View Future GrowthHarn Engineering Solutions 過去の業績過去 基準チェック /56Harn Engineering Solutionsは、平均年間4.3%の収益成長を遂げていますが、 Trade Distributors業界の収益は、年間 減少しています。収益は、平均年間13.4% 3.6%収益成長率で 成長しています。 Harn Engineering Solutionsの自己資本利益率は7%であり、純利益率は8.1%です。主要情報4.31%収益成長率4.31%EPS成長率Trade Distributors 業界の成長5.76%収益成長率3.60%株主資本利益率7.04%ネット・マージン8.12%次回の業績アップデート27 May 2026最近の業績更新Reported Earnings • May 21First quarter 2026 earnings released: EPS: ฿0.057 (vs ฿0.027 in 1Q 2025)First quarter 2026 results: EPS: ฿0.057 (up from ฿0.027 in 1Q 2025). Revenue: ฿343.5m (up 11% from 1Q 2025). Net income: ฿33.1m (up 108% from 1Q 2025). Profit margin: 9.6% (up from 5.1% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 3% per year.Reported Earnings • Nov 15Third quarter 2025 earnings released: EPS: ฿0.039 (vs ฿0.056 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.039 (down from ฿0.056 in 3Q 2024). Revenue: ฿307.1m (down 11% from 3Q 2024). Net income: ฿22.6m (down 31% from 3Q 2024). Profit margin: 7.4% (down from 9.5% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year and the company’s share price has also fallen by 4% per year.Reported Earnings • Aug 15Second quarter 2025 earnings released: EPS: ฿0.039 (vs ฿0.031 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.039 (up from ฿0.031 in 2Q 2024). Revenue: ฿302.6m (up 8.0% from 2Q 2024). Net income: ฿22.6m (up 25% from 2Q 2024). Profit margin: 7.5% (up from 6.5% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 2% per year.Reported Earnings • May 17First quarter 2025 earnings released: EPS: ฿0.027 (vs ฿0.03 in 1Q 2024)First quarter 2025 results: EPS: ฿0.027 (down from ฿0.03 in 1Q 2024). Revenue: ฿309.7m (up 13% from 1Q 2024). Net income: ฿15.9m (down 8.3% from 1Q 2024). Profit margin: 5.1% (down from 6.3% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.Reported Earnings • Mar 01Full year 2024 earnings released: EPS: ฿0.15 (vs ฿0.20 in FY 2023)Full year 2024 results: EPS: ฿0.15 (down from ฿0.20 in FY 2023). Revenue: ฿1.27b (down 4.1% from FY 2023). Net income: ฿87.6m (down 23% from FY 2023). Profit margin: 6.9% (down from 8.6% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.Reported Earnings • Nov 19Third quarter 2024 earnings released: EPS: ฿0.056 (vs ฿0.05 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.056 (up from ฿0.05 in 3Q 2023). Revenue: ฿345.1m (flat on 3Q 2023). Net income: ฿32.6m (up 12% from 3Q 2023). Profit margin: 9.5% (up from 8.5% in 3Q 2023). 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 4% per year, which means it is significantly lagging earnings.すべての更新を表示Recent updatesReported Earnings • May 21First quarter 2026 earnings released: EPS: ฿0.057 (vs ฿0.027 in 1Q 2025)First quarter 2026 results: EPS: ฿0.057 (up from ฿0.027 in 1Q 2025). Revenue: ฿343.5m (up 11% from 1Q 2025). Net income: ฿33.1m (up 108% from 1Q 2025). Profit margin: 9.6% (up from 5.1% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 3% per year.Upcoming Dividend • Apr 30Upcoming dividend of ฿0.12 per shareEligible shareholders must have bought the stock before 07 May 2026. Payment date: 22 May 2026. Payout ratio is on the higher end at 84%, however this is supported by cash flows. Trailing yield: 5.9%. Lower than top quartile of Thai dividend payers (7.5%). In line with average of industry peers (6.3%).Declared Dividend • Mar 02Dividend of ฿0.12 announcedDividend of ฿0.12 is the same as last year. Ex-date: 7th May 2026 Payment date: 22nd May 2026 Dividend yield will be 5.9%, which is lower than the industry average of 7.1%. Sustainability & Growth Dividend is covered by both earnings (87% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 1.8% 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 3.3% to shift the payout ratio to a potentially unsustainable range, which is similar to the EPS decline seen over the last 5 years.お知らせ • Feb 27+ 1 more updateHarn Engineering Solutions Public Company Limited announces Annual dividend, payable on May 22, 2026Harn Engineering Solutions Public Company Limited announced Annual dividend of THB 0.1200 per share payable on May 22, 2026, ex-date on May 07, 2026 and record date on May 08, 2026.Reported Earnings • Nov 15Third quarter 2025 earnings released: EPS: ฿0.039 (vs ฿0.056 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.039 (down from ฿0.056 in 3Q 2024). Revenue: ฿307.1m (down 11% from 3Q 2024). Net income: ฿22.6m (down 31% from 3Q 2024). Profit margin: 7.4% (down from 9.5% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year and the company’s share price has also fallen by 4% per year.Reported Earnings • Aug 15Second quarter 2025 earnings released: EPS: ฿0.039 (vs ฿0.031 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.039 (up from ฿0.031 in 2Q 2024). Revenue: ฿302.6m (up 8.0% from 2Q 2024). Net income: ฿22.6m (up 25% from 2Q 2024). Profit margin: 7.5% (up from 6.5% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 2% per year.Board Change • Aug 06Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Chairman Pichet Sithi-Amnuai was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • May 17First quarter 2025 earnings released: EPS: ฿0.027 (vs ฿0.03 in 1Q 2024)First quarter 2025 results: EPS: ฿0.027 (down from ฿0.03 in 1Q 2024). Revenue: ฿309.7m (up 13% from 1Q 2024). Net income: ฿15.9m (down 8.3% from 1Q 2024). Profit margin: 5.1% (down from 6.3% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.Upcoming Dividend • Apr 25Upcoming dividend of ฿0.12 per shareEligible shareholders must have bought the stock before 02 May 2025. Payment date: 23 May 2025. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 5.5%. Lower than top quartile of Thai dividend payers (7.9%). Lower than average of industry peers (9.4%).お知らせ • Apr 24Harn Engineering Solutions Public Company Limited Approves Dividend Payment for the 2024, Payable on May 23, 2025Harn Engineering Solutions Public Company Limited at its AGM held on April 24, 2025, approved the dividend payment for the 2024 operating results at the rate of THB 0.12 per share, to be paid in cash totaling THB 70.14 million, is approximately 85.71% of the net profit according to the separated financial statements which in accordance with the dividend policy. The record date for determining the shareholders who are entitled to dividend payment was scheduled on May 6, 2025 and the dividend payment is approved to be made on May 23, 2025.Reported Earnings • Mar 01Full year 2024 earnings released: EPS: ฿0.15 (vs ฿0.20 in FY 2023)Full year 2024 results: EPS: ฿0.15 (down from ฿0.20 in FY 2023). Revenue: ฿1.27b (down 4.1% from FY 2023). Net income: ฿87.6m (down 23% from FY 2023). Profit margin: 6.9% (down from 8.6% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.お知らせ • Feb 28+ 2 more updatesHarn Engineering Solutions Public Company Limited Proposes Cash Dividend for the Period from January 1 to December 31, 2024, Payable on May 23, 2025The Board of Directors of Harn Engineering Solutions Public Company Limited at the AGM to be held on 24 April 2025, proposed cash dividend payment form the performance results from January 1 to December 31, 2024 according to the separated financial statements in cash to shareholders at the rate of THB 0.12 per share, amounting THB 70,140,000, accounted to 85.71% of net profit according to the separated financial statements. The Company sets the record date to determine the name of shareholders who are entitled to attend and vote in the AGM on March 21, 2025 and record the names of the receive the dividend (Record Date) on May 6, 2025 and set to pay the dividend on May 23, 2025.Reported Earnings • Nov 19Third quarter 2024 earnings released: EPS: ฿0.056 (vs ฿0.05 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.056 (up from ฿0.05 in 3Q 2023). Revenue: ฿345.1m (flat on 3Q 2023). Net income: ฿32.6m (up 12% from 3Q 2023). Profit margin: 9.5% (up from 8.5% in 3Q 2023). 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 4% per year, which means it is significantly lagging earnings.Reported Earnings • Aug 16Second quarter 2024 earnings released: EPS: ฿0.031 (vs ฿0.052 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.031 (down from ฿0.052 in 2Q 2023). Revenue: ฿280.3m (down 16% from 2Q 2023). Net income: ฿18.1m (down 41% from 2Q 2023). Profit margin: 6.5% (down from 9.1% in 2Q 2023). The decrease in margin was driven by lower revenue. 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 2% per year, which means it is significantly lagging earnings.Reported Earnings • May 14First quarter 2024 earnings released: EPS: ฿0.03 (vs ฿0.04 in 1Q 2023)First quarter 2024 results: EPS: ฿0.03 (down from ฿0.04 in 1Q 2023). Revenue: ฿275.3m (down 13% from 1Q 2023). Net income: ฿17.3m (down 27% from 1Q 2023). Profit margin: 6.3% (down from 7.5% in 1Q 2023). The decrease in margin was driven by lower revenue. 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 3% per year, which means it is significantly lagging earnings.お知らせ • Apr 30Harn Engineering Solutions Public Company Limited Approves Dividend Payment for the Year 2023, Payable on May 17, 2024Harn Engineering Solutions Public Company Limited announced that at the AGM was held on April 29, 2024, the company approved the dividend payment for the 2023 operating results according to the separated financial statements on May 17, 2024 at a rate of THB 0.15 per share of 584,500,000 shares, totaling payment THB 87,675,000 is approximately 76.16% of the net profit, which in accordance with the dividend policy. The record date for determining the shareholders who are entitled to dividend payment was scheduled on March 26, 2024.Upcoming Dividend • Mar 18Upcoming dividend of ฿0.15 per shareEligible shareholders must have bought the stock before 25 March 2024. Payment date: 17 May 2024. Payout ratio is on the higher end at 77%, however this is supported by cash flows. Trailing yield: 6.4%. Within top quartile of Thai dividend payers (5.8%). In line with average of industry peers (6.8%).Reported Earnings • Mar 02Full year 2023 earnings released: EPS: ฿0.20 (vs ฿0.15 in FY 2022)Full year 2023 results: EPS: ฿0.20 (up from ฿0.15 in FY 2022). Revenue: ฿1.33b (up 6.8% from FY 2022). Net income: ฿114.0m (up 28% from FY 2022). Profit margin: 8.6% (up from 7.1% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.お知らせ • Feb 29Harn Engineering Solutions Public Company Limited Proposes Dividend, Payable on May 17, 2024The Board of Directors of Harn Engineering Solutions Public Company Limited deemed it appropriate to propose that the shareholders' meeting approve the dividend payment form the performance results from January 1, 2023 to December 31, 2023 according to the separated financial statements in cash to shareholders at the rate of THB 0.15 per share, proximately THB 87,675,000, accounted to 76.16% of net profit according to the separated financial statements. The Company sets the record date to determine the name of shareholders who are entitled to attend and vote in the AGM and receive the dividend on March 26, 2024 and set to pay the dividend on May 17, 2024.The dividend payment as above will be paid from the net profit after the deduction of income tax at the rate of 20% which ordinary shareholders that are individuals may request income tax credit at a rate of 20/80 of dividend pursuant to the criteria set forth in Section 47 bis of the Revenue Code. The rights of receiving dividend payment remain uncertain as it is subject to the approval of the 2024 Annual General Meeting of Shareholders.お知らせ • Jan 16Harn Engineering Solutions Public Company Limited, Annual General Meeting, Apr 23, 2024Harn Engineering Solutions Public Company Limited, Annual General Meeting, Apr 23, 2024, at 07:00 Coordinated Universal Time. Location: HALL 31-32, 3rd floor, Harn Engineering Solutions Public Company 559 Soi Soonvijai 4, Rama 9 Road, Bangkapi, Huaykwang, Bangkok Bangkok ThailandReported Earnings • Nov 16Third quarter 2023 earnings released: EPS: ฿0.05 (vs ฿0.049 in 3Q 2022)Third quarter 2023 results: EPS: ฿0.05 (up from ฿0.049 in 3Q 2022). Revenue: ฿342.7m (up 3.2% from 3Q 2022). Net income: ฿29.2m (up 3.0% from 3Q 2022). Profit margin: 8.5% (in line with 3Q 2022). Revenue is forecast to grow 1.4% p.a. on average during the next 2 years, compared to a 2.5% growth forecast for the Trade Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 2% per year.New Risk • Aug 17New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.4% 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 1.4% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (฿1.24b market cap, or US$34.9m).Reported Earnings • Aug 17Second quarter 2023 earnings released: EPS: ฿0.052 (vs ฿0.039 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.052 (up from ฿0.039 in 2Q 2022). Revenue: ฿333.8m (up 10% from 2Q 2022). Net income: ฿30.4m (up 33% from 2Q 2022). Profit margin: 9.1% (up from 7.5% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.2% p.a. on average during the next 2 years, compared to a 1.6% growth forecast for the Trade Distributors industry in Asia. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has remained flat, which means it is well ahead of earnings.Reported Earnings • May 20First quarter 2023 earnings released: EPS: ฿0.04 (vs ฿0.028 in 1Q 2022)First quarter 2023 results: EPS: ฿0.04 (up from ฿0.028 in 1Q 2022). Revenue: ฿314.8m (up 5.9% from 1Q 2022). Net income: ฿23.6m (up 47% from 1Q 2022). Profit margin: 7.5% (up from 5.4% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.0% p.a. on average during the next 2 years, while revenues in the Trade Distributors industry in Asia are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.Board Change • May 08Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Prasert Deejongkit was the last independent director to join the board, commencing their role in 2021. 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 • Mar 03Upcoming dividend of ฿0.13 per share at 4.4% yieldEligible shareholders must have bought the stock before 10 March 2023. Payment date: 19 May 2023. Payout ratio is a comfortable 65% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Thai dividend payers (5.7%). Lower than average of industry peers (6.6%).Price Target Changed • Dec 09Price target decreased to ฿2.43Down from ฿2.66, the current price target is provided by 1 analyst. New target price is 11% above last closing price of ฿2.18. Stock is down 8.4% over the past year. The company is forecast to post earnings per share of ฿0.14 for next year compared to ฿0.12 last year.Reported Earnings • Nov 19Third quarter 2022 earnings released: EPS: ฿0.049 (vs ฿0.017 in 3Q 2021)Third quarter 2022 results: EPS: ฿0.049 (up from ฿0.017 in 3Q 2021). Revenue: ฿331.9m (up 38% from 3Q 2021). Net income: ฿28.4m (up 178% from 3Q 2021). Profit margin: 8.6% (up from 4.2% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.0% p.a. on average during the next 2 years, while revenues in the Trade Distributors industry in Asia are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.Reported Earnings • Aug 14Second quarter 2022 earnings released: EPS: ฿0.039 (vs ฿0.032 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.039 (up from ฿0.032 in 2Q 2021). Revenue: ฿303.2m (up 15% from 2Q 2021). Net income: ฿22.9m (up 23% from 2Q 2021). Profit margin: 7.5% (up from 7.1% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 8.5% compared to a 4.2% decline forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.Reported Earnings • May 19First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: ฿0.03 (down from ฿0.039 in 1Q 2021). Revenue: ฿297.2m (up 10% from 1Q 2021). Net income: ฿16.1m (down 30% from 1Q 2021). Profit margin: 5.4% (down from 8.6% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 14%. Over the next year, revenue is forecast to grow 11% while the industry in Thailand is not expected to grow. 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 1% per year, which means it has not declined as severely as earnings.Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 6 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Prasert Deejongkit was the last independent director to join the board, commencing their role in 2021. 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 • Mar 04Upcoming dividend of ฿0.10 per shareEligible shareholders must have bought the stock before 11 March 2022. Payment date: 13 May 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.4%. Within top quartile of Thai dividend payers (5.2%). Higher than average of industry peers (4.3%).Reported Earnings • Mar 03Full year 2021 earnings: EPS and revenues miss analyst expectationsFull year 2021 results: EPS: ฿0.12 (down from ฿0.17 in FY 2020). Revenue: ฿1.05b (down 11% from FY 2020). Net income: ฿72.3m (down 28% from FY 2020). Profit margin: 6.9% (down from 8.6% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 14%. Over the next year, revenue is forecast to grow 19%, compared to a 4.4% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 22% 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 • Nov 15Third quarter 2021 earnings released: EPS ฿0.017 (vs ฿0.031 in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿240.9m (down 17% from 3Q 2020). Net income: ฿10.2m (down 43% from 3Q 2020). Profit margin: 4.2% (down from 6.2% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.Reported Earnings • May 19First quarter 2021 earnings released: EPS ฿0.039 (vs ฿0.06 in 1Q 2020)The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿269.3m (down 13% from 1Q 2020). Net income: ฿23.1m (down 34% from 1Q 2020). Profit margin: 8.6% (down from 11% in 1Q 2020). The decrease in margin was driven by lower revenue. 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.Valuation Update With 7 Day Price Move • May 06Investor sentiment improved over the past weekAfter last week's 22% share price gain to ฿2.86, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 10x in the Trade Distributors industry in Asia. Total returns to shareholders of 22% over the past three years.Executive Departure • May 03Independent Director has left the companyOn the 23rd of April, Sothitorn Mallikamas' tenure as Independent Director ended after 8.6 years in the role. We don't have any record of a personal shareholding under Sothitorn's name. Sothitorn is the only executive to leave the company over the last 12 months.Analyst Estimate Surprise Post Earnings • Mar 02Revenue beats expectations, earnings disappointRevenue exceeded analyst estimates by 0.1%. Earnings per share (EPS) missed analyst estimates by 15%. Over the next year, revenue is forecast to grow 17%, compared to a 14% growth forecast for the Trade Distributors industry in Thailand.Reported Earnings • Mar 02Full year 2020 earnings released: EPS ฿0.17 (vs ฿0.26 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿1.17b (down 16% from FY 2019). Net income: ฿101.0m (down 33% from FY 2019). Profit margin: 8.6% (down from 11% in FY 2019). The decrease in margin was driven by lower 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.Is New 90 Day High Low • Feb 24New 90-day high: ฿2.32The company is up 8.0% from its price of ฿2.14 on 26 November 2020. The Thai market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Trade Distributors industry, which is up 19% over the same period.Is New 90 Day High Low • Jan 12New 90-day high: ฿2.30The company is up 10.0% from its price of ฿2.10 on 14 October 2020. The Thai market is up 21% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Trade Distributors industry, which is up 9.0% over the same period.Is New 90 Day High Low • Dec 25New 90-day high: ฿2.18The company is up 4.0% from its price of ฿2.10 on 25 September 2020. The Thai market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 8.0% over the same period.Reported Earnings • Nov 17Third quarter 2020 earnings released: EPS ฿0.031The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿290.7m (down 12% from 3Q 2019). Net income: ฿17.9m (down 51% from 3Q 2019). Profit margin: 6.2% (down from 11% 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 5% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.Is New 90 Day High Low • Oct 12New 90-day low: ฿2.08The company is down 1.0% from its price of ฿2.10 on 14 July 2020. The Thai market is down 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Trade Distributors industry, which is up 14% over the same period.収支内訳Harn Engineering Solutions の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史SET:HARN 収益、費用、利益 ( )THB Millions日付収益収益G+A経費研究開発費31 Mar 261,245101265031 Dec 251,21184265030 Sep 251,28681263030 Jun 251,32591256031 Mar 251,30686253031 Dec 241,27388246030 Sep 241,23699255030 Jun 241,23395260031 Mar 241,288108268031 Dec 231,326114273030 Sep 231,301105264030 Jun 231,291104261031 Mar 231,26096258031 Dec 221,24289255030 Sep 221,20689246030 Jun 221,11571244031 Mar 221,07466243031 Dec 211,04672240030 Sep 211,04669245030 Jun 211,09577245031 Mar 211,12986245031 Dec 201,17198248030 Sep 201,272125252030 Jun 201,311143252031 Mar 201,365152259031 Dec 191,393150258030 Sep 191,354140259030 Jun 191,373140257031 Mar 191,380138259031 Dec 181,356134257030 Sep 181,345138263030 Jun 181,345135262031 Mar 181,318132249031 Dec 171,301130242030 Sep 171,167103213030 Jun 1799982183031 Mar 1779453155031 Dec 1666341124030 Sep 1661840106030 Jun 1658936103031 Mar 1660949101031 Dec 1556846101030 Sep 1557549102030 Jun 1557356970質の高い収益: HARNは 高品質の収益 を持っています。利益率の向上: HARNの現在の純利益率 (8.1%)は、昨年(6.6%)よりも高くなっています。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: HARNの収益は過去 5 年間で年間4.3%増加しました。成長の加速: HARNの過去 1 年間の収益成長率 ( 17.4% ) は、5 年間の平均 ( 年間4.3%を上回っています。収益対業界: HARNの過去 1 年間の収益成長率 ( 17.4% ) はTrade Distributors業界-8.8%を上回りました。株主資本利益率高いROE: HARNの 自己資本利益率 ( 7% ) は 低い とみなされます。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YCapital-goods 、過去の業績が好調な企業。View Financial Health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2026/05/22 21:26終値2026/05/22 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Harn Engineering Solutions 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Wilasinee BoonmasungsongGloblex Securities Co. Ltd.
Reported Earnings • May 21First quarter 2026 earnings released: EPS: ฿0.057 (vs ฿0.027 in 1Q 2025)First quarter 2026 results: EPS: ฿0.057 (up from ฿0.027 in 1Q 2025). Revenue: ฿343.5m (up 11% from 1Q 2025). Net income: ฿33.1m (up 108% from 1Q 2025). Profit margin: 9.6% (up from 5.1% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 3% per year.
Reported Earnings • Nov 15Third quarter 2025 earnings released: EPS: ฿0.039 (vs ฿0.056 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.039 (down from ฿0.056 in 3Q 2024). Revenue: ฿307.1m (down 11% from 3Q 2024). Net income: ฿22.6m (down 31% from 3Q 2024). Profit margin: 7.4% (down from 9.5% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year and the company’s share price has also fallen by 4% per year.
Reported Earnings • Aug 15Second quarter 2025 earnings released: EPS: ฿0.039 (vs ฿0.031 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.039 (up from ฿0.031 in 2Q 2024). Revenue: ฿302.6m (up 8.0% from 2Q 2024). Net income: ฿22.6m (up 25% from 2Q 2024). Profit margin: 7.5% (up from 6.5% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 2% per year.
Reported Earnings • May 17First quarter 2025 earnings released: EPS: ฿0.027 (vs ฿0.03 in 1Q 2024)First quarter 2025 results: EPS: ฿0.027 (down from ฿0.03 in 1Q 2024). Revenue: ฿309.7m (up 13% from 1Q 2024). Net income: ฿15.9m (down 8.3% from 1Q 2024). Profit margin: 5.1% (down from 6.3% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.
Reported Earnings • Mar 01Full year 2024 earnings released: EPS: ฿0.15 (vs ฿0.20 in FY 2023)Full year 2024 results: EPS: ฿0.15 (down from ฿0.20 in FY 2023). Revenue: ฿1.27b (down 4.1% from FY 2023). Net income: ฿87.6m (down 23% from FY 2023). Profit margin: 6.9% (down from 8.6% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.
Reported Earnings • Nov 19Third quarter 2024 earnings released: EPS: ฿0.056 (vs ฿0.05 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.056 (up from ฿0.05 in 3Q 2023). Revenue: ฿345.1m (flat on 3Q 2023). Net income: ฿32.6m (up 12% from 3Q 2023). Profit margin: 9.5% (up from 8.5% in 3Q 2023). 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 4% per year, which means it is significantly lagging earnings.
Reported Earnings • May 21First quarter 2026 earnings released: EPS: ฿0.057 (vs ฿0.027 in 1Q 2025)First quarter 2026 results: EPS: ฿0.057 (up from ฿0.027 in 1Q 2025). Revenue: ฿343.5m (up 11% from 1Q 2025). Net income: ฿33.1m (up 108% from 1Q 2025). Profit margin: 9.6% (up from 5.1% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 3% per year.
Upcoming Dividend • Apr 30Upcoming dividend of ฿0.12 per shareEligible shareholders must have bought the stock before 07 May 2026. Payment date: 22 May 2026. Payout ratio is on the higher end at 84%, however this is supported by cash flows. Trailing yield: 5.9%. Lower than top quartile of Thai dividend payers (7.5%). In line with average of industry peers (6.3%).
Declared Dividend • Mar 02Dividend of ฿0.12 announcedDividend of ฿0.12 is the same as last year. Ex-date: 7th May 2026 Payment date: 22nd May 2026 Dividend yield will be 5.9%, which is lower than the industry average of 7.1%. Sustainability & Growth Dividend is covered by both earnings (87% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 1.8% 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 3.3% to shift the payout ratio to a potentially unsustainable range, which is similar to the EPS decline seen over the last 5 years.
お知らせ • Feb 27+ 1 more updateHarn Engineering Solutions Public Company Limited announces Annual dividend, payable on May 22, 2026Harn Engineering Solutions Public Company Limited announced Annual dividend of THB 0.1200 per share payable on May 22, 2026, ex-date on May 07, 2026 and record date on May 08, 2026.
Reported Earnings • Nov 15Third quarter 2025 earnings released: EPS: ฿0.039 (vs ฿0.056 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.039 (down from ฿0.056 in 3Q 2024). Revenue: ฿307.1m (down 11% from 3Q 2024). Net income: ฿22.6m (down 31% from 3Q 2024). Profit margin: 7.4% (down from 9.5% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year and the company’s share price has also fallen by 4% per year.
Reported Earnings • Aug 15Second quarter 2025 earnings released: EPS: ฿0.039 (vs ฿0.031 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.039 (up from ฿0.031 in 2Q 2024). Revenue: ฿302.6m (up 8.0% from 2Q 2024). Net income: ฿22.6m (up 25% from 2Q 2024). Profit margin: 7.5% (up from 6.5% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 2% per year.
Board Change • Aug 06Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Chairman Pichet Sithi-Amnuai was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • May 17First quarter 2025 earnings released: EPS: ฿0.027 (vs ฿0.03 in 1Q 2024)First quarter 2025 results: EPS: ฿0.027 (down from ฿0.03 in 1Q 2024). Revenue: ฿309.7m (up 13% from 1Q 2024). Net income: ฿15.9m (down 8.3% from 1Q 2024). Profit margin: 5.1% (down from 6.3% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Apr 25Upcoming dividend of ฿0.12 per shareEligible shareholders must have bought the stock before 02 May 2025. Payment date: 23 May 2025. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 5.5%. Lower than top quartile of Thai dividend payers (7.9%). Lower than average of industry peers (9.4%).
お知らせ • Apr 24Harn Engineering Solutions Public Company Limited Approves Dividend Payment for the 2024, Payable on May 23, 2025Harn Engineering Solutions Public Company Limited at its AGM held on April 24, 2025, approved the dividend payment for the 2024 operating results at the rate of THB 0.12 per share, to be paid in cash totaling THB 70.14 million, is approximately 85.71% of the net profit according to the separated financial statements which in accordance with the dividend policy. The record date for determining the shareholders who are entitled to dividend payment was scheduled on May 6, 2025 and the dividend payment is approved to be made on May 23, 2025.
Reported Earnings • Mar 01Full year 2024 earnings released: EPS: ฿0.15 (vs ฿0.20 in FY 2023)Full year 2024 results: EPS: ฿0.15 (down from ฿0.20 in FY 2023). Revenue: ฿1.27b (down 4.1% from FY 2023). Net income: ฿87.6m (down 23% from FY 2023). Profit margin: 6.9% (down from 8.6% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.
お知らせ • Feb 28+ 2 more updatesHarn Engineering Solutions Public Company Limited Proposes Cash Dividend for the Period from January 1 to December 31, 2024, Payable on May 23, 2025The Board of Directors of Harn Engineering Solutions Public Company Limited at the AGM to be held on 24 April 2025, proposed cash dividend payment form the performance results from January 1 to December 31, 2024 according to the separated financial statements in cash to shareholders at the rate of THB 0.12 per share, amounting THB 70,140,000, accounted to 85.71% of net profit according to the separated financial statements. The Company sets the record date to determine the name of shareholders who are entitled to attend and vote in the AGM on March 21, 2025 and record the names of the receive the dividend (Record Date) on May 6, 2025 and set to pay the dividend on May 23, 2025.
Reported Earnings • Nov 19Third quarter 2024 earnings released: EPS: ฿0.056 (vs ฿0.05 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.056 (up from ฿0.05 in 3Q 2023). Revenue: ฿345.1m (flat on 3Q 2023). Net income: ฿32.6m (up 12% from 3Q 2023). Profit margin: 9.5% (up from 8.5% in 3Q 2023). 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 4% per year, which means it is significantly lagging earnings.
Reported Earnings • Aug 16Second quarter 2024 earnings released: EPS: ฿0.031 (vs ฿0.052 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.031 (down from ฿0.052 in 2Q 2023). Revenue: ฿280.3m (down 16% from 2Q 2023). Net income: ฿18.1m (down 41% from 2Q 2023). Profit margin: 6.5% (down from 9.1% in 2Q 2023). The decrease in margin was driven by lower revenue. 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 2% per year, which means it is significantly lagging earnings.
Reported Earnings • May 14First quarter 2024 earnings released: EPS: ฿0.03 (vs ฿0.04 in 1Q 2023)First quarter 2024 results: EPS: ฿0.03 (down from ฿0.04 in 1Q 2023). Revenue: ฿275.3m (down 13% from 1Q 2023). Net income: ฿17.3m (down 27% from 1Q 2023). Profit margin: 6.3% (down from 7.5% in 1Q 2023). The decrease in margin was driven by lower revenue. 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 3% per year, which means it is significantly lagging earnings.
お知らせ • Apr 30Harn Engineering Solutions Public Company Limited Approves Dividend Payment for the Year 2023, Payable on May 17, 2024Harn Engineering Solutions Public Company Limited announced that at the AGM was held on April 29, 2024, the company approved the dividend payment for the 2023 operating results according to the separated financial statements on May 17, 2024 at a rate of THB 0.15 per share of 584,500,000 shares, totaling payment THB 87,675,000 is approximately 76.16% of the net profit, which in accordance with the dividend policy. The record date for determining the shareholders who are entitled to dividend payment was scheduled on March 26, 2024.
Upcoming Dividend • Mar 18Upcoming dividend of ฿0.15 per shareEligible shareholders must have bought the stock before 25 March 2024. Payment date: 17 May 2024. Payout ratio is on the higher end at 77%, however this is supported by cash flows. Trailing yield: 6.4%. Within top quartile of Thai dividend payers (5.8%). In line with average of industry peers (6.8%).
Reported Earnings • Mar 02Full year 2023 earnings released: EPS: ฿0.20 (vs ฿0.15 in FY 2022)Full year 2023 results: EPS: ฿0.20 (up from ฿0.15 in FY 2022). Revenue: ฿1.33b (up 6.8% from FY 2022). Net income: ฿114.0m (up 28% from FY 2022). Profit margin: 8.6% (up from 7.1% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.
お知らせ • Feb 29Harn Engineering Solutions Public Company Limited Proposes Dividend, Payable on May 17, 2024The Board of Directors of Harn Engineering Solutions Public Company Limited deemed it appropriate to propose that the shareholders' meeting approve the dividend payment form the performance results from January 1, 2023 to December 31, 2023 according to the separated financial statements in cash to shareholders at the rate of THB 0.15 per share, proximately THB 87,675,000, accounted to 76.16% of net profit according to the separated financial statements. The Company sets the record date to determine the name of shareholders who are entitled to attend and vote in the AGM and receive the dividend on March 26, 2024 and set to pay the dividend on May 17, 2024.The dividend payment as above will be paid from the net profit after the deduction of income tax at the rate of 20% which ordinary shareholders that are individuals may request income tax credit at a rate of 20/80 of dividend pursuant to the criteria set forth in Section 47 bis of the Revenue Code. The rights of receiving dividend payment remain uncertain as it is subject to the approval of the 2024 Annual General Meeting of Shareholders.
お知らせ • Jan 16Harn Engineering Solutions Public Company Limited, Annual General Meeting, Apr 23, 2024Harn Engineering Solutions Public Company Limited, Annual General Meeting, Apr 23, 2024, at 07:00 Coordinated Universal Time. Location: HALL 31-32, 3rd floor, Harn Engineering Solutions Public Company 559 Soi Soonvijai 4, Rama 9 Road, Bangkapi, Huaykwang, Bangkok Bangkok Thailand
Reported Earnings • Nov 16Third quarter 2023 earnings released: EPS: ฿0.05 (vs ฿0.049 in 3Q 2022)Third quarter 2023 results: EPS: ฿0.05 (up from ฿0.049 in 3Q 2022). Revenue: ฿342.7m (up 3.2% from 3Q 2022). Net income: ฿29.2m (up 3.0% from 3Q 2022). Profit margin: 8.5% (in line with 3Q 2022). Revenue is forecast to grow 1.4% p.a. on average during the next 2 years, compared to a 2.5% growth forecast for the Trade Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 2% per year.
New Risk • Aug 17New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.4% 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 1.4% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (฿1.24b market cap, or US$34.9m).
Reported Earnings • Aug 17Second quarter 2023 earnings released: EPS: ฿0.052 (vs ฿0.039 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.052 (up from ฿0.039 in 2Q 2022). Revenue: ฿333.8m (up 10% from 2Q 2022). Net income: ฿30.4m (up 33% from 2Q 2022). Profit margin: 9.1% (up from 7.5% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.2% p.a. on average during the next 2 years, compared to a 1.6% growth forecast for the Trade Distributors industry in Asia. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
Reported Earnings • May 20First quarter 2023 earnings released: EPS: ฿0.04 (vs ฿0.028 in 1Q 2022)First quarter 2023 results: EPS: ฿0.04 (up from ฿0.028 in 1Q 2022). Revenue: ฿314.8m (up 5.9% from 1Q 2022). Net income: ฿23.6m (up 47% from 1Q 2022). Profit margin: 7.5% (up from 5.4% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.0% p.a. on average during the next 2 years, while revenues in the Trade Distributors industry in Asia are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.
Board Change • May 08Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Prasert Deejongkit was the last independent director to join the board, commencing their role in 2021. 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 • Mar 03Upcoming dividend of ฿0.13 per share at 4.4% yieldEligible shareholders must have bought the stock before 10 March 2023. Payment date: 19 May 2023. Payout ratio is a comfortable 65% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Thai dividend payers (5.7%). Lower than average of industry peers (6.6%).
Price Target Changed • Dec 09Price target decreased to ฿2.43Down from ฿2.66, the current price target is provided by 1 analyst. New target price is 11% above last closing price of ฿2.18. Stock is down 8.4% over the past year. The company is forecast to post earnings per share of ฿0.14 for next year compared to ฿0.12 last year.
Reported Earnings • Nov 19Third quarter 2022 earnings released: EPS: ฿0.049 (vs ฿0.017 in 3Q 2021)Third quarter 2022 results: EPS: ฿0.049 (up from ฿0.017 in 3Q 2021). Revenue: ฿331.9m (up 38% from 3Q 2021). Net income: ฿28.4m (up 178% from 3Q 2021). Profit margin: 8.6% (up from 4.2% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.0% p.a. on average during the next 2 years, while revenues in the Trade Distributors industry in Asia are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.
Reported Earnings • Aug 14Second quarter 2022 earnings released: EPS: ฿0.039 (vs ฿0.032 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.039 (up from ฿0.032 in 2Q 2021). Revenue: ฿303.2m (up 15% from 2Q 2021). Net income: ฿22.9m (up 23% from 2Q 2021). Profit margin: 7.5% (up from 7.1% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 8.5% compared to a 4.2% decline forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.
Reported Earnings • May 19First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: ฿0.03 (down from ฿0.039 in 1Q 2021). Revenue: ฿297.2m (up 10% from 1Q 2021). Net income: ฿16.1m (down 30% from 1Q 2021). Profit margin: 5.4% (down from 8.6% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 14%. Over the next year, revenue is forecast to grow 11% while the industry in Thailand is not expected to grow. 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 1% per year, which means it has not declined as severely as earnings.
Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 6 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Prasert Deejongkit was the last independent director to join the board, commencing their role in 2021. 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 • Mar 04Upcoming dividend of ฿0.10 per shareEligible shareholders must have bought the stock before 11 March 2022. Payment date: 13 May 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.4%. Within top quartile of Thai dividend payers (5.2%). Higher than average of industry peers (4.3%).
Reported Earnings • Mar 03Full year 2021 earnings: EPS and revenues miss analyst expectationsFull year 2021 results: EPS: ฿0.12 (down from ฿0.17 in FY 2020). Revenue: ฿1.05b (down 11% from FY 2020). Net income: ฿72.3m (down 28% from FY 2020). Profit margin: 6.9% (down from 8.6% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 14%. Over the next year, revenue is forecast to grow 19%, compared to a 4.4% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 22% 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 • Nov 15Third quarter 2021 earnings released: EPS ฿0.017 (vs ฿0.031 in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿240.9m (down 17% from 3Q 2020). Net income: ฿10.2m (down 43% from 3Q 2020). Profit margin: 4.2% (down from 6.2% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.
Reported Earnings • May 19First quarter 2021 earnings released: EPS ฿0.039 (vs ฿0.06 in 1Q 2020)The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿269.3m (down 13% from 1Q 2020). Net income: ฿23.1m (down 34% from 1Q 2020). Profit margin: 8.6% (down from 11% in 1Q 2020). The decrease in margin was driven by lower revenue. 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.
Valuation Update With 7 Day Price Move • May 06Investor sentiment improved over the past weekAfter last week's 22% share price gain to ฿2.86, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 10x in the Trade Distributors industry in Asia. Total returns to shareholders of 22% over the past three years.
Executive Departure • May 03Independent Director has left the companyOn the 23rd of April, Sothitorn Mallikamas' tenure as Independent Director ended after 8.6 years in the role. We don't have any record of a personal shareholding under Sothitorn's name. Sothitorn is the only executive to leave the company over the last 12 months.
Analyst Estimate Surprise Post Earnings • Mar 02Revenue beats expectations, earnings disappointRevenue exceeded analyst estimates by 0.1%. Earnings per share (EPS) missed analyst estimates by 15%. Over the next year, revenue is forecast to grow 17%, compared to a 14% growth forecast for the Trade Distributors industry in Thailand.
Reported Earnings • Mar 02Full year 2020 earnings released: EPS ฿0.17 (vs ฿0.26 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿1.17b (down 16% from FY 2019). Net income: ฿101.0m (down 33% from FY 2019). Profit margin: 8.6% (down from 11% in FY 2019). The decrease in margin was driven by lower 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.
Is New 90 Day High Low • Feb 24New 90-day high: ฿2.32The company is up 8.0% from its price of ฿2.14 on 26 November 2020. The Thai market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Trade Distributors industry, which is up 19% over the same period.
Is New 90 Day High Low • Jan 12New 90-day high: ฿2.30The company is up 10.0% from its price of ฿2.10 on 14 October 2020. The Thai market is up 21% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Trade Distributors industry, which is up 9.0% over the same period.
Is New 90 Day High Low • Dec 25New 90-day high: ฿2.18The company is up 4.0% from its price of ฿2.10 on 25 September 2020. The Thai market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 8.0% over the same period.
Reported Earnings • Nov 17Third quarter 2020 earnings released: EPS ฿0.031The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿290.7m (down 12% from 3Q 2019). Net income: ฿17.9m (down 51% from 3Q 2019). Profit margin: 6.2% (down from 11% 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 5% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.
Is New 90 Day High Low • Oct 12New 90-day low: ฿2.08The company is down 1.0% from its price of ฿2.10 on 14 July 2020. The Thai market is down 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Trade Distributors industry, which is up 14% over the same period.