View ValuationArrow Syndicate 将来の成長Future 基準チェック /06現在、 Arrow Syndicate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Electrical 収益成長26.7%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Low最終更新日04 Dec 2025今後の成長に関する最新情報更新なしすべての更新を表示Recent updatesReported Earnings • May 12First quarter 2026 earnings released: EPS: ฿0.17 (vs ฿0.15 in 1Q 2025)First quarter 2026 results: EPS: ฿0.17 (up from ฿0.15 in 1Q 2025). Revenue: ฿318.3m (up 2.6% from 1Q 2025). Net income: ฿44.7m (up 14% from 1Q 2025). Profit margin: 14% (up from 13% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.Upcoming Dividend • Apr 29Upcoming dividend of ฿0.30 per shareEligible shareholders must have bought the stock before 06 May 2026. Payment date: 22 May 2026. Payout ratio is on the higher end at 75%, and the cash payout ratio is above 100%. Trailing yield: 7.5%. Within top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (5.6%).Reported Earnings • Mar 02Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: ฿0.53 (up from ฿0.44 in FY 2024). Revenue: ฿1.19b (down 7.8% from FY 2024). Net income: ฿136.7m (up 22% from FY 2024). Profit margin: 12% (up from 8.7% in FY 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 9.1%. Earnings per share (EPS) also missed analyst estimates by 12%. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.お知らせ • Feb 27Arrow Syndicate Public Company Limited Proposes Dividend for the Year 2025, Payable on May 22, 2026The Board of Directors' Meeting of Arrow Syndicate Public Company Limited No. 1/2026 held on February 24, 2026, passed the important resolutions as follows: Propose the Shareholders' meeting to approve the dividend payment from the retained earnings and the 2025's performance at the rate of THB 0.40 per share for the total dividend amount of THB 102,758,761.60 which interim dividend has been paid at the rate of THB 0.10 per share on September 5, 2025. The remaining dividend to pay at THB 0.30 per share for dividend payment THB of 77,069,071.20 shall be paid from. The dividend of THB 0.036 per share, equal to THB 9,248,288.54 shall be paid from the retained earnings and net profit which has except the corporate income tax from BOI privilege. The dividend of THB 0.264 per share, equal to THB 67,820,782.66 shall be paid from the retained earnings and net profit which has paid corporate income tax 20% (Non-BOI). The Company will identify rightful shareholders who may receive a dividend on May 7, 2026 (Record Date). The dividend shall be paid on May 22, 2026.Declared Dividend • Feb 26Dividend of ฿0.30 announcedShareholders will receive a dividend of ฿0.30. Ex-date: 6th May 2026 Payment date: 22nd May 2026 Dividend yield will be 7.4%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (69% earnings payout ratio) and cash flows (64% 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 13% over the next year, which should provide support to the dividend and adequate earnings cover.お知らせ • Feb 25Arrow Syndicate Public Company Limited, Annual General Meeting, Apr 23, 2026Arrow Syndicate Public Company Limited, Annual General Meeting, Apr 23, 2026, at 14:00 SE Asia Standard Time. Location: 163 mu.9, soi baring 68, sukhumvit 107 road, samrong naur, muang, samutprakarn, 10270 ThailandReported Earnings • Nov 12Third quarter 2025 earnings released: EPS: ฿0.16 (vs ฿0.17 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.16 (down from ฿0.17 in 3Q 2024). Revenue: ฿311.2m (down 12% from 3Q 2024). Net income: ฿40.1m (down 10% from 3Q 2024). Profit margin: 13% (in line with 3Q 2024). Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings.Declared Dividend • Aug 11First half dividend of ฿0.10 announcedDividend of ฿0.10 is the same as last year. Ex-date: 21st August 2025 Payment date: 5th September 2025 Dividend yield will be 7.0%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (48% earnings payout ratio) but not covered by cash flows (139% cash payout ratio). The dividend has increased by an average of 1.5% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 45% over the next year. However, it would need to fall by 47% to increase the payout ratio to a potentially unsustainable range.New Risk • Aug 09New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.0% 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 1.0% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (139% cash payout ratio). Market cap is less than US$100m (฿1.28b market cap, or US$39.7m).Reported Earnings • Aug 09Second quarter 2025 earnings released: EPS: ฿0.13 (vs ฿0.084 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.13 (up from ฿0.084 in 2Q 2024). Revenue: ฿277.2m (down 6.1% from 2Q 2024). Net income: ฿33.1m (up 53% from 2Q 2024). Profit margin: 12% (up from 7.3% in 2Q 2024). The increase in margin was driven by lower expenses. 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 14% per year, which means it is significantly lagging earnings.Reported Earnings • May 14First quarter 2025 earnings released: EPS: ฿0.15 (vs ฿0.11 in 1Q 2024)First quarter 2025 results: EPS: ฿0.15 (up from ฿0.11 in 1Q 2024). Revenue: ฿310.2m (down 5.3% from 1Q 2024). Net income: ฿39.1m (up 37% from 1Q 2024). Profit margin: 13% (up from 8.7% in 1Q 2024). The increase in margin was driven by lower expenses. 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 14% per year, which means it is significantly lagging earnings.Upcoming Dividend • Apr 29Upcoming dividend of ฿0.25 per shareEligible shareholders must have bought the stock before 06 May 2025. Payment date: 22 May 2025. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 6.9%. Lower than top quartile of Thai dividend payers (7.9%). In line with average of industry peers (6.7%).Declared Dividend • Mar 01Final dividend of ฿0.25 announcedDividend of ฿0.25 is the same as last year. Ex-date: 6th May 2025 Payment date: 22nd May 2025 Dividend yield will be 6.8%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (73% earnings payout ratio) and cash flows (39% cash payout ratio). The dividend has increased by an average of 1.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend.お知らせ • Feb 28+ 2 more updatesArrow Syndicate Public Company Limited Announces Change in Chief Executive OfficerArrow Syndicate Public Company Limited announced resignation of Mr. Lertchai Vongchaisit as Chief Executive Officer, the Expire Date is April 30, 2025. Effective Date: May 02, 1988. Terminate Reason: Resigned from position /the company due to personal reason. The new Chief Executive Officer is Mr. Panupong Wijitthongruang. Effective Date: May 01, 2025.Reported Earnings • Nov 12Third quarter 2024 earnings released: EPS: ฿0.17 (vs ฿0.15 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.17 (up from ฿0.15 in 3Q 2023). Revenue: ฿353.5m (up 3.4% from 3Q 2023). Net income: ฿44.6m (up 12% from 3Q 2023). Profit margin: 13% (up from 12% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings.お知らせ • Aug 09Arrow Syndicate Public Company Limited Announces Interim Dividend for the Period Ended June 30, 2024, Payable on September 6, 2024Arrow Syndicate Public Company Limited announced interim dividend for the period ended June 30, 2024 of THB 0.10 per share with the Ex-dividend date 21 August 2024 Record date for the right to receive dividends 22 August 2024 and Payment date 6 September 2024.Declared Dividend • Aug 09First half dividend of ฿0.10 announcedDividend of ฿0.10 is the same as last year. Ex-date: 21st August 2024 Payment date: 6th September 2024 Dividend yield will be 6.4%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (54% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has increased by an average of 2.8% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 40% to shift the payout ratio to a potentially unsustainable range, which is more than the 8.8% EPS decline seen over the last 5 years.Reported Earnings • Aug 08Second quarter 2024 earnings released: EPS: ฿0.084 (vs ฿0.087 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.084 (down from ฿0.087 in 2Q 2023). Revenue: ฿295.2m (down 7.5% from 2Q 2023). Net income: ฿21.7m (down 3.0% from 2Q 2023). Profit margin: 7.3% (up from 7.0% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 14% per year.Buy Or Sell Opportunity • Jul 01Now 20% overvaluedOver the last 90 days, the stock has fallen 9.9% to ฿5.90. The fair value is estimated to be ฿4.90, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.0% over the last 3 years. Earnings per share has declined by 19%.Reported Earnings • May 16First quarter 2024 earnings released: EPS: ฿0.11 (vs ฿0.043 in 1Q 2023)First quarter 2024 results: EPS: ฿0.11 (up from ฿0.043 in 1Q 2023). Revenue: ฿327.5m (down 8.0% from 1Q 2023). Net income: ฿28.7m (up 160% from 1Q 2023). Profit margin: 8.7% (up from 3.1% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.Reported Earnings • Feb 24Full year 2023 earnings: EPS and revenues miss analyst expectationsFull year 2023 results: EPS: ฿0.40 (up from ฿0.36 in FY 2022). Revenue: ฿1.34b (flat on FY 2022). Net income: ฿101.6m (up 9.7% from FY 2022). Profit margin: 7.6% (up from 6.9% in FY 2022). Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 20%. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.Declared Dividend • Feb 24Final dividend of ฿0.25 announcedDividend of ฿0.25 is the same as last year. Ex-date: 8th May 2024 Payment date: 23rd May 2024 Dividend yield will be 5.4%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (84% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has increased by an average of 4.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend.お知らせ • Feb 23Arrow Syndicate Public Company Limited, Annual General Meeting, Apr 24, 2024Arrow Syndicate Public Company Limited, Annual General Meeting, Apr 24, 2024, at 15:00 Singapore Standard Time. Location: 163 Mu.9, Soi Baring 68, Sukhumvit 107 Road Samrong Naur, Muang, Samutprakarn, 10270 Thailand Agenda: To consider and certify the minutes of AGM 1/2023 on April 27, 2023; to acknowledge the Company's operation performance of 2023 and operation plan for 2024; to consider and approve the Financial Statement as of December 31, 2023; to consider and approve the dividend payment from the Company's retained earnings and net profit of 2023; to consider the re-election of directors of the year 2024; to consider the new election of director for the year 2024; to consider and approve the remuneration of Directors for 2024; to consider and approve the appointment of an auditor and auditor fees of 2024; and to consider Other matters.お知らせ • Feb 22Arrow Syndicate Public Company Limited Proposes Dividend for the Year 2023, Payable on May 23, 2024Arrow Syndicate Public Company Limited at its AGM to be held on April 24, 2024 proposed the dividend payment from the retained earnings and the 2023's performance at the rate of THB 0.35 per share for the total dividend amount of THB 89,913,916.40 which interim dividend has been paid at the rate of THB 0.10 per share on September 7, 203. The remaining dividend to pay at THB 0.25 per share for the amount of dividend payment of THB 64,224,226.00 shall be paid from the retained earnings and net profit which has paid corporate income tax 20% (Non-BOI). The company will identify rightful shareholders who may receive a dividend on May 9, 2024 (Record Date). The dividend shall be paid on May 23, 2024.Reported Earnings • Nov 11Third quarter 2023 earnings released: EPS: ฿0.15 (vs ฿0.054 in 3Q 2022)Third quarter 2023 results: EPS: ฿0.15 (up from ฿0.054 in 3Q 2022). Revenue: ฿341.8m (down 2.6% from 3Q 2022). Net income: ฿39.8m (up 187% from 3Q 2022). Profit margin: 12% (up from 3.9% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Aug 15Upcoming dividend of ฿0.10 per share at 5.0% yieldEligible shareholders must have bought the stock before 22 August 2023. Payment date: 07 September 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.0%. Lower than top quartile of Thai dividend payers (6.4%). Higher than average of industry peers (4.2%).Reported Earnings • Aug 11Second quarter 2023 earnings released: EPS: ฿0.087 (vs ฿0.057 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.087 (up from ฿0.057 in 2Q 2022). Revenue: ฿319.2m (down 4.7% from 2Q 2022). Net income: ฿22.3m (up 52% from 2Q 2022). Profit margin: 7.0% (up from 4.4% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Electrical industry in Asia. 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 1% per year, which means it has not declined as severely as earnings.Buying Opportunity • Jul 03Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 9.2%. The fair value is estimated to be ฿8.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.9% over the last 3 years. Earnings per share has declined by 37%. Revenue is forecast to grow by 12% in a year. Earnings is forecast to grow by 77% in the next year.Reported Earnings • May 13First quarter 2023 earnings released: EPS: ฿0.043 (vs ฿0.12 in 1Q 2022)First quarter 2023 results: EPS: ฿0.043 (down from ฿0.12 in 1Q 2022). Revenue: ฿356.0m (up 8.8% from 1Q 2022). Net income: ฿11.0m (down 64% from 1Q 2022). Profit margin: 3.1% (down from 9.3% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.Upcoming Dividend • May 03Upcoming dividend of ฿0.25 per share at 4.9% yieldEligible shareholders must have bought the stock before 10 May 2023. Payment date: 26 May 2023. Payout ratio is on the higher end at 97%, and the cash payout ratio is above 100%. Trailing yield: 4.9%. Lower than top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (3.7%).Board Change • Nov 16Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 7 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Chairman of the Board Vichai Thosuwanchinda was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Upcoming Dividend • Aug 17Upcoming dividend of ฿0.10 per shareEligible shareholders must have bought the stock before 24 August 2022. Payment date: 09 September 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.9%. Within top quartile of Thai dividend payers (5.4%). Higher than average of industry peers (3.5%).お知らせ • Aug 13Arrow Syndicate Public Company Limited Announces Interim Dividend for the Period Ending June 30, 2022Arrow Syndicate Public Company Limited announced interim dividend for the period ending June 30, 2022 of THB 0.10 per share with the Ex-dividend date 24 Aug. 2022 Record date for the right to receive dividends 25 Aug. 2022Payment date 09 Sep. 2022.Reported Earnings • Aug 13Second quarter 2022 earnings released: EPS: ฿0.06 (vs ฿0.23 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.06 (down from ฿0.23 in 2Q 2021). Revenue: ฿334.9m (up 18% from 2Q 2021). Net income: ฿14.7m (down 75% from 2Q 2021). Profit margin: 4.4% (down from 21% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 15%, compared to a 49% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.Reported Earnings • May 15First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: ฿0.12 (down from ฿0.17 in 1Q 2021). Revenue: ฿327.0m (up 12% from 1Q 2021). Net income: ฿30.3m (down 29% from 1Q 2021). Profit margin: 9.3% (down from 15% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 8.5%. Earnings per share (EPS) also missed analyst estimates by 3.8%. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has remained flat, which means it is well ahead of earnings.Upcoming Dividend • May 03Upcoming dividend of ฿0.35 per shareEligible shareholders must have bought the stock before 10 May 2022. Payment date: 25 May 2022. Payout ratio is on the higher end at 89%, however this is supported by cash flows. Trailing yield: 5.4%. Within top quartile of Thai dividend payers (5.1%). Higher than average of industry peers (3.2%).Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 7 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Chairman of the Board Vichai Thosuwanchinda was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.お知らせ • Feb 25Arrow Syndicate Public Company Limited, Annual General Meeting, Apr 26, 2022Arrow Syndicate Public Company Limited, Annual General Meeting, Apr 26, 2022, at 14:00 SE Asia Standard Time. Location: 163 Mu.9, Soi Baring 68, Sukhumvit 107 Road, Samrong Naur, Muang Samutprakan Thailand Agenda: To consider and certify the minutes of AGM 1/2021 on April 26, 2021; to acknowledge the company's operation performance of 2021 and operation plan for 2022; to consider and approve the Financial Statement as of December 31, 2021; to consider and approve the dividend payment from the company's retained earnings and net profit of 2021; to consider the re-election directors of the year 2022; to consider and approve the remuneration of Directors for 2022; to consider and approve the appointment of an auditor and auditor fees of 2022; to consider and approve the decrease of the company's registered capital; and others (if any).お知らせ • Feb 24Arrow Syndicate Public Company Limited Proposes Dividend for the Year 2021, Payable on May 25, 2022Arrow Syndicate Public Company Limited proposed the Shareholders' meeting to approve the dividend payment from the retained earnings and the 2021's performance at the rate of THB 0.45 per share for the total dividend amount of THB 115,603,606.80 which interim dividend has been paid at the rate of THB 0.10 per share on December 9, 2021. Remaining dividend to pay at THB 0.35 per share for the amount of dividend payment of THB 89,913,916.40 shall be paid from the retained earnings and net profit which has paid corporate income tax 20% (Non-BOI). The Company will identify rightful shareholders who may receive dividend on May 11, 2022 (Record Date). The dividend shall be paid on May 25, 2022.Reported Earnings • Feb 24Full year 2021 earnings: EPS and revenues miss analyst expectationsFull year 2021 results: EPS: ฿0.50 (down from ฿0.66 in FY 2020). Revenue: ฿1.06b (down 18% from FY 2020). Net income: ฿128.7m (down 24% from FY 2020). Profit margin: 12% (down from 13% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 8.5%. Earnings per share (EPS) also missed analyst estimates by 3.8%. Over the next year, revenue is forecast to grow 14%, compared to a 49% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has remained flat, which means it is well ahead of earnings.Upcoming Dividend • Nov 18Upcoming dividend of ฿0.10 per shareEligible shareholders must have bought the stock before 25 November 2021. Payment date: 09 December 2021. Trailing yield: 5.4%. Within top quartile of Thai dividend payers (4.9%). Higher than average of industry peers (4.2%).Reported Earnings • Nov 12Third quarter 2021 earnings released: EPS ฿0.09 (vs ฿0.15 in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿205.1m (down 35% from 3Q 2020). Net income: ฿21.8m (down 43% from 3Q 2020). Profit margin: 11% (down from 12% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.Reported Earnings • May 15First quarter 2021 earnings released: EPS ฿0.17 (vs ฿0.25 in 1Q 2020)The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿293.3m (down 18% from 1Q 2020). Net income: ฿42.8m (down 32% from 1Q 2020). Profit margin: 15% (down from 18% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.Upcoming Dividend • May 04Upcoming dividend of ฿0.35 per shareEligible shareholders must have bought the stock before 10 May 2021. Payment date: 25 May 2021. Trailing yield: 5.3%. Within top quartile of Thai dividend payers (4.8%). Higher than average of industry peers (3.7%).Valuation Update With 7 Day Price Move • Apr 25Investor sentiment improved over the past weekAfter last week's 17% share price gain to ฿9.50, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 24x in the Electrical industry in Thailand. Total loss to shareholders of 6.2% over the past three years.Valuation Update With 7 Day Price Move • Mar 10Investor sentiment improved over the past weekAfter last week's 23% share price gain to ฿9.05, the stock is trading at a trailing P/E ratio of 13.7x, up from the previous P/E ratio of 11.1x. This compares to an average P/E of 20x in the Electrical industry in Thailand. Total return to shareholders over the past three years is a loss of 11%.Is New 90 Day High Low • Mar 09New 90-day high: ฿8.20The company is up 11% from its price of ฿7.40 on 09 December 2020. The Thai market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electrical industry, which is up 12% over the same period.お知らせ • Feb 24Arrow Syndicate Public Company Limited, Annual General Meeting, Apr 26, 2021Arrow Syndicate Public Company Limited, Annual General Meeting, Apr 26, 2021, at 07:00 Coordinated Universal Time. Location: Meeting Room, 3rd floor ,163 Mu.9, Soi Baring 68, Sukhumvit 107 Road, Samrong Naur Samutprakarn Muang Thailand Agenda: To consider and certify the minutes of AGM 1/2020 on June 15, 2020; to acknowledge the company's operation performance of 2020 and operation plan for 2021; to consider and approve the financial statement as of December 31, 2020; to consider and approve the dividend payment from the company's retained earnings and net profit of 2020; to consider the re-election directors of the year 2021; to consider and approve the remuneration of directors for 2021; to consider and approve the appointment of an auditor and auditor fees of 2021; and to consider and approve the decrease of the company's registered capital.Reported Earnings • Feb 24Full year 2020 earnings released: EPS ฿0.66 (vs ฿0.81 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿1.29b (down 11% from FY 2019). Net income: ฿169.0m (down 18% from FY 2019). Profit margin: 13% (down from 14% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.Analyst Estimate Surprise Post Earnings • Feb 24Revenue and earnings miss expectationsRevenue missed analyst estimates by 0.7%. Earnings per share (EPS) also missed analyst estimates by 7.0%. Over the next year, revenue is forecast to grow 11%, compared to a 33% growth forecast for the Electrical industry in Thailand.Is New 90 Day High Low • Jan 07New 90-day high: ฿7.65The company is up 5.0% from its price of ฿7.30 on 09 October 2020. The Thai market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 10.0% over the same period.Reported Earnings • Nov 11Third quarter 2020 earnings released: EPS ฿0.15The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿313.8m (down 19% from 3Q 2019). Net income: ฿38.2m (down 44% from 3Q 2019). Profit margin: 12% (down from 18% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings.Is New 90 Day High Low • Oct 16New 90-day low: ฿7.05The company is down 1.0% from its price of ฿7.15 on 17 July 2020. The Thai market is down 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is down 8.0% over the same period.Is New 90 Day High Low • Sep 22New 90-day high: ฿7.80The company is up 8.0% from its price of ฿7.25 on 24 June 2020. The Thai market is down 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is down 8.0% 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、Arrow Syndicate 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:ARROW - 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12/31/20261,373160385N/A13/31/20261,19714246226N/A12/31/20251,18913725174N/A9/30/20251,212130132271N/A6/30/20251,25413457166N/A3/31/20251,272123110139N/A12/31/20241,290112230248N/A9/30/20241,296123165192N/A6/30/20241,284119280310N/A3/31/20241,308119356383N/A12/31/20231,336102316350N/A9/30/20231,350107347382N/A6/30/20231,35981229269N/A3/31/20231,37473218258N/A12/31/20221,345932862N/A9/30/20221,29663-106-76N/A6/30/20221,15171-58-39N/A3/31/20221,099116-53-37N/A12/31/20211,065129206220N/A9/30/20211,078157313335N/A6/30/20211,187174368414N/A3/31/20211,228149230311N/A12/31/20201,29416990192N/A9/30/20201,32517611115N/A6/30/20201,3982065110N/A3/31/20201,44822668144N/A12/31/20191,451205N/A137N/A9/30/20191,482209N/A132N/A6/30/20191,500186N/A75N/A3/31/20191,432158N/A112N/A12/31/20181,454154N/A152N/A9/30/20181,455154N/A216N/A6/30/20181,437157N/A263N/A3/31/20181,459183N/A177N/A12/31/20171,436191N/A72N/A9/30/20171,429213N/A53N/A6/30/20171,424236N/A-46N/A3/31/20171,406240N/A99N/A12/31/20161,356263N/A201N/A9/30/20161,286258N/A199N/A6/30/20161,225254N/A297N/A3/31/20161,206253N/A247N/A12/31/20151,210246N/A218N/A9/30/20151,182228N/A168N/A6/30/20151,139202N/A130N/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: ARROW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: ARROW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: ARROW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: ARROW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: ARROW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: ARROW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7D1Y7D1Y7D1YCapital-goods 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2026/06/02 15:55終値2026/06/02 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Arrow Syndicate Public Company Limited 1 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Watcharain JongyanyongGloblex Securities Co. Ltd.
Reported Earnings • May 12First quarter 2026 earnings released: EPS: ฿0.17 (vs ฿0.15 in 1Q 2025)First quarter 2026 results: EPS: ฿0.17 (up from ฿0.15 in 1Q 2025). Revenue: ฿318.3m (up 2.6% from 1Q 2025). Net income: ฿44.7m (up 14% from 1Q 2025). Profit margin: 14% (up from 13% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Apr 29Upcoming dividend of ฿0.30 per shareEligible shareholders must have bought the stock before 06 May 2026. Payment date: 22 May 2026. Payout ratio is on the higher end at 75%, and the cash payout ratio is above 100%. Trailing yield: 7.5%. Within top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (5.6%).
Reported Earnings • Mar 02Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: ฿0.53 (up from ฿0.44 in FY 2024). Revenue: ฿1.19b (down 7.8% from FY 2024). Net income: ฿136.7m (up 22% from FY 2024). Profit margin: 12% (up from 8.7% in FY 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 9.1%. Earnings per share (EPS) also missed analyst estimates by 12%. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.
お知らせ • Feb 27Arrow Syndicate Public Company Limited Proposes Dividend for the Year 2025, Payable on May 22, 2026The Board of Directors' Meeting of Arrow Syndicate Public Company Limited No. 1/2026 held on February 24, 2026, passed the important resolutions as follows: Propose the Shareholders' meeting to approve the dividend payment from the retained earnings and the 2025's performance at the rate of THB 0.40 per share for the total dividend amount of THB 102,758,761.60 which interim dividend has been paid at the rate of THB 0.10 per share on September 5, 2025. The remaining dividend to pay at THB 0.30 per share for dividend payment THB of 77,069,071.20 shall be paid from. The dividend of THB 0.036 per share, equal to THB 9,248,288.54 shall be paid from the retained earnings and net profit which has except the corporate income tax from BOI privilege. The dividend of THB 0.264 per share, equal to THB 67,820,782.66 shall be paid from the retained earnings and net profit which has paid corporate income tax 20% (Non-BOI). The Company will identify rightful shareholders who may receive a dividend on May 7, 2026 (Record Date). The dividend shall be paid on May 22, 2026.
Declared Dividend • Feb 26Dividend of ฿0.30 announcedShareholders will receive a dividend of ฿0.30. Ex-date: 6th May 2026 Payment date: 22nd May 2026 Dividend yield will be 7.4%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (69% earnings payout ratio) and cash flows (64% 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 13% over the next year, which should provide support to the dividend and adequate earnings cover.
お知らせ • Feb 25Arrow Syndicate Public Company Limited, Annual General Meeting, Apr 23, 2026Arrow Syndicate Public Company Limited, Annual General Meeting, Apr 23, 2026, at 14:00 SE Asia Standard Time. Location: 163 mu.9, soi baring 68, sukhumvit 107 road, samrong naur, muang, samutprakarn, 10270 Thailand
Reported Earnings • Nov 12Third quarter 2025 earnings released: EPS: ฿0.16 (vs ฿0.17 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.16 (down from ฿0.17 in 3Q 2024). Revenue: ฿311.2m (down 12% from 3Q 2024). Net income: ฿40.1m (down 10% from 3Q 2024). Profit margin: 13% (in line with 3Q 2024). Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings.
Declared Dividend • Aug 11First half dividend of ฿0.10 announcedDividend of ฿0.10 is the same as last year. Ex-date: 21st August 2025 Payment date: 5th September 2025 Dividend yield will be 7.0%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (48% earnings payout ratio) but not covered by cash flows (139% cash payout ratio). The dividend has increased by an average of 1.5% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 45% over the next year. However, it would need to fall by 47% to increase the payout ratio to a potentially unsustainable range.
New Risk • Aug 09New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.0% 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 1.0% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (139% cash payout ratio). Market cap is less than US$100m (฿1.28b market cap, or US$39.7m).
Reported Earnings • Aug 09Second quarter 2025 earnings released: EPS: ฿0.13 (vs ฿0.084 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.13 (up from ฿0.084 in 2Q 2024). Revenue: ฿277.2m (down 6.1% from 2Q 2024). Net income: ฿33.1m (up 53% from 2Q 2024). Profit margin: 12% (up from 7.3% in 2Q 2024). The increase in margin was driven by lower expenses. 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 14% per year, which means it is significantly lagging earnings.
Reported Earnings • May 14First quarter 2025 earnings released: EPS: ฿0.15 (vs ฿0.11 in 1Q 2024)First quarter 2025 results: EPS: ฿0.15 (up from ฿0.11 in 1Q 2024). Revenue: ฿310.2m (down 5.3% from 1Q 2024). Net income: ฿39.1m (up 37% from 1Q 2024). Profit margin: 13% (up from 8.7% in 1Q 2024). The increase in margin was driven by lower expenses. 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 14% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Apr 29Upcoming dividend of ฿0.25 per shareEligible shareholders must have bought the stock before 06 May 2025. Payment date: 22 May 2025. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 6.9%. Lower than top quartile of Thai dividend payers (7.9%). In line with average of industry peers (6.7%).
Declared Dividend • Mar 01Final dividend of ฿0.25 announcedDividend of ฿0.25 is the same as last year. Ex-date: 6th May 2025 Payment date: 22nd May 2025 Dividend yield will be 6.8%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (73% earnings payout ratio) and cash flows (39% cash payout ratio). The dividend has increased by an average of 1.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend.
お知らせ • Feb 28+ 2 more updatesArrow Syndicate Public Company Limited Announces Change in Chief Executive OfficerArrow Syndicate Public Company Limited announced resignation of Mr. Lertchai Vongchaisit as Chief Executive Officer, the Expire Date is April 30, 2025. Effective Date: May 02, 1988. Terminate Reason: Resigned from position /the company due to personal reason. The new Chief Executive Officer is Mr. Panupong Wijitthongruang. Effective Date: May 01, 2025.
Reported Earnings • Nov 12Third quarter 2024 earnings released: EPS: ฿0.17 (vs ฿0.15 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.17 (up from ฿0.15 in 3Q 2023). Revenue: ฿353.5m (up 3.4% from 3Q 2023). Net income: ฿44.6m (up 12% from 3Q 2023). Profit margin: 13% (up from 12% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings.
お知らせ • Aug 09Arrow Syndicate Public Company Limited Announces Interim Dividend for the Period Ended June 30, 2024, Payable on September 6, 2024Arrow Syndicate Public Company Limited announced interim dividend for the period ended June 30, 2024 of THB 0.10 per share with the Ex-dividend date 21 August 2024 Record date for the right to receive dividends 22 August 2024 and Payment date 6 September 2024.
Declared Dividend • Aug 09First half dividend of ฿0.10 announcedDividend of ฿0.10 is the same as last year. Ex-date: 21st August 2024 Payment date: 6th September 2024 Dividend yield will be 6.4%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (54% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has increased by an average of 2.8% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 40% to shift the payout ratio to a potentially unsustainable range, which is more than the 8.8% EPS decline seen over the last 5 years.
Reported Earnings • Aug 08Second quarter 2024 earnings released: EPS: ฿0.084 (vs ฿0.087 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.084 (down from ฿0.087 in 2Q 2023). Revenue: ฿295.2m (down 7.5% from 2Q 2023). Net income: ฿21.7m (down 3.0% from 2Q 2023). Profit margin: 7.3% (up from 7.0% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 14% per year.
Buy Or Sell Opportunity • Jul 01Now 20% overvaluedOver the last 90 days, the stock has fallen 9.9% to ฿5.90. The fair value is estimated to be ฿4.90, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.0% over the last 3 years. Earnings per share has declined by 19%.
Reported Earnings • May 16First quarter 2024 earnings released: EPS: ฿0.11 (vs ฿0.043 in 1Q 2023)First quarter 2024 results: EPS: ฿0.11 (up from ฿0.043 in 1Q 2023). Revenue: ฿327.5m (down 8.0% from 1Q 2023). Net income: ฿28.7m (up 160% from 1Q 2023). Profit margin: 8.7% (up from 3.1% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.
Reported Earnings • Feb 24Full year 2023 earnings: EPS and revenues miss analyst expectationsFull year 2023 results: EPS: ฿0.40 (up from ฿0.36 in FY 2022). Revenue: ฿1.34b (flat on FY 2022). Net income: ฿101.6m (up 9.7% from FY 2022). Profit margin: 7.6% (up from 6.9% in FY 2022). Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 20%. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.
Declared Dividend • Feb 24Final dividend of ฿0.25 announcedDividend of ฿0.25 is the same as last year. Ex-date: 8th May 2024 Payment date: 23rd May 2024 Dividend yield will be 5.4%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (84% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has increased by an average of 4.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend.
お知らせ • Feb 23Arrow Syndicate Public Company Limited, Annual General Meeting, Apr 24, 2024Arrow Syndicate Public Company Limited, Annual General Meeting, Apr 24, 2024, at 15:00 Singapore Standard Time. Location: 163 Mu.9, Soi Baring 68, Sukhumvit 107 Road Samrong Naur, Muang, Samutprakarn, 10270 Thailand Agenda: To consider and certify the minutes of AGM 1/2023 on April 27, 2023; to acknowledge the Company's operation performance of 2023 and operation plan for 2024; to consider and approve the Financial Statement as of December 31, 2023; to consider and approve the dividend payment from the Company's retained earnings and net profit of 2023; to consider the re-election of directors of the year 2024; to consider the new election of director for the year 2024; to consider and approve the remuneration of Directors for 2024; to consider and approve the appointment of an auditor and auditor fees of 2024; and to consider Other matters.
お知らせ • Feb 22Arrow Syndicate Public Company Limited Proposes Dividend for the Year 2023, Payable on May 23, 2024Arrow Syndicate Public Company Limited at its AGM to be held on April 24, 2024 proposed the dividend payment from the retained earnings and the 2023's performance at the rate of THB 0.35 per share for the total dividend amount of THB 89,913,916.40 which interim dividend has been paid at the rate of THB 0.10 per share on September 7, 203. The remaining dividend to pay at THB 0.25 per share for the amount of dividend payment of THB 64,224,226.00 shall be paid from the retained earnings and net profit which has paid corporate income tax 20% (Non-BOI). The company will identify rightful shareholders who may receive a dividend on May 9, 2024 (Record Date). The dividend shall be paid on May 23, 2024.
Reported Earnings • Nov 11Third quarter 2023 earnings released: EPS: ฿0.15 (vs ฿0.054 in 3Q 2022)Third quarter 2023 results: EPS: ฿0.15 (up from ฿0.054 in 3Q 2022). Revenue: ฿341.8m (down 2.6% from 3Q 2022). Net income: ฿39.8m (up 187% from 3Q 2022). Profit margin: 12% (up from 3.9% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Aug 15Upcoming dividend of ฿0.10 per share at 5.0% yieldEligible shareholders must have bought the stock before 22 August 2023. Payment date: 07 September 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.0%. Lower than top quartile of Thai dividend payers (6.4%). Higher than average of industry peers (4.2%).
Reported Earnings • Aug 11Second quarter 2023 earnings released: EPS: ฿0.087 (vs ฿0.057 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.087 (up from ฿0.057 in 2Q 2022). Revenue: ฿319.2m (down 4.7% from 2Q 2022). Net income: ฿22.3m (up 52% from 2Q 2022). Profit margin: 7.0% (up from 4.4% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Electrical industry in Asia. 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 1% per year, which means it has not declined as severely as earnings.
Buying Opportunity • Jul 03Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 9.2%. The fair value is estimated to be ฿8.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.9% over the last 3 years. Earnings per share has declined by 37%. Revenue is forecast to grow by 12% in a year. Earnings is forecast to grow by 77% in the next year.
Reported Earnings • May 13First quarter 2023 earnings released: EPS: ฿0.043 (vs ฿0.12 in 1Q 2022)First quarter 2023 results: EPS: ฿0.043 (down from ฿0.12 in 1Q 2022). Revenue: ฿356.0m (up 8.8% from 1Q 2022). Net income: ฿11.0m (down 64% from 1Q 2022). Profit margin: 3.1% (down from 9.3% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • May 03Upcoming dividend of ฿0.25 per share at 4.9% yieldEligible shareholders must have bought the stock before 10 May 2023. Payment date: 26 May 2023. Payout ratio is on the higher end at 97%, and the cash payout ratio is above 100%. Trailing yield: 4.9%. Lower than top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (3.7%).
Board Change • Nov 16Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 7 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Chairman of the Board Vichai Thosuwanchinda was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Upcoming Dividend • Aug 17Upcoming dividend of ฿0.10 per shareEligible shareholders must have bought the stock before 24 August 2022. Payment date: 09 September 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.9%. Within top quartile of Thai dividend payers (5.4%). Higher than average of industry peers (3.5%).
お知らせ • Aug 13Arrow Syndicate Public Company Limited Announces Interim Dividend for the Period Ending June 30, 2022Arrow Syndicate Public Company Limited announced interim dividend for the period ending June 30, 2022 of THB 0.10 per share with the Ex-dividend date 24 Aug. 2022 Record date for the right to receive dividends 25 Aug. 2022Payment date 09 Sep. 2022.
Reported Earnings • Aug 13Second quarter 2022 earnings released: EPS: ฿0.06 (vs ฿0.23 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.06 (down from ฿0.23 in 2Q 2021). Revenue: ฿334.9m (up 18% from 2Q 2021). Net income: ฿14.7m (down 75% from 2Q 2021). Profit margin: 4.4% (down from 21% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 15%, compared to a 49% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.
Reported Earnings • May 15First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: ฿0.12 (down from ฿0.17 in 1Q 2021). Revenue: ฿327.0m (up 12% from 1Q 2021). Net income: ฿30.3m (down 29% from 1Q 2021). Profit margin: 9.3% (down from 15% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 8.5%. Earnings per share (EPS) also missed analyst estimates by 3.8%. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
Upcoming Dividend • May 03Upcoming dividend of ฿0.35 per shareEligible shareholders must have bought the stock before 10 May 2022. Payment date: 25 May 2022. Payout ratio is on the higher end at 89%, however this is supported by cash flows. Trailing yield: 5.4%. Within top quartile of Thai dividend payers (5.1%). Higher than average of industry peers (3.2%).
Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 7 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Chairman of the Board Vichai Thosuwanchinda was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
お知らせ • Feb 25Arrow Syndicate Public Company Limited, Annual General Meeting, Apr 26, 2022Arrow Syndicate Public Company Limited, Annual General Meeting, Apr 26, 2022, at 14:00 SE Asia Standard Time. Location: 163 Mu.9, Soi Baring 68, Sukhumvit 107 Road, Samrong Naur, Muang Samutprakan Thailand Agenda: To consider and certify the minutes of AGM 1/2021 on April 26, 2021; to acknowledge the company's operation performance of 2021 and operation plan for 2022; to consider and approve the Financial Statement as of December 31, 2021; to consider and approve the dividend payment from the company's retained earnings and net profit of 2021; to consider the re-election directors of the year 2022; to consider and approve the remuneration of Directors for 2022; to consider and approve the appointment of an auditor and auditor fees of 2022; to consider and approve the decrease of the company's registered capital; and others (if any).
お知らせ • Feb 24Arrow Syndicate Public Company Limited Proposes Dividend for the Year 2021, Payable on May 25, 2022Arrow Syndicate Public Company Limited proposed the Shareholders' meeting to approve the dividend payment from the retained earnings and the 2021's performance at the rate of THB 0.45 per share for the total dividend amount of THB 115,603,606.80 which interim dividend has been paid at the rate of THB 0.10 per share on December 9, 2021. Remaining dividend to pay at THB 0.35 per share for the amount of dividend payment of THB 89,913,916.40 shall be paid from the retained earnings and net profit which has paid corporate income tax 20% (Non-BOI). The Company will identify rightful shareholders who may receive dividend on May 11, 2022 (Record Date). The dividend shall be paid on May 25, 2022.
Reported Earnings • Feb 24Full year 2021 earnings: EPS and revenues miss analyst expectationsFull year 2021 results: EPS: ฿0.50 (down from ฿0.66 in FY 2020). Revenue: ฿1.06b (down 18% from FY 2020). Net income: ฿128.7m (down 24% from FY 2020). Profit margin: 12% (down from 13% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 8.5%. Earnings per share (EPS) also missed analyst estimates by 3.8%. Over the next year, revenue is forecast to grow 14%, compared to a 49% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
Upcoming Dividend • Nov 18Upcoming dividend of ฿0.10 per shareEligible shareholders must have bought the stock before 25 November 2021. Payment date: 09 December 2021. Trailing yield: 5.4%. Within top quartile of Thai dividend payers (4.9%). Higher than average of industry peers (4.2%).
Reported Earnings • Nov 12Third quarter 2021 earnings released: EPS ฿0.09 (vs ฿0.15 in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿205.1m (down 35% from 3Q 2020). Net income: ฿21.8m (down 43% from 3Q 2020). Profit margin: 11% (down from 12% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.
Reported Earnings • May 15First quarter 2021 earnings released: EPS ฿0.17 (vs ฿0.25 in 1Q 2020)The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿293.3m (down 18% from 1Q 2020). Net income: ฿42.8m (down 32% from 1Q 2020). Profit margin: 15% (down from 18% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.
Upcoming Dividend • May 04Upcoming dividend of ฿0.35 per shareEligible shareholders must have bought the stock before 10 May 2021. Payment date: 25 May 2021. Trailing yield: 5.3%. Within top quartile of Thai dividend payers (4.8%). Higher than average of industry peers (3.7%).
Valuation Update With 7 Day Price Move • Apr 25Investor sentiment improved over the past weekAfter last week's 17% share price gain to ฿9.50, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 24x in the Electrical industry in Thailand. Total loss to shareholders of 6.2% over the past three years.
Valuation Update With 7 Day Price Move • Mar 10Investor sentiment improved over the past weekAfter last week's 23% share price gain to ฿9.05, the stock is trading at a trailing P/E ratio of 13.7x, up from the previous P/E ratio of 11.1x. This compares to an average P/E of 20x in the Electrical industry in Thailand. Total return to shareholders over the past three years is a loss of 11%.
Is New 90 Day High Low • Mar 09New 90-day high: ฿8.20The company is up 11% from its price of ฿7.40 on 09 December 2020. The Thai market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electrical industry, which is up 12% over the same period.
お知らせ • Feb 24Arrow Syndicate Public Company Limited, Annual General Meeting, Apr 26, 2021Arrow Syndicate Public Company Limited, Annual General Meeting, Apr 26, 2021, at 07:00 Coordinated Universal Time. Location: Meeting Room, 3rd floor ,163 Mu.9, Soi Baring 68, Sukhumvit 107 Road, Samrong Naur Samutprakarn Muang Thailand Agenda: To consider and certify the minutes of AGM 1/2020 on June 15, 2020; to acknowledge the company's operation performance of 2020 and operation plan for 2021; to consider and approve the financial statement as of December 31, 2020; to consider and approve the dividend payment from the company's retained earnings and net profit of 2020; to consider the re-election directors of the year 2021; to consider and approve the remuneration of directors for 2021; to consider and approve the appointment of an auditor and auditor fees of 2021; and to consider and approve the decrease of the company's registered capital.
Reported Earnings • Feb 24Full year 2020 earnings released: EPS ฿0.66 (vs ฿0.81 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿1.29b (down 11% from FY 2019). Net income: ฿169.0m (down 18% from FY 2019). Profit margin: 13% (down from 14% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.
Analyst Estimate Surprise Post Earnings • Feb 24Revenue and earnings miss expectationsRevenue missed analyst estimates by 0.7%. Earnings per share (EPS) also missed analyst estimates by 7.0%. Over the next year, revenue is forecast to grow 11%, compared to a 33% growth forecast for the Electrical industry in Thailand.
Is New 90 Day High Low • Jan 07New 90-day high: ฿7.65The company is up 5.0% from its price of ฿7.30 on 09 October 2020. The Thai market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 10.0% over the same period.
Reported Earnings • Nov 11Third quarter 2020 earnings released: EPS ฿0.15The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿313.8m (down 19% from 3Q 2019). Net income: ฿38.2m (down 44% from 3Q 2019). Profit margin: 12% (down from 18% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings.
Is New 90 Day High Low • Oct 16New 90-day low: ฿7.05The company is down 1.0% from its price of ฿7.15 on 17 July 2020. The Thai market is down 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is down 8.0% over the same period.
Is New 90 Day High Low • Sep 22New 90-day high: ฿7.80The company is up 8.0% from its price of ฿7.25 on 24 June 2020. The Thai market is down 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is down 8.0% over the same period.