View ValuationMaster Style 将来の成長Future 基準チェック /26Master Style利益と収益がそれぞれ年間10.3%と3.7%増加すると予測されています。EPS は年間 増加すると予想されています。自己資本利益率は 3 年後に7.6% 10.4%なると予測されています。主要情報10.3%収益成長率10.36%EPS成長率Healthcare 収益成長5.9%収益成長率3.7%将来の株主資本利益率7.60%アナリストカバレッジLow最終更新日20 May 2026今後の成長に関する最新情報Price Target Changed • Mar 19Price target increased by 12% to ฿11.50Up from ฿10.30, the current price target is an average from 3 analysts. New target price is 31% above last closing price of ฿8.75. Stock is down 69% over the past year. The company is forecast to post earnings per share of ฿0.73 for next year compared to ฿0.66 last year.Major Estimate Revision • Feb 28Consensus EPS estimates fall by 15%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from ฿0.855 to ฿0.73. Revenue forecast unchanged from ฿1.93b at last update. Net income forecast to shrink 43% next year vs 9.4% growth forecast for Healthcare industry in Thailand . Consensus price target up from ฿10.30 to ฿10.88. Share price fell 2.7% to ฿11.00 over the past week.Price Target Changed • Dec 13Price target decreased by 15% to ฿10.30Down from ฿12.13, the current price target is an average from 4 analysts. New target price is 18% above last closing price of ฿8.75. Stock is down 81% over the past year. The company is forecast to post earnings per share of ฿0.66 for next year compared to ฿1.73 last year.Major Estimate Revision • Aug 19Consensus EPS estimates fall by 15%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ฿2.12b to ฿2.06b. EPS estimate also fell from ฿1.16 per share to ฿0.983 per share. Net income forecast to shrink 22% next year vs 6.1% growth forecast for Healthcare industry in Thailand . Consensus price target up from ฿13.05 to ฿13.55. Share price fell 12% to ฿12.70 over the past week.Price Target Changed • Jul 17Price target decreased by 35% to ฿17.49Down from ฿26.79, the current price target is an average from 4 analysts. New target price is 26% above last closing price of ฿13.90. Stock is down 76% over the past year. The company is forecast to post earnings per share of ฿1.30 for next year compared to ฿1.73 last year.Price Target Changed • May 05Price target decreased by 7.2% to ฿36.75Down from ฿39.60, the current price target is an average from 5 analysts. New target price is 78% above last closing price of ฿20.60. Stock is down 65% over the past year. The company is forecast to post earnings per share of ฿1.84 for next year compared to ฿1.73 last year.すべての更新を表示Recent updatesPrice Target Changed • Mar 19Price target increased by 12% to ฿11.50Up from ฿10.30, the current price target is an average from 3 analysts. New target price is 31% above last closing price of ฿8.75. Stock is down 69% over the past year. The company is forecast to post earnings per share of ฿0.73 for next year compared to ฿0.66 last year.Valuation Update With 7 Day Price Move • Mar 06Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ฿9.30, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 16x in the Healthcare industry in Thailand. Total loss to shareholders of 86% over the past three years.New Risk • Mar 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 9.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.4% average weekly change). Minor Risks Dividend is not well covered by cash flows (96% cash payout ratio). Profit margins are more than 30% lower than last year (10% net profit margin). Market cap is less than US$100m (฿2.94b market cap, or US$93.6m).Reported Earnings • Mar 02Full year 2025 earnings: Revenues and EPS in line with analyst expectationsFull year 2025 results: EPS: ฿0.66 (down from ฿1.73 in FY 2024). Revenue: ฿1.90b (down 12% from FY 2024). Net income: ฿198.0m (down 62% from FY 2024). Profit margin: 10% (down from 24% in FY 2024). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Healthcare industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 44% per year, which means it is performing significantly worse than earnings.Major Estimate Revision • Feb 28Consensus EPS estimates fall by 15%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from ฿0.855 to ฿0.73. Revenue forecast unchanged from ฿1.93b at last update. Net income forecast to shrink 43% next year vs 9.4% growth forecast for Healthcare industry in Thailand . Consensus price target up from ฿10.30 to ฿10.88. Share price fell 2.7% to ฿11.00 over the past week.お知らせ • Feb 27+ 1 more updateMaster Style Public Company Limited announces Annual dividend, payable on May 12, 2026Master Style Public Company Limited announced Annual dividend of THB 0.4000 per share payable on May 12, 2026, ex-date on March 16, 2026 and record date on March 17, 2026.Valuation Update With 7 Day Price Move • Feb 13Investor sentiment improves as stock rises 18%After last week's 18% share price gain to ฿10.40, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 17x in the Healthcare industry in Thailand. Total loss to shareholders of 83% over the past three years.Valuation Update With 7 Day Price Move • Jan 20Investor sentiment improves as stock rises 18%After last week's 18% share price gain to ฿8.95, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 16x in the Healthcare industry in Thailand. Total loss to shareholders of 71% over the past year.New Risk • Jan 05New 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 6.8% 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 are forecast to decline by an average of 8.4% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (฿2.64b market cap, or US$84.3m).Valuation Update With 7 Day Price Move • Jan 05Investor sentiment improves as stock rises 20%After last week's 20% share price gain to ฿8.75, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 16x in the Healthcare industry in Thailand. Total loss to shareholders of 81% over the past year.Price Target Changed • Dec 13Price target decreased by 15% to ฿10.30Down from ฿12.13, the current price target is an average from 4 analysts. New target price is 18% above last closing price of ฿8.75. Stock is down 81% over the past year. The company is forecast to post earnings per share of ฿0.66 for next year compared to ฿1.73 last year.Reported Earnings • Nov 12Third quarter 2025 earnings: EPS exceeds analyst expectationsThird quarter 2025 results: EPS: ฿0.14 (down from ฿0.36 in 3Q 2024). Revenue: ฿450.2m (down 14% from 3Q 2024). Net income: ฿43.4m (down 60% from 3Q 2024). Profit margin: 9.6% (down from 21% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.7%. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Healthcare industry in Thailand.New Risk • Oct 27New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ฿3.20b (US$97.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 9.4% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (122% cash payout ratio). Market cap is less than US$100m (฿3.20b market cap, or US$97.9m).New Risk • Aug 19New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 2.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.6% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (122% cash payout ratio). Share price has been volatile over the past 3 months (8.1% average weekly change).Major Estimate Revision • Aug 19Consensus EPS estimates fall by 15%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ฿2.12b to ฿2.06b. EPS estimate also fell from ฿1.16 per share to ฿0.983 per share. Net income forecast to shrink 22% next year vs 6.1% growth forecast for Healthcare industry in Thailand . Consensus price target up from ฿13.05 to ฿13.55. Share price fell 12% to ฿12.70 over the past week.Reported Earnings • Aug 14Second quarter 2025 earnings: EPS and revenues miss analyst expectationsSecond quarter 2025 results: EPS: ฿0.17 (down from ฿0.29 in 2Q 2024). Revenue: ฿497.7m (down 3.6% from 2Q 2024). Net income: ฿52.8m (down 40% from 2Q 2024). Profit margin: 11% (down from 17% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 5.6%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Healthcare industry in Thailand.Price Target Changed • Jul 17Price target decreased by 35% to ฿17.49Down from ฿26.79, the current price target is an average from 4 analysts. New target price is 26% above last closing price of ฿13.90. Stock is down 76% over the past year. The company is forecast to post earnings per share of ฿1.30 for next year compared to ฿1.73 last year.Board Change • Jun 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. Independent Director Vichate Tantiwanich was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.Valuation Update With 7 Day Price Move • May 20Investor sentiment deteriorates as stock falls 26%After last week's 26% share price decline to ฿13.50, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 15x in the Healthcare industry in Thailand. Total loss to shareholders of 78% over the past year.Reported Earnings • May 14First quarter 2025 earnings released: EPS: ฿0.18 (vs ฿0.35 in 1Q 2024)First quarter 2025 results: EPS: ฿0.18 (down from ฿0.35 in 1Q 2024). Revenue: ฿477.8m (flat on 1Q 2024). Net income: ฿55.8m (down 48% from 1Q 2024). Profit margin: 12% (down from 22% in 1Q 2024). Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Healthcare industry in Thailand.Price Target Changed • May 05Price target decreased by 7.2% to ฿36.75Down from ฿39.60, the current price target is an average from 5 analysts. New target price is 78% above last closing price of ฿20.60. Stock is down 65% over the past year. The company is forecast to post earnings per share of ฿1.84 for next year compared to ฿1.73 last year.お知らせ • Apr 23Master Style Public Company Limited Approves Cash Dividend for the Year 2024, Payable on May 9, 2025Master Style Public Company Limited announced that at its AGM held on April 23, 2025, resolved to approve the appropriation of the 2024 annual profit as a legal reserve in the amount of THB 3,800,000, and the dividends payment from the net profits of the operating results ended on 31 December 2024 to shareholders at the rate of THB 0.80 per share, for 301,711,736 shares, totaling THB 241,369,389. The Company fixed 12 March 2025 as the Record Date to determine the lists of shareholders who are eligible to receive dividends, and the date of dividend payment shall be paid within 9 May 2025.Valuation Update With 7 Day Price Move • Apr 22Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ฿21.60, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 17x in the Healthcare industry in Thailand. Total loss to shareholders of 65% over the past year.Price Target Changed • Apr 09Price target decreased by 11% to ฿39.60Down from ฿44.68, the current price target is an average from 5 analysts. New target price is 114% above last closing price of ฿18.50. Stock is down 71% over the past year. The company is forecast to post earnings per share of ฿1.95 for next year compared to ฿1.73 last year.Valuation Update With 7 Day Price Move • Mar 27Investor sentiment deteriorates as stock falls 21%After last week's 21% share price decline to ฿22.40, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 17x in the Healthcare industry in Thailand. Total loss to shareholders of 65% over the past year.Declared Dividend • Feb 28Dividend increased to ฿0.80Dividend of ฿0.80 is 4,940% higher than last year. Ex-date: 11th March 2025 Payment date: 9th May 2025 Dividend yield will be 2.7%, which is higher than the industry average of 2.3%.お知らせ • Feb 27Master Style Public Company Limited Propose Cash Dividend, Payable Within May 9, 2025The Meeting of the Board of Directors of Master Style Public Company Limited held on 25 February 2025, proposed to the 2025 AGM for consideration and approval of the appropriation of the annual net profit of THB 3,800,000 in respect of the year 2024, as a legal reserve, and the dividend payment from the net profits of the operating results of the year 2024, to the shareholders at the rate of THB 0.80 per share, for 301,711,736 shares, totaling THB 241,369,389 by scheduling for 12 March 2025 as the Record Date to determine the lists of shareholders who is eligible to receive dividend and the date payable such dividend to the shareholders shall be within 9 May 2025. The right to receive such dividends is uncertain, subject the approval of the 2025 AGM of Shareholders. Ex-dividend date of 11 March 2025.お知らせ • Feb 26Master Style Public Company Limited, Annual General Meeting, Apr 23, 2025Master Style Public Company Limited, Annual General Meeting, Apr 23, 2025, at 10:00 SE Asia Standard Time. Location: the conference room building 3 of, master style public company limited, ThailandNew Risk • Feb 26New 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 9.5% 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 (9.5% average weekly change). High level of non-cash earnings (29% accrual ratio).Valuation Update With 7 Day Price Move • Feb 21Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ฿30.50, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 17x in the Healthcare industry in Thailand. Total loss to shareholders of 52% over the past year.Price Target Changed • Jan 31Price target decreased by 15% to ฿49.98Down from ฿58.50, the current price target is an average from 5 analysts. New target price is 72% above last closing price of ฿29.00. Stock is down 48% over the past year. The company is forecast to post earnings per share of ฿1.68 for next year compared to ฿1.39 last year.Price Target Changed • Jan 22Price target decreased by 9.6% to ฿54.78Down from ฿60.58, the current price target is an average from 5 analysts. New target price is 78% above last closing price of ฿30.75. Stock is down 47% over the past year. The company is forecast to post earnings per share of ฿1.67 for next year compared to ฿1.39 last year.New Risk • Jan 16New 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 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (29% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.6% average weekly change).Valuation Update With 7 Day Price Move • Jan 15Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ฿40.25, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 18x in the Healthcare industry in Thailand. Total loss to shareholders of 27% over the past year. Simply Wall St's valuation model estimates the intrinsic value at ฿70.64 per share.Reported Earnings • Nov 17Third quarter 2024 earnings: EPS misses analyst expectationsThird quarter 2024 results: EPS: ฿0.36 (up from ฿0.33 in 3Q 2023). Revenue: ฿525.1m (up 7.3% from 3Q 2023). Net income: ฿109.4m (up 9.6% from 3Q 2023). Profit margin: 21% (in line with 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.7%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Healthcare industry in Thailand.Price Target Changed • Aug 16Price target decreased by 9.0% to ฿66.08Down from ฿72.58, the current price target is an average from 6 analysts. New target price is 55% above last closing price of ฿42.75. Stock is down 18% over the past year. The company is forecast to post earnings per share of ฿1.67 for next year compared to ฿1.39 last year.Reported Earnings • Aug 15Second quarter 2024 earnings: EPS misses analyst expectationsSecond quarter 2024 results: EPS: ฿0.29 (up from ฿0.27 in 2Q 2023). Revenue: ฿516.0m (up 11% from 2Q 2023). Net income: ฿87.6m (up 7.5% from 2Q 2023). Profit margin: 17% (in line with 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 27%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Healthcare industry in Thailand.Valuation Update With 7 Day Price Move • Jul 23Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ฿50.75, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 22x in the Healthcare industry in Thailand. Total loss to shareholders of 18% over the past year. Simply Wall St's valuation model estimates the intrinsic value at ฿92.23 per share.Reported Earnings • May 16First quarter 2024 earnings released: EPS: ฿0.35 (vs ฿0.25 in 1Q 2023)First quarter 2024 results: EPS: ฿0.35 (up from ฿0.25 in 1Q 2023). Revenue: ฿477.0m (up 8.8% from 1Q 2023). Net income: ฿106.2m (up 49% from 1Q 2023). Profit margin: 22% (up from 16% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Healthcare industry in Thailand.Buy Or Sell Opportunity • Apr 26Now 21% undervaluedOver the last 90 days, the stock has risen 13% to ฿64.00. The fair value is estimated to be ฿81.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 41% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 22% per annum over the same time period.Buy Or Sell Opportunity • Apr 20Now 22% undervaluedOver the last 90 days, the stock has risen 14% to ฿60.75. The fair value is estimated to be ฿77.55, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 41% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 22% per annum over the same time period.Upcoming Dividend • Mar 12Upcoming dividend of ฿0.016 per shareEligible shareholders must have bought the stock before 19 March 2024. Payment date: 09 May 2024. Payout ratio is a comfortable 1.6% but the company is not cash flow positive. The company last paid an ordinary dividend in February 2023. The average dividend yield among industry peers is 3.5%.Price Target Changed • Feb 29Price target increased by 9.1% to ฿81.38Up from ฿74.56, the current price target is an average from 4 analysts. New target price is 10% above last closing price of ฿73.75. Stock is up 5.0% over the past year. The company is forecast to post earnings per share of ฿2.19 for next year compared to ฿1.59 last year.Declared Dividend • Feb 25Final dividend of ฿0.014 announcedShareholders will receive a dividend of ฿0.014. Ex-date: 19th March 2024 Payment date: 9th May 2024 Dividend yield will be 0.03%, which is lower than the industry average of 2.3%.Reported Earnings • Feb 24Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: EPS: ฿1.59. Revenue: ฿1.94b (up 30% from FY 2022). Net income: ฿416.3m (up 38% from FY 2022). Profit margin: 21% (up from 20% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 7.6% growth forecast for the Healthcare industry in Thailand.お知らせ • Feb 23+ 1 more updateMaster Style Public Company Limited Approves Appointment of Lapasrada Lertpanurot as Chief Executive OfficerThe board of directors of Master Style Public Company Limited at its meeting held on February 22, 2024, approved the appointment of Miss Lapasrada Lertpanurot to hold the position of Chief Executive Officer.Board Change • Jan 02Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 1 highly experienced director. Independent Director Vichate Tantiwanich was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.お知らせ • Dec 09Master Style Public Company Limited (SET:MASTER) agreed to acquire 40% stake in V Exclusive Group Company Limited from Phutthaphong Luangrat for THB 720 million.Master Style Public Company Limited (SET:MASTER) agreed to acquire 40% stake in V Exclusive Group Company Limited from Phutthaphong Luangrat for THB 720 million on December 7, 2023. As of December 31, 2022, V Exclusive Group reported total assets of THB 200 million, net income of THB 11.5 million, and total common equity of 49.8 million. The deal is subject to consummation of due diligence. The deal is expected to be completed within the first quarter of 2024.Buying Opportunity • Dec 08Now 24% undervalued after recent price dropOver the last 90 days, the stock is down 13%. The fair value is estimated to be ฿73.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 44% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 22% in a year. Earnings is forecast to grow by 49% in the next year.Reported Earnings • Nov 15Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2023 results: EPS: ฿0.42 (up from ฿0.42 in 3Q 2022). Revenue: ฿489.3m (up 21% from 3Q 2022). Net income: ฿99.8m (up 17% from 3Q 2022). Profit margin: 20% (in line with 3Q 2022). Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) exceeded analyst estimates by 24%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Healthcare industry in Thailand.Buying Opportunity • Oct 25Now 23% undervalued after recent price dropOver the last 90 days, the stock is down 38%. The fair value is estimated to be ฿56.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 81% over the last year. Earnings per share has declined by 21%. Revenue is forecast to grow by 21% in a year. Earnings is forecast to grow by 41% in the next year.Valuation Update With 7 Day Price Move • Oct 18Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to ฿46.25, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 27x in the Healthcare industry in Thailand. Simply Wall St's valuation model estimates the intrinsic value at ฿56.78 per share.お知らせ • Oct 05Master Style Public Company Limited Approves Interim Dividend,Payable on October 16, 2023Master Style Public Company Limited at its Extraordinary General Meeting held on October 2, 2023, approved payment of the interim dividend in forms of stock dividends and cash dividends derived from the retained earnings from the operating results ended June 30, 2023 to the shareholders, be approved with the following details: Stock dividends at a ratio of 10 existing share per 1 stock dividend or dividends payment ratio at THB 0.1 per share, in case of fractional shares, the company will pay in cash instead at a rate of THB 0.1 per share. Schedule August 30, 2023, as the Record Date to determine the list of shareholders who are eligible to receive dividend, and the date payable such dividend to the shareholders shall be within October 16, 2023, be approved with a majority vote of the shareholders in attendance and exercise their votes.Reported Earnings • Aug 22Second quarter 2023 earnings released: EPS: ฿0.34 (vs ฿0.51 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.34 (down from ฿0.51 in 2Q 2022). Revenue: ฿464.6m (up 24% from 2Q 2022). Net income: ฿81.5m (flat on 2Q 2022). Profit margin: 18% (down from 22% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 6.4% growth forecast for the Healthcare industry in Thailand.Upcoming Dividend • Aug 22Upcoming dividend of ฿0.011 per shareEligible shareholders must have bought the stock before 29 August 2023. Payment date: 16 October 2023. Payout ratio is a comfortable 17% but the company is paying out more than the cash it is generating. The company last paid an ordinary dividend in February 2023. The average dividend yield among industry peers is 2.0%.New Risk • Aug 17New 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 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (116% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.1% average weekly change).Reported Earnings • May 17First quarter 2023 earnings released: EPS: ฿0.31 (vs ฿0.38 in 1Q 2022)First quarter 2023 results: EPS: ฿0.31. Revenue: ฿438.2m (up 83% from 1Q 2022). Net income: ฿71.6m (up 30% from 1Q 2022). Profit margin: 16% (down from 23% in 1Q 2022). The decrease in margin was driven by higher expenses.お知らせ • May 05Master Style Public Company Limited Approves Dividend for the Year 2022Master Style Public Company Limited at the AGM held on April 28, 2023, the shareholders approved a dividend of THB 0.30 per share. The dividend shall be paid on March 16, 2023, and fix the record date to determine the list of shareholders entitled to receive dividends and the date payable such dividend to the shareholders shall be within May 19 2023.Reported Earnings • Jan 26Third quarter 2022 earnings releasedThird quarter 2022 results: EPS: ฿0.46. Net income: ฿85.1m (up ฿85.1m from 3Q 2021).お知らせ • Jan 25Master Style Public Company Limited has completed an IPO in the amount of THB 2.99 billion.Master Style Public Company Limited has completed an IPO in the amount of THB 2.99 billion. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 65,000,000 Price\Range: THB 46 Transaction Features: ESOP Related Offering業績と収益の成長予測SET:MASTER - 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12/31/20282,128280N/AN/A112/31/20272,025238331398212/31/20261,930219329377212/31/20251,899198251284N/A9/30/20252,064379321459N/A6/30/20252,139440197506N/A3/31/20252,157472190540N/A12/31/20242,15750848529N/A9/30/20242,070459-102472N/A6/30/20242,034455-91468N/A3/31/20241,982451-267452N/A12/31/20231,944416-284462N/A9/30/20231,866332-345366N/A6/30/20231,779317-199355N/A3/31/20231,68831845403N/A12/31/20221,490301185394N/A9/30/20221,268300353393N/A6/30/2022983241286323N/A3/31/2022761186196222N/A12/31/2021690163202218N/A12/31/2020610128160172N/A12/31/201941461195226N/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: MASTERの予測収益成長率 (年間10.3% ) は 貯蓄率 ( 2.2% ) を上回っています。収益対市場: MASTERの収益 ( 10.3% ) はTH市場 ( 10.3% ) よりも速いペースで成長すると予測されています。高成長収益: MASTERの収益は増加すると予測されていますが、大幅には増加しません。収益対市場: MASTERの収益 ( 3.7% ) TH市場 ( 9.6% ) よりも低い成長が予測されています。高い収益成長: MASTERの収益 ( 3.7% ) 20%よりも低い成長が予測されています。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: MASTERの 自己資本利益率 は、3年後には低くなると予測されています ( 7.6 %)。成長企業の発掘7D1Y7D1Y7D1YHealthcare 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2026/05/21 02:49終値2026/05/21 00:00収益2025/12/31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Master Style Public Company Limited 3 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。4 アナリスト機関Sasikarn UdomvejDBS Bank LtdAnuwat SrikajornratkulKrungsri Securities Public Company LimitedRata LimsuthiwanpoomTTB Wealth Securities Public Company Limited1 その他のアナリストを表示
Price Target Changed • Mar 19Price target increased by 12% to ฿11.50Up from ฿10.30, the current price target is an average from 3 analysts. New target price is 31% above last closing price of ฿8.75. Stock is down 69% over the past year. The company is forecast to post earnings per share of ฿0.73 for next year compared to ฿0.66 last year.
Major Estimate Revision • Feb 28Consensus EPS estimates fall by 15%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from ฿0.855 to ฿0.73. Revenue forecast unchanged from ฿1.93b at last update. Net income forecast to shrink 43% next year vs 9.4% growth forecast for Healthcare industry in Thailand . Consensus price target up from ฿10.30 to ฿10.88. Share price fell 2.7% to ฿11.00 over the past week.
Price Target Changed • Dec 13Price target decreased by 15% to ฿10.30Down from ฿12.13, the current price target is an average from 4 analysts. New target price is 18% above last closing price of ฿8.75. Stock is down 81% over the past year. The company is forecast to post earnings per share of ฿0.66 for next year compared to ฿1.73 last year.
Major Estimate Revision • Aug 19Consensus EPS estimates fall by 15%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ฿2.12b to ฿2.06b. EPS estimate also fell from ฿1.16 per share to ฿0.983 per share. Net income forecast to shrink 22% next year vs 6.1% growth forecast for Healthcare industry in Thailand . Consensus price target up from ฿13.05 to ฿13.55. Share price fell 12% to ฿12.70 over the past week.
Price Target Changed • Jul 17Price target decreased by 35% to ฿17.49Down from ฿26.79, the current price target is an average from 4 analysts. New target price is 26% above last closing price of ฿13.90. Stock is down 76% over the past year. The company is forecast to post earnings per share of ฿1.30 for next year compared to ฿1.73 last year.
Price Target Changed • May 05Price target decreased by 7.2% to ฿36.75Down from ฿39.60, the current price target is an average from 5 analysts. New target price is 78% above last closing price of ฿20.60. Stock is down 65% over the past year. The company is forecast to post earnings per share of ฿1.84 for next year compared to ฿1.73 last year.
Price Target Changed • Mar 19Price target increased by 12% to ฿11.50Up from ฿10.30, the current price target is an average from 3 analysts. New target price is 31% above last closing price of ฿8.75. Stock is down 69% over the past year. The company is forecast to post earnings per share of ฿0.73 for next year compared to ฿0.66 last year.
Valuation Update With 7 Day Price Move • Mar 06Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ฿9.30, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 16x in the Healthcare industry in Thailand. Total loss to shareholders of 86% over the past three years.
New Risk • Mar 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 9.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.4% average weekly change). Minor Risks Dividend is not well covered by cash flows (96% cash payout ratio). Profit margins are more than 30% lower than last year (10% net profit margin). Market cap is less than US$100m (฿2.94b market cap, or US$93.6m).
Reported Earnings • Mar 02Full year 2025 earnings: Revenues and EPS in line with analyst expectationsFull year 2025 results: EPS: ฿0.66 (down from ฿1.73 in FY 2024). Revenue: ฿1.90b (down 12% from FY 2024). Net income: ฿198.0m (down 62% from FY 2024). Profit margin: 10% (down from 24% in FY 2024). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Healthcare industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 44% per year, which means it is performing significantly worse than earnings.
Major Estimate Revision • Feb 28Consensus EPS estimates fall by 15%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from ฿0.855 to ฿0.73. Revenue forecast unchanged from ฿1.93b at last update. Net income forecast to shrink 43% next year vs 9.4% growth forecast for Healthcare industry in Thailand . Consensus price target up from ฿10.30 to ฿10.88. Share price fell 2.7% to ฿11.00 over the past week.
お知らせ • Feb 27+ 1 more updateMaster Style Public Company Limited announces Annual dividend, payable on May 12, 2026Master Style Public Company Limited announced Annual dividend of THB 0.4000 per share payable on May 12, 2026, ex-date on March 16, 2026 and record date on March 17, 2026.
Valuation Update With 7 Day Price Move • Feb 13Investor sentiment improves as stock rises 18%After last week's 18% share price gain to ฿10.40, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 17x in the Healthcare industry in Thailand. Total loss to shareholders of 83% over the past three years.
Valuation Update With 7 Day Price Move • Jan 20Investor sentiment improves as stock rises 18%After last week's 18% share price gain to ฿8.95, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 16x in the Healthcare industry in Thailand. Total loss to shareholders of 71% over the past year.
New Risk • Jan 05New 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 6.8% 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 are forecast to decline by an average of 8.4% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (฿2.64b market cap, or US$84.3m).
Valuation Update With 7 Day Price Move • Jan 05Investor sentiment improves as stock rises 20%After last week's 20% share price gain to ฿8.75, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 16x in the Healthcare industry in Thailand. Total loss to shareholders of 81% over the past year.
Price Target Changed • Dec 13Price target decreased by 15% to ฿10.30Down from ฿12.13, the current price target is an average from 4 analysts. New target price is 18% above last closing price of ฿8.75. Stock is down 81% over the past year. The company is forecast to post earnings per share of ฿0.66 for next year compared to ฿1.73 last year.
Reported Earnings • Nov 12Third quarter 2025 earnings: EPS exceeds analyst expectationsThird quarter 2025 results: EPS: ฿0.14 (down from ฿0.36 in 3Q 2024). Revenue: ฿450.2m (down 14% from 3Q 2024). Net income: ฿43.4m (down 60% from 3Q 2024). Profit margin: 9.6% (down from 21% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.7%. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Healthcare industry in Thailand.
New Risk • Oct 27New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ฿3.20b (US$97.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 9.4% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (122% cash payout ratio). Market cap is less than US$100m (฿3.20b market cap, or US$97.9m).
New Risk • Aug 19New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 2.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.6% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (122% cash payout ratio). Share price has been volatile over the past 3 months (8.1% average weekly change).
Major Estimate Revision • Aug 19Consensus EPS estimates fall by 15%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ฿2.12b to ฿2.06b. EPS estimate also fell from ฿1.16 per share to ฿0.983 per share. Net income forecast to shrink 22% next year vs 6.1% growth forecast for Healthcare industry in Thailand . Consensus price target up from ฿13.05 to ฿13.55. Share price fell 12% to ฿12.70 over the past week.
Reported Earnings • Aug 14Second quarter 2025 earnings: EPS and revenues miss analyst expectationsSecond quarter 2025 results: EPS: ฿0.17 (down from ฿0.29 in 2Q 2024). Revenue: ฿497.7m (down 3.6% from 2Q 2024). Net income: ฿52.8m (down 40% from 2Q 2024). Profit margin: 11% (down from 17% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 5.6%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Healthcare industry in Thailand.
Price Target Changed • Jul 17Price target decreased by 35% to ฿17.49Down from ฿26.79, the current price target is an average from 4 analysts. New target price is 26% above last closing price of ฿13.90. Stock is down 76% over the past year. The company is forecast to post earnings per share of ฿1.30 for next year compared to ฿1.73 last year.
Board Change • Jun 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. Independent Director Vichate Tantiwanich was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.
Valuation Update With 7 Day Price Move • May 20Investor sentiment deteriorates as stock falls 26%After last week's 26% share price decline to ฿13.50, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 15x in the Healthcare industry in Thailand. Total loss to shareholders of 78% over the past year.
Reported Earnings • May 14First quarter 2025 earnings released: EPS: ฿0.18 (vs ฿0.35 in 1Q 2024)First quarter 2025 results: EPS: ฿0.18 (down from ฿0.35 in 1Q 2024). Revenue: ฿477.8m (flat on 1Q 2024). Net income: ฿55.8m (down 48% from 1Q 2024). Profit margin: 12% (down from 22% in 1Q 2024). Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Healthcare industry in Thailand.
Price Target Changed • May 05Price target decreased by 7.2% to ฿36.75Down from ฿39.60, the current price target is an average from 5 analysts. New target price is 78% above last closing price of ฿20.60. Stock is down 65% over the past year. The company is forecast to post earnings per share of ฿1.84 for next year compared to ฿1.73 last year.
お知らせ • Apr 23Master Style Public Company Limited Approves Cash Dividend for the Year 2024, Payable on May 9, 2025Master Style Public Company Limited announced that at its AGM held on April 23, 2025, resolved to approve the appropriation of the 2024 annual profit as a legal reserve in the amount of THB 3,800,000, and the dividends payment from the net profits of the operating results ended on 31 December 2024 to shareholders at the rate of THB 0.80 per share, for 301,711,736 shares, totaling THB 241,369,389. The Company fixed 12 March 2025 as the Record Date to determine the lists of shareholders who are eligible to receive dividends, and the date of dividend payment shall be paid within 9 May 2025.
Valuation Update With 7 Day Price Move • Apr 22Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ฿21.60, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 17x in the Healthcare industry in Thailand. Total loss to shareholders of 65% over the past year.
Price Target Changed • Apr 09Price target decreased by 11% to ฿39.60Down from ฿44.68, the current price target is an average from 5 analysts. New target price is 114% above last closing price of ฿18.50. Stock is down 71% over the past year. The company is forecast to post earnings per share of ฿1.95 for next year compared to ฿1.73 last year.
Valuation Update With 7 Day Price Move • Mar 27Investor sentiment deteriorates as stock falls 21%After last week's 21% share price decline to ฿22.40, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 17x in the Healthcare industry in Thailand. Total loss to shareholders of 65% over the past year.
Declared Dividend • Feb 28Dividend increased to ฿0.80Dividend of ฿0.80 is 4,940% higher than last year. Ex-date: 11th March 2025 Payment date: 9th May 2025 Dividend yield will be 2.7%, which is higher than the industry average of 2.3%.
お知らせ • Feb 27Master Style Public Company Limited Propose Cash Dividend, Payable Within May 9, 2025The Meeting of the Board of Directors of Master Style Public Company Limited held on 25 February 2025, proposed to the 2025 AGM for consideration and approval of the appropriation of the annual net profit of THB 3,800,000 in respect of the year 2024, as a legal reserve, and the dividend payment from the net profits of the operating results of the year 2024, to the shareholders at the rate of THB 0.80 per share, for 301,711,736 shares, totaling THB 241,369,389 by scheduling for 12 March 2025 as the Record Date to determine the lists of shareholders who is eligible to receive dividend and the date payable such dividend to the shareholders shall be within 9 May 2025. The right to receive such dividends is uncertain, subject the approval of the 2025 AGM of Shareholders. Ex-dividend date of 11 March 2025.
お知らせ • Feb 26Master Style Public Company Limited, Annual General Meeting, Apr 23, 2025Master Style Public Company Limited, Annual General Meeting, Apr 23, 2025, at 10:00 SE Asia Standard Time. Location: the conference room building 3 of, master style public company limited, Thailand
New Risk • Feb 26New 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 9.5% 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 (9.5% average weekly change). High level of non-cash earnings (29% accrual ratio).
Valuation Update With 7 Day Price Move • Feb 21Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ฿30.50, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 17x in the Healthcare industry in Thailand. Total loss to shareholders of 52% over the past year.
Price Target Changed • Jan 31Price target decreased by 15% to ฿49.98Down from ฿58.50, the current price target is an average from 5 analysts. New target price is 72% above last closing price of ฿29.00. Stock is down 48% over the past year. The company is forecast to post earnings per share of ฿1.68 for next year compared to ฿1.39 last year.
Price Target Changed • Jan 22Price target decreased by 9.6% to ฿54.78Down from ฿60.58, the current price target is an average from 5 analysts. New target price is 78% above last closing price of ฿30.75. Stock is down 47% over the past year. The company is forecast to post earnings per share of ฿1.67 for next year compared to ฿1.39 last year.
New Risk • Jan 16New 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 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (29% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.6% average weekly change).
Valuation Update With 7 Day Price Move • Jan 15Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ฿40.25, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 18x in the Healthcare industry in Thailand. Total loss to shareholders of 27% over the past year. Simply Wall St's valuation model estimates the intrinsic value at ฿70.64 per share.
Reported Earnings • Nov 17Third quarter 2024 earnings: EPS misses analyst expectationsThird quarter 2024 results: EPS: ฿0.36 (up from ฿0.33 in 3Q 2023). Revenue: ฿525.1m (up 7.3% from 3Q 2023). Net income: ฿109.4m (up 9.6% from 3Q 2023). Profit margin: 21% (in line with 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.7%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Healthcare industry in Thailand.
Price Target Changed • Aug 16Price target decreased by 9.0% to ฿66.08Down from ฿72.58, the current price target is an average from 6 analysts. New target price is 55% above last closing price of ฿42.75. Stock is down 18% over the past year. The company is forecast to post earnings per share of ฿1.67 for next year compared to ฿1.39 last year.
Reported Earnings • Aug 15Second quarter 2024 earnings: EPS misses analyst expectationsSecond quarter 2024 results: EPS: ฿0.29 (up from ฿0.27 in 2Q 2023). Revenue: ฿516.0m (up 11% from 2Q 2023). Net income: ฿87.6m (up 7.5% from 2Q 2023). Profit margin: 17% (in line with 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 27%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Healthcare industry in Thailand.
Valuation Update With 7 Day Price Move • Jul 23Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ฿50.75, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 22x in the Healthcare industry in Thailand. Total loss to shareholders of 18% over the past year. Simply Wall St's valuation model estimates the intrinsic value at ฿92.23 per share.
Reported Earnings • May 16First quarter 2024 earnings released: EPS: ฿0.35 (vs ฿0.25 in 1Q 2023)First quarter 2024 results: EPS: ฿0.35 (up from ฿0.25 in 1Q 2023). Revenue: ฿477.0m (up 8.8% from 1Q 2023). Net income: ฿106.2m (up 49% from 1Q 2023). Profit margin: 22% (up from 16% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Healthcare industry in Thailand.
Buy Or Sell Opportunity • Apr 26Now 21% undervaluedOver the last 90 days, the stock has risen 13% to ฿64.00. The fair value is estimated to be ฿81.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 41% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 22% per annum over the same time period.
Buy Or Sell Opportunity • Apr 20Now 22% undervaluedOver the last 90 days, the stock has risen 14% to ฿60.75. The fair value is estimated to be ฿77.55, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 41% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 22% per annum over the same time period.
Upcoming Dividend • Mar 12Upcoming dividend of ฿0.016 per shareEligible shareholders must have bought the stock before 19 March 2024. Payment date: 09 May 2024. Payout ratio is a comfortable 1.6% but the company is not cash flow positive. The company last paid an ordinary dividend in February 2023. The average dividend yield among industry peers is 3.5%.
Price Target Changed • Feb 29Price target increased by 9.1% to ฿81.38Up from ฿74.56, the current price target is an average from 4 analysts. New target price is 10% above last closing price of ฿73.75. Stock is up 5.0% over the past year. The company is forecast to post earnings per share of ฿2.19 for next year compared to ฿1.59 last year.
Declared Dividend • Feb 25Final dividend of ฿0.014 announcedShareholders will receive a dividend of ฿0.014. Ex-date: 19th March 2024 Payment date: 9th May 2024 Dividend yield will be 0.03%, which is lower than the industry average of 2.3%.
Reported Earnings • Feb 24Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: EPS: ฿1.59. Revenue: ฿1.94b (up 30% from FY 2022). Net income: ฿416.3m (up 38% from FY 2022). Profit margin: 21% (up from 20% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 7.6% growth forecast for the Healthcare industry in Thailand.
お知らせ • Feb 23+ 1 more updateMaster Style Public Company Limited Approves Appointment of Lapasrada Lertpanurot as Chief Executive OfficerThe board of directors of Master Style Public Company Limited at its meeting held on February 22, 2024, approved the appointment of Miss Lapasrada Lertpanurot to hold the position of Chief Executive Officer.
Board Change • Jan 02Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 1 highly experienced director. Independent Director Vichate Tantiwanich was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
お知らせ • Dec 09Master Style Public Company Limited (SET:MASTER) agreed to acquire 40% stake in V Exclusive Group Company Limited from Phutthaphong Luangrat for THB 720 million.Master Style Public Company Limited (SET:MASTER) agreed to acquire 40% stake in V Exclusive Group Company Limited from Phutthaphong Luangrat for THB 720 million on December 7, 2023. As of December 31, 2022, V Exclusive Group reported total assets of THB 200 million, net income of THB 11.5 million, and total common equity of 49.8 million. The deal is subject to consummation of due diligence. The deal is expected to be completed within the first quarter of 2024.
Buying Opportunity • Dec 08Now 24% undervalued after recent price dropOver the last 90 days, the stock is down 13%. The fair value is estimated to be ฿73.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 44% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 22% in a year. Earnings is forecast to grow by 49% in the next year.
Reported Earnings • Nov 15Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2023 results: EPS: ฿0.42 (up from ฿0.42 in 3Q 2022). Revenue: ฿489.3m (up 21% from 3Q 2022). Net income: ฿99.8m (up 17% from 3Q 2022). Profit margin: 20% (in line with 3Q 2022). Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) exceeded analyst estimates by 24%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Healthcare industry in Thailand.
Buying Opportunity • Oct 25Now 23% undervalued after recent price dropOver the last 90 days, the stock is down 38%. The fair value is estimated to be ฿56.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 81% over the last year. Earnings per share has declined by 21%. Revenue is forecast to grow by 21% in a year. Earnings is forecast to grow by 41% in the next year.
Valuation Update With 7 Day Price Move • Oct 18Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to ฿46.25, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 27x in the Healthcare industry in Thailand. Simply Wall St's valuation model estimates the intrinsic value at ฿56.78 per share.
お知らせ • Oct 05Master Style Public Company Limited Approves Interim Dividend,Payable on October 16, 2023Master Style Public Company Limited at its Extraordinary General Meeting held on October 2, 2023, approved payment of the interim dividend in forms of stock dividends and cash dividends derived from the retained earnings from the operating results ended June 30, 2023 to the shareholders, be approved with the following details: Stock dividends at a ratio of 10 existing share per 1 stock dividend or dividends payment ratio at THB 0.1 per share, in case of fractional shares, the company will pay in cash instead at a rate of THB 0.1 per share. Schedule August 30, 2023, as the Record Date to determine the list of shareholders who are eligible to receive dividend, and the date payable such dividend to the shareholders shall be within October 16, 2023, be approved with a majority vote of the shareholders in attendance and exercise their votes.
Reported Earnings • Aug 22Second quarter 2023 earnings released: EPS: ฿0.34 (vs ฿0.51 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.34 (down from ฿0.51 in 2Q 2022). Revenue: ฿464.6m (up 24% from 2Q 2022). Net income: ฿81.5m (flat on 2Q 2022). Profit margin: 18% (down from 22% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 6.4% growth forecast for the Healthcare industry in Thailand.
Upcoming Dividend • Aug 22Upcoming dividend of ฿0.011 per shareEligible shareholders must have bought the stock before 29 August 2023. Payment date: 16 October 2023. Payout ratio is a comfortable 17% but the company is paying out more than the cash it is generating. The company last paid an ordinary dividend in February 2023. The average dividend yield among industry peers is 2.0%.
New Risk • Aug 17New 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 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (116% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.1% average weekly change).
Reported Earnings • May 17First quarter 2023 earnings released: EPS: ฿0.31 (vs ฿0.38 in 1Q 2022)First quarter 2023 results: EPS: ฿0.31. Revenue: ฿438.2m (up 83% from 1Q 2022). Net income: ฿71.6m (up 30% from 1Q 2022). Profit margin: 16% (down from 23% in 1Q 2022). The decrease in margin was driven by higher expenses.
お知らせ • May 05Master Style Public Company Limited Approves Dividend for the Year 2022Master Style Public Company Limited at the AGM held on April 28, 2023, the shareholders approved a dividend of THB 0.30 per share. The dividend shall be paid on March 16, 2023, and fix the record date to determine the list of shareholders entitled to receive dividends and the date payable such dividend to the shareholders shall be within May 19 2023.
Reported Earnings • Jan 26Third quarter 2022 earnings releasedThird quarter 2022 results: EPS: ฿0.46. Net income: ฿85.1m (up ฿85.1m from 3Q 2021).
お知らせ • Jan 25Master Style Public Company Limited has completed an IPO in the amount of THB 2.99 billion.Master Style Public Company Limited has completed an IPO in the amount of THB 2.99 billion. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 65,000,000 Price\Range: THB 46 Transaction Features: ESOP Related Offering