View ValuationTipco Asphalt 将来の成長Future 基準チェック /26Tipco Asphalt利益と収益がそれぞれ年間11.6%と0.3%増加すると予測されています。EPS は年間 増加すると予想されています。自己資本利益率は 3 年後に9.9% 11.8%なると予測されています。主要情報11.6%収益成長率11.80%EPS成長率Basic Materials 収益成長17.0%収益成長率0.3%将来の株主資本利益率9.91%アナリストカバレッジGood最終更新日07 May 2026今後の成長に関する最新情報Major Estimate Revision • Feb 26Consensus EPS estimates fall by 17%The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from ฿27.2b to ฿26.3b. EPS estimate also fell from ฿1.07 per share to ฿0.888 per share. Net income forecast to grow 23% next year vs 13% growth forecast for Basic Materials industry in Thailand. Consensus price target broadly unchanged at ฿16.97. Share price fell 7.3% to ฿13.90 over the past week.Major Estimate Revision • Jan 28Consensus EPS estimates fall by 11%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from ฿1.06 to ฿0.946 per share. Revenue forecast steady at ฿27.3b. Net income forecast to grow 12% next year vs 17% growth forecast for Basic Materials industry in Thailand. Consensus price target down from ฿17.44 to ฿17.08. Share price fell 2.8% to ฿14.10 over the past week.Major Estimate Revision • May 20Consensus EPS estimates increase by 15%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from ฿28.0b to ฿29.6b. EPS estimate increased from ฿1.17 to ฿1.35 per share. Net income forecast to grow 14% next year vs 27% growth forecast for Basic Materials industry in Thailand. Consensus price target of ฿19.03 unchanged from last update. Share price fell 5.1% to ฿14.80 over the past week.Price Target Changed • Apr 22Price target decreased by 8.5% to ฿19.03Down from ฿20.80, the current price target is an average from 6 analysts. New target price is 29% above last closing price of ฿14.70. Stock is down 6.4% over the past year. The company is forecast to post earnings per share of ฿1.17 for next year compared to ฿0.90 last year.Major Estimate Revision • Sep 27Consensus EPS estimates fall by 11%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿28.0b to ฿27.2b. EPS estimate also fell from ฿1.01 per share to ฿0.897 per share. Net income forecast to grow 201% next year vs 20% growth forecast for Basic Materials industry in Thailand. Consensus price target broadly unchanged at ฿19.00. Share price was steady at ฿18.10 over the past week.Major Estimate Revision • Sep 12Consensus EPS estimates fall by 14%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿28.3b to ฿28.0b. EPS estimate also fell from ฿1.17 per share to ฿1.01 per share. Net income forecast to grow 221% next year vs 19% growth forecast for Basic Materials industry in Thailand. Consensus price target broadly unchanged at ฿18.64. Share price was steady at ฿17.90 over the past week.すべての更新を表示Recent updatesMajor Estimate Revision • Feb 26Consensus EPS estimates fall by 17%The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from ฿27.2b to ฿26.3b. EPS estimate also fell from ฿1.07 per share to ฿0.888 per share. Net income forecast to grow 23% next year vs 13% growth forecast for Basic Materials industry in Thailand. Consensus price target broadly unchanged at ฿16.97. Share price fell 7.3% to ฿13.90 over the past week.Reported Earnings • Feb 21Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: ฿0.72 (down from ฿0.90 in FY 2024). Revenue: ฿27.2b (down 3.3% from FY 2024). Net income: ฿1.14b (down 20% from FY 2024). Profit margin: 4.2% (down from 5.0% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 5.6%. Earnings per share (EPS) also missed analyst estimates by 7.2%. Revenue is forecast to stay flat during the next 3 years compared to a 3.3% growth forecast for the Basic Materials industry in Asia. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.お知らせ • Feb 20Tipco Asphalt Public Company Limited, Annual General Meeting, Apr 09, 2026Tipco Asphalt Public Company Limited, Annual General Meeting, Apr 09, 2026, at 10:00 SE Asia Standard Time. Location: 5th floor auditorium, tipco tower 1, 118/1 rama 6 rd., phayathai sub-district, phayathai district, bangkok 10400, bangkok ThailandMajor Estimate Revision • Jan 28Consensus EPS estimates fall by 11%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from ฿1.06 to ฿0.946 per share. Revenue forecast steady at ฿27.3b. Net income forecast to grow 12% next year vs 17% growth forecast for Basic Materials industry in Thailand. Consensus price target down from ฿17.44 to ฿17.08. Share price fell 2.8% to ฿14.10 over the past week.Buy Or Sell Opportunity • Jan 06Now 22% undervaluedOver the last 90 days, the stock has risen 4.2% to ฿14.90. The fair value is estimated to be ฿19.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.9% over the last 3 years. Earnings per share has declined by 22%. Revenue is forecast to grow by 2.8% in 2 years. Earnings are forecast to grow by 16% in the next 2 years.Upcoming Dividend • Nov 14Upcoming dividend of ฿0.80 per shareEligible shareholders must have bought the stock before 21 November 2025. Payment date: 09 December 2025. Payout ratio is on the higher end at 90%, and the cash payout ratio is above 100%. Trailing yield: 6.3%. Lower than top quartile of Thai dividend payers (8.0%). Higher than average of industry peers (4.3%).New Risk • Nov 11New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 90% Cash payout ratio: 151% Dividend yield: 6.3% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company.Reported Earnings • Aug 14Second quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behindSecond quarter 2025 results: EPS: ฿0.25 (up from ฿0.061 in 2Q 2024). Revenue: ฿6.51b (up 18% from 2Q 2024). Net income: ฿400.5m (up 305% from 2Q 2024). Profit margin: 6.2% (up from 1.8% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 9.2%. Earnings per share (EPS) exceeded analyst estimates by 2.9%. Revenue is expected to decline by 2.5% p.a. on average during the next 3 years, while revenues in the Basic Materials industry in Asia are expected to grow by 2.3%. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.New Risk • Jul 04New major risk - Revenue and earnings growthEarnings have declined by 14% 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 Risk Earnings have declined by 14% per year over the past 5 years. Minor Risk Dividend is not well covered by cash flows (123% cash payout ratio).Major Estimate Revision • May 20Consensus EPS estimates increase by 15%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from ฿28.0b to ฿29.6b. EPS estimate increased from ฿1.17 to ฿1.35 per share. Net income forecast to grow 14% next year vs 27% growth forecast for Basic Materials industry in Thailand. Consensus price target of ฿19.03 unchanged from last update. Share price fell 5.1% to ฿14.80 over the past week.Reported Earnings • May 14First quarter 2025 earnings released: EPS: ฿0.28 (vs ฿0.005 in 1Q 2024)First quarter 2025 results: EPS: ฿0.28 (up from ฿0.005 in 1Q 2024). Revenue: ฿7.16b (up 24% from 1Q 2024). Net income: ฿444.4m (up ฿436.5m from 1Q 2024). Profit margin: 6.2% (up from 0.1% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 2.7% growth forecast for the Basic Materials industry in Asia. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.Price Target Changed • Apr 22Price target decreased by 8.5% to ฿19.03Down from ฿20.80, the current price target is an average from 6 analysts. New target price is 29% above last closing price of ฿14.70. Stock is down 6.4% over the past year. The company is forecast to post earnings per share of ฿1.17 for next year compared to ฿0.90 last year.お知らせ • Apr 09Tipco Asphalt Public Company Limited Approves Dividend for the Year Ended December 31, 2024, Payable on May 6, 2025Tipco Asphalt Public Company Limited at its 2025 annual general meeting of shareholders held on April 8, 2025, resolved to approve the dividend payment for the 2024 performance of THB 0.90 per share in the amount of THB 1,420,525,413. The record date of the share register book to determine the shareholders who have the rights to receive payment was 4 March 2025 and the dividend payment will be made on 6 May 2025.Declared Dividend • Feb 20Dividend of ฿0.90 announcedShareholders will receive a dividend of ฿0.90. Ex-date: 3rd March 2025 Payment date: 6th May 2025 Dividend yield will be 5.3%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is not covered by earnings (147% earnings payout ratio) nor is it covered by cash flows (dividend approximately 6x free cash flows). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 64% to bring the payout ratio under control. EPS is expected to grow by 34% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.Reported Earnings • Feb 18Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: ฿0.90 (down from ฿1.46 in FY 2023). Revenue: ฿28.2b (down 9.7% from FY 2023). Net income: ฿1.42b (down 39% from FY 2023). Profit margin: 5.0% (down from 7.4% in FY 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Basic Materials industry in Asia. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.お知らせ • Feb 17+ 1 more updateTipco Asphalt Public Company Limited, Annual General Meeting, Apr 08, 2025Tipco Asphalt Public Company Limited, Annual General Meeting, Apr 08, 2025, at 10:00 SE Asia Standard Time. Location: 5th floor auditorium, tipco tower 1, 118/1 rama 6 road, phaya thai, phaya thai district, bangkok 10400 ThailandBuy Or Sell Opportunity • Feb 05Now 22% undervalued after recent price dropOver the last 90 days, the stock has fallen 7.2% to ฿16.80. The fair value is estimated to be ฿21.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 15%. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 103% in the next 2 years.Buy Or Sell Opportunity • Jan 09Now 21% undervaluedOver the last 90 days, the stock has risen 1.1% to ฿18.30. The fair value is estimated to be ฿23.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 15%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to grow by 112% in the next 2 years.Buy Or Sell Opportunity • Dec 19Now 21% undervaluedOver the last 90 days, the stock has risen 3.4% to ฿18.50. The fair value is estimated to be ฿23.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 15%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to grow by 112% in the next 2 years.Reported Earnings • Nov 15Third quarter 2024 earnings: EPS misses analyst expectationsThird quarter 2024 results: EPS: ฿0.47 (up from ฿0.13 in 3Q 2023). Revenue: ฿9.10b (up 28% from 3Q 2023). Net income: ฿734.5m (up 264% from 3Q 2023). Profit margin: 8.1% (up from 2.8% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Basic Materials industry in Asia. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has remained flat, which means it is well ahead of earnings.Major Estimate Revision • Sep 27Consensus EPS estimates fall by 11%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿28.0b to ฿27.2b. EPS estimate also fell from ฿1.01 per share to ฿0.897 per share. Net income forecast to grow 201% next year vs 20% growth forecast for Basic Materials industry in Thailand. Consensus price target broadly unchanged at ฿19.00. Share price was steady at ฿18.10 over the past week.Major Estimate Revision • Sep 12Consensus EPS estimates fall by 14%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿28.3b to ฿28.0b. EPS estimate also fell from ฿1.17 per share to ฿1.01 per share. Net income forecast to grow 221% next year vs 19% growth forecast for Basic Materials industry in Thailand. Consensus price target broadly unchanged at ฿18.64. Share price was steady at ฿17.90 over the past week.Major Estimate Revision • Aug 20Consensus EPS estimates fall by 31%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿29.2b to ฿27.4b. EPS estimate also fell from ฿1.41 per share to ฿0.968 per share. Net income forecast to grow 235% next year vs 27% growth forecast for Basic Materials industry in Thailand. Consensus price target of ฿18.14 unchanged from last update. Share price was steady at ฿16.10 over the past week.Reported Earnings • Aug 14Second quarter 2024 earnings: EPS in line with expectations, revenues disappointSecond quarter 2024 results: EPS: ฿0.06 (down from ฿0.47 in 2Q 2023). Revenue: ฿5.54b (down 32% from 2Q 2023). Net income: ฿99.0m (down 87% from 2Q 2023). Profit margin: 1.8% (down from 9.2% in 2Q 2023). Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, while revenues in the Basic Materials industry in Asia are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.Reported Earnings • May 14First quarter 2024 earnings released: EPS: ฿0.005 (vs ฿0.71 in 1Q 2023)First quarter 2024 results: EPS: ฿0.005 (down from ฿0.71 in 1Q 2023). Revenue: ฿5.76b (down 37% from 1Q 2023). Net income: ฿7.88m (down 99% from 1Q 2023). Profit margin: 0.1% (down from 12% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 1.0% growth forecast for the Basic Materials industry in Asia. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.お知らせ • Mar 01Tipco Asphalt Public Company Limited Announces CFO ChangesTipco Asphalt Public Company Limited announced the termination of Tanawat Tangudomlert as Acting Chief Financial Officer. Effective Date of Termination is 29 February, 2024. The company also announced the appointment of Orn-A-Nong Witchucharn as Chief Financial Officer. Effective Date of Appointment is March 01, 2024.Upcoming Dividend • Feb 22Upcoming dividend of ฿1.00 per shareEligible shareholders must have bought the stock before 29 February 2024. Payment date: 26 April 2024. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 7.3%. Within top quartile of Thai dividend payers (6.6%). Higher than average of industry peers (3.3%).Reported Earnings • Feb 18Full year 2023 earnings: EPS misses analyst expectationsFull year 2023 results: EPS: ฿1.46 (down from ฿1.50 in FY 2022). Revenue: ฿31.3b (down 7.0% from FY 2022). Net income: ฿2.31b (down 2.6% from FY 2022). Profit margin: 7.4% (up from 7.0% in FY 2022). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.2%. Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 2.3% growth forecast for the Basic Materials industry in Asia. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 8% per year.Buy Or Sell Opportunity • Feb 18Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 10% to ฿16.30. The fair value is estimated to be ฿20.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has declined by 12%. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to grow by 19% in the next 2 years.Price Target Changed • Jan 25Price target decreased by 12% to ฿19.35Down from ฿21.90, the current price target is an average from 4 analysts. New target price is 19% above last closing price of ฿16.20. Stock is down 4.1% over the past year. The company is forecast to post earnings per share of ฿1.56 for next year compared to ฿1.50 last year.Reported Earnings • Nov 14Third quarter 2023 earnings: EPS and revenues miss analyst expectationsThird quarter 2023 results: EPS: ฿0.13 (down from ฿0.32 in 3Q 2022). Revenue: ฿7.10b (down 15% from 3Q 2022). Net income: ฿201.7m (down 60% from 3Q 2022). Profit margin: 2.8% (down from 6.1% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) also missed analyst estimates by 58%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Basic Materials industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has remained flat, which means it is well ahead of earnings.Price Target Changed • Oct 25Price target increased by 8.3% to ฿22.93Up from ฿21.18, the current price target is an average from 4 analysts. New target price is 27% above last closing price of ฿18.10. Stock is up 5.8% over the past year. The company is forecast to post earnings per share of ฿1.83 for next year compared to ฿1.50 last year.Price Target Changed • Sep 28Price target decreased by 8.5% to ฿21.18Down from ฿23.15, the current price target is an average from 4 analysts. New target price is 32% above last closing price of ฿16.00. Stock is down 3.0% over the past year. The company is forecast to post earnings per share of ฿1.79 for next year compared to ฿1.50 last year.Buying Opportunity • Sep 25Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 12%. The fair value is estimated to be ฿20.34, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.4% over the last 3 years. Earnings per share has declined by 9.6%. Revenue is forecast to decline by 1.5% in 2 years. Earnings is forecast to decline by 15% in the next 2 years.Upcoming Dividend • Aug 16Upcoming dividend of ฿0.25 per share at 7.4% yieldEligible shareholders must have bought the stock before 23 August 2023. Payment date: 07 September 2023. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 7.4%. Within top quartile of Thai dividend payers (6.4%). Higher than average of industry peers (2.6%).お知らせ • Aug 11Tipco Asphalt Public Company Limited Announces Cash Dividend for the Operating Period from 1 January 2023 to 30 June 2023, Payable on 7 September 2023Tipco Asphalt Public Company Limited announced cash dividend of THB 0.25 per share for the operating period from 1 January 2023 to 30 June 2023. Record date for the right to receive dividends is 24 August 2023. Ex-dividend date is 23 August 2023. Payment date is 7 September 2023.Reported Earnings • Aug 11Second quarter 2023 earnings released: EPS: ฿0.47 (vs ฿0.37 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.47 (up from ฿0.37 in 2Q 2022). Revenue: ฿8.10b (up 2.4% from 2Q 2022). Net income: ฿744.0m (up 27% from 2Q 2022). Profit margin: 9.2% (up from 7.4% in 2Q 2022). Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Basic Materials industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 11% per year.Price Target Changed • Jun 01Price target increased by 10% to ฿23.15Up from ฿21.00, the current price target is an average from 4 analysts. New target price is 27% above last closing price of ฿18.30. Stock is up 9.6% over the past year. The company is forecast to post earnings per share of ฿2.06 for next year compared to ฿1.50 last year.Reported Earnings • May 16First quarter 2023 earnings released: EPS: ฿0.71 (vs ฿0.14 in 1Q 2022)First quarter 2023 results: EPS: ฿0.71 (up from ฿0.14 in 1Q 2022). Revenue: ฿9.16b (up 29% from 1Q 2022). Net income: ฿1.13b (up 422% from 1Q 2022). Profit margin: 12% (up from 3.0% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Basic Materials industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 7% 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.Major Estimate Revision • Feb 24Consensus revenue estimates increase by 13%The consensus outlook for revenues in fiscal year 2023 has improved. 2023 revenue forecast increased from ฿31.2b to ฿35.4b. EPS estimate increased from ฿1.08 to ฿1.53 per share. Net income forecast to grow 1.5% next year vs 1.5% growth forecast for Basic Materials industry in Thailand. Consensus price target up from ฿16.18 to ฿19.73. Share price rose 7.0% to ฿19.80 over the past week.Upcoming Dividend • Feb 23Upcoming dividend of ฿1.00 per share at 5.4% yieldEligible shareholders must have bought the stock before 02 March 2023. Payment date: 26 April 2023. Payout ratio is on the higher end at 85%, however this is supported by cash flows. Trailing yield: 5.4%. Lower than top quartile of Thai dividend payers (5.5%). Higher than average of industry peers (4.9%).Reported Earnings • Feb 22Full year 2022 earnings released: EPS: ฿1.50 (vs ฿1.41 in FY 2021)Full year 2022 results: EPS: ฿1.50 (up from ฿1.41 in FY 2021). Revenue: ฿33.6b (up 24% from FY 2021). Net income: ฿2.37b (up 6.6% from FY 2021). Profit margin: 7.0% (down from 8.2% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Basic Materials industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.Major Estimate Revision • Jan 23Consensus EPS estimates increase by 14%The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from ฿30.8b to ฿31.8b. EPS estimate increased from ฿0.98 to ฿1.11 per share. Net income forecast to shrink 8.2% next year vs 0.5% growth forecast for Basic Materials industry in Thailand . Consensus price target up from ฿15.53 to ฿16.18. Share price was steady at ฿17.00 over the past week.Upcoming Dividend • Nov 16Upcoming dividend of ฿0.25 per shareEligible shareholders must have bought the stock before 22 November 2022. Payment date: 08 December 2022. Payout ratio is a comfortable 64% and the cash payout ratio is 98%. Trailing yield: 6.1%. Within top quartile of Thai dividend payers (5.6%). Higher than average of industry peers (4.9%).Buying Opportunity • Oct 11Now 20% undervaluedOver the last 90 days, the stock is up 7.5%. The fair value is estimated to be ฿21.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 6.5% in 2 years. Earnings is forecast to grow by 5.5% in the next 2 years.Reported Earnings • Aug 14Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindSecond quarter 2022 results: EPS: ฿0.37 (down from ฿0.55 in 2Q 2021). Revenue: ฿7.91b (up 2.0% from 2Q 2021). Net income: ฿587.0m (down 32% from 2Q 2021). Profit margin: 7.4% (down from 11% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 12%. Earnings per share (EPS) exceeded analyst estimates by 19%. Over the next year, revenue is forecast to grow 7.0%, compared to a 2.9% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 3% per year.Major Estimate Revision • May 19Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from ฿29.3b to ฿30.6b. EPS estimate fell from ฿1.27 to ฿1.04 per share. Net income forecast to shrink 18% next year vs 2.5% decline forecast for Basic Materials industry in Thailand. Consensus price target down from ฿17.33 to ฿15.65. Share price rose 4.4% to ฿16.70 over the past week.Price Target Changed • May 18Price target decreased to ฿15.78Down from ฿18.33, the current price target is an average from 5 analysts. New target price is 7.2% below last closing price of ฿17.00. Stock is down 13% over the past year. The company is forecast to post earnings per share of ฿1.27 for next year compared to ฿1.41 last year.Reported Earnings • May 15First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2022 results: EPS: ฿0.14 (down from ฿0.27 in 1Q 2021). Revenue: ฿7.14b (up 21% from 1Q 2021). Net income: ฿216.1m (down 49% from 1Q 2021). Profit margin: 3.0% (down from 7.2% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 5.2%. Earnings per share (EPS) exceeded analyst estimates by 2.3%. Over the next year, revenue is forecast to grow 2.4%, compared to a 2.5% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.Price Target Changed • Feb 24Price target decreased to ฿19.50Down from ฿21.00, the current price target is an average from 5 analysts. New target price is 7.7% above last closing price of ฿18.10. Stock is down 13% over the past year. The company is forecast to post earnings per share of ฿1.41 for next year compared to ฿1.41 last year.Upcoming Dividend • Feb 23Upcoming dividend of ฿0.80 per shareEligible shareholders must have bought the stock before 02 March 2022. Payment date: 28 April 2022. Payout ratio is on the higher end at 89%, and the cash payout ratio is above 100%. Trailing yield: 8.6%. Within top quartile of Thai dividend payers (5.0%). Higher than average of industry peers (5.1%).Reported Earnings • Feb 18Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2021 results: EPS: ฿1.41 (down from ฿2.28 in FY 2020). Revenue: ฿27.2b (up 3.5% from FY 2020). Net income: ฿2.22b (down 38% from FY 2020). Profit margin: 8.2% (down from 14% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 5.2%. Earnings per share (EPS) exceeded analyst estimates by 2.3%. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.Reported Earnings • Nov 13Third quarter 2021 earnings released: EPS ฿0.24 (vs ฿1.18 in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿6.89b (down 20% from 3Q 2020). Net income: ฿378.4m (down 80% from 3Q 2020). Profit margin: 5.5% (down from 22% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Aug 17Upcoming dividend of ฿0.25 per shareEligible shareholders must have bought the stock before 24 August 2021. Payment date: 09 September 2021. Trailing yield: 8.0%. Within top quartile of Thai dividend payers (5.0%). Higher than average of industry peers (4.5%).Reported Earnings • Aug 15Second quarter 2021 earnings released: EPS ฿0.55 (vs ฿1.09 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: ฿7.76b (up 18% from 2Q 2020). Net income: ฿867.5m (down 50% from 2Q 2020). Profit margin: 11% (down from 26% 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 49% 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 • May 14First quarter 2021 earnings released: EPS ฿0.27 (vs ฿0.50 loss in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿5.90b (up 15% from 1Q 2020). Net income: ฿422.2m (up ฿1.21b from 1Q 2020). Profit margin: 7.2% (up from net loss in 1Q 2020). The move to profitability was primarily driven by higher revenue. 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 2% per year, which means it is significantly lagging earnings growth.Executive Departure • Mar 02Chief Financial Officer has left the companyOn the 28th of February, Koh Huat's tenure in the role of Chief Financial Officer ended. We don't have any record of a personal shareholding under Koh's name. A total of 2 executives have left over the last 12 months.Major Estimate Revision • Mar 02Analysts update estimatesThe 2021 consensus revenue estimate was lowered from ฿30.5b to ฿26.6b. Earning per share (EPS) estimate received an upgrade, with analysts raising their estimates from ฿1.32 to ฿1.40 for the same period. Net income is expected to shrink by 39% next year compared to 5.8% growth forecast for the Basic Materials industry in Thailand . The consensus price target of ฿21.81 was unchanged from the last update. Share price is down by 3.4% to ฿20.10 over the past week.Price Target Changed • Feb 03Price target lowered to ฿20.73Down from ฿22.39, the current price target is an average from 5 analysts. The new target price is close to the current share price of ฿20.60. As of last close, the stock is down 3.7% over the past year.Upcoming Dividend • Jan 20Upcoming Dividend of ฿0.30 Per ShareWill be paid on the 9th of February to those who are registered shareholders by the 27th of January. The trailing yield of 7.0% is in the top quartile of Thai dividend payers (6.3%), and it is higher than industry peers (3.4%).Is New 90 Day High Low • Jan 14New 90-day high: ฿21.10The company is up 44% from its price of ฿14.70 on 16 October 2020. The Thai market is up 25% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿29.75 per share.Major Estimate Revision • Nov 13Analysts update estimatesThe 2020 consensus revenue estimate was lowered from ฿29.9b to ฿29.1b. Earnings per share (EPS) increased from ฿1.70 to ฿2.22 for the same period. Net income is expected to shrink by 27% next year compared to 7.0% growth forecast for the Basic Materials industry in Thailand . The consensus price target increased from ฿21.39 to ฿22.39. Share price is up 15% to ฿18.70 over the past week.Price Target Changed • Nov 11Price target raised to ฿21.89Up from ฿20.31, the current price target is an average from 5 analysts. The new target price is 16% above the current share price of ฿18.80. As of last close, the stock is down 11% over the past year.Reported Earnings • Nov 07Third quarter 2020 earnings released: EPS ฿1.18The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: ฿8.60b (down 9.0% from 3Q 2019). Net income: ฿1.86b (up 162% from 3Q 2019). Profit margin: 22% (up from 7.5% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.Analyst Estimate Surprise Post Earnings • Nov 07Revenue and earnings miss expectationsRevenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates by 4.1%. Over the next year, revenue is expected to shrink by 2.2% compared to a 4.6% growth forecast for the Basic Materials industry in Thailand.Is New 90 Day High Low • Oct 15New 90-day low: ฿14.80The company is down 44% from its price of ฿26.50 on 17 July 2020. The Thai market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is down 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿13.13 per share.Is New 90 Day High Low • Sep 30New 90-day low: ฿15.20The company is down 41% from its price of ฿25.75 on 02 July 2020. The Thai market is down 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is down 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿12.31 per share.業績と収益の成長予測SET:TASCO - アナリストの将来予測と過去の財務データ ( )THB Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/202827,0601,4992,0812,217312/31/202727,2841,6672,1502,483612/31/202626,0961,4001,3482,153512/31/202527,1421,1372,4803,257N/A9/30/202527,9411,6009091,553N/A6/30/202530,5152,1551,5422,048N/A3/31/202529,5431,8541,1581,708N/A12/31/202428,1701,417285870N/A9/30/202427,2421,0732,8243,429N/A6/30/202425,2765407601,393N/A3/31/202427,8501,1851,8342,404N/A12/31/202331,2662,3063,7414,158N/A9/30/202334,6013,1283,8764,232N/A6/30/202335,8293,4364,2344,587N/A3/31/202335,6513,2791,8782,290N/A12/31/202233,6152,3672,4812,900N/A9/30/202230,0301,8641,2851,787N/A6/30/202228,5941,7331,1261,619N/A3/31/202228,4422,0141,3491,840N/A12/31/202127,1862,220233744N/A9/30/202126,5152,4621,8982,441N/A6/30/202128,2203,9465,3225,908N/A3/31/202127,0354,7986,4787,150N/A12/31/202026,2793,5924,8465,553N/A9/30/202029,8943,4383,0204,302N/A6/30/202030,8012,2881,2892,668N/A3/31/202035,0301,6222,3843,711N/A12/31/201937,0133,1235,1306,476N/A9/30/201936,9922,616N/A4,452N/A6/30/201934,5211,910N/A612N/A3/31/201929,480978N/A-931N/A12/31/201827,632564N/A-2,621N/A9/30/201824,596986N/A-909N/A6/30/201822,7281,381N/A883N/A3/31/201825,1731,604N/A2,862N/A12/31/201728,2602,537N/A2,355N/A9/30/201728,8802,915N/A2,774N/A6/30/201728,5872,830N/A2,121N/A3/31/201725,9513,175N/A2,107N/A12/31/201624,2293,110N/A4,835N/A9/30/201626,1903,360N/A5,855N/A6/30/201630,6334,498N/A6,951N/A3/31/201635,5685,126N/A7,182N/A12/31/201537,2235,079N/A8,359N/A9/30/201539,0824,417N/A8,989N/A6/30/201541,1533,388N/A9,779N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: TASCOの予測収益成長率 (年間11.6% ) は 貯蓄率 ( 2.2% ) を上回っています。収益対市場: TASCOの収益 ( 11.6% ) はTH市場 ( 11.2% ) よりも速いペースで成長すると予測されています。高成長収益: TASCOの収益は増加すると予測されていますが、大幅には増加しません。収益対市場: TASCOの収益 ( 0.3% ) TH市場 ( 9.6% ) よりも低い成長が予測されています。高い収益成長: TASCOの収益 ( 0.3% ) 20%よりも低い成長が予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: TASCOの 自己資本利益率 は、3年後には低くなると予測されています ( 9.9 %)。成長企業の発掘7D1Y7D1Y7D1YMaterials 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/07 11:16終値2026/05/07 00:00収益2025/12/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Tipco Asphalt Public Company Limited 6 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。10 アナリスト機関Prasit RattanakijkamolAsia Plus Securities Company LimitedSuwat SinsadokCGS InternationalSasikarn UdomvejDBS Bank Ltd7 その他のアナリストを表示
Major Estimate Revision • Feb 26Consensus EPS estimates fall by 17%The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from ฿27.2b to ฿26.3b. EPS estimate also fell from ฿1.07 per share to ฿0.888 per share. Net income forecast to grow 23% next year vs 13% growth forecast for Basic Materials industry in Thailand. Consensus price target broadly unchanged at ฿16.97. Share price fell 7.3% to ฿13.90 over the past week.
Major Estimate Revision • Jan 28Consensus EPS estimates fall by 11%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from ฿1.06 to ฿0.946 per share. Revenue forecast steady at ฿27.3b. Net income forecast to grow 12% next year vs 17% growth forecast for Basic Materials industry in Thailand. Consensus price target down from ฿17.44 to ฿17.08. Share price fell 2.8% to ฿14.10 over the past week.
Major Estimate Revision • May 20Consensus EPS estimates increase by 15%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from ฿28.0b to ฿29.6b. EPS estimate increased from ฿1.17 to ฿1.35 per share. Net income forecast to grow 14% next year vs 27% growth forecast for Basic Materials industry in Thailand. Consensus price target of ฿19.03 unchanged from last update. Share price fell 5.1% to ฿14.80 over the past week.
Price Target Changed • Apr 22Price target decreased by 8.5% to ฿19.03Down from ฿20.80, the current price target is an average from 6 analysts. New target price is 29% above last closing price of ฿14.70. Stock is down 6.4% over the past year. The company is forecast to post earnings per share of ฿1.17 for next year compared to ฿0.90 last year.
Major Estimate Revision • Sep 27Consensus EPS estimates fall by 11%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿28.0b to ฿27.2b. EPS estimate also fell from ฿1.01 per share to ฿0.897 per share. Net income forecast to grow 201% next year vs 20% growth forecast for Basic Materials industry in Thailand. Consensus price target broadly unchanged at ฿19.00. Share price was steady at ฿18.10 over the past week.
Major Estimate Revision • Sep 12Consensus EPS estimates fall by 14%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿28.3b to ฿28.0b. EPS estimate also fell from ฿1.17 per share to ฿1.01 per share. Net income forecast to grow 221% next year vs 19% growth forecast for Basic Materials industry in Thailand. Consensus price target broadly unchanged at ฿18.64. Share price was steady at ฿17.90 over the past week.
Major Estimate Revision • Feb 26Consensus EPS estimates fall by 17%The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from ฿27.2b to ฿26.3b. EPS estimate also fell from ฿1.07 per share to ฿0.888 per share. Net income forecast to grow 23% next year vs 13% growth forecast for Basic Materials industry in Thailand. Consensus price target broadly unchanged at ฿16.97. Share price fell 7.3% to ฿13.90 over the past week.
Reported Earnings • Feb 21Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: ฿0.72 (down from ฿0.90 in FY 2024). Revenue: ฿27.2b (down 3.3% from FY 2024). Net income: ฿1.14b (down 20% from FY 2024). Profit margin: 4.2% (down from 5.0% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 5.6%. Earnings per share (EPS) also missed analyst estimates by 7.2%. Revenue is forecast to stay flat during the next 3 years compared to a 3.3% growth forecast for the Basic Materials industry in Asia. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.
お知らせ • Feb 20Tipco Asphalt Public Company Limited, Annual General Meeting, Apr 09, 2026Tipco Asphalt Public Company Limited, Annual General Meeting, Apr 09, 2026, at 10:00 SE Asia Standard Time. Location: 5th floor auditorium, tipco tower 1, 118/1 rama 6 rd., phayathai sub-district, phayathai district, bangkok 10400, bangkok Thailand
Major Estimate Revision • Jan 28Consensus EPS estimates fall by 11%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from ฿1.06 to ฿0.946 per share. Revenue forecast steady at ฿27.3b. Net income forecast to grow 12% next year vs 17% growth forecast for Basic Materials industry in Thailand. Consensus price target down from ฿17.44 to ฿17.08. Share price fell 2.8% to ฿14.10 over the past week.
Buy Or Sell Opportunity • Jan 06Now 22% undervaluedOver the last 90 days, the stock has risen 4.2% to ฿14.90. The fair value is estimated to be ฿19.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.9% over the last 3 years. Earnings per share has declined by 22%. Revenue is forecast to grow by 2.8% in 2 years. Earnings are forecast to grow by 16% in the next 2 years.
Upcoming Dividend • Nov 14Upcoming dividend of ฿0.80 per shareEligible shareholders must have bought the stock before 21 November 2025. Payment date: 09 December 2025. Payout ratio is on the higher end at 90%, and the cash payout ratio is above 100%. Trailing yield: 6.3%. Lower than top quartile of Thai dividend payers (8.0%). Higher than average of industry peers (4.3%).
New Risk • Nov 11New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 90% Cash payout ratio: 151% Dividend yield: 6.3% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company.
Reported Earnings • Aug 14Second quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behindSecond quarter 2025 results: EPS: ฿0.25 (up from ฿0.061 in 2Q 2024). Revenue: ฿6.51b (up 18% from 2Q 2024). Net income: ฿400.5m (up 305% from 2Q 2024). Profit margin: 6.2% (up from 1.8% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 9.2%. Earnings per share (EPS) exceeded analyst estimates by 2.9%. Revenue is expected to decline by 2.5% p.a. on average during the next 3 years, while revenues in the Basic Materials industry in Asia are expected to grow by 2.3%. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.
New Risk • Jul 04New major risk - Revenue and earnings growthEarnings have declined by 14% 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 Risk Earnings have declined by 14% per year over the past 5 years. Minor Risk Dividend is not well covered by cash flows (123% cash payout ratio).
Major Estimate Revision • May 20Consensus EPS estimates increase by 15%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from ฿28.0b to ฿29.6b. EPS estimate increased from ฿1.17 to ฿1.35 per share. Net income forecast to grow 14% next year vs 27% growth forecast for Basic Materials industry in Thailand. Consensus price target of ฿19.03 unchanged from last update. Share price fell 5.1% to ฿14.80 over the past week.
Reported Earnings • May 14First quarter 2025 earnings released: EPS: ฿0.28 (vs ฿0.005 in 1Q 2024)First quarter 2025 results: EPS: ฿0.28 (up from ฿0.005 in 1Q 2024). Revenue: ฿7.16b (up 24% from 1Q 2024). Net income: ฿444.4m (up ฿436.5m from 1Q 2024). Profit margin: 6.2% (up from 0.1% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 2.7% growth forecast for the Basic Materials industry in Asia. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.
Price Target Changed • Apr 22Price target decreased by 8.5% to ฿19.03Down from ฿20.80, the current price target is an average from 6 analysts. New target price is 29% above last closing price of ฿14.70. Stock is down 6.4% over the past year. The company is forecast to post earnings per share of ฿1.17 for next year compared to ฿0.90 last year.
お知らせ • Apr 09Tipco Asphalt Public Company Limited Approves Dividend for the Year Ended December 31, 2024, Payable on May 6, 2025Tipco Asphalt Public Company Limited at its 2025 annual general meeting of shareholders held on April 8, 2025, resolved to approve the dividend payment for the 2024 performance of THB 0.90 per share in the amount of THB 1,420,525,413. The record date of the share register book to determine the shareholders who have the rights to receive payment was 4 March 2025 and the dividend payment will be made on 6 May 2025.
Declared Dividend • Feb 20Dividend of ฿0.90 announcedShareholders will receive a dividend of ฿0.90. Ex-date: 3rd March 2025 Payment date: 6th May 2025 Dividend yield will be 5.3%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is not covered by earnings (147% earnings payout ratio) nor is it covered by cash flows (dividend approximately 6x free cash flows). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 64% to bring the payout ratio under control. EPS is expected to grow by 34% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.
Reported Earnings • Feb 18Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: ฿0.90 (down from ฿1.46 in FY 2023). Revenue: ฿28.2b (down 9.7% from FY 2023). Net income: ฿1.42b (down 39% from FY 2023). Profit margin: 5.0% (down from 7.4% in FY 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Basic Materials industry in Asia. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.
お知らせ • Feb 17+ 1 more updateTipco Asphalt Public Company Limited, Annual General Meeting, Apr 08, 2025Tipco Asphalt Public Company Limited, Annual General Meeting, Apr 08, 2025, at 10:00 SE Asia Standard Time. Location: 5th floor auditorium, tipco tower 1, 118/1 rama 6 road, phaya thai, phaya thai district, bangkok 10400 Thailand
Buy Or Sell Opportunity • Feb 05Now 22% undervalued after recent price dropOver the last 90 days, the stock has fallen 7.2% to ฿16.80. The fair value is estimated to be ฿21.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 15%. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 103% in the next 2 years.
Buy Or Sell Opportunity • Jan 09Now 21% undervaluedOver the last 90 days, the stock has risen 1.1% to ฿18.30. The fair value is estimated to be ฿23.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 15%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to grow by 112% in the next 2 years.
Buy Or Sell Opportunity • Dec 19Now 21% undervaluedOver the last 90 days, the stock has risen 3.4% to ฿18.50. The fair value is estimated to be ฿23.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 15%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to grow by 112% in the next 2 years.
Reported Earnings • Nov 15Third quarter 2024 earnings: EPS misses analyst expectationsThird quarter 2024 results: EPS: ฿0.47 (up from ฿0.13 in 3Q 2023). Revenue: ฿9.10b (up 28% from 3Q 2023). Net income: ฿734.5m (up 264% from 3Q 2023). Profit margin: 8.1% (up from 2.8% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Basic Materials industry in Asia. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
Major Estimate Revision • Sep 27Consensus EPS estimates fall by 11%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿28.0b to ฿27.2b. EPS estimate also fell from ฿1.01 per share to ฿0.897 per share. Net income forecast to grow 201% next year vs 20% growth forecast for Basic Materials industry in Thailand. Consensus price target broadly unchanged at ฿19.00. Share price was steady at ฿18.10 over the past week.
Major Estimate Revision • Sep 12Consensus EPS estimates fall by 14%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿28.3b to ฿28.0b. EPS estimate also fell from ฿1.17 per share to ฿1.01 per share. Net income forecast to grow 221% next year vs 19% growth forecast for Basic Materials industry in Thailand. Consensus price target broadly unchanged at ฿18.64. Share price was steady at ฿17.90 over the past week.
Major Estimate Revision • Aug 20Consensus EPS estimates fall by 31%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿29.2b to ฿27.4b. EPS estimate also fell from ฿1.41 per share to ฿0.968 per share. Net income forecast to grow 235% next year vs 27% growth forecast for Basic Materials industry in Thailand. Consensus price target of ฿18.14 unchanged from last update. Share price was steady at ฿16.10 over the past week.
Reported Earnings • Aug 14Second quarter 2024 earnings: EPS in line with expectations, revenues disappointSecond quarter 2024 results: EPS: ฿0.06 (down from ฿0.47 in 2Q 2023). Revenue: ฿5.54b (down 32% from 2Q 2023). Net income: ฿99.0m (down 87% from 2Q 2023). Profit margin: 1.8% (down from 9.2% in 2Q 2023). Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, while revenues in the Basic Materials industry in Asia are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.
Reported Earnings • May 14First quarter 2024 earnings released: EPS: ฿0.005 (vs ฿0.71 in 1Q 2023)First quarter 2024 results: EPS: ฿0.005 (down from ฿0.71 in 1Q 2023). Revenue: ฿5.76b (down 37% from 1Q 2023). Net income: ฿7.88m (down 99% from 1Q 2023). Profit margin: 0.1% (down from 12% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 1.0% growth forecast for the Basic Materials industry in Asia. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.
お知らせ • Mar 01Tipco Asphalt Public Company Limited Announces CFO ChangesTipco Asphalt Public Company Limited announced the termination of Tanawat Tangudomlert as Acting Chief Financial Officer. Effective Date of Termination is 29 February, 2024. The company also announced the appointment of Orn-A-Nong Witchucharn as Chief Financial Officer. Effective Date of Appointment is March 01, 2024.
Upcoming Dividend • Feb 22Upcoming dividend of ฿1.00 per shareEligible shareholders must have bought the stock before 29 February 2024. Payment date: 26 April 2024. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 7.3%. Within top quartile of Thai dividend payers (6.6%). Higher than average of industry peers (3.3%).
Reported Earnings • Feb 18Full year 2023 earnings: EPS misses analyst expectationsFull year 2023 results: EPS: ฿1.46 (down from ฿1.50 in FY 2022). Revenue: ฿31.3b (down 7.0% from FY 2022). Net income: ฿2.31b (down 2.6% from FY 2022). Profit margin: 7.4% (up from 7.0% in FY 2022). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.2%. Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 2.3% growth forecast for the Basic Materials industry in Asia. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 8% per year.
Buy Or Sell Opportunity • Feb 18Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 10% to ฿16.30. The fair value is estimated to be ฿20.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has declined by 12%. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to grow by 19% in the next 2 years.
Price Target Changed • Jan 25Price target decreased by 12% to ฿19.35Down from ฿21.90, the current price target is an average from 4 analysts. New target price is 19% above last closing price of ฿16.20. Stock is down 4.1% over the past year. The company is forecast to post earnings per share of ฿1.56 for next year compared to ฿1.50 last year.
Reported Earnings • Nov 14Third quarter 2023 earnings: EPS and revenues miss analyst expectationsThird quarter 2023 results: EPS: ฿0.13 (down from ฿0.32 in 3Q 2022). Revenue: ฿7.10b (down 15% from 3Q 2022). Net income: ฿201.7m (down 60% from 3Q 2022). Profit margin: 2.8% (down from 6.1% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) also missed analyst estimates by 58%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Basic Materials industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
Price Target Changed • Oct 25Price target increased by 8.3% to ฿22.93Up from ฿21.18, the current price target is an average from 4 analysts. New target price is 27% above last closing price of ฿18.10. Stock is up 5.8% over the past year. The company is forecast to post earnings per share of ฿1.83 for next year compared to ฿1.50 last year.
Price Target Changed • Sep 28Price target decreased by 8.5% to ฿21.18Down from ฿23.15, the current price target is an average from 4 analysts. New target price is 32% above last closing price of ฿16.00. Stock is down 3.0% over the past year. The company is forecast to post earnings per share of ฿1.79 for next year compared to ฿1.50 last year.
Buying Opportunity • Sep 25Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 12%. The fair value is estimated to be ฿20.34, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.4% over the last 3 years. Earnings per share has declined by 9.6%. Revenue is forecast to decline by 1.5% in 2 years. Earnings is forecast to decline by 15% in the next 2 years.
Upcoming Dividend • Aug 16Upcoming dividend of ฿0.25 per share at 7.4% yieldEligible shareholders must have bought the stock before 23 August 2023. Payment date: 07 September 2023. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 7.4%. Within top quartile of Thai dividend payers (6.4%). Higher than average of industry peers (2.6%).
お知らせ • Aug 11Tipco Asphalt Public Company Limited Announces Cash Dividend for the Operating Period from 1 January 2023 to 30 June 2023, Payable on 7 September 2023Tipco Asphalt Public Company Limited announced cash dividend of THB 0.25 per share for the operating period from 1 January 2023 to 30 June 2023. Record date for the right to receive dividends is 24 August 2023. Ex-dividend date is 23 August 2023. Payment date is 7 September 2023.
Reported Earnings • Aug 11Second quarter 2023 earnings released: EPS: ฿0.47 (vs ฿0.37 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.47 (up from ฿0.37 in 2Q 2022). Revenue: ฿8.10b (up 2.4% from 2Q 2022). Net income: ฿744.0m (up 27% from 2Q 2022). Profit margin: 9.2% (up from 7.4% in 2Q 2022). Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Basic Materials industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 11% per year.
Price Target Changed • Jun 01Price target increased by 10% to ฿23.15Up from ฿21.00, the current price target is an average from 4 analysts. New target price is 27% above last closing price of ฿18.30. Stock is up 9.6% over the past year. The company is forecast to post earnings per share of ฿2.06 for next year compared to ฿1.50 last year.
Reported Earnings • May 16First quarter 2023 earnings released: EPS: ฿0.71 (vs ฿0.14 in 1Q 2022)First quarter 2023 results: EPS: ฿0.71 (up from ฿0.14 in 1Q 2022). Revenue: ฿9.16b (up 29% from 1Q 2022). Net income: ฿1.13b (up 422% from 1Q 2022). Profit margin: 12% (up from 3.0% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Basic Materials industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 7% 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.
Major Estimate Revision • Feb 24Consensus revenue estimates increase by 13%The consensus outlook for revenues in fiscal year 2023 has improved. 2023 revenue forecast increased from ฿31.2b to ฿35.4b. EPS estimate increased from ฿1.08 to ฿1.53 per share. Net income forecast to grow 1.5% next year vs 1.5% growth forecast for Basic Materials industry in Thailand. Consensus price target up from ฿16.18 to ฿19.73. Share price rose 7.0% to ฿19.80 over the past week.
Upcoming Dividend • Feb 23Upcoming dividend of ฿1.00 per share at 5.4% yieldEligible shareholders must have bought the stock before 02 March 2023. Payment date: 26 April 2023. Payout ratio is on the higher end at 85%, however this is supported by cash flows. Trailing yield: 5.4%. Lower than top quartile of Thai dividend payers (5.5%). Higher than average of industry peers (4.9%).
Reported Earnings • Feb 22Full year 2022 earnings released: EPS: ฿1.50 (vs ฿1.41 in FY 2021)Full year 2022 results: EPS: ฿1.50 (up from ฿1.41 in FY 2021). Revenue: ฿33.6b (up 24% from FY 2021). Net income: ฿2.37b (up 6.6% from FY 2021). Profit margin: 7.0% (down from 8.2% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Basic Materials industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.
Major Estimate Revision • Jan 23Consensus EPS estimates increase by 14%The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from ฿30.8b to ฿31.8b. EPS estimate increased from ฿0.98 to ฿1.11 per share. Net income forecast to shrink 8.2% next year vs 0.5% growth forecast for Basic Materials industry in Thailand . Consensus price target up from ฿15.53 to ฿16.18. Share price was steady at ฿17.00 over the past week.
Upcoming Dividend • Nov 16Upcoming dividend of ฿0.25 per shareEligible shareholders must have bought the stock before 22 November 2022. Payment date: 08 December 2022. Payout ratio is a comfortable 64% and the cash payout ratio is 98%. Trailing yield: 6.1%. Within top quartile of Thai dividend payers (5.6%). Higher than average of industry peers (4.9%).
Buying Opportunity • Oct 11Now 20% undervaluedOver the last 90 days, the stock is up 7.5%. The fair value is estimated to be ฿21.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 6.5% in 2 years. Earnings is forecast to grow by 5.5% in the next 2 years.
Reported Earnings • Aug 14Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindSecond quarter 2022 results: EPS: ฿0.37 (down from ฿0.55 in 2Q 2021). Revenue: ฿7.91b (up 2.0% from 2Q 2021). Net income: ฿587.0m (down 32% from 2Q 2021). Profit margin: 7.4% (down from 11% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 12%. Earnings per share (EPS) exceeded analyst estimates by 19%. Over the next year, revenue is forecast to grow 7.0%, compared to a 2.9% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 3% per year.
Major Estimate Revision • May 19Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from ฿29.3b to ฿30.6b. EPS estimate fell from ฿1.27 to ฿1.04 per share. Net income forecast to shrink 18% next year vs 2.5% decline forecast for Basic Materials industry in Thailand. Consensus price target down from ฿17.33 to ฿15.65. Share price rose 4.4% to ฿16.70 over the past week.
Price Target Changed • May 18Price target decreased to ฿15.78Down from ฿18.33, the current price target is an average from 5 analysts. New target price is 7.2% below last closing price of ฿17.00. Stock is down 13% over the past year. The company is forecast to post earnings per share of ฿1.27 for next year compared to ฿1.41 last year.
Reported Earnings • May 15First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2022 results: EPS: ฿0.14 (down from ฿0.27 in 1Q 2021). Revenue: ฿7.14b (up 21% from 1Q 2021). Net income: ฿216.1m (down 49% from 1Q 2021). Profit margin: 3.0% (down from 7.2% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 5.2%. Earnings per share (EPS) exceeded analyst estimates by 2.3%. Over the next year, revenue is forecast to grow 2.4%, compared to a 2.5% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.
Price Target Changed • Feb 24Price target decreased to ฿19.50Down from ฿21.00, the current price target is an average from 5 analysts. New target price is 7.7% above last closing price of ฿18.10. Stock is down 13% over the past year. The company is forecast to post earnings per share of ฿1.41 for next year compared to ฿1.41 last year.
Upcoming Dividend • Feb 23Upcoming dividend of ฿0.80 per shareEligible shareholders must have bought the stock before 02 March 2022. Payment date: 28 April 2022. Payout ratio is on the higher end at 89%, and the cash payout ratio is above 100%. Trailing yield: 8.6%. Within top quartile of Thai dividend payers (5.0%). Higher than average of industry peers (5.1%).
Reported Earnings • Feb 18Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2021 results: EPS: ฿1.41 (down from ฿2.28 in FY 2020). Revenue: ฿27.2b (up 3.5% from FY 2020). Net income: ฿2.22b (down 38% from FY 2020). Profit margin: 8.2% (down from 14% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 5.2%. Earnings per share (EPS) exceeded analyst estimates by 2.3%. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Nov 13Third quarter 2021 earnings released: EPS ฿0.24 (vs ฿1.18 in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿6.89b (down 20% from 3Q 2020). Net income: ฿378.4m (down 80% from 3Q 2020). Profit margin: 5.5% (down from 22% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Aug 17Upcoming dividend of ฿0.25 per shareEligible shareholders must have bought the stock before 24 August 2021. Payment date: 09 September 2021. Trailing yield: 8.0%. Within top quartile of Thai dividend payers (5.0%). Higher than average of industry peers (4.5%).
Reported Earnings • Aug 15Second quarter 2021 earnings released: EPS ฿0.55 (vs ฿1.09 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: ฿7.76b (up 18% from 2Q 2020). Net income: ฿867.5m (down 50% from 2Q 2020). Profit margin: 11% (down from 26% 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 49% 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 • May 14First quarter 2021 earnings released: EPS ฿0.27 (vs ฿0.50 loss in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿5.90b (up 15% from 1Q 2020). Net income: ฿422.2m (up ฿1.21b from 1Q 2020). Profit margin: 7.2% (up from net loss in 1Q 2020). The move to profitability was primarily driven by higher revenue. 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 2% per year, which means it is significantly lagging earnings growth.
Executive Departure • Mar 02Chief Financial Officer has left the companyOn the 28th of February, Koh Huat's tenure in the role of Chief Financial Officer ended. We don't have any record of a personal shareholding under Koh's name. A total of 2 executives have left over the last 12 months.
Major Estimate Revision • Mar 02Analysts update estimatesThe 2021 consensus revenue estimate was lowered from ฿30.5b to ฿26.6b. Earning per share (EPS) estimate received an upgrade, with analysts raising their estimates from ฿1.32 to ฿1.40 for the same period. Net income is expected to shrink by 39% next year compared to 5.8% growth forecast for the Basic Materials industry in Thailand . The consensus price target of ฿21.81 was unchanged from the last update. Share price is down by 3.4% to ฿20.10 over the past week.
Price Target Changed • Feb 03Price target lowered to ฿20.73Down from ฿22.39, the current price target is an average from 5 analysts. The new target price is close to the current share price of ฿20.60. As of last close, the stock is down 3.7% over the past year.
Upcoming Dividend • Jan 20Upcoming Dividend of ฿0.30 Per ShareWill be paid on the 9th of February to those who are registered shareholders by the 27th of January. The trailing yield of 7.0% is in the top quartile of Thai dividend payers (6.3%), and it is higher than industry peers (3.4%).
Is New 90 Day High Low • Jan 14New 90-day high: ฿21.10The company is up 44% from its price of ฿14.70 on 16 October 2020. The Thai market is up 25% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿29.75 per share.
Major Estimate Revision • Nov 13Analysts update estimatesThe 2020 consensus revenue estimate was lowered from ฿29.9b to ฿29.1b. Earnings per share (EPS) increased from ฿1.70 to ฿2.22 for the same period. Net income is expected to shrink by 27% next year compared to 7.0% growth forecast for the Basic Materials industry in Thailand . The consensus price target increased from ฿21.39 to ฿22.39. Share price is up 15% to ฿18.70 over the past week.
Price Target Changed • Nov 11Price target raised to ฿21.89Up from ฿20.31, the current price target is an average from 5 analysts. The new target price is 16% above the current share price of ฿18.80. As of last close, the stock is down 11% over the past year.
Reported Earnings • Nov 07Third quarter 2020 earnings released: EPS ฿1.18The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: ฿8.60b (down 9.0% from 3Q 2019). Net income: ฿1.86b (up 162% from 3Q 2019). Profit margin: 22% (up from 7.5% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.
Analyst Estimate Surprise Post Earnings • Nov 07Revenue and earnings miss expectationsRevenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates by 4.1%. Over the next year, revenue is expected to shrink by 2.2% compared to a 4.6% growth forecast for the Basic Materials industry in Thailand.
Is New 90 Day High Low • Oct 15New 90-day low: ฿14.80The company is down 44% from its price of ฿26.50 on 17 July 2020. The Thai market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is down 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿13.13 per share.
Is New 90 Day High Low • Sep 30New 90-day low: ฿15.20The company is down 41% from its price of ฿25.75 on 02 July 2020. The Thai market is down 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is down 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿12.31 per share.