View Financial HealthThai Plaspac 배당 및 자사주 매입배당 기준 점검 4/6Thai Plaspac 수익으로 충분히 충당되는 현재 수익률 5.01% 보유한 배당금 지급 회사입니다. 다음 지급일은 27th May, 2026 이며 배당락일은 다음과 같습니다. 8th May, 2026.핵심 정보5.0%배당 수익률n/a자사주 매입 수익률총 주주 수익률n/a미래 배당 수익률5.0%배당 성장률7.0%다음 배당 지급일27 May 26배당락일08 May 26주당 배당금n/a배당 성향29%최근 배당 및 자사주 매입 업데이트Upcoming Dividend • May 01Upcoming dividend of ฿0.44 per shareEligible shareholders must have bought the stock before 08 May 2026. Payment date: 27 May 2026. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (3.6%).Declared Dividend • Mar 04Dividend increased to ฿0.44Dividend of ฿0.44 is 15% higher than last year. Ex-date: 8th May 2026 Payment date: 27th May 2026 Dividend yield will be 4.8%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 4.3% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 8.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.공시 • Mar 03Thai Plaspac Public Company Limited announces Annual dividend, payable on May 27, 2026Thai Plaspac Public Company Limited announced Annual dividend of THB 0.4380 per share payable on May 27, 2026, ex-date on May 08, 2026 and record date on May 11, 2026.Upcoming Dividend • May 01Upcoming dividend of ฿0.38 per shareEligible shareholders must have bought the stock before 08 May 2025. Payment date: 23 May 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Thai dividend payers (7.9%). In line with average of industry peers (4.8%).공시 • Mar 01+ 1 more updateThai Plaspac Public Company Limited Proposes Cash Dividend for the Operating Period from 01 Jan. 2024 to 31 Dec. 2024, Payable on 23 May 2025Thai Plaspac Public Company Limited proposed cash dividend payment of THB 0.38 per share for Common shareholders or THB 124,089,000 for the Operating period from 01 Jan. 2024 to 31 Dec. 2024 to the Annual General Meeting of Shareholders to be held on 30 Apr. 2025, at Date of Board resolution on 28 Feb. 2025. Record date for the right to receive dividends 09 May 2025. Ex-dividend date 08 May 2025. Payment date 23 May 2025.Upcoming Dividend • May 02Upcoming dividend of ฿0.45 per shareEligible shareholders must have bought the stock before 09 May 2024. Payment date: 24 May 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Thai dividend payers (6.0%). Higher than average of industry peers (2.6%).모든 업데이트 보기Recent updatesReported Earnings • May 11First quarter 2026 earnings released: EPS: ฿0.43 (vs ฿0.37 in 1Q 2025)First quarter 2026 results: EPS: ฿0.43 (up from ฿0.37 in 1Q 2025). Revenue: ฿1.82b (flat on 1Q 2025). Net income: ฿141.4m (up 17% from 1Q 2025). Profit margin: 7.8% (up from 6.6% in 1Q 2025). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings.Upcoming Dividend • May 01Upcoming dividend of ฿0.44 per shareEligible shareholders must have bought the stock before 08 May 2026. Payment date: 27 May 2026. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (3.6%).Reported Earnings • Mar 04Full year 2025 earnings released: EPS: ฿1.46 (vs ฿1.27 in FY 2024)Full year 2025 results: EPS: ฿1.46 (up from ฿1.27 in FY 2024). Revenue: ฿6.89b (down 5.6% from FY 2024). Net income: ฿477.0m (up 15% from FY 2024). Profit margin: 6.9% (up from 5.7% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.Declared Dividend • Mar 04Dividend increased to ฿0.44Dividend of ฿0.44 is 15% higher than last year. Ex-date: 8th May 2026 Payment date: 27th May 2026 Dividend yield will be 4.8%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 4.3% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 8.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.공시 • Mar 03Thai Plaspac Public Company Limited announces Annual dividend, payable on May 27, 2026Thai Plaspac Public Company Limited announced Annual dividend of THB 0.4380 per share payable on May 27, 2026, ex-date on May 08, 2026 and record date on May 11, 2026.공시 • Mar 02Thai Plaspac Public Company Limited, Annual General Meeting, Apr 30, 2026Thai Plaspac Public Company Limited, Annual General Meeting, Apr 30, 2026, at 14:00 SE Asia Standard Time.Reported Earnings • Nov 08Third quarter 2025 earnings released: EPS: ฿0.37 (vs ฿0.30 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.37 (up from ฿0.30 in 3Q 2024). Revenue: ฿1.69b (down 7.5% from 3Q 2024). Net income: ฿121.3m (up 22% from 3Q 2024). Profit margin: 7.2% (up from 5.4% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.8% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Packaging industry in Asia. 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 19% per year, which means it is significantly lagging earnings.Reported Earnings • Aug 09Second quarter 2025 earnings released: EPS: ฿0.27 (vs ฿0.33 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.27 (down from ฿0.33 in 2Q 2024). Revenue: ฿1.69b (down 9.3% from 2Q 2024). Net income: ฿88.3m (down 19% from 2Q 2024). Profit margin: 5.2% (down from 5.8% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 2 years, compared to a 9.5% growth forecast for the Packaging industry in Asia. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.Upcoming Dividend • May 01Upcoming dividend of ฿0.38 per shareEligible shareholders must have bought the stock before 08 May 2025. Payment date: 23 May 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Thai dividend payers (7.9%). In line with average of industry peers (4.8%).Reported Earnings • Mar 02Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: ฿1.27 (down from ฿1.50 in FY 2023). Revenue: ฿7.30b (up 5.9% from FY 2023). Net income: ฿414.1m (down 16% from FY 2023). Profit margin: 5.7% (down from 7.1% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.5%. Revenue is forecast to grow 5.6% p.a. on average during the next 2 years, compared to a 7.0% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.공시 • Mar 01+ 1 more updateThai Plaspac Public Company Limited Proposes Cash Dividend for the Operating Period from 01 Jan. 2024 to 31 Dec. 2024, Payable on 23 May 2025Thai Plaspac Public Company Limited proposed cash dividend payment of THB 0.38 per share for Common shareholders or THB 124,089,000 for the Operating period from 01 Jan. 2024 to 31 Dec. 2024 to the Annual General Meeting of Shareholders to be held on 30 Apr. 2025, at Date of Board resolution on 28 Feb. 2025. Record date for the right to receive dividends 09 May 2025. Ex-dividend date 08 May 2025. Payment date 23 May 2025.공시 • Dec 05Thai Plaspac Public Company Limited NVDR SHARES Depositary Receipts to Be Deleted from OTC EquityThai Plaspac Public Company Limited NVDR SHARES Depositary Receipts will be deleted from OTC Equity effective December 04, 2024, due to Inactive Security.Reported Earnings • Nov 12Third quarter 2024 earnings released: EPS: ฿0.30 (vs ฿0.44 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.30 (down from ฿0.44 in 3Q 2023). Revenue: ฿1.83b (up 6.2% from 3Q 2023). Net income: ฿99.2m (down 31% from 3Q 2023). Profit margin: 5.4% (down from 8.3% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Packaging industry in Thailand. 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 14% per year, which means it is significantly lagging earnings.New Risk • Nov 04New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ฿3.36b (US$99.8m) 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: Minor Risks High level of debt (95% 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 (฿3.36b market cap, or US$99.8m).Reported Earnings • Aug 10Second quarter 2024 earnings: EPS misses analyst expectationsSecond quarter 2024 results: EPS: ฿0.33 (down from ฿0.35 in 2Q 2023). Revenue: ฿1.86b (up 12% from 2Q 2023). Net income: ฿108.7m (down 4.9% from 2Q 2023). Profit margin: 5.8% (down from 6.9% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 9.8% 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, earnings per share has increased by 40% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.Valuation Update With 7 Day Price Move • Jun 28Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ฿11.90, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 12x in the Packaging industry in Thailand. Total loss to shareholders of 36% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿23.29 per share.Reported Earnings • May 12First quarter 2024 earnings released: EPS: ฿0.42 (vs ฿0.42 in 1Q 2023)First quarter 2024 results: EPS: ฿0.42 (down from ฿0.42 in 1Q 2023). Revenue: ฿1.86b (up 4.7% from 1Q 2023). Net income: ฿136.4m (down 1.7% from 1Q 2023). Profit margin: 7.3% (down from 7.8% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.9% p.a. on average during the next 2 years, compared to a 7.6% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.Upcoming Dividend • May 02Upcoming dividend of ฿0.45 per shareEligible shareholders must have bought the stock before 09 May 2024. Payment date: 24 May 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Thai dividend payers (6.0%). Higher than average of industry peers (2.6%).Declared Dividend • Mar 22Dividend increased to ฿0.45Dividend of ฿0.45 is 54% higher than last year. Ex-date: 9th May 2024 Payment date: 24th May 2024 Dividend yield will be 2.9%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has increased by an average of 3.5% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 28% over the next 2 years, which should provide support to the dividend and adequate earnings cover.Valuation Update With 7 Day Price Move • Mar 01Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ฿15.10, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Packaging industry in Thailand. Total returns to shareholders of 32% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿27.27 per share.Reported Earnings • Feb 24Full year 2023 earnings: EPS and revenues miss analyst expectationsFull year 2023 results: EPS: ฿1.50 (up from ฿0.98 in FY 2022). Revenue: ฿6.89b (down 2.6% from FY 2022). Net income: ฿490.2m (up 54% from FY 2022). Profit margin: 7.1% (up from 4.5% in FY 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) also missed analyst estimates by 6.3%. Revenue is forecast to grow 8.2% p.a. on average during the next 2 years, compared to a 30% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.공시 • Feb 24+ 1 more updateThai Plaspac Public Company Limited, Annual General Meeting, Apr 29, 2024Thai Plaspac Public Company Limited, Annual General Meeting, Apr 29, 2024, at 14:00 SE Asia Standard Time. Agenda: To consider and approve the audited consolidated financial statements of the Company and its subsidiaries for the year ended 31 December 2023; to consider and approve the allocation of profit from the operating results for the year ended 31 December 2023, as statutory reserve and as dividend payment; to consider and approve the election of directors to replace those who retire by rotation; to consider and approve the remuneration of directors for the year ended 31 December 2024; and to consider other matters.Reported Earnings • Nov 14Third quarter 2023 earnings released: EPS: ฿0.44 (vs ฿0.24 in 3Q 2022)Third quarter 2023 results: EPS: ฿0.44 (up from ฿0.24 in 3Q 2022). Revenue: ฿1.72b (down 6.7% from 3Q 2022). Net income: ฿143.3m (up 82% from 3Q 2022). Profit margin: 8.3% (up from 4.3% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.Buying Opportunity • Oct 26Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 24%. The fair value is estimated to be ฿17.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 15%. Revenue is forecast to grow by 12% in 2 years. Earnings is forecast to grow by 42% in the next 2 years.Reported Earnings • Aug 12Second quarter 2023 earnings released: EPS: ฿0.35 (vs ฿0.14 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.35 (up from ฿0.14 in 2Q 2022). Revenue: ฿1.66b (down 8.6% from 2Q 2022). Net income: ฿114.3m (up 151% from 2Q 2022). Profit margin: 6.9% (up from 2.5% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 14% per year.Reported Earnings • May 18First quarter 2023 earnings released: EPS: ฿0.43 (vs ฿0.27 in 1Q 2022)First quarter 2023 results: EPS: ฿0.43 (up from ฿0.27 in 1Q 2022). Revenue: ฿1.78b (up 8.1% from 1Q 2022). Net income: ฿138.9m (up 57% from 1Q 2022). Profit margin: 7.8% (up from 5.4% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth.Upcoming Dividend • May 02Upcoming dividend of ฿0.29 per share at 2.0% yieldEligible shareholders must have bought the stock before 09 May 2023. Payment date: 25 May 2023. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Thai dividend payers (6.2%). Lower than average of industry peers (2.4%).Board Change • Nov 16Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Kittiphat Suthisamphat was the last independent director to join the board, commencing their role in 2015. 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 • Aug 16Second quarter 2022 earnings released: EPS: ฿0.14 (vs ฿0.16 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.14 (down from ฿0.16 in 2Q 2021). Revenue: ฿1.82b (up 58% from 2Q 2021). Net income: ฿45.5m (down 10% from 2Q 2021). Profit margin: 2.5% (down from 4.4% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 2.5%, compared to a 7.1% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.Reported Earnings • May 16First quarter 2022 earnings: Revenues exceed analyst expectationsFirst quarter 2022 results: Revenue: ฿1.64b (up 49% from 1Q 2021). Net income: ฿88.3m (up ฿108.4m from 1Q 2021). Profit margin: 5.4% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 7.1%. Over the next year, revenue is forecast to grow 13%, 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 20% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • May 02Upcoming dividend of ฿0.14 per shareEligible shareholders must have bought the stock before 09 May 2022. Payment date: 20 May 2022. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Thai dividend payers (5.1%). Lower than average of industry peers (2.3%).Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Kittiphat Suthisamphat was the last independent director to join the board, commencing their role in 2015. 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 • Mar 02Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2021 results: EPS: ฿0.47 (down from ฿0.99 in FY 2020). Revenue: ฿5.25b (up 30% from FY 2020). Net income: ฿152.9m (down 53% from FY 2020). Profit margin: 2.9% (down from 8.0% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 7.1%. Earnings per share (EPS) missed analyst estimates by 18%. Over the next year, revenue is forecast to grow 22%, compared to a 11% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth.Reported Earnings • Nov 11Third quarter 2021 earnings released: EPS ฿0.16 (vs ฿0.24 in 3Q 2020)The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: ฿1.41b (up 35% from 3Q 2020). Net income: ฿50.4m (down 37% from 3Q 2020). Profit margin: 3.6% (down from 7.6% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth.Reported Earnings • Aug 13Second quarter 2021 earnings released: EPS ฿0.14 (vs ฿0.27 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: ฿1.15b (up 22% from 2Q 2020). Net income: ฿50.8m (down 42% from 2Q 2020). Profit margin: 4.4% (down from 9.3% 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 48% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Jun 05Investor sentiment improved over the past weekAfter last week's 20% share price gain to ฿19.00, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Packaging industry in Thailand. Total returns to shareholders of 63% over the past three years.Reported Earnings • May 16First quarter 2021 earnings released: ฿0.06 loss per share (vs ฿0.28 profit in 1Q 2020)The company reported a soft first quarter result with weaker earnings and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: ฿1.10b (up 5.2% from 1Q 2020). Net loss: ฿20.1m (down 122% from profit in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • May 01Upcoming dividend of ฿0.29 per shareEligible shareholders must have bought the stock before 07 May 2021. Payment date: 20 May 2021. Trailing yield: 1.8%. Lower than top quartile of Thai dividend payers (4.8%). In line with average of industry peers (1.7%).Valuation Update With 7 Day Price Move • Apr 28Investor sentiment improved over the past weekAfter last week's 15% share price gain to ฿16.70, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 13x in the Packaging industry in Thailand. Total returns to shareholders of 18% over the past three years.Valuation Update With 7 Day Price Move • Apr 12Investor sentiment improved over the past weekAfter last week's 23% share price gain to ฿14.30, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 12x in the Packaging industry in Thailand. Total loss to shareholders of 8.2% over the past three years.Reported Earnings • Feb 27Full year 2020 earnings released: EPS ฿0.99 (vs ฿0.53 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿4.03b (up 6.2% from FY 2019). Net income: ฿322.0m (up 132% from FY 2019). Profit margin: 8.0% (up from 3.7% 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 42% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.Is New 90 Day High Low • Dec 08New 90-day low: ฿12.40The company is down 3.0% from its price of ฿12.80 on 09 September 2020. The Thai market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Packaging industry, which is flat over the same period.Reported Earnings • Nov 16Third quarter 2020 earnings released: EPS ฿0.24The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿1.05b (up 19% from 3Q 2019). Net income: ฿79.8m (up 357% from 3Q 2019). Profit margin: 7.6% (up from 2.0% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.Is New 90 Day High Low • Sep 29New 90-day high: ฿13.90The company is up 13% from its price of ฿12.30 on 01 July 2020. The Thai market is down 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Packaging industry, which is up 19% over the same period.지급의 안정성과 성장배당 데이터 가져오는 중안정적인 배당: TPAC 의 배당금 지급은 지난 10 년 동안 휘발성이었습니다.배당금 증가: TPAC 의 배당금 지급은 지난 10 년 동안 증가했습니다.배당 수익률 vs 시장Thai Plaspac 배당 수익률 vs 시장TPAC의 배당 수익률은 시장과 어떻게 비교되나요?구분배당 수익률회사 (TPAC)5.0%시장 하위 25% (TH)3.4%시장 상위 25% (TH)7.5%업계 평균 (Packaging)3.6%분석가 예측 (TPAC) (최대 3년)5.0%주목할만한 배당금: TPAC 의 배당금( 5.01% )은 TH 시장에서 배당금 지급자의 하위 25%( 3.43% )보다 높습니다.고배당: TPAC 의 배당금( 5.01% )은 TH 시장에서 배당금 지급자의 상위 25%( 7.55% )와 비교해 낮습니다.주주 대상 이익 배당수익 보장: 합리적으로 낮은 지불 비율 ( 28.8% )로 TPAC 의 배당금 지급은 수익으로 충분히 충당됩니다.주주 현금 배당현금 흐름 범위: 현금 지급 비율 ( 16.5% )이 낮기 때문에 TPAC 의 배당금 지급은 현금 흐름으로 잘 충당됩니다.높은 배당을 제공하는 우량 기업 찾기7D1Y7D1Y7D1YTH 시장에서 배당이 강한 기업.View Management기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/14 11:07종가2026/05/14 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 소스Thai Plaspac Public Company Limited는 2명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Nat PanassutrakornKGI Securities Co. Ltd.Natchapon PraesicharoenYuanta Securities (Thailand) Company Limited
Upcoming Dividend • May 01Upcoming dividend of ฿0.44 per shareEligible shareholders must have bought the stock before 08 May 2026. Payment date: 27 May 2026. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (3.6%).
Declared Dividend • Mar 04Dividend increased to ฿0.44Dividend of ฿0.44 is 15% higher than last year. Ex-date: 8th May 2026 Payment date: 27th May 2026 Dividend yield will be 4.8%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 4.3% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 8.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
공시 • Mar 03Thai Plaspac Public Company Limited announces Annual dividend, payable on May 27, 2026Thai Plaspac Public Company Limited announced Annual dividend of THB 0.4380 per share payable on May 27, 2026, ex-date on May 08, 2026 and record date on May 11, 2026.
Upcoming Dividend • May 01Upcoming dividend of ฿0.38 per shareEligible shareholders must have bought the stock before 08 May 2025. Payment date: 23 May 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Thai dividend payers (7.9%). In line with average of industry peers (4.8%).
공시 • Mar 01+ 1 more updateThai Plaspac Public Company Limited Proposes Cash Dividend for the Operating Period from 01 Jan. 2024 to 31 Dec. 2024, Payable on 23 May 2025Thai Plaspac Public Company Limited proposed cash dividend payment of THB 0.38 per share for Common shareholders or THB 124,089,000 for the Operating period from 01 Jan. 2024 to 31 Dec. 2024 to the Annual General Meeting of Shareholders to be held on 30 Apr. 2025, at Date of Board resolution on 28 Feb. 2025. Record date for the right to receive dividends 09 May 2025. Ex-dividend date 08 May 2025. Payment date 23 May 2025.
Upcoming Dividend • May 02Upcoming dividend of ฿0.45 per shareEligible shareholders must have bought the stock before 09 May 2024. Payment date: 24 May 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Thai dividend payers (6.0%). Higher than average of industry peers (2.6%).
Reported Earnings • May 11First quarter 2026 earnings released: EPS: ฿0.43 (vs ฿0.37 in 1Q 2025)First quarter 2026 results: EPS: ฿0.43 (up from ฿0.37 in 1Q 2025). Revenue: ฿1.82b (flat on 1Q 2025). Net income: ฿141.4m (up 17% from 1Q 2025). Profit margin: 7.8% (up from 6.6% in 1Q 2025). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings.
Upcoming Dividend • May 01Upcoming dividend of ฿0.44 per shareEligible shareholders must have bought the stock before 08 May 2026. Payment date: 27 May 2026. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (3.6%).
Reported Earnings • Mar 04Full year 2025 earnings released: EPS: ฿1.46 (vs ฿1.27 in FY 2024)Full year 2025 results: EPS: ฿1.46 (up from ฿1.27 in FY 2024). Revenue: ฿6.89b (down 5.6% from FY 2024). Net income: ฿477.0m (up 15% from FY 2024). Profit margin: 6.9% (up from 5.7% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.
Declared Dividend • Mar 04Dividend increased to ฿0.44Dividend of ฿0.44 is 15% higher than last year. Ex-date: 8th May 2026 Payment date: 27th May 2026 Dividend yield will be 4.8%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 4.3% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 8.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
공시 • Mar 03Thai Plaspac Public Company Limited announces Annual dividend, payable on May 27, 2026Thai Plaspac Public Company Limited announced Annual dividend of THB 0.4380 per share payable on May 27, 2026, ex-date on May 08, 2026 and record date on May 11, 2026.
공시 • Mar 02Thai Plaspac Public Company Limited, Annual General Meeting, Apr 30, 2026Thai Plaspac Public Company Limited, Annual General Meeting, Apr 30, 2026, at 14:00 SE Asia Standard Time.
Reported Earnings • Nov 08Third quarter 2025 earnings released: EPS: ฿0.37 (vs ฿0.30 in 3Q 2024)Third quarter 2025 results: EPS: ฿0.37 (up from ฿0.30 in 3Q 2024). Revenue: ฿1.69b (down 7.5% from 3Q 2024). Net income: ฿121.3m (up 22% from 3Q 2024). Profit margin: 7.2% (up from 5.4% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.8% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Packaging industry in Asia. 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 19% per year, which means it is significantly lagging earnings.
Reported Earnings • Aug 09Second quarter 2025 earnings released: EPS: ฿0.27 (vs ฿0.33 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.27 (down from ฿0.33 in 2Q 2024). Revenue: ฿1.69b (down 9.3% from 2Q 2024). Net income: ฿88.3m (down 19% from 2Q 2024). Profit margin: 5.2% (down from 5.8% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 2 years, compared to a 9.5% growth forecast for the Packaging industry in Asia. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.
Upcoming Dividend • May 01Upcoming dividend of ฿0.38 per shareEligible shareholders must have bought the stock before 08 May 2025. Payment date: 23 May 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Thai dividend payers (7.9%). In line with average of industry peers (4.8%).
Reported Earnings • Mar 02Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: ฿1.27 (down from ฿1.50 in FY 2023). Revenue: ฿7.30b (up 5.9% from FY 2023). Net income: ฿414.1m (down 16% from FY 2023). Profit margin: 5.7% (down from 7.1% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.5%. Revenue is forecast to grow 5.6% p.a. on average during the next 2 years, compared to a 7.0% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.
공시 • Mar 01+ 1 more updateThai Plaspac Public Company Limited Proposes Cash Dividend for the Operating Period from 01 Jan. 2024 to 31 Dec. 2024, Payable on 23 May 2025Thai Plaspac Public Company Limited proposed cash dividend payment of THB 0.38 per share for Common shareholders or THB 124,089,000 for the Operating period from 01 Jan. 2024 to 31 Dec. 2024 to the Annual General Meeting of Shareholders to be held on 30 Apr. 2025, at Date of Board resolution on 28 Feb. 2025. Record date for the right to receive dividends 09 May 2025. Ex-dividend date 08 May 2025. Payment date 23 May 2025.
공시 • Dec 05Thai Plaspac Public Company Limited NVDR SHARES Depositary Receipts to Be Deleted from OTC EquityThai Plaspac Public Company Limited NVDR SHARES Depositary Receipts will be deleted from OTC Equity effective December 04, 2024, due to Inactive Security.
Reported Earnings • Nov 12Third quarter 2024 earnings released: EPS: ฿0.30 (vs ฿0.44 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.30 (down from ฿0.44 in 3Q 2023). Revenue: ฿1.83b (up 6.2% from 3Q 2023). Net income: ฿99.2m (down 31% from 3Q 2023). Profit margin: 5.4% (down from 8.3% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Packaging industry in Thailand. 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 14% per year, which means it is significantly lagging earnings.
New Risk • Nov 04New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: ฿3.36b (US$99.8m) 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: Minor Risks High level of debt (95% 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 (฿3.36b market cap, or US$99.8m).
Reported Earnings • Aug 10Second quarter 2024 earnings: EPS misses analyst expectationsSecond quarter 2024 results: EPS: ฿0.33 (down from ฿0.35 in 2Q 2023). Revenue: ฿1.86b (up 12% from 2Q 2023). Net income: ฿108.7m (down 4.9% from 2Q 2023). Profit margin: 5.8% (down from 6.9% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 9.8% 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, earnings per share has increased by 40% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • Jun 28Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ฿11.90, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 12x in the Packaging industry in Thailand. Total loss to shareholders of 36% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿23.29 per share.
Reported Earnings • May 12First quarter 2024 earnings released: EPS: ฿0.42 (vs ฿0.42 in 1Q 2023)First quarter 2024 results: EPS: ฿0.42 (down from ฿0.42 in 1Q 2023). Revenue: ฿1.86b (up 4.7% from 1Q 2023). Net income: ฿136.4m (down 1.7% from 1Q 2023). Profit margin: 7.3% (down from 7.8% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.9% p.a. on average during the next 2 years, compared to a 7.6% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.
Upcoming Dividend • May 02Upcoming dividend of ฿0.45 per shareEligible shareholders must have bought the stock before 09 May 2024. Payment date: 24 May 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Thai dividend payers (6.0%). Higher than average of industry peers (2.6%).
Declared Dividend • Mar 22Dividend increased to ฿0.45Dividend of ฿0.45 is 54% higher than last year. Ex-date: 9th May 2024 Payment date: 24th May 2024 Dividend yield will be 2.9%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has increased by an average of 3.5% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 28% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
Valuation Update With 7 Day Price Move • Mar 01Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ฿15.10, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Packaging industry in Thailand. Total returns to shareholders of 32% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿27.27 per share.
Reported Earnings • Feb 24Full year 2023 earnings: EPS and revenues miss analyst expectationsFull year 2023 results: EPS: ฿1.50 (up from ฿0.98 in FY 2022). Revenue: ฿6.89b (down 2.6% from FY 2022). Net income: ฿490.2m (up 54% from FY 2022). Profit margin: 7.1% (up from 4.5% in FY 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) also missed analyst estimates by 6.3%. Revenue is forecast to grow 8.2% p.a. on average during the next 2 years, compared to a 30% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.
공시 • Feb 24+ 1 more updateThai Plaspac Public Company Limited, Annual General Meeting, Apr 29, 2024Thai Plaspac Public Company Limited, Annual General Meeting, Apr 29, 2024, at 14:00 SE Asia Standard Time. Agenda: To consider and approve the audited consolidated financial statements of the Company and its subsidiaries for the year ended 31 December 2023; to consider and approve the allocation of profit from the operating results for the year ended 31 December 2023, as statutory reserve and as dividend payment; to consider and approve the election of directors to replace those who retire by rotation; to consider and approve the remuneration of directors for the year ended 31 December 2024; and to consider other matters.
Reported Earnings • Nov 14Third quarter 2023 earnings released: EPS: ฿0.44 (vs ฿0.24 in 3Q 2022)Third quarter 2023 results: EPS: ฿0.44 (up from ฿0.24 in 3Q 2022). Revenue: ฿1.72b (down 6.7% from 3Q 2022). Net income: ฿143.3m (up 82% from 3Q 2022). Profit margin: 8.3% (up from 4.3% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
Buying Opportunity • Oct 26Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 24%. The fair value is estimated to be ฿17.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 15%. Revenue is forecast to grow by 12% in 2 years. Earnings is forecast to grow by 42% in the next 2 years.
Reported Earnings • Aug 12Second quarter 2023 earnings released: EPS: ฿0.35 (vs ฿0.14 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.35 (up from ฿0.14 in 2Q 2022). Revenue: ฿1.66b (down 8.6% from 2Q 2022). Net income: ฿114.3m (up 151% from 2Q 2022). Profit margin: 6.9% (up from 2.5% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 14% per year.
Reported Earnings • May 18First quarter 2023 earnings released: EPS: ฿0.43 (vs ฿0.27 in 1Q 2022)First quarter 2023 results: EPS: ฿0.43 (up from ฿0.27 in 1Q 2022). Revenue: ฿1.78b (up 8.1% from 1Q 2022). Net income: ฿138.9m (up 57% from 1Q 2022). Profit margin: 7.8% (up from 5.4% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth.
Upcoming Dividend • May 02Upcoming dividend of ฿0.29 per share at 2.0% yieldEligible shareholders must have bought the stock before 09 May 2023. Payment date: 25 May 2023. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Thai dividend payers (6.2%). Lower than average of industry peers (2.4%).
Board Change • Nov 16Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Kittiphat Suthisamphat was the last independent director to join the board, commencing their role in 2015. 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 • Aug 16Second quarter 2022 earnings released: EPS: ฿0.14 (vs ฿0.16 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.14 (down from ฿0.16 in 2Q 2021). Revenue: ฿1.82b (up 58% from 2Q 2021). Net income: ฿45.5m (down 10% from 2Q 2021). Profit margin: 2.5% (down from 4.4% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 2.5%, compared to a 7.1% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.
Reported Earnings • May 16First quarter 2022 earnings: Revenues exceed analyst expectationsFirst quarter 2022 results: Revenue: ฿1.64b (up 49% from 1Q 2021). Net income: ฿88.3m (up ฿108.4m from 1Q 2021). Profit margin: 5.4% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 7.1%. Over the next year, revenue is forecast to grow 13%, 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 20% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • May 02Upcoming dividend of ฿0.14 per shareEligible shareholders must have bought the stock before 09 May 2022. Payment date: 20 May 2022. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Thai dividend payers (5.1%). Lower than average of industry peers (2.3%).
Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Kittiphat Suthisamphat was the last independent director to join the board, commencing their role in 2015. 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 • Mar 02Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2021 results: EPS: ฿0.47 (down from ฿0.99 in FY 2020). Revenue: ฿5.25b (up 30% from FY 2020). Net income: ฿152.9m (down 53% from FY 2020). Profit margin: 2.9% (down from 8.0% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 7.1%. Earnings per share (EPS) missed analyst estimates by 18%. Over the next year, revenue is forecast to grow 22%, compared to a 11% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Nov 11Third quarter 2021 earnings released: EPS ฿0.16 (vs ฿0.24 in 3Q 2020)The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: ฿1.41b (up 35% from 3Q 2020). Net income: ฿50.4m (down 37% from 3Q 2020). Profit margin: 3.6% (down from 7.6% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Aug 13Second quarter 2021 earnings released: EPS ฿0.14 (vs ฿0.27 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: ฿1.15b (up 22% from 2Q 2020). Net income: ฿50.8m (down 42% from 2Q 2020). Profit margin: 4.4% (down from 9.3% 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 48% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Jun 05Investor sentiment improved over the past weekAfter last week's 20% share price gain to ฿19.00, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Packaging industry in Thailand. Total returns to shareholders of 63% over the past three years.
Reported Earnings • May 16First quarter 2021 earnings released: ฿0.06 loss per share (vs ฿0.28 profit in 1Q 2020)The company reported a soft first quarter result with weaker earnings and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: ฿1.10b (up 5.2% from 1Q 2020). Net loss: ฿20.1m (down 122% from profit in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • May 01Upcoming dividend of ฿0.29 per shareEligible shareholders must have bought the stock before 07 May 2021. Payment date: 20 May 2021. Trailing yield: 1.8%. Lower than top quartile of Thai dividend payers (4.8%). In line with average of industry peers (1.7%).
Valuation Update With 7 Day Price Move • Apr 28Investor sentiment improved over the past weekAfter last week's 15% share price gain to ฿16.70, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 13x in the Packaging industry in Thailand. Total returns to shareholders of 18% over the past three years.
Valuation Update With 7 Day Price Move • Apr 12Investor sentiment improved over the past weekAfter last week's 23% share price gain to ฿14.30, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 12x in the Packaging industry in Thailand. Total loss to shareholders of 8.2% over the past three years.
Reported Earnings • Feb 27Full year 2020 earnings released: EPS ฿0.99 (vs ฿0.53 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿4.03b (up 6.2% from FY 2019). Net income: ฿322.0m (up 132% from FY 2019). Profit margin: 8.0% (up from 3.7% 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 42% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
Is New 90 Day High Low • Dec 08New 90-day low: ฿12.40The company is down 3.0% from its price of ฿12.80 on 09 September 2020. The Thai market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Packaging industry, which is flat over the same period.
Reported Earnings • Nov 16Third quarter 2020 earnings released: EPS ฿0.24The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿1.05b (up 19% from 3Q 2019). Net income: ฿79.8m (up 357% from 3Q 2019). Profit margin: 7.6% (up from 2.0% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.
Is New 90 Day High Low • Sep 29New 90-day high: ฿13.90The company is up 13% from its price of ฿12.30 on 01 July 2020. The Thai market is down 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Packaging industry, which is up 19% over the same period.