A.J. Plast（AJ）株式概要A.J. Plast Public Company Limited は、プラスチックフィルムとスクラップ製品の製造、販売、輸出をタイ国内および海外で行っている。 詳細AJ ファンダメンタル分析スノーフレーク・スコア評価2/6将来の成長0/6過去の実績0/6財務の健全性0/6配当金0/6リスク分析TH市場と比較して、過去 3 か月間の株価の変動が非常に大きい過去5年間で収益は年間62.7%減少しました。 負債は営業キャッシュフローで十分にカバーされていない 意味のある時価総額がありません ( THB2B )すべてのリスクチェックを見るAJ Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair Value฿Current Price฿2.8444.2% 割安 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-752m10b2016201920222025202620282031Revenue ฿6.4bEarnings ฿390.9mAdvancedSet Fair ValueView all narrativesA.J. Plast Public Company Limited 競合他社Unique Plastic IndustrySymbol: SET:UNIXMarket cap: ฿1.1bTPBISymbol: SET:TPBIMarket cap: ฿1.2bPanjawattana PlasticSymbol: SET:PJWMarket cap: ฿1.2bStarflexSymbol: SET:SFLEXMarket cap: ฿2.1b価格と性能株価の高値、安値、推移の概要A.J. Plast過去の株価現在の株価฿2.8452週高値฿3.4452週安値฿1.51ベータ-0.391ヶ月の変化10.08%3ヶ月変化57.78%1年変化-0.70%3年間の変化-70.11%5年間の変化-86.15%IPOからの変化-44.85%最新ニュースReported Earnings • 1hFirst quarter 2026 earnings released: ฿0.17 loss per share (vs ฿0.028 loss in 1Q 2025)First quarter 2026 results: ฿0.17 loss per share (further deteriorated from ฿0.028 loss in 1Q 2025). Revenue: ฿1.83b (down 18% from 1Q 2025). Net loss: ฿99.7m (loss widened ฿83.2m from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings.Reported Earnings • Mar 02Full year 2025 earnings released: ฿0.93 loss per share (vs ฿1.38 loss in FY 2024)Full year 2025 results: ฿0.93 loss per share (improved from ฿1.38 loss in FY 2024). Revenue: ฿7.90b (flat on FY 2024). Net loss: ฿553.0m (loss narrowed 24% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has fallen by 45% per year, which means it is performing significantly worse than earnings.お知らせ • Feb 26A.J. Plast Public Company Limited, Annual General Meeting, Apr 24, 2026A.J. Plast Public Company Limited, Annual General Meeting, Apr 24, 2026, at 09:00 SE Asia Standard Time. Location: the meeting room at the wisdom building, of a.j. plas public company limited, ThailandNew Risk • Dec 26New 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 7.8% 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 Risks Debt is not well covered by operating cash flow (3.6% operating cash flow to total debt). Earnings have declined by 67% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Market cap is less than US$100m (฿1.26b market cap, or US$40.7m).Reported Earnings • Nov 23Third quarter 2025 earnings released: ฿0.28 loss per share (vs ฿0.28 loss in 3Q 2024)Third quarter 2025 results: ฿0.28 loss per share (further deteriorated from ฿0.28 loss in 3Q 2024). Revenue: ฿1.90b (down 16% from 3Q 2024). Net loss: ฿169.0m (loss widened 3.0% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 49% per year, which means it has not declined as severely as earnings.Reported Earnings • Aug 14Second quarter 2025 earnings released: ฿0.32 loss per share (vs ฿0.20 loss in 2Q 2024)Second quarter 2025 results: ฿0.32 loss per share (further deteriorated from ฿0.20 loss in 2Q 2024). Revenue: ฿1.98b (up 19% from 2Q 2024). Net loss: ฿193.1m (loss widened 104% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 24 percentage points per year, which is a significant difference in performance.最新情報をもっと見るRecent updatesReported Earnings • 1hFirst quarter 2026 earnings released: ฿0.17 loss per share (vs ฿0.028 loss in 1Q 2025)First quarter 2026 results: ฿0.17 loss per share (further deteriorated from ฿0.028 loss in 1Q 2025). Revenue: ฿1.83b (down 18% from 1Q 2025). Net loss: ฿99.7m (loss widened ฿83.2m from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings.Reported Earnings • Mar 02Full year 2025 earnings released: ฿0.93 loss per share (vs ฿1.38 loss in FY 2024)Full year 2025 results: ฿0.93 loss per share (improved from ฿1.38 loss in FY 2024). Revenue: ฿7.90b (flat on FY 2024). Net loss: ฿553.0m (loss narrowed 24% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has fallen by 45% per year, which means it is performing significantly worse than earnings.お知らせ • Feb 26A.J. Plast Public Company Limited, Annual General Meeting, Apr 24, 2026A.J. Plast Public Company Limited, Annual General Meeting, Apr 24, 2026, at 09:00 SE Asia Standard Time. Location: the meeting room at the wisdom building, of a.j. plas public company limited, ThailandNew Risk • Dec 26New 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 7.8% 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 Risks Debt is not well covered by operating cash flow (3.6% operating cash flow to total debt). Earnings have declined by 67% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Market cap is less than US$100m (฿1.26b market cap, or US$40.7m).Reported Earnings • Nov 23Third quarter 2025 earnings released: ฿0.28 loss per share (vs ฿0.28 loss in 3Q 2024)Third quarter 2025 results: ฿0.28 loss per share (further deteriorated from ฿0.28 loss in 3Q 2024). Revenue: ฿1.90b (down 16% from 3Q 2024). Net loss: ฿169.0m (loss widened 3.0% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 49% per year, which means it has not declined as severely as earnings.Reported Earnings • Aug 14Second quarter 2025 earnings released: ฿0.32 loss per share (vs ฿0.20 loss in 2Q 2024)Second quarter 2025 results: ฿0.32 loss per share (further deteriorated from ฿0.20 loss in 2Q 2024). Revenue: ฿1.98b (up 19% from 2Q 2024). Net loss: ฿193.1m (loss widened 104% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 24 percentage points per year, which is a significant difference in performance.Reported Earnings • May 14First quarter 2025 earnings released: ฿0.028 loss per share (vs ฿0.026 profit in 1Q 2024)First quarter 2025 results: ฿0.028 loss per share (down from ฿0.026 profit in 1Q 2024). Revenue: ฿2.25b (up 17% from 1Q 2024). Net loss: ฿16.6m (down 246% from profit in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 45 percentage points per year, which is a significant difference in performance.Board Change • Mar 02Less than half of directors are independentFollowing Director Roy Ingkhaipiroj's arrival on 01 March 2025, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Kasemsit Pathomsak was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.お知らせ • Mar 01+ 1 more updateA.J. Plast Public Company Limited, Annual General Meeting, Apr 29, 2025A.J. Plast Public Company Limited, Annual General Meeting, Apr 29, 2025, at 09:00 SE Asia Standard Time. Location: at the a.j.plast public limited , meeting room at the wisdom building, no 101/5 thakarm road, samaedam, sub-district, bangkhuntien district, bangkok 10150 ThailandNew Risk • Feb 24New major risk - Revenue and earnings growthEarnings have declined by 46% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 46% per year over the past 5 years. Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (฿1.41b market cap, or US$42.1m).New Risk • Jan 24New 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 (currently running at an operating cash loss). Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (฿1.67b market cap, or US$49.7m).New Risk • Jan 16New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 36% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Minor Risk Market cap is less than US$100m (฿1.57b market cap, or US$45.5m).Reported Earnings • Aug 16Second quarter 2024 earnings released: ฿0.22 loss per share (vs ฿0.24 loss in 2Q 2023)Second quarter 2024 results: ฿0.22 loss per share (improved from ฿0.24 loss in 2Q 2023). Revenue: ฿1.68b (down 15% from 2Q 2023). Net loss: ฿94.7m (loss narrowed 9.6% from 2Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance.New Risk • Jun 24New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 36% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Shareholders have been diluted in the past year (36% increase in shares outstanding). Market cap is less than US$100m (฿3.46b market cap, or US$94.1m).Reported Earnings • May 16First quarter 2024 earnings released: EPS: ฿0.026 (vs ฿0.44 loss in 1Q 2023)First quarter 2024 results: EPS: ฿0.026 (up from ฿0.44 loss in 1Q 2023). Revenue: ฿1.94b (up 6.9% from 1Q 2023). Net income: ฿11.3m (up ฿204.9m from 1Q 2023). Profit margin: 0.6% (up from net loss in 1Q 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 65 percentage points per year, which is a significant difference in performance.Reported Earnings • Mar 02Full year 2023 earnings released: ฿0.83 loss per share (vs ฿0.067 profit in FY 2022)Full year 2023 results: ฿0.83 loss per share (down from ฿0.067 profit in FY 2022). Revenue: ฿7.70b (down 15% from FY 2022). Net loss: ฿367.0m (down ฿396.6m 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 63 percentage points per year, which is a significant difference in performance.お知らせ • Feb 28A.J. Plast Public Company Limited, Annual General Meeting, Apr 30, 2024A.J. Plast Public Company Limited, Annual General Meeting, Apr 30, 2024, at 09:00 SE Asia Standard Time. Location: meeting room at the Wisdom Building of A.J. Plast Pulbilc Company Limited, No. 101/5 thakarm Road, Samaedam Sub-District, bangkhuntien District Bangkok Thailand Agenda: To consider the Minutes of the Annual General Shareholders meeting of No.1/2023 dated 26 April 2023; to acknowledge the operating performance and the annual report of the company for the year 2023; and to consider other matters.New Risk • Feb 28New major risk - Revenue and earnings growthEarnings have declined by 16% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 16% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (฿2.84b market cap, or US$78.8m).Price Target Changed • Nov 15Price target decreased by 16% to ฿8.45Down from ฿10.00, the current price target is provided by 1 analyst. New target price is 31% above last closing price of ฿6.45. Stock is down 48% over the past year. The company is forecast to post a net loss per share of ฿1.01 compared to earnings per share of ฿0.067 last year.Reported Earnings • Nov 14Third quarter 2023 earnings released: ฿0.13 loss per share (vs ฿0.098 loss in 3Q 2022)Third quarter 2023 results: ฿0.13 loss per share (further deteriorated from ฿0.098 loss in 3Q 2022). Revenue: ฿1.98b (down 11% from 3Q 2022). Net loss: ฿56.3m (loss widened 31% from 3Q 2022). Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance.Major Estimate Revision • Oct 05Consensus EPS estimates fall by 17%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ฿9.40b to ฿9.29b. Losses expected to increase from ฿0.86 per share to ฿1.01. Packaging industry in Thailand expected to see average net income growth of 46% next year. Consensus price target broadly unchanged at ฿10.00. Share price fell 3.2% to ฿7.65 over the past week.Reported Earnings • Aug 16Second quarter 2023 earnings released: ฿0.24 loss per share (vs ฿0.28 profit in 2Q 2022)Second quarter 2023 results: ฿0.24 loss per share (down from ฿0.28 profit in 2Q 2022). Revenue: ฿1.99b (down 24% from 2Q 2022). Net loss: ฿104.8m (down 184% from profit in 2Q 2022). Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 49 percentage points per year, which is a significant difference in performance.Reported Earnings • May 18First quarter 2023 earnings released: ฿0.44 loss per share (vs ฿0.32 profit in 1Q 2022)First quarter 2023 results: ฿0.44 loss per share (down from ฿0.32 profit in 1Q 2022). Revenue: ฿1.83b (down 28% from 1Q 2022). Net loss: ฿193.6m (down 236% from profit in 1Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.Reported Earnings • Mar 06Full year 2022 earnings: EPS and revenues miss analyst expectationsFull year 2022 results: EPS: ฿0.067 (down from ฿0.97 in FY 2021). Revenue: ฿9.13b (down 2.2% from FY 2021). Net income: ฿29.6m (down 93% from FY 2021). Profit margin: 0.3% (down from 4.6% in FY 2021). Revenue missed analyst estimates by 7.1%. Earnings per share (EPS) also missed analyst estimates by 85%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings.Price Target Changed • Nov 16Price target decreased to ฿17.70Down from ฿21.20, the current price target is provided by 1 analyst. New target price is 43% above last closing price of ฿12.40. Stock is down 32% over the past year. The company is forecast to post earnings per share of ฿0.99 for next year compared to ฿0.97 last year.Board Change • Nov 16Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Independent Director Surasak Gosayachinda was the last director to join the board, commencing their role in 2002. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.Price Target Changed • Nov 04Price target decreased to ฿17.70Down from ฿21.20, the current price target is provided by 1 analyst. New target price is 34% above last closing price of ฿13.20. Stock is down 29% over the past year. The company is forecast to post earnings per share of ฿0.99 for next year compared to ฿0.97 last year.Upcoming Dividend • Aug 18Upcoming dividend of ฿0.38 per shareEligible shareholders must have bought the stock before 25 August 2022. Payment date: 09 September 2022. Payout ratio is a comfortable 66% but the company is paying out more than the cash it is generating. Trailing yield: 4.1%. Lower than top quartile of Thai dividend payers (5.4%). Higher than average of industry peers (2.0%).Reported Earnings • Aug 14Second quarter 2022 earnings released: EPS: ฿0.28 (vs ฿0.39 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.28 (down from ฿0.39 in 2Q 2021). Revenue: ฿2.61b (up 11% from 2Q 2021). Net income: ฿125.0m (down 26% from 2Q 2021). Profit margin: 4.8% (down from 7.2% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 5.6%, compared to a 7.1% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.Price Target Changed • Jun 03Price target decreased to ฿21.00Down from ฿23.50, the current price target is provided by 1 analyst. New target price is 27% above last closing price of ฿16.60. Stock is down 16% over the past year. The company is forecast to post earnings per share of ฿1.31 for next year compared to ฿0.97 last year.Reported Earnings • May 15First quarter 2022 earnings released: EPS: ฿0.32 (vs ฿0.24 in 1Q 2021)First quarter 2022 results: EPS: ฿0.32 (up from ฿0.24 in 1Q 2021). Revenue: ฿2.58b (up 28% from 1Q 2021). Net income: ฿142.7m (up 38% from 1Q 2021). Profit margin: 5.5% (up from 5.1% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 6.0%, compared to a 9.4% growth forecast for the industry in Thailand. 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 19% per year, which means it is significantly lagging earnings growth.Board Change • Apr 27Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Independent Director Surasak Gosayachinda was the last director to join the board, commencing their role in 2002. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.Price Target Changed • Apr 27Price target increased to ฿23.50Up from ฿20.00, the current price target is provided by 1 analyst. New target price is 41% above last closing price of ฿16.70. Stock is down 18% over the past year. The company is forecast to post earnings per share of ฿1.50 for next year compared to ฿0.97 last year.Upcoming Dividend • Mar 04Upcoming dividend of ฿0.25 per shareEligible shareholders must have bought the stock before 11 March 2022. Payment date: 20 May 2022. Payout ratio is a comfortable 67% and the cash payout ratio is 92%. Trailing yield: 3.7%. Lower than top quartile of Thai dividend payers (5.2%). Higher than average of industry peers (2.3%).Price Target Changed • Mar 02Price target increased to ฿23.50Up from ฿20.00, the current price target is provided by 1 analyst. New target price is 28% above last closing price of ฿18.30. Stock is down 7.1% over the past year. The company is forecast to post earnings per share of ฿1.50 for next year compared to ฿0.97 last year.Reported Earnings • Mar 01Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull year 2021 results: EPS: ฿0.97 (down from ฿1.33 in FY 2020). Revenue: ฿9.44b (up 30% from FY 2020). Net income: ฿428.6m (down 20% from FY 2020). Profit margin: 4.5% (down from 7.3% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.2%. Over the next year, revenue is forecast to grow 5.3%, compared to a 11% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth.Price Target Changed • Dec 25Price target decreased to ฿20.00Down from ฿23.00, the current price target is provided by 1 analyst. New target price is 16% above last closing price of ฿17.20. Stock is down 23% over the past year. The company posted earnings per share of ฿1.33 last year.Reported Earnings • Nov 13Third quarter 2021 earnings released: ฿0.092 loss per share (vs ฿0.40 profit in 3Q 2020)The company reported a mediocre third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: ฿2.31b (up 32% from 3Q 2020). Net loss: ฿40.7m (down 125% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Aug 18Upcoming dividend of ฿0.40 per shareEligible shareholders must have bought the stock before 25 August 2021. Payment date: 09 September 2021. Trailing yield: 4.1%. Lower than top quartile of Thai dividend payers (5.1%). Higher than average of industry peers (1.6%).Reported Earnings • Aug 13Second quarter 2021 earnings released: EPS ฿0.39 (vs ฿0.68 in 2Q 2020)The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: ฿2.37b (up 26% from 2Q 2020). Net income: ฿170.0m (down 37% from 2Q 2020). Profit margin: 7.2% (down from 14% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • May 22Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to ฿20.60, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Packaging industry in Thailand. Total returns to shareholders of 92% over the past three years.Reported Earnings • May 16First quarter 2021 earnings released: EPS ฿0.24 (vs ฿0.14 loss in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿2.06b (up 9.3% from 1Q 2020). Net income: ฿103.6m (up ฿160.1m from 1Q 2020). Profit margin: 5.0% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • May 01Investor sentiment improved over the past weekAfter last week's 28% share price gain to ฿23.60, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Packaging industry in Thailand. Total returns to shareholders of 92% over the past three years.Reported Earnings • Mar 03Full year 2020 earnings released: EPS ฿1.33 (vs ฿0.59 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿7.34b (up 6.8% from FY 2019). Net income: ฿532.3m (up 125% from FY 2019). Profit margin: 7.3% (up from 3.4% 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 27% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Analyst Estimate Surprise Post Earnings • Mar 03Revenue misses expectationsRevenue missed analyst estimates by 4.3%. Over the next year, revenue is forecast to grow 4.2%, compared to a 20% growth forecast for the Packaging industry in Thailand.Valuation Update With 7 Day Price Move • Jan 01Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to ฿18.80, the stock is trading at a trailing P/E ratio of 12.9x, down from the previous P/E ratio of 15.2x. This compares to an average P/E of 11x in the Packaging industry in Thailand. Total returns to shareholders over the past three years are 62%.Is New 90 Day High Low • Dec 18New 90-day high: ฿19.40The company is up 30% from its price of ฿14.90 on 18 September 2020. The Thai market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Packaging industry, which is up 1.0% over the same period.Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS ฿0.40The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿1.78b (up 5.9% from 3Q 2019). Net income: ฿161.3m (up ฿174.1m from 3Q 2019). Profit margin: 9.0% (up from net loss in 3Q 2019). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.株主還元AJTH PackagingTH 市場7D4.4%-2.5%2.2%1Y-0.7%26.1%28.6%株主還元を見る業界別リターン: AJ過去 1 年間で26.1 % の収益を上げたTH Packaging業界を下回りました。リターン対市場: AJは、過去 1 年間で28.6 % のリターンを上げたTH市場を下回りました。価格変動Is AJ's price volatile compared to industry and market?AJ volatilityAJ Average Weekly Movement15.4%Packaging Industry Average Movement3.7%Market Average Movement4.9%10% most volatile stocks in TH Market10.1%10% least volatile stocks in TH Market2.6%安定した株価: AJの株価は、 TH市場と比較して過去 3 か月間で変動しています。時間の経過による変動: AJの 週次ボラティリティ は、過去 1 年間で10%から15%に増加しました。会社概要設立従業員CEO（最高経営責任者ウェブサイト1987n/aNarong Suthisamphatwww.ajplast.co.thA.J. Plast Public Company Limited は、プラスチックフィルムとスクラップ製品の製造、販売、輸出をタイ国内外で行っている。同社は1987年に設立され、本社はタイのバンコクにある。もっと見るA.J. Plast Public Company Limited 基礎のまとめA.J. Plast の収益と売上を時価総額と比較するとどうか。AJ 基礎統計学時価総額฿1.69b収益（TTM）-฿636.17m売上高(TTM)฿7.42b0.2xP/Sレシオ-2.7xPER（株価収益率AJ は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計AJ 損益計算書（TTM）収益฿7.42b売上原価฿7.29b売上総利益฿133.94mその他の費用฿770.11m収益-฿636.17m直近の収益報告Mar 31, 2026次回決算日該当なし一株当たり利益（EPS）-1.07グロス・マージン1.80%純利益率-8.57%有利子負債／自己資本比率173.3%AJ の長期的なパフォーマンスは？過去の実績と比較を見るView Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/20 13:35終値2026/05/20 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋A.J. Plast Public Company Limited 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。1 アナリスト機関Pongrat RatanatavananandaBualuang Securities PCL
Reported Earnings • 1hFirst quarter 2026 earnings released: ฿0.17 loss per share (vs ฿0.028 loss in 1Q 2025)First quarter 2026 results: ฿0.17 loss per share (further deteriorated from ฿0.028 loss in 1Q 2025). Revenue: ฿1.83b (down 18% from 1Q 2025). Net loss: ฿99.7m (loss widened ฿83.2m from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings.
Reported Earnings • Mar 02Full year 2025 earnings released: ฿0.93 loss per share (vs ฿1.38 loss in FY 2024)Full year 2025 results: ฿0.93 loss per share (improved from ฿1.38 loss in FY 2024). Revenue: ฿7.90b (flat on FY 2024). Net loss: ฿553.0m (loss narrowed 24% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has fallen by 45% per year, which means it is performing significantly worse than earnings.
お知らせ • Feb 26A.J. Plast Public Company Limited, Annual General Meeting, Apr 24, 2026A.J. Plast Public Company Limited, Annual General Meeting, Apr 24, 2026, at 09:00 SE Asia Standard Time. Location: the meeting room at the wisdom building, of a.j. plas public company limited, Thailand
New Risk • Dec 26New 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 7.8% 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 Risks Debt is not well covered by operating cash flow (3.6% operating cash flow to total debt). Earnings have declined by 67% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Market cap is less than US$100m (฿1.26b market cap, or US$40.7m).
Reported Earnings • Nov 23Third quarter 2025 earnings released: ฿0.28 loss per share (vs ฿0.28 loss in 3Q 2024)Third quarter 2025 results: ฿0.28 loss per share (further deteriorated from ฿0.28 loss in 3Q 2024). Revenue: ฿1.90b (down 16% from 3Q 2024). Net loss: ฿169.0m (loss widened 3.0% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 49% per year, which means it has not declined as severely as earnings.
Reported Earnings • Aug 14Second quarter 2025 earnings released: ฿0.32 loss per share (vs ฿0.20 loss in 2Q 2024)Second quarter 2025 results: ฿0.32 loss per share (further deteriorated from ฿0.20 loss in 2Q 2024). Revenue: ฿1.98b (up 19% from 2Q 2024). Net loss: ฿193.1m (loss widened 104% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 24 percentage points per year, which is a significant difference in performance.
Reported Earnings • 1hFirst quarter 2026 earnings released: ฿0.17 loss per share (vs ฿0.028 loss in 1Q 2025)First quarter 2026 results: ฿0.17 loss per share (further deteriorated from ฿0.028 loss in 1Q 2025). Revenue: ฿1.83b (down 18% from 1Q 2025). Net loss: ฿99.7m (loss widened ฿83.2m from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings.
Reported Earnings • Mar 02Full year 2025 earnings released: ฿0.93 loss per share (vs ฿1.38 loss in FY 2024)Full year 2025 results: ฿0.93 loss per share (improved from ฿1.38 loss in FY 2024). Revenue: ฿7.90b (flat on FY 2024). Net loss: ฿553.0m (loss narrowed 24% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has fallen by 45% per year, which means it is performing significantly worse than earnings.
お知らせ • Feb 26A.J. Plast Public Company Limited, Annual General Meeting, Apr 24, 2026A.J. Plast Public Company Limited, Annual General Meeting, Apr 24, 2026, at 09:00 SE Asia Standard Time. Location: the meeting room at the wisdom building, of a.j. plas public company limited, Thailand
New Risk • Dec 26New 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 7.8% 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 Risks Debt is not well covered by operating cash flow (3.6% operating cash flow to total debt). Earnings have declined by 67% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Market cap is less than US$100m (฿1.26b market cap, or US$40.7m).
Reported Earnings • Nov 23Third quarter 2025 earnings released: ฿0.28 loss per share (vs ฿0.28 loss in 3Q 2024)Third quarter 2025 results: ฿0.28 loss per share (further deteriorated from ฿0.28 loss in 3Q 2024). Revenue: ฿1.90b (down 16% from 3Q 2024). Net loss: ฿169.0m (loss widened 3.0% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 49% per year, which means it has not declined as severely as earnings.
Reported Earnings • Aug 14Second quarter 2025 earnings released: ฿0.32 loss per share (vs ฿0.20 loss in 2Q 2024)Second quarter 2025 results: ฿0.32 loss per share (further deteriorated from ฿0.20 loss in 2Q 2024). Revenue: ฿1.98b (up 19% from 2Q 2024). Net loss: ฿193.1m (loss widened 104% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 24 percentage points per year, which is a significant difference in performance.
Reported Earnings • May 14First quarter 2025 earnings released: ฿0.028 loss per share (vs ฿0.026 profit in 1Q 2024)First quarter 2025 results: ฿0.028 loss per share (down from ฿0.026 profit in 1Q 2024). Revenue: ฿2.25b (up 17% from 1Q 2024). Net loss: ฿16.6m (down 246% from profit in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 45 percentage points per year, which is a significant difference in performance.
Board Change • Mar 02Less than half of directors are independentFollowing Director Roy Ingkhaipiroj's arrival on 01 March 2025, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Kasemsit Pathomsak was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
お知らせ • Mar 01+ 1 more updateA.J. Plast Public Company Limited, Annual General Meeting, Apr 29, 2025A.J. Plast Public Company Limited, Annual General Meeting, Apr 29, 2025, at 09:00 SE Asia Standard Time. Location: at the a.j.plast public limited , meeting room at the wisdom building, no 101/5 thakarm road, samaedam, sub-district, bangkhuntien district, bangkok 10150 Thailand
New Risk • Feb 24New major risk - Revenue and earnings growthEarnings have declined by 46% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 46% per year over the past 5 years. Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (฿1.41b market cap, or US$42.1m).
New Risk • Jan 24New 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 (currently running at an operating cash loss). Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (฿1.67b market cap, or US$49.7m).
New Risk • Jan 16New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 36% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Minor Risk Market cap is less than US$100m (฿1.57b market cap, or US$45.5m).
Reported Earnings • Aug 16Second quarter 2024 earnings released: ฿0.22 loss per share (vs ฿0.24 loss in 2Q 2023)Second quarter 2024 results: ฿0.22 loss per share (improved from ฿0.24 loss in 2Q 2023). Revenue: ฿1.68b (down 15% from 2Q 2023). Net loss: ฿94.7m (loss narrowed 9.6% from 2Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance.
New Risk • Jun 24New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 36% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Shareholders have been diluted in the past year (36% increase in shares outstanding). Market cap is less than US$100m (฿3.46b market cap, or US$94.1m).
Reported Earnings • May 16First quarter 2024 earnings released: EPS: ฿0.026 (vs ฿0.44 loss in 1Q 2023)First quarter 2024 results: EPS: ฿0.026 (up from ฿0.44 loss in 1Q 2023). Revenue: ฿1.94b (up 6.9% from 1Q 2023). Net income: ฿11.3m (up ฿204.9m from 1Q 2023). Profit margin: 0.6% (up from net loss in 1Q 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 65 percentage points per year, which is a significant difference in performance.
Reported Earnings • Mar 02Full year 2023 earnings released: ฿0.83 loss per share (vs ฿0.067 profit in FY 2022)Full year 2023 results: ฿0.83 loss per share (down from ฿0.067 profit in FY 2022). Revenue: ฿7.70b (down 15% from FY 2022). Net loss: ฿367.0m (down ฿396.6m 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 63 percentage points per year, which is a significant difference in performance.
お知らせ • Feb 28A.J. Plast Public Company Limited, Annual General Meeting, Apr 30, 2024A.J. Plast Public Company Limited, Annual General Meeting, Apr 30, 2024, at 09:00 SE Asia Standard Time. Location: meeting room at the Wisdom Building of A.J. Plast Pulbilc Company Limited, No. 101/5 thakarm Road, Samaedam Sub-District, bangkhuntien District Bangkok Thailand Agenda: To consider the Minutes of the Annual General Shareholders meeting of No.1/2023 dated 26 April 2023; to acknowledge the operating performance and the annual report of the company for the year 2023; and to consider other matters.
New Risk • Feb 28New major risk - Revenue and earnings growthEarnings have declined by 16% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 16% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (฿2.84b market cap, or US$78.8m).
Price Target Changed • Nov 15Price target decreased by 16% to ฿8.45Down from ฿10.00, the current price target is provided by 1 analyst. New target price is 31% above last closing price of ฿6.45. Stock is down 48% over the past year. The company is forecast to post a net loss per share of ฿1.01 compared to earnings per share of ฿0.067 last year.
Reported Earnings • Nov 14Third quarter 2023 earnings released: ฿0.13 loss per share (vs ฿0.098 loss in 3Q 2022)Third quarter 2023 results: ฿0.13 loss per share (further deteriorated from ฿0.098 loss in 3Q 2022). Revenue: ฿1.98b (down 11% from 3Q 2022). Net loss: ฿56.3m (loss widened 31% from 3Q 2022). Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance.
Major Estimate Revision • Oct 05Consensus EPS estimates fall by 17%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ฿9.40b to ฿9.29b. Losses expected to increase from ฿0.86 per share to ฿1.01. Packaging industry in Thailand expected to see average net income growth of 46% next year. Consensus price target broadly unchanged at ฿10.00. Share price fell 3.2% to ฿7.65 over the past week.
Reported Earnings • Aug 16Second quarter 2023 earnings released: ฿0.24 loss per share (vs ฿0.28 profit in 2Q 2022)Second quarter 2023 results: ฿0.24 loss per share (down from ฿0.28 profit in 2Q 2022). Revenue: ฿1.99b (down 24% from 2Q 2022). Net loss: ฿104.8m (down 184% from profit in 2Q 2022). Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 49 percentage points per year, which is a significant difference in performance.
Reported Earnings • May 18First quarter 2023 earnings released: ฿0.44 loss per share (vs ฿0.32 profit in 1Q 2022)First quarter 2023 results: ฿0.44 loss per share (down from ฿0.32 profit in 1Q 2022). Revenue: ฿1.83b (down 28% from 1Q 2022). Net loss: ฿193.6m (down 236% from profit in 1Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.
Reported Earnings • Mar 06Full year 2022 earnings: EPS and revenues miss analyst expectationsFull year 2022 results: EPS: ฿0.067 (down from ฿0.97 in FY 2021). Revenue: ฿9.13b (down 2.2% from FY 2021). Net income: ฿29.6m (down 93% from FY 2021). Profit margin: 0.3% (down from 4.6% in FY 2021). Revenue missed analyst estimates by 7.1%. Earnings per share (EPS) also missed analyst estimates by 85%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings.
Price Target Changed • Nov 16Price target decreased to ฿17.70Down from ฿21.20, the current price target is provided by 1 analyst. New target price is 43% above last closing price of ฿12.40. Stock is down 32% over the past year. The company is forecast to post earnings per share of ฿0.99 for next year compared to ฿0.97 last year.
Board Change • Nov 16Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Independent Director Surasak Gosayachinda was the last director to join the board, commencing their role in 2002. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.
Price Target Changed • Nov 04Price target decreased to ฿17.70Down from ฿21.20, the current price target is provided by 1 analyst. New target price is 34% above last closing price of ฿13.20. Stock is down 29% over the past year. The company is forecast to post earnings per share of ฿0.99 for next year compared to ฿0.97 last year.
Upcoming Dividend • Aug 18Upcoming dividend of ฿0.38 per shareEligible shareholders must have bought the stock before 25 August 2022. Payment date: 09 September 2022. Payout ratio is a comfortable 66% but the company is paying out more than the cash it is generating. Trailing yield: 4.1%. Lower than top quartile of Thai dividend payers (5.4%). Higher than average of industry peers (2.0%).
Reported Earnings • Aug 14Second quarter 2022 earnings released: EPS: ฿0.28 (vs ฿0.39 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.28 (down from ฿0.39 in 2Q 2021). Revenue: ฿2.61b (up 11% from 2Q 2021). Net income: ฿125.0m (down 26% from 2Q 2021). Profit margin: 4.8% (down from 7.2% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 5.6%, compared to a 7.1% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.
Price Target Changed • Jun 03Price target decreased to ฿21.00Down from ฿23.50, the current price target is provided by 1 analyst. New target price is 27% above last closing price of ฿16.60. Stock is down 16% over the past year. The company is forecast to post earnings per share of ฿1.31 for next year compared to ฿0.97 last year.
Reported Earnings • May 15First quarter 2022 earnings released: EPS: ฿0.32 (vs ฿0.24 in 1Q 2021)First quarter 2022 results: EPS: ฿0.32 (up from ฿0.24 in 1Q 2021). Revenue: ฿2.58b (up 28% from 1Q 2021). Net income: ฿142.7m (up 38% from 1Q 2021). Profit margin: 5.5% (up from 5.1% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 6.0%, compared to a 9.4% growth forecast for the industry in Thailand. 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 19% per year, which means it is significantly lagging earnings growth.
Board Change • Apr 27Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Independent Director Surasak Gosayachinda was the last director to join the board, commencing their role in 2002. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.
Price Target Changed • Apr 27Price target increased to ฿23.50Up from ฿20.00, the current price target is provided by 1 analyst. New target price is 41% above last closing price of ฿16.70. Stock is down 18% over the past year. The company is forecast to post earnings per share of ฿1.50 for next year compared to ฿0.97 last year.
Upcoming Dividend • Mar 04Upcoming dividend of ฿0.25 per shareEligible shareholders must have bought the stock before 11 March 2022. Payment date: 20 May 2022. Payout ratio is a comfortable 67% and the cash payout ratio is 92%. Trailing yield: 3.7%. Lower than top quartile of Thai dividend payers (5.2%). Higher than average of industry peers (2.3%).
Price Target Changed • Mar 02Price target increased to ฿23.50Up from ฿20.00, the current price target is provided by 1 analyst. New target price is 28% above last closing price of ฿18.30. Stock is down 7.1% over the past year. The company is forecast to post earnings per share of ฿1.50 for next year compared to ฿0.97 last year.
Reported Earnings • Mar 01Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull year 2021 results: EPS: ฿0.97 (down from ฿1.33 in FY 2020). Revenue: ฿9.44b (up 30% from FY 2020). Net income: ฿428.6m (down 20% from FY 2020). Profit margin: 4.5% (down from 7.3% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.2%. Over the next year, revenue is forecast to grow 5.3%, compared to a 11% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth.
Price Target Changed • Dec 25Price target decreased to ฿20.00Down from ฿23.00, the current price target is provided by 1 analyst. New target price is 16% above last closing price of ฿17.20. Stock is down 23% over the past year. The company posted earnings per share of ฿1.33 last year.
Reported Earnings • Nov 13Third quarter 2021 earnings released: ฿0.092 loss per share (vs ฿0.40 profit in 3Q 2020)The company reported a mediocre third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: ฿2.31b (up 32% from 3Q 2020). Net loss: ฿40.7m (down 125% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Aug 18Upcoming dividend of ฿0.40 per shareEligible shareholders must have bought the stock before 25 August 2021. Payment date: 09 September 2021. Trailing yield: 4.1%. Lower than top quartile of Thai dividend payers (5.1%). Higher than average of industry peers (1.6%).
Reported Earnings • Aug 13Second quarter 2021 earnings released: EPS ฿0.39 (vs ฿0.68 in 2Q 2020)The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: ฿2.37b (up 26% from 2Q 2020). Net income: ฿170.0m (down 37% from 2Q 2020). Profit margin: 7.2% (down from 14% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • May 22Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to ฿20.60, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Packaging industry in Thailand. Total returns to shareholders of 92% over the past three years.
Reported Earnings • May 16First quarter 2021 earnings released: EPS ฿0.24 (vs ฿0.14 loss in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿2.06b (up 9.3% from 1Q 2020). Net income: ฿103.6m (up ฿160.1m from 1Q 2020). Profit margin: 5.0% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • May 01Investor sentiment improved over the past weekAfter last week's 28% share price gain to ฿23.60, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Packaging industry in Thailand. Total returns to shareholders of 92% over the past three years.
Reported Earnings • Mar 03Full year 2020 earnings released: EPS ฿1.33 (vs ฿0.59 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿7.34b (up 6.8% from FY 2019). Net income: ฿532.3m (up 125% from FY 2019). Profit margin: 7.3% (up from 3.4% 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 27% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Analyst Estimate Surprise Post Earnings • Mar 03Revenue misses expectationsRevenue missed analyst estimates by 4.3%. Over the next year, revenue is forecast to grow 4.2%, compared to a 20% growth forecast for the Packaging industry in Thailand.
Valuation Update With 7 Day Price Move • Jan 01Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to ฿18.80, the stock is trading at a trailing P/E ratio of 12.9x, down from the previous P/E ratio of 15.2x. This compares to an average P/E of 11x in the Packaging industry in Thailand. Total returns to shareholders over the past three years are 62%.
Is New 90 Day High Low • Dec 18New 90-day high: ฿19.40The company is up 30% from its price of ฿14.90 on 18 September 2020. The Thai market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Packaging industry, which is up 1.0% over the same period.
Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS ฿0.40The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿1.78b (up 5.9% from 3Q 2019). Net income: ฿161.3m (up ฿174.1m from 3Q 2019). Profit margin: 9.0% (up from net loss in 3Q 2019). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
