New Risk • Mar 04
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿302.8m (US$9.60m) 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 1.2% per year over the past 5 years. Market cap is less than US$10m (฿302.8m market cap, or US$9.60m). Reported Earnings • Mar 01
Full year 2025 earnings released: ฿0.031 loss per share (vs ฿0.064 loss in FY 2024) Full year 2025 results: ฿0.031 loss per share (improved from ฿0.064 loss in FY 2024). Revenue: ฿277.8m (up 4.7% from FY 2024). Net loss: ฿14.4m (loss narrowed 51% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. お知らせ • Feb 24
T.M.C. Industrial Public Company Limited, Annual General Meeting, Apr 25, 2026 T.M.C. Industrial Public Company Limited, Annual General Meeting, Apr 25, 2026, at 14:00 SE Asia Standard Time. Board Change • Feb 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Independent Director Sunee Nontikarn was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 11
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: ฿46.4m (down 31% from 3Q 2024). Net loss: ฿395.0k (loss narrowed 99% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. New Risk • Nov 07
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿321.2m (US$9.93m) 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. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 14
Second quarter 2025 earnings released: ฿0.039 loss per share (vs ฿0.002 profit in 2Q 2024) Second quarter 2025 results: ฿0.039 loss per share (down from ฿0.002 profit in 2Q 2024). Revenue: ฿58.9m (down 8.1% from 2Q 2024). Net loss: ฿17.7m (down ฿18.7m from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Reported Earnings • May 14
First quarter 2025 earnings released: ฿0.017 loss per share (vs ฿0.006 loss in 1Q 2024) First quarter 2025 results: ฿0.017 loss per share (further deteriorated from ฿0.006 loss in 1Q 2024). Revenue: ฿45.0m (flat on 1Q 2024). Net loss: ฿7.63m (loss widened 189% from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. New Risk • Feb 26
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿330.3m (US$9.79m) 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. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 23
Full year 2024 earnings released: ฿0.064 loss per share (vs ฿0.032 profit in FY 2023) Full year 2024 results: ฿0.064 loss per share (down from ฿0.032 profit in FY 2023). Revenue: ฿265.4m (down 19% from FY 2023). Net loss: ฿29.3m (down 299% from profit in FY 2023). Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 15% per year. New Risk • Nov 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 11% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risk Market cap is less than US$100m (฿545.9m market cap, or US$15.6m). Reported Earnings • Nov 14
Third quarter 2024 earnings released: ฿0.059 loss per share (vs ฿0.033 profit in 3Q 2023) Third quarter 2024 results: ฿0.059 loss per share (down from ฿0.033 profit in 3Q 2023). Revenue: ฿66.9m (down 19% from 3Q 2023). Net loss: ฿27.2m (down 280% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 20
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to ฿1.44, the stock trades at a trailing P/E ratio of 58.3x. Average trailing P/E is 17x in the Machinery industry in Thailand. Total loss to shareholders of 7.1% over the past three years. Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: ฿0.002 (vs ฿0.015 loss in 2Q 2023) Second quarter 2024 results: EPS: ฿0.002 (up from ฿0.015 loss in 2Q 2023). Revenue: ฿64.0m (up 28% from 2Q 2023). Net income: ฿976.0k (up ฿7.81m from 2Q 2023). Profit margin: 1.5% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 15
First quarter 2024 earnings released: ฿0.006 loss per share (vs ฿0.02 profit in 1Q 2023) First quarter 2024 results: ฿0.006 loss per share (down from ฿0.02 profit in 1Q 2023). Revenue: ฿45.1m (down 56% from 1Q 2023). Net loss: ฿2.64m (down 131% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 03
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ฿1.43, the stock trades at a trailing P/E ratio of 44.5x. Average trailing P/E is 22x in the Machinery industry in Thailand. Total returns to shareholders of 28% over the past three years. Reported Earnings • Feb 24
Full year 2023 earnings released: EPS: ฿0.032 (vs ฿0.58 in FY 2022) Full year 2023 results: EPS: ฿0.032 (down from ฿0.58 in FY 2022). Revenue: ฿326.6m (down 2.4% from FY 2022). Net income: ฿14.7m (down 95% from FY 2022). Profit margin: 4.5% (down from 80% in FY 2022). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. お知らせ • Feb 23
T.M.C. Industrial Public Company Limited, Annual General Meeting, Apr 27, 2024 T.M.C. Industrial Public Company Limited, Annual General Meeting, Apr 27, 2024, at 14:00 SE Asia Standard Time. Agenda: To acknowledge the performance of business operation of the Company for fiscal year ended 31 December 2023; to consider and approve the statement of financial position and the profit and loss statement for fiscal year ended 31 December 2023; to consider and approve the allocation of 2023 as a legal reserve and the omitting of dividend payment for the operating result of the year 2023; to consider and approve the appointment of director replacing those retiring by rotation; to consider and approve the Board of Directors' and the Sub-Committees' remuneration for the year of 2024; and to consider other matters. New Risk • Jan 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.3% 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 High level of non-cash earnings (61% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (฿991.0m market cap, or US$27.8m). Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ฿2.04, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 18x in the Machinery industry in Thailand. Total returns to shareholders of 179% over the past three years. Reported Earnings • Aug 11
Second quarter 2023 earnings released: ฿0.015 loss per share (vs ฿0.003 profit in 2Q 2022) Second quarter 2023 results: ฿0.015 loss per share (down from ฿0.003 profit in 2Q 2022). Revenue: ฿50.0m (down 43% from 2Q 2022). Net loss: ฿6.83m (down ฿8.15m from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 119% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ฿2.10, the stock trades at a trailing P/E ratio of 3.4x. Average trailing P/E is 15x in the Machinery industry in Thailand. Total returns to shareholders of 296% over the past three years. Valuation Update With 7 Day Price Move • May 02
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to ฿2.72, the stock trades at a trailing P/E ratio of 4.7x. Average trailing P/E is 15x in the Machinery industry in Thailand. Total returns to shareholders of 563% over the past three years. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ฿4.00, the stock trades at a trailing P/E ratio of 6.9x. Average trailing P/E is 15x in the Machinery industry in Thailand. Total returns to shareholders of 876% over the past three years. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿3.60, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 15x in the Machinery industry in Thailand. Total returns to shareholders of 1,061% over the past three years. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ฿3.16, the stock trades at a trailing P/E ratio of 21x. Average trailing P/E is 21x in the Machinery industry in Thailand. Total returns to shareholders of 990% over the past three years. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ฿3.72, the stock trades at a trailing P/E ratio of 24.7x. Average trailing P/E is 21x in the Machinery industry in Thailand. Total returns to shareholders of 830% over the past three years. お知らせ • Jan 17
T.M.C. Industrial Public Company Announces Board Changes T.M.C. Industrial Public Company Limited (the Company) would like to inform that the resolution of the Board of Directors Meeting No.1/2023 on January 16, 2023 as follows: The resignation of directors: Mrs. Tubtim Kamolmongkolsuk has resigned from the Director and Vice Chairman of Executive Committee. Ms. Pacharawalai Kamolmongkolsuk has resigned from the Director, Executive Director and Managing. The appointment of directors replace the resigned directors 2 persons as follow; Appointment of Mr. Nuttapong Panjaworayan as Director and Chief Executive Officer. Appointment of Mr. Warin Phadungsinth as Director and Managing Director. Summary of Directors as of January 17, 2023 as follows: Mr. Manu Leopairote: Independent Director /Chairman of the Board of Directors /Member of Audit Committee; Mr. Arthit Wuthikaro: Independent Director /Chairman of the Audit Committee; Mr. Mitthong Chulitawong: Independent Director /Member of Audit Committee; Mr. Thaweemit Kamolmongkolsuk: Director /Chairman of Executive Committee; Mr. Nuttapong Panjaworayan: Director /Chief Executive Officer; Mr. Warin Phadungsinth: Director /Managing Director; Ms. Pailin Kamolmongkolsuk: Director; Mr. Panom Rattanarat: Director; Mr. Boonlerd Iewpornchai: Director. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improved over the past week After last week's 38% share price gain to ฿3.60, the stock trades at a trailing P/E ratio of 23.9x. Average trailing P/E is 20x in the Machinery industry in Thailand. Total returns to shareholders of 778% over the past three years. お知らせ • Dec 15
T.M.C. Industrial Public Company Limited Approves the Appointment of Boonlerd Iewpornchai as a Director As the resolution from the Extraordinary General Meeting of Shareholders of the T.M.C. Industrial Public Company Limited held on December 14th, 2022, approved the appointment of Mr. Boonlerd Iewpornchai as a Company's Director. Valuation Update With 7 Day Price Move • Dec 13
Investor sentiment improved over the past week After last week's 23% share price gain to ฿2.74, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 18x in the Machinery industry in Thailand. Total returns to shareholders of 483% over the past three years. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improved over the past week After last week's 17% share price gain to ฿2.26, the stock trades at a trailing P/E ratio of 15x. Average trailing P/E is 19x in the Machinery industry in Thailand. Total returns to shareholders of 296% over the past three years. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 7 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Mitthong Chulitawong was the last independent director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 10
Third quarter 2022 earnings released: EPS: ฿0.16 (vs ฿0.018 loss in 3Q 2021) Third quarter 2022 results: EPS: ฿0.16 (up from ฿0.018 loss in 3Q 2021). Revenue: ฿95.7m (up 51% from 3Q 2021). Net income: ฿75.3m (up ฿83.4m from 3Q 2021). Profit margin: 79% (up from net loss in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 57% per year whereas the company’s share price has increased by 58% per year. Reported Earnings • Aug 11
Second quarter 2022 earnings released: EPS: ฿0.003 (vs ฿0.028 loss in 2Q 2021) Second quarter 2022 results: EPS: ฿0.003 (up from ฿0.028 loss in 2Q 2021). Revenue: ฿88.0m (up 43% from 2Q 2021). Net income: ฿1.32m (up ฿14.0m from 2Q 2021). Profit margin: 1.5% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 29% per year. Reported Earnings • May 14
First quarter 2022 earnings released: ฿0.01 loss per share (vs ฿0.038 loss in 1Q 2021) First quarter 2022 results: ฿0.01 loss per share (up from ฿0.038 loss in 1Q 2021). Revenue: ฿67.9m (up 55% from 1Q 2021). Net loss: ฿4.83m (loss narrowed 73% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 21% per year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 7 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Mitthong Chulitawong was the last independent director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. お知らせ • Feb 24
T.M.C. Industrial Public Company Limited, Annual General Meeting, Apr 23, 2022 T.M.C. Industrial Public Company Limited, Annual General Meeting, Apr 23, 2022, at 14:00 SE Asia Standard Time. Agenda: To consider and acknowledge the Company's 2021 Operating Results and Company's 56-1 One Report; to consider and Approve the Audited Financial Statements for the year ended December 31, 2021; to consider and approve no distribution of annual dividend from the company's operating results from January 1 to December 31, 2021; to consider and approve the appointment of director to replace of those retiring by rotation; to consider and approve the 2022 Remuneration for the Company's Directors; to consider and approve the appointment of the Company's Auditor for 2022 and the Auditor's Remuneration; and to consider other matter also. Reported Earnings • Feb 24
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: ฿0.09 loss per share (up from ฿0.12 loss in FY 2020). Revenue: ฿292.4m (down 2.3% from FY 2020). Net loss: ฿41.0m (loss narrowed 24% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 16% per year. Reported Earnings • Nov 11
Third quarter 2021 earnings released: ฿0.02 loss per share (vs ฿0.045 loss in 3Q 2020) The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2021 results: Revenue: ฿63.5m (down 19% from 3Q 2020). Net loss: ฿8.06m (loss narrowed 61% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 13% per year. Executive Departure • Jul 15
MD & Executive Director Surachet Kamolmongkolsuk has left the company On the 7th of July, Surachet Kamolmongkolsuk's tenure as MD & Executive Director of the company ended after 8.6 years in the role. Surachet still personally held 24.85m shares (฿28m worth) as of March 2021. This is 5.4% of the company. Surachet is the only executive to leave the company over the last 12 months. Under Surachet's leadership, the company delivered a total shareholder return of -87%. Reported Earnings • May 17
First quarter 2021 earnings released: ฿0.04 loss per share (vs ฿0.062 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: ฿43.8m (up 8.0% from 1Q 2020). Net loss: ฿17.6m (loss narrowed 38% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 4% per year. Is New 90 Day High Low • Mar 12
New 90-day high: ฿0.92 The company is up 33% from its price of ฿0.69 on 09 December 2020. The Thai market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 14% over the same period. Reported Earnings • Feb 25
Full year 2020 earnings released: ฿0.12 loss per share (vs ฿0.13 loss in FY 2019) The company reported a soft full year result with weaker revenues and control over costs, although losses reduced. Full year 2020 results: Revenue: ฿299.3m (down 45% from FY 2019). Net loss: ฿53.8m (loss narrowed 9.0% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Jan 15
New 90-day high: ฿0.73 The company is up 12% from its price of ฿0.65 on 16 October 2020. The Thai market is up 25% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Machinery industry, which is up 7.0% over the same period. Is New 90 Day High Low • Dec 29
New 90-day high: ฿0.72 The company is up 20% from its price of ฿0.60 on 30 September 2020. The Thai market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 6.0% over the same period. Is New 90 Day High Low • Nov 25
New 90-day high: ฿0.71 The company is up 18% from its price of ฿0.60 on 27 August 2020. The Thai market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 5.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: ฿0.05 loss per share The company reported a poor third quarter result with increased losses and weaker revenues and control over expenses. Third quarter 2020 results: Revenue: ฿78.8m (down 43% from 3Q 2019). Net loss: ฿20.8m (loss widened ฿17.7m from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Sep 25
New 90-day high: ฿0.63 The company is up 17% from its price of ฿0.54 on 26 June 2020. The Thai market is down 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is flat over the same period.