is a comfortable 34% but the company is paying out more than the cash it is generating. Trailing yield: 1.4%. Lower than top quartile of Thai dividend payers (5.9%). Lower than average of industry peers (6.4%).
Valuation Update With 7 Day Price Move • Jan 23Investor sentiment improved over the past weekAfter last week's 18% share price gain to ฿12.90, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 17x in the Chemicals industry in Thailand.
Valuation Update With 7 Day Price Move • Dec 21Investor sentiment deteriorated over the past weekAfter last week's 21% share price decline to ฿11.20, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 16x in the Chemicals industry in Thailand.
お知らせ • Nov 17Polynet Public Company Limited has completed an IPO in the amount of THB 816 million.Polynet Public Company Limited has completed an IPO in the amount of THB 816 million. Security Name: Shares Security Type: Common Stock Securities Offered: 115,000,000 Price\Range: THB 6.8 Security Name: Shares Security Type: Common Stock Securities Offered: 5,000,000 Price\Range: THB 6.8