View Future GrowthQuality Construction Products 過去の業績過去 基準チェック /16Quality Construction Productsは、平均年間16.9%の収益成長を遂げていますが、 Basic Materials業界の収益は、年間 成長しています。収益は、平均年間6.1% 5.1%収益成長率で 成長しています。 Quality Construction Productsの自己資本利益率は8.1%であり、純利益率は11.5%です。主要情報16.87%収益成長率16.87%EPS成長率Basic Materials 業界の成長5.57%収益成長率5.11%株主資本利益率8.06%ネット・マージン11.50%前回の決算情報31 Mar 2026最近の業績更新Reported Earnings • Feb 11Full year 2025 earnings released: EPS: ฿0.62 (vs ฿1.26 in FY 2024)Full year 2025 results: EPS: ฿0.62 (down from ฿1.26 in FY 2024). Revenue: ฿1.88b (down 22% from FY 2024). Net income: ฿248.8m (down 51% from FY 2024). Profit margin: 13% (down from 21% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 17% per year.Reported Earnings • Nov 08Third quarter 2025 earnings released: EPS: ฿0.12 (vs ฿0.24 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.12 (down from ฿0.24 in 3Q 2024). Revenue: ฿472.8m (down 20% from 3Q 2024). Net income: ฿49.1m (down 48% from 3Q 2024). Profit margin: 10% (down from 16% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 4% per year.Reported Earnings • May 07First quarter 2025 earnings released: EPS: ฿0.22 (vs ฿0.50 in 1Q 2024)First quarter 2025 results: EPS: ฿0.22 (down from ฿0.50 in 1Q 2024). Revenue: ฿507.3m (down 30% from 1Q 2024). Net income: ฿88.3m (down 56% from 1Q 2024). Profit margin: 17% (down from 28% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.Reported Earnings • Feb 07Full year 2024 earnings released: EPS: ฿1.26 (vs ฿1.91 in FY 2023)Full year 2024 results: EPS: ฿1.26 (down from ฿1.91 in FY 2023). Revenue: ฿2.39b (down 25% from FY 2023). Net income: ฿503.7m (down 34% from FY 2023). Profit margin: 21% (down from 24% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.Reported Earnings • Aug 09Second quarter 2024 earnings released: EPS: ฿0.27 (vs ฿0.39 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.27 (down from ฿0.39 in 2Q 2023). Revenue: ฿566.8m (down 25% from 2Q 2023). Net income: ฿108.8m (down 30% from 2Q 2023). Profit margin: 19% (down from 21% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth.Reported Earnings • May 09First quarter 2024 earnings released: EPS: ฿0.50 (vs ฿0.39 in 1Q 2023)First quarter 2024 results: EPS: ฿0.50 (up from ฿0.39 in 1Q 2023). Revenue: ฿720.6m (flat on 1Q 2023). Net income: ฿199.4m (up 27% from 1Q 2023). Profit margin: 28% (up from 22% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth.すべての更新を表示Recent updatesUpcoming Dividend • Mar 19Upcoming dividend of ฿0.40 per shareEligible shareholders must have bought the stock before 26 March 2026. Payment date: 17 April 2026. Payout ratio is a comfortable 64% but the company is not cash flow positive. Trailing yield: 5.6%. Lower than top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (4.1%).Reported Earnings • Feb 11Full year 2025 earnings released: EPS: ฿0.62 (vs ฿1.26 in FY 2024)Full year 2025 results: EPS: ฿0.62 (down from ฿1.26 in FY 2024). Revenue: ฿1.88b (down 22% from FY 2024). Net income: ฿248.8m (down 51% from FY 2024). Profit margin: 13% (down from 21% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 17% per year.Declared Dividend • Feb 09Dividend reduced to ฿0.40Dividend of ฿0.40 is 38% lower than last year. Ex-date: 26th March 2026 Payment date: 17th April 2026 Dividend yield will be 6.1%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is covered by earnings (89.6% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 17% over the last 5 years, which if continued should maintain adequate earnings cover for the dividend.お知らせ • Feb 07+ 1 more updateQuality Construction Products Public Company Limited Proposes Cash Dividend for the Operating Period from January 1, 2025 to 31 December, 2025, Payable on April 17, 2026Quality Construction Products Public Company Limited proposed to the Annual General Meeting of Shareholders to be held on March 20, 2026 to approve the 2025 profit allocation for 2025 dividend payment at the rate of THB 0.40 per share. Record date for the right to receive dividends: 27 March, 2026. Ex-dividend date 26 March, 2026. Payment date 17 April, 2026. Paid from: Operating period from 01 January, 2025 to 31 December, 2025.Reported Earnings • Nov 08Third quarter 2025 earnings released: EPS: ฿0.12 (vs ฿0.24 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.12 (down from ฿0.24 in 3Q 2024). Revenue: ฿472.8m (down 20% from 3Q 2024). Net income: ฿49.1m (down 48% from 3Q 2024). Profit margin: 10% (down from 16% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 4% per year.New Risk • Aug 06New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 16% Last year net profit margin: 26% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (37% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (16% net profit margin). Market cap is less than US$100m (฿2.82b market cap, or US$87.1m).Buy Or Sell Opportunity • Jul 21Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 8.4% to ฿7.10. The fair value is estimated to be ฿8.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 34%.Buy Or Sell Opportunity • Jun 16Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 25% to ฿7.05. The fair value is estimated to be ฿8.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 34%.Reported Earnings • May 07First quarter 2025 earnings released: EPS: ฿0.22 (vs ฿0.50 in 1Q 2024)First quarter 2025 results: EPS: ฿0.22 (down from ฿0.50 in 1Q 2024). Revenue: ฿507.3m (down 30% from 1Q 2024). Net income: ฿88.3m (down 56% from 1Q 2024). Profit margin: 17% (down from 28% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Mar 28Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ฿8.05, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 9x in the Basic Materials industry in Thailand. Total returns to shareholders of 69% over the past three years.お知らせ • Mar 21Quality Construction Products Public Company Limited Approves Dividend for the Year Ended December 31, 2024, Payable on April 18, 2025Quality Construction Products Public Company Limited announced at the AGM held on March 21, 2025, approved dividend payment at the rate of THB 0.65 per share, totaling THB 260 million (The Company's current legal reserve had already reached THB 40 million, or equivalent to 10% of the registered capital as required by law) for the year ended December 31, 2024. The dividend shall be payable to the shareholders entitled to receive dividend according to the Company's Articles of Association, of record as of March 28, 2025 for the right to receive the dividend. The "XD" sign or the date on which the buyers of securities shall have no rights to receive the dividend will be posted on March 27, 2025. The dividend shall be payable on April 18, 2025 and receipt of such dividend shall be within 10 years.Upcoming Dividend • Mar 20Upcoming dividend of ฿0.65 per shareEligible shareholders must have bought the stock before 27 March 2025. Payment date: 18 April 2025. Payout ratio is a comfortable 52% but the company is paying out more than the cash it is generating. Trailing yield: 6.8%. Lower than top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (5.0%).Declared Dividend • Feb 10Dividend reduced to ฿0.65Dividend of ฿0.65 is 35% lower than last year. Ex-date: 27th March 2025 Payment date: 18th April 2025 Dividend yield will be 7.2%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is covered by earnings (64% earnings payout ratio) but not covered by cash flows (189% cash payout ratio). The dividend has increased by an average of 22% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 23% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Reported Earnings • Feb 07Full year 2024 earnings released: EPS: ฿1.26 (vs ฿1.91 in FY 2023)Full year 2024 results: EPS: ฿1.26 (down from ฿1.91 in FY 2023). Revenue: ฿2.39b (down 25% from FY 2023). Net income: ฿503.7m (down 34% from FY 2023). Profit margin: 21% (down from 24% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.お知らせ • Feb 07+ 1 more updateQuality Construction Products Public Company Limited, Annual General Meeting, Mar 21, 2025Quality Construction Products Public Company Limited, Annual General Meeting, Mar 21, 2025, at 14:00 SE Asia Standard Time.New Risk • Nov 20New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 20% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (20% accrual ratio). Minor Risk Dividend is not well covered by cash flows (101% cash payout ratio).Valuation Update With 7 Day Price Move • Sep 09Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ฿11.70, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 9x in the Basic Materials industry in Thailand. Total returns to shareholders of 152% over the past three years.Valuation Update With 7 Day Price Move • Aug 23Investor sentiment improves as stock rises 18%After last week's 18% share price gain to ฿10.00, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 9x in the Basic Materials industry in Thailand. Total returns to shareholders of 126% over the past three years.New Risk • Aug 13New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ฿3.50b (US$99.6m) 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (฿3.50b market cap, or US$99.6m).Reported Earnings • Aug 09Second quarter 2024 earnings released: EPS: ฿0.27 (vs ฿0.39 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.27 (down from ฿0.39 in 2Q 2023). Revenue: ฿566.8m (down 25% from 2Q 2023). Net income: ฿108.8m (down 30% from 2Q 2023). Profit margin: 19% (down from 21% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth.Buy Or Sell Opportunity • Jul 19Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 32% to ฿10.40. The fair value is estimated to be ฿13.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 73%.お知らせ • May 11Quality Construction Products Public Company Limited Appoints Karoon Chandrangsu as Chairman of the Audit CommitteeQuality Construction Products Public Company Limited announced the appointment of Mr. Karoon Chandrangsu as Chairman of the Audit Committee the appointment shall take an effect as of May 8, 2024. The Audit Committee is consisted of: Chairman of the Audit Committee: Mr. Karoon Chandrangsu remaining term in office 3 years; Member of the Audit Committee: Mr. Panthep Supachaiyakit remaining term in office 2 year; Member of the Audit Committee: Ms. Somboon Supasiripinyo remaining term in office 3 years; Secretary of the Audit Committee: Mr. Pitaya Sereesataya.Reported Earnings • May 09First quarter 2024 earnings released: EPS: ฿0.50 (vs ฿0.39 in 1Q 2023)First quarter 2024 results: EPS: ฿0.50 (up from ฿0.39 in 1Q 2023). Revenue: ฿720.6m (flat on 1Q 2023). Net income: ฿199.4m (up 27% from 1Q 2023). Profit margin: 28% (up from 22% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth.New Risk • Apr 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 6.0% 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: 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 (6.0% average weekly change).Valuation Update With 7 Day Price Move • Apr 01Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ฿14.60, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 11x in the Basic Materials industry in Thailand. Total returns to shareholders of 204% over the past three years.Upcoming Dividend • Mar 22Upcoming dividend of ฿1.00 per shareEligible shareholders must have bought the stock before 29 March 2024. Payment date: 19 April 2024. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 5.7%. Lower than top quartile of Thai dividend payers (5.8%). Higher than average of industry peers (3.4%).Declared Dividend • Feb 11Dividend increased to ฿1.00Dividend of ฿1.00 is 33% higher than last year. Ex-date: 29th March 2024 Payment date: 19th April 2024 Dividend yield will be 6.2%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 68% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.お知らせ • Feb 09Quality Construction Products Public Company Limited, Annual General Meeting, Mar 22, 2024Quality Construction Products Public Company Limited, Annual General Meeting, Mar 22, 2024, at 14:00 SE Asia Standard Time. Agenda: To acknowledge the Company's Annual Report for 2023; to approve the financial statements for the year ended December 31, 2023; to approve the 2023 profit allocation for 2023 dividend payment at the rate of THB 1 per share; to elect the directors in replacement of those who are due to retire by rotation; to appoint the Company's auditors and fix the audit fee for 2024; and to approve the remuneration of the Board of Directors and the Sub-committees for 2024.Reported Earnings • Feb 09Full year 2023 earnings released: EPS: ฿1.91 (vs ฿0.77 in FY 2022)Full year 2023 results: EPS: ฿1.91 (up from ฿0.77 in FY 2022). Revenue: ฿3.18b (up 39% from FY 2022). Net income: ฿765.1m (up 149% from FY 2022). Profit margin: 24% (up from 13% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth.お知らせ • Feb 09+ 1 more updateQuality Construction Products Public Company Limited Announces Board ChangesQuality Construction Products Public Company Limited announces that the Board of Directors Meeting held on February 8, 2024, has resolved to appoint Ms. Praiya Bhrommanop as the Company Secretary in replacement of Ms. Karnjanee Temsuk with the effective date from February 8, 2024, onwards.Reported Earnings • Nov 09Third quarter 2023 earnings released: EPS: ฿0.58 (vs ฿0.23 in 3Q 2022)Third quarter 2023 results: EPS: ฿0.58 (up from ฿0.23 in 3Q 2022). Revenue: ฿883.9m (up 38% from 3Q 2022). Net income: ฿231.0m (up 149% from 3Q 2022). Profit margin: 26% (up from 14% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 48% per year, which means it is significantly lagging earnings growth.お知らせ • Nov 09Quality Construction Products Public Company Limited Announces Management ChangesQuality Construction Products Public Company Limited announced that Mr. Chana Poomee has resigned as the Company's director. The Board of Directors Meeting held on November 8, 2023, has passed resolutions as follows:Elected Mr. Surachai Nimlaor to be a new director of the Company in replacement of Mr. Chana Poomee for the remaining term of Mr. Chana Poomee. Appointed Mr. Surachai Nimlaor to be member of the Executive Committee in replacement of Mr. Chana Poomee. Appointed Mr. Wiroat Rattanachaisit to be chairman of the Executive Committee in replacement of Mr. Nithi Patarachoke. Appointed Mr. Wiroat Rattanachaisit to be member of the Nomination, Remuneration and Corporate Governance Committee in replacement of Mr. Chana Poomee. These shall be effective from November 8, 2023 onwards.Reported Earnings • Aug 10Second quarter 2023 earnings released: EPS: ฿0.39 (vs ฿0.13 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.39 (up from ฿0.13 in 2Q 2022). Revenue: ฿755.3m (up 47% from 2Q 2022). Net income: ฿154.8m (up 204% from 2Q 2022). Profit margin: 21% (up from 9.9% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year whereas the company’s share price has increased by 47% per year.Valuation Update With 7 Day Price Move • Jun 27Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to ฿12.70, the stock trades at a trailing P/E ratio of 12.1x. Average trailing P/E is 15x in the Basic Materials industry in Thailand. Total returns to shareholders of 202% over the past three years.Valuation Update With 7 Day Price Move • May 24Investor sentiment improves as stock rises 15%After last week's 15% share price gain to ฿14.50, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 16x in the Basic Materials industry in Thailand. Total returns to shareholders of 256% over the past three years.Valuation Update With 7 Day Price Move • Apr 05Investor sentiment deteriorates as stock falls 22%After last week's 22% share price decline to ฿12.90, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 19x in the Basic Materials industry in Thailand. Total returns to shareholders of 221% over the past three years.Upcoming Dividend • Mar 24Upcoming dividend of ฿0.75 per share at 4.2% yieldEligible shareholders must have bought the stock before 31 March 2023. Payment date: 21 April 2023. Payout ratio is on the higher end at 97%, however this is supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Thai dividend payers (5.5%). Higher than average of industry peers (3.3%).Valuation Update With 7 Day Price Move • Mar 07Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ฿14.10, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 19x in the Basic Materials industry in Thailand. Total returns to shareholders of 254% over the past three years.Valuation Update With 7 Day Price Move • Feb 14Investor sentiment improves as stock rises 23%After last week's 23% share price gain to ฿13.00, the stock trades at a trailing P/E ratio of 23.9x. Average trailing P/E is 20x in the Basic Materials industry in Thailand. Total returns to shareholders of 181% over the past three years.Buying Opportunity • Jan 11Now 31% undervaluedOver the last 90 days, the stock is up 90%. The fair value is estimated to be ฿13.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.9% over the last 3 years. Earnings per share has declined by 4.0%.Valuation Update With 7 Day Price Move • Dec 06Investor sentiment improved over the past weekAfter last week's 20% share price gain to ฿7.55, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 15x in the Basic Materials industry in Thailand. Total returns to shareholders of 69% over the past three years.Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Somboon Supasiripinyo was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Aug 13Second quarter 2022 earnings released: EPS: ฿0.13 (vs ฿0.081 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.13 (up from ฿0.081 in 2Q 2021). Revenue: ฿513.5m (up 26% from 2Q 2021). Net income: ฿51.0m (up 58% from 2Q 2021). Profit margin: 9.9% (up from 7.9% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.Buying Opportunity • Jun 13Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 11%. The fair value is estimated to be ฿6.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.8% over the last 3 years. Earnings per share has declined by 5.3%.Buying Opportunity • May 28Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 13%. The fair value is estimated to be ฿6.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.8% over the last 3 years. Earnings per share has declined by 5.3%.Reported Earnings • May 13First quarter 2022 earnings released: EPS: ฿0.11 (vs ฿0.15 in 1Q 2021)First quarter 2022 results: EPS: ฿0.11 (down from ฿0.15 in 1Q 2021). Revenue: ฿472.8m (up 2.4% from 1Q 2021). Net income: ฿45.9m (down 22% from 1Q 2021). Profit margin: 9.7% (down from 13% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Somboon Supasiripinyo was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Buying Opportunity • Apr 01Now 22% undervaluedOver the last 90 days, the stock is up 2.7%. The fair value is estimated to be ฿7.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.6% over the last 3 years. Earnings per share has grown by 4.1%.Buying Opportunity • Mar 08Now 21% undervaluedOver the last 90 days, the stock is up 3.6%. The fair value is estimated to be ฿7.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.6% per annum over the last 3 years. Earnings per share has grown by 4.1% per annum over the last 3 years.Reported Earnings • Feb 13Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: ฿0.36 (up from ฿0.28 in FY 2020). Revenue: ฿1.63b (down 4.9% from FY 2020). Net income: ฿143.7m (up 26% from FY 2020). Profit margin: 8.8% (up from 6.6% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 6% per year.Reported Earnings • Nov 07Third quarter 2021 earnings released: EPS ฿0.06 (vs ฿0.026 loss in 3Q 2020)The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: ฿354.9m (down 11% from 3Q 2020). Net income: ฿24.2m (up ฿34.8m from 3Q 2020). Profit margin: 6.8% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.Executive Departure • Aug 18Director Bunn Kasemsup has left the companyOn the 9th of August, Bunn Kasemsup's tenure as Director ended after 1.5 years in the role. We don't have any record of a personal shareholding under Bunn's name. Bunn is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 10.33 years.Reported Earnings • Aug 10Second quarter 2021 earnings released: EPS ฿0.08 (vs ฿0.088 in 2Q 2020)The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿406.9m (down 2.5% from 2Q 2020). Net income: ฿32.3m (down 8.4% from 2Q 2020). Profit margin: 7.9% (down from 8.4% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.Reported Earnings • May 09First quarter 2021 earnings released: EPS ฿0.15 (vs ฿0.15 in 1Q 2020)The company reported a poor first quarter result with weaker earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: ฿461.7m (down 9.2% from 1Q 2020). Net income: ฿59.0m (down 5.1% from 1Q 2020). Profit margin: 13% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to ฿5.40, the stock trades at a trailing P/E ratio of 18.9x. Average trailing P/E is 17x in the Basic Materials industry in Thailand. Total loss to shareholders of 2.1% over the past three years.Upcoming Dividend • Mar 29Upcoming dividend of ฿0.46 per shareEligible shareholders must have bought the stock before 05 April 2021. Payment date: 22 April 2021. Trailing yield: 7.6%. Within top quartile of Thai dividend payers (4.9%). Higher than average of industry peers (3.9%).Valuation Update With 7 Day Price Move • Mar 19Investor sentiment improved over the past weekAfter last week's 20% share price gain to ฿6.60, the stock trades at a trailing P/E ratio of 23.2x. Average trailing P/E is 16x in the Basic Materials industry in Thailand. Total returns to shareholders of 14% over the past three years.Is New 90 Day High Low • Mar 16New 90-day high: ฿5.80The company is up 23% from a price of ฿4.70 on 16 December 2020. Outperformed the Thai market which is up 6.0% over the last 90 days. Exceeded the Basic Materials industry, which is down 1.0% over the same period.Reported Earnings • Feb 10Full year 2020 earnings releasedThe company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿1.72b (down 17% from FY 2019). Net income: ฿114.0m (down 37% from FY 2019). Profit margin: 6.6% (down from 8.7% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.Is New 90 Day High Low • Feb 10New 90-day high: ฿5.45The company is up 16% from its price of ฿4.70 on 12 November 2020. The Thai market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 5.0% over the same period.Reported Earnings • Nov 10Third quarter 2020 earnings released: ฿0.03 loss per shareThe company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: ฿399.1m (down 25% from 3Q 2019). Net loss: ฿10.5m (down 124% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings.Is New 90 Day High Low • Oct 09New 90-day high: ฿5.00The company is up 4.0% from its price of ฿4.82 on 10 July 2020. The Thai market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is down 9.0% over the same period.収支内訳Quality Construction Products の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史SET:Q-CON 収益、費用、利益 ( )THB Millions日付収益収益G+A経費研究開発費31 Mar 261,833211215031 Dec 251,877249203030 Sep 251,950290190030 Jun 252,066336197031 Mar 252,180393202031 Dec 242,394504211030 Sep 242,691626213030 Jun 242,986762208031 Mar 243,174808210031 Dec 233,179765206030 Sep 233,038661201030 Jun 232,796523193031 Mar 232,554419186031 Dec 222,296308184030 Sep 222,034218180030 Jun 221,748149179031 Mar 221,641131175031 Dec 211,635144170030 Sep 211,617143173030 Jun 211,661108176031 Mar 211,672111172031 Dec 201,718114175030 Sep 201,827135157030 Jun 201,959190165031 Mar 202,018182180031 Dec 192,066180182030 Sep 192,085181179030 Jun 192,035127196031 Mar 192,004103186031 Dec 181,92357188030 Sep 181,7844202030 Jun 181,80244167031 Mar 181,76332175031 Dec 171,7055174030 Sep 171,668-27174030 Jun 171,532-90197031 Mar 171,490-106186031 Dec 161,468-108189030 Sep 161,499-80191030 Jun 161,596-40180031 Mar 161,641-14186031 Dec 151,7247188030 Sep 151,82416205030 Jun 151,924492040質の高い収益: Q-CON 非現金収入 のレベルが高いです。利益率の向上: Q-CONの現在の純利益率 (11.5%)は、昨年(18%)よりも低くなっています。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: Q-CONの収益は過去 5 年間で年間16.9%増加しました。成長の加速: Q-CONは過去 1 年間の収益成長がマイナスであったため、5 年間の平均と比較することはできません。収益対業界: Q-CONは過去 1 年間で収益成長率がマイナス ( -46.3% ) となったため、 Basic Materials業界平均 ( -26.7% ) と比較することが困難です。株主資本利益率高いROE: Q-CONの 自己資本利益率 ( 8.1% ) は 低い とみなされます。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YMaterials 、過去の業績が好調な企業。View Financial Health企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/21 19:35終値2026/05/21 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Quality Construction Products 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Natanee SavirasaridKrungsri Securities Public Company Limited
Reported Earnings • Feb 11Full year 2025 earnings released: EPS: ฿0.62 (vs ฿1.26 in FY 2024)Full year 2025 results: EPS: ฿0.62 (down from ฿1.26 in FY 2024). Revenue: ฿1.88b (down 22% from FY 2024). Net income: ฿248.8m (down 51% from FY 2024). Profit margin: 13% (down from 21% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 17% per year.
Reported Earnings • Nov 08Third quarter 2025 earnings released: EPS: ฿0.12 (vs ฿0.24 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.12 (down from ฿0.24 in 3Q 2024). Revenue: ฿472.8m (down 20% from 3Q 2024). Net income: ฿49.1m (down 48% from 3Q 2024). Profit margin: 10% (down from 16% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 4% per year.
Reported Earnings • May 07First quarter 2025 earnings released: EPS: ฿0.22 (vs ฿0.50 in 1Q 2024)First quarter 2025 results: EPS: ฿0.22 (down from ฿0.50 in 1Q 2024). Revenue: ฿507.3m (down 30% from 1Q 2024). Net income: ฿88.3m (down 56% from 1Q 2024). Profit margin: 17% (down from 28% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Feb 07Full year 2024 earnings released: EPS: ฿1.26 (vs ฿1.91 in FY 2023)Full year 2024 results: EPS: ฿1.26 (down from ฿1.91 in FY 2023). Revenue: ฿2.39b (down 25% from FY 2023). Net income: ฿503.7m (down 34% from FY 2023). Profit margin: 21% (down from 24% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Aug 09Second quarter 2024 earnings released: EPS: ฿0.27 (vs ฿0.39 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.27 (down from ฿0.39 in 2Q 2023). Revenue: ฿566.8m (down 25% from 2Q 2023). Net income: ฿108.8m (down 30% from 2Q 2023). Profit margin: 19% (down from 21% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth.
Reported Earnings • May 09First quarter 2024 earnings released: EPS: ฿0.50 (vs ฿0.39 in 1Q 2023)First quarter 2024 results: EPS: ฿0.50 (up from ฿0.39 in 1Q 2023). Revenue: ฿720.6m (flat on 1Q 2023). Net income: ฿199.4m (up 27% from 1Q 2023). Profit margin: 28% (up from 22% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Mar 19Upcoming dividend of ฿0.40 per shareEligible shareholders must have bought the stock before 26 March 2026. Payment date: 17 April 2026. Payout ratio is a comfortable 64% but the company is not cash flow positive. Trailing yield: 5.6%. Lower than top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (4.1%).
Reported Earnings • Feb 11Full year 2025 earnings released: EPS: ฿0.62 (vs ฿1.26 in FY 2024)Full year 2025 results: EPS: ฿0.62 (down from ฿1.26 in FY 2024). Revenue: ฿1.88b (down 22% from FY 2024). Net income: ฿248.8m (down 51% from FY 2024). Profit margin: 13% (down from 21% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 17% per year.
Declared Dividend • Feb 09Dividend reduced to ฿0.40Dividend of ฿0.40 is 38% lower than last year. Ex-date: 26th March 2026 Payment date: 17th April 2026 Dividend yield will be 6.1%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is covered by earnings (89.6% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 17% over the last 5 years, which if continued should maintain adequate earnings cover for the dividend.
お知らせ • Feb 07+ 1 more updateQuality Construction Products Public Company Limited Proposes Cash Dividend for the Operating Period from January 1, 2025 to 31 December, 2025, Payable on April 17, 2026Quality Construction Products Public Company Limited proposed to the Annual General Meeting of Shareholders to be held on March 20, 2026 to approve the 2025 profit allocation for 2025 dividend payment at the rate of THB 0.40 per share. Record date for the right to receive dividends: 27 March, 2026. Ex-dividend date 26 March, 2026. Payment date 17 April, 2026. Paid from: Operating period from 01 January, 2025 to 31 December, 2025.
Reported Earnings • Nov 08Third quarter 2025 earnings released: EPS: ฿0.12 (vs ฿0.24 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.12 (down from ฿0.24 in 3Q 2024). Revenue: ฿472.8m (down 20% from 3Q 2024). Net income: ฿49.1m (down 48% from 3Q 2024). Profit margin: 10% (down from 16% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 4% per year.
New Risk • Aug 06New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 16% Last year net profit margin: 26% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (37% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (16% net profit margin). Market cap is less than US$100m (฿2.82b market cap, or US$87.1m).
Buy Or Sell Opportunity • Jul 21Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 8.4% to ฿7.10. The fair value is estimated to be ฿8.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 34%.
Buy Or Sell Opportunity • Jun 16Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 25% to ฿7.05. The fair value is estimated to be ฿8.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 34%.
Reported Earnings • May 07First quarter 2025 earnings released: EPS: ฿0.22 (vs ฿0.50 in 1Q 2024)First quarter 2025 results: EPS: ฿0.22 (down from ฿0.50 in 1Q 2024). Revenue: ฿507.3m (down 30% from 1Q 2024). Net income: ฿88.3m (down 56% from 1Q 2024). Profit margin: 17% (down from 28% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Mar 28Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ฿8.05, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 9x in the Basic Materials industry in Thailand. Total returns to shareholders of 69% over the past three years.
お知らせ • Mar 21Quality Construction Products Public Company Limited Approves Dividend for the Year Ended December 31, 2024, Payable on April 18, 2025Quality Construction Products Public Company Limited announced at the AGM held on March 21, 2025, approved dividend payment at the rate of THB 0.65 per share, totaling THB 260 million (The Company's current legal reserve had already reached THB 40 million, or equivalent to 10% of the registered capital as required by law) for the year ended December 31, 2024. The dividend shall be payable to the shareholders entitled to receive dividend according to the Company's Articles of Association, of record as of March 28, 2025 for the right to receive the dividend. The "XD" sign or the date on which the buyers of securities shall have no rights to receive the dividend will be posted on March 27, 2025. The dividend shall be payable on April 18, 2025 and receipt of such dividend shall be within 10 years.
Upcoming Dividend • Mar 20Upcoming dividend of ฿0.65 per shareEligible shareholders must have bought the stock before 27 March 2025. Payment date: 18 April 2025. Payout ratio is a comfortable 52% but the company is paying out more than the cash it is generating. Trailing yield: 6.8%. Lower than top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (5.0%).
Declared Dividend • Feb 10Dividend reduced to ฿0.65Dividend of ฿0.65 is 35% lower than last year. Ex-date: 27th March 2025 Payment date: 18th April 2025 Dividend yield will be 7.2%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is covered by earnings (64% earnings payout ratio) but not covered by cash flows (189% cash payout ratio). The dividend has increased by an average of 22% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 23% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Reported Earnings • Feb 07Full year 2024 earnings released: EPS: ฿1.26 (vs ฿1.91 in FY 2023)Full year 2024 results: EPS: ฿1.26 (down from ฿1.91 in FY 2023). Revenue: ฿2.39b (down 25% from FY 2023). Net income: ฿503.7m (down 34% from FY 2023). Profit margin: 21% (down from 24% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.
お知らせ • Feb 07+ 1 more updateQuality Construction Products Public Company Limited, Annual General Meeting, Mar 21, 2025Quality Construction Products Public Company Limited, Annual General Meeting, Mar 21, 2025, at 14:00 SE Asia Standard Time.
New Risk • Nov 20New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 20% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (20% accrual ratio). Minor Risk Dividend is not well covered by cash flows (101% cash payout ratio).
Valuation Update With 7 Day Price Move • Sep 09Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ฿11.70, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 9x in the Basic Materials industry in Thailand. Total returns to shareholders of 152% over the past three years.
Valuation Update With 7 Day Price Move • Aug 23Investor sentiment improves as stock rises 18%After last week's 18% share price gain to ฿10.00, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 9x in the Basic Materials industry in Thailand. Total returns to shareholders of 126% over the past three years.
New Risk • Aug 13New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ฿3.50b (US$99.6m) 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (฿3.50b market cap, or US$99.6m).
Reported Earnings • Aug 09Second quarter 2024 earnings released: EPS: ฿0.27 (vs ฿0.39 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.27 (down from ฿0.39 in 2Q 2023). Revenue: ฿566.8m (down 25% from 2Q 2023). Net income: ฿108.8m (down 30% from 2Q 2023). Profit margin: 19% (down from 21% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth.
Buy Or Sell Opportunity • Jul 19Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 32% to ฿10.40. The fair value is estimated to be ฿13.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 73%.
お知らせ • May 11Quality Construction Products Public Company Limited Appoints Karoon Chandrangsu as Chairman of the Audit CommitteeQuality Construction Products Public Company Limited announced the appointment of Mr. Karoon Chandrangsu as Chairman of the Audit Committee the appointment shall take an effect as of May 8, 2024. The Audit Committee is consisted of: Chairman of the Audit Committee: Mr. Karoon Chandrangsu remaining term in office 3 years; Member of the Audit Committee: Mr. Panthep Supachaiyakit remaining term in office 2 year; Member of the Audit Committee: Ms. Somboon Supasiripinyo remaining term in office 3 years; Secretary of the Audit Committee: Mr. Pitaya Sereesataya.
Reported Earnings • May 09First quarter 2024 earnings released: EPS: ฿0.50 (vs ฿0.39 in 1Q 2023)First quarter 2024 results: EPS: ฿0.50 (up from ฿0.39 in 1Q 2023). Revenue: ฿720.6m (flat on 1Q 2023). Net income: ฿199.4m (up 27% from 1Q 2023). Profit margin: 28% (up from 22% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth.
New Risk • Apr 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 6.0% 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: 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 (6.0% average weekly change).
Valuation Update With 7 Day Price Move • Apr 01Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ฿14.60, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 11x in the Basic Materials industry in Thailand. Total returns to shareholders of 204% over the past three years.
Upcoming Dividend • Mar 22Upcoming dividend of ฿1.00 per shareEligible shareholders must have bought the stock before 29 March 2024. Payment date: 19 April 2024. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 5.7%. Lower than top quartile of Thai dividend payers (5.8%). Higher than average of industry peers (3.4%).
Declared Dividend • Feb 11Dividend increased to ฿1.00Dividend of ฿1.00 is 33% higher than last year. Ex-date: 29th March 2024 Payment date: 19th April 2024 Dividend yield will be 6.2%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 68% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
お知らせ • Feb 09Quality Construction Products Public Company Limited, Annual General Meeting, Mar 22, 2024Quality Construction Products Public Company Limited, Annual General Meeting, Mar 22, 2024, at 14:00 SE Asia Standard Time. Agenda: To acknowledge the Company's Annual Report for 2023; to approve the financial statements for the year ended December 31, 2023; to approve the 2023 profit allocation for 2023 dividend payment at the rate of THB 1 per share; to elect the directors in replacement of those who are due to retire by rotation; to appoint the Company's auditors and fix the audit fee for 2024; and to approve the remuneration of the Board of Directors and the Sub-committees for 2024.
Reported Earnings • Feb 09Full year 2023 earnings released: EPS: ฿1.91 (vs ฿0.77 in FY 2022)Full year 2023 results: EPS: ฿1.91 (up from ฿0.77 in FY 2022). Revenue: ฿3.18b (up 39% from FY 2022). Net income: ฿765.1m (up 149% from FY 2022). Profit margin: 24% (up from 13% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth.
お知らせ • Feb 09+ 1 more updateQuality Construction Products Public Company Limited Announces Board ChangesQuality Construction Products Public Company Limited announces that the Board of Directors Meeting held on February 8, 2024, has resolved to appoint Ms. Praiya Bhrommanop as the Company Secretary in replacement of Ms. Karnjanee Temsuk with the effective date from February 8, 2024, onwards.
Reported Earnings • Nov 09Third quarter 2023 earnings released: EPS: ฿0.58 (vs ฿0.23 in 3Q 2022)Third quarter 2023 results: EPS: ฿0.58 (up from ฿0.23 in 3Q 2022). Revenue: ฿883.9m (up 38% from 3Q 2022). Net income: ฿231.0m (up 149% from 3Q 2022). Profit margin: 26% (up from 14% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 48% per year, which means it is significantly lagging earnings growth.
お知らせ • Nov 09Quality Construction Products Public Company Limited Announces Management ChangesQuality Construction Products Public Company Limited announced that Mr. Chana Poomee has resigned as the Company's director. The Board of Directors Meeting held on November 8, 2023, has passed resolutions as follows:Elected Mr. Surachai Nimlaor to be a new director of the Company in replacement of Mr. Chana Poomee for the remaining term of Mr. Chana Poomee. Appointed Mr. Surachai Nimlaor to be member of the Executive Committee in replacement of Mr. Chana Poomee. Appointed Mr. Wiroat Rattanachaisit to be chairman of the Executive Committee in replacement of Mr. Nithi Patarachoke. Appointed Mr. Wiroat Rattanachaisit to be member of the Nomination, Remuneration and Corporate Governance Committee in replacement of Mr. Chana Poomee. These shall be effective from November 8, 2023 onwards.
Reported Earnings • Aug 10Second quarter 2023 earnings released: EPS: ฿0.39 (vs ฿0.13 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.39 (up from ฿0.13 in 2Q 2022). Revenue: ฿755.3m (up 47% from 2Q 2022). Net income: ฿154.8m (up 204% from 2Q 2022). Profit margin: 21% (up from 9.9% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year whereas the company’s share price has increased by 47% per year.
Valuation Update With 7 Day Price Move • Jun 27Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to ฿12.70, the stock trades at a trailing P/E ratio of 12.1x. Average trailing P/E is 15x in the Basic Materials industry in Thailand. Total returns to shareholders of 202% over the past three years.
Valuation Update With 7 Day Price Move • May 24Investor sentiment improves as stock rises 15%After last week's 15% share price gain to ฿14.50, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 16x in the Basic Materials industry in Thailand. Total returns to shareholders of 256% over the past three years.
Valuation Update With 7 Day Price Move • Apr 05Investor sentiment deteriorates as stock falls 22%After last week's 22% share price decline to ฿12.90, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 19x in the Basic Materials industry in Thailand. Total returns to shareholders of 221% over the past three years.
Upcoming Dividend • Mar 24Upcoming dividend of ฿0.75 per share at 4.2% yieldEligible shareholders must have bought the stock before 31 March 2023. Payment date: 21 April 2023. Payout ratio is on the higher end at 97%, however this is supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Thai dividend payers (5.5%). Higher than average of industry peers (3.3%).
Valuation Update With 7 Day Price Move • Mar 07Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ฿14.10, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 19x in the Basic Materials industry in Thailand. Total returns to shareholders of 254% over the past three years.
Valuation Update With 7 Day Price Move • Feb 14Investor sentiment improves as stock rises 23%After last week's 23% share price gain to ฿13.00, the stock trades at a trailing P/E ratio of 23.9x. Average trailing P/E is 20x in the Basic Materials industry in Thailand. Total returns to shareholders of 181% over the past three years.
Buying Opportunity • Jan 11Now 31% undervaluedOver the last 90 days, the stock is up 90%. The fair value is estimated to be ฿13.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.9% over the last 3 years. Earnings per share has declined by 4.0%.
Valuation Update With 7 Day Price Move • Dec 06Investor sentiment improved over the past weekAfter last week's 20% share price gain to ฿7.55, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 15x in the Basic Materials industry in Thailand. Total returns to shareholders of 69% over the past three years.
Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Somboon Supasiripinyo was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Aug 13Second quarter 2022 earnings released: EPS: ฿0.13 (vs ฿0.081 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.13 (up from ฿0.081 in 2Q 2021). Revenue: ฿513.5m (up 26% from 2Q 2021). Net income: ฿51.0m (up 58% from 2Q 2021). Profit margin: 9.9% (up from 7.9% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.
Buying Opportunity • Jun 13Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 11%. The fair value is estimated to be ฿6.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.8% over the last 3 years. Earnings per share has declined by 5.3%.
Buying Opportunity • May 28Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 13%. The fair value is estimated to be ฿6.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.8% over the last 3 years. Earnings per share has declined by 5.3%.
Reported Earnings • May 13First quarter 2022 earnings released: EPS: ฿0.11 (vs ฿0.15 in 1Q 2021)First quarter 2022 results: EPS: ฿0.11 (down from ฿0.15 in 1Q 2021). Revenue: ฿472.8m (up 2.4% from 1Q 2021). Net income: ฿45.9m (down 22% from 1Q 2021). Profit margin: 9.7% (down from 13% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.
Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Somboon Supasiripinyo was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Buying Opportunity • Apr 01Now 22% undervaluedOver the last 90 days, the stock is up 2.7%. The fair value is estimated to be ฿7.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.6% over the last 3 years. Earnings per share has grown by 4.1%.
Buying Opportunity • Mar 08Now 21% undervaluedOver the last 90 days, the stock is up 3.6%. The fair value is estimated to be ฿7.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.6% per annum over the last 3 years. Earnings per share has grown by 4.1% per annum over the last 3 years.
Reported Earnings • Feb 13Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: ฿0.36 (up from ฿0.28 in FY 2020). Revenue: ฿1.63b (down 4.9% from FY 2020). Net income: ฿143.7m (up 26% from FY 2020). Profit margin: 8.8% (up from 6.6% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 6% per year.
Reported Earnings • Nov 07Third quarter 2021 earnings released: EPS ฿0.06 (vs ฿0.026 loss in 3Q 2020)The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: ฿354.9m (down 11% from 3Q 2020). Net income: ฿24.2m (up ฿34.8m from 3Q 2020). Profit margin: 6.8% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.
Executive Departure • Aug 18Director Bunn Kasemsup has left the companyOn the 9th of August, Bunn Kasemsup's tenure as Director ended after 1.5 years in the role. We don't have any record of a personal shareholding under Bunn's name. Bunn is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 10.33 years.
Reported Earnings • Aug 10Second quarter 2021 earnings released: EPS ฿0.08 (vs ฿0.088 in 2Q 2020)The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿406.9m (down 2.5% from 2Q 2020). Net income: ฿32.3m (down 8.4% from 2Q 2020). Profit margin: 7.9% (down from 8.4% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
Reported Earnings • May 09First quarter 2021 earnings released: EPS ฿0.15 (vs ฿0.15 in 1Q 2020)The company reported a poor first quarter result with weaker earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: ฿461.7m (down 9.2% from 1Q 2020). Net income: ฿59.0m (down 5.1% from 1Q 2020). Profit margin: 13% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to ฿5.40, the stock trades at a trailing P/E ratio of 18.9x. Average trailing P/E is 17x in the Basic Materials industry in Thailand. Total loss to shareholders of 2.1% over the past three years.
Upcoming Dividend • Mar 29Upcoming dividend of ฿0.46 per shareEligible shareholders must have bought the stock before 05 April 2021. Payment date: 22 April 2021. Trailing yield: 7.6%. Within top quartile of Thai dividend payers (4.9%). Higher than average of industry peers (3.9%).
Valuation Update With 7 Day Price Move • Mar 19Investor sentiment improved over the past weekAfter last week's 20% share price gain to ฿6.60, the stock trades at a trailing P/E ratio of 23.2x. Average trailing P/E is 16x in the Basic Materials industry in Thailand. Total returns to shareholders of 14% over the past three years.
Is New 90 Day High Low • Mar 16New 90-day high: ฿5.80The company is up 23% from a price of ฿4.70 on 16 December 2020. Outperformed the Thai market which is up 6.0% over the last 90 days. Exceeded the Basic Materials industry, which is down 1.0% over the same period.
Reported Earnings • Feb 10Full year 2020 earnings releasedThe company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿1.72b (down 17% from FY 2019). Net income: ฿114.0m (down 37% from FY 2019). Profit margin: 6.6% (down from 8.7% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.
Is New 90 Day High Low • Feb 10New 90-day high: ฿5.45The company is up 16% from its price of ฿4.70 on 12 November 2020. The Thai market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 5.0% over the same period.
Reported Earnings • Nov 10Third quarter 2020 earnings released: ฿0.03 loss per shareThe company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: ฿399.1m (down 25% from 3Q 2019). Net loss: ฿10.5m (down 124% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings.
Is New 90 Day High Low • Oct 09New 90-day high: ฿5.00The company is up 4.0% from its price of ฿4.82 on 10 July 2020. The Thai market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is down 9.0% over the same period.