Reported Earnings • Mar 02
Full year 2025 earnings released: ฿0.19 loss per share (vs ฿0.035 loss in FY 2024) Full year 2025 results: ฿0.19 loss per share (further deteriorated from ฿0.035 loss in FY 2024). Revenue: ฿385.4m (down 28% from FY 2024). Net loss: ฿209.1m (loss widened 442% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 44% per year whereas the company’s share price has fallen by 39% per year. New Risk • Dec 12
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 8.4% 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 (12% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (8.4% average weekly change). Earnings have declined by 62% per year over the past 5 years. Market cap is less than US$10m (฿200.9m market cap, or US$6.38m). Buy Or Sell Opportunity • Dec 12
Now 26% overvalued Over the last 90 days, the stock has fallen 22% to ฿0.18. The fair value is estimated to be ฿0.14, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.9% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Nov 25
Now 25% overvalued Over the last 90 days, the stock has fallen 18% to ฿0.18. The fair value is estimated to be ฿0.14, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.9% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Nov 15
Third quarter 2025 earnings released: ฿0.039 loss per share (vs ฿0.015 profit in 3Q 2024) Third quarter 2025 results: ฿0.039 loss per share (down from ฿0.015 profit in 3Q 2024). Revenue: ฿81.0m (down 38% from 3Q 2024). Net loss: ฿43.6m (down 361% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 38% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 14
Second quarter 2025 earnings released: ฿0.039 loss per share (vs ฿0.012 loss in 2Q 2024) Second quarter 2025 results: ฿0.039 loss per share (further deteriorated from ฿0.012 loss in 2Q 2024). Revenue: ฿99.3m (down 34% from 2Q 2024). Net loss: ฿43.7m (loss widened 237% from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 35% per year, which means it has not declined as severely as earnings. Reported Earnings • May 16
First quarter 2025 earnings released: ฿0.032 loss per share (vs ฿0.017 loss in 1Q 2024) First quarter 2025 results: ฿0.032 loss per share (further deteriorated from ฿0.017 loss in 1Q 2024). Revenue: ฿111.1m (down 8.8% from 1Q 2024). Net loss: ฿35.2m (loss widened 90% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 27 percentage points per year, which is a significant difference in performance. New Risk • Mar 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 7.9% 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 Risks Interest payments are not well covered by earnings (0.3x net interest cover). Earnings have declined by 65% per year over the past 5 years. Market cap is less than US$10m (฿189.7m market cap, or US$5.56m). Minor Risk Share price has been volatile over the past 3 months (7.9% average weekly change). Reported Earnings • Mar 02
Full year 2024 earnings released: ฿0.035 loss per share (vs ฿0.10 loss in FY 2023) Full year 2024 results: ฿0.035 loss per share (improved from ฿0.10 loss in FY 2023). Revenue: ฿579.8m (up 5.9% from FY 2023). Net loss: ฿38.6m (loss narrowed 67% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 43 percentage points per year, which is a significant difference in performance. 공시 • Mar 01
Sakol Energy Public Company Limited, Annual General Meeting, Apr 25, 2025 Sakol Energy Public Company Limited, Annual General Meeting, Apr 25, 2025, at 13:00 SE Asia Standard Time. Location: hybrid physical meeting at wassana, 3rd floor, golden tulip sovereign hotel, 92 saengcham alley, rama 9 road, bang kapi subdistrict, huay kwang district, bangkok, 10310 Thailand New Risk • Dec 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.1% 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 Risks Debt is not well covered by operating cash flow (6.4% operating cash flow to total debt). Earnings have declined by 67% per year over the past 5 years. Market cap is less than US$10m (฿323.6m market cap, or US$9.45m). Minor Risk Share price has been volatile over the past 3 months (6.1% average weekly change). New Risk • Nov 12
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿346.0m (US$9.93m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (9.8% operating cash flow to total debt). Earnings have declined by 70% per year over the past 5 years. Market cap is less than US$10m (฿346.0m market cap, or US$9.93m). Reported Earnings • Aug 16
Second quarter 2024 earnings released: ฿0.012 loss per share (vs ฿0.022 loss in 2Q 2023) Second quarter 2024 results: ฿0.012 loss per share (improved from ฿0.022 loss in 2Q 2023). Revenue: ฿150.1m (flat on 2Q 2023). Net loss: ฿13.0m (loss narrowed 47% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. New Risk • Jul 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.4% 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 Risks Debt is not well covered by operating cash flow (9.9% operating cash flow to total debt). Earnings have declined by 67% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Market cap is less than US$100m (฿368.3m market cap, or US$10.1m). New Risk • Jun 19
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿334.8m (US$9.13m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (9.9% operating cash flow to total debt). Earnings have declined by 67% per year over the past 5 years. Market cap is less than US$10m (฿334.8m market cap, or US$9.13m). Reported Earnings • May 17
First quarter 2024 earnings released: ฿0.017 loss per share (vs ฿0.019 loss in 1Q 2023) First quarter 2024 results: ฿0.017 loss per share (improved from ฿0.019 loss in 1Q 2023). Revenue: ฿121.8m (down 16% from 1Q 2023). Net loss: ฿18.5m (loss narrowed 11% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 02
Full year 2023 earnings released: ฿0.10 loss per share (vs ฿0.002 profit in FY 2022) Full year 2023 results: ฿0.10 loss per share (down from ฿0.002 profit in FY 2022). Revenue: ฿547.4m (up 13% from FY 2022). Net loss: ฿116.7m (down ฿119.0m from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. 공시 • Mar 02
Sakol Energy Public Company Limited, Annual General Meeting, Apr 26, 2024 Sakol Energy Public Company Limited, Annual General Meeting, Apr 26, 2024, at 13:00 SE Asia Standard Time. Location: Chaturathit 3rd floor, Golden Tulip Sovereign Hotel, 92 Saengcham Alley, Rama 9 Road, Bang Kapi Subdistrict, Huay Kwang District, Bangkok, 10310 Bangkok Thailand Agenda: To consider and certify the Minutes of the 2023 Annual General Meeting of Shareholders;to consider and acknowledge the report on the annual operation results for the year 2023;to consider and approve the statement of financial position and the statement of comprehensive income for the fiscal year ended December 31, 2023;to consider and approve the suspension of allocation of profit and dividend payment from the operation results ended December 31, 2023;to consider and approve the appointment of directors to replace the directors who must retire by rotation;to consider and approve the remuneration of directors for the year 2024;to consider and approve the appointment of the auditors and the determination of the auditor's remuneration for the year 2024; and to consider other matters. New Risk • Feb 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 10% 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 (14% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 53% per year over the past 5 years. Minor Risk Market cap is less than US$100m (฿691.9m market cap, or US$19.1m). 공시 • Jan 05
Sakol Energy Public Company Limited Announces Change of Chief Accountant Sakol Energy Public Company Limited announced the resignation of Miss. Rung-arun Lerdsaknapakul as Accounting and Budgeting Manager of the company with effect from December 22, 2023. The company appointed Miss. Warangkana Punyakitphokin as Accounting and Budgeting Manager of the company, with effect from January 3, 2024. New Risk • Aug 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Earnings have declined by 43% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.0% average weekly change). Market cap is less than US$100m (฿580.3m market cap, or US$16.4m). New Risk • Aug 12
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 13% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Earnings have declined by 43% per year over the past 5 years. Minor Risk Market cap is less than US$100m (฿580.3m market cap, or US$16.5m). Reported Earnings • Aug 11
Second quarter 2023 earnings released: ฿0.022 loss per share (vs ฿0.016 profit in 2Q 2022) Second quarter 2023 results: ฿0.022 loss per share (down from ฿0.016 profit in 2Q 2022). Revenue: ฿150.5m (up 21% from 2Q 2022). Net loss: ฿24.6m (down 234% from profit in 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Reported Earnings • May 15
First quarter 2023 earnings released: ฿0.019 loss per share (vs ฿0.002 loss in 1Q 2022) First quarter 2023 results: ฿0.019 loss per share (further deteriorated from ฿0.002 loss in 1Q 2022). Revenue: ฿144.8m (up 28% from 1Q 2022). Net loss: ฿20.9m (loss widened ฿18.5m from 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 3 highly experienced directors. Independent President of Board of Directors Direk Lavansiri was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 10
Third quarter 2022 earnings released: ฿0.003 loss per share (vs ฿0.003 profit in 3Q 2021) Third quarter 2022 results: ฿0.003 loss per share (down from ฿0.003 profit in 3Q 2021). Revenue: ฿120.3m (up 7.2% from 3Q 2021). Net loss: ฿3.68m (down 219% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Aug 19
Second quarter 2022 earnings released: EPS: ฿0.016 (vs ฿0.013 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.016 (up from ฿0.013 in 2Q 2021). Revenue: ฿138.7m (up 13% from 2Q 2021). Net income: ฿18.3m (up 42% from 2Q 2021). Profit margin: 13% (up from 11% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Reported Earnings • May 19
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: ฿0.002 loss per share (down from ฿0.006 profit in 1Q 2021). Revenue: ฿112.9m (down 15% from 1Q 2021). Net loss: ฿2.42m (down 144% from profit in 1Q 2021). Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 3 highly experienced directors. Independent President of Board of Directors Direk Lavansiri was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 03
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: ฿0.026 (down from ฿0.04 in FY 2020). Revenue: ฿501.5m (down 2.6% from FY 2020). Net income: ฿26.7m (down 28% from FY 2020). Profit margin: 5.3% (down from 7.2% in FY 2020). Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 9.2%. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Executive Departure • Dec 01
Accounting & Budgeting Manager Nattawat Phetthai has left the company On the 21st of November, Nattawat Phetthai's tenure as Accounting & Budgeting Manager ended after less than a year in the role. We don't have any record of a personal shareholding under Nattawat's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 7.58 years. Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS ฿0.002 (vs ฿0.007 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: ฿134.7m (up 2.6% from 3Q 2020). Net income: ฿3.10m (down 54% from 3Q 2020). Profit margin: 2.3% (down from 5.2% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS ฿0.014 (vs ฿0.014 in 2Q 2020) The company reported a mediocre second quarter result with weaker revenues, although earnings were flat and profit margins improved. Second quarter 2021 results: Revenue: ฿114.2m (down 21% from 2Q 2020). Net income: ฿12.9m (flat on 2Q 2020). Profit margin: 11% (up from 8.9% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. 공시 • Jun 02
Sakol Energy Public Company Limited (SET:SKE) acquired N15 Technology Company Limited from Alpine Technology Manufacturing (Thailand) Company Limited and Capital Greentech Company Limited for THB 145 million. Sakol Energy Public Company Limited (SET:SKE) acquired N15 Technology Company Limited from Alpine Technology Manufacturing (Thailand) Company Limited and Capital Greentech Company Limited for THB 145 million on June 1, 2021. As of June 1, 2021 or any dates agreed otherwise by the contracting parties, the Company will enter into the entire business transfer agreement with Alpine and Capital. The Company will
receive the transfer of entire of ordinary shares of N15 from Alpine Technology Company Limited (“Alpine”) and Capital Greentech Company Limited (“Capital”) in total of 399,998 shares and the Company will pay for the total consideration of THB 43.5 million, which is equivalent to 30% of the total consideration, to Alpine and Capital amounting to THB 21.750 million and THB 21.75 million respectively, and; (2) As of October 1, 2021 or any date agreed otherwise by the contracting parties but shall not be later than November 30, 2021, the Company will pay for the total remaining consideration of THB 101.5 million, which is equivalent to 70 % of the total consideration, to Alpine and Capital amounting to THB 50.750 million and THB 50.750 million respectively.
Sakol Energy Public Company Limited (SET:SKE) completed the acquisition of N15 Technology Company Limited from Alpine Technology Manufacturing (Thailand) Company Limited and Capital Greentech Company Limited on June 1, 2021 Reported Earnings • May 17
First quarter 2021 earnings released: EPS ฿0.006 (vs ฿0.014 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿120.6m (down 13% from 1Q 2020). Net income: ฿5.53m (down 57% from 1Q 2020). Profit margin: 4.6% (down from 9.4% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improved over the past week After last week's 27% share price gain to ฿1.14, the stock trades at a trailing P/E ratio of 28.4x. Average trailing P/E is 18x in the Oil and Gas industry in Thailand. Total loss to shareholders of 14% over the past three years. Executive Departure • Mar 25
Director has left the company On the 23rd of March, Tanipa Puangjumpa's tenure as Director ended after 5.5 years in the role. We don't have any record of a personal shareholding under Tanipa's name. Tanipa is the only executive to leave the company over the last 12 months. 공시 • Mar 03
Sakol Energy Public Company Limited, Annual General Meeting, Apr 30, 2021 Sakol Energy Public Company Limited, Annual General Meeting, Apr 30, 2021, at 13:00 SE Asia Standard Time. Agenda: To consider and certify the Minutes of the 2020 Annual General Meeting of Shareholders; to acknowledge the annual performance report for the accounting period ended 31 December 2020; to consider and approve the financial statements and the comprehensive income statement of the Company for the accounting period ended 31 December 2020; to consider and approve the appropriation of profit and the suspension of dividend payment for the accounting period ended 31 December 2020; to consider and approve the election of the Company's directors to replace those who must retire by rotation; to consider and approve the amendment of the Company's objectives and Clause 3 of the Memorandum of Association of the Company to be in line with the amendment of the Company's objectives; and to discuss other matters. Reported Earnings • Mar 03
Full year 2020 earnings released: EPS ฿0.04 (vs ฿0.03 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: ฿533.7m (up 43% from FY 2019). Net income: ฿37.3m (up 35% from FY 2019). Profit margin: 7.0% (down from 7.4% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 04
New 90-day high: ฿0.77 The company is up 17% from its price of ฿0.66 on 06 October 2020. The Thai market is also up 17% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Oil and Gas industry, which is up 33% over the same period. Is New 90 Day High Low • Dec 16
New 90-day high: ฿0.70 The company is up 15% from its price of ฿0.61 on 17 September 2020. The Thai market is also up 15% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Oil and Gas industry, which is up 23% over the same period. Reported Earnings • Nov 11
Third quarter 2020 earnings released: EPS ฿0.007 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿135.9m (up 39% from 3Q 2019). Net income: ฿6.81m (up ฿8.24m from 3Q 2019). Profit margin: 5.0% (up from net loss in 3Q 2019). The move to profitability was driven by higher revenue. Is New 90 Day High Low • Oct 30
New 90-day low: ฿0.53 The company is down 26% from its price of ฿0.72 on 31 July 2020. The Thai market is down 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is down 18% over the same period. 
