View Future GrowthA.J. Plast 과거 순이익 실적과거 기준 점검 0/6A.J. Plast 의 수입은 연평균 -62.7%의 비율로 감소해 온 반면, Packaging 산업은 연평균 5.5%의 비율로 증가했습니다. 매출은 연평균 2.9%의 비율로 감소해 왔습니다.핵심 정보-62.72%순이익 성장률-60.86%주당순이익(EPS) 성장률Packaging 산업 성장률0.64%매출 성장률-2.86%자기자본이익률-16.38%순이익률-8.57%최근 순이익 업데이트31 Mar 2026최근 과거 실적 업데이트Reported Earnings • 15hFirst quarter 2026 earnings released: ฿0.17 loss per share (vs ฿0.028 loss in 1Q 2025)First quarter 2026 results: ฿0.17 loss per share (further deteriorated from ฿0.028 loss in 1Q 2025). Revenue: ฿1.83b (down 18% from 1Q 2025). Net loss: ฿99.7m (loss widened ฿83.2m from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings.Reported Earnings • Mar 02Full year 2025 earnings released: ฿0.93 loss per share (vs ฿1.38 loss in FY 2024)Full year 2025 results: ฿0.93 loss per share (improved from ฿1.38 loss in FY 2024). Revenue: ฿7.90b (flat on FY 2024). Net loss: ฿553.0m (loss narrowed 24% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has fallen by 45% per year, which means it is performing significantly worse than earnings.Reported Earnings • Nov 23Third quarter 2025 earnings released: ฿0.28 loss per share (vs ฿0.28 loss in 3Q 2024)Third quarter 2025 results: ฿0.28 loss per share (further deteriorated from ฿0.28 loss in 3Q 2024). Revenue: ฿1.90b (down 16% from 3Q 2024). Net loss: ฿169.0m (loss widened 3.0% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 49% per year, which means it has not declined as severely as earnings.Reported Earnings • Aug 14Second quarter 2025 earnings released: ฿0.32 loss per share (vs ฿0.20 loss in 2Q 2024)Second quarter 2025 results: ฿0.32 loss per share (further deteriorated from ฿0.20 loss in 2Q 2024). Revenue: ฿1.98b (up 19% from 2Q 2024). Net loss: ฿193.1m (loss widened 104% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 24 percentage points per year, which is a significant difference in performance.Reported Earnings • May 14First quarter 2025 earnings released: ฿0.028 loss per share (vs ฿0.026 profit in 1Q 2024)First quarter 2025 results: ฿0.028 loss per share (down from ฿0.026 profit in 1Q 2024). Revenue: ฿2.25b (up 17% from 1Q 2024). Net loss: ฿16.6m (down 246% from profit in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 45 percentage points per year, which is a significant difference in performance.Reported Earnings • Aug 16Second quarter 2024 earnings released: ฿0.22 loss per share (vs ฿0.24 loss in 2Q 2023)Second quarter 2024 results: ฿0.22 loss per share (improved from ฿0.24 loss in 2Q 2023). Revenue: ฿1.68b (down 15% from 2Q 2023). Net loss: ฿94.7m (loss narrowed 9.6% from 2Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance.모든 업데이트 보기Recent updatesReported Earnings • 15hFirst quarter 2026 earnings released: ฿0.17 loss per share (vs ฿0.028 loss in 1Q 2025)First quarter 2026 results: ฿0.17 loss per share (further deteriorated from ฿0.028 loss in 1Q 2025). Revenue: ฿1.83b (down 18% from 1Q 2025). Net loss: ฿99.7m (loss widened ฿83.2m from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings.Reported Earnings • Mar 02Full year 2025 earnings released: ฿0.93 loss per share (vs ฿1.38 loss in FY 2024)Full year 2025 results: ฿0.93 loss per share (improved from ฿1.38 loss in FY 2024). Revenue: ฿7.90b (flat on FY 2024). Net loss: ฿553.0m (loss narrowed 24% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has fallen by 45% per year, which means it is performing significantly worse than earnings.공시 • Feb 26A.J. Plast Public Company Limited, Annual General Meeting, Apr 24, 2026A.J. Plast Public Company Limited, Annual General Meeting, Apr 24, 2026, at 09:00 SE Asia Standard Time. Location: the meeting room at the wisdom building, of a.j. plas public company limited, ThailandNew Risk • Dec 26New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (3.6% 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 (7.8% average weekly change). Market cap is less than US$100m (฿1.26b market cap, or US$40.7m).Reported Earnings • Nov 23Third quarter 2025 earnings released: ฿0.28 loss per share (vs ฿0.28 loss in 3Q 2024)Third quarter 2025 results: ฿0.28 loss per share (further deteriorated from ฿0.28 loss in 3Q 2024). Revenue: ฿1.90b (down 16% from 3Q 2024). Net loss: ฿169.0m (loss widened 3.0% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 49% per year, which means it has not declined as severely as earnings.Reported Earnings • Aug 14Second quarter 2025 earnings released: ฿0.32 loss per share (vs ฿0.20 loss in 2Q 2024)Second quarter 2025 results: ฿0.32 loss per share (further deteriorated from ฿0.20 loss in 2Q 2024). Revenue: ฿1.98b (up 19% from 2Q 2024). Net loss: ฿193.1m (loss widened 104% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 24 percentage points per year, which is a significant difference in performance.Reported Earnings • May 14First quarter 2025 earnings released: ฿0.028 loss per share (vs ฿0.026 profit in 1Q 2024)First quarter 2025 results: ฿0.028 loss per share (down from ฿0.026 profit in 1Q 2024). Revenue: ฿2.25b (up 17% from 1Q 2024). Net loss: ฿16.6m (down 246% from profit in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 45 percentage points per year, which is a significant difference in performance.Board Change • Mar 02Less than half of directors are independentFollowing Director Roy Ingkhaipiroj's arrival on 01 March 2025, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Kasemsit Pathomsak was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.공시 • Mar 01+ 1 more updateA.J. Plast Public Company Limited, Annual General Meeting, Apr 29, 2025A.J. Plast Public Company Limited, Annual General Meeting, Apr 29, 2025, at 09:00 SE Asia Standard Time. Location: at the a.j.plast public limited , meeting room at the wisdom building, no 101/5 thakarm road, samaedam, sub-district, bangkhuntien district, bangkok 10150 ThailandNew Risk • Feb 24New major risk - Revenue and earnings growthEarnings have declined by 46% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 46% per year over the past 5 years. Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (฿1.41b market cap, or US$42.1m).New Risk • Jan 24New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (฿1.67b market cap, or US$49.7m).New Risk • Jan 16New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 36% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Minor Risk Market cap is less than US$100m (฿1.57b market cap, or US$45.5m).Reported Earnings • Aug 16Second quarter 2024 earnings released: ฿0.22 loss per share (vs ฿0.24 loss in 2Q 2023)Second quarter 2024 results: ฿0.22 loss per share (improved from ฿0.24 loss in 2Q 2023). Revenue: ฿1.68b (down 15% from 2Q 2023). Net loss: ฿94.7m (loss narrowed 9.6% from 2Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance.New Risk • Jun 24New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 36% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. 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 Shareholders have been diluted in the past year (36% increase in shares outstanding). Market cap is less than US$100m (฿3.46b market cap, or US$94.1m).Reported Earnings • May 16First quarter 2024 earnings released: EPS: ฿0.026 (vs ฿0.44 loss in 1Q 2023)First quarter 2024 results: EPS: ฿0.026 (up from ฿0.44 loss in 1Q 2023). Revenue: ฿1.94b (up 6.9% from 1Q 2023). Net income: ฿11.3m (up ฿204.9m from 1Q 2023). Profit margin: 0.6% (up from net loss in 1Q 2023). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance.Reported Earnings • Mar 02Full year 2023 earnings released: ฿0.83 loss per share (vs ฿0.067 profit in FY 2022)Full year 2023 results: ฿0.83 loss per share (down from ฿0.067 profit in FY 2022). Revenue: ฿7.70b (down 15% from FY 2022). Net loss: ฿367.0m (down ฿396.6m 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 63 percentage points per year, which is a significant difference in performance.공시 • Feb 28A.J. Plast Public Company Limited, Annual General Meeting, Apr 30, 2024A.J. Plast Public Company Limited, Annual General Meeting, Apr 30, 2024, at 09:00 SE Asia Standard Time. Location: meeting room at the Wisdom Building of A.J. Plast Pulbilc Company Limited, No. 101/5 thakarm Road, Samaedam Sub-District, bangkhuntien District Bangkok Thailand Agenda: To consider the Minutes of the Annual General Shareholders meeting of No.1/2023 dated 26 April 2023; to acknowledge the operating performance and the annual report of the company for the year 2023; and to consider other matters.New Risk • Feb 28New major risk - Revenue and earnings growthEarnings have declined by 16% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 16% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (฿2.84b market cap, or US$78.8m).Price Target Changed • Nov 15Price target decreased by 16% to ฿8.45Down from ฿10.00, the current price target is provided by 1 analyst. New target price is 31% above last closing price of ฿6.45. Stock is down 48% over the past year. The company is forecast to post a net loss per share of ฿1.01 compared to earnings per share of ฿0.067 last year.Reported Earnings • Nov 14Third quarter 2023 earnings released: ฿0.13 loss per share (vs ฿0.098 loss in 3Q 2022)Third quarter 2023 results: ฿0.13 loss per share (further deteriorated from ฿0.098 loss in 3Q 2022). Revenue: ฿1.98b (down 11% from 3Q 2022). Net loss: ฿56.3m (loss widened 31% from 3Q 2022). Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance.Major Estimate Revision • Oct 05Consensus EPS estimates fall by 17%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ฿9.40b to ฿9.29b. Losses expected to increase from ฿0.86 per share to ฿1.01. Packaging industry in Thailand expected to see average net income growth of 46% next year. Consensus price target broadly unchanged at ฿10.00. Share price fell 3.2% to ฿7.65 over the past week.Reported Earnings • Aug 16Second quarter 2023 earnings released: ฿0.24 loss per share (vs ฿0.28 profit in 2Q 2022)Second quarter 2023 results: ฿0.24 loss per share (down from ฿0.28 profit in 2Q 2022). Revenue: ฿1.99b (down 24% from 2Q 2022). Net loss: ฿104.8m (down 184% from profit in 2Q 2022). Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 49 percentage points per year, which is a significant difference in performance.Reported Earnings • May 18First quarter 2023 earnings released: ฿0.44 loss per share (vs ฿0.32 profit in 1Q 2022)First quarter 2023 results: ฿0.44 loss per share (down from ฿0.32 profit in 1Q 2022). Revenue: ฿1.83b (down 28% from 1Q 2022). Net loss: ฿193.6m (down 236% from profit in 1Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.Reported Earnings • Mar 06Full year 2022 earnings: EPS and revenues miss analyst expectationsFull year 2022 results: EPS: ฿0.067 (down from ฿0.97 in FY 2021). Revenue: ฿9.13b (down 2.2% from FY 2021). Net income: ฿29.6m (down 93% from FY 2021). Profit margin: 0.3% (down from 4.6% in FY 2021). Revenue missed analyst estimates by 7.1%. Earnings per share (EPS) also missed analyst estimates by 85%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings.Price Target Changed • Nov 16Price target decreased to ฿17.70Down from ฿21.20, the current price target is provided by 1 analyst. New target price is 43% above last closing price of ฿12.40. Stock is down 32% over the past year. The company is forecast to post earnings per share of ฿0.99 for next year compared to ฿0.97 last year.Board Change • Nov 16Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Independent Director Surasak Gosayachinda was the last director to join the board, commencing their role in 2002. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.Price Target Changed • Nov 04Price target decreased to ฿17.70Down from ฿21.20, the current price target is provided by 1 analyst. New target price is 34% above last closing price of ฿13.20. Stock is down 29% over the past year. The company is forecast to post earnings per share of ฿0.99 for next year compared to ฿0.97 last year.Upcoming Dividend • Aug 18Upcoming dividend of ฿0.38 per shareEligible shareholders must have bought the stock before 25 August 2022. Payment date: 09 September 2022. Payout ratio is a comfortable 66% but the company is paying out more than the cash it is generating. Trailing yield: 4.1%. Lower than top quartile of Thai dividend payers (5.4%). Higher than average of industry peers (2.0%).Reported Earnings • Aug 14Second quarter 2022 earnings released: EPS: ฿0.28 (vs ฿0.39 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.28 (down from ฿0.39 in 2Q 2021). Revenue: ฿2.61b (up 11% from 2Q 2021). Net income: ฿125.0m (down 26% from 2Q 2021). Profit margin: 4.8% (down from 7.2% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 5.6%, compared to a 7.1% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.Price Target Changed • Jun 03Price target decreased to ฿21.00Down from ฿23.50, the current price target is provided by 1 analyst. New target price is 27% above last closing price of ฿16.60. Stock is down 16% over the past year. The company is forecast to post earnings per share of ฿1.31 for next year compared to ฿0.97 last year.Reported Earnings • May 15First quarter 2022 earnings released: EPS: ฿0.32 (vs ฿0.24 in 1Q 2021)First quarter 2022 results: EPS: ฿0.32 (up from ฿0.24 in 1Q 2021). Revenue: ฿2.58b (up 28% from 1Q 2021). Net income: ฿142.7m (up 38% from 1Q 2021). Profit margin: 5.5% (up from 5.1% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 6.0%, compared to a 9.4% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.Board Change • Apr 27Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Independent Director Surasak Gosayachinda was the last director to join the board, commencing their role in 2002. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.Price Target Changed • Apr 27Price target increased to ฿23.50Up from ฿20.00, the current price target is provided by 1 analyst. New target price is 41% above last closing price of ฿16.70. Stock is down 18% over the past year. The company is forecast to post earnings per share of ฿1.50 for next year compared to ฿0.97 last year.Upcoming Dividend • Mar 04Upcoming dividend of ฿0.25 per shareEligible shareholders must have bought the stock before 11 March 2022. Payment date: 20 May 2022. Payout ratio is a comfortable 67% and the cash payout ratio is 92%. Trailing yield: 3.7%. Lower than top quartile of Thai dividend payers (5.2%). Higher than average of industry peers (2.3%).Price Target Changed • Mar 02Price target increased to ฿23.50Up from ฿20.00, the current price target is provided by 1 analyst. New target price is 28% above last closing price of ฿18.30. Stock is down 7.1% over the past year. The company is forecast to post earnings per share of ฿1.50 for next year compared to ฿0.97 last year.Reported Earnings • Mar 01Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull year 2021 results: EPS: ฿0.97 (down from ฿1.33 in FY 2020). Revenue: ฿9.44b (up 30% from FY 2020). Net income: ฿428.6m (down 20% from FY 2020). Profit margin: 4.5% (down from 7.3% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.2%. Over the next year, revenue is forecast to grow 5.3%, compared to a 11% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth.Price Target Changed • Dec 25Price target decreased to ฿20.00Down from ฿23.00, the current price target is provided by 1 analyst. New target price is 16% above last closing price of ฿17.20. Stock is down 23% over the past year. The company posted earnings per share of ฿1.33 last year.Reported Earnings • Nov 13Third quarter 2021 earnings released: ฿0.092 loss per share (vs ฿0.40 profit in 3Q 2020)The company reported a mediocre third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: ฿2.31b (up 32% from 3Q 2020). Net loss: ฿40.7m (down 125% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Aug 18Upcoming dividend of ฿0.40 per shareEligible shareholders must have bought the stock before 25 August 2021. Payment date: 09 September 2021. Trailing yield: 4.1%. Lower than top quartile of Thai dividend payers (5.1%). Higher than average of industry peers (1.6%).Reported Earnings • Aug 13Second quarter 2021 earnings released: EPS ฿0.39 (vs ฿0.68 in 2Q 2020)The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: ฿2.37b (up 26% from 2Q 2020). Net income: ฿170.0m (down 37% from 2Q 2020). Profit margin: 7.2% (down from 14% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • May 22Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to ฿20.60, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Packaging industry in Thailand. Total returns to shareholders of 92% over the past three years.Reported Earnings • May 16First quarter 2021 earnings released: EPS ฿0.24 (vs ฿0.14 loss in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿2.06b (up 9.3% from 1Q 2020). Net income: ฿103.6m (up ฿160.1m from 1Q 2020). Profit margin: 5.0% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • May 01Investor sentiment improved over the past weekAfter last week's 28% share price gain to ฿23.60, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Packaging industry in Thailand. Total returns to shareholders of 92% over the past three years.Reported Earnings • Mar 03Full year 2020 earnings released: EPS ฿1.33 (vs ฿0.59 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿7.34b (up 6.8% from FY 2019). Net income: ฿532.3m (up 125% from FY 2019). Profit margin: 7.3% (up from 3.4% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Analyst Estimate Surprise Post Earnings • Mar 03Revenue misses expectationsRevenue missed analyst estimates by 4.3%. Over the next year, revenue is forecast to grow 4.2%, compared to a 20% growth forecast for the Packaging industry in Thailand.Valuation Update With 7 Day Price Move • Jan 01Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to ฿18.80, the stock is trading at a trailing P/E ratio of 12.9x, down from the previous P/E ratio of 15.2x. This compares to an average P/E of 11x in the Packaging industry in Thailand. Total returns to shareholders over the past three years are 62%.Is New 90 Day High Low • Dec 18New 90-day high: ฿19.40The company is up 30% from its price of ฿14.90 on 18 September 2020. The Thai market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Packaging industry, which is up 1.0% over the same period.Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS ฿0.40The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿1.78b (up 5.9% from 3Q 2019). Net income: ฿161.3m (up ฿174.1m from 3Q 2019). Profit margin: 9.0% (up from net loss in 3Q 2019). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.매출 및 비용 세부 내역A.J. Plast가 돈을 벌고 사용하는 방법. 최근 발표된 LTM 실적 기준.순이익 및 매출 추이SET:AJ 매출, 비용 및 순이익 (THB Millions)날짜매출순이익일반관리비연구개발비31 Mar 267,422-636597031 Dec 257,834-553609030 Sep 258,119-855709030 Jun 258,489-850725031 Mar 258,192-752726031 Dec 247,869-725663030 Sep 247,716-260643030 Jun 247,410-152643031 Mar 247,718-162652031 Dec 237,627-367652030 Sep 237,444-550631030 Jun 237,713-537646031 Mar 238,354-307660031 Dec 229,09630693030 Sep 2210,085421745030 Jun 2210,128423703031 Mar 229,871468661031 Dec 219,335429608030 Sep 218,402389533030 Jun 217,879591500031 Mar 217,406692493031 Dec 207,270532477030 Sep 207,234582493030 Jun 207,162408496031 Mar 207,031169495031 Dec 196,870236490030 Sep 197,13851482030 Jun 197,47362489031 Mar 197,63019489031 Dec 187,77018494030 Sep 187,664120498030 Jun 187,559215498031 Mar 187,504351500031 Dec 177,696443508030 Sep 177,631424510030 Jun 177,443368513031 Mar 177,391242511031 Dec 166,911121500030 Sep 166,56810482030 Jun 166,430-30473031 Mar 166,472-17469031 Dec 156,2044446030 Sep 156,325-234446030 Jun 156,429-2294450양질의 수익: AJ 은(는) 현재 수익성이 없습니다.이익 마진 증가: AJ는 현재 수익성이 없습니다.잉여현금흐름 대비 순이익 분석과거 순이익 성장 분석수익추이: AJ은 수익성이 없으며 지난 5년 동안 손실이 연평균 62.7% 증가했습니다.성장 가속화: 현재 수익성이 없어 지난 1년간 AJ의 수익 성장률을 5년 평균과 비교할 수 없습니다.수익 대 산업: AJ은 수익성이 없어 지난 해 수익 성장률을 Packaging 업계(4.2%)와 비교하기 어렵습니다.자기자본이익률높은 ROE: AJ는 현재 수익성이 없으므로 자본 수익률이 음수(-16.38%)입니다.총자산이익률투하자본수익률우수한 과거 실적 기업을 찾아보세요7D1Y7D1Y7D1YMaterials 산업에서 과거 실적이 우수한 기업.View Financial Health기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/20 00:53종가2026/05/20 00:00수익2026/03/31연간 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 소스A.J. Plast 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.분석가기관Pongrat RatanatavananandaBualuang Securities PCL
Reported Earnings • 15hFirst quarter 2026 earnings released: ฿0.17 loss per share (vs ฿0.028 loss in 1Q 2025)First quarter 2026 results: ฿0.17 loss per share (further deteriorated from ฿0.028 loss in 1Q 2025). Revenue: ฿1.83b (down 18% from 1Q 2025). Net loss: ฿99.7m (loss widened ฿83.2m from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings.
Reported Earnings • Mar 02Full year 2025 earnings released: ฿0.93 loss per share (vs ฿1.38 loss in FY 2024)Full year 2025 results: ฿0.93 loss per share (improved from ฿1.38 loss in FY 2024). Revenue: ฿7.90b (flat on FY 2024). Net loss: ฿553.0m (loss narrowed 24% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has fallen by 45% per year, which means it is performing significantly worse than earnings.
Reported Earnings • Nov 23Third quarter 2025 earnings released: ฿0.28 loss per share (vs ฿0.28 loss in 3Q 2024)Third quarter 2025 results: ฿0.28 loss per share (further deteriorated from ฿0.28 loss in 3Q 2024). Revenue: ฿1.90b (down 16% from 3Q 2024). Net loss: ฿169.0m (loss widened 3.0% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 49% per year, which means it has not declined as severely as earnings.
Reported Earnings • Aug 14Second quarter 2025 earnings released: ฿0.32 loss per share (vs ฿0.20 loss in 2Q 2024)Second quarter 2025 results: ฿0.32 loss per share (further deteriorated from ฿0.20 loss in 2Q 2024). Revenue: ฿1.98b (up 19% from 2Q 2024). Net loss: ฿193.1m (loss widened 104% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 24 percentage points per year, which is a significant difference in performance.
Reported Earnings • May 14First quarter 2025 earnings released: ฿0.028 loss per share (vs ฿0.026 profit in 1Q 2024)First quarter 2025 results: ฿0.028 loss per share (down from ฿0.026 profit in 1Q 2024). Revenue: ฿2.25b (up 17% from 1Q 2024). Net loss: ฿16.6m (down 246% from profit in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 45 percentage points per year, which is a significant difference in performance.
Reported Earnings • Aug 16Second quarter 2024 earnings released: ฿0.22 loss per share (vs ฿0.24 loss in 2Q 2023)Second quarter 2024 results: ฿0.22 loss per share (improved from ฿0.24 loss in 2Q 2023). Revenue: ฿1.68b (down 15% from 2Q 2023). Net loss: ฿94.7m (loss narrowed 9.6% from 2Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance.
Reported Earnings • 15hFirst quarter 2026 earnings released: ฿0.17 loss per share (vs ฿0.028 loss in 1Q 2025)First quarter 2026 results: ฿0.17 loss per share (further deteriorated from ฿0.028 loss in 1Q 2025). Revenue: ฿1.83b (down 18% from 1Q 2025). Net loss: ฿99.7m (loss widened ฿83.2m from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings.
Reported Earnings • Mar 02Full year 2025 earnings released: ฿0.93 loss per share (vs ฿1.38 loss in FY 2024)Full year 2025 results: ฿0.93 loss per share (improved from ฿1.38 loss in FY 2024). Revenue: ฿7.90b (flat on FY 2024). Net loss: ฿553.0m (loss narrowed 24% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has fallen by 45% per year, which means it is performing significantly worse than earnings.
공시 • Feb 26A.J. Plast Public Company Limited, Annual General Meeting, Apr 24, 2026A.J. Plast Public Company Limited, Annual General Meeting, Apr 24, 2026, at 09:00 SE Asia Standard Time. Location: the meeting room at the wisdom building, of a.j. plas public company limited, Thailand
New Risk • Dec 26New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (3.6% 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 (7.8% average weekly change). Market cap is less than US$100m (฿1.26b market cap, or US$40.7m).
Reported Earnings • Nov 23Third quarter 2025 earnings released: ฿0.28 loss per share (vs ฿0.28 loss in 3Q 2024)Third quarter 2025 results: ฿0.28 loss per share (further deteriorated from ฿0.28 loss in 3Q 2024). Revenue: ฿1.90b (down 16% from 3Q 2024). Net loss: ฿169.0m (loss widened 3.0% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 49% per year, which means it has not declined as severely as earnings.
Reported Earnings • Aug 14Second quarter 2025 earnings released: ฿0.32 loss per share (vs ฿0.20 loss in 2Q 2024)Second quarter 2025 results: ฿0.32 loss per share (further deteriorated from ฿0.20 loss in 2Q 2024). Revenue: ฿1.98b (up 19% from 2Q 2024). Net loss: ฿193.1m (loss widened 104% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 24 percentage points per year, which is a significant difference in performance.
Reported Earnings • May 14First quarter 2025 earnings released: ฿0.028 loss per share (vs ฿0.026 profit in 1Q 2024)First quarter 2025 results: ฿0.028 loss per share (down from ฿0.026 profit in 1Q 2024). Revenue: ฿2.25b (up 17% from 1Q 2024). Net loss: ฿16.6m (down 246% from profit in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 45 percentage points per year, which is a significant difference in performance.
Board Change • Mar 02Less than half of directors are independentFollowing Director Roy Ingkhaipiroj's arrival on 01 March 2025, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Kasemsit Pathomsak was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
공시 • Mar 01+ 1 more updateA.J. Plast Public Company Limited, Annual General Meeting, Apr 29, 2025A.J. Plast Public Company Limited, Annual General Meeting, Apr 29, 2025, at 09:00 SE Asia Standard Time. Location: at the a.j.plast public limited , meeting room at the wisdom building, no 101/5 thakarm road, samaedam, sub-district, bangkhuntien district, bangkok 10150 Thailand
New Risk • Feb 24New major risk - Revenue and earnings growthEarnings have declined by 46% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 46% per year over the past 5 years. Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (฿1.41b market cap, or US$42.1m).
New Risk • Jan 24New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (฿1.67b market cap, or US$49.7m).
New Risk • Jan 16New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 36% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Minor Risk Market cap is less than US$100m (฿1.57b market cap, or US$45.5m).
Reported Earnings • Aug 16Second quarter 2024 earnings released: ฿0.22 loss per share (vs ฿0.24 loss in 2Q 2023)Second quarter 2024 results: ฿0.22 loss per share (improved from ฿0.24 loss in 2Q 2023). Revenue: ฿1.68b (down 15% from 2Q 2023). Net loss: ฿94.7m (loss narrowed 9.6% from 2Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance.
New Risk • Jun 24New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 36% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. 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 Shareholders have been diluted in the past year (36% increase in shares outstanding). Market cap is less than US$100m (฿3.46b market cap, or US$94.1m).
Reported Earnings • May 16First quarter 2024 earnings released: EPS: ฿0.026 (vs ฿0.44 loss in 1Q 2023)First quarter 2024 results: EPS: ฿0.026 (up from ฿0.44 loss in 1Q 2023). Revenue: ฿1.94b (up 6.9% from 1Q 2023). Net income: ฿11.3m (up ฿204.9m from 1Q 2023). Profit margin: 0.6% (up from net loss in 1Q 2023). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance.
Reported Earnings • Mar 02Full year 2023 earnings released: ฿0.83 loss per share (vs ฿0.067 profit in FY 2022)Full year 2023 results: ฿0.83 loss per share (down from ฿0.067 profit in FY 2022). Revenue: ฿7.70b (down 15% from FY 2022). Net loss: ฿367.0m (down ฿396.6m 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 63 percentage points per year, which is a significant difference in performance.
공시 • Feb 28A.J. Plast Public Company Limited, Annual General Meeting, Apr 30, 2024A.J. Plast Public Company Limited, Annual General Meeting, Apr 30, 2024, at 09:00 SE Asia Standard Time. Location: meeting room at the Wisdom Building of A.J. Plast Pulbilc Company Limited, No. 101/5 thakarm Road, Samaedam Sub-District, bangkhuntien District Bangkok Thailand Agenda: To consider the Minutes of the Annual General Shareholders meeting of No.1/2023 dated 26 April 2023; to acknowledge the operating performance and the annual report of the company for the year 2023; and to consider other matters.
New Risk • Feb 28New major risk - Revenue and earnings growthEarnings have declined by 16% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 16% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (฿2.84b market cap, or US$78.8m).
Price Target Changed • Nov 15Price target decreased by 16% to ฿8.45Down from ฿10.00, the current price target is provided by 1 analyst. New target price is 31% above last closing price of ฿6.45. Stock is down 48% over the past year. The company is forecast to post a net loss per share of ฿1.01 compared to earnings per share of ฿0.067 last year.
Reported Earnings • Nov 14Third quarter 2023 earnings released: ฿0.13 loss per share (vs ฿0.098 loss in 3Q 2022)Third quarter 2023 results: ฿0.13 loss per share (further deteriorated from ฿0.098 loss in 3Q 2022). Revenue: ฿1.98b (down 11% from 3Q 2022). Net loss: ฿56.3m (loss widened 31% from 3Q 2022). Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance.
Major Estimate Revision • Oct 05Consensus EPS estimates fall by 17%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ฿9.40b to ฿9.29b. Losses expected to increase from ฿0.86 per share to ฿1.01. Packaging industry in Thailand expected to see average net income growth of 46% next year. Consensus price target broadly unchanged at ฿10.00. Share price fell 3.2% to ฿7.65 over the past week.
Reported Earnings • Aug 16Second quarter 2023 earnings released: ฿0.24 loss per share (vs ฿0.28 profit in 2Q 2022)Second quarter 2023 results: ฿0.24 loss per share (down from ฿0.28 profit in 2Q 2022). Revenue: ฿1.99b (down 24% from 2Q 2022). Net loss: ฿104.8m (down 184% from profit in 2Q 2022). Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 49 percentage points per year, which is a significant difference in performance.
Reported Earnings • May 18First quarter 2023 earnings released: ฿0.44 loss per share (vs ฿0.32 profit in 1Q 2022)First quarter 2023 results: ฿0.44 loss per share (down from ฿0.32 profit in 1Q 2022). Revenue: ฿1.83b (down 28% from 1Q 2022). Net loss: ฿193.6m (down 236% from profit in 1Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.
Reported Earnings • Mar 06Full year 2022 earnings: EPS and revenues miss analyst expectationsFull year 2022 results: EPS: ฿0.067 (down from ฿0.97 in FY 2021). Revenue: ฿9.13b (down 2.2% from FY 2021). Net income: ฿29.6m (down 93% from FY 2021). Profit margin: 0.3% (down from 4.6% in FY 2021). Revenue missed analyst estimates by 7.1%. Earnings per share (EPS) also missed analyst estimates by 85%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings.
Price Target Changed • Nov 16Price target decreased to ฿17.70Down from ฿21.20, the current price target is provided by 1 analyst. New target price is 43% above last closing price of ฿12.40. Stock is down 32% over the past year. The company is forecast to post earnings per share of ฿0.99 for next year compared to ฿0.97 last year.
Board Change • Nov 16Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Independent Director Surasak Gosayachinda was the last director to join the board, commencing their role in 2002. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.
Price Target Changed • Nov 04Price target decreased to ฿17.70Down from ฿21.20, the current price target is provided by 1 analyst. New target price is 34% above last closing price of ฿13.20. Stock is down 29% over the past year. The company is forecast to post earnings per share of ฿0.99 for next year compared to ฿0.97 last year.
Upcoming Dividend • Aug 18Upcoming dividend of ฿0.38 per shareEligible shareholders must have bought the stock before 25 August 2022. Payment date: 09 September 2022. Payout ratio is a comfortable 66% but the company is paying out more than the cash it is generating. Trailing yield: 4.1%. Lower than top quartile of Thai dividend payers (5.4%). Higher than average of industry peers (2.0%).
Reported Earnings • Aug 14Second quarter 2022 earnings released: EPS: ฿0.28 (vs ฿0.39 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.28 (down from ฿0.39 in 2Q 2021). Revenue: ฿2.61b (up 11% from 2Q 2021). Net income: ฿125.0m (down 26% from 2Q 2021). Profit margin: 4.8% (down from 7.2% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 5.6%, compared to a 7.1% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.
Price Target Changed • Jun 03Price target decreased to ฿21.00Down from ฿23.50, the current price target is provided by 1 analyst. New target price is 27% above last closing price of ฿16.60. Stock is down 16% over the past year. The company is forecast to post earnings per share of ฿1.31 for next year compared to ฿0.97 last year.
Reported Earnings • May 15First quarter 2022 earnings released: EPS: ฿0.32 (vs ฿0.24 in 1Q 2021)First quarter 2022 results: EPS: ฿0.32 (up from ฿0.24 in 1Q 2021). Revenue: ฿2.58b (up 28% from 1Q 2021). Net income: ฿142.7m (up 38% from 1Q 2021). Profit margin: 5.5% (up from 5.1% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 6.0%, compared to a 9.4% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.
Board Change • Apr 27Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Independent Director Surasak Gosayachinda was the last director to join the board, commencing their role in 2002. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.
Price Target Changed • Apr 27Price target increased to ฿23.50Up from ฿20.00, the current price target is provided by 1 analyst. New target price is 41% above last closing price of ฿16.70. Stock is down 18% over the past year. The company is forecast to post earnings per share of ฿1.50 for next year compared to ฿0.97 last year.
Upcoming Dividend • Mar 04Upcoming dividend of ฿0.25 per shareEligible shareholders must have bought the stock before 11 March 2022. Payment date: 20 May 2022. Payout ratio is a comfortable 67% and the cash payout ratio is 92%. Trailing yield: 3.7%. Lower than top quartile of Thai dividend payers (5.2%). Higher than average of industry peers (2.3%).
Price Target Changed • Mar 02Price target increased to ฿23.50Up from ฿20.00, the current price target is provided by 1 analyst. New target price is 28% above last closing price of ฿18.30. Stock is down 7.1% over the past year. The company is forecast to post earnings per share of ฿1.50 for next year compared to ฿0.97 last year.
Reported Earnings • Mar 01Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull year 2021 results: EPS: ฿0.97 (down from ฿1.33 in FY 2020). Revenue: ฿9.44b (up 30% from FY 2020). Net income: ฿428.6m (down 20% from FY 2020). Profit margin: 4.5% (down from 7.3% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.2%. Over the next year, revenue is forecast to grow 5.3%, compared to a 11% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth.
Price Target Changed • Dec 25Price target decreased to ฿20.00Down from ฿23.00, the current price target is provided by 1 analyst. New target price is 16% above last closing price of ฿17.20. Stock is down 23% over the past year. The company posted earnings per share of ฿1.33 last year.
Reported Earnings • Nov 13Third quarter 2021 earnings released: ฿0.092 loss per share (vs ฿0.40 profit in 3Q 2020)The company reported a mediocre third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: ฿2.31b (up 32% from 3Q 2020). Net loss: ฿40.7m (down 125% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Aug 18Upcoming dividend of ฿0.40 per shareEligible shareholders must have bought the stock before 25 August 2021. Payment date: 09 September 2021. Trailing yield: 4.1%. Lower than top quartile of Thai dividend payers (5.1%). Higher than average of industry peers (1.6%).
Reported Earnings • Aug 13Second quarter 2021 earnings released: EPS ฿0.39 (vs ฿0.68 in 2Q 2020)The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: ฿2.37b (up 26% from 2Q 2020). Net income: ฿170.0m (down 37% from 2Q 2020). Profit margin: 7.2% (down from 14% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • May 22Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to ฿20.60, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Packaging industry in Thailand. Total returns to shareholders of 92% over the past three years.
Reported Earnings • May 16First quarter 2021 earnings released: EPS ฿0.24 (vs ฿0.14 loss in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿2.06b (up 9.3% from 1Q 2020). Net income: ฿103.6m (up ฿160.1m from 1Q 2020). Profit margin: 5.0% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • May 01Investor sentiment improved over the past weekAfter last week's 28% share price gain to ฿23.60, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Packaging industry in Thailand. Total returns to shareholders of 92% over the past three years.
Reported Earnings • Mar 03Full year 2020 earnings released: EPS ฿1.33 (vs ฿0.59 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿7.34b (up 6.8% from FY 2019). Net income: ฿532.3m (up 125% from FY 2019). Profit margin: 7.3% (up from 3.4% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Analyst Estimate Surprise Post Earnings • Mar 03Revenue misses expectationsRevenue missed analyst estimates by 4.3%. Over the next year, revenue is forecast to grow 4.2%, compared to a 20% growth forecast for the Packaging industry in Thailand.
Valuation Update With 7 Day Price Move • Jan 01Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to ฿18.80, the stock is trading at a trailing P/E ratio of 12.9x, down from the previous P/E ratio of 15.2x. This compares to an average P/E of 11x in the Packaging industry in Thailand. Total returns to shareholders over the past three years are 62%.
Is New 90 Day High Low • Dec 18New 90-day high: ฿19.40The company is up 30% from its price of ฿14.90 on 18 September 2020. The Thai market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Packaging industry, which is up 1.0% over the same period.
Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS ฿0.40The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿1.78b (up 5.9% from 3Q 2019). Net income: ฿161.3m (up ฿174.1m from 3Q 2019). Profit margin: 9.0% (up from net loss in 3Q 2019). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.