View Future GrowthTPI Polene Power 過去の業績過去 基準チェック /16TPI Polene Powerの収益は年間平均-11.2%の割合で減少していますが、 Renewable Energy業界の収益は年間 減少しています。収益は年間11.9% 3.2%割合で 減少しています。 TPI Polene Powerの自己資本利益率は4.1%であり、純利益率は17.8%です。主要情報-11.21%収益成長率-11.20%EPS成長率Renewable Energy 業界の成長6.65%収益成長率-3.19%株主資本利益率4.13%ネット・マージン17.82%前回の決算情報31 Mar 2026最近の業績更新Reported Earnings • Feb 24Full year 2025 earnings released: EPS: ฿0.27 (vs ฿0.39 in FY 2024)Full year 2025 results: EPS: ฿0.27 (down from ฿0.39 in FY 2024). Revenue: ฿9.07b (down 16% from FY 2024). Net income: ฿2.27b (down 31% from FY 2024). Profit margin: 25% (down from 31% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings.Reported Earnings • Nov 07Third quarter 2025 earnings released: EPS: ฿0.059 (vs ฿0.099 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.059 (down from ฿0.099 in 3Q 2024). Revenue: ฿2.09b (down 23% from 3Q 2024). Net income: ฿491.7m (down 41% from 3Q 2024). Profit margin: 24% (down from 31% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.Reported Earnings • Aug 09Second quarter 2025 earnings released: EPS: ฿0.056 (vs ฿0.10 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.056 (down from ฿0.10 in 2Q 2024). Revenue: ฿2.13b (down 21% from 2Q 2024). Net income: ฿474.3m (down 45% from 2Q 2024). Profit margin: 22% (down from 32% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 4.0% p.a. on average during the next 2 years, while revenues in the Renewable Energy industry in Thailand are expected to grow by 2.2%. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.Reported Earnings • May 09First quarter 2025 earnings released: EPS: ฿0.12 (vs ฿0.083 in 1Q 2024)First quarter 2025 results: EPS: ฿0.12 (up from ฿0.083 in 1Q 2024). Revenue: ฿2.72b (up 6.4% from 1Q 2024). Net income: ฿966.9m (up 38% from 1Q 2024). Profit margin: 36% (up from 27% in 1Q 2024). The increase in margin was primarily driven by higher revenue. Revenue is forecast to decline by 5.7% p.a. on average during the next 2 years, while revenues in the Renewable Energy industry in Thailand are expected to remain flat. 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 15% per year, which means it is performing significantly worse than earnings.Reported Earnings • Feb 14Full year 2024 earnings released: EPS: ฿0.39 (vs ฿0.43 in FY 2023)Full year 2024 results: EPS: ฿0.39 (down from ฿0.43 in FY 2023). Revenue: ฿10.7b (down 2.2% from FY 2023). Net income: ฿3.30b (down 9.6% from FY 2023). Profit margin: 31% (down from 33% in FY 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 11% per year.Reported Earnings • Nov 12Third quarter 2024 earnings released: EPS: ฿0.099 (vs ฿0.10 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.099 (down from ฿0.10 in 3Q 2023). Revenue: ฿2.69b (up 10% from 3Q 2023). Net income: ฿833.3m (flat on 3Q 2023). Profit margin: 31% (down from 34% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 2 years compared to a 2.6% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 10% per year.すべての更新を表示Recent updatesNew Risk • May 11New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 18% Last year net profit margin: 33% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (10% operating cash flow to total debt). Earnings have declined by 11% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (18% net profit margin).Declared Dividend • Mar 02Dividend of ฿0.07 announcedShareholders will receive a dividend of ฿0.07. Ex-date: 11th March 2026 Payment date: 8th May 2026 Dividend yield will be 3.6%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (21% earnings payout ratio) but not covered by cash flows (459% cash payout ratio). The dividend has decreased over the past 96 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 77% to shift the payout ratio to a potentially unsustainable range, which is more than the 13% EPS decline seen over the last 5 years.お知らせ • Feb 27+ 1 more updateTPI Polene Power Public Company Limited announces Annual dividend, payable on May 08, 2026TPI Polene Power Public Company Limited announced Annual dividend of THB 0.0700 per share payable on May 08, 2026, ex-date on March 11, 2026 and record date on March 12, 2026.Reported Earnings • Feb 24Full year 2025 earnings released: EPS: ฿0.27 (vs ฿0.39 in FY 2024)Full year 2025 results: EPS: ฿0.27 (down from ฿0.39 in FY 2024). Revenue: ฿9.07b (down 16% from FY 2024). Net income: ฿2.27b (down 31% from FY 2024). Profit margin: 25% (down from 31% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings.Valuation Update With 7 Day Price Move • Nov 24Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ฿1.71, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 13x in the Renewable Energy industry in Thailand. Total loss to shareholders of 39% over the past three years.Reported Earnings • Nov 07Third quarter 2025 earnings released: EPS: ฿0.059 (vs ฿0.099 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.059 (down from ฿0.099 in 3Q 2024). Revenue: ฿2.09b (down 23% from 3Q 2024). Net income: ฿491.7m (down 41% from 3Q 2024). Profit margin: 24% (down from 31% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.Reported Earnings • Aug 09Second quarter 2025 earnings released: EPS: ฿0.056 (vs ฿0.10 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.056 (down from ฿0.10 in 2Q 2024). Revenue: ฿2.13b (down 21% from 2Q 2024). Net income: ฿474.3m (down 45% from 2Q 2024). Profit margin: 22% (down from 32% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 4.0% p.a. on average during the next 2 years, while revenues in the Renewable Energy industry in Thailand are expected to grow by 2.2%. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.Buy Or Sell Opportunity • Jul 21Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 7.5% to ฿2.28. The fair value is estimated to be ฿1.89, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to decline by 1.1% in a year. Earnings are forecast to decline by 31% in the next year.Reported Earnings • May 09First quarter 2025 earnings released: EPS: ฿0.12 (vs ฿0.083 in 1Q 2024)First quarter 2025 results: EPS: ฿0.12 (up from ฿0.083 in 1Q 2024). Revenue: ฿2.72b (up 6.4% from 1Q 2024). Net income: ฿966.9m (up 38% from 1Q 2024). Profit margin: 36% (up from 27% in 1Q 2024). The increase in margin was primarily driven by higher revenue. Revenue is forecast to decline by 5.7% p.a. on average during the next 2 years, while revenues in the Renewable Energy industry in Thailand are expected to remain flat. 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 15% per year, which means it is performing significantly worse than earnings.お知らせ • Apr 18TPI Polene Power Public Company Limited Approves Dividend for the Year 2024, Payable on May 9, 2025TPI Polene Power Public Company Limited at the AGM held on April 18, 2025 approved the Company to appropriate a legal reserve and dividend payment for the year 2024. The Company has fully allocated the legal reserve in accordance with the Company's Articles of Association. Therefore, the Company is not required to allocate any portion of the net profit as a legal reserve, and it was resolved to approve dividend payment for the year 2024 from the Company's 2024 operating performance at THB 0.16 per share, totaling THB 1,344,000,000 or representing 40.70% of the net profit for the year 2024. Previously, the Company already paid the interim dividend from the Company's retained earnings up to six-month period ended June 30, 2024, at THB 0.09 per share, totaling THB 756,000,000, on September 20, 2024. Therefore, the remaining dividend to be paid is THB 0.07 per share, totaling THB 588,000,000, which is scheduled to be paid on May 9, 2025. The above dividend payment is payable from the retained earnings which is exempted to be paid corporate income tax according to the Board of Investment Promotional Privileges. Shareholders shall receive dividend without withholding tax deduction. Individual shareholders; therefore, cannot claim tax credit.お知らせ • Mar 07TPI Polene Power Public Company Limited Announces Change of Chief AccountantTPI Polene Power Public Company Limited announced the Changing of Chief Accountant. The company announced the termination of KARUNA PERMSIRIPHAN as Accounting Department Manager, effective from February 28, 2025 and appointment of Jatanathunmjit as Manager of Accounting Department, Effective Date of Appointment is 01 March 2025.Valuation Update With 7 Day Price Move • Mar 04Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to ฿2.34, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Renewable Energy industry in Thailand. Total loss to shareholders of 29% over the past three years.Declared Dividend • Mar 01Final dividend reduced to ฿0.07Dividend of ฿0.07 is 42% lower than last year. Ex-date: 12th March 2025 Payment date: 9th May 2025 Dividend yield will be 5.9%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (55% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 48% over the next 2 years. Since a fall of 39% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.お知らせ • Feb 28TPI Polene Power Public Company Limited, Annual General Meeting, Apr 18, 2025TPI Polene Power Public Company Limited, Annual General Meeting, Apr 18, 2025, at 15:00 SE Asia Standard Time. Location: at the conference room, 9th floor of tpi tower, no, 26/56 chan tat mai road, thungmahamek sub-district, sathorn district, bangkok Thailandお知らせ • Feb 27TPI Polene Power Public Company Limited Proposes Cash Dividend for the Year Ended December 31, 2024, Payable on May 9, 2025TPI Polene Power Public Company Limited at its AGM to be held on April 18, 2025 proposed cash dividend payment of THB 0.07 per share for the year ended December 31, 2024, payable on May 9, 2025. Paid from Retained Earnings. Record date for the right to receive dividends is March 13, 2025. Ex-dividend date is March 12, 2025.Reported Earnings • Feb 14Full year 2024 earnings released: EPS: ฿0.39 (vs ฿0.43 in FY 2023)Full year 2024 results: EPS: ฿0.39 (down from ฿0.43 in FY 2023). Revenue: ฿10.7b (down 2.2% from FY 2023). Net income: ฿3.30b (down 9.6% from FY 2023). Profit margin: 31% (down from 33% in FY 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 11% per year.Reported Earnings • Nov 12Third quarter 2024 earnings released: EPS: ฿0.099 (vs ฿0.10 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.099 (down from ฿0.10 in 3Q 2023). Revenue: ฿2.69b (up 10% from 3Q 2023). Net income: ฿833.3m (flat on 3Q 2023). Profit margin: 31% (down from 34% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 2 years compared to a 2.6% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 10% per year.Declared Dividend • Aug 31First half dividend reduced to ฿0.09Dividend of ฿0.09 is 25% lower than last year. Ex-date: 11th September 2024 Payment date: 20th September 2024 Dividend yield will be 7.0%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (31% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 14% over the next year. However, it would need to fall by 65% to increase the payout ratio to a potentially unsustainable range.お知らせ • Aug 29TPI Polene Power Public Company Limited Announces Interim Cash Dividend for the Six-Month Period Ended June 30, 2024, Payable on 20 September 2024TPI Polene Power Public Company Limited announced the interim cash dividend of THB 0.09 per share payment from unappropriated retained earnings for operating performance up to the six-month period ended June 30, 2024. Record date for the right to receive dividends on 12 September 2024 with Ex-dividend date on 11 September 2024. Payment date on 20 September 2024.Price Target Changed • Aug 08Price target decreased by 20% to ฿3.20Down from ฿4.00, the current price target is provided by 1 analyst. New target price is 18% above last closing price of ฿2.72. Stock is down 20% over the past year. The company is forecast to post earnings per share of ฿0.43 for next year compared to ฿0.43 last year.Reported Earnings • Aug 07Second quarter 2024 earnings released: EPS: ฿0.10 (vs ฿0.11 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.10 (down from ฿0.11 in 2Q 2023). Revenue: ฿2.70b (down 8.0% from 2Q 2023). Net income: ฿857.7m (down 8.3% from 2Q 2023). Profit margin: 32% (in line with 2Q 2023). Revenue is forecast to grow 2.1% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 15% per year.Buy Or Sell Opportunity • Aug 06Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 19% to ฿2.70. The fair value is estimated to be ฿3.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 13%. Revenue is forecast to grow by 12% in a year. Earnings are forecast to grow by 2.3% in the next year.お知らせ • Jul 27TPI Polene Power Public Company Limited Approves Board AppointmentsTPI Polene Power Public Company Limited at its Extraordinary Meeting of Shareholders no.1/2567 held on July 26, 2024, approved to consider the appointment of new meeting, which the meeting approved Mr. Paisan katchasuwanmanee to be in the positions of Independent Director and Audit committee and Mr. Thanakorn Liewphairatana to be in the position of Director of the company.Reported Earnings • May 10First quarter 2024 earnings released: EPS: ฿0.083 (vs ฿0.13 in 1Q 2023)First quarter 2024 results: EPS: ฿0.083 (down from ฿0.13 in 1Q 2023). Revenue: ฿2.56b (down 13% from 1Q 2023). Net income: ฿699.4m (down 33% from 1Q 2023). Profit margin: 27% (down from 36% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.7% p.a. on average during the next 2 years, compared to a 4.7% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 9% per year.お知らせ • Apr 19TPI Polene Power Public Company Limited Approves Dividend Payment for the Year Ended December 31, 2023, Payable on May 9, 2024TPI Polene Power Public Company Limited at its AGM held on April 18, 2024, approved dividend payment for the year 2023 from the company's 2023 operating performance at THB 0.24 per share totaling THB 2,016,000,000 or representing 55.19% of the net profit for the year 2023. Previously the company already paid the interim dividend from the company's retained earnings up to six month period ended June 30, 2023 at THB 0.12 per share totaling THB 1,008,000,000 on September 25, 2023. Therefore there is a remaining dividend to be paid to shareholders at THB 0.12 per share totaling THB 1,008,000,000. The determination of list of shareholders for the right to receive dividend payment is scheduled on March 14, 2024 (record date) and the interim dividend payment is scheduled on May 9, 2024.お知らせ • Mar 19TPI Polene Power Public Company Limited, Annual General Meeting, Apr 18, 2024TPI Polene Power Public Company Limited, Annual General Meeting, Apr 18, 2024, at 15:00 SE Asia Standard Time. Location: Conference Room, 9th Floor of TPI Tower No. 26/56 Chan Tat Mai road, Thungmahamek sub-district, Sathorn district Bangkok Thailand Agenda: To consider and confirm minutes of the 2023 Annual Meeting of Shareholders; to acknowledge the 2023 operating result of the company; to consider the audit committee report on their audit on the 2023 operating result; to consider and approve Balance Sheets and Profit and Loss Statements of 2023 for the period ended December 31, 2023; to consider and approve an appropriation of the legal reserve and the payment of dividend for 2023; and to consider other matters.Upcoming Dividend • Mar 06Upcoming dividend of ฿0.12 per shareEligible shareholders must have bought the stock before 13 March 2024. Payment date: 09 May 2024. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 7.1%. Within top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (2.7%).Declared Dividend • Mar 02Dividend increased to ฿0.12Dividend of ฿0.12 is 300% higher than last year. Ex-date: 13th March 2024 Payment date: 9th May 2024 Dividend yield will be 7.0%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (37% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 27% over the next 2 years. However, it would need to fall by 59% to increase the payout ratio to a potentially unsustainable range.お知らせ • Mar 01TPI Polene Power Public Company Limited Announces Interim Cash Dividend, Payable on May 09, 2024TPI Polene Power Public Company Limited proposed dividend payment from the company's operating results for the year 2023 at THB 0.24 per share. Previously, the company already paid interim dividend from the company's retained earnings up to six month period ended June 30, 2023 at THB 0.12 per share. Therefore, remaining dividend is to be paid at THB 0.12 per share. Record date for the right to receive dividends on 14 March 2024 with Ex-dividend date on 13 March 2024, Payment date on May 09, 2024.Reported Earnings • Feb 20Full year 2023 earnings released: EPS: ฿0.43 (vs ฿0.34 in FY 2022)Full year 2023 results: EPS: ฿0.43 (up from ฿0.34 in FY 2022). Revenue: ฿11.0b (up 7.7% from FY 2022). Net income: ฿3.65b (up 30% from FY 2022). Profit margin: 33% (up from 28% in FY 2022). Revenue is forecast to stay flat during the next 2 years compared to a 2.0% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.Reported Earnings • Nov 14Third quarter 2023 earnings released: EPS: ฿0.10 (vs ฿0.064 in 3Q 2022)Third quarter 2023 results: EPS: ฿0.10 (up from ฿0.064 in 3Q 2022). Revenue: ฿2.44b (up 5.0% from 3Q 2022). Net income: ฿838.7m (up 56% from 3Q 2022). Profit margin: 34% (up from 23% in 3Q 2022). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Sep 06Upcoming dividend of ฿0.12 per share at 6.9% yieldEligible shareholders must have bought the stock before 13 September 2023. Payment date: 25 September 2023. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 6.9%. Within top quartile of Thai dividend payers (6.2%). Higher than average of industry peers (1.8%).お知らせ • Sep 01TPI Polene Power Public Company Limited Announces Interim Cash Dividend for the Six-Month Period Ended June 30, 2023, Payable on 25 September 2023TPI Polene Power Public Company Limited announced the interim cash dividend of THB 0.12 per share payment from unappropriated retained earnings for operating performance up to the six-month period ended June 30, 2023. Record date for the right to receive dividends on 14 September 2023 with Ex-dividend date on 13 September 2023 Payment date on 25 September 2023.Reported Earnings • Aug 08Second quarter 2023 earnings released: EPS: ฿0.11 (vs ฿0.10 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.11 (up from ฿0.10 in 2Q 2022). Revenue: ฿2.93b (up 15% from 2Q 2022). Net income: ฿935.0m (up 9.3% from 2Q 2022). Profit margin: 32% (down from 34% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.2% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.Price Target Changed • Mar 08Price target increased by 18% to ฿4.00Up from ฿3.40, the current price target is provided by 1 analyst. New target price is 18% above last closing price of ฿3.38. Stock is down 13% over the past year. The company posted earnings per share of ฿0.33 last year.Upcoming Dividend • Mar 01Upcoming dividend of ฿0.03 per share at 7.4% yieldEligible shareholders must have bought the stock before 08 March 2023. Payment date: 11 May 2023. Payout ratio is on the higher end at 88%, and the cash payout ratio is above 100%. Trailing yield: 7.4%. Within top quartile of Thai dividend payers (5.6%). Higher than average of industry peers (1.7%).Upcoming Dividend • Feb 01Upcoming dividend of ฿0.09 per share at 7.1% yieldEligible shareholders must have bought the stock before 08 February 2023. Payment date: 23 February 2023. Payout ratio is a comfortable 65% but the company is paying out more than the cash it is generating. Trailing yield: 7.1%. Within top quartile of Thai dividend payers (5.5%). Higher than average of industry peers (1.7%).お知らせ • Jan 27TPI Polene Power Public Company Limited Announces Interim Cash Dividend for Operating Performance Up to the Nine-Month Period Ended September 30, 2022, Payable on 23 February 2023TPI Polene Power Public Company Limited announced interim cash dividend of THB 0.09 per share from unappropriated retained earnings for operating performance up to the nine-month period ended September 30, 2022. Record date for the right to receive dividends 09 February 2023. Ex-dividend date 08 February 2023. Payment date 23 February 2023.Price Target Changed • Nov 16Price target decreased to ฿3.60Down from ฿4.00, the current price target is provided by 1 analyst. New target price is 10% above last closing price of ฿3.26. Stock is down 22% over the past year. The company posted earnings per share of ฿0.50 last year.Reported Earnings • Nov 11Third quarter 2022 earnings released: EPS: ฿0.064 (vs ฿0.11 in 3Q 2021)Third quarter 2022 results: EPS: ฿0.064 (down from ฿0.11 in 3Q 2021). Revenue: ฿2.32b (down 19% from 3Q 2021). Net income: ฿538.5m (down 43% from 3Q 2021). Profit margin: 23% (down from 33% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 12% per year.Upcoming Dividend • Sep 01Upcoming dividend of ฿0.12 per shareEligible shareholders must have bought the stock before 08 September 2022. Payment date: 23 September 2022. Payout ratio is a comfortable 57% but the company is not cash flow positive. Trailing yield: 6.7%. Within top quartile of Thai dividend payers (5.5%). Higher than average of industry peers (1.7%).お知らせ • Aug 27Tpi Polene Power Public Company Limited Announces Interim Dividend for the Six-Month Ended June 30, 2022, Payable on September 23, 2022TPI Polene Power Public Company Limited announced Interim dividend of THB 0.12 per share payment from unappropriated retained earnings for operating performance up to the six-month period ended June 30, 2022. Record date for the right to receive dividends is September 9, 2022, Ex-dividend date is September 8, 2022 and Payment date is September 23, 2022.Reported Earnings • Aug 14Second quarter 2022 earnings released: EPS: ฿0.10 (vs ฿0.14 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.10 (down from ฿0.14 in 2Q 2021). Revenue: ฿2.56b (down 13% from 2Q 2021). Net income: ฿855.7m (down 28% from 2Q 2021). Profit margin: 34% (down from 41% in 2Q 2021). The decrease in margin was driven by lower 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 15% per year, which means it is performing significantly worse than earnings.Price Target Changed • Jun 08Price target decreased to ฿4.00Down from ฿5.05, the current price target is provided by 1 analyst. New target price is 8.1% above last closing price of ฿3.70. Stock is down 19% over the past year. The company posted earnings per share of ฿0.50 last year.Reported Earnings • May 13First quarter 2022 earnings released: EPS: ฿0.10 (vs ฿0.13 in 1Q 2021)First quarter 2022 results: EPS: ฿0.10 (down from ฿0.13 in 1Q 2021). Revenue: ฿2.79b (up 5.2% from 1Q 2021). Net income: ฿854.6m (down 20% from 1Q 2021). Profit margin: 31% (down from 40% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.お知らせ • Apr 21TPI Polene Power Public Company Limited Approves Dividend for the Year Ended December 31, 2021, Payable on May 12, 2022TPI Polene Power Public Company Limited announced that at its AGM held on April 19, 2022, the shareholders approved the dividend payment for the year ended December 31, 2021 from the company’s 2021 operating performance at total of THB 0.25 per share or totaling THB 2,100,000,000 accounting for 50.10% of the net profit for the year 2021. Previously, the company made an interim dividend payment form the company’s operating performance up to June 30, 2021, totaling THB 0.12 per share or totaling THB 1,008 million, therefore: the remaining dividend to be paid to shareholders is THB 0.13 per share, totaling THB 1,092 million, payable form the company’s 2021 operating performance. The determination of list of shareholders for the right to receive dividend payment is scheduled on March 3, 2022 and the dividend payment is scheduled on May 12, 2022.Upcoming Dividend • Feb 23Upcoming dividend of ฿0.13 per shareEligible shareholders must have bought the stock before 02 March 2022. Payment date: 12 May 2022. Payout ratio is a comfortable 50% but the company is paying out more than the cash it is generating. Trailing yield: 6.0%. Within top quartile of Thai dividend payers (5.0%). Higher than average of industry peers (1.6%).お知らせ • Feb 18+ 1 more updateTPI Polene Power Public Company Limited Proposes Dividend for the Year 2021, Payable on May 12, 2022TPI Polene Power Public Company Limited proposed at the 2022 AGM to approve the dividend payment from the company's operating performance in 2021 at THB 0.25 per share, totaling THB 2,100 million or account 50.10% of the net profit for the year 2021. previously, the Company made an interim dividend payment from the Company's operating performance up to June 30, 2021, totaling THB 0.12 per share or totaling THB 1,008 million, therefore; the remaining dividend to be paid to shareholders is THB 0.13 per share, totaling THB 1,092 million, payable from the Company's operating performance for the period of January 1, 2021 to December 31, 2021. The determination of list of shareholders for the right to receive dividend payment is scheduled on March 3, 2022 ("Record date") and the dividend payment is scheduled on May 12, 2022.Reported Earnings • Feb 18Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: ฿0.50 (down from ฿0.54 in FY 2020). Revenue: ฿11.1b (flat on FY 2020). Net income: ฿4.19b (down 7.0% from FY 2020). Profit margin: 38% (down from 41% in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.Reported Earnings • Nov 10Third quarter 2021 earnings released: EPS ฿0.11 (vs ฿0.14 in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿2.88b (down 4.4% from 3Q 2020). Net income: ฿943.0m (down 22% from 3Q 2020). Profit margin: 33% (down from 40% in 3Q 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings.Upcoming Dividend • Sep 02Upcoming dividend of ฿0.12 per shareEligible shareholders must have bought the stock before 09 September 2021. Payment date: 22 September 2021. Trailing yield: 6.1%. Within top quartile of Thai dividend payers (5.0%). Higher than average of industry peers (1.7%).Reported Earnings • Aug 13Second quarter 2021 earnings released: EPS ฿0.14 (vs ฿0.14 in 2Q 2020)The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: ฿2.92b (up 4.6% from 2Q 2020). Net income: ฿1.19b (up 1.4% from 2Q 2020). Profit margin: 41% (down from 42% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.Reported Earnings • May 17First quarter 2021 earnings released: EPS ฿0.13 (vs ฿0.12 in 1Q 2020)The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: ฿2.73b (up 7.5% from 1Q 2020). Net income: ฿1.06b (up 9.7% from 1Q 2020). Profit margin: 39% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.Reported Earnings • Feb 12Full year 2020 earnings released: EPS ฿0.54 (vs ฿0.55 in FY 2019)The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: ฿11.1b (up 5.2% from FY 2019). Net income: ฿4.51b (down 2.2% from FY 2019). Profit margin: 41% (down from 44% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings.Is New 90 Day High Low • Nov 26New 90-day high: ฿4.44The company is up 1.0% from its price of ฿4.38 on 28 August 2020. The Thai market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 3.0% over the same period.Reported Earnings • Nov 11Third quarter 2020 earnings released: EPS ฿0.14The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2020 results: Revenue: ฿3.01b (up 12% from 3Q 2019). Net income: ฿1.21b (up 9.8% from 3Q 2019). Profit margin: 40% (down from 41% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings.収支内訳TPI Polene Power 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:TPIPP 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 268,4981,514555031 Dec 259,0662,266549030 Sep 259,7392,845475030 Jun 2510,3453,186515031 Mar 2510,9113,570523031 Dec 2410,7473,302527030 Sep 2410,6293,224552030 Jun 2410,3753,229511031 Mar 2410,6083,306512031 Dec 2310,9903,653537030 Sep 2310,8423,384563030 Jun 2310,7263,084576031 Mar 2310,3523,005566031 Dec 2210,2002,813524030 Sep 2210,2873,248487030 Jun 2210,8443,653508031 Mar 2211,2113,985581031 Dec 2111,0744,191647030 Sep 2111,2314,353667030 Jun 2111,3644,616624031 Mar 2111,2354,600558031 Dec 2011,1194,506499030 Sep 2011,2194,620480030 Jun 2010,8944,512484031 Mar 2010,6764,591495031 Dec 1910,5714,607508030 Sep 199,9764,307537030 Jun 199,3964,213514031 Mar 198,6993,928429031 Dec 187,6203,699385030 Sep 186,6503,318301030 Jun 185,6872,906289031 Mar 185,0492,647284031 Dec 174,8652,592253030 Sep 174,7752,402215030 Jun 174,5382,093192031 Mar 174,4261,886190031 Dec 164,4021,824191031 Dec 152,6751,0301020質の高い収益: TPIPPは 高品質の収益 を持っています。利益率の向上: TPIPPの現在の純利益率 (17.8%)は、昨年(32.7%)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: TPIPPの収益は過去 5 年間で年間11.2%減少しました。成長の加速: TPIPP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: TPIPPは過去 1 年間で収益成長率がマイナス ( -57.6% ) となったため、 Renewable Energy業界平均 ( 4.3% ) と比較することが困難です。株主資本利益率高いROE: TPIPPの 自己資本利益率 ( 4.1% ) 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7D1Y7D1Y7D1YUtilities 、過去の業績が好調な企業。View Financial Health企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/22 12:33終値2026/05/22 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋TPI Polene Power Public Company Limited 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。4 アナリスト機関Suwat SinsadokCGS InternationalJesada TechahusdinMaybank Research Pte. Ltd.Kaushal LadhaMaybank Research Pte. Ltd.1 その他のアナリストを表示
Reported Earnings • Feb 24Full year 2025 earnings released: EPS: ฿0.27 (vs ฿0.39 in FY 2024)Full year 2025 results: EPS: ฿0.27 (down from ฿0.39 in FY 2024). Revenue: ฿9.07b (down 16% from FY 2024). Net income: ฿2.27b (down 31% from FY 2024). Profit margin: 25% (down from 31% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings.
Reported Earnings • Nov 07Third quarter 2025 earnings released: EPS: ฿0.059 (vs ฿0.099 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.059 (down from ฿0.099 in 3Q 2024). Revenue: ฿2.09b (down 23% from 3Q 2024). Net income: ฿491.7m (down 41% from 3Q 2024). Profit margin: 24% (down from 31% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.
Reported Earnings • Aug 09Second quarter 2025 earnings released: EPS: ฿0.056 (vs ฿0.10 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.056 (down from ฿0.10 in 2Q 2024). Revenue: ฿2.13b (down 21% from 2Q 2024). Net income: ฿474.3m (down 45% from 2Q 2024). Profit margin: 22% (down from 32% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 4.0% p.a. on average during the next 2 years, while revenues in the Renewable Energy industry in Thailand are expected to grow by 2.2%. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.
Reported Earnings • May 09First quarter 2025 earnings released: EPS: ฿0.12 (vs ฿0.083 in 1Q 2024)First quarter 2025 results: EPS: ฿0.12 (up from ฿0.083 in 1Q 2024). Revenue: ฿2.72b (up 6.4% from 1Q 2024). Net income: ฿966.9m (up 38% from 1Q 2024). Profit margin: 36% (up from 27% in 1Q 2024). The increase in margin was primarily driven by higher revenue. Revenue is forecast to decline by 5.7% p.a. on average during the next 2 years, while revenues in the Renewable Energy industry in Thailand are expected to remain flat. 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 15% per year, which means it is performing significantly worse than earnings.
Reported Earnings • Feb 14Full year 2024 earnings released: EPS: ฿0.39 (vs ฿0.43 in FY 2023)Full year 2024 results: EPS: ฿0.39 (down from ฿0.43 in FY 2023). Revenue: ฿10.7b (down 2.2% from FY 2023). Net income: ฿3.30b (down 9.6% from FY 2023). Profit margin: 31% (down from 33% in FY 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 11% per year.
Reported Earnings • Nov 12Third quarter 2024 earnings released: EPS: ฿0.099 (vs ฿0.10 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.099 (down from ฿0.10 in 3Q 2023). Revenue: ฿2.69b (up 10% from 3Q 2023). Net income: ฿833.3m (flat on 3Q 2023). Profit margin: 31% (down from 34% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 2 years compared to a 2.6% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 10% per year.
New Risk • May 11New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 18% Last year net profit margin: 33% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (10% operating cash flow to total debt). Earnings have declined by 11% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (18% net profit margin).
Declared Dividend • Mar 02Dividend of ฿0.07 announcedShareholders will receive a dividend of ฿0.07. Ex-date: 11th March 2026 Payment date: 8th May 2026 Dividend yield will be 3.6%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (21% earnings payout ratio) but not covered by cash flows (459% cash payout ratio). The dividend has decreased over the past 96 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 77% to shift the payout ratio to a potentially unsustainable range, which is more than the 13% EPS decline seen over the last 5 years.
お知らせ • Feb 27+ 1 more updateTPI Polene Power Public Company Limited announces Annual dividend, payable on May 08, 2026TPI Polene Power Public Company Limited announced Annual dividend of THB 0.0700 per share payable on May 08, 2026, ex-date on March 11, 2026 and record date on March 12, 2026.
Reported Earnings • Feb 24Full year 2025 earnings released: EPS: ฿0.27 (vs ฿0.39 in FY 2024)Full year 2025 results: EPS: ฿0.27 (down from ฿0.39 in FY 2024). Revenue: ฿9.07b (down 16% from FY 2024). Net income: ฿2.27b (down 31% from FY 2024). Profit margin: 25% (down from 31% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings.
Valuation Update With 7 Day Price Move • Nov 24Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ฿1.71, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 13x in the Renewable Energy industry in Thailand. Total loss to shareholders of 39% over the past three years.
Reported Earnings • Nov 07Third quarter 2025 earnings released: EPS: ฿0.059 (vs ฿0.099 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.059 (down from ฿0.099 in 3Q 2024). Revenue: ฿2.09b (down 23% from 3Q 2024). Net income: ฿491.7m (down 41% from 3Q 2024). Profit margin: 24% (down from 31% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.
Reported Earnings • Aug 09Second quarter 2025 earnings released: EPS: ฿0.056 (vs ฿0.10 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.056 (down from ฿0.10 in 2Q 2024). Revenue: ฿2.13b (down 21% from 2Q 2024). Net income: ฿474.3m (down 45% from 2Q 2024). Profit margin: 22% (down from 32% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 4.0% p.a. on average during the next 2 years, while revenues in the Renewable Energy industry in Thailand are expected to grow by 2.2%. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.
Buy Or Sell Opportunity • Jul 21Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 7.5% to ฿2.28. The fair value is estimated to be ฿1.89, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to decline by 1.1% in a year. Earnings are forecast to decline by 31% in the next year.
Reported Earnings • May 09First quarter 2025 earnings released: EPS: ฿0.12 (vs ฿0.083 in 1Q 2024)First quarter 2025 results: EPS: ฿0.12 (up from ฿0.083 in 1Q 2024). Revenue: ฿2.72b (up 6.4% from 1Q 2024). Net income: ฿966.9m (up 38% from 1Q 2024). Profit margin: 36% (up from 27% in 1Q 2024). The increase in margin was primarily driven by higher revenue. Revenue is forecast to decline by 5.7% p.a. on average during the next 2 years, while revenues in the Renewable Energy industry in Thailand are expected to remain flat. 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 15% per year, which means it is performing significantly worse than earnings.
お知らせ • Apr 18TPI Polene Power Public Company Limited Approves Dividend for the Year 2024, Payable on May 9, 2025TPI Polene Power Public Company Limited at the AGM held on April 18, 2025 approved the Company to appropriate a legal reserve and dividend payment for the year 2024. The Company has fully allocated the legal reserve in accordance with the Company's Articles of Association. Therefore, the Company is not required to allocate any portion of the net profit as a legal reserve, and it was resolved to approve dividend payment for the year 2024 from the Company's 2024 operating performance at THB 0.16 per share, totaling THB 1,344,000,000 or representing 40.70% of the net profit for the year 2024. Previously, the Company already paid the interim dividend from the Company's retained earnings up to six-month period ended June 30, 2024, at THB 0.09 per share, totaling THB 756,000,000, on September 20, 2024. Therefore, the remaining dividend to be paid is THB 0.07 per share, totaling THB 588,000,000, which is scheduled to be paid on May 9, 2025. The above dividend payment is payable from the retained earnings which is exempted to be paid corporate income tax according to the Board of Investment Promotional Privileges. Shareholders shall receive dividend without withholding tax deduction. Individual shareholders; therefore, cannot claim tax credit.
お知らせ • Mar 07TPI Polene Power Public Company Limited Announces Change of Chief AccountantTPI Polene Power Public Company Limited announced the Changing of Chief Accountant. The company announced the termination of KARUNA PERMSIRIPHAN as Accounting Department Manager, effective from February 28, 2025 and appointment of Jatanathunmjit as Manager of Accounting Department, Effective Date of Appointment is 01 March 2025.
Valuation Update With 7 Day Price Move • Mar 04Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to ฿2.34, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Renewable Energy industry in Thailand. Total loss to shareholders of 29% over the past three years.
Declared Dividend • Mar 01Final dividend reduced to ฿0.07Dividend of ฿0.07 is 42% lower than last year. Ex-date: 12th March 2025 Payment date: 9th May 2025 Dividend yield will be 5.9%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (55% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 48% over the next 2 years. Since a fall of 39% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.
お知らせ • Feb 28TPI Polene Power Public Company Limited, Annual General Meeting, Apr 18, 2025TPI Polene Power Public Company Limited, Annual General Meeting, Apr 18, 2025, at 15:00 SE Asia Standard Time. Location: at the conference room, 9th floor of tpi tower, no, 26/56 chan tat mai road, thungmahamek sub-district, sathorn district, bangkok Thailand
お知らせ • Feb 27TPI Polene Power Public Company Limited Proposes Cash Dividend for the Year Ended December 31, 2024, Payable on May 9, 2025TPI Polene Power Public Company Limited at its AGM to be held on April 18, 2025 proposed cash dividend payment of THB 0.07 per share for the year ended December 31, 2024, payable on May 9, 2025. Paid from Retained Earnings. Record date for the right to receive dividends is March 13, 2025. Ex-dividend date is March 12, 2025.
Reported Earnings • Feb 14Full year 2024 earnings released: EPS: ฿0.39 (vs ฿0.43 in FY 2023)Full year 2024 results: EPS: ฿0.39 (down from ฿0.43 in FY 2023). Revenue: ฿10.7b (down 2.2% from FY 2023). Net income: ฿3.30b (down 9.6% from FY 2023). Profit margin: 31% (down from 33% in FY 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 11% per year.
Reported Earnings • Nov 12Third quarter 2024 earnings released: EPS: ฿0.099 (vs ฿0.10 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.099 (down from ฿0.10 in 3Q 2023). Revenue: ฿2.69b (up 10% from 3Q 2023). Net income: ฿833.3m (flat on 3Q 2023). Profit margin: 31% (down from 34% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 2 years compared to a 2.6% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 10% per year.
Declared Dividend • Aug 31First half dividend reduced to ฿0.09Dividend of ฿0.09 is 25% lower than last year. Ex-date: 11th September 2024 Payment date: 20th September 2024 Dividend yield will be 7.0%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (31% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 14% over the next year. However, it would need to fall by 65% to increase the payout ratio to a potentially unsustainable range.
お知らせ • Aug 29TPI Polene Power Public Company Limited Announces Interim Cash Dividend for the Six-Month Period Ended June 30, 2024, Payable on 20 September 2024TPI Polene Power Public Company Limited announced the interim cash dividend of THB 0.09 per share payment from unappropriated retained earnings for operating performance up to the six-month period ended June 30, 2024. Record date for the right to receive dividends on 12 September 2024 with Ex-dividend date on 11 September 2024. Payment date on 20 September 2024.
Price Target Changed • Aug 08Price target decreased by 20% to ฿3.20Down from ฿4.00, the current price target is provided by 1 analyst. New target price is 18% above last closing price of ฿2.72. Stock is down 20% over the past year. The company is forecast to post earnings per share of ฿0.43 for next year compared to ฿0.43 last year.
Reported Earnings • Aug 07Second quarter 2024 earnings released: EPS: ฿0.10 (vs ฿0.11 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.10 (down from ฿0.11 in 2Q 2023). Revenue: ฿2.70b (down 8.0% from 2Q 2023). Net income: ฿857.7m (down 8.3% from 2Q 2023). Profit margin: 32% (in line with 2Q 2023). Revenue is forecast to grow 2.1% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 15% per year.
Buy Or Sell Opportunity • Aug 06Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 19% to ฿2.70. The fair value is estimated to be ฿3.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 13%. Revenue is forecast to grow by 12% in a year. Earnings are forecast to grow by 2.3% in the next year.
お知らせ • Jul 27TPI Polene Power Public Company Limited Approves Board AppointmentsTPI Polene Power Public Company Limited at its Extraordinary Meeting of Shareholders no.1/2567 held on July 26, 2024, approved to consider the appointment of new meeting, which the meeting approved Mr. Paisan katchasuwanmanee to be in the positions of Independent Director and Audit committee and Mr. Thanakorn Liewphairatana to be in the position of Director of the company.
Reported Earnings • May 10First quarter 2024 earnings released: EPS: ฿0.083 (vs ฿0.13 in 1Q 2023)First quarter 2024 results: EPS: ฿0.083 (down from ฿0.13 in 1Q 2023). Revenue: ฿2.56b (down 13% from 1Q 2023). Net income: ฿699.4m (down 33% from 1Q 2023). Profit margin: 27% (down from 36% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.7% p.a. on average during the next 2 years, compared to a 4.7% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 9% per year.
お知らせ • Apr 19TPI Polene Power Public Company Limited Approves Dividend Payment for the Year Ended December 31, 2023, Payable on May 9, 2024TPI Polene Power Public Company Limited at its AGM held on April 18, 2024, approved dividend payment for the year 2023 from the company's 2023 operating performance at THB 0.24 per share totaling THB 2,016,000,000 or representing 55.19% of the net profit for the year 2023. Previously the company already paid the interim dividend from the company's retained earnings up to six month period ended June 30, 2023 at THB 0.12 per share totaling THB 1,008,000,000 on September 25, 2023. Therefore there is a remaining dividend to be paid to shareholders at THB 0.12 per share totaling THB 1,008,000,000. The determination of list of shareholders for the right to receive dividend payment is scheduled on March 14, 2024 (record date) and the interim dividend payment is scheduled on May 9, 2024.
お知らせ • Mar 19TPI Polene Power Public Company Limited, Annual General Meeting, Apr 18, 2024TPI Polene Power Public Company Limited, Annual General Meeting, Apr 18, 2024, at 15:00 SE Asia Standard Time. Location: Conference Room, 9th Floor of TPI Tower No. 26/56 Chan Tat Mai road, Thungmahamek sub-district, Sathorn district Bangkok Thailand Agenda: To consider and confirm minutes of the 2023 Annual Meeting of Shareholders; to acknowledge the 2023 operating result of the company; to consider the audit committee report on their audit on the 2023 operating result; to consider and approve Balance Sheets and Profit and Loss Statements of 2023 for the period ended December 31, 2023; to consider and approve an appropriation of the legal reserve and the payment of dividend for 2023; and to consider other matters.
Upcoming Dividend • Mar 06Upcoming dividend of ฿0.12 per shareEligible shareholders must have bought the stock before 13 March 2024. Payment date: 09 May 2024. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 7.1%. Within top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (2.7%).
Declared Dividend • Mar 02Dividend increased to ฿0.12Dividend of ฿0.12 is 300% higher than last year. Ex-date: 13th March 2024 Payment date: 9th May 2024 Dividend yield will be 7.0%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (37% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 27% over the next 2 years. However, it would need to fall by 59% to increase the payout ratio to a potentially unsustainable range.
お知らせ • Mar 01TPI Polene Power Public Company Limited Announces Interim Cash Dividend, Payable on May 09, 2024TPI Polene Power Public Company Limited proposed dividend payment from the company's operating results for the year 2023 at THB 0.24 per share. Previously, the company already paid interim dividend from the company's retained earnings up to six month period ended June 30, 2023 at THB 0.12 per share. Therefore, remaining dividend is to be paid at THB 0.12 per share. Record date for the right to receive dividends on 14 March 2024 with Ex-dividend date on 13 March 2024, Payment date on May 09, 2024.
Reported Earnings • Feb 20Full year 2023 earnings released: EPS: ฿0.43 (vs ฿0.34 in FY 2022)Full year 2023 results: EPS: ฿0.43 (up from ฿0.34 in FY 2022). Revenue: ฿11.0b (up 7.7% from FY 2022). Net income: ฿3.65b (up 30% from FY 2022). Profit margin: 33% (up from 28% in FY 2022). Revenue is forecast to stay flat during the next 2 years compared to a 2.0% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.
Reported Earnings • Nov 14Third quarter 2023 earnings released: EPS: ฿0.10 (vs ฿0.064 in 3Q 2022)Third quarter 2023 results: EPS: ฿0.10 (up from ฿0.064 in 3Q 2022). Revenue: ฿2.44b (up 5.0% from 3Q 2022). Net income: ฿838.7m (up 56% from 3Q 2022). Profit margin: 34% (up from 23% in 3Q 2022). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Sep 06Upcoming dividend of ฿0.12 per share at 6.9% yieldEligible shareholders must have bought the stock before 13 September 2023. Payment date: 25 September 2023. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 6.9%. Within top quartile of Thai dividend payers (6.2%). Higher than average of industry peers (1.8%).
お知らせ • Sep 01TPI Polene Power Public Company Limited Announces Interim Cash Dividend for the Six-Month Period Ended June 30, 2023, Payable on 25 September 2023TPI Polene Power Public Company Limited announced the interim cash dividend of THB 0.12 per share payment from unappropriated retained earnings for operating performance up to the six-month period ended June 30, 2023. Record date for the right to receive dividends on 14 September 2023 with Ex-dividend date on 13 September 2023 Payment date on 25 September 2023.
Reported Earnings • Aug 08Second quarter 2023 earnings released: EPS: ฿0.11 (vs ฿0.10 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.11 (up from ฿0.10 in 2Q 2022). Revenue: ฿2.93b (up 15% from 2Q 2022). Net income: ฿935.0m (up 9.3% from 2Q 2022). Profit margin: 32% (down from 34% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.2% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.
Price Target Changed • Mar 08Price target increased by 18% to ฿4.00Up from ฿3.40, the current price target is provided by 1 analyst. New target price is 18% above last closing price of ฿3.38. Stock is down 13% over the past year. The company posted earnings per share of ฿0.33 last year.
Upcoming Dividend • Mar 01Upcoming dividend of ฿0.03 per share at 7.4% yieldEligible shareholders must have bought the stock before 08 March 2023. Payment date: 11 May 2023. Payout ratio is on the higher end at 88%, and the cash payout ratio is above 100%. Trailing yield: 7.4%. Within top quartile of Thai dividend payers (5.6%). Higher than average of industry peers (1.7%).
Upcoming Dividend • Feb 01Upcoming dividend of ฿0.09 per share at 7.1% yieldEligible shareholders must have bought the stock before 08 February 2023. Payment date: 23 February 2023. Payout ratio is a comfortable 65% but the company is paying out more than the cash it is generating. Trailing yield: 7.1%. Within top quartile of Thai dividend payers (5.5%). Higher than average of industry peers (1.7%).
お知らせ • Jan 27TPI Polene Power Public Company Limited Announces Interim Cash Dividend for Operating Performance Up to the Nine-Month Period Ended September 30, 2022, Payable on 23 February 2023TPI Polene Power Public Company Limited announced interim cash dividend of THB 0.09 per share from unappropriated retained earnings for operating performance up to the nine-month period ended September 30, 2022. Record date for the right to receive dividends 09 February 2023. Ex-dividend date 08 February 2023. Payment date 23 February 2023.
Price Target Changed • Nov 16Price target decreased to ฿3.60Down from ฿4.00, the current price target is provided by 1 analyst. New target price is 10% above last closing price of ฿3.26. Stock is down 22% over the past year. The company posted earnings per share of ฿0.50 last year.
Reported Earnings • Nov 11Third quarter 2022 earnings released: EPS: ฿0.064 (vs ฿0.11 in 3Q 2021)Third quarter 2022 results: EPS: ฿0.064 (down from ฿0.11 in 3Q 2021). Revenue: ฿2.32b (down 19% from 3Q 2021). Net income: ฿538.5m (down 43% from 3Q 2021). Profit margin: 23% (down from 33% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 12% per year.
Upcoming Dividend • Sep 01Upcoming dividend of ฿0.12 per shareEligible shareholders must have bought the stock before 08 September 2022. Payment date: 23 September 2022. Payout ratio is a comfortable 57% but the company is not cash flow positive. Trailing yield: 6.7%. Within top quartile of Thai dividend payers (5.5%). Higher than average of industry peers (1.7%).
お知らせ • Aug 27Tpi Polene Power Public Company Limited Announces Interim Dividend for the Six-Month Ended June 30, 2022, Payable on September 23, 2022TPI Polene Power Public Company Limited announced Interim dividend of THB 0.12 per share payment from unappropriated retained earnings for operating performance up to the six-month period ended June 30, 2022. Record date for the right to receive dividends is September 9, 2022, Ex-dividend date is September 8, 2022 and Payment date is September 23, 2022.
Reported Earnings • Aug 14Second quarter 2022 earnings released: EPS: ฿0.10 (vs ฿0.14 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.10 (down from ฿0.14 in 2Q 2021). Revenue: ฿2.56b (down 13% from 2Q 2021). Net income: ฿855.7m (down 28% from 2Q 2021). Profit margin: 34% (down from 41% in 2Q 2021). The decrease in margin was driven by lower 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 15% per year, which means it is performing significantly worse than earnings.
Price Target Changed • Jun 08Price target decreased to ฿4.00Down from ฿5.05, the current price target is provided by 1 analyst. New target price is 8.1% above last closing price of ฿3.70. Stock is down 19% over the past year. The company posted earnings per share of ฿0.50 last year.
Reported Earnings • May 13First quarter 2022 earnings released: EPS: ฿0.10 (vs ฿0.13 in 1Q 2021)First quarter 2022 results: EPS: ฿0.10 (down from ฿0.13 in 1Q 2021). Revenue: ฿2.79b (up 5.2% from 1Q 2021). Net income: ฿854.6m (down 20% from 1Q 2021). Profit margin: 31% (down from 40% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.
お知らせ • Apr 21TPI Polene Power Public Company Limited Approves Dividend for the Year Ended December 31, 2021, Payable on May 12, 2022TPI Polene Power Public Company Limited announced that at its AGM held on April 19, 2022, the shareholders approved the dividend payment for the year ended December 31, 2021 from the company’s 2021 operating performance at total of THB 0.25 per share or totaling THB 2,100,000,000 accounting for 50.10% of the net profit for the year 2021. Previously, the company made an interim dividend payment form the company’s operating performance up to June 30, 2021, totaling THB 0.12 per share or totaling THB 1,008 million, therefore: the remaining dividend to be paid to shareholders is THB 0.13 per share, totaling THB 1,092 million, payable form the company’s 2021 operating performance. The determination of list of shareholders for the right to receive dividend payment is scheduled on March 3, 2022 and the dividend payment is scheduled on May 12, 2022.
Upcoming Dividend • Feb 23Upcoming dividend of ฿0.13 per shareEligible shareholders must have bought the stock before 02 March 2022. Payment date: 12 May 2022. Payout ratio is a comfortable 50% but the company is paying out more than the cash it is generating. Trailing yield: 6.0%. Within top quartile of Thai dividend payers (5.0%). Higher than average of industry peers (1.6%).
お知らせ • Feb 18+ 1 more updateTPI Polene Power Public Company Limited Proposes Dividend for the Year 2021, Payable on May 12, 2022TPI Polene Power Public Company Limited proposed at the 2022 AGM to approve the dividend payment from the company's operating performance in 2021 at THB 0.25 per share, totaling THB 2,100 million or account 50.10% of the net profit for the year 2021. previously, the Company made an interim dividend payment from the Company's operating performance up to June 30, 2021, totaling THB 0.12 per share or totaling THB 1,008 million, therefore; the remaining dividend to be paid to shareholders is THB 0.13 per share, totaling THB 1,092 million, payable from the Company's operating performance for the period of January 1, 2021 to December 31, 2021. The determination of list of shareholders for the right to receive dividend payment is scheduled on March 3, 2022 ("Record date") and the dividend payment is scheduled on May 12, 2022.
Reported Earnings • Feb 18Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: ฿0.50 (down from ฿0.54 in FY 2020). Revenue: ฿11.1b (flat on FY 2020). Net income: ฿4.19b (down 7.0% from FY 2020). Profit margin: 38% (down from 41% in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.
Reported Earnings • Nov 10Third quarter 2021 earnings released: EPS ฿0.11 (vs ฿0.14 in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿2.88b (down 4.4% from 3Q 2020). Net income: ฿943.0m (down 22% from 3Q 2020). Profit margin: 33% (down from 40% in 3Q 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Sep 02Upcoming dividend of ฿0.12 per shareEligible shareholders must have bought the stock before 09 September 2021. Payment date: 22 September 2021. Trailing yield: 6.1%. Within top quartile of Thai dividend payers (5.0%). Higher than average of industry peers (1.7%).
Reported Earnings • Aug 13Second quarter 2021 earnings released: EPS ฿0.14 (vs ฿0.14 in 2Q 2020)The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: ฿2.92b (up 4.6% from 2Q 2020). Net income: ฿1.19b (up 1.4% from 2Q 2020). Profit margin: 41% (down from 42% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.
Reported Earnings • May 17First quarter 2021 earnings released: EPS ฿0.13 (vs ฿0.12 in 1Q 2020)The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: ฿2.73b (up 7.5% from 1Q 2020). Net income: ฿1.06b (up 9.7% from 1Q 2020). Profit margin: 39% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.
Reported Earnings • Feb 12Full year 2020 earnings released: EPS ฿0.54 (vs ฿0.55 in FY 2019)The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: ฿11.1b (up 5.2% from FY 2019). Net income: ฿4.51b (down 2.2% from FY 2019). Profit margin: 41% (down from 44% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings.
Is New 90 Day High Low • Nov 26New 90-day high: ฿4.44The company is up 1.0% from its price of ฿4.38 on 28 August 2020. The Thai market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 3.0% over the same period.
Reported Earnings • Nov 11Third quarter 2020 earnings released: EPS ฿0.14The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2020 results: Revenue: ฿3.01b (up 12% from 3Q 2019). Net income: ฿1.21b (up 9.8% from 3Q 2019). Profit margin: 40% (down from 41% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings.