View Future GrowthUnited Paper 過去の業績過去 基準チェック /16United Paperの収益は年間平均-13%の割合で減少していますが、 Packaging業界の収益は年間 増加しています。収益は年間4.3% 4.3%割合で 減少しています。 United Paperの自己資本利益率は11%であり、純利益率は14.6%です。主要情報-13.03%収益成長率-13.02%EPS成長率Packaging 業界の成長0.64%収益成長率-4.35%株主資本利益率11.01%ネット・マージン14.56%前回の決算情報31 Mar 2026最近の業績更新Reported Earnings • May 17First quarter 2026 earnings released: EPS: ฿0.27 (vs ฿0.21 in 1Q 2025)First quarter 2026 results: EPS: ฿0.27 (up from ฿0.21 in 1Q 2025). Revenue: ฿1.05b (up 4.5% from 1Q 2025). Net income: ฿174.5m (up 27% from 1Q 2025). Profit margin: 17% (up from 14% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 11% per year.Reported Earnings • Nov 14Third quarter 2025 earnings released: EPS: ฿0.19 (vs ฿0.17 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.19 (up from ฿0.17 in 3Q 2024). Revenue: ฿892.9m (up 5.6% from 3Q 2024). Net income: ฿123.7m (up 13% from 3Q 2024). Profit margin: 14% (up from 13% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings.Reported Earnings • Aug 14Second quarter 2025 earnings released: EPS: ฿0.21 (vs ฿0.31 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.21 (down from ฿0.31 in 2Q 2024). Revenue: ฿956.5m (down 17% from 2Q 2024). Net income: ฿138.2m (down 31% from 2Q 2024). Profit margin: 14% (down from 17% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings.Reported Earnings • May 15First quarter 2025 earnings released: EPS: ฿0.21 (vs ฿0.28 in 1Q 2024)First quarter 2025 results: EPS: ฿0.21 (down from ฿0.28 in 1Q 2024). Revenue: ฿1.00b (up 2.6% from 1Q 2024). Net income: ฿137.3m (down 23% from 1Q 2024). Profit margin: 14% (down from 18% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings.Reported Earnings • Feb 27Full year 2024 earnings released: EPS: ฿0.95 (vs ฿1.35 in FY 2023)Full year 2024 results: EPS: ฿0.95 (down from ฿1.35 in FY 2023). Revenue: ฿3.93b (down 3.7% from FY 2023). Net income: ฿619.7m (down 29% from FY 2023). Profit margin: 16% (down from 22% in FY 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings.Reported Earnings • Nov 15Third quarter 2024 earnings released: EPS: ฿0.17 (vs ฿0.43 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.17 (down from ฿0.43 in 3Q 2023). Revenue: ฿845.8m (down 12% from 3Q 2023). Net income: ฿109.3m (down 61% from 3Q 2023). Profit margin: 13% (down from 29% in 3Q 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings.すべての更新を表示Recent updatesReported Earnings • May 17First quarter 2026 earnings released: EPS: ฿0.27 (vs ฿0.21 in 1Q 2025)First quarter 2026 results: EPS: ฿0.27 (up from ฿0.21 in 1Q 2025). Revenue: ฿1.05b (up 4.5% from 1Q 2025). Net income: ฿174.5m (up 27% from 1Q 2025). Profit margin: 17% (up from 14% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 11% per year.Declared Dividend • Feb 28Final dividend of ฿0.30 announcedShareholders will receive a dividend of ฿0.30. Ex-date: 10th March 2026 Payment date: 22nd May 2026 Dividend yield will be 7.7%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (73% earnings payout ratio) and cash flows (59% 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. The company's earnings per share (EPS) would need to decline by 18% to shift the payout ratio to a potentially unsustainable range, which is more than the 13% EPS decline seen over the last 5 years.お知らせ • Feb 25United Paper Public Company Limited, Annual General Meeting, Apr 24, 2026United Paper Public Company Limited, Annual General Meeting, Apr 24, 2026, at 10:00 SE Asia Standard Time. Location: rama gardens hotel bangkok, canna room, no.9/9, vibhavadi rangsit road, laksi, bangkok 10210, bangkok ThailandReported Earnings • Nov 14Third quarter 2025 earnings released: EPS: ฿0.19 (vs ฿0.17 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.19 (up from ฿0.17 in 3Q 2024). Revenue: ฿892.9m (up 5.6% from 3Q 2024). Net income: ฿123.7m (up 13% from 3Q 2024). Profit margin: 14% (up from 13% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings.Reported Earnings • Aug 14Second quarter 2025 earnings released: EPS: ฿0.21 (vs ฿0.31 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.21 (down from ฿0.31 in 2Q 2024). Revenue: ฿956.5m (down 17% from 2Q 2024). Net income: ฿138.2m (down 31% from 2Q 2024). Profit margin: 14% (down from 17% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings.Reported Earnings • May 15First quarter 2025 earnings released: EPS: ฿0.21 (vs ฿0.28 in 1Q 2024)First quarter 2025 results: EPS: ฿0.21 (down from ฿0.28 in 1Q 2024). Revenue: ฿1.00b (up 2.6% from 1Q 2024). Net income: ฿137.3m (down 23% from 1Q 2024). Profit margin: 14% (down from 18% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings.Declared Dividend • Feb 28Final dividend reduced to ฿0.30Dividend of ฿0.30 is 38% lower than last year. Ex-date: 11th March 2025 Payment date: 23rd May 2025 Dividend yield will be 8.1%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (82% earnings payout ratio) but not adequately covered by cash flows (99% cash payout ratio). The dividend has increased by an average of 14% 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 decline by 9.0% to shift the payout ratio to a potentially unsustainable range, which is more than the 6.4% EPS decline seen over the last 5 years.お知らせ • Feb 27United Paper Public Company Limited Proposes Cash Dividend Payment for the Operating Period from January 1, 2024, to December 31, 2024, Payable on May 23, 2025United Paper Public Company Limited (UTP) at its AGM to be held on 25 April 2025 proposed a cash dividend payment of THB 0.30 per share for common shareholders. The dividend is derived from the net profit and retained earnings of the non-BOI privileged business for the operating period from January 1, 2024, to December 31, 2024. The record date for the right to receive dividends is set for March 12, 2025, with an ex-dividend date of March 11, 2025. The payment date is scheduled for May 23, 2025. Date of Board resolution is February 26, 2025.Reported Earnings • Feb 27Full year 2024 earnings released: EPS: ฿0.95 (vs ฿1.35 in FY 2023)Full year 2024 results: EPS: ฿0.95 (down from ฿1.35 in FY 2023). Revenue: ฿3.93b (down 3.7% from FY 2023). Net income: ฿619.7m (down 29% from FY 2023). Profit margin: 16% (down from 22% in FY 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings.お知らせ • Feb 26United Paper Public Company Limited, Annual General Meeting, Apr 25, 2025United Paper Public Company Limited, Annual General Meeting, Apr 25, 2025, at 10:00 SE Asia Standard Time. Location: rama gardens hotel bangkok, canna room, no.9/9, vibhavadi rangsit road, laksi, bangkok 10210 ThailandReported Earnings • Nov 15Third quarter 2024 earnings released: EPS: ฿0.17 (vs ฿0.43 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.17 (down from ฿0.43 in 3Q 2023). Revenue: ฿845.8m (down 12% from 3Q 2023). Net income: ฿109.3m (down 61% from 3Q 2023). Profit margin: 13% (down from 29% in 3Q 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings.Declared Dividend • Aug 11First half dividend of ฿0.35 announcedShareholders will receive a dividend of ฿0.35. Ex-date: 22nd August 2024 Payment date: 6th September 2024 Dividend yield will be 7.8%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (64% earnings payout ratio) and cash flows (69% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend.Reported Earnings • Aug 10Second quarter 2024 earnings released: EPS: ฿0.31 (vs ฿0.33 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.31 (down from ฿0.33 in 2Q 2023). Revenue: ฿1.15b (up 13% from 2Q 2023). Net income: ฿198.9m (down 8.0% from 2Q 2023). Profit margin: 17% (down from 21% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings.お知らせ • Aug 10United Paper Public Company Limited Announces Dividend for the Six Months Ended June 30, 2024, Payable on September 06, 2024United Paper Public Company Limited announced dividend of THB 0.35 per share for the six months ended June 30, 2024. Derived from profit under non-BOI privilege (baht per share): THB 0.17, Derived from profit under BOI privilege (baht per share): THB 0.18, Ex-dividend date is August 22, 2024, Record date for the right to receive dividends is August 23, 2024 and payment date is September 06, 2024.お知らせ • Jun 05United Paper Public Company Limited Announces Board ChangesUnited Paper Public Company Limited informed that at The Board of Directors meeting No.03/2024, held on June 4, 2024, these resolution have been passed: Appointment of Mr. Prasong Hanpiyavatanasakul as a Director to replace the resigned Director, Mr.Boonnum Boonnumsup, and as a Director of Executive committee effective from June 4, 2024 onwards. His directorship term would end at the same time as the resigned director he replaced. Appointment of Mr. Pongchai Jarungjitpracharom as a Director, and Director of Executive committee to replace the resigned Director, Dr.Chin Chinsettawong, effective from June 4, 2024 onwards. His directorship term would end at the same time as the resigned director he replaced. After the appointments, the Board of Directors and the Board of Executive Directors will consist of: Board of Directors: Mr. Mongkol Mangkornkanok, Mr. Wachara Chinsettawong, Mr. Surachet Supsakorn, Mr. Kumjorn Chuenchoochit, Dr. Thakol Nunthirapakorn, Mr. Prasong Hanpiyavatanasakul and Mr. Pongchai Jarungjitpracharom. Board of Executive directors: Mr. Mongkol Mangkornkanok, Mr. Wachara Chinsettawong, Mr. Prasong Hanpiyavatanasakul and Mr. Pongchai Jarungjitpracharom.お知らせ • May 29United Paper Public Company Limited Announces Resignation of Directors, with Effect from June 1, 2024United Paper Public Company Limited announced that Dr. Chin Chinsettawong informed his propose to resign from being Director and Executive director of the company due to his health condition which will effect as from June 1, 2024. Mr. Boonnum Boonnumsup informed his propose to resign from being Director of the company due to his health condition which will effect as from June 1, 2024.Reported Earnings • May 16First quarter 2024 earnings released: EPS: ฿0.28 (vs ฿0.32 in 1Q 2023)First quarter 2024 results: EPS: ฿0.28 (down from ฿0.32 in 1Q 2023). Revenue: ฿976.6m (down 15% from 1Q 2023). Net income: ฿179.4m (down 15% from 1Q 2023). Profit margin: 18% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings.Upcoming Dividend • Mar 04Upcoming dividend of ฿0.48 per shareEligible shareholders must have bought the stock before 11 March 2024. Payment date: 24 May 2024. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 6.9%. Within top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (3.0%).お知らせ • Feb 28+ 1 more updateUnited Paper Public Company Limited Proposes Dividend for Fiscal Year 2023, Payable on May 24, 2024United Paper Public Company Limited at the AGM to be held on April 25, 2024, the shareholders agreed to pay the dividend with THB 0.81 per share. Since the interim dividend had been paid at THB 0.33 per share on September 7, 2023, the remaining THB 0.48 per share will be paid from BOI privilege THB 0.30 per share. and Non-BOI THB 0.18 per share on May 24, 2024. However, the final decision to pay the dividend is still under uncertainty as it has to be approved by the shareholders at AGM.Reported Earnings • Feb 28Full year 2023 earnings released: EPS: ฿1.35 (vs ฿1.14 in FY 2022)Full year 2023 results: EPS: ฿1.35 (up from ฿1.14 in FY 2022). Revenue: ฿4.08b (down 18% from FY 2022). Net income: ฿876.3m (up 19% from FY 2022). Profit margin: 22% (up from 15% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 14% per year.New Risk • Dec 21New major risk - Revenue and earnings growthEarnings have declined by 1.7% 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 1.7% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Reported Earnings • Nov 11Third quarter 2023 earnings released: EPS: ฿0.43 (vs ฿0.30 in 3Q 2022)Third quarter 2023 results: EPS: ฿0.43 (up from ฿0.30 in 3Q 2022). Revenue: ฿964.0m (down 14% from 3Q 2022). Net income: ฿279.0m (up 41% from 3Q 2022). Profit margin: 29% (up from 18% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Aug 15Upcoming dividend of ฿0.33 per share at 5.9% yieldEligible shareholders must have bought the stock before 22 August 2023. Payment date: 07 September 2023. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 5.9%. Lower than top quartile of Thai dividend payers (6.4%). Higher than average of industry peers (2.7%).Reported Earnings • Aug 11Second quarter 2023 earnings released: EPS: ฿0.33 (vs ฿0.42 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.33 (down from ฿0.42 in 2Q 2022). Revenue: ฿1.03b (down 24% from 2Q 2022). Net income: ฿216.1m (down 21% from 2Q 2022). Profit margin: 21% (in line with 2Q 2022). Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 8% per year.お知らせ • Jun 17United Paper Public Company Limited Announces Resignation of Montree Mahapruekpong as Director and Executive DirectorUnited Paper Public Company Limited informed that as of July 1, 2023 Mr. Montree Mahapruekpong will resign from being Director and Executive director of the company due to his health condition.Major Estimate Revision • May 16Consensus revenue estimates fall by 13%The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ฿5.34b to ฿4.67b. EPS estimate fell from ฿1.65 to ฿1.37 per share. Net income forecast to grow 21% next year vs 21% growth forecast for Packaging industry in Thailand. Consensus price target down from ฿29.46 to ฿18.50. Share price fell 4.3% to ฿11.20 over the past week.Price Target Changed • May 15Price target decreased by 16% to ฿18.50Down from ฿22.10, the current price target is an average from 2 analysts. New target price is 62% above last closing price of ฿11.40. Stock is down 28% over the past year. The company is forecast to post earnings per share of ฿1.37 for next year compared to ฿1.14 last year.Upcoming Dividend • Mar 02Upcoming dividend of ฿0.27 per share at 4.8% yieldEligible shareholders must have bought the stock before 09 March 2023. Payment date: 26 May 2023. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Thai dividend payers (5.7%). Higher than average of industry peers (2.1%).Reported Earnings • Feb 27Full year 2022 earnings: EPS and revenues miss analyst expectationsFull year 2022 results: EPS: ฿1.14 (down from ฿1.41 in FY 2021). Revenue: ฿4.96b (up 7.9% from FY 2021). Net income: ฿739.0m (down 19% from FY 2021). Profit margin: 15% (down from 20% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 21%. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings.Price Target Changed • Jan 05Price target decreased to ฿18.00Down from ฿22.10, the current price target is an average from 2 analysts. New target price is 10% above last closing price of ฿16.30. Stock is down 7.9% over the past year. The company is forecast to post earnings per share of ฿1.46 for next year compared to ฿1.41 last year.Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Thakol Nunthirapakorn was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.お知らせ • Nov 11Dr. Chin Chinsettawong Intents to Step Down from United Paper Public Company Limited as Chairman and Chairman of the Executive Committee Affectively November 11, 2022United Paper Public Company Limited at the Board of Directors meeting on November 10, 2022, Dr. Chin Chinsettawong informed the Board of Directors about his intention to step down from Chairman and Chairman of the Executive Committee affectively November 11, 2022. After thoroughly consideration, the Board of Directors acknowledged and appointed Mr. Mongkol Mankornkanok to serve as Chairman and Chairman of Executive Committee. Dr. Chin Chinsettawong will continue to work as a director and a member of the Executive Directors.Upcoming Dividend • Aug 19Upcoming dividend of ฿0.43 per shareEligible shareholders must have bought the stock before 26 August 2022. Payment date: 13 September 2022. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Thai dividend payers (5.4%). Higher than average of industry peers (2.0%).Reported Earnings • Aug 17Second quarter 2022 earnings released: EPS: ฿0.42 (vs ฿0.36 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.42 (up from ฿0.36 in 2Q 2021). Revenue: ฿1.36b (up 22% from 2Q 2021). Net income: ฿275.1m (up 17% from 2Q 2021). Profit margin: 20% (in line with 2Q 2021). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • Aug 16United Paper Public Company Limited Announces Interim Dividend for the Six Months Ended June 30, 2022, Payable on September 13, 2022United Paper Public Company Limited announced interim dividend of THB 0.43 per share for the six months ended June 30, 2022. Ex-dividend date is August 26, 2022, Record date for the right to receive dividends is August 29, 2022 and payment date is September 13, 2022.Reported Earnings • May 15First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2022 results: EPS: ฿0.42 (down from ฿0.45 in 1Q 2021). Revenue: ฿1.49b (up 34% from 1Q 2021). Net income: ฿274.8m (down 4.9% from 1Q 2021). Profit margin: 19% (down from 26% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates by 4.3%. Over the next year, revenue is forecast to grow 2.8%, compared to a 9.4% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth.Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Thakol Nunthirapakorn was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Major Estimate Revision • Mar 24Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from ฿4.61b to ฿5.16b. EPS estimate fell from ฿1.59 to ฿1.46. Net income forecast to grow 3.6% next year vs 7.0% growth forecast for Packaging industry in Thailand. Consensus price target broadly unchanged at ฿20.77. Share price fell 3.0% to ฿16.30 over the past week.Upcoming Dividend • Mar 01Upcoming dividend of ฿0.31 per shareEligible shareholders must have bought the stock before 08 March 2022. Payment date: 25 May 2022. Payout ratio is a comfortable 50% but the company is paying out more than the cash it is generating. Trailing yield: 4.3%. Lower than top quartile of Thai dividend payers (5.1%). Higher than average of industry peers (2.2%).お知らせ • Feb 25United Paper Public Company Limited, Annual General Meeting, Apr 26, 2022United Paper Public Company Limited, Annual General Meeting, Apr 26, 2022, at 10:00 SE Asia Standard Time. Agenda: To consider and approve the minute of the meeting of AGM No. 1/2021 which was held on July 20, 2021;To consider Present the company's performances for the year 2021 by the Board of Directors;To consider and approve Annual Financial Reports of the year 2021;: To consider and approve the allocations of profit and dividend payment for the year 2021;: To consider the election of directors to replace those who will retire; To consider directors' remunerations of the year 2022;To consider the appointment of auditors and their remunerations of the year 2022;and discuss other matters.Reported Earnings • Feb 24Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2021 results: EPS: ฿1.41 (down from ฿1.56 in FY 2020). Revenue: ฿4.60b (up 29% from FY 2020). Net income: ฿917.4m (down 9.3% from FY 2020). Profit margin: 20% (down from 28% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 4.3%. Over the next year, revenue is forecast to stay flat compared to a 11% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • Feb 24United Paper Public Company Limited Approves to Propose Dividend, Payable on May 25, 2022United Paper Public Company Limited at its Board of Directors' meeting on February 23, 2022 approved to propose the dividend THB 0.31 per share would be paid on May 25, 2022. However, the final decision to pay the dividend is still under uncertainty as it has to be approved by the shareholders at AGM. Record Date is March 9, 2022.Price Target Changed • Nov 24Price target decreased to ฿22.07Down from ฿24.67, the current price target is an average from 3 analysts. New target price is 35% above last closing price of ฿16.40. Stock is up 21% over the past year. The company is forecast to post earnings per share of ฿1.52 for next year compared to ฿1.56 last year.Upcoming Dividend • Nov 15Upcoming dividend of ฿0.40 per shareEligible shareholders must have bought the stock before 22 November 2021. Payment date: 08 December 2021. Trailing yield: 4.7%. Lower than top quartile of Thai dividend payers (4.8%). Higher than average of industry peers (1.7%).Reported Earnings • Nov 11Third quarter 2021 earnings released: EPS ฿0.33 (vs ฿0.37 in 3Q 2020)The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: ฿1.18b (up 25% from 3Q 2020). Net income: ฿216.6m (down 9.8% from 3Q 2020). Profit margin: 18% (down from 26% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 14% per year.Reported Earnings • Aug 18Second quarter 2021 earnings released: EPS ฿0.36 (vs ฿0.35 in 2Q 2020)The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: ฿1.11b (up 52% from 2Q 2020). Net income: ฿234.3m (up 2.6% from 2Q 2020). Profit margin: 21% (down from 31% 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 15% per year whereas the company’s share price has increased by 16% per year.Director Overboarding • Aug 13Director Mongkol Mungkornkanok has joined 3rd company boardPresident & Director Mongkol Mungkornkanok has been appointed to the board of United Paper Public Company Limited (SET:UTP). Mungkornkanok now sits on a total of 3 company boards. With 3 board positions including the role of CEO at United Paper Public Company Limited (SET:UTP), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model.Reported Earnings • May 13First quarter 2021 earnings released: EPS ฿0.44 (vs ฿0.47 in 1Q 2020)The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: ฿1.11b (up 18% from 1Q 2020). Net income: ฿289.0m (down 5.4% from 1Q 2020). Profit margin: 26% (down from 33% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 22% per year.お知らせ • Apr 29+ 1 more updateUnited Paper Public Company Limited Announces Approval of Interim Dividend Payment from the Company's Profit as of December 31, 2020, Payable on 25 May 2021United Paper Public Company Limited announced At the 2/2021 Board of Directors' meeting on April 27, 2021, the Board of Directors approved to pay the interim dividend from the company's profit as of December 31, 2020 and retain earning at the rate of THB 0.39 per share, totaling THB 253.50 million from only its BOI promoted business. The dividend payment will be paid on 25 May 2021 the shareholders list on March 9, 2021.Upcoming Dividend • Mar 01Upcoming Dividend of ฿0.39 Per ShareWill be paid on the 27th of May to those who are registered shareholders by the 8th of March. The trailing yield of 4.6% is below the top quartile of Thai dividend payers (5.9%), but it is higher than industry peers (1.9%).お知らせ • Feb 24United Paper Public Company Limited, Annual General Meeting, Apr 27, 2021United Paper Public Company Limited, Annual General Meeting, Apr 27, 2021, at 03:00 Coordinated Universal Time. Location: Rama Gardens Hotel Bangkok, Canna1 room, No.9/9 Vibhavadi Rangsit Road, Laksi Bangkok Thailand Agenda: To consider and approve the minute of the meeting of AGM No. 1/2020 which was held on July 14, 2019; to present the company's performances for the year 2020 by the board of directors; to consider and approve annual financial reports of the year 2020; to consider and approve the allocations of profit and dividend payment for the year 2020; to consider the election of directors to replace those who will retire; to consider directors' remunerations of the year 2021; to consider the appointment of auditors and their remunerations of the year 2021; and to consider other matter.Reported Earnings • Feb 24Full year 2020 earnings released: EPS ฿1.56 (vs ฿1.33 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿3.57b (up 4.9% from FY 2019). Net income: ฿1.01b (up 17% from FY 2019). Profit margin: 28% (up from 25% in FY 2019). Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 22% per year.Analyst Estimate Surprise Post Earnings • Feb 24Revenue and earnings beat expectationsRevenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 3.4%. Over the next year, revenue is forecast to grow 2.1%, compared to a 21% growth forecast for the Packaging industry in Thailand.Valuation Update With 7 Day Price Move • Jan 28Investor sentiment improved over the past weekAfter last week's 23% share price gain to ฿19.40, the stock is trading at a trailing P/E ratio of 12.8x, up from the previous P/E ratio of 10.4x. This compares to an average P/E of 12x in the Packaging industry in Thailand. Total returns to shareholders over the past three years are 131%.Is New 90 Day High Low • Jan 27New 90-day high: ฿17.80The company is up 31% from its price of ฿13.60 on 29 October 2020. The Thai market is up 25% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Packaging industry, which is up 27% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿27.89 per share.Price Target Changed • Jan 27Price target raised to ฿18.03Up from ฿16.40, the current price target is an average from 3 analysts. The new target price is close to the current share price of ฿17.80. As of last close, the stock is up 85% over the past year.Is New 90 Day High Low • Jan 11New 90-day high: ฿14.60The company is up 2.0% from its price of ฿14.30 on 12 October 2020. The Thai market is up 21% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Packaging industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿27.89 per share.Is New 90 Day High Low • Dec 09New 90-day low: ฿13.10The company is down 10.0% from its price of ฿14.60 on 10 September 2020. The Thai market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Packaging industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿23.56 per share.Upcoming Dividend • Nov 18Upcoming Dividend of ฿0.41 Per ShareWill be paid on the 11th of December to those who are registered shareholders by the 25th of November. The trailing yield of 5.9% is below the top quartile of Thai dividend payers (6.7%), but it is higher than industry peers (4.2%).Analyst Estimate Surprise Post Earnings • Nov 13Revenue and earnings beat expectationsRevenue exceeded analyst estimates by 0.1%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Over the next year, revenue is forecast to stay flat compared to a 9.6% growth forecast for the Packaging industry in Thailand.Reported Earnings • Nov 13Third quarter 2020 earnings released: EPS ฿0.37The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: ฿940.3m (up 13% from 3Q 2019). Net income: ฿240.1m (up 11% from 3Q 2019). Profit margin: 26% (in line with 3Q 2019). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.収支内訳United Paper 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:UTP 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 263,77054977031 Dec 253,72451275030 Sep 253,80753172030 Jun 253,76051770031 Mar 253,95857871031 Dec 243,93262072030 Sep 243,92565976030 Jun 244,04382875031 Mar 243,91384676031 Dec 234,08387672030 Sep 234,14669666030 Jun 234,29861566031 Mar 234,62967464031 Dec 224,96973967030 Sep 225,16492569030 Jun 225,22694470031 Mar 224,97990365031 Dec 214,60191764030 Sep 214,35797766030 Jun 214,1181,00165031 Mar 213,74099565031 Dec 203,5691,01163030 Sep 203,38898724030 Jun 203,27996436031 Mar 203,41897153031 Dec 193,40386368030 Sep 193,534848125030 Jun 193,654854124031 Mar 193,723807122031 Dec 183,719777116030 Sep 183,599693108030 Jun 183,326568103031 Mar 182,92745697031 Dec 172,55236894030 Sep 172,17929489030 Jun 171,96223382031 Mar 171,89120578031 Dec 161,85319174030 Sep 161,87919370030 Jun 161,87219572031 Mar 161,83518671031 Dec 151,83516473030 Sep 151,85916275030 Jun 151,919173740質の高い収益: UTPは 高品質の収益 を持っています。利益率の向上: UTPの現在の純利益率 (14.6%)は、昨年(14.6%)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: UTPの収益は過去 5 年間で年間13%減少しました。成長の加速: UTP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: UTPは過去 1 年間で収益成長率がマイナス ( -5% ) となったため、 Packaging業界平均 ( 4.2% ) と比較することが困難です。株主資本利益率高いROE: UTPの 自己資本利益率 ( 11% ) 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2026/05/22 16:18終値2026/05/22 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United Paper 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。3 アナリスト機関Wikij TirawannaratBualuang Securities PCLnull nullDBS Bank LtdChak ReungsinpinyaTTB Wealth Securities Public Company Limited
Reported Earnings • May 17First quarter 2026 earnings released: EPS: ฿0.27 (vs ฿0.21 in 1Q 2025)First quarter 2026 results: EPS: ฿0.27 (up from ฿0.21 in 1Q 2025). Revenue: ฿1.05b (up 4.5% from 1Q 2025). Net income: ฿174.5m (up 27% from 1Q 2025). Profit margin: 17% (up from 14% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 11% per year.
Reported Earnings • Nov 14Third quarter 2025 earnings released: EPS: ฿0.19 (vs ฿0.17 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.19 (up from ฿0.17 in 3Q 2024). Revenue: ฿892.9m (up 5.6% from 3Q 2024). Net income: ฿123.7m (up 13% from 3Q 2024). Profit margin: 14% (up from 13% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings.
Reported Earnings • Aug 14Second quarter 2025 earnings released: EPS: ฿0.21 (vs ฿0.31 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.21 (down from ฿0.31 in 2Q 2024). Revenue: ฿956.5m (down 17% from 2Q 2024). Net income: ฿138.2m (down 31% from 2Q 2024). Profit margin: 14% (down from 17% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings.
Reported Earnings • May 15First quarter 2025 earnings released: EPS: ฿0.21 (vs ฿0.28 in 1Q 2024)First quarter 2025 results: EPS: ฿0.21 (down from ฿0.28 in 1Q 2024). Revenue: ฿1.00b (up 2.6% from 1Q 2024). Net income: ฿137.3m (down 23% from 1Q 2024). Profit margin: 14% (down from 18% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings.
Reported Earnings • Feb 27Full year 2024 earnings released: EPS: ฿0.95 (vs ฿1.35 in FY 2023)Full year 2024 results: EPS: ฿0.95 (down from ฿1.35 in FY 2023). Revenue: ฿3.93b (down 3.7% from FY 2023). Net income: ฿619.7m (down 29% from FY 2023). Profit margin: 16% (down from 22% in FY 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings.
Reported Earnings • Nov 15Third quarter 2024 earnings released: EPS: ฿0.17 (vs ฿0.43 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.17 (down from ฿0.43 in 3Q 2023). Revenue: ฿845.8m (down 12% from 3Q 2023). Net income: ฿109.3m (down 61% from 3Q 2023). Profit margin: 13% (down from 29% in 3Q 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings.
Reported Earnings • May 17First quarter 2026 earnings released: EPS: ฿0.27 (vs ฿0.21 in 1Q 2025)First quarter 2026 results: EPS: ฿0.27 (up from ฿0.21 in 1Q 2025). Revenue: ฿1.05b (up 4.5% from 1Q 2025). Net income: ฿174.5m (up 27% from 1Q 2025). Profit margin: 17% (up from 14% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 11% per year.
Declared Dividend • Feb 28Final dividend of ฿0.30 announcedShareholders will receive a dividend of ฿0.30. Ex-date: 10th March 2026 Payment date: 22nd May 2026 Dividend yield will be 7.7%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (73% earnings payout ratio) and cash flows (59% 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. The company's earnings per share (EPS) would need to decline by 18% to shift the payout ratio to a potentially unsustainable range, which is more than the 13% EPS decline seen over the last 5 years.
お知らせ • Feb 25United Paper Public Company Limited, Annual General Meeting, Apr 24, 2026United Paper Public Company Limited, Annual General Meeting, Apr 24, 2026, at 10:00 SE Asia Standard Time. Location: rama gardens hotel bangkok, canna room, no.9/9, vibhavadi rangsit road, laksi, bangkok 10210, bangkok Thailand
Reported Earnings • Nov 14Third quarter 2025 earnings released: EPS: ฿0.19 (vs ฿0.17 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.19 (up from ฿0.17 in 3Q 2024). Revenue: ฿892.9m (up 5.6% from 3Q 2024). Net income: ฿123.7m (up 13% from 3Q 2024). Profit margin: 14% (up from 13% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings.
Reported Earnings • Aug 14Second quarter 2025 earnings released: EPS: ฿0.21 (vs ฿0.31 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.21 (down from ฿0.31 in 2Q 2024). Revenue: ฿956.5m (down 17% from 2Q 2024). Net income: ฿138.2m (down 31% from 2Q 2024). Profit margin: 14% (down from 17% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings.
Reported Earnings • May 15First quarter 2025 earnings released: EPS: ฿0.21 (vs ฿0.28 in 1Q 2024)First quarter 2025 results: EPS: ฿0.21 (down from ฿0.28 in 1Q 2024). Revenue: ฿1.00b (up 2.6% from 1Q 2024). Net income: ฿137.3m (down 23% from 1Q 2024). Profit margin: 14% (down from 18% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings.
Declared Dividend • Feb 28Final dividend reduced to ฿0.30Dividend of ฿0.30 is 38% lower than last year. Ex-date: 11th March 2025 Payment date: 23rd May 2025 Dividend yield will be 8.1%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (82% earnings payout ratio) but not adequately covered by cash flows (99% cash payout ratio). The dividend has increased by an average of 14% 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 decline by 9.0% to shift the payout ratio to a potentially unsustainable range, which is more than the 6.4% EPS decline seen over the last 5 years.
お知らせ • Feb 27United Paper Public Company Limited Proposes Cash Dividend Payment for the Operating Period from January 1, 2024, to December 31, 2024, Payable on May 23, 2025United Paper Public Company Limited (UTP) at its AGM to be held on 25 April 2025 proposed a cash dividend payment of THB 0.30 per share for common shareholders. The dividend is derived from the net profit and retained earnings of the non-BOI privileged business for the operating period from January 1, 2024, to December 31, 2024. The record date for the right to receive dividends is set for March 12, 2025, with an ex-dividend date of March 11, 2025. The payment date is scheduled for May 23, 2025. Date of Board resolution is February 26, 2025.
Reported Earnings • Feb 27Full year 2024 earnings released: EPS: ฿0.95 (vs ฿1.35 in FY 2023)Full year 2024 results: EPS: ฿0.95 (down from ฿1.35 in FY 2023). Revenue: ฿3.93b (down 3.7% from FY 2023). Net income: ฿619.7m (down 29% from FY 2023). Profit margin: 16% (down from 22% in FY 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings.
お知らせ • Feb 26United Paper Public Company Limited, Annual General Meeting, Apr 25, 2025United Paper Public Company Limited, Annual General Meeting, Apr 25, 2025, at 10:00 SE Asia Standard Time. Location: rama gardens hotel bangkok, canna room, no.9/9, vibhavadi rangsit road, laksi, bangkok 10210 Thailand
Reported Earnings • Nov 15Third quarter 2024 earnings released: EPS: ฿0.17 (vs ฿0.43 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.17 (down from ฿0.43 in 3Q 2023). Revenue: ฿845.8m (down 12% from 3Q 2023). Net income: ฿109.3m (down 61% from 3Q 2023). Profit margin: 13% (down from 29% in 3Q 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings.
Declared Dividend • Aug 11First half dividend of ฿0.35 announcedShareholders will receive a dividend of ฿0.35. Ex-date: 22nd August 2024 Payment date: 6th September 2024 Dividend yield will be 7.8%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (64% earnings payout ratio) and cash flows (69% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend.
Reported Earnings • Aug 10Second quarter 2024 earnings released: EPS: ฿0.31 (vs ฿0.33 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.31 (down from ฿0.33 in 2Q 2023). Revenue: ฿1.15b (up 13% from 2Q 2023). Net income: ฿198.9m (down 8.0% from 2Q 2023). Profit margin: 17% (down from 21% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings.
お知らせ • Aug 10United Paper Public Company Limited Announces Dividend for the Six Months Ended June 30, 2024, Payable on September 06, 2024United Paper Public Company Limited announced dividend of THB 0.35 per share for the six months ended June 30, 2024. Derived from profit under non-BOI privilege (baht per share): THB 0.17, Derived from profit under BOI privilege (baht per share): THB 0.18, Ex-dividend date is August 22, 2024, Record date for the right to receive dividends is August 23, 2024 and payment date is September 06, 2024.
お知らせ • Jun 05United Paper Public Company Limited Announces Board ChangesUnited Paper Public Company Limited informed that at The Board of Directors meeting No.03/2024, held on June 4, 2024, these resolution have been passed: Appointment of Mr. Prasong Hanpiyavatanasakul as a Director to replace the resigned Director, Mr.Boonnum Boonnumsup, and as a Director of Executive committee effective from June 4, 2024 onwards. His directorship term would end at the same time as the resigned director he replaced. Appointment of Mr. Pongchai Jarungjitpracharom as a Director, and Director of Executive committee to replace the resigned Director, Dr.Chin Chinsettawong, effective from June 4, 2024 onwards. His directorship term would end at the same time as the resigned director he replaced. After the appointments, the Board of Directors and the Board of Executive Directors will consist of: Board of Directors: Mr. Mongkol Mangkornkanok, Mr. Wachara Chinsettawong, Mr. Surachet Supsakorn, Mr. Kumjorn Chuenchoochit, Dr. Thakol Nunthirapakorn, Mr. Prasong Hanpiyavatanasakul and Mr. Pongchai Jarungjitpracharom. Board of Executive directors: Mr. Mongkol Mangkornkanok, Mr. Wachara Chinsettawong, Mr. Prasong Hanpiyavatanasakul and Mr. Pongchai Jarungjitpracharom.
お知らせ • May 29United Paper Public Company Limited Announces Resignation of Directors, with Effect from June 1, 2024United Paper Public Company Limited announced that Dr. Chin Chinsettawong informed his propose to resign from being Director and Executive director of the company due to his health condition which will effect as from June 1, 2024. Mr. Boonnum Boonnumsup informed his propose to resign from being Director of the company due to his health condition which will effect as from June 1, 2024.
Reported Earnings • May 16First quarter 2024 earnings released: EPS: ฿0.28 (vs ฿0.32 in 1Q 2023)First quarter 2024 results: EPS: ฿0.28 (down from ฿0.32 in 1Q 2023). Revenue: ฿976.6m (down 15% from 1Q 2023). Net income: ฿179.4m (down 15% from 1Q 2023). Profit margin: 18% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings.
Upcoming Dividend • Mar 04Upcoming dividend of ฿0.48 per shareEligible shareholders must have bought the stock before 11 March 2024. Payment date: 24 May 2024. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 6.9%. Within top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (3.0%).
お知らせ • Feb 28+ 1 more updateUnited Paper Public Company Limited Proposes Dividend for Fiscal Year 2023, Payable on May 24, 2024United Paper Public Company Limited at the AGM to be held on April 25, 2024, the shareholders agreed to pay the dividend with THB 0.81 per share. Since the interim dividend had been paid at THB 0.33 per share on September 7, 2023, the remaining THB 0.48 per share will be paid from BOI privilege THB 0.30 per share. and Non-BOI THB 0.18 per share on May 24, 2024. However, the final decision to pay the dividend is still under uncertainty as it has to be approved by the shareholders at AGM.
Reported Earnings • Feb 28Full year 2023 earnings released: EPS: ฿1.35 (vs ฿1.14 in FY 2022)Full year 2023 results: EPS: ฿1.35 (up from ฿1.14 in FY 2022). Revenue: ฿4.08b (down 18% from FY 2022). Net income: ฿876.3m (up 19% from FY 2022). Profit margin: 22% (up from 15% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 14% per year.
New Risk • Dec 21New major risk - Revenue and earnings growthEarnings have declined by 1.7% 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 1.7% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Reported Earnings • Nov 11Third quarter 2023 earnings released: EPS: ฿0.43 (vs ฿0.30 in 3Q 2022)Third quarter 2023 results: EPS: ฿0.43 (up from ฿0.30 in 3Q 2022). Revenue: ฿964.0m (down 14% from 3Q 2022). Net income: ฿279.0m (up 41% from 3Q 2022). Profit margin: 29% (up from 18% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Aug 15Upcoming dividend of ฿0.33 per share at 5.9% yieldEligible shareholders must have bought the stock before 22 August 2023. Payment date: 07 September 2023. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 5.9%. Lower than top quartile of Thai dividend payers (6.4%). Higher than average of industry peers (2.7%).
Reported Earnings • Aug 11Second quarter 2023 earnings released: EPS: ฿0.33 (vs ฿0.42 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.33 (down from ฿0.42 in 2Q 2022). Revenue: ฿1.03b (down 24% from 2Q 2022). Net income: ฿216.1m (down 21% from 2Q 2022). Profit margin: 21% (in line with 2Q 2022). Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 8% per year.
お知らせ • Jun 17United Paper Public Company Limited Announces Resignation of Montree Mahapruekpong as Director and Executive DirectorUnited Paper Public Company Limited informed that as of July 1, 2023 Mr. Montree Mahapruekpong will resign from being Director and Executive director of the company due to his health condition.
Major Estimate Revision • May 16Consensus revenue estimates fall by 13%The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ฿5.34b to ฿4.67b. EPS estimate fell from ฿1.65 to ฿1.37 per share. Net income forecast to grow 21% next year vs 21% growth forecast for Packaging industry in Thailand. Consensus price target down from ฿29.46 to ฿18.50. Share price fell 4.3% to ฿11.20 over the past week.
Price Target Changed • May 15Price target decreased by 16% to ฿18.50Down from ฿22.10, the current price target is an average from 2 analysts. New target price is 62% above last closing price of ฿11.40. Stock is down 28% over the past year. The company is forecast to post earnings per share of ฿1.37 for next year compared to ฿1.14 last year.
Upcoming Dividend • Mar 02Upcoming dividend of ฿0.27 per share at 4.8% yieldEligible shareholders must have bought the stock before 09 March 2023. Payment date: 26 May 2023. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Thai dividend payers (5.7%). Higher than average of industry peers (2.1%).
Reported Earnings • Feb 27Full year 2022 earnings: EPS and revenues miss analyst expectationsFull year 2022 results: EPS: ฿1.14 (down from ฿1.41 in FY 2021). Revenue: ฿4.96b (up 7.9% from FY 2021). Net income: ฿739.0m (down 19% from FY 2021). Profit margin: 15% (down from 20% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 21%. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings.
Price Target Changed • Jan 05Price target decreased to ฿18.00Down from ฿22.10, the current price target is an average from 2 analysts. New target price is 10% above last closing price of ฿16.30. Stock is down 7.9% over the past year. The company is forecast to post earnings per share of ฿1.46 for next year compared to ฿1.41 last year.
Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Thakol Nunthirapakorn was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
お知らせ • Nov 11Dr. Chin Chinsettawong Intents to Step Down from United Paper Public Company Limited as Chairman and Chairman of the Executive Committee Affectively November 11, 2022United Paper Public Company Limited at the Board of Directors meeting on November 10, 2022, Dr. Chin Chinsettawong informed the Board of Directors about his intention to step down from Chairman and Chairman of the Executive Committee affectively November 11, 2022. After thoroughly consideration, the Board of Directors acknowledged and appointed Mr. Mongkol Mankornkanok to serve as Chairman and Chairman of Executive Committee. Dr. Chin Chinsettawong will continue to work as a director and a member of the Executive Directors.
Upcoming Dividend • Aug 19Upcoming dividend of ฿0.43 per shareEligible shareholders must have bought the stock before 26 August 2022. Payment date: 13 September 2022. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Thai dividend payers (5.4%). Higher than average of industry peers (2.0%).
Reported Earnings • Aug 17Second quarter 2022 earnings released: EPS: ฿0.42 (vs ฿0.36 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.42 (up from ฿0.36 in 2Q 2021). Revenue: ฿1.36b (up 22% from 2Q 2021). Net income: ฿275.1m (up 17% from 2Q 2021). Profit margin: 20% (in line with 2Q 2021). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • Aug 16United Paper Public Company Limited Announces Interim Dividend for the Six Months Ended June 30, 2022, Payable on September 13, 2022United Paper Public Company Limited announced interim dividend of THB 0.43 per share for the six months ended June 30, 2022. Ex-dividend date is August 26, 2022, Record date for the right to receive dividends is August 29, 2022 and payment date is September 13, 2022.
Reported Earnings • May 15First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2022 results: EPS: ฿0.42 (down from ฿0.45 in 1Q 2021). Revenue: ฿1.49b (up 34% from 1Q 2021). Net income: ฿274.8m (down 4.9% from 1Q 2021). Profit margin: 19% (down from 26% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates by 4.3%. Over the next year, revenue is forecast to grow 2.8%, compared to a 9.4% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth.
Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Thakol Nunthirapakorn was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Major Estimate Revision • Mar 24Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from ฿4.61b to ฿5.16b. EPS estimate fell from ฿1.59 to ฿1.46. Net income forecast to grow 3.6% next year vs 7.0% growth forecast for Packaging industry in Thailand. Consensus price target broadly unchanged at ฿20.77. Share price fell 3.0% to ฿16.30 over the past week.
Upcoming Dividend • Mar 01Upcoming dividend of ฿0.31 per shareEligible shareholders must have bought the stock before 08 March 2022. Payment date: 25 May 2022. Payout ratio is a comfortable 50% but the company is paying out more than the cash it is generating. Trailing yield: 4.3%. Lower than top quartile of Thai dividend payers (5.1%). Higher than average of industry peers (2.2%).
お知らせ • Feb 25United Paper Public Company Limited, Annual General Meeting, Apr 26, 2022United Paper Public Company Limited, Annual General Meeting, Apr 26, 2022, at 10:00 SE Asia Standard Time. Agenda: To consider and approve the minute of the meeting of AGM No. 1/2021 which was held on July 20, 2021;To consider Present the company's performances for the year 2021 by the Board of Directors;To consider and approve Annual Financial Reports of the year 2021;: To consider and approve the allocations of profit and dividend payment for the year 2021;: To consider the election of directors to replace those who will retire; To consider directors' remunerations of the year 2022;To consider the appointment of auditors and their remunerations of the year 2022;and discuss other matters.
Reported Earnings • Feb 24Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2021 results: EPS: ฿1.41 (down from ฿1.56 in FY 2020). Revenue: ฿4.60b (up 29% from FY 2020). Net income: ฿917.4m (down 9.3% from FY 2020). Profit margin: 20% (down from 28% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 4.3%. Over the next year, revenue is forecast to stay flat compared to a 11% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • Feb 24United Paper Public Company Limited Approves to Propose Dividend, Payable on May 25, 2022United Paper Public Company Limited at its Board of Directors' meeting on February 23, 2022 approved to propose the dividend THB 0.31 per share would be paid on May 25, 2022. However, the final decision to pay the dividend is still under uncertainty as it has to be approved by the shareholders at AGM. Record Date is March 9, 2022.
Price Target Changed • Nov 24Price target decreased to ฿22.07Down from ฿24.67, the current price target is an average from 3 analysts. New target price is 35% above last closing price of ฿16.40. Stock is up 21% over the past year. The company is forecast to post earnings per share of ฿1.52 for next year compared to ฿1.56 last year.
Upcoming Dividend • Nov 15Upcoming dividend of ฿0.40 per shareEligible shareholders must have bought the stock before 22 November 2021. Payment date: 08 December 2021. Trailing yield: 4.7%. Lower than top quartile of Thai dividend payers (4.8%). Higher than average of industry peers (1.7%).
Reported Earnings • Nov 11Third quarter 2021 earnings released: EPS ฿0.33 (vs ฿0.37 in 3Q 2020)The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: ฿1.18b (up 25% from 3Q 2020). Net income: ฿216.6m (down 9.8% from 3Q 2020). Profit margin: 18% (down from 26% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 14% per year.
Reported Earnings • Aug 18Second quarter 2021 earnings released: EPS ฿0.36 (vs ฿0.35 in 2Q 2020)The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: ฿1.11b (up 52% from 2Q 2020). Net income: ฿234.3m (up 2.6% from 2Q 2020). Profit margin: 21% (down from 31% 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 15% per year whereas the company’s share price has increased by 16% per year.
Director Overboarding • Aug 13Director Mongkol Mungkornkanok has joined 3rd company boardPresident & Director Mongkol Mungkornkanok has been appointed to the board of United Paper Public Company Limited (SET:UTP). Mungkornkanok now sits on a total of 3 company boards. With 3 board positions including the role of CEO at United Paper Public Company Limited (SET:UTP), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model.
Reported Earnings • May 13First quarter 2021 earnings released: EPS ฿0.44 (vs ฿0.47 in 1Q 2020)The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: ฿1.11b (up 18% from 1Q 2020). Net income: ฿289.0m (down 5.4% from 1Q 2020). Profit margin: 26% (down from 33% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 22% per year.
お知らせ • Apr 29+ 1 more updateUnited Paper Public Company Limited Announces Approval of Interim Dividend Payment from the Company's Profit as of December 31, 2020, Payable on 25 May 2021United Paper Public Company Limited announced At the 2/2021 Board of Directors' meeting on April 27, 2021, the Board of Directors approved to pay the interim dividend from the company's profit as of December 31, 2020 and retain earning at the rate of THB 0.39 per share, totaling THB 253.50 million from only its BOI promoted business. The dividend payment will be paid on 25 May 2021 the shareholders list on March 9, 2021.
Upcoming Dividend • Mar 01Upcoming Dividend of ฿0.39 Per ShareWill be paid on the 27th of May to those who are registered shareholders by the 8th of March. The trailing yield of 4.6% is below the top quartile of Thai dividend payers (5.9%), but it is higher than industry peers (1.9%).
お知らせ • Feb 24United Paper Public Company Limited, Annual General Meeting, Apr 27, 2021United Paper Public Company Limited, Annual General Meeting, Apr 27, 2021, at 03:00 Coordinated Universal Time. Location: Rama Gardens Hotel Bangkok, Canna1 room, No.9/9 Vibhavadi Rangsit Road, Laksi Bangkok Thailand Agenda: To consider and approve the minute of the meeting of AGM No. 1/2020 which was held on July 14, 2019; to present the company's performances for the year 2020 by the board of directors; to consider and approve annual financial reports of the year 2020; to consider and approve the allocations of profit and dividend payment for the year 2020; to consider the election of directors to replace those who will retire; to consider directors' remunerations of the year 2021; to consider the appointment of auditors and their remunerations of the year 2021; and to consider other matter.
Reported Earnings • Feb 24Full year 2020 earnings released: EPS ฿1.56 (vs ฿1.33 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿3.57b (up 4.9% from FY 2019). Net income: ฿1.01b (up 17% from FY 2019). Profit margin: 28% (up from 25% in FY 2019). Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 22% per year.
Analyst Estimate Surprise Post Earnings • Feb 24Revenue and earnings beat expectationsRevenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 3.4%. Over the next year, revenue is forecast to grow 2.1%, compared to a 21% growth forecast for the Packaging industry in Thailand.
Valuation Update With 7 Day Price Move • Jan 28Investor sentiment improved over the past weekAfter last week's 23% share price gain to ฿19.40, the stock is trading at a trailing P/E ratio of 12.8x, up from the previous P/E ratio of 10.4x. This compares to an average P/E of 12x in the Packaging industry in Thailand. Total returns to shareholders over the past three years are 131%.
Is New 90 Day High Low • Jan 27New 90-day high: ฿17.80The company is up 31% from its price of ฿13.60 on 29 October 2020. The Thai market is up 25% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Packaging industry, which is up 27% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿27.89 per share.
Price Target Changed • Jan 27Price target raised to ฿18.03Up from ฿16.40, the current price target is an average from 3 analysts. The new target price is close to the current share price of ฿17.80. As of last close, the stock is up 85% over the past year.
Is New 90 Day High Low • Jan 11New 90-day high: ฿14.60The company is up 2.0% from its price of ฿14.30 on 12 October 2020. The Thai market is up 21% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Packaging industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿27.89 per share.
Is New 90 Day High Low • Dec 09New 90-day low: ฿13.10The company is down 10.0% from its price of ฿14.60 on 10 September 2020. The Thai market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Packaging industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿23.56 per share.
Upcoming Dividend • Nov 18Upcoming Dividend of ฿0.41 Per ShareWill be paid on the 11th of December to those who are registered shareholders by the 25th of November. The trailing yield of 5.9% is below the top quartile of Thai dividend payers (6.7%), but it is higher than industry peers (4.2%).
Analyst Estimate Surprise Post Earnings • Nov 13Revenue and earnings beat expectationsRevenue exceeded analyst estimates by 0.1%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Over the next year, revenue is forecast to stay flat compared to a 9.6% growth forecast for the Packaging industry in Thailand.
Reported Earnings • Nov 13Third quarter 2020 earnings released: EPS ฿0.37The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: ฿940.3m (up 13% from 3Q 2019). Net income: ฿240.1m (up 11% from 3Q 2019). Profit margin: 26% (in line with 3Q 2019). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.