View Future GrowthTTCL 過去の業績過去 基準チェック /06TTCLの収益は年間平均-79.5%の割合で減少していますが、 Construction業界の収益は年間 増加しています。収益は年間10.1% 10%割合で 増加しています。主要情報-79.45%収益成長率-79.45%EPS成長率Construction 業界の成長-2.73%収益成長率10.00%株主資本利益率n/aネット・マージン-99.16%前回の決算情報31 Mar 2026最近の業績更新Reported Earnings • Mar 06Full year 2025 earnings released: ฿10.06 loss per share (vs ฿0.87 loss in FY 2024)Full year 2025 results: ฿10.06 loss per share (further deteriorated from ฿0.87 loss in FY 2024). Revenue: ฿7.20b (down 60% from FY 2024). Net loss: ฿6.20b (loss widened ฿5.66b from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance.Reported Earnings • Nov 16Third quarter 2025 earnings released: ฿4.76 loss per share (vs ฿0.056 profit in 3Q 2024)Third quarter 2025 results: ฿4.76 loss per share (down from ฿0.056 profit in 3Q 2024). Revenue: ฿2.04b (down 50% from 3Q 2024). Net loss: ฿2.93b (down ฿2.96b from profit in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance.Reported Earnings • Aug 16Second quarter 2025 earnings released: ฿2.76 loss per share (vs ฿0.001 profit in 2Q 2024)Second quarter 2025 results: ฿2.76 loss per share (down from ฿0.001 profit in 2Q 2024). Revenue: ฿1.57b (down 74% from 2Q 2024). Net loss: ฿1.70b (down ฿1.70b 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 65 percentage points per year, which is a significant difference in performance.Reported Earnings • Mar 02Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: ฿0.87 loss per share (down from ฿0.61 profit in FY 2023). Revenue: ฿17.9b (up 5.6% from FY 2023). Net loss: ฿537.4m (down 242% from profit in FY 2023). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 32% per year, which means it has not declined as severely as earnings.Reported Earnings • Aug 15Second quarter 2024 earnings released: EPS: ฿0.001 (vs ฿0.20 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.001 (down from ฿0.20 in 2Q 2023). Revenue: ฿6.03b (up 50% from 2Q 2023). Net income: ฿391.0k (down 100% from 2Q 2023). Profit margin: 0% (down from 3.0% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.Reported Earnings • Mar 02Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: EPS: ฿0.61 (down from ฿1.01 in FY 2022). Revenue: ฿17.0b (up 51% from FY 2022). Net income: ฿377.7m (down 40% from FY 2022). Profit margin: 2.2% (down from 5.5% in FY 2022). Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) missed analyst estimates by 9.0%. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.すべての更新を表示Recent updatesReported Earnings • Mar 06Full year 2025 earnings released: ฿10.06 loss per share (vs ฿0.87 loss in FY 2024)Full year 2025 results: ฿10.06 loss per share (further deteriorated from ฿0.87 loss in FY 2024). Revenue: ฿7.20b (down 60% from FY 2024). Net loss: ฿6.20b (loss widened ฿5.66b from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance.お知らせ • Mar 05TTCL Public Company Limited, Annual General Meeting, Apr 10, 2026TTCL Public Company Limited, Annual General Meeting, Apr 10, 2026, at 14:00 SE Asia Standard Time.New Risk • Nov 16New major risk - Negative shareholders equityThe company has negative equity. Total equity: -฿2.2b This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Negative equity (-฿2.2b). Earnings have declined by 59% per year over the past 5 years. Market cap is less than US$10m (฿110.9m market cap, or US$3.42m).Reported Earnings • Nov 16Third quarter 2025 earnings released: ฿4.76 loss per share (vs ฿0.056 profit in 3Q 2024)Third quarter 2025 results: ฿4.76 loss per share (down from ฿0.056 profit in 3Q 2024). Revenue: ฿2.04b (down 50% from 3Q 2024). Net loss: ฿2.93b (down ฿2.96b from profit in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance.New Risk • Oct 28New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 13% 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 Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 21% per year over the past 5 years. Market cap is less than US$10m (฿271.0m market cap, or US$8.35m).Board Change • Aug 21Less than half of directors are independentFollowing the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Director Nuttachat Charuchinda was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Aug 16Second quarter 2025 earnings released: ฿2.76 loss per share (vs ฿0.001 profit in 2Q 2024)Second quarter 2025 results: ฿2.76 loss per share (down from ฿0.001 profit in 2Q 2024). Revenue: ฿1.57b (down 74% from 2Q 2024). Net loss: ฿1.70b (down ฿1.70b 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 65 percentage points per year, which is a significant difference in performance.New Risk • Aug 08New 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 Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (฿529.8m market cap, or US$16.4m).New Risk • May 17New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (฿603.7m market cap, or US$18.1m).お知らせ • Apr 13TTCL Public Company Limited Approves Omission of Dividend for the Fiscal Year 2024TTCL Public Company Limited at its AGM held on April 11, 2025, approved non-payment of dividend for the operation result for the fiscal year 2024.Reported Earnings • Mar 02Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: ฿0.87 loss per share (down from ฿0.61 profit in FY 2023). Revenue: ฿17.9b (up 5.6% from FY 2023). Net loss: ฿537.4m (down 242% from profit in FY 2023). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 32% per year, which means it has not declined as severely as earnings.お知らせ • Mar 01+ 2 more updatesTtcl Public Company Limited Announces Company Secretary Changes, Effective March 1, 2025TTCL Public Company Limited's Board of Directors Meeting No. 1/2568 (the "Company") held on 28th February 2025 at 10.00 hours on 28th Floor, Serm-mit Tower, 159/41-44 Sukhumvit 21, Asoke Road, Khwaeng North Klongtoey, Khet Wattana, Bangkok Metropolis, passed the following resolutions: Approved the resignation of Ms. Kantika Tanthuvanit as the Company Secretary on March 1, 2025. Approved the appointment of Ms. Jaruwan Sookthauyart as the Company Secretary, effective from March 1, 2025 onward.Valuation Update With 7 Day Price Move • Dec 23Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ฿1.90, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 10x in the Construction industry in Thailand. Total loss to shareholders of 54% over the past three years.Buy Or Sell Opportunity • Dec 20Now 23% undervalued after recent price dropOver the last 90 days, the stock has fallen 34% to ฿2.00. The fair value is estimated to be ฿2.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 39% over the last 3 years. Earnings per share has declined by 14%. Revenue is forecast to decline by 6.2% in a year. Earnings are forecast to grow by 89% in the next year.お知らせ • Sep 10TTCL Public Company Limited Announces Resignation of Seiichi Itakura as DirectorTTCL Public Company Limited informed that Mr. Seiichi Itakura, Company Director has resigned from the directorship of TTCL due to his health problems, effective from September 9, 2024 onwards.Buy Or Sell Opportunity • Aug 23Now 21% overvaluedOver the last 90 days, the stock has fallen 17% to ฿3.18. The fair value is estimated to be ฿2.62, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 41% over the last 3 years. Earnings per share has grown by 6.3%. Revenue is forecast to decline by 8.4% in a year. Earnings are forecast to grow by 45% in the next year.Price Target Changed • Aug 23Price target decreased by 35% to ฿4.50Down from ฿6.95, the current price target is provided by 1 analyst. New target price is 44% above last closing price of ฿3.12. Stock is down 28% over the past year. The company is forecast to post earnings per share of ฿0.50 for next year compared to ฿0.61 last year.Major Estimate Revision • Aug 23Consensus EPS estimates fall by 34%, revenue upgradedThe consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from ฿17.4b to ฿18.3b. EPS estimate fell from ฿0.76 to ฿0.50 per share. Net income forecast to grow 45% next year vs 45% growth forecast for Construction industry in Thailand. Consensus price target down from ฿6.95 to ฿4.50. Share price was steady at ฿3.12 over the past week.Reported Earnings • Aug 15Second quarter 2024 earnings released: EPS: ฿0.001 (vs ฿0.20 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.001 (down from ฿0.20 in 2Q 2023). Revenue: ฿6.03b (up 50% from 2Q 2023). Net income: ฿391.0k (down 100% from 2Q 2023). Profit margin: 0% (down from 3.0% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.New Risk • Jun 05New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.8x net interest cover). High level of non-cash earnings (28% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (฿2.37b market cap, or US$64.7m).New Risk • Jun 02New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.2% Last year net profit margin: 5.5% 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: Major Risk High level of non-cash earnings (62% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (2.2% net profit margin). Market cap is less than US$100m (฿2.38b market cap, or US$64.5m).New Risk • May 17New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.8x net interest cover). High level of non-cash earnings (28% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (฿2.33b market cap, or US$64.2m).Upcoming Dividend • Apr 15Upcoming dividend of ฿0.10 per shareEligible shareholders must have bought the stock before 22 April 2024. Payment date: 10 May 2024. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 5.6%. Lower than top quartile of Thai dividend payers (5.8%). Higher than average of industry peers (1.8%).お知らせ • Apr 11TTCL Public Company Limited Approves Dividend for the Second Half of Year 2023, Payable on May 10, 2024TTCL Public Company Limited announced that at its AGM held on April 11, 2024, shareholders approved the distribution of dividends to the shareholders at the rate of THB 0.10 per share, with a total of THB 61.6 million for the second half of year 2023 when combined with the interim dividend for the first half of year 2023 at THB 0.10 per share or THB 61.6 million, will be totally at THB 0.20 per share or THB 123.2 million for dividend payment for the performance of year 2023, which is equivalent to 32.64% of the net profit of the year 2023 according to the consolidated financial statement. The record date for the right to receive dividend payment is on 23rd April 2024 and the dividend payment will be made on 10th May 2024.Reported Earnings • Mar 02Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: EPS: ฿0.61 (down from ฿1.01 in FY 2022). Revenue: ฿17.0b (up 51% from FY 2022). Net income: ฿377.7m (down 40% from FY 2022). Profit margin: 2.2% (down from 5.5% in FY 2022). Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) missed analyst estimates by 9.0%. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.お知らせ • Mar 01+ 2 more updatesTTCL Public Company Limited, Annual General Meeting, Apr 11, 2024TTCL Public Company Limited, Annual General Meeting, Apr 11, 2024, at 14:00 SE Asia Standard Time. Location: 27th Floor, Serm-mit Tower, 159/41-44 Sukhumvit 21, Asoke RoadKhwaeng North Klongtoey, Khet Wattana Khwaeng North Klongtoey, Khet Wattana Bangkok Metropolis Thailand Agenda: To adopt Minutes of the Annual General Meeting of Shareholder held on April 12, 2023; to report on the result of the company's operation for the year 2023; to approve the Statement of Financial Position and the Statement of Comprehensive Income of the Company for the fiscal year ended December 31, 2023; to consider and approve the appropriation of profit from the operating result of 2023 in the form of dividend payment; to consider and elect new Directors in place of those to be retired by rotation; to consider and approve the Board of Directors, Audit Committee and other sub-committee remuneration for the year 2024; to consider and approve the appointment of an Auditor and Audit Fee for the year 2024; to report the issuance and offering of debenture up to the year 2023; and to consider any other matters.Major Estimate Revision • Feb 16Consensus EPS estimates fall by 11%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from ฿0.75 to ฿0.67. Revenue forecast unchanged from ฿16.3b at last update. Net income forecast to grow 0.8% next year vs 0.8% growth forecast for Construction industry in Thailand. Consensus price target up from ฿6.80 to ฿6.94. Share price was steady at ฿3.56 over the past week.Reported Earnings • Nov 17Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2023 results: EPS: ฿0.13 (up from ฿0.03 in 3Q 2022). Revenue: ฿4.43b (up 46% from 3Q 2022). Net income: ฿78.1m (up 323% from 3Q 2022). Profit margin: 1.8% (up from 0.6% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.6%. Earnings per share (EPS) missed analyst estimates by 32%. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Construction industry in Thailand. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.Upcoming Dividend • Aug 21Upcoming dividend of ฿0.10 per share at 4.7% yieldEligible shareholders must have bought the stock before 28 August 2023. Payment date: 13 September 2023. Trailing yield: 4.7%. Lower than top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (2.1%).New Risk • Aug 18New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 4.7% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). High level of non-cash earnings (22% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (2.8% net profit margin). Market cap is less than US$100m (฿2.65b market cap, or US$74.9m).Reported Earnings • Aug 17Second quarter 2023 earnings released: EPS: ฿0.20 (vs ฿0.086 loss in 2Q 2022)Second quarter 2023 results: EPS: ฿0.20 (up from ฿0.086 loss in 2Q 2022). Revenue: ฿4.02b (up 46% from 2Q 2022). Net income: ฿120.5m (up ฿173.7m from 2Q 2022). Profit margin: 3.0% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 9.2% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Construction industry in Thailand. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.Reported Earnings • May 18First quarter 2023 earnings released: EPS: ฿0.21 (vs ฿0.87 in 1Q 2022)First quarter 2023 results: EPS: ฿0.21 (down from ฿0.87 in 1Q 2022). Revenue: ฿3.86b (up 49% from 1Q 2022). Net income: ฿129.5m (down 76% from 1Q 2022). Profit margin: 3.4% (down from 21% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Construction industry in Thailand. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Major Estimate Revision • Mar 18Consensus EPS estimates increase by 29%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from ฿11.9b to ฿13.0b. EPS estimate increased from ฿0.65 to ฿0.84 per share. Net income forecast to shrink 17% next year vs 40% growth forecast for Construction industry in Thailand . Consensus price target up from ฿7.80 to ฿8.35. Share price fell 3.2% to ฿4.30 over the past week.Reported Earnings • Mar 02Full year 2022 earnings released: EPS: ฿1.08 (vs ฿0.40 in FY 2021)Full year 2022 results: EPS: ฿1.08 (up from ฿0.40 in FY 2021). Revenue: ฿11.3b (up 78% from FY 2021). Net income: ฿667.4m (up 172% from FY 2021). Profit margin: 5.9% (up from 3.9% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Construction industry in Thailand. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.Reported Earnings • Nov 18Third quarter 2022 earnings released: EPS: ฿0.048 (vs ฿0.14 in 3Q 2021)Third quarter 2022 results: EPS: ฿0.048 (down from ฿0.14 in 3Q 2021). Revenue: ฿3.04b (up 106% from 3Q 2021). Net income: ฿29.5m (down 65% from 3Q 2021). Profit margin: 1.0% (down from 5.7% in 3Q 2021). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Construction industry in Thailand. Over the last 3 years on average, earnings per share has increased by 122% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.Board Change • Nov 16Less than half of directors are independentThere are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Director Nuttachat Charuchinda was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.Price Target Changed • Oct 05Price target increased to ฿7.80Up from ฿5.65, the current price target is provided by 1 analyst. New target price is 73% above last closing price of ฿4.50. Stock is up 2.3% over the past year. The company is forecast to post earnings per share of ฿1.07 for next year compared to ฿0.40 last year.Reported Earnings • Aug 18Second quarter 2022 earnings released: ฿0.068 loss per share (vs ฿0.17 profit in 2Q 2021)Second quarter 2022 results: ฿0.068 loss per share (down from ฿0.17 profit in 2Q 2021). Revenue: ฿2.75b (up 90% from 2Q 2021). Net loss: ฿42.1m (down 141% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 14%, compared to a 19% growth forecast for the Construction industry in Thailand. Over the last 3 years on average, earnings per share has increased by 120% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings.Reported Earnings • May 22First quarter 2022 earnings released: EPS: ฿0.87 (vs ฿0.094 loss in 1Q 2021)First quarter 2022 results: EPS: ฿0.87 (up from ฿0.094 loss in 1Q 2021). Revenue: ฿2.59b (up 50% from 1Q 2021). Net income: ฿538.0m (up ฿595.7m from 1Q 2021). Profit margin: 21% (up from net loss in 1Q 2021). Over the next year, revenue is forecast to grow 31%, compared to a 28% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.Board Change • Apr 27Less than half of directors are independentThere are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Director Nuttachat Charuchinda was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.Valuation Update With 7 Day Price Move • Mar 08Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to ฿4.22, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 29x in the Construction industry in Thailand. Total loss to shareholders of 38% over the past three years.Reported Earnings • Mar 02Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2021 results: EPS: ฿0.47 (up from ฿0.27 in FY 2020). Revenue: ฿6.35b (down 7.6% from FY 2020). Net income: ฿289.1m (up 74% from FY 2020). Profit margin: 4.6% (up from 2.4% in FY 2020). Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.Valuation Update With 7 Day Price Move • Feb 04Investor sentiment improved over the past weekAfter last week's 21% share price gain to ฿5.60, the stock trades at a trailing P/E ratio of 21.5x. Average trailing P/E is 28x in the Construction industry in Thailand. Total loss to shareholders of 21% over the past three years.Reported Earnings • Nov 17Third quarter 2021 earnings released: EPS ฿0.15 (vs ฿0.13 in 3Q 2020)The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: ฿1.47b (down 1.2% from 3Q 2020). Net income: ฿91.3m (up 13% from 3Q 2020). Profit margin: 6.2% (up from 5.4% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings.Valuation Update With 7 Day Price Move • Sep 13Investor sentiment improved over the past weekAfter last week's 15% share price gain to ฿5.00, the stock trades at a trailing P/E ratio of 28.6x. Average trailing P/E is 28x in the Construction industry in Thailand. Total loss to shareholders of 50% over the past three years.Valuation Update With 7 Day Price Move • Aug 23Investor sentiment improved over the past weekAfter last week's 16% share price gain to ฿4.36, the stock trades at a trailing P/E ratio of 24.9x. Average trailing P/E is 26x in the Construction industry in Thailand. Total loss to shareholders of 46% over the past three years.Reported Earnings • Aug 18Second quarter 2021 earnings released: EPS ฿0.18 (vs ฿0.16 loss in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿1.45b (up 26% from 2Q 2020). Net income: ฿114.2m (up ฿212.1m from 2Q 2020). Profit margin: 7.9% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings.Reported Earnings • May 21First quarter 2021 earnings released: ฿0.076 loss per share (vs ฿0.36 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: ฿1.73b (down 23% from 1Q 2020). Net loss: ฿46.9m (down 121% from profit in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings.Valuation Update With 7 Day Price Move • May 17Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to ฿4.86, the stock trades at a trailing P/E ratio of 18x. Average trailing P/E is 26x in the Construction industry in Thailand. Total loss to shareholders of 32% over the past three years.Analyst Estimate Surprise Post Earnings • Mar 05Revenue and earnings beat expectationsRevenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates. Over the next year, revenue is forecast to grow 11%, compared to a 15% growth forecast for the Construction industry in Thailand.Reported Earnings • Mar 03Full year 2020 earnings released: EPS ฿0.34 (vs ฿0.41 loss in FY 2019)The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ฿6.87b (down 35% from FY 2019). Net income: ฿210.3m (up ฿460.8m from FY 2019). Profit margin: 3.1% (up from net loss in FY 2019). The move to profitability was driven by lower expenses. 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 10% per year, which means it is performing significantly worse than earnings.Executive Departure • Feb 16Independent Director has left the companyOn the 15th of February, Gumthorn Utarnwuthipong's tenure in the role of Independent Director ended. We don't have any record of a personal shareholding under Gumthorn's name. A total of 2 executives have left over the last 12 months.Is New 90 Day High Low • Jan 18New 90-day high: ฿7.30The company is up 94% from its price of ฿3.76 on 20 October 2020. The Thai market is up 26% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 16% over the same period.Is New 90 Day High Low • Dec 28New 90-day high: ฿4.88The company is up 33% from its price of ฿3.68 on 29 September 2020. The Thai market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 4.0% over the same period.Is New 90 Day High Low • Dec 03New 90-day high: ฿4.54The company is up 32% from its price of ฿3.44 on 03 September 2020. The Thai market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is flat over the same period.Reported Earnings • Nov 18Third quarter 2020 earnings released: EPS ฿0.15The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: ฿1.49b (down 41% from 3Q 2019). Net income: ฿91.5m (up ฿326.5m from 3Q 2019). Profit margin: 6.1% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has fallen by 40% per year, which means it is performing significantly worse than earnings.収支内訳TTCL の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史SET:TTCL 収益、費用、利益 ( )THB Millions日付収益収益G+A経費研究開発費31 Mar 266,279-6,2264,440031 Dec 257,201-6,2004,606030 Sep 258,675-5,4114,123030 Jun 2510,678-2,4472,215031 Mar 2515,143-7451,092031 Dec 2417,922-537906030 Sep 2419,703200938030 Jun 2420,094244958031 Mar 2418,077364955031 Dec 2316,965378951030 Sep 2315,199449762030 Jun 2313,804389871031 Mar 2312,535216925031 Dec 2211,273624431030 Sep 2210,069623506030 Jun 228,505685543031 Mar 227,206841560031 Dec 216,3472451,136030 Sep 216,629741,094030 Jun 216,647231,010031 Mar 216,347-1771,018031 Dec 206,869851,013030 Sep 207,217-5061,871030 Jun 208,235-7812,076031 Mar 2010,125-2892,423031 Dec 1910,497-2512,379030 Sep 1911,226-1,5452,934030 Jun 1911,011-1,2512,680031 Mar 199,537-1,6772,277031 Dec 188,328-1,9802,262030 Sep 187,436-101829030 Jun 187,183-101852031 Mar 188,261-53895031 Dec 1710,44753954030 Sep 1712,854158935030 Jun 1715,535227939031 Mar 1717,490305884031 Dec 1620,024400847030 Sep 1621,440472834030 Jun 1622,296467852031 Mar 1622,843464877031 Dec 1521,524423870030 Sep 1520,150327869030 Jun 1518,6793578450質の高い収益: TTCLは現在利益が出ていません。利益率の向上: TTCLは現在利益が出ていません。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: TTCLは利益が出ておらず、過去 5 年間で損失は年間79.5%の割合で増加しています。成長の加速: TTCLの過去 1 年間の収益成長を 5 年間の平均と比較することはできません。現在は利益が出ていないためです。収益対業界: TTCLは利益が出ていないため、過去 1 年間の収益成長をConstruction業界 ( 52% ) と比較することは困難です。株主資本利益率高いROE: TTCLの負債は資産を上回っているため、自己資本利益率を計算することは困難です。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YCapital-goods 、過去の業績が好調な企業。View Financial Health企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/25 16:38終値2026/05/20 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋TTCL 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。5 アナリスト機関Prasit RattanakijkamolAsia Plus Securities Company LimitedChaiyatorn SricharoenBualuang Securities PCLApichat PoobunjirdkulTisco Securities Co. Ltd.2 その他のアナリストを表示
Reported Earnings • Mar 06Full year 2025 earnings released: ฿10.06 loss per share (vs ฿0.87 loss in FY 2024)Full year 2025 results: ฿10.06 loss per share (further deteriorated from ฿0.87 loss in FY 2024). Revenue: ฿7.20b (down 60% from FY 2024). Net loss: ฿6.20b (loss widened ฿5.66b from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance.
Reported Earnings • Nov 16Third quarter 2025 earnings released: ฿4.76 loss per share (vs ฿0.056 profit in 3Q 2024)Third quarter 2025 results: ฿4.76 loss per share (down from ฿0.056 profit in 3Q 2024). Revenue: ฿2.04b (down 50% from 3Q 2024). Net loss: ฿2.93b (down ฿2.96b from profit in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance.
Reported Earnings • Aug 16Second quarter 2025 earnings released: ฿2.76 loss per share (vs ฿0.001 profit in 2Q 2024)Second quarter 2025 results: ฿2.76 loss per share (down from ฿0.001 profit in 2Q 2024). Revenue: ฿1.57b (down 74% from 2Q 2024). Net loss: ฿1.70b (down ฿1.70b 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 65 percentage points per year, which is a significant difference in performance.
Reported Earnings • Mar 02Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: ฿0.87 loss per share (down from ฿0.61 profit in FY 2023). Revenue: ฿17.9b (up 5.6% from FY 2023). Net loss: ฿537.4m (down 242% from profit in FY 2023). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 32% per year, which means it has not declined as severely as earnings.
Reported Earnings • Aug 15Second quarter 2024 earnings released: EPS: ฿0.001 (vs ฿0.20 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.001 (down from ฿0.20 in 2Q 2023). Revenue: ฿6.03b (up 50% from 2Q 2023). Net income: ฿391.0k (down 100% from 2Q 2023). Profit margin: 0% (down from 3.0% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.
Reported Earnings • Mar 02Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: EPS: ฿0.61 (down from ฿1.01 in FY 2022). Revenue: ฿17.0b (up 51% from FY 2022). Net income: ฿377.7m (down 40% from FY 2022). Profit margin: 2.2% (down from 5.5% in FY 2022). Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) missed analyst estimates by 9.0%. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.
Reported Earnings • Mar 06Full year 2025 earnings released: ฿10.06 loss per share (vs ฿0.87 loss in FY 2024)Full year 2025 results: ฿10.06 loss per share (further deteriorated from ฿0.87 loss in FY 2024). Revenue: ฿7.20b (down 60% from FY 2024). Net loss: ฿6.20b (loss widened ฿5.66b from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance.
お知らせ • Mar 05TTCL Public Company Limited, Annual General Meeting, Apr 10, 2026TTCL Public Company Limited, Annual General Meeting, Apr 10, 2026, at 14:00 SE Asia Standard Time.
New Risk • Nov 16New major risk - Negative shareholders equityThe company has negative equity. Total equity: -฿2.2b This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Negative equity (-฿2.2b). Earnings have declined by 59% per year over the past 5 years. Market cap is less than US$10m (฿110.9m market cap, or US$3.42m).
Reported Earnings • Nov 16Third quarter 2025 earnings released: ฿4.76 loss per share (vs ฿0.056 profit in 3Q 2024)Third quarter 2025 results: ฿4.76 loss per share (down from ฿0.056 profit in 3Q 2024). Revenue: ฿2.04b (down 50% from 3Q 2024). Net loss: ฿2.93b (down ฿2.96b from profit in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance.
New Risk • Oct 28New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 13% 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 Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 21% per year over the past 5 years. Market cap is less than US$10m (฿271.0m market cap, or US$8.35m).
Board Change • Aug 21Less than half of directors are independentFollowing the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Director Nuttachat Charuchinda was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Aug 16Second quarter 2025 earnings released: ฿2.76 loss per share (vs ฿0.001 profit in 2Q 2024)Second quarter 2025 results: ฿2.76 loss per share (down from ฿0.001 profit in 2Q 2024). Revenue: ฿1.57b (down 74% from 2Q 2024). Net loss: ฿1.70b (down ฿1.70b 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 65 percentage points per year, which is a significant difference in performance.
New Risk • Aug 08New 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 Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (฿529.8m market cap, or US$16.4m).
New Risk • May 17New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (฿603.7m market cap, or US$18.1m).
お知らせ • Apr 13TTCL Public Company Limited Approves Omission of Dividend for the Fiscal Year 2024TTCL Public Company Limited at its AGM held on April 11, 2025, approved non-payment of dividend for the operation result for the fiscal year 2024.
Reported Earnings • Mar 02Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: ฿0.87 loss per share (down from ฿0.61 profit in FY 2023). Revenue: ฿17.9b (up 5.6% from FY 2023). Net loss: ฿537.4m (down 242% from profit in FY 2023). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 32% per year, which means it has not declined as severely as earnings.
お知らせ • Mar 01+ 2 more updatesTtcl Public Company Limited Announces Company Secretary Changes, Effective March 1, 2025TTCL Public Company Limited's Board of Directors Meeting No. 1/2568 (the "Company") held on 28th February 2025 at 10.00 hours on 28th Floor, Serm-mit Tower, 159/41-44 Sukhumvit 21, Asoke Road, Khwaeng North Klongtoey, Khet Wattana, Bangkok Metropolis, passed the following resolutions: Approved the resignation of Ms. Kantika Tanthuvanit as the Company Secretary on March 1, 2025. Approved the appointment of Ms. Jaruwan Sookthauyart as the Company Secretary, effective from March 1, 2025 onward.
Valuation Update With 7 Day Price Move • Dec 23Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ฿1.90, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 10x in the Construction industry in Thailand. Total loss to shareholders of 54% over the past three years.
Buy Or Sell Opportunity • Dec 20Now 23% undervalued after recent price dropOver the last 90 days, the stock has fallen 34% to ฿2.00. The fair value is estimated to be ฿2.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 39% over the last 3 years. Earnings per share has declined by 14%. Revenue is forecast to decline by 6.2% in a year. Earnings are forecast to grow by 89% in the next year.
お知らせ • Sep 10TTCL Public Company Limited Announces Resignation of Seiichi Itakura as DirectorTTCL Public Company Limited informed that Mr. Seiichi Itakura, Company Director has resigned from the directorship of TTCL due to his health problems, effective from September 9, 2024 onwards.
Buy Or Sell Opportunity • Aug 23Now 21% overvaluedOver the last 90 days, the stock has fallen 17% to ฿3.18. The fair value is estimated to be ฿2.62, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 41% over the last 3 years. Earnings per share has grown by 6.3%. Revenue is forecast to decline by 8.4% in a year. Earnings are forecast to grow by 45% in the next year.
Price Target Changed • Aug 23Price target decreased by 35% to ฿4.50Down from ฿6.95, the current price target is provided by 1 analyst. New target price is 44% above last closing price of ฿3.12. Stock is down 28% over the past year. The company is forecast to post earnings per share of ฿0.50 for next year compared to ฿0.61 last year.
Major Estimate Revision • Aug 23Consensus EPS estimates fall by 34%, revenue upgradedThe consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from ฿17.4b to ฿18.3b. EPS estimate fell from ฿0.76 to ฿0.50 per share. Net income forecast to grow 45% next year vs 45% growth forecast for Construction industry in Thailand. Consensus price target down from ฿6.95 to ฿4.50. Share price was steady at ฿3.12 over the past week.
Reported Earnings • Aug 15Second quarter 2024 earnings released: EPS: ฿0.001 (vs ฿0.20 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.001 (down from ฿0.20 in 2Q 2023). Revenue: ฿6.03b (up 50% from 2Q 2023). Net income: ฿391.0k (down 100% from 2Q 2023). Profit margin: 0% (down from 3.0% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.
New Risk • Jun 05New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.8x net interest cover). High level of non-cash earnings (28% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (฿2.37b market cap, or US$64.7m).
New Risk • Jun 02New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.2% Last year net profit margin: 5.5% 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: Major Risk High level of non-cash earnings (62% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (2.2% net profit margin). Market cap is less than US$100m (฿2.38b market cap, or US$64.5m).
New Risk • May 17New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.8x net interest cover). High level of non-cash earnings (28% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (฿2.33b market cap, or US$64.2m).
Upcoming Dividend • Apr 15Upcoming dividend of ฿0.10 per shareEligible shareholders must have bought the stock before 22 April 2024. Payment date: 10 May 2024. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 5.6%. Lower than top quartile of Thai dividend payers (5.8%). Higher than average of industry peers (1.8%).
お知らせ • Apr 11TTCL Public Company Limited Approves Dividend for the Second Half of Year 2023, Payable on May 10, 2024TTCL Public Company Limited announced that at its AGM held on April 11, 2024, shareholders approved the distribution of dividends to the shareholders at the rate of THB 0.10 per share, with a total of THB 61.6 million for the second half of year 2023 when combined with the interim dividend for the first half of year 2023 at THB 0.10 per share or THB 61.6 million, will be totally at THB 0.20 per share or THB 123.2 million for dividend payment for the performance of year 2023, which is equivalent to 32.64% of the net profit of the year 2023 according to the consolidated financial statement. The record date for the right to receive dividend payment is on 23rd April 2024 and the dividend payment will be made on 10th May 2024.
Reported Earnings • Mar 02Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: EPS: ฿0.61 (down from ฿1.01 in FY 2022). Revenue: ฿17.0b (up 51% from FY 2022). Net income: ฿377.7m (down 40% from FY 2022). Profit margin: 2.2% (down from 5.5% in FY 2022). Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) missed analyst estimates by 9.0%. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.
お知らせ • Mar 01+ 2 more updatesTTCL Public Company Limited, Annual General Meeting, Apr 11, 2024TTCL Public Company Limited, Annual General Meeting, Apr 11, 2024, at 14:00 SE Asia Standard Time. Location: 27th Floor, Serm-mit Tower, 159/41-44 Sukhumvit 21, Asoke RoadKhwaeng North Klongtoey, Khet Wattana Khwaeng North Klongtoey, Khet Wattana Bangkok Metropolis Thailand Agenda: To adopt Minutes of the Annual General Meeting of Shareholder held on April 12, 2023; to report on the result of the company's operation for the year 2023; to approve the Statement of Financial Position and the Statement of Comprehensive Income of the Company for the fiscal year ended December 31, 2023; to consider and approve the appropriation of profit from the operating result of 2023 in the form of dividend payment; to consider and elect new Directors in place of those to be retired by rotation; to consider and approve the Board of Directors, Audit Committee and other sub-committee remuneration for the year 2024; to consider and approve the appointment of an Auditor and Audit Fee for the year 2024; to report the issuance and offering of debenture up to the year 2023; and to consider any other matters.
Major Estimate Revision • Feb 16Consensus EPS estimates fall by 11%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from ฿0.75 to ฿0.67. Revenue forecast unchanged from ฿16.3b at last update. Net income forecast to grow 0.8% next year vs 0.8% growth forecast for Construction industry in Thailand. Consensus price target up from ฿6.80 to ฿6.94. Share price was steady at ฿3.56 over the past week.
Reported Earnings • Nov 17Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2023 results: EPS: ฿0.13 (up from ฿0.03 in 3Q 2022). Revenue: ฿4.43b (up 46% from 3Q 2022). Net income: ฿78.1m (up 323% from 3Q 2022). Profit margin: 1.8% (up from 0.6% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.6%. Earnings per share (EPS) missed analyst estimates by 32%. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Construction industry in Thailand. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Aug 21Upcoming dividend of ฿0.10 per share at 4.7% yieldEligible shareholders must have bought the stock before 28 August 2023. Payment date: 13 September 2023. Trailing yield: 4.7%. Lower than top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (2.1%).
New Risk • Aug 18New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 4.7% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). High level of non-cash earnings (22% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (2.8% net profit margin). Market cap is less than US$100m (฿2.65b market cap, or US$74.9m).
Reported Earnings • Aug 17Second quarter 2023 earnings released: EPS: ฿0.20 (vs ฿0.086 loss in 2Q 2022)Second quarter 2023 results: EPS: ฿0.20 (up from ฿0.086 loss in 2Q 2022). Revenue: ฿4.02b (up 46% from 2Q 2022). Net income: ฿120.5m (up ฿173.7m from 2Q 2022). Profit margin: 3.0% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 9.2% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Construction industry in Thailand. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.
Reported Earnings • May 18First quarter 2023 earnings released: EPS: ฿0.21 (vs ฿0.87 in 1Q 2022)First quarter 2023 results: EPS: ฿0.21 (down from ฿0.87 in 1Q 2022). Revenue: ฿3.86b (up 49% from 1Q 2022). Net income: ฿129.5m (down 76% from 1Q 2022). Profit margin: 3.4% (down from 21% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Construction industry in Thailand. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Major Estimate Revision • Mar 18Consensus EPS estimates increase by 29%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from ฿11.9b to ฿13.0b. EPS estimate increased from ฿0.65 to ฿0.84 per share. Net income forecast to shrink 17% next year vs 40% growth forecast for Construction industry in Thailand . Consensus price target up from ฿7.80 to ฿8.35. Share price fell 3.2% to ฿4.30 over the past week.
Reported Earnings • Mar 02Full year 2022 earnings released: EPS: ฿1.08 (vs ฿0.40 in FY 2021)Full year 2022 results: EPS: ฿1.08 (up from ฿0.40 in FY 2021). Revenue: ฿11.3b (up 78% from FY 2021). Net income: ฿667.4m (up 172% from FY 2021). Profit margin: 5.9% (up from 3.9% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Construction industry in Thailand. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Nov 18Third quarter 2022 earnings released: EPS: ฿0.048 (vs ฿0.14 in 3Q 2021)Third quarter 2022 results: EPS: ฿0.048 (down from ฿0.14 in 3Q 2021). Revenue: ฿3.04b (up 106% from 3Q 2021). Net income: ฿29.5m (down 65% from 3Q 2021). Profit margin: 1.0% (down from 5.7% in 3Q 2021). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Construction industry in Thailand. Over the last 3 years on average, earnings per share has increased by 122% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
Board Change • Nov 16Less than half of directors are independentThere are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Director Nuttachat Charuchinda was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.
Price Target Changed • Oct 05Price target increased to ฿7.80Up from ฿5.65, the current price target is provided by 1 analyst. New target price is 73% above last closing price of ฿4.50. Stock is up 2.3% over the past year. The company is forecast to post earnings per share of ฿1.07 for next year compared to ฿0.40 last year.
Reported Earnings • Aug 18Second quarter 2022 earnings released: ฿0.068 loss per share (vs ฿0.17 profit in 2Q 2021)Second quarter 2022 results: ฿0.068 loss per share (down from ฿0.17 profit in 2Q 2021). Revenue: ฿2.75b (up 90% from 2Q 2021). Net loss: ฿42.1m (down 141% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 14%, compared to a 19% growth forecast for the Construction industry in Thailand. Over the last 3 years on average, earnings per share has increased by 120% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings.
Reported Earnings • May 22First quarter 2022 earnings released: EPS: ฿0.87 (vs ฿0.094 loss in 1Q 2021)First quarter 2022 results: EPS: ฿0.87 (up from ฿0.094 loss in 1Q 2021). Revenue: ฿2.59b (up 50% from 1Q 2021). Net income: ฿538.0m (up ฿595.7m from 1Q 2021). Profit margin: 21% (up from net loss in 1Q 2021). Over the next year, revenue is forecast to grow 31%, compared to a 28% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.
Board Change • Apr 27Less than half of directors are independentThere are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Director Nuttachat Charuchinda was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.
Valuation Update With 7 Day Price Move • Mar 08Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to ฿4.22, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 29x in the Construction industry in Thailand. Total loss to shareholders of 38% over the past three years.
Reported Earnings • Mar 02Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2021 results: EPS: ฿0.47 (up from ฿0.27 in FY 2020). Revenue: ฿6.35b (down 7.6% from FY 2020). Net income: ฿289.1m (up 74% from FY 2020). Profit margin: 4.6% (up from 2.4% in FY 2020). Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • Feb 04Investor sentiment improved over the past weekAfter last week's 21% share price gain to ฿5.60, the stock trades at a trailing P/E ratio of 21.5x. Average trailing P/E is 28x in the Construction industry in Thailand. Total loss to shareholders of 21% over the past three years.
Reported Earnings • Nov 17Third quarter 2021 earnings released: EPS ฿0.15 (vs ฿0.13 in 3Q 2020)The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: ฿1.47b (down 1.2% from 3Q 2020). Net income: ฿91.3m (up 13% from 3Q 2020). Profit margin: 6.2% (up from 5.4% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • Sep 13Investor sentiment improved over the past weekAfter last week's 15% share price gain to ฿5.00, the stock trades at a trailing P/E ratio of 28.6x. Average trailing P/E is 28x in the Construction industry in Thailand. Total loss to shareholders of 50% over the past three years.
Valuation Update With 7 Day Price Move • Aug 23Investor sentiment improved over the past weekAfter last week's 16% share price gain to ฿4.36, the stock trades at a trailing P/E ratio of 24.9x. Average trailing P/E is 26x in the Construction industry in Thailand. Total loss to shareholders of 46% over the past three years.
Reported Earnings • Aug 18Second quarter 2021 earnings released: EPS ฿0.18 (vs ฿0.16 loss in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿1.45b (up 26% from 2Q 2020). Net income: ฿114.2m (up ฿212.1m from 2Q 2020). Profit margin: 7.9% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings.
Reported Earnings • May 21First quarter 2021 earnings released: ฿0.076 loss per share (vs ฿0.36 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: ฿1.73b (down 23% from 1Q 2020). Net loss: ฿46.9m (down 121% from profit in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • May 17Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to ฿4.86, the stock trades at a trailing P/E ratio of 18x. Average trailing P/E is 26x in the Construction industry in Thailand. Total loss to shareholders of 32% over the past three years.
Analyst Estimate Surprise Post Earnings • Mar 05Revenue and earnings beat expectationsRevenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates. Over the next year, revenue is forecast to grow 11%, compared to a 15% growth forecast for the Construction industry in Thailand.
Reported Earnings • Mar 03Full year 2020 earnings released: EPS ฿0.34 (vs ฿0.41 loss in FY 2019)The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ฿6.87b (down 35% from FY 2019). Net income: ฿210.3m (up ฿460.8m from FY 2019). Profit margin: 3.1% (up from net loss in FY 2019). The move to profitability was driven by lower expenses. 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 10% per year, which means it is performing significantly worse than earnings.
Executive Departure • Feb 16Independent Director has left the companyOn the 15th of February, Gumthorn Utarnwuthipong's tenure in the role of Independent Director ended. We don't have any record of a personal shareholding under Gumthorn's name. A total of 2 executives have left over the last 12 months.
Is New 90 Day High Low • Jan 18New 90-day high: ฿7.30The company is up 94% from its price of ฿3.76 on 20 October 2020. The Thai market is up 26% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 16% over the same period.
Is New 90 Day High Low • Dec 28New 90-day high: ฿4.88The company is up 33% from its price of ฿3.68 on 29 September 2020. The Thai market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 4.0% over the same period.
Is New 90 Day High Low • Dec 03New 90-day high: ฿4.54The company is up 32% from its price of ฿3.44 on 03 September 2020. The Thai market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is flat over the same period.
Reported Earnings • Nov 18Third quarter 2020 earnings released: EPS ฿0.15The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: ฿1.49b (down 41% from 3Q 2019). Net income: ฿91.5m (up ฿326.5m from 3Q 2019). Profit margin: 6.1% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has fallen by 40% per year, which means it is performing significantly worse than earnings.