View Future GrowthTBN Corporation 過去の業績過去 基準チェック /06TBNの収益は年間平均-37.7%の割合で減少していますが、 Software業界の収益は年間 増加しています。収益は年間9.2% 7.5%割合で 減少しています。 TBNの自己資本利益率は1%であり、純利益率は1.4%です。主要情報-37.73%収益成長率-51.89%EPS成長率Software 業界の成長-1.17%収益成長率-7.53%株主資本利益率0.99%ネット・マージン1.38%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: ฿0.06 loss per share (vs ฿0.089 profit in 1Q 2025)First quarter 2026 results: ฿0.06 loss per share (down from ฿0.089 profit in 1Q 2025). Revenue: ฿86.9m (down 11% from 1Q 2025). Net loss: ฿5.90m (down 167% from profit in 1Q 2025).Reported Earnings • Mar 01Full year 2025 earnings released: EPS: ฿0.20 (vs ฿0.22 in FY 2024)Full year 2025 results: EPS: ฿0.20 (down from ฿0.22 in FY 2024). Revenue: ฿375.9m (up 11% from FY 2024). Net income: ฿19.8m (down 10% from FY 2024). Profit margin: 5.3% (down from 6.5% in FY 2024). The decrease in margin was driven by higher expenses.Reported Earnings • Nov 15Third quarter 2025 earnings released: EPS: ฿0.04 (vs ฿0.13 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.04 (down from ฿0.13 in 3Q 2024). Revenue: ฿95.6m (up 4.8% from 3Q 2024). Net income: ฿4.17m (down 68% from 3Q 2024). Profit margin: 4.4% (down from 14% in 3Q 2024).Reported Earnings • Aug 14Second quarter 2025 earnings released: EPS: ฿0.01 (vs ฿0.14 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.01 (down from ฿0.14 in 2Q 2024). Revenue: ฿93.3m (up 4.2% from 2Q 2024). Net income: ฿1.07m (down 92% from 2Q 2024). Profit margin: 1.1% (down from 15% in 2Q 2024).Reported Earnings • May 14First quarter 2025 earnings released: EPS: ฿0.09 (vs ฿0.079 in 1Q 2024)First quarter 2025 results: EPS: ฿0.09 (up from ฿0.079 in 1Q 2024). Revenue: ฿97.6m (up 5.3% from 1Q 2024). Net income: ฿8.85m (up 12% from 1Q 2024). Profit margin: 9.1% (up from 8.5% in 1Q 2024). The increase in margin was driven by higher revenue.Reported Earnings • Feb 28Full year 2024 earnings released: EPS: ฿0.22 (vs ฿0.84 in FY 2023)Full year 2024 results: EPS: ฿0.22 (down from ฿0.84 in FY 2023). Revenue: ฿339.5m (down 23% from FY 2023). Net income: ฿22.0m (down 70% from FY 2023). Profit margin: 6.5% (down from 17% in FY 2023). The decrease in margin was driven by lower revenue.すべての更新を表示Recent updatesNew Risk • May 17New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 58% 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: Major Risk Earnings have declined by 38% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (dividend per share is over 12x earnings per share). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.4% net profit margin). Market cap is less than US$100m (฿358.0m market cap, or US$11.0m).Reported Earnings • May 17First quarter 2026 earnings released: ฿0.06 loss per share (vs ฿0.089 profit in 1Q 2025)First quarter 2026 results: ฿0.06 loss per share (down from ฿0.089 profit in 1Q 2025). Revenue: ฿86.9m (down 11% from 1Q 2025). Net loss: ฿5.90m (down 167% from profit in 1Q 2025).Upcoming Dividend • Apr 30Upcoming dividend of ฿0.21 per shareEligible shareholders must have bought the stock before 07 May 2026. Payment date: 27 May 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.9%. Lower than top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (1.0%).Reported Earnings • Mar 01Full year 2025 earnings released: EPS: ฿0.20 (vs ฿0.22 in FY 2024)Full year 2025 results: EPS: ฿0.20 (down from ฿0.22 in FY 2024). Revenue: ฿375.9m (up 11% from FY 2024). Net income: ฿19.8m (down 10% from FY 2024). Profit margin: 5.3% (down from 6.5% in FY 2024). The decrease in margin was driven by higher expenses.Declared Dividend • Mar 01Dividend increased to ฿0.21Dividend of ฿0.21 is 11% higher than last year. Ex-date: 7th May 2026 Payment date: 27th May 2026 Dividend yield will be 5.5%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 12x earnings). However, it is well covered by cash flows (23% cash payout ratio). The dividend has increased by an average of 16% per year over the past 2 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 1,251% to bring the payout ratio under control. However, EPS has declined by 51% over the last 5 years so the company would need to reverse this trend.お知らせ • Feb 28TBN Corporation Public Company Limited announces Annual dividend, payable on May 27, 2026TBN Corporation Public Company Limited announced Annual dividend of THB 0.1800 per share payable on May 27, 2026, ex-date on May 07, 2026 and record date on May 08, 2026.お知らせ • Feb 27TBN Corporation Public Company Limited, Annual General Meeting, Apr 27, 2026TBN Corporation Public Company Limited, Annual General Meeting, Apr 27, 2026, at 14:00 SE Asia Standard Time.Reported Earnings • Nov 15Third quarter 2025 earnings released: EPS: ฿0.04 (vs ฿0.13 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.04 (down from ฿0.13 in 3Q 2024). Revenue: ฿95.6m (up 4.8% from 3Q 2024). Net income: ฿4.17m (down 68% from 3Q 2024). Profit margin: 4.4% (down from 14% in 3Q 2024).Reported Earnings • Aug 14Second quarter 2025 earnings released: EPS: ฿0.01 (vs ฿0.14 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.01 (down from ฿0.14 in 2Q 2024). Revenue: ฿93.3m (up 4.2% from 2Q 2024). Net income: ฿1.07m (down 92% from 2Q 2024). Profit margin: 1.1% (down from 15% in 2Q 2024).New Risk • May 22New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. Cash payout ratio: 90% Dividend yield: 3.3% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 19% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (90% cash payout ratio). Profit margins are more than 30% lower than last year (6.7% net profit margin). Market cap is less than US$100m (฿595.0m market cap, or US$18.2m).Reported Earnings • May 14First quarter 2025 earnings released: EPS: ฿0.09 (vs ฿0.079 in 1Q 2024)First quarter 2025 results: EPS: ฿0.09 (up from ฿0.079 in 1Q 2024). Revenue: ฿97.6m (up 5.3% from 1Q 2024). Net income: ฿8.85m (up 12% from 1Q 2024). Profit margin: 9.1% (up from 8.5% in 1Q 2024). The increase in margin was driven by higher revenue.Upcoming Dividend • Apr 29Upcoming dividend of ฿0.19 per shareEligible shareholders must have bought the stock before 06 May 2025. Payment date: 23 May 2025. Payout ratio is a comfortable 17% and the cash payout ratio is 84%. Trailing yield: 2.4%. Lower than top quartile of Thai dividend payers (7.9%). Higher than average of industry peers (1.0%).お知らせ • Apr 29Tbn Corporation Public Company Limited Approves Dividend for the Year 2024, Payable on May 23, 2025TBN Corporation Public Company Limited in its Annual General Meeting of Shareholders held on April 28, 2025 approved the non-allocation of profits for legal reserve and the payment of a final dividend for the year 2024 from the Company's net profit according to the financial statements for the period January 1, 2024 to December 31, 2024, at a rate of THB 0.19 per share, amounting to THB 19.00 million, or 96.76% of the net profit of THB 19.64 million according to the Company's financial statements for the period January 1, 2024 to December 31, 2024. The total dividend will be subject to withholding tax at the rate prescribed by law. The proposed dividend payment is in line with the Company's dividend policy. The details of the proposed dividend payment are as follows: Dividend from BOI Promoted Profit: At a rate of THB 0.14 per share, amounting to THB 14.00 million. Dividend from Non-BOI Promoted Profit: At a rate of THB 0.05 per share, amounting to THB 5.00 million. The Company has scheduled the Record Date on May 7, 2025, and the actual dividend payment for the operating results of the fiscal year 2024 on May 23, 2025.Reported Earnings • Feb 28Full year 2024 earnings released: EPS: ฿0.22 (vs ฿0.84 in FY 2023)Full year 2024 results: EPS: ฿0.22 (down from ฿0.84 in FY 2023). Revenue: ฿339.5m (down 23% from FY 2023). Net income: ฿22.0m (down 70% from FY 2023). Profit margin: 6.5% (down from 17% in FY 2023). The decrease in margin was driven by lower revenue.お知らせ • Feb 27+ 1 more updateTBN Corporation Public Company Limited Proposes Cash Dividend for the Operating Period from 1 January 2024 to 31 December 2024, Payable on 23 May 2025TBN Corporation Public Company Limited announced that at its AGM to be held on 28 April 2025, to propose cash dividend of THB 0.19 per share for the operating period from 1 January 2024 to 31 December 2024. Record date for the right to receive dividends is 7 May 2025. Ex-dividend date is 6 May 2025. Payment date is 23 May 2025.Buy Or Sell Opportunity • Feb 24Now 22% undervalued after recent price dropOver the last 90 days, the stock has fallen 3.9% to ฿6.15. The fair value is estimated to be ฿7.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has declined by 31%.Buy Or Sell Opportunity • Feb 07Now 20% undervaluedOver the last 90 days, the stock has risen 3.9% to ฿6.70. The fair value is estimated to be ฿8.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has declined by 31%.New Risk • Jan 28New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (฿775.0m market cap, or US$22.9m).Buy Or Sell Opportunity • Jan 16Now 20% undervaluedOver the last 90 days, the stock has risen 7.0% to ฿6.85. The fair value is estimated to be ฿8.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has declined by 31%.Buy Or Sell Opportunity • Dec 04Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 2.9% to ฿6.80. The fair value is estimated to be ฿8.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has declined by 31%.Valuation Update With 7 Day Price Move • Aug 21Investor sentiment improves as stock rises 15%After last week's 15% share price gain to ฿6.75, the stock trades at a trailing P/E ratio of 11.6x. Average forward P/E is 22x in the Software industry in Asia. Total loss to shareholders of 66% over the past year.お知らせ • Aug 17TBN Corporation Public Company Limited Announces Director and Committee ChangesTBN Corporation Public Company Limited announced that the Board of Directors' Meeting No. 3/2024 held on August 14, 2024, has resolved to approve the appointment of directors to replace Mr. Sam Tanskul, who resigned from all positions as a director of the Company on May 20, 2024, as follows: Appointment of Mr. Wirawat Panthawangkun, currently serving as Director, Independent Director, Chairman of the Audit Committee, and Member of the Nomination and Remuneration Committee, as Vice Chairman of the Board and Chairman of the Risk Management Committee in addition to his current positions, to replace the resigned director, effective from August 14, 2024 onwards. Appointment of Mr. Pradit Mahasaksiri, to be a director of the Company, Independent Director, and Audit Committee Member, and Chairman of the Nomination and Remuneration Committee of the Company, replacing the resigned director, by serving out the remaining term of the resigned director, effective from August 14, 2024 onwards.Reported Earnings • Aug 16Second quarter 2024 earnings released: EPS: ฿0.14 (vs ฿0.16 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.14. Revenue: ฿89.6m (down 13% from 2Q 2023). Net income: ฿13.6m (up 7.3% from 2Q 2023). Profit margin: 15% (up from 12% in 2Q 2023). The increase in margin was driven by lower expenses.New Risk • Jul 23New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 9.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (58% accrual ratio). Minor Risks Dividend is not well covered by cash flows (372% cash payout ratio). Share price has been volatile over the past 3 months (9.0% average weekly change). Market cap is less than US$100m (฿530.0m market cap, or US$14.6m).Valuation Update With 7 Day Price Move • Jul 19Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to ฿7.00, the stock trades at a trailing P/E ratio of 12.2x. Average forward P/E is 24x in the Software industry in Asia. Total loss to shareholders of 65% over the past year.Reported Earnings • May 15First quarter 2024 earnings released: EPS: ฿0.08 (vs ฿0.33 in 1Q 2023)First quarter 2024 results: EPS: ฿0.08 (down from ฿0.33 in 1Q 2023). Revenue: ฿92.6m (down 21% from 1Q 2023). Net income: ฿7.91m (down 68% from 1Q 2023). Profit margin: 8.5% (down from 21% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Software industry in Asia.お知らせ • Mar 01TBN Corporation Public Company Limited, Annual General Meeting, Apr 29, 2024TBN Corporation Public Company Limited, Annual General Meeting, Apr 29, 2024, at 14:00 SE Asia Standard Time. Agenda: To Acknowledge the company's operating result and the Annual Report for the year 2023; to consider and approve the Financial Statements of the company for the fiscal year 2023, ending on December 31, 2023; to consider and approve the non-allocation of profits for legal reserve and the dividend payment from the company's operating result for the fiscal year ending on December 31, 2023; to consider and approve the election of directors to replace those who are due to retire by rotation; to consider and approve the appointment of auditors and fix the Annual Fee for the year 2024; and to consider other matters.お知らせ • Feb 29TBN Corporation Public Company Limited Proposes Cash Dividend for the Operating Period from July 1, 2023 to December 31, 2023, Payable on May 20, 2024TBN Corporation Public Company Limited proposed cash dividend of THB 0.14 per share for the operating period from July 1, 2023 to December 31, 2023. Dividend payable on May 20, 2024, record date of May 10, 2024 and ex-dividend date of May 9, 2024.Valuation Update With 7 Day Price Move • Nov 20Investor sentiment improves as stock rises 29%After last week's 29% share price gain to ฿16.10, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 28x in the Software industry in Asia.Valuation Update With 7 Day Price Move • Oct 02Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ฿16.10, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 27x in the Software industry in Asia.Buying Opportunity • Sep 28Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 15%. The fair value is estimated to be ฿22.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last year. Earnings per share has declined by 69%. Revenue is forecast to grow by 43% in 2 years. Earnings is forecast to grow by 130% in the next 2 years.Reported Earnings • Aug 15Second quarter 2023 earnings released: EPS: ฿0.16 (vs ฿0.15 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.16 (up from ฿0.15 in 2Q 2022). Revenue: ฿102.5m (up 19% from 2Q 2022). Net income: ฿12.7m (up 68% from 2Q 2022). Profit margin: 12% (up from 8.8% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Software industry in Asia.お知らせ • Jun 22TBN Corporation Public Company Limited Announces Resignation of Mr. Sayam Siwarapornskul and Mr. Visuth Udompitisub as Director of the Company and Authorized Director, Effective from June 19, 2023 OnwardsTBN Corporation Public Company Limited announced that Mr. Sayam Siwarapornskul and Mr. Visuth Udompitisub have resigned from the position of Director of the Company and Authorized Director, effective from June 19, 2023 onwards.New Risk • Jun 21New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 35% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Dividend is not well covered by earnings and cash flows. Dividend per share is over 17x earnings per share. Dividend per share is over 24x cash flows per share. High level of non-cash earnings (35% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (14% net profit margin). Market cap is less than US$100m (฿2.08b market cap, or US$59.7m).Reported Earnings • Jun 21First quarter 2023 earnings released: EPS: ฿0.33 (vs ฿0.15 in 1Q 2022)First quarter 2023 results: EPS: ฿0.33 (up from ฿0.15 in 1Q 2022). Revenue: ฿116.8m (up 26% from 1Q 2022). Net income: ฿24.9m (up 7.0% from 1Q 2022). Profit margin: 21% (down from 25% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Software industry in Asia.収支内訳TBN Corporation 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:TBN 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 26365572031 Dec 253762072030 Sep 25353274030 Jun 253481074031 Mar 253442371031 Dec 243392269030 Sep 243835368030 Jun 244015866031 Mar 244145766031 Dec 234387465030 Sep 234466764030 Jun 234225665031 Mar 234085562031 Dec 223613758030 Sep 223374951031 Dec 212917837031 Dec 2021684250質の高い収益: TBNにはTHB2.7M } という大きな 一回限りの 利益があり、過去 12 か月の財務実績が31st March, 2026に影響を及ぼしています。利益率の向上: TBNの現在の純利益率 (1.4%)は、昨年(6.7%)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: TBNの収益は過去 5 年間で年間37.7%減少しました。成長の加速: TBN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: TBNは過去 1 年間で収益成長率がマイナス ( -78.1% ) となったため、 Software業界平均 ( 10.3% ) と比較することが困難です。株主資本利益率高いROE: TBNの 自己資本利益率 ( 1% ) は 低い とみなされます。総資産利益率使用総資本利益率過去の好業績企業の発掘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2026/05/21 08:30終値2026/05/21 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋TBN Corporation 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。2 アナリスト機関Wikij TirawannaratBualuang Securities PCLPoramet TongbuaBualuang Securities PCL
Reported Earnings • May 17First quarter 2026 earnings released: ฿0.06 loss per share (vs ฿0.089 profit in 1Q 2025)First quarter 2026 results: ฿0.06 loss per share (down from ฿0.089 profit in 1Q 2025). Revenue: ฿86.9m (down 11% from 1Q 2025). Net loss: ฿5.90m (down 167% from profit in 1Q 2025).
Reported Earnings • Mar 01Full year 2025 earnings released: EPS: ฿0.20 (vs ฿0.22 in FY 2024)Full year 2025 results: EPS: ฿0.20 (down from ฿0.22 in FY 2024). Revenue: ฿375.9m (up 11% from FY 2024). Net income: ฿19.8m (down 10% from FY 2024). Profit margin: 5.3% (down from 6.5% in FY 2024). The decrease in margin was driven by higher expenses.
Reported Earnings • Nov 15Third quarter 2025 earnings released: EPS: ฿0.04 (vs ฿0.13 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.04 (down from ฿0.13 in 3Q 2024). Revenue: ฿95.6m (up 4.8% from 3Q 2024). Net income: ฿4.17m (down 68% from 3Q 2024). Profit margin: 4.4% (down from 14% in 3Q 2024).
Reported Earnings • Aug 14Second quarter 2025 earnings released: EPS: ฿0.01 (vs ฿0.14 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.01 (down from ฿0.14 in 2Q 2024). Revenue: ฿93.3m (up 4.2% from 2Q 2024). Net income: ฿1.07m (down 92% from 2Q 2024). Profit margin: 1.1% (down from 15% in 2Q 2024).
Reported Earnings • May 14First quarter 2025 earnings released: EPS: ฿0.09 (vs ฿0.079 in 1Q 2024)First quarter 2025 results: EPS: ฿0.09 (up from ฿0.079 in 1Q 2024). Revenue: ฿97.6m (up 5.3% from 1Q 2024). Net income: ฿8.85m (up 12% from 1Q 2024). Profit margin: 9.1% (up from 8.5% in 1Q 2024). The increase in margin was driven by higher revenue.
Reported Earnings • Feb 28Full year 2024 earnings released: EPS: ฿0.22 (vs ฿0.84 in FY 2023)Full year 2024 results: EPS: ฿0.22 (down from ฿0.84 in FY 2023). Revenue: ฿339.5m (down 23% from FY 2023). Net income: ฿22.0m (down 70% from FY 2023). Profit margin: 6.5% (down from 17% in FY 2023). The decrease in margin was driven by lower revenue.
New Risk • May 17New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 58% 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: Major Risk Earnings have declined by 38% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (dividend per share is over 12x earnings per share). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.4% net profit margin). Market cap is less than US$100m (฿358.0m market cap, or US$11.0m).
Reported Earnings • May 17First quarter 2026 earnings released: ฿0.06 loss per share (vs ฿0.089 profit in 1Q 2025)First quarter 2026 results: ฿0.06 loss per share (down from ฿0.089 profit in 1Q 2025). Revenue: ฿86.9m (down 11% from 1Q 2025). Net loss: ฿5.90m (down 167% from profit in 1Q 2025).
Upcoming Dividend • Apr 30Upcoming dividend of ฿0.21 per shareEligible shareholders must have bought the stock before 07 May 2026. Payment date: 27 May 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.9%. Lower than top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (1.0%).
Reported Earnings • Mar 01Full year 2025 earnings released: EPS: ฿0.20 (vs ฿0.22 in FY 2024)Full year 2025 results: EPS: ฿0.20 (down from ฿0.22 in FY 2024). Revenue: ฿375.9m (up 11% from FY 2024). Net income: ฿19.8m (down 10% from FY 2024). Profit margin: 5.3% (down from 6.5% in FY 2024). The decrease in margin was driven by higher expenses.
Declared Dividend • Mar 01Dividend increased to ฿0.21Dividend of ฿0.21 is 11% higher than last year. Ex-date: 7th May 2026 Payment date: 27th May 2026 Dividend yield will be 5.5%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 12x earnings). However, it is well covered by cash flows (23% cash payout ratio). The dividend has increased by an average of 16% per year over the past 2 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 1,251% to bring the payout ratio under control. However, EPS has declined by 51% over the last 5 years so the company would need to reverse this trend.
お知らせ • Feb 28TBN Corporation Public Company Limited announces Annual dividend, payable on May 27, 2026TBN Corporation Public Company Limited announced Annual dividend of THB 0.1800 per share payable on May 27, 2026, ex-date on May 07, 2026 and record date on May 08, 2026.
お知らせ • Feb 27TBN Corporation Public Company Limited, Annual General Meeting, Apr 27, 2026TBN Corporation Public Company Limited, Annual General Meeting, Apr 27, 2026, at 14:00 SE Asia Standard Time.
Reported Earnings • Nov 15Third quarter 2025 earnings released: EPS: ฿0.04 (vs ฿0.13 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.04 (down from ฿0.13 in 3Q 2024). Revenue: ฿95.6m (up 4.8% from 3Q 2024). Net income: ฿4.17m (down 68% from 3Q 2024). Profit margin: 4.4% (down from 14% in 3Q 2024).
Reported Earnings • Aug 14Second quarter 2025 earnings released: EPS: ฿0.01 (vs ฿0.14 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.01 (down from ฿0.14 in 2Q 2024). Revenue: ฿93.3m (up 4.2% from 2Q 2024). Net income: ฿1.07m (down 92% from 2Q 2024). Profit margin: 1.1% (down from 15% in 2Q 2024).
New Risk • May 22New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. Cash payout ratio: 90% Dividend yield: 3.3% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 19% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (90% cash payout ratio). Profit margins are more than 30% lower than last year (6.7% net profit margin). Market cap is less than US$100m (฿595.0m market cap, or US$18.2m).
Reported Earnings • May 14First quarter 2025 earnings released: EPS: ฿0.09 (vs ฿0.079 in 1Q 2024)First quarter 2025 results: EPS: ฿0.09 (up from ฿0.079 in 1Q 2024). Revenue: ฿97.6m (up 5.3% from 1Q 2024). Net income: ฿8.85m (up 12% from 1Q 2024). Profit margin: 9.1% (up from 8.5% in 1Q 2024). The increase in margin was driven by higher revenue.
Upcoming Dividend • Apr 29Upcoming dividend of ฿0.19 per shareEligible shareholders must have bought the stock before 06 May 2025. Payment date: 23 May 2025. Payout ratio is a comfortable 17% and the cash payout ratio is 84%. Trailing yield: 2.4%. Lower than top quartile of Thai dividend payers (7.9%). Higher than average of industry peers (1.0%).
お知らせ • Apr 29Tbn Corporation Public Company Limited Approves Dividend for the Year 2024, Payable on May 23, 2025TBN Corporation Public Company Limited in its Annual General Meeting of Shareholders held on April 28, 2025 approved the non-allocation of profits for legal reserve and the payment of a final dividend for the year 2024 from the Company's net profit according to the financial statements for the period January 1, 2024 to December 31, 2024, at a rate of THB 0.19 per share, amounting to THB 19.00 million, or 96.76% of the net profit of THB 19.64 million according to the Company's financial statements for the period January 1, 2024 to December 31, 2024. The total dividend will be subject to withholding tax at the rate prescribed by law. The proposed dividend payment is in line with the Company's dividend policy. The details of the proposed dividend payment are as follows: Dividend from BOI Promoted Profit: At a rate of THB 0.14 per share, amounting to THB 14.00 million. Dividend from Non-BOI Promoted Profit: At a rate of THB 0.05 per share, amounting to THB 5.00 million. The Company has scheduled the Record Date on May 7, 2025, and the actual dividend payment for the operating results of the fiscal year 2024 on May 23, 2025.
Reported Earnings • Feb 28Full year 2024 earnings released: EPS: ฿0.22 (vs ฿0.84 in FY 2023)Full year 2024 results: EPS: ฿0.22 (down from ฿0.84 in FY 2023). Revenue: ฿339.5m (down 23% from FY 2023). Net income: ฿22.0m (down 70% from FY 2023). Profit margin: 6.5% (down from 17% in FY 2023). The decrease in margin was driven by lower revenue.
お知らせ • Feb 27+ 1 more updateTBN Corporation Public Company Limited Proposes Cash Dividend for the Operating Period from 1 January 2024 to 31 December 2024, Payable on 23 May 2025TBN Corporation Public Company Limited announced that at its AGM to be held on 28 April 2025, to propose cash dividend of THB 0.19 per share for the operating period from 1 January 2024 to 31 December 2024. Record date for the right to receive dividends is 7 May 2025. Ex-dividend date is 6 May 2025. Payment date is 23 May 2025.
Buy Or Sell Opportunity • Feb 24Now 22% undervalued after recent price dropOver the last 90 days, the stock has fallen 3.9% to ฿6.15. The fair value is estimated to be ฿7.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has declined by 31%.
Buy Or Sell Opportunity • Feb 07Now 20% undervaluedOver the last 90 days, the stock has risen 3.9% to ฿6.70. The fair value is estimated to be ฿8.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has declined by 31%.
New Risk • Jan 28New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (฿775.0m market cap, or US$22.9m).
Buy Or Sell Opportunity • Jan 16Now 20% undervaluedOver the last 90 days, the stock has risen 7.0% to ฿6.85. The fair value is estimated to be ฿8.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has declined by 31%.
Buy Or Sell Opportunity • Dec 04Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 2.9% to ฿6.80. The fair value is estimated to be ฿8.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has declined by 31%.
Valuation Update With 7 Day Price Move • Aug 21Investor sentiment improves as stock rises 15%After last week's 15% share price gain to ฿6.75, the stock trades at a trailing P/E ratio of 11.6x. Average forward P/E is 22x in the Software industry in Asia. Total loss to shareholders of 66% over the past year.
お知らせ • Aug 17TBN Corporation Public Company Limited Announces Director and Committee ChangesTBN Corporation Public Company Limited announced that the Board of Directors' Meeting No. 3/2024 held on August 14, 2024, has resolved to approve the appointment of directors to replace Mr. Sam Tanskul, who resigned from all positions as a director of the Company on May 20, 2024, as follows: Appointment of Mr. Wirawat Panthawangkun, currently serving as Director, Independent Director, Chairman of the Audit Committee, and Member of the Nomination and Remuneration Committee, as Vice Chairman of the Board and Chairman of the Risk Management Committee in addition to his current positions, to replace the resigned director, effective from August 14, 2024 onwards. Appointment of Mr. Pradit Mahasaksiri, to be a director of the Company, Independent Director, and Audit Committee Member, and Chairman of the Nomination and Remuneration Committee of the Company, replacing the resigned director, by serving out the remaining term of the resigned director, effective from August 14, 2024 onwards.
Reported Earnings • Aug 16Second quarter 2024 earnings released: EPS: ฿0.14 (vs ฿0.16 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.14. Revenue: ฿89.6m (down 13% from 2Q 2023). Net income: ฿13.6m (up 7.3% from 2Q 2023). Profit margin: 15% (up from 12% in 2Q 2023). The increase in margin was driven by lower expenses.
New Risk • Jul 23New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 9.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (58% accrual ratio). Minor Risks Dividend is not well covered by cash flows (372% cash payout ratio). Share price has been volatile over the past 3 months (9.0% average weekly change). Market cap is less than US$100m (฿530.0m market cap, or US$14.6m).
Valuation Update With 7 Day Price Move • Jul 19Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to ฿7.00, the stock trades at a trailing P/E ratio of 12.2x. Average forward P/E is 24x in the Software industry in Asia. Total loss to shareholders of 65% over the past year.
Reported Earnings • May 15First quarter 2024 earnings released: EPS: ฿0.08 (vs ฿0.33 in 1Q 2023)First quarter 2024 results: EPS: ฿0.08 (down from ฿0.33 in 1Q 2023). Revenue: ฿92.6m (down 21% from 1Q 2023). Net income: ฿7.91m (down 68% from 1Q 2023). Profit margin: 8.5% (down from 21% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Software industry in Asia.
お知らせ • Mar 01TBN Corporation Public Company Limited, Annual General Meeting, Apr 29, 2024TBN Corporation Public Company Limited, Annual General Meeting, Apr 29, 2024, at 14:00 SE Asia Standard Time. Agenda: To Acknowledge the company's operating result and the Annual Report for the year 2023; to consider and approve the Financial Statements of the company for the fiscal year 2023, ending on December 31, 2023; to consider and approve the non-allocation of profits for legal reserve and the dividend payment from the company's operating result for the fiscal year ending on December 31, 2023; to consider and approve the election of directors to replace those who are due to retire by rotation; to consider and approve the appointment of auditors and fix the Annual Fee for the year 2024; and to consider other matters.
お知らせ • Feb 29TBN Corporation Public Company Limited Proposes Cash Dividend for the Operating Period from July 1, 2023 to December 31, 2023, Payable on May 20, 2024TBN Corporation Public Company Limited proposed cash dividend of THB 0.14 per share for the operating period from July 1, 2023 to December 31, 2023. Dividend payable on May 20, 2024, record date of May 10, 2024 and ex-dividend date of May 9, 2024.
Valuation Update With 7 Day Price Move • Nov 20Investor sentiment improves as stock rises 29%After last week's 29% share price gain to ฿16.10, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 28x in the Software industry in Asia.
Valuation Update With 7 Day Price Move • Oct 02Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ฿16.10, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 27x in the Software industry in Asia.
Buying Opportunity • Sep 28Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 15%. The fair value is estimated to be ฿22.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last year. Earnings per share has declined by 69%. Revenue is forecast to grow by 43% in 2 years. Earnings is forecast to grow by 130% in the next 2 years.
Reported Earnings • Aug 15Second quarter 2023 earnings released: EPS: ฿0.16 (vs ฿0.15 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.16 (up from ฿0.15 in 2Q 2022). Revenue: ฿102.5m (up 19% from 2Q 2022). Net income: ฿12.7m (up 68% from 2Q 2022). Profit margin: 12% (up from 8.8% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Software industry in Asia.
お知らせ • Jun 22TBN Corporation Public Company Limited Announces Resignation of Mr. Sayam Siwarapornskul and Mr. Visuth Udompitisub as Director of the Company and Authorized Director, Effective from June 19, 2023 OnwardsTBN Corporation Public Company Limited announced that Mr. Sayam Siwarapornskul and Mr. Visuth Udompitisub have resigned from the position of Director of the Company and Authorized Director, effective from June 19, 2023 onwards.
New Risk • Jun 21New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 35% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Dividend is not well covered by earnings and cash flows. Dividend per share is over 17x earnings per share. Dividend per share is over 24x cash flows per share. High level of non-cash earnings (35% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (14% net profit margin). Market cap is less than US$100m (฿2.08b market cap, or US$59.7m).
Reported Earnings • Jun 21First quarter 2023 earnings released: EPS: ฿0.33 (vs ฿0.15 in 1Q 2022)First quarter 2023 results: EPS: ฿0.33 (up from ฿0.15 in 1Q 2022). Revenue: ฿116.8m (up 26% from 1Q 2022). Net income: ฿24.9m (up 7.0% from 1Q 2022). Profit margin: 21% (down from 25% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Software industry in Asia.