View Future GrowthMFEC 過去の業績過去 基準チェック /16MFECの収益は年間平均-12.6%の割合で減少していますが、 IT業界の収益は年間 減少しています。収益は年間0.3% 7.7%割合で 増加しています。 MFECの自己資本利益率は9.5%であり、純利益率は3.6%です。主要情報-12.57%収益成長率-12.55%EPS成長率IT 業界の成長12.71%収益成長率7.73%株主資本利益率9.50%ネット・マージン3.55%前回の決算情報31 Mar 2026最近の業績更新Reported Earnings • May 14First quarter 2026 earnings released: EPS: ฿0.17 (vs ฿0.14 in 1Q 2025)First quarter 2026 results: EPS: ฿0.17 (up from ฿0.14 in 1Q 2025). Revenue: ฿1.66b (up 4.5% from 1Q 2025). Net income: ฿73.4m (up 22% from 1Q 2025). Profit margin: 4.4% (up from 3.8% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings.Reported Earnings • Nov 13Third quarter 2025 earnings released: EPS: ฿0.17 (vs ฿0.20 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.17 (down from ฿0.20 in 3Q 2024). Revenue: ฿1.77b (up 9.2% from 3Q 2024). Net income: ฿75.6m (down 17% from 3Q 2024). Profit margin: 4.3% (down from 5.6% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.Reported Earnings • Aug 10Second quarter 2025 earnings released: EPS: ฿0.08 (vs ฿0.20 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.08 (down from ฿0.20 in 2Q 2024). Revenue: ฿1.70b (up 2.2% from 2Q 2024). Net income: ฿35.6m (down 59% from 2Q 2024). Profit margin: 2.1% (down from 5.3% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings.Reported Earnings • May 15First quarter 2025 earnings released: EPS: ฿0.14 (vs ฿0.11 in 1Q 2024)First quarter 2025 results: EPS: ฿0.14 (up from ฿0.11 in 1Q 2024). Revenue: ฿1.59b (down 11% from 1Q 2024). Net income: ฿60.3m (up 27% from 1Q 2024). Profit margin: 3.8% (up from 2.7% in 1Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year and the company’s share price has also fallen by 15% per year.Reported Earnings • Feb 26Full year 2024 earnings released: EPS: ฿0.62 (vs ฿1.56 in FY 2023)Full year 2024 results: EPS: ฿0.62 (down from ฿1.56 in FY 2023). Revenue: ฿6.86b (up 1.2% from FY 2023). Net income: ฿272.3m (down 61% from FY 2023). Profit margin: 4.0% (down from 10% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings.Reported Earnings • Nov 17Third quarter 2024 earnings released: EPS: ฿0.21 (vs ฿0.10 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.21 (up from ฿0.10 in 3Q 2023). Revenue: ฿1.66b (down 8.0% from 3Q 2023). Net income: ฿90.5m (up 95% from 3Q 2023). Profit margin: 5.5% (up from 2.6% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings.すべての更新を表示Recent updatesReported Earnings • May 14First quarter 2026 earnings released: EPS: ฿0.17 (vs ฿0.14 in 1Q 2025)First quarter 2026 results: EPS: ฿0.17 (up from ฿0.14 in 1Q 2025). Revenue: ฿1.66b (up 4.5% from 1Q 2025). Net income: ฿73.4m (up 22% from 1Q 2025). Profit margin: 4.4% (up from 3.8% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Apr 29Upcoming dividend of ฿0.50 per shareEligible shareholders must have bought the stock before 06 May 2026. Payment date: 15 May 2026. Payout ratio is on the higher end at 94%, however this is supported by cash flows. Trailing yield: 8.3%. Within top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (5.5%).Declared Dividend • Feb 25Dividend of ฿0.50 announcedDividend of ฿0.50 is the same as last year. Ex-date: 6th May 2026 Payment date: 15th May 2026 Dividend yield will be 8.6%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is not covered by earnings (101% earnings payout ratio). However, it is well covered by cash flows (25% cash payout ratio). The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 13% to bring the payout ratio under control. However, EPS has remained steady over the last 5 years so the company would need to improve on their historical growth rates.お知らせ • Feb 24MFEC Public Company Limited announces Annual dividend, payable on May 15, 2026MFEC Public Company Limited announced Annual dividend of THB 0.5000 per share payable on May 15, 2026, ex-date on May 06, 2026 and record date on May 07, 2026.お知らせ • Feb 23MFEC Public Company Limited, Annual General Meeting, Apr 22, 2026MFEC Public Company Limited, Annual General Meeting, Apr 22, 2026, at 10:00 SE Asia Standard Time.Reported Earnings • Nov 13Third quarter 2025 earnings released: EPS: ฿0.17 (vs ฿0.20 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.17 (down from ฿0.20 in 3Q 2024). Revenue: ฿1.77b (up 9.2% from 3Q 2024). Net income: ฿75.6m (down 17% from 3Q 2024). Profit margin: 4.3% (down from 5.6% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.Reported Earnings • Aug 10Second quarter 2025 earnings released: EPS: ฿0.08 (vs ฿0.20 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.08 (down from ฿0.20 in 2Q 2024). Revenue: ฿1.70b (up 2.2% from 2Q 2024). Net income: ฿35.6m (down 59% from 2Q 2024). Profit margin: 2.1% (down from 5.3% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings.お知らせ • Jul 03MFEC Public Company Limited (SET:MFEC) acquired an additional 22.75% stake in Data Café Co., Ltd. from Thanachart Ritbumrung and Tanasak Rattanahirunporn for THB 1.9 million.MFEC Public Company Limited (SET:MFEC) agreed to acquire an additional 22.75% stake in Data Café Co., Ltd. from Thanachart Ritbumrung and Tanasak Rattanahirunporn for THB 1.9 million on May 14, 2025. A cash consideration of THB 1.94 million will be paid by MFEC Public Company Limited. As part of consideration, THB 1.94 million is paid towards common equity of Data Café Co., Ltd. Upon completion, MFEC Public Company Limited will own 64.93% stake in Data Café Co., Ltd. The transaction will be financed through working capital of MFEC Public Company Limited. The expected completion of the transaction is by June 2025. MFEC Public Company Limited (SET:MFEC) completed the acquisition of an additional 22.75% stake in Data Café Co., Ltd. from Thanachart Ritbumrung and Tanasak Rattanahirunporn on July 2, 2025. As a result of this transaction, the MFEC Public Company Limited's shareholding in Data Café Co., Ltd. has increased from 42.18% to 64.93%. However, such additional investment does not result in a change of investment classification to a subsidiary of the Group. Data Café Co., Ltd. remains classified as investment in joint venture, in accordance with the terms stipulated in the Shareholders' Agreement between MFEC Public Company Limited and the other JV partner.New Risk • May 22New major risk - Revenue and earnings growthEarnings have declined by 15% 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 15% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (฿2.45b market cap, or US$75.1m).Reported Earnings • May 15First quarter 2025 earnings released: EPS: ฿0.14 (vs ฿0.11 in 1Q 2024)First quarter 2025 results: EPS: ฿0.14 (up from ฿0.11 in 1Q 2024). Revenue: ฿1.59b (down 11% from 1Q 2024). Net income: ฿60.3m (up 27% from 1Q 2024). Profit margin: 3.8% (up from 2.7% in 1Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year and the company’s share price has also fallen by 15% per year.お知らせ • Apr 24MFEC Public Company Limited Approves Dividend for the Year 2024, Payable on May 16, 2025MFEC Public Company Limited at its AGM held on April 22, 2025, approved none of profit appropriation for the reserved fund as the Company had already the reserved fund as required by the laws and allocating accumulative profit until December 31, 2024 for dividend payment. The entitled shareholders will be listed for dividend allotment on May 2, 2025. The dividend will be made to the shareholders at THB 0.50 (fifty Satang) as per share, in which the shareholders must be subject to withholding tax at the rate of 10% of dividend received. The dividend payment will be paid to the shareholders on May 16, 2025.Upcoming Dividend • Apr 23Upcoming dividend of ฿0.50 per shareEligible shareholders must have bought the stock before 30 April 2025. Payment date: 16 May 2025. Payout ratio is on the higher end at 81%, however this is supported by cash flows. Trailing yield: 8.5%. Within top quartile of Thai dividend payers (8.1%). Higher than average of industry peers (7.2%).Declared Dividend • Feb 27Dividend increased to ฿0.50Dividend of ฿0.50 is 25% higher than last year. Ex-date: 30th April 2025 Payment date: 16th May 2025 Dividend yield will be 8.4%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is not adequately covered by earnings (90.1% earnings payout ratio). However, it is well covered by cash flows (36% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 3.9% over the last 5 years, which if continued should maintain adequate earnings cover for the dividend.Reported Earnings • Feb 26Full year 2024 earnings released: EPS: ฿0.62 (vs ฿1.56 in FY 2023)Full year 2024 results: EPS: ฿0.62 (down from ฿1.56 in FY 2023). Revenue: ฿6.86b (up 1.2% from FY 2023). Net income: ฿272.3m (down 61% from FY 2023). Profit margin: 4.0% (down from 10% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings.お知らせ • Feb 25+ 2 more updatesMFEC Public Company Limited, Annual General Meeting, Apr 22, 2025MFEC Public Company Limited, Annual General Meeting, Apr 22, 2025, at 10:00 SE Asia Standard Time.New Risk • Nov 20New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 21% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (90% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.8% net profit margin). Market cap is less than US$100m (฿2.69b market cap, or US$77.9m).Reported Earnings • Nov 17Third quarter 2024 earnings released: EPS: ฿0.21 (vs ฿0.10 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.21 (up from ฿0.10 in 3Q 2023). Revenue: ฿1.66b (down 8.0% from 3Q 2023). Net income: ฿90.5m (up 95% from 3Q 2023). Profit margin: 5.5% (up from 2.6% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings.Reported Earnings • Aug 15Second quarter 2024 earnings released: EPS: ฿0.20 (vs ฿0.04 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.20 (up from ฿0.04 in 2Q 2023). Revenue: ฿1.68b (up 13% from 2Q 2023). Net income: ฿87.8m (up 394% from 2Q 2023). Profit margin: 5.2% (up from 1.2% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.Buy Or Sell Opportunity • Jul 08Now 20% overvaluedOver the last 90 days, the stock has fallen 15% to ฿5.85. The fair value is estimated to be ฿4.87, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 33%.Buy Or Sell Opportunity • Jul 01Now 18% overvaluedOver the last 90 days, the stock has fallen 16% to ฿5.80. The fair value is estimated to be ฿4.91, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 33%.Buy Or Sell Opportunity • Jun 27Now 21% overvaluedOver the last 90 days, the stock has fallen 14% to ฿5.95. The fair value is estimated to be ฿4.91, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 33%.Reported Earnings • May 15First quarter 2024 earnings released: EPS: ฿0.11 (vs ฿1.49 in 1Q 2023)First quarter 2024 results: EPS: ฿0.11 (down from ฿1.49 in 1Q 2023). Revenue: ฿1.81b (up 21% from 1Q 2023). Net income: ฿47.5m (down 93% from 1Q 2023). Profit margin: 2.6% (down from 44% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Apr 23Upcoming dividend of ฿0.40 per shareEligible shareholders must have bought the stock before 30 April 2024. Payment date: 17 May 2024. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 5.8%. Lower than top quartile of Thai dividend payers (6.0%). Higher than average of industry peers (3.7%).お知らせ • Apr 23MFEC Public Company Limited Approves Dividend for 2023 Payable on May 17, 2024MFEC Public Company Limited announced that at its AGM held on April 22, 2024, the shareholders approved none of profit appropriation for the reserved fund as the Company had already the reserved fund as required by the laws and allocating accumulative profit until December 31, 2023 for dividend payment. The entitled shareholders will be listed for dividend allotment on May 2, 2024. The dividend will be made to the shareholders at 0.40 baht (forty Satang) as per share, in which the shareholders must be subject to withholding tax at the rate of 10% of dividend received. The dividend payment will be paid to the shareholders on May 17, 2024.お知らせ • Mar 26MFEC Public Company Limited, Annual General Meeting, Apr 22, 2024MFEC Public Company Limited, Annual General Meeting, Apr 22, 2024, at 10:00 SE Asia Standard Time. Location: No. 349, SJ Infinite One Business Complex, Vibhavadi-Rungsit Road, Chompol, Chatuchak Bangkok ThailandReported Earnings • Mar 01Full year 2023 earnings released: EPS: ฿1.56 (vs ฿0.48 in FY 2022)Full year 2023 results: EPS: ฿1.56 (up from ฿0.48 in FY 2022). Revenue: ฿7.43b (up 36% from FY 2022). Net income: ฿690.3m (up 226% from FY 2022). Profit margin: 9.3% (up from 3.9% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.Declared Dividend • Feb 23Dividend of ฿0.40 announcedDividend of ฿0.40 is the same as last year. Ex-date: 30th April 2024 Payment date: 17th May 2024 Dividend yield will be 5.9%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by earnings (22% earnings payout ratio) but not covered by cash flows (205% cash payout ratio). The dividend has increased by an average of 1.9% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 59% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Board Change • Dec 02Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 6 highly experienced directors. Additional Director Masakazu Kawamura was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.お知らせ • Sep 02Mfec Public Company Limited Announces the Change Address of the Company's New Branch OfficeMFEC Public Company Limited announced that it notify the address of the new branch office, which will now serve as the Executive office, the Sales and Project Management office, and the center for Product, Service, and Personnel Development. This change aims to replace the current branch office due to the impending expiration of the lease contract in 2023. Details are as follows. Original branch office address 333 Lao Peng Nguan Tower 21st Floor, Soi Choeipuang, Vibhavadi Rangsit Rd., Chompol, Chatujak, Bangkok 10900. New branch office address 199 S-Oasis 21st Floor, Vibhavadi Rangsit Rd., Chompol, Chatujak, Bangkok 10900.Reported Earnings • Aug 11Second quarter 2023 earnings released: EPS: ฿0.04 (vs ฿0.094 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.04 (down from ฿0.094 in 2Q 2022). Revenue: ฿1.51b (up 14% from 2Q 2022). Net income: ฿17.8m (down 57% from 2Q 2022). Profit margin: 1.2% (down from 3.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 23% growth forecast for the IT industry in Thailand. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.Major Estimate Revision • May 19Consensus EPS estimates fall by 25%, revenue upgradedThe consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from ฿6.54b to ฿6.64b. EPS estimate fell from ฿0.735 to ฿0.55 per share. Net income forecast to shrink 69% next year vs 34% growth forecast for IT industry in Thailand . Consensus price target of ฿10.80 unchanged from last update. Share price fell 3.8% to ฿7.65 over the past week.Upcoming Dividend • Apr 25Upcoming dividend of ฿0.40 per share at 5.2% yieldEligible shareholders must have bought the stock before 02 May 2023. Payment date: 19 May 2023. Payout ratio and cash payout ratio are on the higher end at 84% and 81% respectively. Trailing yield: 5.2%. Lower than top quartile of Thai dividend payers (6.0%). Higher than average of industry peers (2.8%).Reported Earnings • Feb 26Full year 2022 earnings releasedFull year 2022 results: Revenue: ฿5.49b (up 5.8% from FY 2021). Net income: ฿211.9m (down 18% from FY 2021). Profit margin: 3.9% (down from 5.0% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 41% growth forecast for the IT industry in Thailand. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth.Board Change • Nov 16Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 6 highly experienced directors. Additional Director Masakazu Kawamura was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Aug 12Second quarter 2022 earnings released: EPS: ฿0.09 (vs ฿0.10 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.09 (down from ฿0.10 in 2Q 2021). Revenue: ฿1.35b (up 22% from 2Q 2021). Net income: ฿41.3m (down 9.8% from 2Q 2021). Profit margin: 3.1% (down from 4.1% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 13%, compared to a 43% growth forecast for the industry in Thailand. 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 34% per year, which means it is significantly lagging earnings growth.Reported Earnings • May 15First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2022 results: EPS: ฿0.12 (up from ฿0.11 in 1Q 2021). Revenue: ฿1.26b (up 10% from 1Q 2021). Net income: ฿52.0m (up 5.8% from 1Q 2021). Profit margin: 4.1% (down from 4.3% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) exceeded analyst estimates by 1.8%. Over the next year, revenue is forecast to grow 12%, compared to a 21% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth.Price Target Changed • Apr 27Price target increased to ฿12.55Up from ฿10.50, the current price target is an average from 2 analysts. New target price is 29% above last closing price of ฿9.70. Stock is up 33% over the past year. The company is forecast to post earnings per share of ฿0.65 for next year compared to ฿0.58 last year.Board Change • Apr 27Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 5 highly experienced directors. Additional Director Masakazu Kawamura was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.お知らせ • Feb 25MFEC Public Company Limited, Annual General Meeting, Apr 25, 2022MFEC Public Company Limited, Annual General Meeting, Apr 25, 2022, at 10:00 SE Asia Standard Time. Location: at MFEC Public Company Limited, Head Office No. 349, SJ Infinite One Business Complex Building Vibhavadi-Rungsit Road, Chompol,Chatuchuk, Bangkok Thailand Agenda: To approve the minutes of the Annual General Meeting of Shareholders 2021; to approve the Statement of Financial Status, and Profit and Loss Statement as of 31st December 2021; to approve the dividend allocation from the Company's profit to the shareholders; to approve the appointment of directors in replacement of the directors who retired by rotation; to approve the remuneration to the Board of Directors in 2022; to approve the appointment of the auditors and the remuneration in 2022; and to consider Others (if any).Reported Earnings • Feb 24Full year 2021 earnings: EPS and revenues exceed analyst expectationsFull year 2021 results: EPS: ฿0.58 (up from ฿0.55 in FY 2020). Revenue: ฿5.21b (up 10% from FY 2020). Net income: ฿257.0m (up 5.1% from FY 2020). Profit margin: 4.9% (down from 5.2% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 1.8%. Over the next year, revenue is forecast to grow 6.7%, compared to a 19% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth.お知らせ • Feb 24MFEC Public Company Limited Proposes Cash Dividend, Payable on May 20, 2022MFEC Public Company Limited proposed cash dividend allocation from the Company's net profit gained in the year 2021, at the rate of THB 0.40 per share, and the Company's net profit in 2021 is THB 226.27 million. According to its dividend payment policy, the Company shall pay not less than 50% of the net profit after tax and retained earnings. The dividend payment shall be made on 20th May 2022. The Record Date is set to be on 5th May 2022.Valuation Update With 7 Day Price Move • Jan 24Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to ฿10.00, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 49x in the IT industry in Thailand. Total returns to shareholders of 327% over the past three years.Board Change • Dec 06Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 5 highly experienced directors. Additional Director Masakazu Kawamura was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Nov 17Third quarter 2021 earnings released: EPS ฿0.14 (vs ฿0.09 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿1.26b (up 27% from 3Q 2020). Net income: ฿60.6m (up 53% from 3Q 2020). Profit margin: 4.8% (up from 4.0% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Nov 01Investor sentiment improved over the past weekAfter last week's 15% share price gain to ฿11.30, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 39x in the IT industry in Thailand. Total returns to shareholders of 317% over the past three years.Valuation Update With 7 Day Price Move • Sep 16Investor sentiment improved over the past weekAfter last week's 18% share price gain to ฿9.10, the stock trades at a trailing P/E ratio of 16x. Average forward P/E is 27x in the IT industry in Thailand. Total returns to shareholders of 224% over the past three years.Valuation Update With 7 Day Price Move • Sep 02Investor sentiment improved over the past weekAfter last week's 16% share price gain to ฿7.50, the stock trades at a trailing P/E ratio of 13.3x. Average trailing P/E is 17x in the IT industry in Thailand. Total returns to shareholders of 170% over the past three years.Reported Earnings • Aug 13Second quarter 2021 earnings released: EPS ฿0.10 (vs ฿0.068 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿1.10b (up 36% from 2Q 2020). Net income: ฿45.8m (up 53% from 2Q 2020). Profit margin: 4.1% (up from 3.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.Reported Earnings • May 14First quarter 2021 earnings released: EPS ฿0.11 (vs ฿0.13 in 1Q 2020)The company reported a mediocre first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: ฿1.16b (up 33% from 1Q 2020). Net income: ฿49.1m (down 15% from 1Q 2020). Profit margin: 4.2% (down from 6.6% 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 53% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Apr 29Upcoming dividend of ฿0.40 per shareEligible shareholders must have bought the stock before 05 May 2021. Payment date: 21 May 2021. Trailing yield: 5.5%. Within top quartile of Thai dividend payers (4.9%). Higher than average of industry peers (4.3%).お知らせ • Apr 27MFEC Public Company Limited Approves Dividend, Payable on May 21, 2021MFEC Public Company Limited announced that at its AGM held on April 26, 2021, dividend will be made to the shareholders at THB 0.40 as per share, in which the shareholders must be subject to withholding tax at the rate of 10% of dividend received. The dividend payment will be paid to the shareholders on May 21, 2021.Valuation Update With 7 Day Price Move • Apr 25Investor sentiment improved over the past weekAfter last week's 15% share price gain to ฿7.20, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 16x in the IT industry in Thailand. Total returns to shareholders of 88% over the past three years.Reported Earnings • Feb 25Full year 2020 earnings released: EPS ฿0.55 (vs ฿0.51 in FY 2019)The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: ฿4.74b (up 27% from FY 2019). Net income: ฿244.6m (up 8.5% from FY 2019). Profit margin: 5.2% (down from 6.0% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.お知らせ • Feb 24MFEC Public Company Limited, Annual General Meeting, Apr 26, 2021MFEC Public Company Limited, Annual General Meeting, Apr 26, 2021, at 10:00 SE Asia Standard Time. Agenda: To approve the Minutes of the Annual General Meeting of the Shareholders 2020; to acknowledge the performance of the Company in 2020; to approve the Statement of Financial Status, and Profit and Loss Statement as of 31st December 2020; to approve the dividend allocation from the Company's profit to shareholders; to approve the appointment of a new director; To approve the appointment of directors in replacement of the directors who retired by rotation; to approve the remuneration for the Board of Directors in 2021; and to approve the appointment of the auditors and the remuneration in 2021.Is New 90 Day High Low • Feb 24New 90-day high: ฿5.60The company is up 13% from its price of ฿4.94 on 26 November 2020. The Thai market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 5.0% over the same period.Reported Earnings • Nov 11Third quarter 2020 earnings released: EPS ฿0.09The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿996.8m (up 6.8% from 3Q 2019). Net income: ฿39.7m (up 21% from 3Q 2019). Profit margin: 4.0% (up from 3.5% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.Is New 90 Day High Low • Oct 06New 90-day high: ฿5.10The company is up 16% from its price of ฿4.38 on 08 July 2020. The Thai market is down 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 10.0% over the same period.Is New 90 Day High Low • Sep 24New 90-day high: ฿4.88The company is up 10.0% from its price of ฿4.42 on 25 June 2020. The Thai market is down 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the IT industry, which is up 11% over the same period.収支内訳MFEC 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:MFEC 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 266,981248835031 Dec 256,913235819030 Sep 256,799218802030 Jun 256,648233773031 Mar 256,608285759031 Dec 246,812272796030 Sep 247,040-416862030 Jun 247,230-460886031 Mar 247,059-530919031 Dec 236,76778879030 Sep 236,516806809030 Jun 236,043799784031 Mar 235,779816781031 Dec 225,453212733030 Sep 225,151234630030 Jun 225,079254611031 Mar 224,955265547031 Dec 214,921263558030 Sep 215,554273607030 Jun 215,287252614031 Mar 215,012236607031 Dec 204,731245607030 Sep 203,865253619030 Jun 203,803246599031 Mar 203,878258601031 Dec 193,729225553030 Sep 193,628-110575030 Jun 193,415-119566031 Mar 193,222-168537031 Dec 183,392-166540030 Sep 183,13578489030 Jun 183,260102488031 Mar 183,254149489031 Dec 173,017154484030 Sep 173,263149481030 Jun 173,226182476031 Mar 173,271236513031 Dec 163,260222521030 Sep 163,287280543030 Jun 163,288235562031 Mar 163,285171550031 Dec 153,382197565030 Sep 153,523175588030 Jun 153,9841976110質の高い収益: MFECは 高品質の収益 を持っています。利益率の向上: MFECの現在の純利益率 (3.6%)は、昨年(4.3%)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: MFECの収益は過去 5 年間で年間12.6%減少しました。成長の加速: MFEC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: MFECは過去 1 年間で収益成長率がマイナス ( -13% ) となったため、 IT業界平均 ( -5.4% ) と比較することが困難です。株主資本利益率高いROE: MFECの 自己資本利益率 ( 9.5% ) 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7D1Y7D1Y7D1YSoftware 、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2026/05/28 17:45終値2026/05/28 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MFEC 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。4 アナリスト機関Poramet TongbuaBualuang Securities PCLNapon JaisanBualuang Securities PCLAmnart NgosawangGloblex Securities Co. Ltd.1 その他のアナリストを表示
Reported Earnings • May 14First quarter 2026 earnings released: EPS: ฿0.17 (vs ฿0.14 in 1Q 2025)First quarter 2026 results: EPS: ฿0.17 (up from ฿0.14 in 1Q 2025). Revenue: ฿1.66b (up 4.5% from 1Q 2025). Net income: ฿73.4m (up 22% from 1Q 2025). Profit margin: 4.4% (up from 3.8% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings.
Reported Earnings • Nov 13Third quarter 2025 earnings released: EPS: ฿0.17 (vs ฿0.20 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.17 (down from ฿0.20 in 3Q 2024). Revenue: ฿1.77b (up 9.2% from 3Q 2024). Net income: ฿75.6m (down 17% from 3Q 2024). Profit margin: 4.3% (down from 5.6% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.
Reported Earnings • Aug 10Second quarter 2025 earnings released: EPS: ฿0.08 (vs ฿0.20 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.08 (down from ฿0.20 in 2Q 2024). Revenue: ฿1.70b (up 2.2% from 2Q 2024). Net income: ฿35.6m (down 59% from 2Q 2024). Profit margin: 2.1% (down from 5.3% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings.
Reported Earnings • May 15First quarter 2025 earnings released: EPS: ฿0.14 (vs ฿0.11 in 1Q 2024)First quarter 2025 results: EPS: ฿0.14 (up from ฿0.11 in 1Q 2024). Revenue: ฿1.59b (down 11% from 1Q 2024). Net income: ฿60.3m (up 27% from 1Q 2024). Profit margin: 3.8% (up from 2.7% in 1Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year and the company’s share price has also fallen by 15% per year.
Reported Earnings • Feb 26Full year 2024 earnings released: EPS: ฿0.62 (vs ฿1.56 in FY 2023)Full year 2024 results: EPS: ฿0.62 (down from ฿1.56 in FY 2023). Revenue: ฿6.86b (up 1.2% from FY 2023). Net income: ฿272.3m (down 61% from FY 2023). Profit margin: 4.0% (down from 10% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings.
Reported Earnings • Nov 17Third quarter 2024 earnings released: EPS: ฿0.21 (vs ฿0.10 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.21 (up from ฿0.10 in 3Q 2023). Revenue: ฿1.66b (down 8.0% from 3Q 2023). Net income: ฿90.5m (up 95% from 3Q 2023). Profit margin: 5.5% (up from 2.6% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings.
Reported Earnings • May 14First quarter 2026 earnings released: EPS: ฿0.17 (vs ฿0.14 in 1Q 2025)First quarter 2026 results: EPS: ฿0.17 (up from ฿0.14 in 1Q 2025). Revenue: ฿1.66b (up 4.5% from 1Q 2025). Net income: ฿73.4m (up 22% from 1Q 2025). Profit margin: 4.4% (up from 3.8% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Apr 29Upcoming dividend of ฿0.50 per shareEligible shareholders must have bought the stock before 06 May 2026. Payment date: 15 May 2026. Payout ratio is on the higher end at 94%, however this is supported by cash flows. Trailing yield: 8.3%. Within top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (5.5%).
Declared Dividend • Feb 25Dividend of ฿0.50 announcedDividend of ฿0.50 is the same as last year. Ex-date: 6th May 2026 Payment date: 15th May 2026 Dividend yield will be 8.6%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is not covered by earnings (101% earnings payout ratio). However, it is well covered by cash flows (25% cash payout ratio). The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 13% to bring the payout ratio under control. However, EPS has remained steady over the last 5 years so the company would need to improve on their historical growth rates.
お知らせ • Feb 24MFEC Public Company Limited announces Annual dividend, payable on May 15, 2026MFEC Public Company Limited announced Annual dividend of THB 0.5000 per share payable on May 15, 2026, ex-date on May 06, 2026 and record date on May 07, 2026.
お知らせ • Feb 23MFEC Public Company Limited, Annual General Meeting, Apr 22, 2026MFEC Public Company Limited, Annual General Meeting, Apr 22, 2026, at 10:00 SE Asia Standard Time.
Reported Earnings • Nov 13Third quarter 2025 earnings released: EPS: ฿0.17 (vs ฿0.20 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.17 (down from ฿0.20 in 3Q 2024). Revenue: ฿1.77b (up 9.2% from 3Q 2024). Net income: ฿75.6m (down 17% from 3Q 2024). Profit margin: 4.3% (down from 5.6% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.
Reported Earnings • Aug 10Second quarter 2025 earnings released: EPS: ฿0.08 (vs ฿0.20 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.08 (down from ฿0.20 in 2Q 2024). Revenue: ฿1.70b (up 2.2% from 2Q 2024). Net income: ฿35.6m (down 59% from 2Q 2024). Profit margin: 2.1% (down from 5.3% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings.
お知らせ • Jul 03MFEC Public Company Limited (SET:MFEC) acquired an additional 22.75% stake in Data Café Co., Ltd. from Thanachart Ritbumrung and Tanasak Rattanahirunporn for THB 1.9 million.MFEC Public Company Limited (SET:MFEC) agreed to acquire an additional 22.75% stake in Data Café Co., Ltd. from Thanachart Ritbumrung and Tanasak Rattanahirunporn for THB 1.9 million on May 14, 2025. A cash consideration of THB 1.94 million will be paid by MFEC Public Company Limited. As part of consideration, THB 1.94 million is paid towards common equity of Data Café Co., Ltd. Upon completion, MFEC Public Company Limited will own 64.93% stake in Data Café Co., Ltd. The transaction will be financed through working capital of MFEC Public Company Limited. The expected completion of the transaction is by June 2025. MFEC Public Company Limited (SET:MFEC) completed the acquisition of an additional 22.75% stake in Data Café Co., Ltd. from Thanachart Ritbumrung and Tanasak Rattanahirunporn on July 2, 2025. As a result of this transaction, the MFEC Public Company Limited's shareholding in Data Café Co., Ltd. has increased from 42.18% to 64.93%. However, such additional investment does not result in a change of investment classification to a subsidiary of the Group. Data Café Co., Ltd. remains classified as investment in joint venture, in accordance with the terms stipulated in the Shareholders' Agreement between MFEC Public Company Limited and the other JV partner.
New Risk • May 22New major risk - Revenue and earnings growthEarnings have declined by 15% 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 15% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (฿2.45b market cap, or US$75.1m).
Reported Earnings • May 15First quarter 2025 earnings released: EPS: ฿0.14 (vs ฿0.11 in 1Q 2024)First quarter 2025 results: EPS: ฿0.14 (up from ฿0.11 in 1Q 2024). Revenue: ฿1.59b (down 11% from 1Q 2024). Net income: ฿60.3m (up 27% from 1Q 2024). Profit margin: 3.8% (up from 2.7% in 1Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year and the company’s share price has also fallen by 15% per year.
お知らせ • Apr 24MFEC Public Company Limited Approves Dividend for the Year 2024, Payable on May 16, 2025MFEC Public Company Limited at its AGM held on April 22, 2025, approved none of profit appropriation for the reserved fund as the Company had already the reserved fund as required by the laws and allocating accumulative profit until December 31, 2024 for dividend payment. The entitled shareholders will be listed for dividend allotment on May 2, 2025. The dividend will be made to the shareholders at THB 0.50 (fifty Satang) as per share, in which the shareholders must be subject to withholding tax at the rate of 10% of dividend received. The dividend payment will be paid to the shareholders on May 16, 2025.
Upcoming Dividend • Apr 23Upcoming dividend of ฿0.50 per shareEligible shareholders must have bought the stock before 30 April 2025. Payment date: 16 May 2025. Payout ratio is on the higher end at 81%, however this is supported by cash flows. Trailing yield: 8.5%. Within top quartile of Thai dividend payers (8.1%). Higher than average of industry peers (7.2%).
Declared Dividend • Feb 27Dividend increased to ฿0.50Dividend of ฿0.50 is 25% higher than last year. Ex-date: 30th April 2025 Payment date: 16th May 2025 Dividend yield will be 8.4%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is not adequately covered by earnings (90.1% earnings payout ratio). However, it is well covered by cash flows (36% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 3.9% over the last 5 years, which if continued should maintain adequate earnings cover for the dividend.
Reported Earnings • Feb 26Full year 2024 earnings released: EPS: ฿0.62 (vs ฿1.56 in FY 2023)Full year 2024 results: EPS: ฿0.62 (down from ฿1.56 in FY 2023). Revenue: ฿6.86b (up 1.2% from FY 2023). Net income: ฿272.3m (down 61% from FY 2023). Profit margin: 4.0% (down from 10% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings.
お知らせ • Feb 25+ 2 more updatesMFEC Public Company Limited, Annual General Meeting, Apr 22, 2025MFEC Public Company Limited, Annual General Meeting, Apr 22, 2025, at 10:00 SE Asia Standard Time.
New Risk • Nov 20New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 21% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (90% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.8% net profit margin). Market cap is less than US$100m (฿2.69b market cap, or US$77.9m).
Reported Earnings • Nov 17Third quarter 2024 earnings released: EPS: ฿0.21 (vs ฿0.10 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.21 (up from ฿0.10 in 3Q 2023). Revenue: ฿1.66b (down 8.0% from 3Q 2023). Net income: ฿90.5m (up 95% from 3Q 2023). Profit margin: 5.5% (up from 2.6% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings.
Reported Earnings • Aug 15Second quarter 2024 earnings released: EPS: ฿0.20 (vs ฿0.04 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.20 (up from ฿0.04 in 2Q 2023). Revenue: ฿1.68b (up 13% from 2Q 2023). Net income: ฿87.8m (up 394% from 2Q 2023). Profit margin: 5.2% (up from 1.2% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.
Buy Or Sell Opportunity • Jul 08Now 20% overvaluedOver the last 90 days, the stock has fallen 15% to ฿5.85. The fair value is estimated to be ฿4.87, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 33%.
Buy Or Sell Opportunity • Jul 01Now 18% overvaluedOver the last 90 days, the stock has fallen 16% to ฿5.80. The fair value is estimated to be ฿4.91, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 33%.
Buy Or Sell Opportunity • Jun 27Now 21% overvaluedOver the last 90 days, the stock has fallen 14% to ฿5.95. The fair value is estimated to be ฿4.91, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 33%.
Reported Earnings • May 15First quarter 2024 earnings released: EPS: ฿0.11 (vs ฿1.49 in 1Q 2023)First quarter 2024 results: EPS: ฿0.11 (down from ฿1.49 in 1Q 2023). Revenue: ฿1.81b (up 21% from 1Q 2023). Net income: ฿47.5m (down 93% from 1Q 2023). Profit margin: 2.6% (down from 44% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Apr 23Upcoming dividend of ฿0.40 per shareEligible shareholders must have bought the stock before 30 April 2024. Payment date: 17 May 2024. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 5.8%. Lower than top quartile of Thai dividend payers (6.0%). Higher than average of industry peers (3.7%).
お知らせ • Apr 23MFEC Public Company Limited Approves Dividend for 2023 Payable on May 17, 2024MFEC Public Company Limited announced that at its AGM held on April 22, 2024, the shareholders approved none of profit appropriation for the reserved fund as the Company had already the reserved fund as required by the laws and allocating accumulative profit until December 31, 2023 for dividend payment. The entitled shareholders will be listed for dividend allotment on May 2, 2024. The dividend will be made to the shareholders at 0.40 baht (forty Satang) as per share, in which the shareholders must be subject to withholding tax at the rate of 10% of dividend received. The dividend payment will be paid to the shareholders on May 17, 2024.
お知らせ • Mar 26MFEC Public Company Limited, Annual General Meeting, Apr 22, 2024MFEC Public Company Limited, Annual General Meeting, Apr 22, 2024, at 10:00 SE Asia Standard Time. Location: No. 349, SJ Infinite One Business Complex, Vibhavadi-Rungsit Road, Chompol, Chatuchak Bangkok Thailand
Reported Earnings • Mar 01Full year 2023 earnings released: EPS: ฿1.56 (vs ฿0.48 in FY 2022)Full year 2023 results: EPS: ฿1.56 (up from ฿0.48 in FY 2022). Revenue: ฿7.43b (up 36% from FY 2022). Net income: ฿690.3m (up 226% from FY 2022). Profit margin: 9.3% (up from 3.9% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
Declared Dividend • Feb 23Dividend of ฿0.40 announcedDividend of ฿0.40 is the same as last year. Ex-date: 30th April 2024 Payment date: 17th May 2024 Dividend yield will be 5.9%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by earnings (22% earnings payout ratio) but not covered by cash flows (205% cash payout ratio). The dividend has increased by an average of 1.9% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 59% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Board Change • Dec 02Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 6 highly experienced directors. Additional Director Masakazu Kawamura was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
お知らせ • Sep 02Mfec Public Company Limited Announces the Change Address of the Company's New Branch OfficeMFEC Public Company Limited announced that it notify the address of the new branch office, which will now serve as the Executive office, the Sales and Project Management office, and the center for Product, Service, and Personnel Development. This change aims to replace the current branch office due to the impending expiration of the lease contract in 2023. Details are as follows. Original branch office address 333 Lao Peng Nguan Tower 21st Floor, Soi Choeipuang, Vibhavadi Rangsit Rd., Chompol, Chatujak, Bangkok 10900. New branch office address 199 S-Oasis 21st Floor, Vibhavadi Rangsit Rd., Chompol, Chatujak, Bangkok 10900.
Reported Earnings • Aug 11Second quarter 2023 earnings released: EPS: ฿0.04 (vs ฿0.094 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.04 (down from ฿0.094 in 2Q 2022). Revenue: ฿1.51b (up 14% from 2Q 2022). Net income: ฿17.8m (down 57% from 2Q 2022). Profit margin: 1.2% (down from 3.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 23% growth forecast for the IT industry in Thailand. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.
Major Estimate Revision • May 19Consensus EPS estimates fall by 25%, revenue upgradedThe consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from ฿6.54b to ฿6.64b. EPS estimate fell from ฿0.735 to ฿0.55 per share. Net income forecast to shrink 69% next year vs 34% growth forecast for IT industry in Thailand . Consensus price target of ฿10.80 unchanged from last update. Share price fell 3.8% to ฿7.65 over the past week.
Upcoming Dividend • Apr 25Upcoming dividend of ฿0.40 per share at 5.2% yieldEligible shareholders must have bought the stock before 02 May 2023. Payment date: 19 May 2023. Payout ratio and cash payout ratio are on the higher end at 84% and 81% respectively. Trailing yield: 5.2%. Lower than top quartile of Thai dividend payers (6.0%). Higher than average of industry peers (2.8%).
Reported Earnings • Feb 26Full year 2022 earnings releasedFull year 2022 results: Revenue: ฿5.49b (up 5.8% from FY 2021). Net income: ฿211.9m (down 18% from FY 2021). Profit margin: 3.9% (down from 5.0% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 41% growth forecast for the IT industry in Thailand. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth.
Board Change • Nov 16Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 6 highly experienced directors. Additional Director Masakazu Kawamura was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Aug 12Second quarter 2022 earnings released: EPS: ฿0.09 (vs ฿0.10 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.09 (down from ฿0.10 in 2Q 2021). Revenue: ฿1.35b (up 22% from 2Q 2021). Net income: ฿41.3m (down 9.8% from 2Q 2021). Profit margin: 3.1% (down from 4.1% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 13%, compared to a 43% growth forecast for the industry in Thailand. 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 34% per year, which means it is significantly lagging earnings growth.
Reported Earnings • May 15First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2022 results: EPS: ฿0.12 (up from ฿0.11 in 1Q 2021). Revenue: ฿1.26b (up 10% from 1Q 2021). Net income: ฿52.0m (up 5.8% from 1Q 2021). Profit margin: 4.1% (down from 4.3% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) exceeded analyst estimates by 1.8%. Over the next year, revenue is forecast to grow 12%, compared to a 21% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth.
Price Target Changed • Apr 27Price target increased to ฿12.55Up from ฿10.50, the current price target is an average from 2 analysts. New target price is 29% above last closing price of ฿9.70. Stock is up 33% over the past year. The company is forecast to post earnings per share of ฿0.65 for next year compared to ฿0.58 last year.
Board Change • Apr 27Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 5 highly experienced directors. Additional Director Masakazu Kawamura was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
お知らせ • Feb 25MFEC Public Company Limited, Annual General Meeting, Apr 25, 2022MFEC Public Company Limited, Annual General Meeting, Apr 25, 2022, at 10:00 SE Asia Standard Time. Location: at MFEC Public Company Limited, Head Office No. 349, SJ Infinite One Business Complex Building Vibhavadi-Rungsit Road, Chompol,Chatuchuk, Bangkok Thailand Agenda: To approve the minutes of the Annual General Meeting of Shareholders 2021; to approve the Statement of Financial Status, and Profit and Loss Statement as of 31st December 2021; to approve the dividend allocation from the Company's profit to the shareholders; to approve the appointment of directors in replacement of the directors who retired by rotation; to approve the remuneration to the Board of Directors in 2022; to approve the appointment of the auditors and the remuneration in 2022; and to consider Others (if any).
Reported Earnings • Feb 24Full year 2021 earnings: EPS and revenues exceed analyst expectationsFull year 2021 results: EPS: ฿0.58 (up from ฿0.55 in FY 2020). Revenue: ฿5.21b (up 10% from FY 2020). Net income: ฿257.0m (up 5.1% from FY 2020). Profit margin: 4.9% (down from 5.2% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 1.8%. Over the next year, revenue is forecast to grow 6.7%, compared to a 19% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth.
お知らせ • Feb 24MFEC Public Company Limited Proposes Cash Dividend, Payable on May 20, 2022MFEC Public Company Limited proposed cash dividend allocation from the Company's net profit gained in the year 2021, at the rate of THB 0.40 per share, and the Company's net profit in 2021 is THB 226.27 million. According to its dividend payment policy, the Company shall pay not less than 50% of the net profit after tax and retained earnings. The dividend payment shall be made on 20th May 2022. The Record Date is set to be on 5th May 2022.
Valuation Update With 7 Day Price Move • Jan 24Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to ฿10.00, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 49x in the IT industry in Thailand. Total returns to shareholders of 327% over the past three years.
Board Change • Dec 06Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 5 highly experienced directors. Additional Director Masakazu Kawamura was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Nov 17Third quarter 2021 earnings released: EPS ฿0.14 (vs ฿0.09 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿1.26b (up 27% from 3Q 2020). Net income: ฿60.6m (up 53% from 3Q 2020). Profit margin: 4.8% (up from 4.0% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Nov 01Investor sentiment improved over the past weekAfter last week's 15% share price gain to ฿11.30, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 39x in the IT industry in Thailand. Total returns to shareholders of 317% over the past three years.
Valuation Update With 7 Day Price Move • Sep 16Investor sentiment improved over the past weekAfter last week's 18% share price gain to ฿9.10, the stock trades at a trailing P/E ratio of 16x. Average forward P/E is 27x in the IT industry in Thailand. Total returns to shareholders of 224% over the past three years.
Valuation Update With 7 Day Price Move • Sep 02Investor sentiment improved over the past weekAfter last week's 16% share price gain to ฿7.50, the stock trades at a trailing P/E ratio of 13.3x. Average trailing P/E is 17x in the IT industry in Thailand. Total returns to shareholders of 170% over the past three years.
Reported Earnings • Aug 13Second quarter 2021 earnings released: EPS ฿0.10 (vs ฿0.068 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿1.10b (up 36% from 2Q 2020). Net income: ฿45.8m (up 53% from 2Q 2020). Profit margin: 4.1% (up from 3.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.
Reported Earnings • May 14First quarter 2021 earnings released: EPS ฿0.11 (vs ฿0.13 in 1Q 2020)The company reported a mediocre first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: ฿1.16b (up 33% from 1Q 2020). Net income: ฿49.1m (down 15% from 1Q 2020). Profit margin: 4.2% (down from 6.6% 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 53% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Apr 29Upcoming dividend of ฿0.40 per shareEligible shareholders must have bought the stock before 05 May 2021. Payment date: 21 May 2021. Trailing yield: 5.5%. Within top quartile of Thai dividend payers (4.9%). Higher than average of industry peers (4.3%).
お知らせ • Apr 27MFEC Public Company Limited Approves Dividend, Payable on May 21, 2021MFEC Public Company Limited announced that at its AGM held on April 26, 2021, dividend will be made to the shareholders at THB 0.40 as per share, in which the shareholders must be subject to withholding tax at the rate of 10% of dividend received. The dividend payment will be paid to the shareholders on May 21, 2021.
Valuation Update With 7 Day Price Move • Apr 25Investor sentiment improved over the past weekAfter last week's 15% share price gain to ฿7.20, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 16x in the IT industry in Thailand. Total returns to shareholders of 88% over the past three years.
Reported Earnings • Feb 25Full year 2020 earnings released: EPS ฿0.55 (vs ฿0.51 in FY 2019)The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: ฿4.74b (up 27% from FY 2019). Net income: ฿244.6m (up 8.5% from FY 2019). Profit margin: 5.2% (down from 6.0% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
お知らせ • Feb 24MFEC Public Company Limited, Annual General Meeting, Apr 26, 2021MFEC Public Company Limited, Annual General Meeting, Apr 26, 2021, at 10:00 SE Asia Standard Time. Agenda: To approve the Minutes of the Annual General Meeting of the Shareholders 2020; to acknowledge the performance of the Company in 2020; to approve the Statement of Financial Status, and Profit and Loss Statement as of 31st December 2020; to approve the dividend allocation from the Company's profit to shareholders; to approve the appointment of a new director; To approve the appointment of directors in replacement of the directors who retired by rotation; to approve the remuneration for the Board of Directors in 2021; and to approve the appointment of the auditors and the remuneration in 2021.
Is New 90 Day High Low • Feb 24New 90-day high: ฿5.60The company is up 13% from its price of ฿4.94 on 26 November 2020. The Thai market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 5.0% over the same period.
Reported Earnings • Nov 11Third quarter 2020 earnings released: EPS ฿0.09The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿996.8m (up 6.8% from 3Q 2019). Net income: ฿39.7m (up 21% from 3Q 2019). Profit margin: 4.0% (up from 3.5% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
Is New 90 Day High Low • Oct 06New 90-day high: ฿5.10The company is up 16% from its price of ฿4.38 on 08 July 2020. The Thai market is down 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 10.0% over the same period.
Is New 90 Day High Low • Sep 24New 90-day high: ฿4.88The company is up 10.0% from its price of ฿4.42 on 25 June 2020. The Thai market is down 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the IT industry, which is up 11% over the same period.