View ValuationForth Corporation 将来の成長Future 基準チェック /06現在、 Forthの成長と収益を予測するのに十分なアナリストの調査がありません。主要情報n/a収益成長率n/aEPS成長率Electronic 収益成長26.0%収益成長率n/a将来の株主資本利益率n/aアナリストカバレッジLow最終更新日16 May 2026今後の成長に関する最新情報更新なしすべての更新を表示Recent updatesValuation Update With 7 Day Price Move • May 25Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ฿15.50, the stock trades at a trailing P/E ratio of 15.6x. Average forward P/E is 19x in the Electronic industry in Thailand. Total loss to shareholders of 47% over the past three years.Reported Earnings • May 23First quarter 2026 earnings released: EPS: ฿0.18 (vs ฿0.065 in 1Q 2025)First quarter 2026 results: EPS: ฿0.18 (up from ฿0.065 in 1Q 2025). Revenue: ฿2.60b (up 14% from 1Q 2025). Net income: ฿167.8m (up 177% from 1Q 2025). Profit margin: 6.5% (up from 2.6% 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 4% per year but the company’s share price has fallen by 25% per year, which means it is performing significantly worse than earnings.Buy Or Sell Opportunity • May 05Now 43% overvalued after recent price riseOver the last 90 days, the stock has risen 105% to ฿11.60. The fair value is estimated to be ฿8.09, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 23%. Revenue is forecast to grow by 12% in a year. Earnings are forecast to grow by 59% in the next year.Valuation Update With 7 Day Price Move • Apr 29Investor sentiment improves as stock rises 25%After last week's 25% share price gain to ฿8.65, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 15x in the Electronic industry in Thailand. Total loss to shareholders of 67% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿7.64 per share.Valuation Update With 7 Day Price Move • Mar 31Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ฿7.20, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 14x in the Electronic industry in Thailand. Total loss to shareholders of 76% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿7.75 per share.Upcoming Dividend • Mar 06Upcoming dividend of ฿0.21 per shareEligible shareholders must have bought the stock before 13 March 2026. Payment date: 08 May 2026. Trailing yield: 2.8%. Lower than top quartile of Thai dividend payers (7.6%). Higher than average of industry peers (0.5%).New Risk • Mar 04New major risk - Revenue and earnings growthEarnings have declined by 11% 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 Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 11% per year over the past 5 years. Minor Risk High level of debt (86% net debt to equity).お知らせ • Mar 03+ 1 more updateForth Corporation Public Company Limited (SET:FORTH) agreed to acquire an additional 11.30% stake in Forth EMS Public Company Limited from group of shareholders for THB 45 million.Forth Corporation Public Company Limited (SET:FORTH) agreed to acquire an additional 11.30% stake in Forth EMS Public Company Limited from group of shareholders for THB 45 million on February 27, 2026. A cash consideration of THB 45 million will be paid by Forth Corporation Public Company Limited. As part of consideration, THB 45 million is paid towards common equity of Forth EMS Public Company Limited. Before completion, Forth Corporation Public Company Limited owns 87.5% stake in Forth EMS Public Company Limited. Upon completion, Forth Corporation Public Company Limited will own 98.80% stake in Forth EMS Public Company Limited. The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board. The expected completion of the transaction is April 1, 2026 to June 30, 2026.お知らせ • Mar 02Forth Corporation Public Company Limited, Annual General Meeting, Apr 24, 2026Forth Corporation Public Company Limited, Annual General Meeting, Apr 24, 2026, at 14:00 SE Asia Standard Time. Location: forth smart service plc.s office, building 256, 7th floor, phaholyothin road, samsennai, phayathai, bangkok 10400, ThailandNew Risk • Feb 09New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 9.6% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (4.8% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (9.6% average weekly change).Valuation Update With 7 Day Price Move • Feb 09Investor sentiment improves as stock rises 21%After last week's 21% share price gain to ฿7.10, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 14x in the Electronic industry in Thailand. Total loss to shareholders of 83% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿11.62 per share.Reported Earnings • Nov 18Third quarter 2025 earnings released: EPS: ฿0.44 (vs ฿0.017 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.44 (up from ฿0.017 in 3Q 2024). Revenue: ฿3.80b (up 64% from 3Q 2024). Net income: ฿407.4m (up ฿391.8m from 3Q 2024). Profit margin: 11% (up from 0.7% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 40% per year whereas the company’s share price has fallen by 43% per year.New Risk • Oct 02New 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 6.8% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Profit margins are more than 30% lower than last year (2.3% net profit margin).Buy Or Sell Opportunity • Sep 19Now 23% undervaluedOver the last 90 days, the stock has risen 28% to ฿9.35. The fair value is estimated to be ฿12.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.6% over the last 3 years. Earnings per share has declined by 47%. Revenue is forecast to grow by 43% in a year. Earnings are forecast to grow by 428% in the next year.Valuation Update With 7 Day Price Move • Sep 08Investor sentiment improves as stock rises 18%After last week's 18% share price gain to ฿8.10, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 14x in the Electronic industry in Thailand. Total loss to shareholders of 87% over the past three years.Reported Earnings • Aug 16Second quarter 2025 earnings released: EPS: ฿0.13 (vs ฿0.11 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.13 (up from ฿0.11 in 2Q 2024). Revenue: ฿2.72b (up 5.8% from 2Q 2024). Net income: ฿122.1m (up 16% from 2Q 2024). Profit margin: 4.5% (up from 4.1% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 28% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 47% per year whereas the company’s share price has fallen by 48% per year.Reported Earnings • May 16First quarter 2025 earnings released: EPS: ฿60.00 (vs ฿0.09 in 1Q 2024)First quarter 2025 results: EPS: ฿60.00. Revenue: ฿2.29b (up 9.3% from 1Q 2024). Net income: ฿60.7m (down 28% from 1Q 2024). Profit margin: 2.6% (down from 4.0% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 26% p.a. on average during the next 2 years, compared to a 9.5% growth forecast for the Electronic industry in Thailand.Buy Or Sell Opportunity • May 09Now 22% overvalued after recent price riseOver the last 90 days, the stock has risen 18% to ฿9.65. The fair value is estimated to be ฿7.91, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 32%. Revenue is forecast to grow by 63% in 2 years. Earnings are forecast to grow by 492% in the next 2 years.Buy Or Sell Opportunity • Apr 24Now 23% overvalued after recent price riseOver the last 90 days, the stock has risen 3.2% to ฿9.60. The fair value is estimated to be ฿7.82, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 32%. Revenue is forecast to grow by 63% in 2 years. Earnings are forecast to grow by 492% in the next 2 years.Valuation Update With 7 Day Price Move • Apr 16Investor sentiment improves as stock rises 20%After last week's 20% share price gain to ฿7.95, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 12x in the Electronic industry in Thailand. Total loss to shareholders of 81% over the past three years.お知らせ • Mar 04Forth Corporation Public Company Limited Proposes to Omits Dividend Payment for the Operating Period July 1, 2024 to December 31, 2024Forth Corporation Public Company Limited proposed to omit dividend payment for the operating period July 1, 2024 to December 31, 2024.Reported Earnings • Mar 04Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: EPS: ฿0.24. Revenue: ฿9.15t (up ฿9.14t from FY 2023). Net income: ฿221.3b (up ฿220.7b from FY 2023). Profit margin: 2.4% (down from 5.8% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 10%. Earnings per share (EPS) also missed analyst estimates by 66%. Revenue is expected to decline by 149% p.a. on average during the next 2 years, while revenues in the Electronic industry in Thailand are expected to grow by 11%.お知らせ • Mar 03+ 1 more updateForth Corporation Public Company Limited, Annual General Meeting, Apr 25, 2025Forth Corporation Public Company Limited, Annual General Meeting, Apr 25, 2025, at 14:00 SE Asia Standard Time. Location: forth smart service office building, 256, 7th floor, phaholyothin road, samsennai, phayathai, bangkok 10400, ThailandValuation Update With 7 Day Price Move • Sep 05Investor sentiment improves as stock rises 30%After last week's 30% share price gain to ฿13.60, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Electronic industry in Thailand. Total loss to shareholders of 3.1% over the past three years.Valuation Update With 7 Day Price Move • Aug 22Investor sentiment improves as stock rises 22%After last week's 22% share price gain to ฿11.50, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 15x in the Electronic industry in Thailand. Total loss to shareholders of 22% over the past three years.Buy Or Sell Opportunity • Aug 19Now 23% overvaluedOver the last 90 days, the stock has fallen 42% to ฿10.50. The fair value is estimated to be ฿8.54, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.6% over the last 3 years. Earnings per share has declined by 14%. Revenue is forecast to grow by 49% in 2 years. Earnings are forecast to grow by 240% in the next 2 years.Declared Dividend • Aug 17First half dividend reduced to ฿0.15Dividend of ฿0.15 is 40% lower than last year. Ex-date: 28th August 2024 Payment date: 11th September 2024 Dividend yield will be 3.7%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is not covered by earnings (133% earnings payout ratio). However, it is well covered by cash flows (47% cash payout ratio). The dividend has increased by an average of 7.0% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 48% to bring the payout ratio under control. EPS is expected to grow by 211% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.Reported Earnings • Aug 16Second quarter 2024 earnings released: EPS: ฿0.11 (vs ฿0.22 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.11 (down from ฿0.22 in 2Q 2023). Revenue: ฿2.57b (down 7.8% from 2Q 2023). Net income: ฿105.0m (down 48% from 2Q 2023). Profit margin: 4.1% (down from 7.3% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 14% per year and the company’s share price has also fallen by 14% per year.お知らせ • Aug 16Forth Corporation Public Company Limited Announces Interim Dividend from January 01, 2024 to June 30, 2024, Payable on September 11, 2024Forth Corporation Public Company Limited announced Interim dividend of THB 0.15 for the period from January 01, 2024 to June 30, 2024. Payment date is September 11, 2024. Record date for the right to receive dividends August 29, 2024. Ex-dividend date is August 28, 2024.Buy Or Sell Opportunity • Jul 31Now 39% overvaluedOver the last 90 days, the stock has fallen 39% to ฿10.40. The fair value is estimated to be ฿7.51, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.9% over the last 3 years. Earnings per share has declined by 3.7%. Revenue is forecast to grow by 39% in 2 years. Earnings are forecast to grow by 142% in the next 2 years.Valuation Update With 7 Day Price Move • Jul 30Investor sentiment deteriorates as stock falls 20%After last week's 20% share price decline to ฿8.85, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Electronic industry in Thailand. Total loss to shareholders of 13% over the past three years.Valuation Update With 7 Day Price Move • Jun 20Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ฿13.10, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 16x in the Electronic industry in Thailand. Total returns to shareholders of 17% over the past three years.Reported Earnings • May 16First quarter 2024 earnings released: EPS: ฿0.09 (vs ฿0.24 in 1Q 2023)First quarter 2024 results: EPS: ฿0.09 (down from ฿0.24 in 1Q 2023). Revenue: ฿2.10b (down 20% from 1Q 2023). Net income: ฿84.2m (down 63% from 1Q 2023). Profit margin: 4.0% (down from 8.6% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings.お知らせ • Apr 30Forth Corporation Public Company Limited Approves Dividend Payment for 2023, Payable on 10 May 2024Forth Corporation Public Company Limited at its Annual General Meeting of Shareholders held on 26 April 2024, approved a dividend payment for 2023 at the rate of THB 0.47 per share, a total of THB 439.6 million. The dividend will be paid from the net profit for the year 2023 derived from 20% corporate income tax-paid business, which individual shareholders are subject to 10% withholding tax and shall be entitled to a tax credit. In this regard, the Company has paid an interim dividend for the first six-month period of 2023 at the rate of THB 0.25 per share, totaling THB 233.8 million, the balance of dividend payment in this period will be paid at the rate of THB 0.22 per share, amounting to THB 205.8 million. The dividend will be paid from the net profit for the year 2023 derived from 20% corporate income tax-paid business, which individual shareholders are subject to 10% withholding tax and shall be entitled to a tax credit. The record date to determine shareholders' name for the right to receive the dividend is scheduled on 14 March 2024. The dividend will be paid on 10 May 2024.Valuation Update With 7 Day Price Move • Apr 11Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ฿17.60, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 16x in the Electronic industry in Thailand. Total returns to shareholders of 166% over the past three years.お知らせ • Apr 03Forth Corporation Public Company Limited Announces Resignation of Chakrit Opasudom as Deputy Chief Executive OfficerForth Corporation Public Company Limited announced the resignation of Mr. Chakrit Opasudom, Deputy Chief Executive Officer (Acting), effective from 1 April 2024.Upcoming Dividend • Mar 06Upcoming dividend of ฿0.22 per shareEligible shareholders must have bought the stock before 13 March 2024. Payment date: 10 May 2024. Payout ratio is on the higher end at 77%, and the cash payout ratio is above 100%. Trailing yield: 3.0%. Lower than top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (1.2%).お知らせ • Mar 01Forth Corporation Public Company Limited Proposes Dividend Payment for 2023, Payable on 10 May 2024Forth Corporation Public Company Limited at its board meeting held on 27 February 2024 Resolved to propose the Annual General Meeting of Shareholders to approve a dividend payment for 2023 at the rate of THB 0.47 per share, a total of THB 439.6 million. The dividend will be paid from the net profit for the year 2023 derived from 20% corporate income tax-paid business, which individual shareholders are subject to 10% withholding tax and shall be entitled to a tax credit. In this regard, the Company has paid an interim dividend for the first six-month period of 2023 at the rate of THB 0.25 per share, totaling THB 233.8 million, the balance of dividend payment in this period will be paid at the rate of THB 0.22 per share, amounting to THB 205.8 million. The dividend will be paid from the net profit for the year 2023 derived from 20% corporate income tax-paid business, which individual shareholders are subject to 10% withholding tax and shall be entitled to a tax credit. The record date to determine shareholders' name for the right to receive the dividend is scheduled on 14 March 2024. The dividend will be paid on 10 May 2024. The grant of this right is subjected to the approval by the shareholders' meeting. Ex-dividend date is 13 March 2024.Declared Dividend • Mar 01Final dividend of ฿0.22 announcedShareholders will receive a dividend of ฿0.22. Ex-date: 13th March 2024 Payment date: 10th May 2024 Dividend yield will be 2.9%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by earnings (82% earnings payout ratio) but not covered by cash flows (101% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 114% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Feb 29Full year 2023 earnings released: EPS: ฿0.61 (vs ฿0.83 in FY 2022)Full year 2023 results: EPS: ฿0.61 (down from ฿0.83 in FY 2022). Revenue: ฿9.82b (flat on FY 2022). Net income: ฿572.6m (down 26% from FY 2022). Profit margin: 5.8% (down from 7.9% in FY 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth.Buy Or Sell Opportunity • Jan 23Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 22% to ฿18.60. The fair value is estimated to be ฿23.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 18%. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 44% in the next 2 years.お知らせ • Dec 18Forth Corporation Public Company Limited Announces Executive ChangesThe Board of Directors' Meeting of Forth Corporation Public Company Limited No. 8/2023 on 15 December 2023 passed the following resolutions: Acknowledged the change in organizational structure and change in executive position names effective 15 December 2023. Mr. Chatchavin Pipatchotitham's designation changed from Assistant to Chief Executive Officer to Deputy Chief Executive Officer. Mr. Pattanan Amatanon's designation changed from Assistant Vice President of Project Development to Chief Business Development Officer (CBDO). Ms. Pichamon Amatanon's designation changed from Assistant Vice President of Central Office Administration to Chief Operation Officer (COO). The company also acknowledged the resignation of Mr. Chatchavin. Pipatchotitham from the position of Deputy Chief Executive Officer and member of the Risk Management Committee, effective 1 January 2024.Buying Opportunity • Dec 12Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 41%. The fair value is estimated to be ฿24.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 18%. Revenue is forecast to grow by 28% in 2 years. Earnings is forecast to grow by 44% in the next 2 years.Reported Earnings • Nov 17Third quarter 2023 earnings released: EPS: ฿0.13 (vs ฿0.25 in 3Q 2022)Third quarter 2023 results: EPS: ฿0.13 (down from ฿0.25 in 3Q 2022). Revenue: ฿2.45b (down 11% from 3Q 2022). Net income: ฿122.2m (down 48% from 3Q 2022). Profit margin: 5.0% (down from 8.5% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth.Buying Opportunity • Oct 12Now 22% undervaluedOver the last 90 days, the stock is up 2.8%. The fair value is estimated to be ฿35.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 26%. Revenue is forecast to grow by 26% in 2 years. Earnings is forecast to grow by 43% in the next 2 years.Upcoming Dividend • Aug 22Upcoming dividend of ฿0.25 per share at 2.0% yieldEligible shareholders must have bought the stock before 29 August 2023. Payment date: 08 September 2023. Payout ratio is a comfortable 71% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (0.8%).Reported Earnings • Aug 17Second quarter 2023 earnings released: EPS: ฿0.22 (vs ฿0.16 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.22 (up from ฿0.16 in 2Q 2022). Revenue: ฿2.78b (up 24% from 2Q 2022). Net income: ฿203.6m (up 38% from 2Q 2022). Profit margin: 7.3% (up from 6.5% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 72% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Aug 03Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ฿31.25, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 16x in the Electronic industry in Thailand. Total returns to shareholders of 463% over the past three years.Reported Earnings • May 18First quarter 2023 earnings released: EPS: ฿0.24 (vs ฿0.25 in 1Q 2022)First quarter 2023 results: EPS: ฿0.24 (down from ฿0.25 in 1Q 2022). Revenue: ฿2.61b (up 20% from 1Q 2022). Net income: ฿224.5m (down 5.1% from 1Q 2022). Profit margin: 8.6% (down from 11% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 76% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Mar 16Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ฿32.50, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 17x in the Electronic industry in Thailand. Total returns to shareholders of 581% over the past three years.Upcoming Dividend • Mar 07Upcoming dividend of ฿0.37 per share at 1.4% yieldEligible shareholders must have bought the stock before 14 March 2023. Payment date: 08 May 2023. Payout ratio is a comfortable 52% but the company is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Thai dividend payers (5.7%). Higher than average of industry peers (0.9%).Valuation Update With 7 Day Price Move • Feb 28Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ฿36.50, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 19x in the Electronic industry in Thailand. Total returns to shareholders of 517% over the past three years.Valuation Update With 7 Day Price Move • Jan 26Investor sentiment improves as stock rises 23%After last week's 23% share price gain to ฿43.25, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 21x in the Electronic industry in Thailand. Total returns to shareholders of 690% over the past three years.Reported Earnings • Nov 17Third quarter 2022 earnings released: EPS: ฿0.25 (vs ฿0.16 in 3Q 2021)Third quarter 2022 results: EPS: ฿0.25 (up from ฿0.16 in 3Q 2021). Revenue: ฿2.76b (up 33% from 3Q 2021). Net income: ฿234.9m (up 56% from 3Q 2021). Profit margin: 8.5% (up from 7.3% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has increased by 96% per year, which means it is tracking significantly ahead of earnings growth.Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Vilasinee Puddhikarant was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Valuation Update With 7 Day Price Move • Nov 07Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to ฿45.00, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 19x in the Electronic industry in Thailand. Total returns to shareholders of 802% over the past three years.Valuation Update With 7 Day Price Move • Aug 24Investor sentiment improved over the past weekAfter last week's 18% share price gain to ฿55.25, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 21x in the Electronic industry in Thailand. Total returns to shareholders of 976% over the past three years.Upcoming Dividend • Aug 19Upcoming dividend of ฿0.15 per shareEligible shareholders must have bought the stock before 26 August 2022. Payment date: 09 September 2022. Payout ratio is a comfortable 58% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of Thai dividend payers (5.4%). Lower than average of industry peers (1.1%).Reported Earnings • Aug 18Second quarter 2022 earnings released: EPS: ฿0.16 (vs ฿0.22 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.16 (down from ฿0.22 in 2Q 2021). Revenue: ฿2.25b (up 9.1% from 2Q 2021). Net income: ฿147.1m (down 27% from 2Q 2021). Profit margin: 6.5% (down from 9.8% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 46%, compared to a 80% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 100% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • May 24Investor sentiment improved over the past weekAfter last week's 15% share price gain to ฿50.50, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 18x in the Electronic industry in Thailand. Total returns to shareholders of 913% over the past three years.Reported Earnings • May 19First quarter 2022 earnings: Revenues miss analyst expectationsFirst quarter 2022 results: Revenue: ฿2.17b (up 10% from 1Q 2021). Net income: ฿236.6m (up 28% from 1Q 2021). Profit margin: 11% (up from 9.3% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.9%. Over the next year, revenue is forecast to grow 40%, compared to a 113% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 96% per year, which means it is tracking significantly ahead of earnings growth.Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Vilasinee Puddhikarant was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Valuation Update With 7 Day Price Move • Apr 12Investor sentiment improved over the past weekAfter last week's 17% share price gain to ฿37.75, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 19x in the Electronic industry in Thailand. Total returns to shareholders of 626% over the past three years.Valuation Update With 7 Day Price Move • Mar 21Investor sentiment improved over the past weekAfter last week's 16% share price gain to ฿31.00, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 20x in the Electronic industry in Thailand. Total returns to shareholders of 477% over the past three years.Upcoming Dividend • Mar 04Upcoming dividend of ฿0.30 per shareEligible shareholders must have bought the stock before 11 March 2022. Payment date: 05 May 2022. Payout ratio is a comfortable 58% and the cash payout ratio is 81%. Trailing yield: 1.5%. Lower than top quartile of Thai dividend payers (5.2%). In line with average of industry peers (1.4%).Reported Earnings • Mar 02Full year 2021 earnings: EPS in line with expectations, revenues disappointFull year 2021 results: EPS: ฿0.77 (up from ฿0.47 in FY 2020). Revenue: ฿8.81b (up 24% from FY 2020). Net income: ฿722.8m (up 65% from FY 2020). Profit margin: 8.2% (up from 6.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 35%, compared to a 20% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Feb 23Investor sentiment improved over the past weekAfter last week's 19% share price gain to ฿23.60, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 18x in the Electronic industry in Thailand. Total returns to shareholders of 324% over the past three years.Reported Earnings • Nov 17Third quarter 2021 earnings released: EPS ฿0.16 (vs ฿0.14 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿2.08b (up 13% from 3Q 2020). Net income: ฿150.6m (up 16% from 3Q 2020). Profit margin: 7.3% (up from 7.1% 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 14% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Sep 15Investor sentiment improved over the past weekAfter last week's 23% share price gain to ฿18.50, the stock trades at a trailing P/E ratio of 24.5x. Average trailing P/E is 30x in the Electronic industry in Thailand. Total returns to shareholders of 227% over the past three years.Valuation Update With 7 Day Price Move • Aug 20Investor sentiment improved over the past weekAfter last week's 20% share price gain to ฿15.10, the stock trades at a trailing P/E ratio of 19.9x. Average trailing P/E is 30x in the Electronic industry in Thailand. Total returns to shareholders of 162% over the past three years.Upcoming Dividend • Aug 19Upcoming dividend of ฿0.15 per shareEligible shareholders must have bought the stock before 26 August 2021. Payment date: 09 September 2021. Trailing yield: 2.5%. Lower than top quartile of Thai dividend payers (5.0%). Higher than average of industry peers (1.1%).Reported Earnings • Aug 15Second quarter 2021 earnings released: EPS ฿0.21 (vs ฿0.049 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿2.06b (up 30% from 2Q 2020). Net income: ฿202.0m (up 326% from 2Q 2020). Profit margin: 9.8% (up from 3.0% 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 7% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Jun 03Investor sentiment improved over the past weekAfter last week's 30% share price gain to ฿11.40, the stock trades at a trailing P/E ratio of 19.3x. Average trailing P/E is 30x in the Electronic industry in Thailand. Total returns to shareholders of 102% over the past three years.Reported Earnings • May 19First quarter 2021 earnings released: EPS ฿0.20 (vs ฿0.076 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿1.97b (up 26% from 1Q 2020). Net income: ฿184.2m (up 153% from 1Q 2020). Profit margin: 9.3% (up from 4.6% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 4% per year.Reported Earnings • Mar 02Full year 2020 earnings released: EPS ฿0.47 (vs ฿0.35 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿7.08b (up 4.1% from FY 2019). Net income: ฿438.8m (up 32% from FY 2019). Profit margin: 6.2% (up from 4.9% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 1% per year.Is New 90 Day High Low • Feb 24New 90-day high: ฿6.80The company is up 12% from its price of ฿6.05 on 26 November 2020. The Thai market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 79% over the same period.Is New 90 Day High Low • Feb 01New 90-day high: ฿6.20The company is up 8.0% from its price of ฿5.75 on 03 November 2020. The Thai market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 121% over the same period.Is New 90 Day High Low • Jan 08New 90-day high: ฿6.15The company is up 4.0% from its price of ฿5.90 on 09 October 2020. The Thai market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 117% over the same period.Reported Earnings • Nov 21Third quarter 2020 earnings released: EPS ฿0.15The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿1.84b (up 8.0% from 3Q 2019). Net income: ฿130.3m (up 17% from 3Q 2019). Profit margin: 7.1% (up from 6.6% in 3Q 2019). The increase in margin was driven by higher revenue. 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 8% per year, which means it is performing significantly worse than earnings.Is New 90 Day High Low • Sep 21New 90-day high: ฿6.45The company is up 11% from its price of ฿5.80 on 23 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 Electronic industry, which is up 91% over the same period. このセクションでは通常、投資家が会社の利益創出能力を理解する一助となるよう、プロのアナリストのコンセンサス予想に基づく収益と利益の成長予測を提示する。しかし、Forth Corporation は十分な過去のデータを提供しておらず、アナリストの予測もないため、過去のデータを外挿したり、アナリストの予測を使用しても、その将来の収益を確実に算出することはできません。 シンプリー・ウォール・ストリートがカバーする企業の97%は過去の財務データを持っているため、これはかなり稀な状況です。 業績と収益の成長予測SET:FORTH - アナリストの将来予測と過去の財務データ ( )THB Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/202614,9181,3117952,29513/31/202611,9179311,2781,708N/A12/31/202511,6088241,0441,470N/A9/30/202510,969607-135276N/A6/30/20259,492215-536-90N/A3/31/20259,344198-337114N/A12/31/20249,149221-165358N/A9/30/20248,9602276351,277N/A6/30/20249,0893349441,662N/A3/31/20249,3054326881,755N/A12/31/20239,8205735861,962N/A9/30/202310,419707-2411,558N/A6/30/202310,727819-5711,445N/A3/31/202310,194763-7871,129N/A12/31/20229,754775-748894N/A9/30/20229,883805-705410N/A6/30/20229,200720-398341N/A3/31/20229,013775217680N/A12/31/20218,813723405735N/A9/30/20218,201725659891N/A6/30/20217,9627059921,180N/A3/31/20217,4845501,0581,233N/A12/31/20207,0834399991,205N/A9/30/20206,6863191,0751,364N/A6/30/20206,5503008311,231N/A3/31/20206,6993237461,150N/A12/31/20196,804331N/A1,882N/A9/30/20197,534367N/A1,919N/A6/30/20197,708391N/A1,708N/A3/31/20197,777491N/A1,344N/A12/31/20188,077526N/A608N/A9/30/20187,498474N/A747N/A6/30/20187,476392N/A1,129N/A3/31/20187,582337N/A1,309N/A12/31/20177,174272N/A1,201N/A9/30/20176,847295N/A675N/A6/30/20176,355336N/A784N/A3/31/20175,750310N/A856N/A12/31/20165,416366N/A1,176N/A9/30/20165,343414N/A1,264N/A6/30/20165,319447N/A1,741N/A3/31/20165,197478N/A1,552N/A12/31/20155,129460N/A1,229N/A9/30/20155,181507N/A1,280N/A6/30/20155,037495N/A312N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: FORTHの予測収益成長が 貯蓄率 ( 2.2% ) を上回っているかどうかを判断するにはデータが不十分です。収益対市場: FORTHの収益がTH市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です高成長収益: FORTHの収益が今後 3 年間で 大幅に 増加すると予想されるかどうかを判断するにはデータが不十分です。収益対市場: FORTHの収益がTH市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です。高い収益成長: FORTHの収益が年間20%よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です。一株当たり利益成長率予想将来の株主資本利益率将来のROE: FORTHの 自己資本利益率 が 3 年後に高くなると予測されるかどうかを判断するにはデータが不十分です成長企業の発掘7D1Y7D1Y7D1YTech 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/06/13 20:15終値2026/06/12 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Forth Corporation Public Company Limited 1 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。3 アナリスト機関Napon JaisanBualuang Securities PCLnull nullDBS Bank LtdSupachai WattanavitheskulYuanta Securities (Thailand) Company Limited
Valuation Update With 7 Day Price Move • May 25Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ฿15.50, the stock trades at a trailing P/E ratio of 15.6x. Average forward P/E is 19x in the Electronic industry in Thailand. Total loss to shareholders of 47% over the past three years.
Reported Earnings • May 23First quarter 2026 earnings released: EPS: ฿0.18 (vs ฿0.065 in 1Q 2025)First quarter 2026 results: EPS: ฿0.18 (up from ฿0.065 in 1Q 2025). Revenue: ฿2.60b (up 14% from 1Q 2025). Net income: ฿167.8m (up 177% from 1Q 2025). Profit margin: 6.5% (up from 2.6% 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 4% per year but the company’s share price has fallen by 25% per year, which means it is performing significantly worse than earnings.
Buy Or Sell Opportunity • May 05Now 43% overvalued after recent price riseOver the last 90 days, the stock has risen 105% to ฿11.60. The fair value is estimated to be ฿8.09, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 23%. Revenue is forecast to grow by 12% in a year. Earnings are forecast to grow by 59% in the next year.
Valuation Update With 7 Day Price Move • Apr 29Investor sentiment improves as stock rises 25%After last week's 25% share price gain to ฿8.65, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 15x in the Electronic industry in Thailand. Total loss to shareholders of 67% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿7.64 per share.
Valuation Update With 7 Day Price Move • Mar 31Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ฿7.20, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 14x in the Electronic industry in Thailand. Total loss to shareholders of 76% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿7.75 per share.
Upcoming Dividend • Mar 06Upcoming dividend of ฿0.21 per shareEligible shareholders must have bought the stock before 13 March 2026. Payment date: 08 May 2026. Trailing yield: 2.8%. Lower than top quartile of Thai dividend payers (7.6%). Higher than average of industry peers (0.5%).
New Risk • Mar 04New major risk - Revenue and earnings growthEarnings have declined by 11% 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 Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 11% per year over the past 5 years. Minor Risk High level of debt (86% net debt to equity).
お知らせ • Mar 03+ 1 more updateForth Corporation Public Company Limited (SET:FORTH) agreed to acquire an additional 11.30% stake in Forth EMS Public Company Limited from group of shareholders for THB 45 million.Forth Corporation Public Company Limited (SET:FORTH) agreed to acquire an additional 11.30% stake in Forth EMS Public Company Limited from group of shareholders for THB 45 million on February 27, 2026. A cash consideration of THB 45 million will be paid by Forth Corporation Public Company Limited. As part of consideration, THB 45 million is paid towards common equity of Forth EMS Public Company Limited. Before completion, Forth Corporation Public Company Limited owns 87.5% stake in Forth EMS Public Company Limited. Upon completion, Forth Corporation Public Company Limited will own 98.80% stake in Forth EMS Public Company Limited. The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board. The expected completion of the transaction is April 1, 2026 to June 30, 2026.
お知らせ • Mar 02Forth Corporation Public Company Limited, Annual General Meeting, Apr 24, 2026Forth Corporation Public Company Limited, Annual General Meeting, Apr 24, 2026, at 14:00 SE Asia Standard Time. Location: forth smart service plc.s office, building 256, 7th floor, phaholyothin road, samsennai, phayathai, bangkok 10400, Thailand
New Risk • Feb 09New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 9.6% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (4.8% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (9.6% average weekly change).
Valuation Update With 7 Day Price Move • Feb 09Investor sentiment improves as stock rises 21%After last week's 21% share price gain to ฿7.10, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 14x in the Electronic industry in Thailand. Total loss to shareholders of 83% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿11.62 per share.
Reported Earnings • Nov 18Third quarter 2025 earnings released: EPS: ฿0.44 (vs ฿0.017 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.44 (up from ฿0.017 in 3Q 2024). Revenue: ฿3.80b (up 64% from 3Q 2024). Net income: ฿407.4m (up ฿391.8m from 3Q 2024). Profit margin: 11% (up from 0.7% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 40% per year whereas the company’s share price has fallen by 43% per year.
New Risk • Oct 02New 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 6.8% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Profit margins are more than 30% lower than last year (2.3% net profit margin).
Buy Or Sell Opportunity • Sep 19Now 23% undervaluedOver the last 90 days, the stock has risen 28% to ฿9.35. The fair value is estimated to be ฿12.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.6% over the last 3 years. Earnings per share has declined by 47%. Revenue is forecast to grow by 43% in a year. Earnings are forecast to grow by 428% in the next year.
Valuation Update With 7 Day Price Move • Sep 08Investor sentiment improves as stock rises 18%After last week's 18% share price gain to ฿8.10, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 14x in the Electronic industry in Thailand. Total loss to shareholders of 87% over the past three years.
Reported Earnings • Aug 16Second quarter 2025 earnings released: EPS: ฿0.13 (vs ฿0.11 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.13 (up from ฿0.11 in 2Q 2024). Revenue: ฿2.72b (up 5.8% from 2Q 2024). Net income: ฿122.1m (up 16% from 2Q 2024). Profit margin: 4.5% (up from 4.1% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 28% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 47% per year whereas the company’s share price has fallen by 48% per year.
Reported Earnings • May 16First quarter 2025 earnings released: EPS: ฿60.00 (vs ฿0.09 in 1Q 2024)First quarter 2025 results: EPS: ฿60.00. Revenue: ฿2.29b (up 9.3% from 1Q 2024). Net income: ฿60.7m (down 28% from 1Q 2024). Profit margin: 2.6% (down from 4.0% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 26% p.a. on average during the next 2 years, compared to a 9.5% growth forecast for the Electronic industry in Thailand.
Buy Or Sell Opportunity • May 09Now 22% overvalued after recent price riseOver the last 90 days, the stock has risen 18% to ฿9.65. The fair value is estimated to be ฿7.91, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 32%. Revenue is forecast to grow by 63% in 2 years. Earnings are forecast to grow by 492% in the next 2 years.
Buy Or Sell Opportunity • Apr 24Now 23% overvalued after recent price riseOver the last 90 days, the stock has risen 3.2% to ฿9.60. The fair value is estimated to be ฿7.82, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 32%. Revenue is forecast to grow by 63% in 2 years. Earnings are forecast to grow by 492% in the next 2 years.
Valuation Update With 7 Day Price Move • Apr 16Investor sentiment improves as stock rises 20%After last week's 20% share price gain to ฿7.95, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 12x in the Electronic industry in Thailand. Total loss to shareholders of 81% over the past three years.
お知らせ • Mar 04Forth Corporation Public Company Limited Proposes to Omits Dividend Payment for the Operating Period July 1, 2024 to December 31, 2024Forth Corporation Public Company Limited proposed to omit dividend payment for the operating period July 1, 2024 to December 31, 2024.
Reported Earnings • Mar 04Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: EPS: ฿0.24. Revenue: ฿9.15t (up ฿9.14t from FY 2023). Net income: ฿221.3b (up ฿220.7b from FY 2023). Profit margin: 2.4% (down from 5.8% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 10%. Earnings per share (EPS) also missed analyst estimates by 66%. Revenue is expected to decline by 149% p.a. on average during the next 2 years, while revenues in the Electronic industry in Thailand are expected to grow by 11%.
お知らせ • Mar 03+ 1 more updateForth Corporation Public Company Limited, Annual General Meeting, Apr 25, 2025Forth Corporation Public Company Limited, Annual General Meeting, Apr 25, 2025, at 14:00 SE Asia Standard Time. Location: forth smart service office building, 256, 7th floor, phaholyothin road, samsennai, phayathai, bangkok 10400, Thailand
Valuation Update With 7 Day Price Move • Sep 05Investor sentiment improves as stock rises 30%After last week's 30% share price gain to ฿13.60, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Electronic industry in Thailand. Total loss to shareholders of 3.1% over the past three years.
Valuation Update With 7 Day Price Move • Aug 22Investor sentiment improves as stock rises 22%After last week's 22% share price gain to ฿11.50, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 15x in the Electronic industry in Thailand. Total loss to shareholders of 22% over the past three years.
Buy Or Sell Opportunity • Aug 19Now 23% overvaluedOver the last 90 days, the stock has fallen 42% to ฿10.50. The fair value is estimated to be ฿8.54, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.6% over the last 3 years. Earnings per share has declined by 14%. Revenue is forecast to grow by 49% in 2 years. Earnings are forecast to grow by 240% in the next 2 years.
Declared Dividend • Aug 17First half dividend reduced to ฿0.15Dividend of ฿0.15 is 40% lower than last year. Ex-date: 28th August 2024 Payment date: 11th September 2024 Dividend yield will be 3.7%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is not covered by earnings (133% earnings payout ratio). However, it is well covered by cash flows (47% cash payout ratio). The dividend has increased by an average of 7.0% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 48% to bring the payout ratio under control. EPS is expected to grow by 211% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.
Reported Earnings • Aug 16Second quarter 2024 earnings released: EPS: ฿0.11 (vs ฿0.22 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.11 (down from ฿0.22 in 2Q 2023). Revenue: ฿2.57b (down 7.8% from 2Q 2023). Net income: ฿105.0m (down 48% from 2Q 2023). Profit margin: 4.1% (down from 7.3% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 14% per year and the company’s share price has also fallen by 14% per year.
お知らせ • Aug 16Forth Corporation Public Company Limited Announces Interim Dividend from January 01, 2024 to June 30, 2024, Payable on September 11, 2024Forth Corporation Public Company Limited announced Interim dividend of THB 0.15 for the period from January 01, 2024 to June 30, 2024. Payment date is September 11, 2024. Record date for the right to receive dividends August 29, 2024. Ex-dividend date is August 28, 2024.
Buy Or Sell Opportunity • Jul 31Now 39% overvaluedOver the last 90 days, the stock has fallen 39% to ฿10.40. The fair value is estimated to be ฿7.51, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.9% over the last 3 years. Earnings per share has declined by 3.7%. Revenue is forecast to grow by 39% in 2 years. Earnings are forecast to grow by 142% in the next 2 years.
Valuation Update With 7 Day Price Move • Jul 30Investor sentiment deteriorates as stock falls 20%After last week's 20% share price decline to ฿8.85, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Electronic industry in Thailand. Total loss to shareholders of 13% over the past three years.
Valuation Update With 7 Day Price Move • Jun 20Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ฿13.10, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 16x in the Electronic industry in Thailand. Total returns to shareholders of 17% over the past three years.
Reported Earnings • May 16First quarter 2024 earnings released: EPS: ฿0.09 (vs ฿0.24 in 1Q 2023)First quarter 2024 results: EPS: ฿0.09 (down from ฿0.24 in 1Q 2023). Revenue: ฿2.10b (down 20% from 1Q 2023). Net income: ฿84.2m (down 63% from 1Q 2023). Profit margin: 4.0% (down from 8.6% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings.
お知らせ • Apr 30Forth Corporation Public Company Limited Approves Dividend Payment for 2023, Payable on 10 May 2024Forth Corporation Public Company Limited at its Annual General Meeting of Shareholders held on 26 April 2024, approved a dividend payment for 2023 at the rate of THB 0.47 per share, a total of THB 439.6 million. The dividend will be paid from the net profit for the year 2023 derived from 20% corporate income tax-paid business, which individual shareholders are subject to 10% withholding tax and shall be entitled to a tax credit. In this regard, the Company has paid an interim dividend for the first six-month period of 2023 at the rate of THB 0.25 per share, totaling THB 233.8 million, the balance of dividend payment in this period will be paid at the rate of THB 0.22 per share, amounting to THB 205.8 million. The dividend will be paid from the net profit for the year 2023 derived from 20% corporate income tax-paid business, which individual shareholders are subject to 10% withholding tax and shall be entitled to a tax credit. The record date to determine shareholders' name for the right to receive the dividend is scheduled on 14 March 2024. The dividend will be paid on 10 May 2024.
Valuation Update With 7 Day Price Move • Apr 11Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ฿17.60, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 16x in the Electronic industry in Thailand. Total returns to shareholders of 166% over the past three years.
お知らせ • Apr 03Forth Corporation Public Company Limited Announces Resignation of Chakrit Opasudom as Deputy Chief Executive OfficerForth Corporation Public Company Limited announced the resignation of Mr. Chakrit Opasudom, Deputy Chief Executive Officer (Acting), effective from 1 April 2024.
Upcoming Dividend • Mar 06Upcoming dividend of ฿0.22 per shareEligible shareholders must have bought the stock before 13 March 2024. Payment date: 10 May 2024. Payout ratio is on the higher end at 77%, and the cash payout ratio is above 100%. Trailing yield: 3.0%. Lower than top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (1.2%).
お知らせ • Mar 01Forth Corporation Public Company Limited Proposes Dividend Payment for 2023, Payable on 10 May 2024Forth Corporation Public Company Limited at its board meeting held on 27 February 2024 Resolved to propose the Annual General Meeting of Shareholders to approve a dividend payment for 2023 at the rate of THB 0.47 per share, a total of THB 439.6 million. The dividend will be paid from the net profit for the year 2023 derived from 20% corporate income tax-paid business, which individual shareholders are subject to 10% withholding tax and shall be entitled to a tax credit. In this regard, the Company has paid an interim dividend for the first six-month period of 2023 at the rate of THB 0.25 per share, totaling THB 233.8 million, the balance of dividend payment in this period will be paid at the rate of THB 0.22 per share, amounting to THB 205.8 million. The dividend will be paid from the net profit for the year 2023 derived from 20% corporate income tax-paid business, which individual shareholders are subject to 10% withholding tax and shall be entitled to a tax credit. The record date to determine shareholders' name for the right to receive the dividend is scheduled on 14 March 2024. The dividend will be paid on 10 May 2024. The grant of this right is subjected to the approval by the shareholders' meeting. Ex-dividend date is 13 March 2024.
Declared Dividend • Mar 01Final dividend of ฿0.22 announcedShareholders will receive a dividend of ฿0.22. Ex-date: 13th March 2024 Payment date: 10th May 2024 Dividend yield will be 2.9%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by earnings (82% earnings payout ratio) but not covered by cash flows (101% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 114% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Feb 29Full year 2023 earnings released: EPS: ฿0.61 (vs ฿0.83 in FY 2022)Full year 2023 results: EPS: ฿0.61 (down from ฿0.83 in FY 2022). Revenue: ฿9.82b (flat on FY 2022). Net income: ฿572.6m (down 26% from FY 2022). Profit margin: 5.8% (down from 7.9% in FY 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth.
Buy Or Sell Opportunity • Jan 23Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 22% to ฿18.60. The fair value is estimated to be ฿23.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 18%. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 44% in the next 2 years.
お知らせ • Dec 18Forth Corporation Public Company Limited Announces Executive ChangesThe Board of Directors' Meeting of Forth Corporation Public Company Limited No. 8/2023 on 15 December 2023 passed the following resolutions: Acknowledged the change in organizational structure and change in executive position names effective 15 December 2023. Mr. Chatchavin Pipatchotitham's designation changed from Assistant to Chief Executive Officer to Deputy Chief Executive Officer. Mr. Pattanan Amatanon's designation changed from Assistant Vice President of Project Development to Chief Business Development Officer (CBDO). Ms. Pichamon Amatanon's designation changed from Assistant Vice President of Central Office Administration to Chief Operation Officer (COO). The company also acknowledged the resignation of Mr. Chatchavin. Pipatchotitham from the position of Deputy Chief Executive Officer and member of the Risk Management Committee, effective 1 January 2024.
Buying Opportunity • Dec 12Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 41%. The fair value is estimated to be ฿24.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 18%. Revenue is forecast to grow by 28% in 2 years. Earnings is forecast to grow by 44% in the next 2 years.
Reported Earnings • Nov 17Third quarter 2023 earnings released: EPS: ฿0.13 (vs ฿0.25 in 3Q 2022)Third quarter 2023 results: EPS: ฿0.13 (down from ฿0.25 in 3Q 2022). Revenue: ฿2.45b (down 11% from 3Q 2022). Net income: ฿122.2m (down 48% from 3Q 2022). Profit margin: 5.0% (down from 8.5% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth.
Buying Opportunity • Oct 12Now 22% undervaluedOver the last 90 days, the stock is up 2.8%. The fair value is estimated to be ฿35.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 26%. Revenue is forecast to grow by 26% in 2 years. Earnings is forecast to grow by 43% in the next 2 years.
Upcoming Dividend • Aug 22Upcoming dividend of ฿0.25 per share at 2.0% yieldEligible shareholders must have bought the stock before 29 August 2023. Payment date: 08 September 2023. Payout ratio is a comfortable 71% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (0.8%).
Reported Earnings • Aug 17Second quarter 2023 earnings released: EPS: ฿0.22 (vs ฿0.16 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.22 (up from ฿0.16 in 2Q 2022). Revenue: ฿2.78b (up 24% from 2Q 2022). Net income: ฿203.6m (up 38% from 2Q 2022). Profit margin: 7.3% (up from 6.5% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 72% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Aug 03Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ฿31.25, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 16x in the Electronic industry in Thailand. Total returns to shareholders of 463% over the past three years.
Reported Earnings • May 18First quarter 2023 earnings released: EPS: ฿0.24 (vs ฿0.25 in 1Q 2022)First quarter 2023 results: EPS: ฿0.24 (down from ฿0.25 in 1Q 2022). Revenue: ฿2.61b (up 20% from 1Q 2022). Net income: ฿224.5m (down 5.1% from 1Q 2022). Profit margin: 8.6% (down from 11% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 76% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Mar 16Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ฿32.50, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 17x in the Electronic industry in Thailand. Total returns to shareholders of 581% over the past three years.
Upcoming Dividend • Mar 07Upcoming dividend of ฿0.37 per share at 1.4% yieldEligible shareholders must have bought the stock before 14 March 2023. Payment date: 08 May 2023. Payout ratio is a comfortable 52% but the company is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Thai dividend payers (5.7%). Higher than average of industry peers (0.9%).
Valuation Update With 7 Day Price Move • Feb 28Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ฿36.50, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 19x in the Electronic industry in Thailand. Total returns to shareholders of 517% over the past three years.
Valuation Update With 7 Day Price Move • Jan 26Investor sentiment improves as stock rises 23%After last week's 23% share price gain to ฿43.25, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 21x in the Electronic industry in Thailand. Total returns to shareholders of 690% over the past three years.
Reported Earnings • Nov 17Third quarter 2022 earnings released: EPS: ฿0.25 (vs ฿0.16 in 3Q 2021)Third quarter 2022 results: EPS: ฿0.25 (up from ฿0.16 in 3Q 2021). Revenue: ฿2.76b (up 33% from 3Q 2021). Net income: ฿234.9m (up 56% from 3Q 2021). Profit margin: 8.5% (up from 7.3% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has increased by 96% per year, which means it is tracking significantly ahead of earnings growth.
Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Vilasinee Puddhikarant was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Valuation Update With 7 Day Price Move • Nov 07Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to ฿45.00, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 19x in the Electronic industry in Thailand. Total returns to shareholders of 802% over the past three years.
Valuation Update With 7 Day Price Move • Aug 24Investor sentiment improved over the past weekAfter last week's 18% share price gain to ฿55.25, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 21x in the Electronic industry in Thailand. Total returns to shareholders of 976% over the past three years.
Upcoming Dividend • Aug 19Upcoming dividend of ฿0.15 per shareEligible shareholders must have bought the stock before 26 August 2022. Payment date: 09 September 2022. Payout ratio is a comfortable 58% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of Thai dividend payers (5.4%). Lower than average of industry peers (1.1%).
Reported Earnings • Aug 18Second quarter 2022 earnings released: EPS: ฿0.16 (vs ฿0.22 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.16 (down from ฿0.22 in 2Q 2021). Revenue: ฿2.25b (up 9.1% from 2Q 2021). Net income: ฿147.1m (down 27% from 2Q 2021). Profit margin: 6.5% (down from 9.8% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 46%, compared to a 80% growth forecast for the Electronic industry in Thailand. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 100% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • May 24Investor sentiment improved over the past weekAfter last week's 15% share price gain to ฿50.50, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 18x in the Electronic industry in Thailand. Total returns to shareholders of 913% over the past three years.
Reported Earnings • May 19First quarter 2022 earnings: Revenues miss analyst expectationsFirst quarter 2022 results: Revenue: ฿2.17b (up 10% from 1Q 2021). Net income: ฿236.6m (up 28% from 1Q 2021). Profit margin: 11% (up from 9.3% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.9%. Over the next year, revenue is forecast to grow 40%, compared to a 113% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 96% per year, which means it is tracking significantly ahead of earnings growth.
Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Vilasinee Puddhikarant was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Valuation Update With 7 Day Price Move • Apr 12Investor sentiment improved over the past weekAfter last week's 17% share price gain to ฿37.75, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 19x in the Electronic industry in Thailand. Total returns to shareholders of 626% over the past three years.
Valuation Update With 7 Day Price Move • Mar 21Investor sentiment improved over the past weekAfter last week's 16% share price gain to ฿31.00, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 20x in the Electronic industry in Thailand. Total returns to shareholders of 477% over the past three years.
Upcoming Dividend • Mar 04Upcoming dividend of ฿0.30 per shareEligible shareholders must have bought the stock before 11 March 2022. Payment date: 05 May 2022. Payout ratio is a comfortable 58% and the cash payout ratio is 81%. Trailing yield: 1.5%. Lower than top quartile of Thai dividend payers (5.2%). In line with average of industry peers (1.4%).
Reported Earnings • Mar 02Full year 2021 earnings: EPS in line with expectations, revenues disappointFull year 2021 results: EPS: ฿0.77 (up from ฿0.47 in FY 2020). Revenue: ฿8.81b (up 24% from FY 2020). Net income: ฿722.8m (up 65% from FY 2020). Profit margin: 8.2% (up from 6.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 35%, compared to a 20% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Feb 23Investor sentiment improved over the past weekAfter last week's 19% share price gain to ฿23.60, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 18x in the Electronic industry in Thailand. Total returns to shareholders of 324% over the past three years.
Reported Earnings • Nov 17Third quarter 2021 earnings released: EPS ฿0.16 (vs ฿0.14 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿2.08b (up 13% from 3Q 2020). Net income: ฿150.6m (up 16% from 3Q 2020). Profit margin: 7.3% (up from 7.1% 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 14% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Sep 15Investor sentiment improved over the past weekAfter last week's 23% share price gain to ฿18.50, the stock trades at a trailing P/E ratio of 24.5x. Average trailing P/E is 30x in the Electronic industry in Thailand. Total returns to shareholders of 227% over the past three years.
Valuation Update With 7 Day Price Move • Aug 20Investor sentiment improved over the past weekAfter last week's 20% share price gain to ฿15.10, the stock trades at a trailing P/E ratio of 19.9x. Average trailing P/E is 30x in the Electronic industry in Thailand. Total returns to shareholders of 162% over the past three years.
Upcoming Dividend • Aug 19Upcoming dividend of ฿0.15 per shareEligible shareholders must have bought the stock before 26 August 2021. Payment date: 09 September 2021. Trailing yield: 2.5%. Lower than top quartile of Thai dividend payers (5.0%). Higher than average of industry peers (1.1%).
Reported Earnings • Aug 15Second quarter 2021 earnings released: EPS ฿0.21 (vs ฿0.049 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿2.06b (up 30% from 2Q 2020). Net income: ฿202.0m (up 326% from 2Q 2020). Profit margin: 9.8% (up from 3.0% 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 7% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Jun 03Investor sentiment improved over the past weekAfter last week's 30% share price gain to ฿11.40, the stock trades at a trailing P/E ratio of 19.3x. Average trailing P/E is 30x in the Electronic industry in Thailand. Total returns to shareholders of 102% over the past three years.
Reported Earnings • May 19First quarter 2021 earnings released: EPS ฿0.20 (vs ฿0.076 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿1.97b (up 26% from 1Q 2020). Net income: ฿184.2m (up 153% from 1Q 2020). Profit margin: 9.3% (up from 4.6% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 4% per year.
Reported Earnings • Mar 02Full year 2020 earnings released: EPS ฿0.47 (vs ฿0.35 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿7.08b (up 4.1% from FY 2019). Net income: ฿438.8m (up 32% from FY 2019). Profit margin: 6.2% (up from 4.9% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 1% per year.
Is New 90 Day High Low • Feb 24New 90-day high: ฿6.80The company is up 12% from its price of ฿6.05 on 26 November 2020. The Thai market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 79% over the same period.
Is New 90 Day High Low • Feb 01New 90-day high: ฿6.20The company is up 8.0% from its price of ฿5.75 on 03 November 2020. The Thai market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 121% over the same period.
Is New 90 Day High Low • Jan 08New 90-day high: ฿6.15The company is up 4.0% from its price of ฿5.90 on 09 October 2020. The Thai market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 117% over the same period.
Reported Earnings • Nov 21Third quarter 2020 earnings released: EPS ฿0.15The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿1.84b (up 8.0% from 3Q 2019). Net income: ฿130.3m (up 17% from 3Q 2019). Profit margin: 7.1% (up from 6.6% in 3Q 2019). The increase in margin was driven by higher revenue. 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 8% per year, which means it is performing significantly worse than earnings.
Is New 90 Day High Low • Sep 21New 90-day high: ฿6.45The company is up 11% from its price of ฿5.80 on 23 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 Electronic industry, which is up 91% over the same period.