View Future GrowthBuriram Sugar 과거 순이익 실적과거 기준 점검 2/6Buriram Sugar은 연평균 22.9%의 비율로 수입이 증가해 온 반면, Food 산업은 수입이 9% 증가했습니다. 매출은 연평균 10.9%의 비율로 증가했습니다. Buriram Sugar의 자기자본이익률은 7.2%이고 순이익률은 4.5%입니다.핵심 정보22.91%순이익 성장률22.94%주당순이익(EPS) 성장률Food 산업 성장률17.59%매출 성장률10.88%자기자본이익률7.20%순이익률4.53%최근 순이익 업데이트31 Dec 2025최근 과거 실적 업데이트Reported Earnings • Mar 02Full year 2025 earnings released: EPS: ฿0.34 (vs ฿1.27 in FY 2024)Full year 2025 results: EPS: ฿0.34 (down from ฿1.27 in FY 2024). Revenue: ฿6.14b (down 19% from FY 2024). Net income: ฿274.7m (down 73% from FY 2024). Profit margin: 4.5% (down from 14% in FY 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 17% per year, which means it is significantly lagging earnings.Reported Earnings • Nov 11Third quarter 2025 earnings released: ฿0.04 loss per share (vs ฿0.45 profit in 3Q 2024)Third quarter 2025 results: ฿0.04 loss per share (down from ฿0.45 profit in 3Q 2024). Revenue: ฿1.36b (down 25% from 3Q 2024). Net loss: ฿35.4m (down 110% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings.Reported Earnings • Aug 14Second quarter 2025 earnings released: EPS: ฿0.04 (vs ฿0.34 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.04 (down from ฿0.34 in 2Q 2024). Revenue: ฿1.60b (down 29% from 2Q 2024). Net income: ฿30.5m (down 89% from 2Q 2024). Profit margin: 1.9% (down from 12% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.Reported Earnings • May 16First quarter 2025 earnings released: EPS: ฿0.50 (vs ฿0.56 in 1Q 2024)First quarter 2025 results: EPS: ฿0.50 (down from ฿0.56 in 1Q 2024). Revenue: ฿2.42b (down 4.9% from 1Q 2024). Net income: ฿402.7m (down 11% from 1Q 2024). Profit margin: 17% (down from 18% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.Reported Earnings • Feb 25Full year 2024 earnings releasedFull year 2024 results: Revenue: ฿7.77b (up 28% from FY 2023). Net income: ฿1.03b (up 85% from FY 2023). Profit margin: 13% (up from 9.2% in FY 2023). The increase in margin was driven by higher revenue.Reported Earnings • Nov 20Third quarter 2024 earnings released: EPS: ฿0.45 (vs ฿0.08 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.45 (up from ฿0.08 in 3Q 2023). Revenue: ฿2.03b (up 59% from 3Q 2023). Net income: ฿362.7m (up 457% from 3Q 2023). Profit margin: 18% (up from 5.1% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.모든 업데이트 보기Recent updatesBuy Or Sell Opportunity • Apr 30Now 21% overvaluedOver the last 90 days, the stock has fallen 5.1% to ฿3.76. The fair value is estimated to be ฿3.12, however this is not to be taken as a sell recommendation but rather should be used as a guide only.Upcoming Dividend • Apr 29Upcoming dividend of ฿0.17 per shareEligible shareholders must have bought the stock before 06 May 2026. Payment date: 22 May 2026. Payout ratio is a comfortable 49% but the company is paying out more than the cash it is generating. Trailing yield: 4.4%. Lower than top quartile of Thai dividend payers (7.5%). Lower than average of industry peers (5.8%).Buy Or Sell Opportunity • Mar 30Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 5.5% to ฿3.82. The fair value is estimated to be ฿3.17, however this is not to be taken as a sell recommendation but rather should be used as a guide only.Buy Or Sell Opportunity • Mar 10Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 6.2% to ฿3.78. The fair value is estimated to be ฿3.13, however this is not to be taken as a sell recommendation but rather should be used as a guide only.Reported Earnings • Mar 02Full year 2025 earnings released: EPS: ฿0.34 (vs ฿1.27 in FY 2024)Full year 2025 results: EPS: ฿0.34 (down from ฿1.27 in FY 2024). Revenue: ฿6.14b (down 19% from FY 2024). Net income: ฿274.7m (down 73% from FY 2024). Profit margin: 4.5% (down from 14% in FY 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 17% per year, which means it is significantly lagging earnings.Declared Dividend • Mar 02Dividend reduced to ฿0.17Dividend of ฿0.17 is 67% lower than last year. Ex-date: 6th May 2026 Payment date: 22nd May 2026 Dividend yield will be 4.2%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is not covered by earnings (119% earnings payout ratio) nor is it covered by cash flows (335% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 32% to bring the payout ratio under control, which is less than the 114% EPS growth achieved over the last 5 years.공지 • Feb 27+ 1 more updateBuriram Sugar Public Company Limited announces Annual dividend, payable on May 22, 2026Buriram Sugar Public Company Limited announced Annual dividend of THB 0.1650 per share payable on May 22, 2026, ex-date on May 06, 2026 and record date on May 07, 2026.Reported Earnings • Nov 11Third quarter 2025 earnings released: ฿0.04 loss per share (vs ฿0.45 profit in 3Q 2024)Third quarter 2025 results: ฿0.04 loss per share (down from ฿0.45 profit in 3Q 2024). Revenue: ฿1.36b (down 25% from 3Q 2024). Net loss: ฿35.4m (down 110% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings.New Risk • Oct 22New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ฿3.26b (US$99.3m) This is considered a minor 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: Minor Risks High level of debt (112% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (฿3.26b market cap, or US$99.3m).Reported Earnings • Aug 14Second quarter 2025 earnings released: EPS: ฿0.04 (vs ฿0.34 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.04 (down from ฿0.34 in 2Q 2024). Revenue: ฿1.60b (down 29% from 2Q 2024). Net income: ฿30.5m (down 89% from 2Q 2024). Profit margin: 1.9% (down from 12% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.New Risk • Jun 23New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ฿3.28b (US$99.3m) This is considered a minor 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: Minor Risks High level of debt (97% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (฿3.28b market cap, or US$99.3m).Reported Earnings • May 16First quarter 2025 earnings released: EPS: ฿0.50 (vs ฿0.56 in 1Q 2024)First quarter 2025 results: EPS: ฿0.50 (down from ฿0.56 in 1Q 2024). Revenue: ฿2.42b (down 4.9% from 1Q 2024). Net income: ฿402.7m (down 11% from 1Q 2024). Profit margin: 17% (down from 18% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.Upcoming Dividend • Apr 29Upcoming dividend of ฿0.50 per shareEligible shareholders must have bought the stock before 06 May 2025. Payment date: 23 May 2025. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 11%. Within top quartile of Thai dividend payers (7.9%). Higher than average of industry peers (5.1%).공지 • Apr 25Buriram Sugar Public Company Limited Approves Annual Dividend for 2024, Payable on May 23, 2025The 2025 Annual General Meeting of Shareholders of Buriram Sugar Public Company Limited was held on April 24th, 2025, Due to the allocation of legal reserves and registered capital, which constitutes 10% of the financial statements of the specific business, a dividend will be paid from the net profits based on the consolidated financial statements for the operating results of 2024. The dividend is set at THB 0.50 per share, totaling THB 406,050,183, which represents a payout ratio of 40% of the company's net profits according to the consolidated financial statements. The company pays annual dividends of THB 0.50 per share, derived from profits that are subject to a corporate income tax rate of 20%. The total amount distributed in dividends is THB 406,050,183. The Record Date for shareholders eligible for dividends is May 7, 2025, with the payment of annual dividends scheduled for May 23, 2025.Declared Dividend • Feb 26Dividend increased to ฿0.50Dividend of ฿0.50 is 150% higher than last year. Ex-date: 6th May 2025 Payment date: 23rd May 2025 Dividend yield will be 11%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 58% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Reported Earnings • Feb 25Full year 2024 earnings releasedFull year 2024 results: Revenue: ฿7.77b (up 28% from FY 2023). Net income: ฿1.03b (up 85% from FY 2023). Profit margin: 13% (up from 9.2% in FY 2023). The increase in margin was driven by higher revenue.공지 • Feb 24+ 1 more updateBuriram Sugar Public Company Limited, Annual General Meeting, Apr 24, 2025Buriram Sugar Public Company Limited, Annual General Meeting, Apr 24, 2025, at 10:00 SE Asia Standard Time.New Risk • Jan 10New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ฿3.41b (US$98.6m) This is considered a minor 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: Minor Risks High level of debt (91% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (฿3.41b market cap, or US$98.6m).공지 • Dec 23Buriram Sugar Public Company Limited Announces Changes to Company SecretaryBuriram Sugar Public Company Limited announced that the Board of Directors' Meeting No. 10/2024, held on the 20 December 2024, has resolved to appoint Miss Natnicha Punyaniran as the Company Secretary, replacing Mr. Pitak Chaosoun, effective from December 20, 2024, onwards.Buy Or Sell Opportunity • Dec 16Now 21% undervaluedOver the last 90 days, the stock has risen 6.4% to ฿4.64. The fair value is estimated to be ฿5.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 38%.Reported Earnings • Nov 20Third quarter 2024 earnings released: EPS: ฿0.45 (vs ฿0.08 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.45 (up from ฿0.08 in 3Q 2023). Revenue: ฿2.03b (up 59% from 3Q 2023). Net income: ฿362.7m (up 457% from 3Q 2023). Profit margin: 18% (up from 5.1% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.New Risk • Nov 12New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ฿3.46b (US$99.3m) This is considered a minor 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 Risk Debt is not well covered by operating cash flow (0.6% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (฿3.46b market cap, or US$99.3m).공지 • Oct 04Buriram Sugar Public Company Limited Appoints Air Chief Marshal Saritpong Wattanavrangkul as Independent Director and Audit CommitteeBuriram Sugar Public Company Limited No. 4/2024 held on Friday 4th October 2024 has resolved to appoint Air Chief Marshal Saritpong Wattanavrangkul to be Independent Director and Audit Committee which is effective from October 4th, 2024 onward.공지 • Oct 01Buriram Sugar Public Company Limited Announces Changes of Chief AccountantBuriram Sugar Public Company Limited replaced Somyot Changyongsuwan to Krit Panmetanee for the position of Chief Accountant. Effective Date of Termination is 01 October 2024. Effective Date of Appointment 01 October 2024.Reported Earnings • Aug 15Second quarter 2024 earnings released: EPS: ฿0.34 (vs ฿0.039 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.34 (up from ฿0.039 in 2Q 2023). Revenue: ฿2.30b (up 61% from 2Q 2023). Net income: ฿275.6m (up ฿243.9m from 2Q 2023). Profit margin: 12% (up from 2.2% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.공지 • Jul 31Korach Industry Company Limited agreed to acquire Chamni Sugar Factory Co., Ltd from Buriram Sugar Public Company Limited (SET:BRR), Anant Tangtongwechakit, Jirawan Pongpichitkul, Chittima Tangtrongwechakit, Sarit Tangtrongwechakij and Adisak Tangtrongweachakit for approximately THB 250 million.Korach Industry Company Limited agreed to acquire Chamni Sugar Factory Co., Ltd from Buriram Sugar Public Company Limited (SET:BRR), Anant Tangtongwechakit, Jirawan Pongpichitkul, Chittima Tangtrongwechakit, Sarit Tangtrongwechakij and Adisak Tangtrongweachakit for approximately THB 250 million on July 30, 2024. Buriram Sugar Public Company Limited holds 99.9997% stake while Anant Tangtongwechakit, Jirawan Pongpichitkul, Chittima Tangtrongwechakit, Sarit Tangtrongwechakij and Adisak Tangtrongweachakit hold 0.0003% stake in Chamni Sugar Factory Co., Ltd. A cash consideration of THB 252.18 million will be paid by Korach Industry Company Limited. As part of the deal, 1.86 million shares of Chamni Sugar Factory Co., Ltd will be acquired. The transaction has been approved by the Board of Directors of Buriram Sugar Public Company Limited. The deal is expected to be completed by 2024.공지 • Jul 30Buriram Sugar Public Company Limited Announces Resignation of Porntip Sookatup DirectorBuriram Sugar Public Company Limited board of director meeting held on 30th July 2024, acknowledged the resignation of Mrs. Porntip Sookatup, an independent director and audit committee member, due to personal commitments. The resignation is effective from July 30th 2024, onwards.New Risk • Jun 19New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ฿3.65b (US$99.5m) This is considered a minor 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 Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (฿3.65b market cap, or US$99.5m).Reported Earnings • May 12First quarter 2024 earnings released: EPS: ฿0.56 (vs ฿0.42 in 1Q 2023)First quarter 2024 results: EPS: ฿0.56 (up from ฿0.42 in 1Q 2023). Revenue: ฿2.63b (up 3.2% from 1Q 2023). Net income: ฿454.0m (up 34% from 1Q 2023). Profit margin: 17% (up from 13% in 1Q 2023). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.Upcoming Dividend • Apr 25Upcoming dividend of ฿0.20 per shareEligible shareholders must have bought the stock before 02 May 2024. Payment date: 21 May 2024. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Thai dividend payers (6.0%). Higher than average of industry peers (3.4%).공지 • Apr 23Buriram Sugar Public Company Limited Approves Dividend for the Year Ended December 31, 2023, Payable on May 21, 2024Buriram Sugar Public Company Limited at the AGM held on April 22, 2024 approved the dividend payment from the operating results for the year ended December 31, 2023 and the appropriation of the net profit as the legal reserve to the shareholders at the rate of THB 0.20 per share, totaling THB 162,420,073.20 or equivalent to 30% of the net profit of the consolidated financial statements, which is not in compliance with the Company's dividend payment policy since the Company aimed to use as the working capital in business operations and invest so the Company agreed to reserve the working capital for support this matter. The dividend payment detail is as follows; The annual dividend payment is at the rate of THB 0.20 per share from the dividend payment drawn from the Company's earnings is subject to 20% of the corporate income tax at the rate of THB 0.20 per share. Thus, the total dividend payment is THB 162,420,073.20. Hence, the record date of the share register book for the right to receive dividends on May 3, 2024 and the annual dividend payment shall be made on May 21, 2024.Buy Or Sell Opportunity • Mar 11Now 22% overvaluedThe stock has been flat over the last 90 days, currently trading at ฿4.38. The fair value is estimated to be ฿3.60, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 45%.Declared Dividend • Mar 01Dividend of ฿0.20 announcedShareholders will receive a dividend of ฿0.20. Ex-date: 2nd May 2024 Payment date: 21st May 2024 Dividend yield will be 4.7%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased by an average of 2.0% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.공지 • Feb 29Buriram Sugar Public Company Limited, Annual General Meeting, Apr 22, 2024Buriram Sugar Public Company Limited, Annual General Meeting, Apr 22, 2024, at 13:30 SE Asia Standard Time. Agenda: To certify the Minutes of the Annual General Meeting of Shareholders No.1/2023 held on April 27, 2023; To acknowledge the report on the Company's operating results for the year 2023; To certify and approve the audited financial statements for the year ended on December 31, 2023; To consider and approve the dividend payment from the Company's operating results for the fiscal year ended December 31, 2023 and the allocation of net profit as a legal reserve.Reported Earnings • Feb 29Full year 2023 earnings released: EPS: ฿0.69 (vs ฿0.94 in FY 2022)Full year 2023 results: EPS: ฿0.69 (down from ฿0.94 in FY 2022). Revenue: ฿6.30b (down 14% from FY 2022). Net income: ฿557.7m (down 27% from FY 2022). Profit margin: 8.9% (down from 10% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.Buy Or Sell Opportunity • Feb 22Now 20% overvaluedOver the last 90 days, the stock has fallen 15% to ฿4.34. The fair value is estimated to be ฿3.60, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Meanwhile, the company has become profitable.Buy Or Sell Opportunity • Feb 19Now 21% overvaluedOver the last 90 days, the stock has fallen 16% to ฿4.36. The fair value is estimated to be ฿3.60, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Meanwhile, the company has become profitable.New Risk • Feb 12New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ฿3.54b (US$98.7m) This is considered a minor 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 Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.7% net profit margin). Market cap is less than US$100m (฿3.54b market cap, or US$98.7m).New Risk • Dec 12New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ฿3.52b (US$98.8m) This is considered a minor 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 Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.7% net profit margin). Market cap is less than US$100m (฿3.52b market cap, or US$98.8m).New Risk • Nov 17New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.7% net profit margin).Reported Earnings • Aug 12Second quarter 2023 earnings released: EPS: ฿0.04 (vs ฿0.37 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.04 (down from ฿0.37 in 2Q 2022). Revenue: ฿1.46b (down 49% from 2Q 2022). Net income: ฿31.7m (down 89% from 2Q 2022). Profit margin: 2.2% (down from 11% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth.공지 • Aug 12Buriram Sugar Public Company Limited Announces Executive Changes, Effective from August 21, 2023The Board of Directors' Meeting of Buriram Sugar Public Company Limited, held on August 11, 2023 has resolved to appoint Mr. Pitak Chaosoun Deputy Managing Director in Operation as a Company Secretary (replaced Ms. Patcharee Kosanam), which is effective from August 21, 2023 onward.Reported Earnings • May 13First quarter 2023 earnings released: EPS: ฿0.42 (vs ฿0.52 in 1Q 2022)First quarter 2023 results: EPS: ฿0.42 (down from ฿0.52 in 1Q 2022). Revenue: ฿2.59b (up 17% from 1Q 2022). Net income: ฿338.8m (down 20% from 1Q 2022). Profit margin: 13% (down from 19% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • May 06Upcoming dividend of ฿0.20 per share at 2.9% yieldEligible shareholders must have bought the stock before 12 May 2023. Payment date: 25 May 2023. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Thai dividend payers (6.2%). Lower than average of industry peers (4.1%).Valuation Update With 7 Day Price Move • Jan 03Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to ฿7.75, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 15x in the Food industry in Thailand. Total returns to shareholders of 101% over the past three years.Valuation Update With 7 Day Price Move • Dec 20Investor sentiment improved over the past weekAfter last week's 17% share price gain to ฿8.35, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 15x in the Food industry in Thailand. Total returns to shareholders of 116% over the past three years.Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 1 experienced director. 8 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Porntip Sookatup was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Valuation Update With 7 Day Price Move • Oct 05Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to ฿7.65, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 18x in the Food industry in Thailand. Total returns to shareholders of 70% over the past three years.Valuation Update With 7 Day Price Move • Sep 15Investor sentiment improved over the past weekAfter last week's 21% share price gain to ฿9.70, the stock trades at a trailing P/E ratio of 12.7x. Average trailing P/E is 19x in the Food industry in Thailand. Total returns to shareholders of 101% over the past three years.Valuation Update With 7 Day Price Move • Aug 22Investor sentiment improved over the past weekAfter last week's 20% share price gain to ฿6.65, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 18x in the Food industry in Thailand. Total returns to shareholders of 28% over the past three years.Reported Earnings • Aug 13Second quarter 2022 earnings released: EPS: ฿0.37 (vs ฿0.056 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.37 (up from ฿0.056 in 2Q 2021). Revenue: ฿2.85b (up 166% from 2Q 2021). Net income: ฿297.9m (up ฿252.6m from 2Q 2021). Profit margin: 11% (up from 4.2% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.Reported Earnings • May 14First quarter 2022 earnings released: EPS: ฿0.52 (vs ฿0.23 in 1Q 2021)First quarter 2022 results: EPS: ฿0.52 (up from ฿0.23 in 1Q 2021). Revenue: ฿2.30b (up 135% from 1Q 2021). Net income: ฿423.5m (up 128% from 1Q 2021). Profit margin: 18% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.Upcoming Dividend • May 03Upcoming dividend of ฿0.07 per shareEligible shareholders must have bought the stock before 10 May 2022. Payment date: 26 May 2022. Payout ratio is a comfortable 44% but the company is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of Thai dividend payers (5.1%). Lower than average of industry peers (3.2%).Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 7 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Porntip Sookatup was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Reported Earnings • Feb 27Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: ฿0.16 (up from ฿0.008 in FY 2020). Revenue: ฿3.79b (down 2.7% from FY 2020). Net income: ฿129.3m (up ฿123.2m from FY 2020). Profit margin: 3.4% (up from 0.2% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. 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 8% per year, which means it is significantly lagging earnings.Reported Earnings • Nov 15Third quarter 2021 earnings released: ฿0.15 loss per share (vs ฿0.076 profit in 3Q 2020)The company reported a soft third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: ฿924.5m (up 11% from 3Q 2020). Net loss: ฿118.5m (down 292% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.Reported Earnings • Aug 18Second quarter 2021 earnings released: EPS ฿0.056 (vs ฿0.042 loss in 2Q 2020)The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: ฿1.07b (down 37% from 2Q 2020). Net income: ฿45.3m (up ฿79.1m from 2Q 2020). Profit margin: 4.2% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.Reported Earnings • May 15First quarter 2021 earnings released: EPS ฿0.23 (vs ฿0.037 in 1Q 2020)The company reported a decent first quarter result with improved earnings and profit margins, although revenues were flat. First quarter 2021 results: Revenue: ฿975.3m (flat on 1Q 2020). Net income: ฿185.7m (up ฿155.3m from 1Q 2020). Profit margin: 19% (up from 3.1% in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance.Upcoming Dividend • May 06Upcoming dividend of ฿0.06 per shareEligible shareholders must have bought the stock before 13 May 2021. Payment date: 28 May 2021. Trailing yield: 0.9%. Lower than top quartile of Thai dividend payers (4.9%). Lower than average of industry peers (3.5%).Reported Earnings • Feb 25Full year 2020 earnings released: EPS ฿0.008 (vs ฿0.63 loss in FY 2019)The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ฿3.89b (down 22% from FY 2019). Net income: ฿6.14m (up ฿517.8m from FY 2019). Profit margin: 0.2% (up from net loss in FY 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance.Is New 90 Day High Low • Jan 05New 90-day high: ฿3.26The company is up 12% from its price of ฿2.92 on 07 October 2020. The Thai market is up 16% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Food industry, which is flat over the same period.Is New 90 Day High Low • Sep 18New 90-day low: ฿2.64The company is down 13% from its price of ฿3.04 on 19 June 2020. The Thai market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is flat over the same period.매출 및 비용 세부 내역Buriram Sugar가 돈을 벌고 사용하는 방법. 최근 발표된 LTM 실적 기준.순이익 및 매출 추이SET:BRR 매출, 비용 및 순이익 (THB Millions)날짜매출순이익일반관리비연구개발비31 Dec 256,062275660030 Sep 256,195340693030 Jun 256,645738693031 Mar 257,361983685031 Dec 247,5971,034665030 Sep 247,5001,214604030 Jun 246,974917589031 Mar 246,066673562031 Dec 236,069558571030 Sep 235,936278607030 Jun 236,289416619031 Mar 237,688683674031 Dec 227,353767670030 Sep 227,495941618030 Jun 226,786620600031 Mar 225,025367510031 Dec 213,788129453030 Sep 213,35160361030 Jun 213,260241348031 Mar 213,891161396031 Dec 203,8936405030 Sep 204,515-374628030 Jun 205,484-540718031 Mar 204,921-548751031 Dec 194,985-512804030 Sep 195,243-5699030 Jun 194,2718655031 Mar 195,288177689031 Dec 185,556272710030 Sep 184,933141727030 Jun 185,082150712031 Mar 184,890289628031 Dec 175,740525605030 Sep 175,964429577030 Jun 176,025611573031 Mar 175,258387572031 Dec 164,579113548030 Sep 164,463268526030 Jun 164,205161516031 Mar 164,319255511031 Dec 154,227272523030 Sep 154,221360536030 Jun 154,1034025080양질의 수익: BRR는 고품질 수익을 보유하고 있습니다.이익 마진 증가: BRR의 현재 순 이익률 (4.5%)은 지난해 (13.6%)보다 낮습니다.잉여현금흐름 대비 순이익 분석과거 순이익 성장 분석수익추이: BRR의 수익은 지난 5년 동안 연평균 22.9%로 크게 증가했습니다.성장 가속화: BRR은 지난 1년 동안 수익이 감소하여 5년 평균과 비교할 수 없습니다.수익 대 산업: BRR은 지난 1년 동안 수익이 감소(-73.4%)하여 Food 업계 평균(1.6%)과 비교하기 어렵습니다.자기자본이익률높은 ROE: BRR의 자본 수익률(7.2%)은 낮음으로 평가됩니다.총자산이익률투하자본수익률우수한 과거 실적 기업을 찾아보세요7D1Y7D1Y7D1YFood-beverage-tobacco 산업에서 과거 실적이 우수한 기업.View Financial Health기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/12 18:08종가2026/05/12 00:00수익2025/12/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Buriram Sugar Public Company Limited는 1명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Prasit SujiravorakulBualuang Securities PCL
Reported Earnings • Mar 02Full year 2025 earnings released: EPS: ฿0.34 (vs ฿1.27 in FY 2024)Full year 2025 results: EPS: ฿0.34 (down from ฿1.27 in FY 2024). Revenue: ฿6.14b (down 19% from FY 2024). Net income: ฿274.7m (down 73% from FY 2024). Profit margin: 4.5% (down from 14% in FY 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 17% per year, which means it is significantly lagging earnings.
Reported Earnings • Nov 11Third quarter 2025 earnings released: ฿0.04 loss per share (vs ฿0.45 profit in 3Q 2024)Third quarter 2025 results: ฿0.04 loss per share (down from ฿0.45 profit in 3Q 2024). Revenue: ฿1.36b (down 25% from 3Q 2024). Net loss: ฿35.4m (down 110% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings.
Reported Earnings • Aug 14Second quarter 2025 earnings released: EPS: ฿0.04 (vs ฿0.34 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.04 (down from ฿0.34 in 2Q 2024). Revenue: ฿1.60b (down 29% from 2Q 2024). Net income: ฿30.5m (down 89% from 2Q 2024). Profit margin: 1.9% (down from 12% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.
Reported Earnings • May 16First quarter 2025 earnings released: EPS: ฿0.50 (vs ฿0.56 in 1Q 2024)First quarter 2025 results: EPS: ฿0.50 (down from ฿0.56 in 1Q 2024). Revenue: ฿2.42b (down 4.9% from 1Q 2024). Net income: ฿402.7m (down 11% from 1Q 2024). Profit margin: 17% (down from 18% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.
Reported Earnings • Feb 25Full year 2024 earnings releasedFull year 2024 results: Revenue: ฿7.77b (up 28% from FY 2023). Net income: ฿1.03b (up 85% from FY 2023). Profit margin: 13% (up from 9.2% in FY 2023). The increase in margin was driven by higher revenue.
Reported Earnings • Nov 20Third quarter 2024 earnings released: EPS: ฿0.45 (vs ฿0.08 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.45 (up from ฿0.08 in 3Q 2023). Revenue: ฿2.03b (up 59% from 3Q 2023). Net income: ฿362.7m (up 457% from 3Q 2023). Profit margin: 18% (up from 5.1% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.
Buy Or Sell Opportunity • Apr 30Now 21% overvaluedOver the last 90 days, the stock has fallen 5.1% to ฿3.76. The fair value is estimated to be ฿3.12, however this is not to be taken as a sell recommendation but rather should be used as a guide only.
Upcoming Dividend • Apr 29Upcoming dividend of ฿0.17 per shareEligible shareholders must have bought the stock before 06 May 2026. Payment date: 22 May 2026. Payout ratio is a comfortable 49% but the company is paying out more than the cash it is generating. Trailing yield: 4.4%. Lower than top quartile of Thai dividend payers (7.5%). Lower than average of industry peers (5.8%).
Buy Or Sell Opportunity • Mar 30Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 5.5% to ฿3.82. The fair value is estimated to be ฿3.17, however this is not to be taken as a sell recommendation but rather should be used as a guide only.
Buy Or Sell Opportunity • Mar 10Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 6.2% to ฿3.78. The fair value is estimated to be ฿3.13, however this is not to be taken as a sell recommendation but rather should be used as a guide only.
Reported Earnings • Mar 02Full year 2025 earnings released: EPS: ฿0.34 (vs ฿1.27 in FY 2024)Full year 2025 results: EPS: ฿0.34 (down from ฿1.27 in FY 2024). Revenue: ฿6.14b (down 19% from FY 2024). Net income: ฿274.7m (down 73% from FY 2024). Profit margin: 4.5% (down from 14% in FY 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 17% per year, which means it is significantly lagging earnings.
Declared Dividend • Mar 02Dividend reduced to ฿0.17Dividend of ฿0.17 is 67% lower than last year. Ex-date: 6th May 2026 Payment date: 22nd May 2026 Dividend yield will be 4.2%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is not covered by earnings (119% earnings payout ratio) nor is it covered by cash flows (335% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 32% to bring the payout ratio under control, which is less than the 114% EPS growth achieved over the last 5 years.
공지 • Feb 27+ 1 more updateBuriram Sugar Public Company Limited announces Annual dividend, payable on May 22, 2026Buriram Sugar Public Company Limited announced Annual dividend of THB 0.1650 per share payable on May 22, 2026, ex-date on May 06, 2026 and record date on May 07, 2026.
Reported Earnings • Nov 11Third quarter 2025 earnings released: ฿0.04 loss per share (vs ฿0.45 profit in 3Q 2024)Third quarter 2025 results: ฿0.04 loss per share (down from ฿0.45 profit in 3Q 2024). Revenue: ฿1.36b (down 25% from 3Q 2024). Net loss: ฿35.4m (down 110% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings.
New Risk • Oct 22New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ฿3.26b (US$99.3m) This is considered a minor 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: Minor Risks High level of debt (112% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (฿3.26b market cap, or US$99.3m).
Reported Earnings • Aug 14Second quarter 2025 earnings released: EPS: ฿0.04 (vs ฿0.34 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.04 (down from ฿0.34 in 2Q 2024). Revenue: ฿1.60b (down 29% from 2Q 2024). Net income: ฿30.5m (down 89% from 2Q 2024). Profit margin: 1.9% (down from 12% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.
New Risk • Jun 23New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ฿3.28b (US$99.3m) This is considered a minor 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: Minor Risks High level of debt (97% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (฿3.28b market cap, or US$99.3m).
Reported Earnings • May 16First quarter 2025 earnings released: EPS: ฿0.50 (vs ฿0.56 in 1Q 2024)First quarter 2025 results: EPS: ฿0.50 (down from ฿0.56 in 1Q 2024). Revenue: ฿2.42b (down 4.9% from 1Q 2024). Net income: ฿402.7m (down 11% from 1Q 2024). Profit margin: 17% (down from 18% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Apr 29Upcoming dividend of ฿0.50 per shareEligible shareholders must have bought the stock before 06 May 2025. Payment date: 23 May 2025. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 11%. Within top quartile of Thai dividend payers (7.9%). Higher than average of industry peers (5.1%).
공지 • Apr 25Buriram Sugar Public Company Limited Approves Annual Dividend for 2024, Payable on May 23, 2025The 2025 Annual General Meeting of Shareholders of Buriram Sugar Public Company Limited was held on April 24th, 2025, Due to the allocation of legal reserves and registered capital, which constitutes 10% of the financial statements of the specific business, a dividend will be paid from the net profits based on the consolidated financial statements for the operating results of 2024. The dividend is set at THB 0.50 per share, totaling THB 406,050,183, which represents a payout ratio of 40% of the company's net profits according to the consolidated financial statements. The company pays annual dividends of THB 0.50 per share, derived from profits that are subject to a corporate income tax rate of 20%. The total amount distributed in dividends is THB 406,050,183. The Record Date for shareholders eligible for dividends is May 7, 2025, with the payment of annual dividends scheduled for May 23, 2025.
Declared Dividend • Feb 26Dividend increased to ฿0.50Dividend of ฿0.50 is 150% higher than last year. Ex-date: 6th May 2025 Payment date: 23rd May 2025 Dividend yield will be 11%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 58% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Reported Earnings • Feb 25Full year 2024 earnings releasedFull year 2024 results: Revenue: ฿7.77b (up 28% from FY 2023). Net income: ฿1.03b (up 85% from FY 2023). Profit margin: 13% (up from 9.2% in FY 2023). The increase in margin was driven by higher revenue.
공지 • Feb 24+ 1 more updateBuriram Sugar Public Company Limited, Annual General Meeting, Apr 24, 2025Buriram Sugar Public Company Limited, Annual General Meeting, Apr 24, 2025, at 10:00 SE Asia Standard Time.
New Risk • Jan 10New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ฿3.41b (US$98.6m) This is considered a minor 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: Minor Risks High level of debt (91% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (฿3.41b market cap, or US$98.6m).
공지 • Dec 23Buriram Sugar Public Company Limited Announces Changes to Company SecretaryBuriram Sugar Public Company Limited announced that the Board of Directors' Meeting No. 10/2024, held on the 20 December 2024, has resolved to appoint Miss Natnicha Punyaniran as the Company Secretary, replacing Mr. Pitak Chaosoun, effective from December 20, 2024, onwards.
Buy Or Sell Opportunity • Dec 16Now 21% undervaluedOver the last 90 days, the stock has risen 6.4% to ฿4.64. The fair value is estimated to be ฿5.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 38%.
Reported Earnings • Nov 20Third quarter 2024 earnings released: EPS: ฿0.45 (vs ฿0.08 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.45 (up from ฿0.08 in 3Q 2023). Revenue: ฿2.03b (up 59% from 3Q 2023). Net income: ฿362.7m (up 457% from 3Q 2023). Profit margin: 18% (up from 5.1% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.
New Risk • Nov 12New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ฿3.46b (US$99.3m) This is considered a minor 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 Risk Debt is not well covered by operating cash flow (0.6% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (฿3.46b market cap, or US$99.3m).
공지 • Oct 04Buriram Sugar Public Company Limited Appoints Air Chief Marshal Saritpong Wattanavrangkul as Independent Director and Audit CommitteeBuriram Sugar Public Company Limited No. 4/2024 held on Friday 4th October 2024 has resolved to appoint Air Chief Marshal Saritpong Wattanavrangkul to be Independent Director and Audit Committee which is effective from October 4th, 2024 onward.
공지 • Oct 01Buriram Sugar Public Company Limited Announces Changes of Chief AccountantBuriram Sugar Public Company Limited replaced Somyot Changyongsuwan to Krit Panmetanee for the position of Chief Accountant. Effective Date of Termination is 01 October 2024. Effective Date of Appointment 01 October 2024.
Reported Earnings • Aug 15Second quarter 2024 earnings released: EPS: ฿0.34 (vs ฿0.039 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.34 (up from ฿0.039 in 2Q 2023). Revenue: ฿2.30b (up 61% from 2Q 2023). Net income: ฿275.6m (up ฿243.9m from 2Q 2023). Profit margin: 12% (up from 2.2% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
공지 • Jul 31Korach Industry Company Limited agreed to acquire Chamni Sugar Factory Co., Ltd from Buriram Sugar Public Company Limited (SET:BRR), Anant Tangtongwechakit, Jirawan Pongpichitkul, Chittima Tangtrongwechakit, Sarit Tangtrongwechakij and Adisak Tangtrongweachakit for approximately THB 250 million.Korach Industry Company Limited agreed to acquire Chamni Sugar Factory Co., Ltd from Buriram Sugar Public Company Limited (SET:BRR), Anant Tangtongwechakit, Jirawan Pongpichitkul, Chittima Tangtrongwechakit, Sarit Tangtrongwechakij and Adisak Tangtrongweachakit for approximately THB 250 million on July 30, 2024. Buriram Sugar Public Company Limited holds 99.9997% stake while Anant Tangtongwechakit, Jirawan Pongpichitkul, Chittima Tangtrongwechakit, Sarit Tangtrongwechakij and Adisak Tangtrongweachakit hold 0.0003% stake in Chamni Sugar Factory Co., Ltd. A cash consideration of THB 252.18 million will be paid by Korach Industry Company Limited. As part of the deal, 1.86 million shares of Chamni Sugar Factory Co., Ltd will be acquired. The transaction has been approved by the Board of Directors of Buriram Sugar Public Company Limited. The deal is expected to be completed by 2024.
공지 • Jul 30Buriram Sugar Public Company Limited Announces Resignation of Porntip Sookatup DirectorBuriram Sugar Public Company Limited board of director meeting held on 30th July 2024, acknowledged the resignation of Mrs. Porntip Sookatup, an independent director and audit committee member, due to personal commitments. The resignation is effective from July 30th 2024, onwards.
New Risk • Jun 19New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ฿3.65b (US$99.5m) This is considered a minor 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 Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (฿3.65b market cap, or US$99.5m).
Reported Earnings • May 12First quarter 2024 earnings released: EPS: ฿0.56 (vs ฿0.42 in 1Q 2023)First quarter 2024 results: EPS: ฿0.56 (up from ฿0.42 in 1Q 2023). Revenue: ฿2.63b (up 3.2% from 1Q 2023). Net income: ฿454.0m (up 34% from 1Q 2023). Profit margin: 17% (up from 13% in 1Q 2023). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Apr 25Upcoming dividend of ฿0.20 per shareEligible shareholders must have bought the stock before 02 May 2024. Payment date: 21 May 2024. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Thai dividend payers (6.0%). Higher than average of industry peers (3.4%).
공지 • Apr 23Buriram Sugar Public Company Limited Approves Dividend for the Year Ended December 31, 2023, Payable on May 21, 2024Buriram Sugar Public Company Limited at the AGM held on April 22, 2024 approved the dividend payment from the operating results for the year ended December 31, 2023 and the appropriation of the net profit as the legal reserve to the shareholders at the rate of THB 0.20 per share, totaling THB 162,420,073.20 or equivalent to 30% of the net profit of the consolidated financial statements, which is not in compliance with the Company's dividend payment policy since the Company aimed to use as the working capital in business operations and invest so the Company agreed to reserve the working capital for support this matter. The dividend payment detail is as follows; The annual dividend payment is at the rate of THB 0.20 per share from the dividend payment drawn from the Company's earnings is subject to 20% of the corporate income tax at the rate of THB 0.20 per share. Thus, the total dividend payment is THB 162,420,073.20. Hence, the record date of the share register book for the right to receive dividends on May 3, 2024 and the annual dividend payment shall be made on May 21, 2024.
Buy Or Sell Opportunity • Mar 11Now 22% overvaluedThe stock has been flat over the last 90 days, currently trading at ฿4.38. The fair value is estimated to be ฿3.60, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 45%.
Declared Dividend • Mar 01Dividend of ฿0.20 announcedShareholders will receive a dividend of ฿0.20. Ex-date: 2nd May 2024 Payment date: 21st May 2024 Dividend yield will be 4.7%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased by an average of 2.0% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
공지 • Feb 29Buriram Sugar Public Company Limited, Annual General Meeting, Apr 22, 2024Buriram Sugar Public Company Limited, Annual General Meeting, Apr 22, 2024, at 13:30 SE Asia Standard Time. Agenda: To certify the Minutes of the Annual General Meeting of Shareholders No.1/2023 held on April 27, 2023; To acknowledge the report on the Company's operating results for the year 2023; To certify and approve the audited financial statements for the year ended on December 31, 2023; To consider and approve the dividend payment from the Company's operating results for the fiscal year ended December 31, 2023 and the allocation of net profit as a legal reserve.
Reported Earnings • Feb 29Full year 2023 earnings released: EPS: ฿0.69 (vs ฿0.94 in FY 2022)Full year 2023 results: EPS: ฿0.69 (down from ฿0.94 in FY 2022). Revenue: ฿6.30b (down 14% from FY 2022). Net income: ฿557.7m (down 27% from FY 2022). Profit margin: 8.9% (down from 10% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
Buy Or Sell Opportunity • Feb 22Now 20% overvaluedOver the last 90 days, the stock has fallen 15% to ฿4.34. The fair value is estimated to be ฿3.60, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Meanwhile, the company has become profitable.
Buy Or Sell Opportunity • Feb 19Now 21% overvaluedOver the last 90 days, the stock has fallen 16% to ฿4.36. The fair value is estimated to be ฿3.60, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Meanwhile, the company has become profitable.
New Risk • Feb 12New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ฿3.54b (US$98.7m) This is considered a minor 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 Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.7% net profit margin). Market cap is less than US$100m (฿3.54b market cap, or US$98.7m).
New Risk • Dec 12New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ฿3.52b (US$98.8m) This is considered a minor 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 Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.7% net profit margin). Market cap is less than US$100m (฿3.52b market cap, or US$98.8m).
New Risk • Nov 17New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.7% net profit margin).
Reported Earnings • Aug 12Second quarter 2023 earnings released: EPS: ฿0.04 (vs ฿0.37 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.04 (down from ฿0.37 in 2Q 2022). Revenue: ฿1.46b (down 49% from 2Q 2022). Net income: ฿31.7m (down 89% from 2Q 2022). Profit margin: 2.2% (down from 11% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth.
공지 • Aug 12Buriram Sugar Public Company Limited Announces Executive Changes, Effective from August 21, 2023The Board of Directors' Meeting of Buriram Sugar Public Company Limited, held on August 11, 2023 has resolved to appoint Mr. Pitak Chaosoun Deputy Managing Director in Operation as a Company Secretary (replaced Ms. Patcharee Kosanam), which is effective from August 21, 2023 onward.
Reported Earnings • May 13First quarter 2023 earnings released: EPS: ฿0.42 (vs ฿0.52 in 1Q 2022)First quarter 2023 results: EPS: ฿0.42 (down from ฿0.52 in 1Q 2022). Revenue: ฿2.59b (up 17% from 1Q 2022). Net income: ฿338.8m (down 20% from 1Q 2022). Profit margin: 13% (down from 19% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • May 06Upcoming dividend of ฿0.20 per share at 2.9% yieldEligible shareholders must have bought the stock before 12 May 2023. Payment date: 25 May 2023. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Thai dividend payers (6.2%). Lower than average of industry peers (4.1%).
Valuation Update With 7 Day Price Move • Jan 03Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to ฿7.75, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 15x in the Food industry in Thailand. Total returns to shareholders of 101% over the past three years.
Valuation Update With 7 Day Price Move • Dec 20Investor sentiment improved over the past weekAfter last week's 17% share price gain to ฿8.35, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 15x in the Food industry in Thailand. Total returns to shareholders of 116% over the past three years.
Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 1 experienced director. 8 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Porntip Sookatup was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Valuation Update With 7 Day Price Move • Oct 05Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to ฿7.65, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 18x in the Food industry in Thailand. Total returns to shareholders of 70% over the past three years.
Valuation Update With 7 Day Price Move • Sep 15Investor sentiment improved over the past weekAfter last week's 21% share price gain to ฿9.70, the stock trades at a trailing P/E ratio of 12.7x. Average trailing P/E is 19x in the Food industry in Thailand. Total returns to shareholders of 101% over the past three years.
Valuation Update With 7 Day Price Move • Aug 22Investor sentiment improved over the past weekAfter last week's 20% share price gain to ฿6.65, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 18x in the Food industry in Thailand. Total returns to shareholders of 28% over the past three years.
Reported Earnings • Aug 13Second quarter 2022 earnings released: EPS: ฿0.37 (vs ฿0.056 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.37 (up from ฿0.056 in 2Q 2021). Revenue: ฿2.85b (up 166% from 2Q 2021). Net income: ฿297.9m (up ฿252.6m from 2Q 2021). Profit margin: 11% (up from 4.2% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
Reported Earnings • May 14First quarter 2022 earnings released: EPS: ฿0.52 (vs ฿0.23 in 1Q 2021)First quarter 2022 results: EPS: ฿0.52 (up from ฿0.23 in 1Q 2021). Revenue: ฿2.30b (up 135% from 1Q 2021). Net income: ฿423.5m (up 128% from 1Q 2021). Profit margin: 18% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.
Upcoming Dividend • May 03Upcoming dividend of ฿0.07 per shareEligible shareholders must have bought the stock before 10 May 2022. Payment date: 26 May 2022. Payout ratio is a comfortable 44% but the company is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of Thai dividend payers (5.1%). Lower than average of industry peers (3.2%).
Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 7 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Porntip Sookatup was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Reported Earnings • Feb 27Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: ฿0.16 (up from ฿0.008 in FY 2020). Revenue: ฿3.79b (down 2.7% from FY 2020). Net income: ฿129.3m (up ฿123.2m from FY 2020). Profit margin: 3.4% (up from 0.2% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. 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 8% per year, which means it is significantly lagging earnings.
Reported Earnings • Nov 15Third quarter 2021 earnings released: ฿0.15 loss per share (vs ฿0.076 profit in 3Q 2020)The company reported a soft third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: ฿924.5m (up 11% from 3Q 2020). Net loss: ฿118.5m (down 292% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.
Reported Earnings • Aug 18Second quarter 2021 earnings released: EPS ฿0.056 (vs ฿0.042 loss in 2Q 2020)The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: ฿1.07b (down 37% from 2Q 2020). Net income: ฿45.3m (up ฿79.1m from 2Q 2020). Profit margin: 4.2% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.
Reported Earnings • May 15First quarter 2021 earnings released: EPS ฿0.23 (vs ฿0.037 in 1Q 2020)The company reported a decent first quarter result with improved earnings and profit margins, although revenues were flat. First quarter 2021 results: Revenue: ฿975.3m (flat on 1Q 2020). Net income: ฿185.7m (up ฿155.3m from 1Q 2020). Profit margin: 19% (up from 3.1% in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance.
Upcoming Dividend • May 06Upcoming dividend of ฿0.06 per shareEligible shareholders must have bought the stock before 13 May 2021. Payment date: 28 May 2021. Trailing yield: 0.9%. Lower than top quartile of Thai dividend payers (4.9%). Lower than average of industry peers (3.5%).
Reported Earnings • Feb 25Full year 2020 earnings released: EPS ฿0.008 (vs ฿0.63 loss in FY 2019)The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ฿3.89b (down 22% from FY 2019). Net income: ฿6.14m (up ฿517.8m from FY 2019). Profit margin: 0.2% (up from net loss in FY 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance.
Is New 90 Day High Low • Jan 05New 90-day high: ฿3.26The company is up 12% from its price of ฿2.92 on 07 October 2020. The Thai market is up 16% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Food industry, which is flat over the same period.
Is New 90 Day High Low • Sep 18New 90-day low: ฿2.64The company is down 13% from its price of ฿3.04 on 19 June 2020. The Thai market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is flat over the same period.