Index International Group（IND）株式概要インデックス・インターナショナル・グループ社は、タイでエンジニアリング・コンサルタント業を営んでいる。 詳細IND ファンダメンタル分析スノーフレーク・スコア評価1/6将来の成長0/6過去の実績1/6財務の健全性4/6配当金3/6報酬株価収益率（ 5.8 x） TH市場（ 11.9 x）を下回っています。リスク分析高いレベルの非現金収入 利益率(5.5%)は昨年より低い(8.4%) 意味のある時価総額がありません ( THB350M )TH市場と比較した過去 3 か月間の株価の変動+1 さらなるリスクすべてのリスクチェックを見るIND Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.NEW482,882 membersJoin community and earn perksGain real feedbackFrom our editorial team, personally. Not silence.Grow your followingReal investors. The kind who actually invest, not scroll past.Unlock free accessFree premium subscription for consistent and quality authors.Learn moreCreate NarrativeBLINROAG482,882 investors already sharing narrativesYour Fair Value฿Current Price฿1.0027.5% 割安 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture03b2016201920222025202620282031Revenue ฿2.5bEarnings ฿138.3mAdvancedSet Fair ValueView all narrativesIndex International Group Public Company Limited 競合他社Well Graded EngineeringSymbol: SET:WGEMarket cap: ฿438.0mRight TunnellingSymbol: SET:RTMarket cap: ฿428.4mFloydSymbol: SET:FLOYDMarket cap: ฿475.6mChiangmai RimdoiSymbol: SET:CRDMarket cap: ฿290.0m価格と性能株価の高値、安値、推移の概要Index International Group過去の株価現在の株価฿1.0052週高値฿1.5952週安値฿0.80ベータ-0.0781ヶ月の変化21.95%3ヶ月変化-14.53%1年変化13.64%3年間の変化-19.35%5年間の変化-44.75%IPOからの変化-66.44%最新ニュースNew Risk • Jun 25New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (46% accrual ratio). Market cap is less than US$10m (฿301.0m market cap, or US$9.02m). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.4% average weekly change). Profit margins are more than 30% lower than last year (5.5% net profit margin).New Risk • May 22New major risk - Market cap sizeThe company's market capitalization is less than US$10m. Market cap: ฿325.5m (US$9.96m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (฿325.5m market cap, or US$9.96m). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (5.5% net profit margin).New Risk • May 18New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.5% Last year net profit margin: 8.4% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (5.5% net profit margin). Market cap is less than US$100m (฿329.0m market cap, or US$10.1m).Upcoming Dividend • Apr 28Upcoming dividend of ฿0.073 per shareEligible shareholders must have bought the stock before 05 May 2026. Payment date: 20 May 2026. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 6.4%. Lower than top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (4.2%).お知らせ • Apr 23Index International Group Public Company Limited Appoints Sangchai Theerakulwanich as New DirectorIndex International Group Public Company Limited at its Annual General Meeting of Shareholders for 2026 held on April 22nd, 2026, approved the appointment of Mr. Sangchai Theerakulwanich as a new director to replace the director who retired by rotation.Buy Or Sell Opportunity • Mar 06Now 24% overvaluedOver the last 90 days, the stock has fallen 3.4% to ฿1.15. The fair value is estimated to be ฿0.93, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 65%.最新情報をもっと見るRecent updatesNew Risk • Jun 25New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (46% accrual ratio). Market cap is less than US$10m (฿301.0m market cap, or US$9.02m). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.4% average weekly change). Profit margins are more than 30% lower than last year (5.5% net profit margin).New Risk • May 22New major risk - Market cap sizeThe company's market capitalization is less than US$10m. Market cap: ฿325.5m (US$9.96m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (฿325.5m market cap, or US$9.96m). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (5.5% net profit margin).New Risk • May 18New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.5% Last year net profit margin: 8.4% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (5.5% net profit margin). Market cap is less than US$100m (฿329.0m market cap, or US$10.1m).Upcoming Dividend • Apr 28Upcoming dividend of ฿0.073 per shareEligible shareholders must have bought the stock before 05 May 2026. Payment date: 20 May 2026. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 6.4%. Lower than top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (4.2%).お知らせ • Apr 23Index International Group Public Company Limited Appoints Sangchai Theerakulwanich as New DirectorIndex International Group Public Company Limited at its Annual General Meeting of Shareholders for 2026 held on April 22nd, 2026, approved the appointment of Mr. Sangchai Theerakulwanich as a new director to replace the director who retired by rotation.Buy Or Sell Opportunity • Mar 06Now 24% overvaluedOver the last 90 days, the stock has fallen 3.4% to ฿1.15. The fair value is estimated to be ฿0.93, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 65%.Reported Earnings • Feb 16Full year 2025 earnings released: EPS: ฿0.21 (vs ฿0.17 in FY 2024)Full year 2025 results: EPS: ฿0.21 (up from ฿0.17 in FY 2024). Revenue: ฿1.10b (up 39% from FY 2024). Net income: ฿75.0m (up 30% from FY 2024). Profit margin: 6.8% (down from 7.3% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.Declared Dividend • Feb 14Dividend increased to ฿0.073Dividend of ฿0.073 is 10% higher than last year. Ex-date: 5th May 2026 Payment date: 20th May 2026 Dividend yield will be 6.2%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (22% earnings payout ratio) but not covered by cash flows (dividend approximately 13x free cash flows). The dividend has increased by an average of 110% per year over the past 2 years and payments have been stable during that time. Earnings per share has grown by 37% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.お知らせ • Feb 13+ 1 more updateIndex International Group Public Company Limited Announces Replacement of Prasert Tapaneeyangkul as Independent DirectorIndex International Group Public Company Limited announced the replacement of Mr. Prasert Tapaneeyangkul as Independent Director.Valuation Update With 7 Day Price Move • Feb 13Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ฿1.17, the stock trades at a trailing P/E ratio of 3.9x. Average trailing P/E is 13x in the Construction industry in Thailand. Total loss to shareholders of 29% over the past three years.お知らせ • Feb 13Index International Group Public Company Limited, Annual General Meeting, Apr 22, 2026Index International Group Public Company Limited, Annual General Meeting, Apr 22, 2026, at 13:00 SE Asia Standard Time.Valuation Update With 7 Day Price Move • Dec 26Investor sentiment improves as stock rises 28%After last week's 28% share price gain to ฿1.45, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 12x in the Construction industry in Thailand. Total loss to shareholders of 3.4% over the past three years.Valuation Update With 7 Day Price Move • Dec 03Investor sentiment improves as stock rises 15%After last week's 15% share price gain to ฿1.21, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 12x in the Construction industry in Thailand. Total loss to shareholders of 5.0% over the past three years.Reported Earnings • Nov 15Third quarter 2025 earnings released: EPS: ฿0.07 (vs ฿0.047 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.07 (up from ฿0.047 in 3Q 2024). Revenue: ฿279.1m (up 28% from 3Q 2024). Net income: ฿24.0m (up 47% from 3Q 2024). Profit margin: 8.6% (up from 7.5% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.New Risk • Sep 25New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (47% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.1% average weekly change). Market cap is less than US$100m (฿409.5m market cap, or US$12.7m).Reported Earnings • Aug 14Second quarter 2025 earnings released: EPS: ฿0.09 (vs ฿0.018 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.09 (up from ฿0.018 in 2Q 2024). Revenue: ฿340.3m (up 136% from 2Q 2024). Net income: ฿31.6m (up 404% from 2Q 2024). Profit margin: 9.3% (up from 4.3% 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 36% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.Valuation Update With 7 Day Price Move • Aug 08Investor sentiment improves as stock rises 23%After last week's 23% share price gain to ฿1.08, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 15x in the Construction industry in Thailand. Total loss to shareholders of 41% over the past three years.Board Change • May 16Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Chonthit Darawong was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • May 09First quarter 2025 earnings released: EPS: ฿60.00 (vs ฿0.022 in 1Q 2024)First quarter 2025 results: EPS: ฿60.00 (up from ฿0.022 in 1Q 2024). Revenue: ฿227.3m (up 29% from 1Q 2024). Net income: ฿20.8m (up 165% from 1Q 2024). Profit margin: 9.1% (up from 4.5% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings.Upcoming Dividend • Apr 25Upcoming dividend of ฿0.066 per shareEligible shareholders must have bought the stock before 02 May 2025. Payment date: 20 May 2025. Payout ratio is a comfortable 40% and the cash payout ratio is 96%. Trailing yield: 7.6%. Lower than top quartile of Thai dividend payers (7.9%). Higher than average of industry peers (2.9%).お知らせ • Apr 24+ 1 more updateIndex International Group Public Company Limited Resolves to Approve Dividend for the Year 2024, Payable on 20 May 2025Index International Group Public Company Limited at its AGM held on 23 April 2025 resolved to approve the allocation of the annual net profit as legal reserve fund of THB 2,894,990 and dividend payment from net profit of the year 2024 to the shareholders in the ratio of THB 0.0662 per share. Total of dividend payment is not exceed THB 23,170,000. The dividend Payout Ratio equivalent to 40% of net profit after legal reserve for the year 2024. The record date for the rights to receive the dividend will be on 6th May 2025. The cash dividend shall be paid on 20th May 2025.Buy Or Sell Opportunity • Mar 12Now 22% undervaluedOver the last 90 days, the stock has risen 4.9% to ฿0.86. The fair value is estimated to be ฿1.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 11%.Declared Dividend • Feb 20Dividend of ฿0.066 announcedShareholders will receive a dividend of ฿0.066. Ex-date: 2nd May 2025 Payment date: 20th May 2025 Dividend yield will be 7.8%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but not adequately covered by cash flows (96% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. The company's earnings per share (EPS) would need to decline by 56% to shift the payout ratio to a potentially unsustainable range, which is more than the 12% EPS decline seen over the last 5 years.Reported Earnings • Feb 19Full year 2024 earnings released: EPS: ฿0.17 (vs ฿0.038 in FY 2023)Full year 2024 results: EPS: ฿0.17 (up from ฿0.038 in FY 2023). Revenue: ฿795.7m (up 4.6% from FY 2023). Net income: ฿57.9m (up 333% from FY 2023). Profit margin: 7.3% (up from 1.8% in FY 2023). The increase in margin was primarily 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 fallen by 23% per year, which means it is significantly lagging earnings.New Risk • Feb 18New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (฿287.0m market cap, or US$8.52m). Minor Risk Share price has been volatile over the past 3 months (7.3% average weekly change).お知らせ • Feb 18+ 1 more updateIndex International Group Public Company Limited Proposes Cash Dividend for the Year 2024, Payable on May 20, 2025Index International Group Public Company Limited proposed cash dividend payment to the shareholders in the ratio of THB 0.0662 per share. Total of dividend payment is not exceeding THB 23,170,000 from net profit of the year 2024. The dividend Payout Ratio equivalent to 40 % of net profit after legal reserve for the year 2024 The record date for the rights to receive the dividend will be on 6th May 2025. The cash dividend shall be paid on 20th May 2025.Reported Earnings • Nov 14Third quarter 2024 earnings released: EPS: ฿0.05 (vs ฿0.03 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.05 (up from ฿0.03 in 3Q 2023). Revenue: ฿217.9m (up 24% from 3Q 2023). Net income: ฿16.4m (up 57% from 3Q 2023). Profit margin: 7.5% (up from 5.9% in 3Q 2023). The increase in margin was driven by higher revenue. 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 24% per year, which means it is significantly lagging earnings.Reported Earnings • Aug 14Second quarter 2024 earnings released: EPS: ฿0.02 (vs ฿0.10 loss in 2Q 2023)Second quarter 2024 results: EPS: ฿0.02 (up from ฿0.10 loss in 2Q 2023). Revenue: ฿144.3m (down 15% from 2Q 2023). Net income: ฿6.27m (up ฿42.3m from 2Q 2023). Profit margin: 4.3% (up from net loss in 2Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings.Reported Earnings • May 15First quarter 2024 earnings released: EPS: ฿0.02 (vs ฿0.036 in 1Q 2023)First quarter 2024 results: EPS: ฿0.02 (down from ฿0.036 in 1Q 2023). Revenue: ฿176.3m (up 3.8% from 1Q 2023). Net income: ฿7.86m (down 37% from 1Q 2023). Profit margin: 4.5% (down from 7.3% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings.お知らせ • Apr 27Index International Group Public Company Limited Approves Dividend Payment for the Year 2023, Payable on 21 May 2024Index International Group Public Company Limited at its AGM held on April 25, 2024, approved the dividend payment from net profit of the year 2023 to the shareholders in the ratio of THB 0.015 per share. Total of dividend payment is not exceed THB 5,250,000. The dividend Payout Ratio equivalent to 40 % of net profit after legal reserve for the year 2023. The record date for the rights to receive the dividend will be on 7 May 2024. The cash dividend shall be paid on 21 May 2024.お知らせ • Mar 22Index International Group Public Company Limited Announces the Change of Chief AccountantIndex International Group Public Company Limited announced the change of Chief Accountant. The company announced the termination of Miss Wiyada Ngamsom as Accounting Manager. Effective Date of Termination; April 1, 2024. The company announced the appointment of Miss Sudaporn Rachinta as Accounting Manager. Effective Date of Termination; April 1, 2024.Reported Earnings • Feb 24Full year 2023 earnings released: EPS: ฿0.038 (vs ฿0.093 in FY 2022)Full year 2023 results: EPS: ฿0.038 (down from ฿0.093 in FY 2022). Revenue: ฿760.5m (up 24% from FY 2022). Net income: ฿13.4m (down 59% from FY 2022). Profit margin: 1.8% (down from 5.3% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings.お知らせ • Feb 23+ 1 more updateIndex International Group Public Company Proposes Dividend for the Year Ended December 31, 2023, Payable on May 21, 2024Index International Group Public Company Limited at its board of meeting held on February 22, 2024, approved to propose the 2024 AGM, cash dividend payment to the shareholders in the ratio of THB 0.015 per share. Total of dividend payment is not exceed THB 5,250,000 from net profit of the year 2023. The dividend Payout Ratio equivalent to 40 % of net profit after legal reserve for the year 2023. The record date for the rights to receive the dividend will be on May 7, 2024. The cash dividend shall be paid on May 21, 2024.Reported Earnings • Nov 11Third quarter 2023 earnings released: EPS: ฿0.03 (vs ฿0.011 in 3Q 2022)Third quarter 2023 results: EPS: ฿0.03 (up from ฿0.011 in 3Q 2022). Revenue: ฿175.2m (up 35% from 3Q 2022). Net income: ฿10.4m (up 164% from 3Q 2022). Profit margin: 5.9% (up from 3.0% in 3Q 2022). The increase in margin was driven by higher revenue.New Risk • Aug 16New major risk - Market cap sizeThe company's market capitalization is less than US$10m. Market cap: ฿336.0m (US$9.47m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 11% per year over the past 5 years. Market cap is less than US$10m (฿336.0m market cap, or US$9.47m). Minor Risk Share price has been volatile over the past 3 months (6.9% average weekly change).New Risk • Aug 11New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 11% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (฿364.0m market cap, or US$10.4m).Reported Earnings • Aug 11Second quarter 2023 earnings released: ฿0.10 loss per share (vs ฿0.01 profit in 2Q 2022)Second quarter 2023 results: ฿0.10 loss per share (down from ฿0.01 profit in 2Q 2022). Revenue: ฿170.1m (up 39% from 2Q 2022). Net loss: ฿36.0m (down ฿39.5m from profit in 2Q 2022).お知らせ • Jun 30Index International Group Public Company Limited Announces Board AppointmentsIndex International Group Public Company Limited Approved the appointment of Mrs. Woranut Na Lamphun to be Member of the Executive Committee. Approved the appointment of Mr. Nathapong Tubtimthong to be Member of the Executive Committee. Approved the appointment of Mr.Nukool Hencharoensuk to be Member of the Executive Committee. Dr. Chainarong Na Lamphun Chairman of the Executive Committee, Dr. Pornlapas Na Lamphun Vice- Chairman of the Executive Committee, Mr. Rathawit Na Lamphun Vice- Chairman of the Executive Committee, Dr. Surin Sony Vice- Chairman of the Executive Committee, Dr. Vuthichai Phanchet Member of the Executive Committee, Ms. Nannapat Kongrod Member of the Executive Committee, Mr. Sathaporn Naphapayarksiri Member of the Executive Committee, Mrs. Warangkana Na Lamphun Member of the Executive Committee, Mrs. Woranut Na Lamphun Member of the Executive Committee, Mr. Nathapong Tubtimthong Member of the Executive Committee, Mr. Nukool Hencharoensuk Member of the Executive Committee.お知らせ • Jun 16+ 1 more updateIndex International Group Public Company Limited Announces Director and Executives ChangesIndex International Group Public Company Limited at its board meeting held on June 14, 2023, Approved the appointment of Mr. Sathaporn Naphapayarksiri to be the Board of Directors of the Company to replace Dr. Vuthichai Phanchet who resigned. The effective date is July 1st, 2023. Appointment of Mr. Rathawit Na Lamphun to be the Deputy Chief Executive Officer: Management. The effective date is July 17, 2023. Appointment of Mr. Sathaporn Naphapayarksiri to be the Deputy Chief Executive Officer: Operation. Appointment of Dr.Surin Sony to be the Deputy Chief Executive Officer: Business Development. Appointment of Mr. Nukool Hencharoensuk to be the Assistant Chief Executive Officer: Special Project. Appointment of Mr. Nathapong Tubtimthong to be the Assistant Chief Executive Officer: Engineering. Appointment of Mrs.Woranut Na Lamphun to be the Assistant Chief Executive Officer: Human Resources. Approved the appointment of Dr. Pornlapas Na Lamphun to be Member of the Nomination and Remuneration Committee to replace Dr. Chainarong Na Lamphun who resigned. The effective date is July 17, 2023 onwards.Valuation Update With 7 Day Price Move • Dec 15Investor sentiment improved over the past weekAfter last week's 19% share price gain to ฿1.66, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 32x in the Construction industry in Thailand. Total loss to shareholders of 17% over the past year.Board Change • Nov 16No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Assistant CEO, Company Secretary & Director Rathawit Na Lamphun was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Aug 16Second quarter 2022 earnings released: EPS: ฿0.01 (vs ฿0.023 loss in 2Q 2021)Second quarter 2022 results: EPS: ฿0.01 (up from ฿0.023 loss in 2Q 2021). Revenue: ฿122.4m (up 70% from 2Q 2021). Net income: ฿3.44m (up ฿11.6m from 2Q 2021). Profit margin: 2.8% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue.お知らせ • Jul 20Index International Group Public Company Limited Announces Executive ChangesIndex International Group Public Company Limited resolved to approve the appointment of directors in sub-committees as follows: Approved the appointment of Mr.Suchart Kadjinakul to be Member of the Risk Management Committee. Approved the appointment of Mr. Sathaporn Naphapayarksiri to be Member of the Executive Committee. the effective date is July 19, 2022 onwards.Valuation Update With 7 Day Price Move • Jul 05Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to ฿1.79, the stock trades at a trailing P/E ratio of 17x. Average trailing P/E is 25x in the Construction industry in Thailand. Total loss to shareholders of 9.1% over the past year.Reported Earnings • May 16First quarter 2022 earnings released: EPS: ฿0.04 (vs ฿0.025 loss in 1Q 2021)First quarter 2022 results: EPS: ฿0.04 (up from ฿0.025 loss in 1Q 2021). Revenue: ฿154.7m (up 103% from 1Q 2021). Net income: ฿13.7m (up ฿22.6m from 1Q 2021). Profit margin: 8.9% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue.Valuation Update With 7 Day Price Move • Apr 18Investor sentiment improved over the past weekAfter last week's 20% share price gain to ฿2.36, the stock trades at a trailing P/E ratio of 57.9x. Average trailing P/E is 35x in the Construction industry in Thailand. Total returns to shareholders of 17% over the past year.Reported Earnings • Feb 27Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: ฿0.041 (down from ฿0.08 in FY 2020). Revenue: ฿473.7m (down 17% from FY 2020). Net income: ฿14.3m (down 20% from FY 2020). Profit margin: 3.0% (down from 3.1% in FY 2020). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates.Reported Earnings • Nov 18Third quarter 2021 earnings released: ฿0.006 loss per share (vs ฿0.039 profit in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: ฿68.9m (down 49% from 3Q 2020). Net loss: ฿2.02m (down 125% from profit in 3Q 2020).Reported Earnings • Aug 18Second quarter 2021 earnings released: ฿0.023 loss per share (vs ฿0.033 loss in 2Q 2020)The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: ฿71.2m (down 49% from 2Q 2020). Net loss: ฿8.19m (loss widened 129% from 2Q 2020).Reported Earnings • May 17First quarter 2021 earnings released: ฿0.03 loss per share (vs ฿0.01 profit in 1Q 2020)The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: ฿78.8m (down 46% from 1Q 2020). Net loss: ฿8.85m (down ฿10.3m from profit in 1Q 2020).Valuation Update With 7 Day Price Move • Mar 22Investor sentiment improved over the past weekAfter last week's 16% share price gain to ฿2.14, the stock trades at a trailing P/E ratio of 26.8x. Average trailing P/E is 21x in the Construction industry in Thailand.お知らせ • Mar 14Index International Group Public Company Limited Announces Signing Contract for Construction Supervision of Pipeline Laying Through Tak Province Under the Design-Build Project for Nakhon Lampang Oil DepotIndex International Group Public Company Limited announced that the Company has signed the Contract with Fuel Pipeline Transportation Company Limited for Construction Supervision of Pipeline Laying through Tak Province under the Design-Build Project for Nakhon Lampang Oil Depot. Signing Date was March 1, 2021 Estimated Contract Value is THB 9,800,000 (Excluding VAT) and the project duration is approximately 8 months.お知らせ • Mar 12Index International Group Public Company Limited Announces Signing of Contract for the Feasibility Study of the Construction of Phayao AirportIndex International Group Public Company Limited informed that the Company has signed the Contract for the Feasibility Study of the Construction of Phayao Airport, Phayao Province. The details are as follows; Client: Department of Airports; Signing Date: March 10, 2021; Estimated Contract Value: THB 2,896,300.00 (Including VAT); Project Duration: Approximately 270 days.お知らせ • Feb 23Index International Group Public Company Limited Announces Signing Contract for the Survey and Design Project to Improve and Resolve Traffic Problems on Highway No.4, Nakhon PathomIndex International Group Public Company Limited announced that the company has signed the Contract for the Survey and Design Project to Improve and Resolve Traffic Problems on Highway No.4, Nakhon Pathom – Ratchaburi Section. The details are as follows; Client: Department of Highways, Signing Date: February 22, 2021, Estimated Contract Value: THB 11,045,610.00 (Including VAT), Project Duration: Approximately 450 days.お知らせ • Dec 23Index International Group Public Company Limited has completed an IPO in the amount of THB 99 million.Index International Group Public Company Limited has completed an IPO in the amount of THB 99 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 90,000,000 Price\Range: THB 1.1 Transaction Features: Reserved Share Offering株主還元INDTH ConstructionTH 市場7D11.1%3.4%3.4%1Y13.6%35.0%42.1%株主還元を見る業界別リターン: IND過去 1 年間で35 % の収益を上げたTH Construction業界を下回りました。リターン対市場: INDは、過去 1 年間で42.1 % のリターンを上げたTH市場を下回りました。価格変動Is IND's price volatile compared to industry and market?IND volatilityIND Average Weekly Movement7.2%Construction Industry Average Movement5.2%Market Average Movement4.1%10% most volatile stocks in TH Market10.2%10% least volatile stocks in TH Market1.9%安定した株価: INDの株価は、 TH市場と比較して過去 3 か月間で変動しています。時間の経過による変動: INDの weekly volatility ( 7% ) は過去 1 年間安定していますが、依然としてTHの株式の 75% よりも高くなっています。会社概要設立従業員CEO（最高経営責任者ウェブサイト1983n/aPornlapas Na Lamphunwww.index.co.thインデックス・インターナショナル・グループ社は、タイでエンジニアリング・コンサルタント業を営んでいる。プロジェクト計画、都市・地区計画、造園・建築を含む建築設計、構造・電気・機械・交通・衛生・地盤・環境・水資源工学を含むエンジニアリング設計など、幅広いサービスを提供。また、用地偵察・調査、社会経済調査・分析、実現可能性分析などの分野におけるマスタープラン、予備設計、詳細設計、必要に応じて縮尺モデル、仕様書・図面、数量表、調達・建設に必要なその他の技術説明、地理情報システムなど、建設や入札契約のための完全な設計・エンジニアリングサービスも提供している。さらに、設計・エンジニアリング段階における建築家・エンジニアへの建設インプットの提供、ターンキー、設計・施工、コンセッション・プロジェクトの建設管理、段階的建設に必要な契約手続きへの対応、資材・設備の調達サービス（調達の迅速化、店頭検査、出荷を含む）、スケジュール・品質管理サービス、バリュー・エンジニアリング・サービスを含む、プロジェクト管理／建設監督サービスも提供している。さらに、環境教育構造の企画・設計、プロジェクトのコスト管理、商品保管システムの開発アドバイス、プロジェクト詳細設計のコンサルティング、プロジェクトのシステム工事を構成する設計内容のケアなどの設計・施工サービスも提供している。また、LEED認証取得のためのコンサルティングサービスも提供している。同社は1983年に設立され、タイのパトゥムターニーを拠点としている。もっと見るIndex International Group Public Company Limited 基礎のまとめIndex International Group の収益と売上を時価総額と比較するとどうか。IND 基礎統計学時価総額฿350.00m収益（TTM）฿60.52m売上高(TTM)฿1.10b5.8xPER（株価収益率0.3xP/SレシオIND は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計IND 損益計算書（TTM）収益฿1.10b売上原価฿916.50m売上総利益฿187.21mその他の費用฿126.70m収益฿60.52m直近の収益報告Mar 31, 2026次回決算日該当なし一株当たり利益（EPS）0.17グロス・マージン16.96%純利益率5.48%有利子負債／自己資本比率1.8%IND の長期的なパフォーマンスは？過去の実績と比較を見る配当金7.3%現在の配当利回り41%配当性向View Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/07/15 10:24終値2026/07/15 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このレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Index International Group 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Natapon KhamthakrueYuanta Securities (Thailand) Company Limited
New Risk • Jun 25New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (46% accrual ratio). Market cap is less than US$10m (฿301.0m market cap, or US$9.02m). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.4% average weekly change). Profit margins are more than 30% lower than last year (5.5% net profit margin).
New Risk • May 22New major risk - Market cap sizeThe company's market capitalization is less than US$10m. Market cap: ฿325.5m (US$9.96m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (฿325.5m market cap, or US$9.96m). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (5.5% net profit margin).
New Risk • May 18New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.5% Last year net profit margin: 8.4% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (5.5% net profit margin). Market cap is less than US$100m (฿329.0m market cap, or US$10.1m).
Upcoming Dividend • Apr 28Upcoming dividend of ฿0.073 per shareEligible shareholders must have bought the stock before 05 May 2026. Payment date: 20 May 2026. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 6.4%. Lower than top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (4.2%).
お知らせ • Apr 23Index International Group Public Company Limited Appoints Sangchai Theerakulwanich as New DirectorIndex International Group Public Company Limited at its Annual General Meeting of Shareholders for 2026 held on April 22nd, 2026, approved the appointment of Mr. Sangchai Theerakulwanich as a new director to replace the director who retired by rotation.
Buy Or Sell Opportunity • Mar 06Now 24% overvaluedOver the last 90 days, the stock has fallen 3.4% to ฿1.15. The fair value is estimated to be ฿0.93, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 65%.
New Risk • Jun 25New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (46% accrual ratio). Market cap is less than US$10m (฿301.0m market cap, or US$9.02m). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.4% average weekly change). Profit margins are more than 30% lower than last year (5.5% net profit margin).
New Risk • May 22New major risk - Market cap sizeThe company's market capitalization is less than US$10m. Market cap: ฿325.5m (US$9.96m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (฿325.5m market cap, or US$9.96m). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (5.5% net profit margin).
New Risk • May 18New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.5% Last year net profit margin: 8.4% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (5.5% net profit margin). Market cap is less than US$100m (฿329.0m market cap, or US$10.1m).
Upcoming Dividend • Apr 28Upcoming dividend of ฿0.073 per shareEligible shareholders must have bought the stock before 05 May 2026. Payment date: 20 May 2026. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 6.4%. Lower than top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (4.2%).
お知らせ • Apr 23Index International Group Public Company Limited Appoints Sangchai Theerakulwanich as New DirectorIndex International Group Public Company Limited at its Annual General Meeting of Shareholders for 2026 held on April 22nd, 2026, approved the appointment of Mr. Sangchai Theerakulwanich as a new director to replace the director who retired by rotation.
Buy Or Sell Opportunity • Mar 06Now 24% overvaluedOver the last 90 days, the stock has fallen 3.4% to ฿1.15. The fair value is estimated to be ฿0.93, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 65%.
Reported Earnings • Feb 16Full year 2025 earnings released: EPS: ฿0.21 (vs ฿0.17 in FY 2024)Full year 2025 results: EPS: ฿0.21 (up from ฿0.17 in FY 2024). Revenue: ฿1.10b (up 39% from FY 2024). Net income: ฿75.0m (up 30% from FY 2024). Profit margin: 6.8% (down from 7.3% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.
Declared Dividend • Feb 14Dividend increased to ฿0.073Dividend of ฿0.073 is 10% higher than last year. Ex-date: 5th May 2026 Payment date: 20th May 2026 Dividend yield will be 6.2%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (22% earnings payout ratio) but not covered by cash flows (dividend approximately 13x free cash flows). The dividend has increased by an average of 110% per year over the past 2 years and payments have been stable during that time. Earnings per share has grown by 37% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
お知らせ • Feb 13+ 1 more updateIndex International Group Public Company Limited Announces Replacement of Prasert Tapaneeyangkul as Independent DirectorIndex International Group Public Company Limited announced the replacement of Mr. Prasert Tapaneeyangkul as Independent Director.
Valuation Update With 7 Day Price Move • Feb 13Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ฿1.17, the stock trades at a trailing P/E ratio of 3.9x. Average trailing P/E is 13x in the Construction industry in Thailand. Total loss to shareholders of 29% over the past three years.
お知らせ • Feb 13Index International Group Public Company Limited, Annual General Meeting, Apr 22, 2026Index International Group Public Company Limited, Annual General Meeting, Apr 22, 2026, at 13:00 SE Asia Standard Time.
Valuation Update With 7 Day Price Move • Dec 26Investor sentiment improves as stock rises 28%After last week's 28% share price gain to ฿1.45, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 12x in the Construction industry in Thailand. Total loss to shareholders of 3.4% over the past three years.
Valuation Update With 7 Day Price Move • Dec 03Investor sentiment improves as stock rises 15%After last week's 15% share price gain to ฿1.21, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 12x in the Construction industry in Thailand. Total loss to shareholders of 5.0% over the past three years.
Reported Earnings • Nov 15Third quarter 2025 earnings released: EPS: ฿0.07 (vs ฿0.047 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.07 (up from ฿0.047 in 3Q 2024). Revenue: ฿279.1m (up 28% from 3Q 2024). Net income: ฿24.0m (up 47% from 3Q 2024). Profit margin: 8.6% (up from 7.5% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.
New Risk • Sep 25New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (47% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.1% average weekly change). Market cap is less than US$100m (฿409.5m market cap, or US$12.7m).
Reported Earnings • Aug 14Second quarter 2025 earnings released: EPS: ฿0.09 (vs ฿0.018 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.09 (up from ฿0.018 in 2Q 2024). Revenue: ฿340.3m (up 136% from 2Q 2024). Net income: ฿31.6m (up 404% from 2Q 2024). Profit margin: 9.3% (up from 4.3% 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 36% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • Aug 08Investor sentiment improves as stock rises 23%After last week's 23% share price gain to ฿1.08, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 15x in the Construction industry in Thailand. Total loss to shareholders of 41% over the past three years.
Board Change • May 16Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Chonthit Darawong was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • May 09First quarter 2025 earnings released: EPS: ฿60.00 (vs ฿0.022 in 1Q 2024)First quarter 2025 results: EPS: ฿60.00 (up from ฿0.022 in 1Q 2024). Revenue: ฿227.3m (up 29% from 1Q 2024). Net income: ฿20.8m (up 165% from 1Q 2024). Profit margin: 9.1% (up from 4.5% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Apr 25Upcoming dividend of ฿0.066 per shareEligible shareholders must have bought the stock before 02 May 2025. Payment date: 20 May 2025. Payout ratio is a comfortable 40% and the cash payout ratio is 96%. Trailing yield: 7.6%. Lower than top quartile of Thai dividend payers (7.9%). Higher than average of industry peers (2.9%).
お知らせ • Apr 24+ 1 more updateIndex International Group Public Company Limited Resolves to Approve Dividend for the Year 2024, Payable on 20 May 2025Index International Group Public Company Limited at its AGM held on 23 April 2025 resolved to approve the allocation of the annual net profit as legal reserve fund of THB 2,894,990 and dividend payment from net profit of the year 2024 to the shareholders in the ratio of THB 0.0662 per share. Total of dividend payment is not exceed THB 23,170,000. The dividend Payout Ratio equivalent to 40% of net profit after legal reserve for the year 2024. The record date for the rights to receive the dividend will be on 6th May 2025. The cash dividend shall be paid on 20th May 2025.
Buy Or Sell Opportunity • Mar 12Now 22% undervaluedOver the last 90 days, the stock has risen 4.9% to ฿0.86. The fair value is estimated to be ฿1.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 11%.
Declared Dividend • Feb 20Dividend of ฿0.066 announcedShareholders will receive a dividend of ฿0.066. Ex-date: 2nd May 2025 Payment date: 20th May 2025 Dividend yield will be 7.8%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but not adequately covered by cash flows (96% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. The company's earnings per share (EPS) would need to decline by 56% to shift the payout ratio to a potentially unsustainable range, which is more than the 12% EPS decline seen over the last 5 years.
Reported Earnings • Feb 19Full year 2024 earnings released: EPS: ฿0.17 (vs ฿0.038 in FY 2023)Full year 2024 results: EPS: ฿0.17 (up from ฿0.038 in FY 2023). Revenue: ฿795.7m (up 4.6% from FY 2023). Net income: ฿57.9m (up 333% from FY 2023). Profit margin: 7.3% (up from 1.8% in FY 2023). The increase in margin was primarily 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 fallen by 23% per year, which means it is significantly lagging earnings.
New Risk • Feb 18New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (฿287.0m market cap, or US$8.52m). Minor Risk Share price has been volatile over the past 3 months (7.3% average weekly change).
お知らせ • Feb 18+ 1 more updateIndex International Group Public Company Limited Proposes Cash Dividend for the Year 2024, Payable on May 20, 2025Index International Group Public Company Limited proposed cash dividend payment to the shareholders in the ratio of THB 0.0662 per share. Total of dividend payment is not exceeding THB 23,170,000 from net profit of the year 2024. The dividend Payout Ratio equivalent to 40 % of net profit after legal reserve for the year 2024 The record date for the rights to receive the dividend will be on 6th May 2025. The cash dividend shall be paid on 20th May 2025.
Reported Earnings • Nov 14Third quarter 2024 earnings released: EPS: ฿0.05 (vs ฿0.03 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.05 (up from ฿0.03 in 3Q 2023). Revenue: ฿217.9m (up 24% from 3Q 2023). Net income: ฿16.4m (up 57% from 3Q 2023). Profit margin: 7.5% (up from 5.9% in 3Q 2023). The increase in margin was driven by higher revenue. 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 24% per year, which means it is significantly lagging earnings.
Reported Earnings • Aug 14Second quarter 2024 earnings released: EPS: ฿0.02 (vs ฿0.10 loss in 2Q 2023)Second quarter 2024 results: EPS: ฿0.02 (up from ฿0.10 loss in 2Q 2023). Revenue: ฿144.3m (down 15% from 2Q 2023). Net income: ฿6.27m (up ฿42.3m from 2Q 2023). Profit margin: 4.3% (up from net loss in 2Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings.
Reported Earnings • May 15First quarter 2024 earnings released: EPS: ฿0.02 (vs ฿0.036 in 1Q 2023)First quarter 2024 results: EPS: ฿0.02 (down from ฿0.036 in 1Q 2023). Revenue: ฿176.3m (up 3.8% from 1Q 2023). Net income: ฿7.86m (down 37% from 1Q 2023). Profit margin: 4.5% (down from 7.3% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings.
お知らせ • Apr 27Index International Group Public Company Limited Approves Dividend Payment for the Year 2023, Payable on 21 May 2024Index International Group Public Company Limited at its AGM held on April 25, 2024, approved the dividend payment from net profit of the year 2023 to the shareholders in the ratio of THB 0.015 per share. Total of dividend payment is not exceed THB 5,250,000. The dividend Payout Ratio equivalent to 40 % of net profit after legal reserve for the year 2023. The record date for the rights to receive the dividend will be on 7 May 2024. The cash dividend shall be paid on 21 May 2024.
お知らせ • Mar 22Index International Group Public Company Limited Announces the Change of Chief AccountantIndex International Group Public Company Limited announced the change of Chief Accountant. The company announced the termination of Miss Wiyada Ngamsom as Accounting Manager. Effective Date of Termination; April 1, 2024. The company announced the appointment of Miss Sudaporn Rachinta as Accounting Manager. Effective Date of Termination; April 1, 2024.
Reported Earnings • Feb 24Full year 2023 earnings released: EPS: ฿0.038 (vs ฿0.093 in FY 2022)Full year 2023 results: EPS: ฿0.038 (down from ฿0.093 in FY 2022). Revenue: ฿760.5m (up 24% from FY 2022). Net income: ฿13.4m (down 59% from FY 2022). Profit margin: 1.8% (down from 5.3% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings.
お知らせ • Feb 23+ 1 more updateIndex International Group Public Company Proposes Dividend for the Year Ended December 31, 2023, Payable on May 21, 2024Index International Group Public Company Limited at its board of meeting held on February 22, 2024, approved to propose the 2024 AGM, cash dividend payment to the shareholders in the ratio of THB 0.015 per share. Total of dividend payment is not exceed THB 5,250,000 from net profit of the year 2023. The dividend Payout Ratio equivalent to 40 % of net profit after legal reserve for the year 2023. The record date for the rights to receive the dividend will be on May 7, 2024. The cash dividend shall be paid on May 21, 2024.
Reported Earnings • Nov 11Third quarter 2023 earnings released: EPS: ฿0.03 (vs ฿0.011 in 3Q 2022)Third quarter 2023 results: EPS: ฿0.03 (up from ฿0.011 in 3Q 2022). Revenue: ฿175.2m (up 35% from 3Q 2022). Net income: ฿10.4m (up 164% from 3Q 2022). Profit margin: 5.9% (up from 3.0% in 3Q 2022). The increase in margin was driven by higher revenue.
New Risk • Aug 16New major risk - Market cap sizeThe company's market capitalization is less than US$10m. Market cap: ฿336.0m (US$9.47m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 11% per year over the past 5 years. Market cap is less than US$10m (฿336.0m market cap, or US$9.47m). Minor Risk Share price has been volatile over the past 3 months (6.9% average weekly change).
New Risk • Aug 11New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 11% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (฿364.0m market cap, or US$10.4m).
Reported Earnings • Aug 11Second quarter 2023 earnings released: ฿0.10 loss per share (vs ฿0.01 profit in 2Q 2022)Second quarter 2023 results: ฿0.10 loss per share (down from ฿0.01 profit in 2Q 2022). Revenue: ฿170.1m (up 39% from 2Q 2022). Net loss: ฿36.0m (down ฿39.5m from profit in 2Q 2022).
お知らせ • Jun 30Index International Group Public Company Limited Announces Board AppointmentsIndex International Group Public Company Limited Approved the appointment of Mrs. Woranut Na Lamphun to be Member of the Executive Committee. Approved the appointment of Mr. Nathapong Tubtimthong to be Member of the Executive Committee. Approved the appointment of Mr.Nukool Hencharoensuk to be Member of the Executive Committee. Dr. Chainarong Na Lamphun Chairman of the Executive Committee, Dr. Pornlapas Na Lamphun Vice- Chairman of the Executive Committee, Mr. Rathawit Na Lamphun Vice- Chairman of the Executive Committee, Dr. Surin Sony Vice- Chairman of the Executive Committee, Dr. Vuthichai Phanchet Member of the Executive Committee, Ms. Nannapat Kongrod Member of the Executive Committee, Mr. Sathaporn Naphapayarksiri Member of the Executive Committee, Mrs. Warangkana Na Lamphun Member of the Executive Committee, Mrs. Woranut Na Lamphun Member of the Executive Committee, Mr. Nathapong Tubtimthong Member of the Executive Committee, Mr. Nukool Hencharoensuk Member of the Executive Committee.
お知らせ • Jun 16+ 1 more updateIndex International Group Public Company Limited Announces Director and Executives ChangesIndex International Group Public Company Limited at its board meeting held on June 14, 2023, Approved the appointment of Mr. Sathaporn Naphapayarksiri to be the Board of Directors of the Company to replace Dr. Vuthichai Phanchet who resigned. The effective date is July 1st, 2023. Appointment of Mr. Rathawit Na Lamphun to be the Deputy Chief Executive Officer: Management. The effective date is July 17, 2023. Appointment of Mr. Sathaporn Naphapayarksiri to be the Deputy Chief Executive Officer: Operation. Appointment of Dr.Surin Sony to be the Deputy Chief Executive Officer: Business Development. Appointment of Mr. Nukool Hencharoensuk to be the Assistant Chief Executive Officer: Special Project. Appointment of Mr. Nathapong Tubtimthong to be the Assistant Chief Executive Officer: Engineering. Appointment of Mrs.Woranut Na Lamphun to be the Assistant Chief Executive Officer: Human Resources. Approved the appointment of Dr. Pornlapas Na Lamphun to be Member of the Nomination and Remuneration Committee to replace Dr. Chainarong Na Lamphun who resigned. The effective date is July 17, 2023 onwards.
Valuation Update With 7 Day Price Move • Dec 15Investor sentiment improved over the past weekAfter last week's 19% share price gain to ฿1.66, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 32x in the Construction industry in Thailand. Total loss to shareholders of 17% over the past year.
Board Change • Nov 16No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Assistant CEO, Company Secretary & Director Rathawit Na Lamphun was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Aug 16Second quarter 2022 earnings released: EPS: ฿0.01 (vs ฿0.023 loss in 2Q 2021)Second quarter 2022 results: EPS: ฿0.01 (up from ฿0.023 loss in 2Q 2021). Revenue: ฿122.4m (up 70% from 2Q 2021). Net income: ฿3.44m (up ฿11.6m from 2Q 2021). Profit margin: 2.8% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue.
お知らせ • Jul 20Index International Group Public Company Limited Announces Executive ChangesIndex International Group Public Company Limited resolved to approve the appointment of directors in sub-committees as follows: Approved the appointment of Mr.Suchart Kadjinakul to be Member of the Risk Management Committee. Approved the appointment of Mr. Sathaporn Naphapayarksiri to be Member of the Executive Committee. the effective date is July 19, 2022 onwards.
Valuation Update With 7 Day Price Move • Jul 05Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to ฿1.79, the stock trades at a trailing P/E ratio of 17x. Average trailing P/E is 25x in the Construction industry in Thailand. Total loss to shareholders of 9.1% over the past year.
Reported Earnings • May 16First quarter 2022 earnings released: EPS: ฿0.04 (vs ฿0.025 loss in 1Q 2021)First quarter 2022 results: EPS: ฿0.04 (up from ฿0.025 loss in 1Q 2021). Revenue: ฿154.7m (up 103% from 1Q 2021). Net income: ฿13.7m (up ฿22.6m from 1Q 2021). Profit margin: 8.9% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue.
Valuation Update With 7 Day Price Move • Apr 18Investor sentiment improved over the past weekAfter last week's 20% share price gain to ฿2.36, the stock trades at a trailing P/E ratio of 57.9x. Average trailing P/E is 35x in the Construction industry in Thailand. Total returns to shareholders of 17% over the past year.
Reported Earnings • Feb 27Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: ฿0.041 (down from ฿0.08 in FY 2020). Revenue: ฿473.7m (down 17% from FY 2020). Net income: ฿14.3m (down 20% from FY 2020). Profit margin: 3.0% (down from 3.1% in FY 2020). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates.
Reported Earnings • Nov 18Third quarter 2021 earnings released: ฿0.006 loss per share (vs ฿0.039 profit in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: ฿68.9m (down 49% from 3Q 2020). Net loss: ฿2.02m (down 125% from profit in 3Q 2020).
Reported Earnings • Aug 18Second quarter 2021 earnings released: ฿0.023 loss per share (vs ฿0.033 loss in 2Q 2020)The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: ฿71.2m (down 49% from 2Q 2020). Net loss: ฿8.19m (loss widened 129% from 2Q 2020).
Reported Earnings • May 17First quarter 2021 earnings released: ฿0.03 loss per share (vs ฿0.01 profit in 1Q 2020)The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: ฿78.8m (down 46% from 1Q 2020). Net loss: ฿8.85m (down ฿10.3m from profit in 1Q 2020).
Valuation Update With 7 Day Price Move • Mar 22Investor sentiment improved over the past weekAfter last week's 16% share price gain to ฿2.14, the stock trades at a trailing P/E ratio of 26.8x. Average trailing P/E is 21x in the Construction industry in Thailand.
お知らせ • Mar 14Index International Group Public Company Limited Announces Signing Contract for Construction Supervision of Pipeline Laying Through Tak Province Under the Design-Build Project for Nakhon Lampang Oil DepotIndex International Group Public Company Limited announced that the Company has signed the Contract with Fuel Pipeline Transportation Company Limited for Construction Supervision of Pipeline Laying through Tak Province under the Design-Build Project for Nakhon Lampang Oil Depot. Signing Date was March 1, 2021 Estimated Contract Value is THB 9,800,000 (Excluding VAT) and the project duration is approximately 8 months.
お知らせ • Mar 12Index International Group Public Company Limited Announces Signing of Contract for the Feasibility Study of the Construction of Phayao AirportIndex International Group Public Company Limited informed that the Company has signed the Contract for the Feasibility Study of the Construction of Phayao Airport, Phayao Province. The details are as follows; Client: Department of Airports; Signing Date: March 10, 2021; Estimated Contract Value: THB 2,896,300.00 (Including VAT); Project Duration: Approximately 270 days.
お知らせ • Feb 23Index International Group Public Company Limited Announces Signing Contract for the Survey and Design Project to Improve and Resolve Traffic Problems on Highway No.4, Nakhon PathomIndex International Group Public Company Limited announced that the company has signed the Contract for the Survey and Design Project to Improve and Resolve Traffic Problems on Highway No.4, Nakhon Pathom – Ratchaburi Section. The details are as follows; Client: Department of Highways, Signing Date: February 22, 2021, Estimated Contract Value: THB 11,045,610.00 (Including VAT), Project Duration: Approximately 450 days.
お知らせ • Dec 23Index International Group Public Company Limited has completed an IPO in the amount of THB 99 million.Index International Group Public Company Limited has completed an IPO in the amount of THB 99 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 90,000,000 Price\Range: THB 1.1 Transaction Features: Reserved Share Offering
