View ValuationTrinity Watthana 将来の成長Future 基準チェック /06現在、 Trinity Watthanaの成長と収益を予測するのに十分なアナリストの調査がありません。主要情報n/a収益成長率n/aEPS成長率Capital Markets 収益成長11.0%収益成長率n/a将来の株主資本利益率n/aアナリストカバレッジNone最終更新日n/a今後の成長に関する最新情報更新なしすべての更新を表示Recent updatesNew Risk • May 23New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 20% 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 Risks Debt is not well covered by operating cash flow (20% operating cash flow to total debt). Earnings have declined by 52% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Market cap is less than US$100m (฿557.5m market cap, or US$17.1m).Reported Earnings • Mar 06Full year 2025 earnings released: ฿0.37 loss per share (vs ฿0.002 profit in FY 2024)Full year 2025 results: ฿0.37 loss per share (down from ฿0.002 profit in FY 2024). Revenue: ฿400.1m (down 21% from FY 2024). Net loss: ฿79.4m (down ฿79.9m from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings.お知らせ • Mar 03Trinity Watthana Public Company Limited, Annual General Meeting, Apr 30, 2026Trinity Watthana Public Company Limited, Annual General Meeting, Apr 30, 2026, at 14:00 SE Asia Standard Time. Location: the meeting room 22nd floor,1 park silom, convent road, silom, bangrak, bangkok 10500, bangkok ThailandNew Risk • Jan 18New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 48% per year over the past 5 years. Minor Risks High level of debt (165% net debt to equity). Share price has been volatile over the past 3 months (5.8% average weekly change). Market cap is less than US$100m (฿600.3m market cap, or US$19.1m).Reported Earnings • Nov 17Third quarter 2025 earnings released: ฿0.03 loss per share (vs ฿0.042 loss in 3Q 2024)Third quarter 2025 results: ฿0.03 loss per share (improved from ฿0.042 loss in 3Q 2024). Revenue: ฿87.9m (down 20% from 3Q 2024). Net loss: ฿6.23m (loss narrowed 31% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has fallen by 34% per year, which means it is performing significantly worse than earnings.Reported Earnings • Aug 15Second quarter 2025 earnings released: ฿0.11 loss per share (vs ฿0.003 profit in 2Q 2024)Second quarter 2025 results: ฿0.11 loss per share (down from ฿0.003 profit in 2Q 2024). Revenue: ฿76.1m (down 26% from 2Q 2024). Net loss: ฿23.1m (down ฿23.8m from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 35% per year, which means it has not declined as severely as earnings.New Risk • May 28New 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 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 41% per year over the past 5 years. Minor Risks High level of debt (174% net debt to equity). Share price has been volatile over the past 3 months (8.2% average weekly change). Market cap is less than US$100m (฿570.3m market cap, or US$17.4m).Reported Earnings • May 16First quarter 2025 earnings released: EPS: ฿0.04 (vs ฿0.07 in 1Q 2024)First quarter 2025 results: EPS: ฿0.04 (down from ฿0.07 in 1Q 2024). Revenue: ฿160.0m (up 31% from 1Q 2024). Net income: ฿7.69m (down 52% from 1Q 2024). Profit margin: 4.8% (down from 13% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 36 percentage points per year, which is a significant difference in performance.Reported Earnings • Mar 01Full year 2024 earnings released: EPS: ฿0.002 (vs ฿1.65 loss in FY 2023)Full year 2024 results: EPS: ฿0.002 (up from ฿1.65 loss in FY 2023). Revenue: ฿508.7m (up 217% from FY 2023). Net income: ฿514.3k (up ฿353.9m from FY 2023). Profit margin: 0.1% (up from net loss in FY 2023). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 43 percentage points per year, which is a significant difference in performance.お知らせ • Feb 28+ 1 more updateTrinity Watthana Public Company Limited, Annual General Meeting, Apr 25, 2025Trinity Watthana Public Company Limited, Annual General Meeting, Apr 25, 2025, at 14:00 SE Asia Standard Time. Location: the meeting room 22nd floor,1 park, silom, convent road, silom,bangrak, bangkok 10500 ThailandBuy Or Sell Opportunity • Feb 07Now 20% overvaluedOver the last 90 days, the stock has fallen 25% to ฿2.98. The fair value is estimated to be ฿2.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 49% over the last 3 years. Meanwhile, the company became loss making.お知らせ • Jan 28Trinity Watthana Public Company Limited Appoints Suwannee Limpanavongsaen as Director, Effective from February 1, 2025Trinity Watthana Public Company Limited announced that at the Board of Director's Meeting held on January 24, 2024, approved the appointment to Ms. Suwannee Limpanavongsaen to position of Director replace the resigned director. She shall serve the remaining terms entitled to the director she replaced, effective from February 1, 2025 onwards.お知らせ • Jan 03Trinity Watthana Public Company Limited Announces Resignation of Charnchai Kongthongluck as DirectorTrinity Watthana Public Company Limited informed that Mr. Charnchai Kongthongluck authorized director has resigned with effective on December 30, 2024. Currently, the Company is in the process of nominating a new director to replace him.New Risk • Dec 11New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (7.6% operating cash flow to total debt). Earnings have declined by 37% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (฿1.07b market cap, or US$31.7m).Reported Earnings • Nov 17Third quarter 2024 earnings released: ฿0.042 loss per share (vs ฿0.35 loss in 3Q 2023)Third quarter 2024 results: ฿0.042 loss per share (improved from ฿0.35 loss in 3Q 2023). Net loss: ฿9.02m (loss narrowed 88% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance.Reported Earnings • Aug 15Second quarter 2024 earnings released: EPS: ฿0.003 (vs ฿1.12 loss in 2Q 2023)Second quarter 2024 results: EPS: ฿0.003 (up from ฿1.12 loss in 2Q 2023). Revenue: ฿103.0m (up 143% from 2Q 2023). Net income: ฿631.0k (up ฿239.8m from 2Q 2023). Profit margin: 0.6% (up from net loss in 2Q 2023). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance.Buy Or Sell Opportunity • Jun 17Now 23% undervalued after recent price dropOver the last 90 days, the stock has fallen 5.8% to ฿4.26. The fair value is estimated to be ฿5.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 43% over the last 3 years. Meanwhile, the company became loss making.Reported Earnings • May 16First quarter 2024 earnings released: EPS: ฿0.07 (vs ฿0.11 loss in 1Q 2023)First quarter 2024 results: EPS: ฿0.07 (up from ฿0.11 loss in 1Q 2023). Net income: ฿15.9m (up ฿39.0m from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance.Buy Or Sell Opportunity • Apr 30Now 21% undervaluedOver the last 90 days, the stock has risen 10% to ฿4.38. The fair value is estimated to be ฿5.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 31% over the last 3 years. Meanwhile, the company became loss making.お知らせ • Apr 27Trinity Watthana Public Company Limited Announces Board and Committee ResignationsTrinity Watthana Public Company Limited would like to inform that Mr. Abhichart Arbhabhirama Independent Director/Chairman of the Audit Committee/Member of Nomination & Remuneration Committee of the company has resigned with effective on April 25, 2024 due to health problem. Mr. Kampanart Lohacharoenvanich has completed his term as an Independent Director and Audit Committee member on April 25, 2024 and does not wish to renew his term as a director. Currently, the Company is in the process of nominating new Audit Committee members to replace both directors.Buy Or Sell Opportunity • Mar 27Now 20% undervaluedOver the last 90 days, the stock has risen 11% to ฿4.42. The fair value is estimated to be ฿5.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 31% over the last 3 years. Meanwhile, the company became loss making.お知らせ • Mar 05+ 1 more updateTrinity Watthana Public Company Limited Announces Chief Executive Officer ChangesTrinity Watthana Public Company Limited that the Board of Directors meeting held on February 29, 2024, has passed the following resolutions: Acknowledge that Mr. Charnchai Kongthongluck, Chief Executive Officer, will be retired effective from April 1, 2024, and appoint Mr. Charnchai Kongthongluck to be the Advisor to CEO. Appoint Dr. Visit Ongpipatanakul as Chief Executive Officer (CEO) in replacement of Mr. Charnchai Kongthongluck.Reported Earnings • Mar 02Full year 2023 earnings released: ฿1.65 loss per share (vs ฿0.83 profit in FY 2022)Full year 2023 results: ฿1.65 loss per share (down from ฿0.83 profit in FY 2022). Net loss: ฿353.4m (down 298% from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance.お知らせ • Mar 02Trinity Watthana Public Company Limited, Annual General Meeting, Apr 25, 2024Trinity Watthana Public Company Limited, Annual General Meeting, Apr 25, 2024, at 14:00 SE Asia Standard Time. Location: the AN AN Meeting room, Basement Floor, Montien Hotel, Surawong Road, Silom SubDistrict, Bangrak District, Bangkok Thailand Agenda: To consider and adopt the minutes of the Annual General Meeting of Shareholders No. 21; To consider and acknowledge the company's operating results for the year ended December 31, 2023; To consider and approve the audited financial position and income statements for the year ended December 31, 2023; To consider and approve no legal reserve and no dividend for the year 2023; To consider and appoint new directors to replace the retiring directors and approve directors' remuneration; and to discuss other matters.お知らせ • Mar 01Trinity Watthana Public Company Limited Announces Retirement of Board MembersTrinity Watthana Public Company Limited announced retirement of Mr. Kampanart Lohacharoenvanich and Mr. Sorayouth Prompoj as directors.Reported Earnings • Nov 16Third quarter 2023 earnings released: ฿1.57 loss per share (vs ฿0.17 profit in 3Q 2022)Third quarter 2023 results: ฿1.57 loss per share (down from ฿0.17 profit in 3Q 2022). Net loss: ฿74.2m (down 303% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings.New Risk • Nov 02New 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 8.6% 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 Debt is not well covered by operating cash flow (5.0% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (8.6% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 101% Cash payout ratio: 123% Minor Risk Market cap is less than US$100m (฿1.19b market cap, or US$33.2m).New Risk • Aug 19New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.3% 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 Risks Debt is not well covered by operating cash flow (5.0% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 101% Cash payout ratio: 123% Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (฿1.15b market cap, or US$32.4m).Reported Earnings • Aug 17Second quarter 2023 earnings released: ฿1.12 loss per share (vs ฿0.13 profit in 2Q 2022)Second quarter 2023 results: ฿1.12 loss per share (down from ฿0.13 profit in 2Q 2022). Revenue: ฿42.3m (down 74% from 2Q 2022). Net loss: ฿239.2m (down ฿266.0m from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Jul 24Investor sentiment improves as stock rises 15%After last week's 15% share price gain to ฿4.70, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 13x in the Capital Markets industry in Thailand. Total returns to shareholders of 49% over the past three years.お知らせ • Jun 29Trinity Watthana Public Company Limited Announces Demise of Dr. Panja Senadisai, Independent DirectorTrinity Watthana Public Company Limited announces demise of Dr. Panja Senadisai, Independent Director and member of the Audit Committee, Chairman of the Nomination and Remuneration Committee on June 26, 2023.Reported Earnings • May 13First quarter 2023 earnings released: ฿0.11 loss per share (vs ฿0.26 profit in 1Q 2022)First quarter 2023 results: ฿0.11 loss per share (down from ฿0.26 profit in 1Q 2022). Revenue: ฿56.0m (down 72% from 1Q 2022). Net loss: ฿23.2m (down 141% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Apr 27Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to ฿5.10, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 12x in the Capital Markets industry in Thailand. Total returns to shareholders of 76% over the past three years.Reported Earnings • Nov 19Third quarter 2022 earnings released: EPS: ฿0.17 (vs ฿0.30 in 3Q 2021)Third quarter 2022 results: EPS: ฿0.17 (down from ฿0.30 in 3Q 2021). Revenue: ฿175.5m (down 23% from 3Q 2021). Net income: ฿36.6m (down 44% from 3Q 2021). Profit margin: 21% (down from 28% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.Board Change • Nov 16Less 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 Sorayouth Prompoj was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Upcoming Dividend • Aug 19Upcoming dividend of ฿0.17 per shareEligible shareholders must have bought the stock before 26 August 2022. Payment date: 09 September 2022. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 9.4%. Within top quartile of Thai dividend payers (5.4%). Higher than average of industry peers (4.5%).Reported Earnings • Aug 14Second quarter 2022 earnings released: EPS: ฿0.13 (vs ฿0.20 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.13 (down from ฿0.20 in 2Q 2021). Revenue: ฿161.6m (down 20% from 2Q 2021). Net income: ฿26.8m (down 37% from 2Q 2021). Profit margin: 17% (down from 21% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth.Reported Earnings • May 16First quarter 2022 earnings released: EPS: ฿0.26 (vs ฿0.33 in 1Q 2021)First quarter 2022 results: EPS: ฿0.26 (down from ฿0.33 in 1Q 2021). Revenue: ฿203.1m (down 10% from 1Q 2021). Net income: ฿56.8m (down 15% from 1Q 2021). Profit margin: 28% (down from 30% in 1Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • May 09Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to ฿8.75, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 9x in the Capital Markets industry in Thailand. Total returns to shareholders of 139% over the past three years.Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 6 highly experienced directors. 5 independent directors (6 non-independent directors). Independent Director Sorayouth Prompoj was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Upcoming Dividend • Mar 18Upcoming dividend of ฿0.75 per shareEligible shareholders must have bought the stock before 25 March 2022. Payment date: 18 May 2022. Payout ratio is on the higher end at 84%, however this is supported by cash flows. Trailing yield: 7.4%. Within top quartile of Thai dividend payers (5.2%). Higher than average of industry peers (4.1%).Reported Earnings • Mar 03Full year 2021 earnings: EPS misses analyst expectationsFull year 2021 results: EPS: ฿1.18 (up from ฿0.66 in FY 2020). Revenue: ฿906.3m (up 39% from FY 2020). Net income: ฿250.1m (up 92% from FY 2020). Profit margin: 28% (up from 20% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 17%. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Jan 28Investor sentiment deteriorated over the past weekAfter last week's 18% share price decline to ฿13.70, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 11x in the Capital Markets industry in Thailand. Total returns to shareholders of 215% over the past three years.Valuation Update With 7 Day Price Move • Jan 06Investor sentiment improved over the past weekAfter last week's 17% share price gain to ฿10.50, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 11x in the Capital Markets industry in Thailand. Total returns to shareholders of 142% over the past three years.Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS ฿0.30 (vs ฿0.019 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿227.1m (up 107% from 3Q 2020). Net income: ฿64.7m (up ฿61.0m from 3Q 2020). Profit margin: 28% (up from 3.4% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Aug 20Upcoming dividend of ฿0.25 per shareEligible shareholders must have bought the stock before 27 August 2021. Payment date: 10 September 2021. Trailing yield: 7.2%. Within top quartile of Thai dividend payers (5.0%). Higher than average of industry peers (3.8%).Reported Earnings • Aug 18Second quarter 2021 earnings released: EPS ฿0.20 (vs ฿0.48 in 2Q 2020)The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿201.9m (down 5.2% from 2Q 2020). Net income: ฿42.3m (down 55% from 2Q 2020). Profit margin: 21% (down from 45% in 2Q 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Jun 05Investor sentiment improved over the past weekAfter last week's 18% share price gain to ฿8.10, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 13x in the Capital Markets industry in Thailand. Total returns to shareholders of 74% over the past three years.Reported Earnings • May 17First quarter 2021 earnings released: EPS ฿0.33 (vs ฿0.53 loss in 1Q 2020)The company reported a soft first quarter result with weaker revenues and profit margins, although earnings were improved. First quarter 2021 results: Revenue: ฿226.3m (down 1,259% from 1Q 2020). Net income: ฿66.7m (up ฿172.3m from 1Q 2020). Profit margin: 30% (down from 541% in 1Q 2020). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • May 10Investor sentiment improved over the past weekAfter last week's 19% share price gain to ฿7.65, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 14x in the Capital Markets industry in Thailand. Total returns to shareholders of 63% over the past three years.Valuation Update With 7 Day Price Move • Apr 07Investor sentiment deteriorated over the past weekAfter last week's 19% share price decline to ฿5.50, the stock trades at a trailing P/E ratio of 8.4x. Average trailing P/E is 14x in the Capital Markets industry in Thailand. Total returns to shareholders of 21% over the past three years.Upcoming Dividend • Mar 25Upcoming dividend of ฿0.50 per shareEligible shareholders must have bought the stock before 01 April 2021. Payment date: 11 May 2021. Trailing yield: 7.5%. Within top quartile of Thai dividend payers (5.0%). Higher than average of industry peers (4.6%).Valuation Update With 7 Day Price Move • Mar 04Investor sentiment improved over the past weekAfter last week's 17% share price gain to ฿5.25, the stock is trading at a trailing P/E ratio of 8.1x, up from the previous P/E ratio of 6.9x. This compares to an average P/E of 13x in the Capital Markets industry in Thailand. Total return to shareholders over the past three years is a loss of 2.4%.Reported Earnings • Feb 28Full year 2020 earnings released: EPS ฿0.65 (vs ฿0.47 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿652.3m (up 7.0% from FY 2019). Net income: ฿130.4m (up 39% from FY 2019). Profit margin: 20% (up from 16% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.Is New 90 Day High Low • Feb 17New 90-day high: ฿4.42The company is up 22% from its price of ฿3.62 on 19 November 2020. The Thai market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 12% over the same period.Is New 90 Day High Low • Jan 05New 90-day high: ฿4.18The company is up 14% from its price of ฿3.68 on 07 October 2020. The Thai market is up 16% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Capital Markets industry, which is up 10.0% over the same period.Is New 90 Day High Low • Dec 16New 90-day high: ฿3.80The company is up 3.0% from its price of ฿3.68 on 16 September 2020. The Thai market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 10.0% over the same period.Reported Earnings • Nov 15Third quarter 2020 earnings released: EPS ฿0.019The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: ฿109.7m (up 12% from 3Q 2019). Net income: ฿3.70m (down 35% from 3Q 2019). Profit margin: 3.4% (down from 5.8% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings.Is New 90 Day High Low • Oct 28New 90-day low: ฿3.52The company is down 7.0% from its price of ฿3.80 on 30 July 2020. The Thai market is down 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is down 17% over the same period.Is New 90 Day High Low • Sep 28New 90-day low: ฿3.54The company is down 6.0% from its price of ฿3.76 on 30 June 2020. The Thai market is also down 6.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Capital Markets industry, which is down 17% over the same period. このセクションでは通常、投資家が会社の利益創出能力を理解する一助となるよう、プロのアナリストのコンセンサス予想に基づく収益と利益の成長予測を提示する。しかし、Trinity Watthana は十分な過去のデータを提供しておらず、アナリストの予測もないため、過去のデータを外挿したり、アナリストの予測を使用しても、その将来の収益を確実に算出することはできません。 シンプリー・ウォール・ストリートがカバーする企業の97%は過去の財務データを持っているため、これはかなり稀な状況です。 業績と収益の成長予測SET:TNITY - アナリストの将来予測と過去の財務データ ( )THB Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数3/31/2026410-83443453N/A12/31/2025400-79485496N/A9/30/2025471-29603621N/A6/30/2025493-31391409N/A3/31/2025520-8545566N/A12/31/20245091725755N/A9/30/2024402-9469506N/A6/30/2024288-75775838N/A3/31/2024227-314749820N/A12/31/2023161-353296354N/A9/30/2023253-278372417N/A6/30/2023433-168161180N/A3/31/202355398154162N/A12/31/2022700178318326N/A9/30/2022791197337344N/A6/30/2022843225330337N/A3/31/2022883240317323N/A12/31/2021906250229237N/A9/30/20211,004311108120N/A6/30/20218872508191N/A3/31/2021898303236247N/A12/31/2020652130146156N/A9/30/202057663-121-112N/A6/30/202056468-48N/A3/31/2020485-10-405-391N/A12/31/201961097N/A-137N/A9/30/201949047N/A-181N/A6/30/201952952N/A-402N/A3/31/201951745N/A3N/A12/31/201858168N/A20N/A9/30/201857991N/A864N/A6/30/201859699N/A701N/A3/31/201859320N/A1,035N/A12/31/201759128N/A344N/A9/30/201762933N/A216N/A6/30/201767655N/A449N/A3/31/2017726158N/A-586N/A12/31/2016729160N/A-74N/A9/30/2016691147N/A-303N/A6/30/2016666144N/A-559N/A3/31/2016636130N/A172N/A12/31/2015675146N/A12N/A9/30/2015735180N/A33N/A6/30/2015799204N/A722N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: TNITYの予測収益成長が 貯蓄率 ( 2.2% ) を上回っているかどうかを判断するにはデータが不十分です。収益対市場: TNITYの収益がTH市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です高成長収益: TNITYの収益が今後 3 年間で 大幅に 増加すると予想されるかどうかを判断するにはデータが不十分です。収益対市場: TNITYの収益がTH市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です。高い収益成長: TNITYの収益が年間20%よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です。一株当たり利益成長率予想将来の株主資本利益率将来のROE: TNITYの 自己資本利益率 が 3 年後に高くなると予測されるかどうかを判断するにはデータが不十分です成長企業の発掘7D1Y7D1Y7D1YDiversified-financials 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/27 05:42終値2026/05/27 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Trinity Watthana 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。0
New Risk • May 23New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 20% 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 Risks Debt is not well covered by operating cash flow (20% operating cash flow to total debt). Earnings have declined by 52% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Market cap is less than US$100m (฿557.5m market cap, or US$17.1m).
Reported Earnings • Mar 06Full year 2025 earnings released: ฿0.37 loss per share (vs ฿0.002 profit in FY 2024)Full year 2025 results: ฿0.37 loss per share (down from ฿0.002 profit in FY 2024). Revenue: ฿400.1m (down 21% from FY 2024). Net loss: ฿79.4m (down ฿79.9m from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings.
お知らせ • Mar 03Trinity Watthana Public Company Limited, Annual General Meeting, Apr 30, 2026Trinity Watthana Public Company Limited, Annual General Meeting, Apr 30, 2026, at 14:00 SE Asia Standard Time. Location: the meeting room 22nd floor,1 park silom, convent road, silom, bangrak, bangkok 10500, bangkok Thailand
New Risk • Jan 18New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 48% per year over the past 5 years. Minor Risks High level of debt (165% net debt to equity). Share price has been volatile over the past 3 months (5.8% average weekly change). Market cap is less than US$100m (฿600.3m market cap, or US$19.1m).
Reported Earnings • Nov 17Third quarter 2025 earnings released: ฿0.03 loss per share (vs ฿0.042 loss in 3Q 2024)Third quarter 2025 results: ฿0.03 loss per share (improved from ฿0.042 loss in 3Q 2024). Revenue: ฿87.9m (down 20% from 3Q 2024). Net loss: ฿6.23m (loss narrowed 31% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has fallen by 34% per year, which means it is performing significantly worse than earnings.
Reported Earnings • Aug 15Second quarter 2025 earnings released: ฿0.11 loss per share (vs ฿0.003 profit in 2Q 2024)Second quarter 2025 results: ฿0.11 loss per share (down from ฿0.003 profit in 2Q 2024). Revenue: ฿76.1m (down 26% from 2Q 2024). Net loss: ฿23.1m (down ฿23.8m from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 35% per year, which means it has not declined as severely as earnings.
New Risk • May 28New 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 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 41% per year over the past 5 years. Minor Risks High level of debt (174% net debt to equity). Share price has been volatile over the past 3 months (8.2% average weekly change). Market cap is less than US$100m (฿570.3m market cap, or US$17.4m).
Reported Earnings • May 16First quarter 2025 earnings released: EPS: ฿0.04 (vs ฿0.07 in 1Q 2024)First quarter 2025 results: EPS: ฿0.04 (down from ฿0.07 in 1Q 2024). Revenue: ฿160.0m (up 31% from 1Q 2024). Net income: ฿7.69m (down 52% from 1Q 2024). Profit margin: 4.8% (down from 13% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 36 percentage points per year, which is a significant difference in performance.
Reported Earnings • Mar 01Full year 2024 earnings released: EPS: ฿0.002 (vs ฿1.65 loss in FY 2023)Full year 2024 results: EPS: ฿0.002 (up from ฿1.65 loss in FY 2023). Revenue: ฿508.7m (up 217% from FY 2023). Net income: ฿514.3k (up ฿353.9m from FY 2023). Profit margin: 0.1% (up from net loss in FY 2023). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 43 percentage points per year, which is a significant difference in performance.
お知らせ • Feb 28+ 1 more updateTrinity Watthana Public Company Limited, Annual General Meeting, Apr 25, 2025Trinity Watthana Public Company Limited, Annual General Meeting, Apr 25, 2025, at 14:00 SE Asia Standard Time. Location: the meeting room 22nd floor,1 park, silom, convent road, silom,bangrak, bangkok 10500 Thailand
Buy Or Sell Opportunity • Feb 07Now 20% overvaluedOver the last 90 days, the stock has fallen 25% to ฿2.98. The fair value is estimated to be ฿2.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 49% over the last 3 years. Meanwhile, the company became loss making.
お知らせ • Jan 28Trinity Watthana Public Company Limited Appoints Suwannee Limpanavongsaen as Director, Effective from February 1, 2025Trinity Watthana Public Company Limited announced that at the Board of Director's Meeting held on January 24, 2024, approved the appointment to Ms. Suwannee Limpanavongsaen to position of Director replace the resigned director. She shall serve the remaining terms entitled to the director she replaced, effective from February 1, 2025 onwards.
お知らせ • Jan 03Trinity Watthana Public Company Limited Announces Resignation of Charnchai Kongthongluck as DirectorTrinity Watthana Public Company Limited informed that Mr. Charnchai Kongthongluck authorized director has resigned with effective on December 30, 2024. Currently, the Company is in the process of nominating a new director to replace him.
New Risk • Dec 11New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (7.6% operating cash flow to total debt). Earnings have declined by 37% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (฿1.07b market cap, or US$31.7m).
Reported Earnings • Nov 17Third quarter 2024 earnings released: ฿0.042 loss per share (vs ฿0.35 loss in 3Q 2023)Third quarter 2024 results: ฿0.042 loss per share (improved from ฿0.35 loss in 3Q 2023). Net loss: ฿9.02m (loss narrowed 88% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance.
Reported Earnings • Aug 15Second quarter 2024 earnings released: EPS: ฿0.003 (vs ฿1.12 loss in 2Q 2023)Second quarter 2024 results: EPS: ฿0.003 (up from ฿1.12 loss in 2Q 2023). Revenue: ฿103.0m (up 143% from 2Q 2023). Net income: ฿631.0k (up ฿239.8m from 2Q 2023). Profit margin: 0.6% (up from net loss in 2Q 2023). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance.
Buy Or Sell Opportunity • Jun 17Now 23% undervalued after recent price dropOver the last 90 days, the stock has fallen 5.8% to ฿4.26. The fair value is estimated to be ฿5.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 43% over the last 3 years. Meanwhile, the company became loss making.
Reported Earnings • May 16First quarter 2024 earnings released: EPS: ฿0.07 (vs ฿0.11 loss in 1Q 2023)First quarter 2024 results: EPS: ฿0.07 (up from ฿0.11 loss in 1Q 2023). Net income: ฿15.9m (up ฿39.0m from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance.
Buy Or Sell Opportunity • Apr 30Now 21% undervaluedOver the last 90 days, the stock has risen 10% to ฿4.38. The fair value is estimated to be ฿5.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 31% over the last 3 years. Meanwhile, the company became loss making.
お知らせ • Apr 27Trinity Watthana Public Company Limited Announces Board and Committee ResignationsTrinity Watthana Public Company Limited would like to inform that Mr. Abhichart Arbhabhirama Independent Director/Chairman of the Audit Committee/Member of Nomination & Remuneration Committee of the company has resigned with effective on April 25, 2024 due to health problem. Mr. Kampanart Lohacharoenvanich has completed his term as an Independent Director and Audit Committee member on April 25, 2024 and does not wish to renew his term as a director. Currently, the Company is in the process of nominating new Audit Committee members to replace both directors.
Buy Or Sell Opportunity • Mar 27Now 20% undervaluedOver the last 90 days, the stock has risen 11% to ฿4.42. The fair value is estimated to be ฿5.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 31% over the last 3 years. Meanwhile, the company became loss making.
お知らせ • Mar 05+ 1 more updateTrinity Watthana Public Company Limited Announces Chief Executive Officer ChangesTrinity Watthana Public Company Limited that the Board of Directors meeting held on February 29, 2024, has passed the following resolutions: Acknowledge that Mr. Charnchai Kongthongluck, Chief Executive Officer, will be retired effective from April 1, 2024, and appoint Mr. Charnchai Kongthongluck to be the Advisor to CEO. Appoint Dr. Visit Ongpipatanakul as Chief Executive Officer (CEO) in replacement of Mr. Charnchai Kongthongluck.
Reported Earnings • Mar 02Full year 2023 earnings released: ฿1.65 loss per share (vs ฿0.83 profit in FY 2022)Full year 2023 results: ฿1.65 loss per share (down from ฿0.83 profit in FY 2022). Net loss: ฿353.4m (down 298% from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance.
お知らせ • Mar 02Trinity Watthana Public Company Limited, Annual General Meeting, Apr 25, 2024Trinity Watthana Public Company Limited, Annual General Meeting, Apr 25, 2024, at 14:00 SE Asia Standard Time. Location: the AN AN Meeting room, Basement Floor, Montien Hotel, Surawong Road, Silom SubDistrict, Bangrak District, Bangkok Thailand Agenda: To consider and adopt the minutes of the Annual General Meeting of Shareholders No. 21; To consider and acknowledge the company's operating results for the year ended December 31, 2023; To consider and approve the audited financial position and income statements for the year ended December 31, 2023; To consider and approve no legal reserve and no dividend for the year 2023; To consider and appoint new directors to replace the retiring directors and approve directors' remuneration; and to discuss other matters.
お知らせ • Mar 01Trinity Watthana Public Company Limited Announces Retirement of Board MembersTrinity Watthana Public Company Limited announced retirement of Mr. Kampanart Lohacharoenvanich and Mr. Sorayouth Prompoj as directors.
Reported Earnings • Nov 16Third quarter 2023 earnings released: ฿1.57 loss per share (vs ฿0.17 profit in 3Q 2022)Third quarter 2023 results: ฿1.57 loss per share (down from ฿0.17 profit in 3Q 2022). Net loss: ฿74.2m (down 303% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings.
New Risk • Nov 02New 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 8.6% 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 Debt is not well covered by operating cash flow (5.0% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (8.6% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 101% Cash payout ratio: 123% Minor Risk Market cap is less than US$100m (฿1.19b market cap, or US$33.2m).
New Risk • Aug 19New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.3% 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 Risks Debt is not well covered by operating cash flow (5.0% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 101% Cash payout ratio: 123% Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (฿1.15b market cap, or US$32.4m).
Reported Earnings • Aug 17Second quarter 2023 earnings released: ฿1.12 loss per share (vs ฿0.13 profit in 2Q 2022)Second quarter 2023 results: ฿1.12 loss per share (down from ฿0.13 profit in 2Q 2022). Revenue: ฿42.3m (down 74% from 2Q 2022). Net loss: ฿239.2m (down ฿266.0m from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Jul 24Investor sentiment improves as stock rises 15%After last week's 15% share price gain to ฿4.70, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 13x in the Capital Markets industry in Thailand. Total returns to shareholders of 49% over the past three years.
お知らせ • Jun 29Trinity Watthana Public Company Limited Announces Demise of Dr. Panja Senadisai, Independent DirectorTrinity Watthana Public Company Limited announces demise of Dr. Panja Senadisai, Independent Director and member of the Audit Committee, Chairman of the Nomination and Remuneration Committee on June 26, 2023.
Reported Earnings • May 13First quarter 2023 earnings released: ฿0.11 loss per share (vs ฿0.26 profit in 1Q 2022)First quarter 2023 results: ฿0.11 loss per share (down from ฿0.26 profit in 1Q 2022). Revenue: ฿56.0m (down 72% from 1Q 2022). Net loss: ฿23.2m (down 141% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Apr 27Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to ฿5.10, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 12x in the Capital Markets industry in Thailand. Total returns to shareholders of 76% over the past three years.
Reported Earnings • Nov 19Third quarter 2022 earnings released: EPS: ฿0.17 (vs ฿0.30 in 3Q 2021)Third quarter 2022 results: EPS: ฿0.17 (down from ฿0.30 in 3Q 2021). Revenue: ฿175.5m (down 23% from 3Q 2021). Net income: ฿36.6m (down 44% from 3Q 2021). Profit margin: 21% (down from 28% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.
Board Change • Nov 16Less 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 Sorayouth Prompoj was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Upcoming Dividend • Aug 19Upcoming dividend of ฿0.17 per shareEligible shareholders must have bought the stock before 26 August 2022. Payment date: 09 September 2022. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 9.4%. Within top quartile of Thai dividend payers (5.4%). Higher than average of industry peers (4.5%).
Reported Earnings • Aug 14Second quarter 2022 earnings released: EPS: ฿0.13 (vs ฿0.20 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.13 (down from ฿0.20 in 2Q 2021). Revenue: ฿161.6m (down 20% from 2Q 2021). Net income: ฿26.8m (down 37% from 2Q 2021). Profit margin: 17% (down from 21% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth.
Reported Earnings • May 16First quarter 2022 earnings released: EPS: ฿0.26 (vs ฿0.33 in 1Q 2021)First quarter 2022 results: EPS: ฿0.26 (down from ฿0.33 in 1Q 2021). Revenue: ฿203.1m (down 10% from 1Q 2021). Net income: ฿56.8m (down 15% from 1Q 2021). Profit margin: 28% (down from 30% in 1Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • May 09Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to ฿8.75, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 9x in the Capital Markets industry in Thailand. Total returns to shareholders of 139% over the past three years.
Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 6 highly experienced directors. 5 independent directors (6 non-independent directors). Independent Director Sorayouth Prompoj was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Upcoming Dividend • Mar 18Upcoming dividend of ฿0.75 per shareEligible shareholders must have bought the stock before 25 March 2022. Payment date: 18 May 2022. Payout ratio is on the higher end at 84%, however this is supported by cash flows. Trailing yield: 7.4%. Within top quartile of Thai dividend payers (5.2%). Higher than average of industry peers (4.1%).
Reported Earnings • Mar 03Full year 2021 earnings: EPS misses analyst expectationsFull year 2021 results: EPS: ฿1.18 (up from ฿0.66 in FY 2020). Revenue: ฿906.3m (up 39% from FY 2020). Net income: ฿250.1m (up 92% from FY 2020). Profit margin: 28% (up from 20% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 17%. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Jan 28Investor sentiment deteriorated over the past weekAfter last week's 18% share price decline to ฿13.70, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 11x in the Capital Markets industry in Thailand. Total returns to shareholders of 215% over the past three years.
Valuation Update With 7 Day Price Move • Jan 06Investor sentiment improved over the past weekAfter last week's 17% share price gain to ฿10.50, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 11x in the Capital Markets industry in Thailand. Total returns to shareholders of 142% over the past three years.
Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS ฿0.30 (vs ฿0.019 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿227.1m (up 107% from 3Q 2020). Net income: ฿64.7m (up ฿61.0m from 3Q 2020). Profit margin: 28% (up from 3.4% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Aug 20Upcoming dividend of ฿0.25 per shareEligible shareholders must have bought the stock before 27 August 2021. Payment date: 10 September 2021. Trailing yield: 7.2%. Within top quartile of Thai dividend payers (5.0%). Higher than average of industry peers (3.8%).
Reported Earnings • Aug 18Second quarter 2021 earnings released: EPS ฿0.20 (vs ฿0.48 in 2Q 2020)The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿201.9m (down 5.2% from 2Q 2020). Net income: ฿42.3m (down 55% from 2Q 2020). Profit margin: 21% (down from 45% in 2Q 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Jun 05Investor sentiment improved over the past weekAfter last week's 18% share price gain to ฿8.10, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 13x in the Capital Markets industry in Thailand. Total returns to shareholders of 74% over the past three years.
Reported Earnings • May 17First quarter 2021 earnings released: EPS ฿0.33 (vs ฿0.53 loss in 1Q 2020)The company reported a soft first quarter result with weaker revenues and profit margins, although earnings were improved. First quarter 2021 results: Revenue: ฿226.3m (down 1,259% from 1Q 2020). Net income: ฿66.7m (up ฿172.3m from 1Q 2020). Profit margin: 30% (down from 541% in 1Q 2020). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • May 10Investor sentiment improved over the past weekAfter last week's 19% share price gain to ฿7.65, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 14x in the Capital Markets industry in Thailand. Total returns to shareholders of 63% over the past three years.
Valuation Update With 7 Day Price Move • Apr 07Investor sentiment deteriorated over the past weekAfter last week's 19% share price decline to ฿5.50, the stock trades at a trailing P/E ratio of 8.4x. Average trailing P/E is 14x in the Capital Markets industry in Thailand. Total returns to shareholders of 21% over the past three years.
Upcoming Dividend • Mar 25Upcoming dividend of ฿0.50 per shareEligible shareholders must have bought the stock before 01 April 2021. Payment date: 11 May 2021. Trailing yield: 7.5%. Within top quartile of Thai dividend payers (5.0%). Higher than average of industry peers (4.6%).
Valuation Update With 7 Day Price Move • Mar 04Investor sentiment improved over the past weekAfter last week's 17% share price gain to ฿5.25, the stock is trading at a trailing P/E ratio of 8.1x, up from the previous P/E ratio of 6.9x. This compares to an average P/E of 13x in the Capital Markets industry in Thailand. Total return to shareholders over the past three years is a loss of 2.4%.
Reported Earnings • Feb 28Full year 2020 earnings released: EPS ฿0.65 (vs ฿0.47 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿652.3m (up 7.0% from FY 2019). Net income: ฿130.4m (up 39% from FY 2019). Profit margin: 20% (up from 16% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.
Is New 90 Day High Low • Feb 17New 90-day high: ฿4.42The company is up 22% from its price of ฿3.62 on 19 November 2020. The Thai market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 12% over the same period.
Is New 90 Day High Low • Jan 05New 90-day high: ฿4.18The company is up 14% from its price of ฿3.68 on 07 October 2020. The Thai market is up 16% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Capital Markets industry, which is up 10.0% over the same period.
Is New 90 Day High Low • Dec 16New 90-day high: ฿3.80The company is up 3.0% from its price of ฿3.68 on 16 September 2020. The Thai market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 10.0% over the same period.
Reported Earnings • Nov 15Third quarter 2020 earnings released: EPS ฿0.019The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: ฿109.7m (up 12% from 3Q 2019). Net income: ฿3.70m (down 35% from 3Q 2019). Profit margin: 3.4% (down from 5.8% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings.
Is New 90 Day High Low • Oct 28New 90-day low: ฿3.52The company is down 7.0% from its price of ฿3.80 on 30 July 2020. The Thai market is down 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is down 17% over the same period.
Is New 90 Day High Low • Sep 28New 90-day low: ฿3.54The company is down 6.0% from its price of ฿3.76 on 30 June 2020. The Thai market is also down 6.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Capital Markets industry, which is down 17% over the same period.