View ValuationTTW 향후 성장Future 기준 점검 0/6TTW 의 수익은 연간 1.1% 감소할 것으로 예상되는 반면, 연간 수익은 2.1% 로 증가할 것으로 예상됩니다. EPS는 연간 1.9% 만큼 쇠퇴할 것으로 예상됩니다. 자기자본이익률은 3년 후 17.9% 로 예상됩니다.핵심 정보-1.1%이익 성장률-1.92%EPS 성장률Water Utilities 이익 성장6.5%매출 성장률2.1%향후 자기자본이익률17.90%애널리스트 커버리지Low마지막 업데이트17 Apr 2026최근 향후 성장 업데이트Price Target Changed • Oct 18Price target decreased to ฿9.80Down from ฿11.33, the current price target is an average from 2 analysts. New target price is 17% above last closing price of ฿8.35. Stock is down 29% over the past year. The company is forecast to post earnings per share of ฿0.75 for next year compared to ฿0.78 last year.Price Target Changed • Mar 09Price target decreased to ฿11.57Down from ฿13.03, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of ฿11.10. Stock is down 6.7% over the past year. The company is forecast to post earnings per share of ฿0.79 for next year compared to ฿0.78 last year.Price Target Changed • Apr 08Price target decreased to ฿12.57Down from ฿13.53, the current price target is an average from 3 analysts. New target price is 7.4% above last closing price of ฿11.70. Stock is down 12% over the past year.Price Target Changed • Dec 16Price target lowered to ฿13.70Down from ฿15.00, the current price target is an average from 4 analysts. The new target price is 9.6% above the current share price of ฿12.50. As of last close, the stock is down 8.1% over the past year.Price Target Changed • Oct 16Price target lowered to ฿13.98Down from ฿15.05, the current price target is an average from 4 analysts. The new target price is 17% above the current share price of ฿11.90. As of last close, the stock is down 13% over the past year.모든 업데이트 보기Recent updatesReported Earnings • Feb 28Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2025 results: EPS: ฿0.82 (up from ฿0.70 in FY 2024). Revenue: ฿5.25b (up 2.8% from FY 2024). Net income: ฿3.27b (up 17% from FY 2024). Profit margin: 62% (up from 55% in FY 2024). The increase in margin was primarily driven by lower expenses. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) exceeded analyst estimates by 2.9%. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 1% per year.공지 • Feb 27TTW Public Company Limited Proposes Dividend for the Operating Period from July 1 to December 31, 2025, Payable on April 28, 2025The Board of TTW Public Company Limited at its Annual General Meeting of Shareholders to be held on April 9, 2026 proposed an cash dividend of THB 0.30 per share, totaling THB 1,197 million, for the operating period from July 1 to December 31, 2025. Record date: March 11, 2026; Ex-dividend date: March 10, 2026; Payment date: April 28, 2026. Dividend is payable to common shareholders.Declared Dividend • Feb 26Dividend of ฿0.30 announcedDividend of ฿0.30 is the same as last year. Ex-date: 10th March 2026 Payment date: 28th April 2026 Dividend yield will be 6.3%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by both earnings (75% earnings payout ratio) and cash flows (89.6% cash payout ratio). The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. EPS is expected to decline by 3.1% over the next 3 years. However, it would need to fall by 17% to increase the payout ratio to a potentially unsustainable range.공지 • Feb 25TTW Public Company Limited, Annual General Meeting, Apr 09, 2026TTW Public Company Limited, Annual General Meeting, Apr 09, 2026, at 14:00 SE Asia Standard Time.Reported Earnings • Nov 12Third quarter 2025 earnings: EPS exceeds analyst expectationsThird quarter 2025 results: EPS: ฿0.24 (up from ฿0.23 in 3Q 2024). Revenue: ฿1.33b (up 3.0% from 3Q 2024). Net income: ฿976.2m (up 6.6% from 3Q 2024). Profit margin: 73% (up from 71% in 3Q 2024). The increase in margin was primarily driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.3%. Revenue is forecast to stay flat during the next 3 years compared to a 4.8% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 1% per year.공지 • Nov 08TTW Public Company Limited to Report Q3, 2025 Results on Nov 11, 2025TTW Public Company Limited announced that they will report Q3, 2025 results on Nov 11, 2025Declared Dividend • Aug 30First half dividend of ฿0.30 announcedDividend of ฿0.30 is the same as last year. Ex-date: 10th September 2025 Payment date: 26th September 2025 Dividend yield will be 6.6%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by earnings (38% earnings payout ratio) but not adequately covered by cash flows (98% cash payout ratio). The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. EPS is expected to decline by 3.3% over the next 3 years. However, it would need to fall by 58% to increase the payout ratio to a potentially unsustainable range.Reported Earnings • Aug 14Second quarter 2025 earnings: Revenues and EPS in line with analyst expectationsSecond quarter 2025 results: EPS: ฿0.20 (up from ฿0.16 in 2Q 2024). Revenue: ฿1.30b (up 1.7% from 2Q 2024). Net income: ฿796.6m (up 28% from 2Q 2024). Profit margin: 61% (up from 49% in 2Q 2024). The increase in margin was primarily driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 4.9% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 4% per year.New Risk • Jun 16New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.2% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risk Earnings are forecast to decline by an average of 1.2% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (98% cash payout ratio).Buy Or Sell Opportunity • May 27Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 2.8% to ฿8.75. The fair value is estimated to be ฿10.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.0% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 2.9% in a year. Earnings are forecast to decline by 1.7% in the next year.Reported Earnings • May 14First quarter 2025 earnings: EPS exceeds analyst expectationsFirst quarter 2025 results: EPS: ฿0.17 (up from ฿0.13 in 1Q 2024). Revenue: ฿1.28b (up 2.2% from 1Q 2024). Net income: ฿668.7m (up 33% from 1Q 2024). Profit margin: 52% (up from 40% in 1Q 2024). The increase in margin was primarily driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.3%. Revenue is forecast to grow 2.2% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 6% per year.공지 • Apr 10TTW Public Company Limited Approves Dividend for the Second Half of 2024, Payable on 28 April 2025TTW Public Company Limited at its AGM held on April 10, 2025, the meeting passed the resolution by approving the additional 2024 dividend payment of THB 0.30 per share or totally THB 1,197 million to its shareholders. The dividend payment resulted from 20% taxable profit of second half of 2024, which individual shareholders shall be entitled amount to tax credited. The Company determined the list of shareholders entitled to receive dividends on 12 March 2025. Dividend payment shall be made on 28 April 2025. Thus, the company has paid the dividend for the year 2024 at the rate THB 0.60 per share.Declared Dividend • Feb 28Final dividend of ฿0.30 announcedDividend of ฿0.30 is the same as last year. Ex-date: 11th March 2025 Payment date: 28th April 2025 Dividend yield will be 6.6%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by earnings (84% earnings payout ratio) but not adequately covered by cash flows (93% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. EPS is expected to grow by 2.9% over the next 2 years, which should provide support to the dividend and adequate earnings cover.공지 • Feb 27+ 3 more updatesTTW Public Company Limited Announces Executive ChangesTTW Public Company Limited announced that resolved to appoint Mr. Phakpoom Thaweewittayarut as Company Secretary in replacement of Ms. Sudarat Chiamchan who retired from her position, effective from February 27, 2025, onwards.Reported Earnings • Feb 27Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: ฿0.70 (down from ฿0.73 in FY 2023). Revenue: ฿5.11b (down 13% from FY 2023). Net income: ฿2.79b (down 4.8% from FY 2023). Profit margin: 55% (up from 50% in FY 2023). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.4%. Revenue is forecast to stay flat during the next 2 years compared to a 4.9% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 8% per year.공지 • Feb 26TTW Public Company Limited, Annual General Meeting, Apr 10, 2025TTW Public Company Limited, Annual General Meeting, Apr 10, 2025, at 14:00 SE Asia Standard Time. Location: electronics meeting, ThailandDeclared Dividend • Aug 31First half dividend of ฿0.30 announcedDividend of ฿0.30 is the same as last year. Ex-date: 12th September 2024 Payment date: 27th September 2024 Dividend yield will be 6.5%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by both earnings (42% earnings payout ratio) and cash flows (75% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. EPS is expected to remain steady over the next 3 years, which should provide adequate earnings cover for the dividend.공지 • Aug 29TTW Public Company Limited Announces Cash Dividend for the Operating Period from January 1, 2024 to June 30, 2024, Payable on September 27, 2024TTW Public Company Limited announced cash dividend of THB 0.30 per share for the operating period from January 1, 2024 to June 30, 2024. Record date for the right to receive dividends is September 13, 2024. Ex-date is September 12, 2024. Payment date is September 27, 2024.Reported Earnings • Aug 14Second quarter 2024 earnings: EPS in line with analyst expectations despite revenue beatSecond quarter 2024 results: EPS: ฿0.16 (down from ฿0.16 in 2Q 2023). Revenue: ฿1.28b (down 16% from 2Q 2023). Net income: ฿622.7m (flat on 2Q 2023). Profit margin: 49% (up from 41% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is expected to decline by 1.4% p.a. on average during the next 3 years, while revenues in the Water Utilities industry in Asia are expected to grow by 6.2%. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 9% per year.Reported Earnings • May 15First quarter 2024 earnings released: EPS: ฿0.13 (vs ฿0.15 in 1Q 2023)First quarter 2024 results: EPS: ฿0.13 (down from ฿0.15 in 1Q 2023). Revenue: ฿1.25b (down 16% from 1Q 2023). Net income: ฿503.2m (down 15% from 1Q 2023). Profit margin: 40% (in line with 1Q 2023). Revenue is expected to decline by 2.6% p.a. on average during the next 3 years, while revenues in the Water Utilities industry in Asia are expected to grow by 7.2%. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 9% per year.공지 • Apr 12TTW Public Company Limited Approves Dividend, Payable on April 25, 2024TTW Public Company Limited at its annual general meeting held on April 11, 2024, approved the additional of 2023 dividend payment of THB 0.30 per share or totally of THB 1,197,000,000 to its shareholder, paid from the net profit without withholding tax that can be tax credited. The Company determined the list of shareholders entitled to receive a dividend on March 8, 2024. The dividend payment shall be made on April 25, 2024. Thus, the company has paid the dividend for the year 2023 at the rate THB 0.60 per share.Upcoming Dividend • Feb 29Upcoming dividend of ฿0.30 per shareEligible shareholders must have bought the stock before 07 March 2024. Payment date: 25 April 2024. Payout ratio is on the higher end at 82%, however this is supported by cash flows. Trailing yield: 6.3%. Within top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (5.0%).Declared Dividend • Feb 24Final dividend of ฿0.30 announcedDividend of ฿0.30 is the same as last year. Ex-date: 7th March 2024 Payment date: 25th April 2024 Dividend yield will be 6.1%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by both earnings (82% earnings payout ratio) and cash flows (67% cash payout ratio). The dividend has increased by an average of 1.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 1.6% over the next 2 years, which should provide support to the dividend and adequate earnings cover.공지 • Feb 23TTW Public Company Limited, Annual General Meeting, Apr 11, 2024TTW Public Company Limited, Annual General Meeting, Apr 11, 2024, at 14:00 SE Asia Standard Time. Agenda: To consider and approve the Minutes of the 2023 Annual Ordinary General Meeting of Shareholders; to acknowledge of 2023 Annual Performance Report; to consider and approve the 2023 Financial Statement and Comprehensive income statement; to consider and approve the Dividend Payment; to consider and approve the appointment of Auditor and Determination of Remuneration; to consider and approve the election of directors in replacement of those retired by rotation; to consider and approve the Determination of Director's Remuneration; and to consider any other matters.Reported Earnings • Feb 23Full year 2023 earnings released: EPS: ฿0.73 (vs ฿0.74 in FY 2022)Full year 2023 results: EPS: ฿0.73 (down from ฿0.74 in FY 2022). Revenue: ฿5.85b (up 2.6% from FY 2022). Net income: ฿2.93b (down 1.2% from FY 2022). Profit margin: 50% (down from 52% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 5.3% p.a. on average during the next 2 years, while revenues in the Water Utilities industry in Asia are expected to grow by 8.2%. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 6% per year.공지 • Feb 22TTW Public Company Limited Proposes Interim Dividend for 2023, Payable on April 25, 2024TTW Public Company Limited announced that the Board of Directors meeting No.1/2024 held on February 22, 2024, proposed for approval of an additional 2023 Dividend payment at the rate of THB 0.30 per share or a total amount of THB 1,197 million. The dividend payment resulted from Second half of 2023 taxable profit. This is in addition to an interim dividend payment previously paid at the rate of THB 0.30. Thus, the total 2023 dividend payment is at the rate of THB 0.60 per share. The Record Date specifies the list of shareholders entitled to receive dividend is March 8, 2024, and the dividend payment date is set on April 25, 2024.New Risk • Jan 23New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.6% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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. This is currently the only risk that has been identified for the company.공지 • Dec 08TTW Public Company Limited Approves Board ChangesTTW Public Company Limited hereby notifies that, the Board of Directors Meeting No.6/2023 held on December 7, 2023, passed resolutions as follows: Acknowledged the resignation from office of Mr.Kaoru Umehara and approved the appointment of Mr.Tadashi Ishizuka replacing as Board of Directors, members of the Nomination and Remuneration Committee being effective from December 7, 2023, and the names of directors authorized to sign and bind the Company.Reported Earnings • Nov 10Third quarter 2023 earnings: Revenues and EPS in line with analyst expectationsThird quarter 2023 results: EPS: ฿0.23 (down from ฿0.24 in 3Q 2022). Revenue: ฿1.54b (up 7.1% from 3Q 2022). Net income: ฿896.7m (down 7.0% from 3Q 2022). Profit margin: 58% (down from 67% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 11% p.a. on average during the next 3 years, while revenues in the Water Utilities industry in Asia are expected to grow by 7.6%. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 9% per year.Upcoming Dividend • Aug 29Upcoming dividend of ฿0.30 per share at 6.7% yieldEligible shareholders must have bought the stock before 05 September 2023. Payment date: 21 September 2023. Payout ratio is on the higher end at 87%, however this is supported by cash flows. Trailing yield: 6.7%. Within top quartile of Thai dividend payers (6.2%). Higher than average of industry peers (4.3%).공지 • Aug 22TTW Public Company Limited Announces Cash Dividend for the Operating Period from January 1, 2023 to June 30, 2023, Payable on September 21, 2023TTW Public Company Limited announced cash dividend of THB 0.30 per share for the operating period from January 1, 2023 to June 30, 2023. Record date for the right to receive dividends is September 6, 2023. Ex-date is September 5, 2023. Payment date is September 21, 2023.Reported Earnings • Aug 11Second quarter 2023 earnings: EPS exceeds analyst expectationsSecond quarter 2023 results: EPS: ฿0.16 (down from ฿0.20 in 2Q 2022). Revenue: ฿1.52b (up 6.8% from 2Q 2022). Net income: ฿624.9m (down 24% from 2Q 2022). Profit margin: 41% (down from 57% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.3%. Revenue is expected to decline by 12% p.a. on average during the next 3 years, while revenues in the Water Utilities industry in Asia are expected to grow by 8.6%. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings.공지 • Jun 09TTW Public Company Limited Announces Board ChangesTTW Public Company Limited announced that the board of directors meeting No.3/2023 held on June 8, 2023 passed resolutions acknowledged the Director resigned as member of the board of directors of Mr. Hideo Matsumoto effective from 7 June 2023 and approved the appointment of Mr. Kenichi Ishida to be member of the board of directors, Executive Committee and Risk Management and Corporate Governance Committee effective from 8 June 2023 onwards. Thus, the board of directors will comprise of: 1. Dr. Thanong Bidaya; 2. Mr.Plew Trivisvavet; 3. Mr.Phongsarit Tantisuvanitchkul; 4. Mr.Phairuch Mekarporn; 5. Mr.Somnuk Chaidejsuriya; 6. Mr.Yuttana Yimgarund; 7. Dr. Sombat Kitjalaksana; 8. Mr.Suvich Pungchareon; 9. Mrs. Payao Marittanaporn; 10. Mr.Kaoru Umehara; 11. Mr.Kenichi Ishida; 12. Ms.Walainut Trivisvavet.Buying Opportunity • Mar 08Now 23% undervalued after recent price dropOver the last 90 days, the stock is down 1.1%. The fair value is estimated to be ฿11.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.4% over the last 3 years, while earnings per share has been flat. Revenue is forecast to decline by 23% in 2 years. Earnings is forecast to decline by 1.7% in the next 2 years.Upcoming Dividend • Mar 01Upcoming dividend of ฿0.30 per share at 6.5% yieldEligible shareholders must have bought the stock before 08 March 2023. Payment date: 25 April 2023. Payout ratio is on the higher end at 81%, however this is supported by cash flows. Trailing yield: 6.5%. Within top quartile of Thai dividend payers (5.6%). Higher than average of industry peers (4.1%).Reported Earnings • Feb 24Full year 2022 earnings: EPS misses analyst expectationsFull year 2022 results: EPS: ฿0.74 (down from ฿0.78 in FY 2021). Revenue: ฿5.70b (down 2.0% from FY 2021). Net income: ฿2.97b (down 4.4% from FY 2021). Profit margin: 52% (down from 53% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.6%. Revenue is expected to decline by 12% p.a. on average during the next 2 years, while revenues in the Water Utilities industry in Asia are expected to grow by 10%. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings.Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Director Yuttana Yimgarund was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Price Target Changed • Oct 18Price target decreased to ฿9.80Down from ฿11.33, the current price target is an average from 2 analysts. New target price is 17% above last closing price of ฿8.35. Stock is down 29% over the past year. The company is forecast to post earnings per share of ฿0.75 for next year compared to ฿0.78 last year.Buying Opportunity • Oct 07Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 15%. The fair value is estimated to be ฿11.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to decline by 12% in 2 years. Earnings is forecast to decline by 4.8% in the next 2 years.Upcoming Dividend • Aug 30Upcoming dividend of ฿0.30 per shareEligible shareholders must have bought the stock before 06 September 2022. Payment date: 21 September 2022. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 5.7%. Within top quartile of Thai dividend payers (5.5%). Higher than average of industry peers (4.1%).Reported Earnings • Aug 14Second quarter 2022 earnings released: EPS: ฿0.20 (vs ฿0.21 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.20 (down from ฿0.21 in 2Q 2021). Revenue: ฿1.43b (down 3.3% from 2Q 2021). Net income: ฿819.6m (down 4.3% from 2Q 2021). Profit margin: 57% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 1.5%, compared to a 9.9% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.Reported Earnings • May 15First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: ฿0.15 (down from ฿0.18 in 1Q 2021). Revenue: ฿1.41b (down 4.4% from 1Q 2021). Net income: ฿613.3m (down 13% from 1Q 2021). Profit margin: 44% (down from 48% in 1Q 2021). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 5.7%. Earnings per share (EPS) also missed analyst estimates by 6.3%. Over the next year, revenue is forecast to stay flat compared to a 8.4% growth forecast for the industry in Thailand. 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 5% per year, which means it is significantly lagging earnings.Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Director Yuttana Yimgarund was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Price Target Changed • Mar 09Price target decreased to ฿11.57Down from ฿13.03, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of ฿11.10. Stock is down 6.7% over the past year. The company is forecast to post earnings per share of ฿0.79 for next year compared to ฿0.78 last year.Upcoming Dividend • Mar 01Upcoming dividend of ฿0.30 per shareEligible shareholders must have bought the stock before 08 March 2022. Payment date: 29 April 2022. Payout ratio is on the higher end at 77%, however this is supported by cash flows. Trailing yield: 5.2%. Within top quartile of Thai dividend payers (5.1%). Higher than average of industry peers (3.6%).Reported Earnings • Feb 24Full year 2021 earnings: EPS and revenues miss analyst expectationsFull year 2021 results: EPS: ฿0.78 (up from ฿0.74 in FY 2020). Revenue: ฿5.82b (down 6.1% from FY 2020). Net income: ฿3.10b (up 5.2% from FY 2020). Profit margin: 53% (up from 48% in FY 2020). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 6.6%. Over the next year, revenue is forecast to grow 3.0%, compared to a 4.3% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.Reported Earnings • Nov 12Third quarter 2021 earnings releasedThe company reported a mediocre third quarter result with weaker revenues, although earnings were flat and profit margins improved. Third quarter 2021 results: Revenue: ฿1.44b (down 7.3% from 3Q 2020). Net income: ฿930.9m (flat on 3Q 2020). Profit margin: 65% (up from 60% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 2% per year.Upcoming Dividend • Sep 01Upcoming dividend of ฿0.30 per shareEligible shareholders must have bought the stock before 08 September 2021. Payment date: 23 September 2021. Trailing yield: 5.0%. Within top quartile of Thai dividend payers (4.9%). Higher than average of industry peers (3.4%).Reported Earnings • May 14First quarter 2021 earnings released: EPS ฿0.18 (vs ฿0.16 in 1Q 2020)The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: ฿1.47b (down 4.5% from 1Q 2020). Net income: ฿701.8m (up 10.0% from 1Q 2020). Profit margin: 48% (up from 41% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.Price Target Changed • Apr 08Price target decreased to ฿12.57Down from ฿13.53, the current price target is an average from 3 analysts. New target price is 7.4% above last closing price of ฿11.70. Stock is down 12% over the past year.Upcoming Dividend • Mar 01Upcoming Dividend of ฿0.30 Per ShareWill be paid on the 30th of April to those who are registered shareholders by the 8th of March. The trailing yield of 4.9% is below the top quartile of Thai dividend payers (5.9%), but it is higher than industry peers (3.7%).Reported Earnings • Feb 25Full year 2020 earnings released: EPS ฿0.74 (vs ฿0.78 in FY 2019)The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: ฿6.19b (flat on FY 2019). Net income: ฿2.95b (down 5.6% from FY 2019). Profit margin: 48% (down from 51% in FY 2019). 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 4% per year, which means it is significantly lagging earnings.Analyst Estimate Surprise Post Earnings • Feb 25Revenue and earnings miss expectationsRevenue missed analyst estimates by 0.3%. Earnings per share (EPS) also missed analyst estimates by 3.9%. Over the next year, revenue is forecast to grow 1.3%, compared to a 5.4% growth forecast for the Water Utilities industry in Thailand.Is New 90 Day High Low • Feb 11New 90-day low: ฿11.90The company is down 1.0% from its price of ฿12.00 on 13 November 2020. The Thai market is up 14% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Water Utilities industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿18.94 per share.Price Target Changed • Dec 16Price target lowered to ฿13.70Down from ฿15.00, the current price target is an average from 4 analysts. The new target price is 9.6% above the current share price of ฿12.50. As of last close, the stock is down 8.1% over the past year.Analyst Estimate Surprise Post Earnings • Nov 11Revenue and earnings miss expectationsRevenue missed analyst estimates by 0.9%. Earnings per share (EPS) also missed analyst estimates by 6.1%. Over the next year, revenue is forecast to grow 1.6%, compared to a 5.5% growth forecast for the Water Utilities industry in Thailand.Reported Earnings • Nov 11Third quarter 2020 earnings released: EPS ฿0.23The company reported a solid third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2020 results: Revenue: ฿1.56b (flat on 3Q 2019). Net income: ฿929.4m (up 28% from 3Q 2019). Profit margin: 60% (up from 47% in 3Q 2019). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.Is New 90 Day High Low • Oct 27New 90-day low: ฿11.60The company is down 12% from its price of ฿13.20 on 29 July 2020. The Thai market is down 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Water Utilities industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿16.16 per share.Price Target Changed • Oct 16Price target lowered to ฿13.98Down from ฿15.05, the current price target is an average from 4 analysts. The new target price is 17% above the current share price of ฿11.90. As of last close, the stock is down 13% over the past year.Is New 90 Day High Low • Oct 09New 90-day low: ฿12.20The company is down 10.0% from its price of ฿13.50 on 10 July 2020. The Thai market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Water Utilities industry, which is down 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿16.16 per share.Is New 90 Day High Low • Sep 24New 90-day low: ฿12.90The company is down 5.0% from its price of ฿13.60 on 25 June 2020. The Thai market is also down 5.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Water Utilities industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿16.16 per share.이익 및 매출 성장 예측SET:TTW - 애널리스트 향후 추정치 및 과거 재무 데이터 (THB Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/20285,7313,319N/AN/A112/31/20275,3893,0524,0824,082312/31/20265,4043,1393,2783,954212/31/20255,2553,2662,8653,166N/A9/30/20255,2013,1912,6713,108N/A6/30/20255,1633,1302,4353,098N/A3/31/20255,1412,9562,4363,113N/A12/31/20245,1122,7912,5823,163N/A9/30/20245,1252,8572,7263,216N/A6/30/20245,3712,8393,1763,411N/A3/31/20245,6162,8413,3613,579N/A12/31/20235,8482,9323,5493,740N/A9/30/20235,9792,6873,6373,810N/A6/30/20235,8772,7543,5473,750N/A3/31/20235,7802,9493,5323,715N/A12/31/20225,7012,9673,5083,670N/A9/30/20225,6973,0113,4833,745N/A6/30/20225,7052,9783,4733,725N/A3/31/20225,7543,0153,4723,742N/A12/31/20215,8183,1043,4103,772N/A9/30/20215,9383,1793,6083,867N/A6/30/20216,0513,1784,1064,423N/A3/31/20216,1243,0153,5583,978N/A12/31/20206,1932,9513,7054,082N/A9/30/20206,1933,1963,7064,061N/A6/30/20206,1902,9923,2463,584N/A3/31/20206,1823,0283,7123,910N/A12/31/20196,1513,1283,8223,977N/A9/30/20196,1042,868N/A3,934N/A6/30/20196,0682,949N/A3,929N/A3/31/20196,0082,912N/A4,032N/A12/31/20185,9372,842N/A3,844N/A9/30/20185,9212,845N/A3,807N/A6/30/20185,8822,772N/A3,721N/A3/31/20185,8242,738N/A3,685N/A12/31/20175,7342,663N/A3,417N/A9/30/20175,5992,555N/A3,341N/A6/30/20175,4972,463N/A3,227N/A3/31/20175,4592,449N/A3,184N/A12/31/20165,4702,476N/A3,272N/A9/30/20165,5052,528N/A3,290N/A6/30/20165,5282,477N/A3,372N/A3/31/20165,5912,584N/A3,689N/A12/31/20155,5742,681N/A3,727N/A9/30/20155,4772,814N/A3,723N/A6/30/20155,4752,963N/A3,853N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: TTW 의 수익은 향후 3년간 감소할 것으로 예상됩니다(연간 -1.1%).수익 vs 시장: TTW 의 수익은 향후 3년간 감소할 것으로 예상됩니다(연간 -1.1%).고성장 수익: TTW 의 수익은 향후 3년간 감소할 것으로 예상됩니다.수익 대 시장: TTW 의 수익(연간 2.1%)이 TH 시장(연간 9.6%)보다 느리게 성장할 것으로 예상됩니다.고성장 매출: TTW 의 수익(연간 2.1%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: TTW의 자본 수익률은 3년 후 17.9%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YUtilities 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/06 07:18종가2026/05/06 00:00수익2025/12/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스TTW Public Company Limited는 14명의 분석가가 다루고 있습니다. 이 중 3명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Anuwat SrikajornratkulAsia Plus Securities Company LimitedThanatthep ChantarakarnBualuang Securities PCLMonchai JaturanpinyoCGS International11명의 분석가 더 보기
Price Target Changed • Oct 18Price target decreased to ฿9.80Down from ฿11.33, the current price target is an average from 2 analysts. New target price is 17% above last closing price of ฿8.35. Stock is down 29% over the past year. The company is forecast to post earnings per share of ฿0.75 for next year compared to ฿0.78 last year.
Price Target Changed • Mar 09Price target decreased to ฿11.57Down from ฿13.03, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of ฿11.10. Stock is down 6.7% over the past year. The company is forecast to post earnings per share of ฿0.79 for next year compared to ฿0.78 last year.
Price Target Changed • Apr 08Price target decreased to ฿12.57Down from ฿13.53, the current price target is an average from 3 analysts. New target price is 7.4% above last closing price of ฿11.70. Stock is down 12% over the past year.
Price Target Changed • Dec 16Price target lowered to ฿13.70Down from ฿15.00, the current price target is an average from 4 analysts. The new target price is 9.6% above the current share price of ฿12.50. As of last close, the stock is down 8.1% over the past year.
Price Target Changed • Oct 16Price target lowered to ฿13.98Down from ฿15.05, the current price target is an average from 4 analysts. The new target price is 17% above the current share price of ฿11.90. As of last close, the stock is down 13% over the past year.
Reported Earnings • Feb 28Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2025 results: EPS: ฿0.82 (up from ฿0.70 in FY 2024). Revenue: ฿5.25b (up 2.8% from FY 2024). Net income: ฿3.27b (up 17% from FY 2024). Profit margin: 62% (up from 55% in FY 2024). The increase in margin was primarily driven by lower expenses. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) exceeded analyst estimates by 2.9%. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 1% per year.
공지 • Feb 27TTW Public Company Limited Proposes Dividend for the Operating Period from July 1 to December 31, 2025, Payable on April 28, 2025The Board of TTW Public Company Limited at its Annual General Meeting of Shareholders to be held on April 9, 2026 proposed an cash dividend of THB 0.30 per share, totaling THB 1,197 million, for the operating period from July 1 to December 31, 2025. Record date: March 11, 2026; Ex-dividend date: March 10, 2026; Payment date: April 28, 2026. Dividend is payable to common shareholders.
Declared Dividend • Feb 26Dividend of ฿0.30 announcedDividend of ฿0.30 is the same as last year. Ex-date: 10th March 2026 Payment date: 28th April 2026 Dividend yield will be 6.3%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by both earnings (75% earnings payout ratio) and cash flows (89.6% cash payout ratio). The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. EPS is expected to decline by 3.1% over the next 3 years. However, it would need to fall by 17% to increase the payout ratio to a potentially unsustainable range.
공지 • Feb 25TTW Public Company Limited, Annual General Meeting, Apr 09, 2026TTW Public Company Limited, Annual General Meeting, Apr 09, 2026, at 14:00 SE Asia Standard Time.
Reported Earnings • Nov 12Third quarter 2025 earnings: EPS exceeds analyst expectationsThird quarter 2025 results: EPS: ฿0.24 (up from ฿0.23 in 3Q 2024). Revenue: ฿1.33b (up 3.0% from 3Q 2024). Net income: ฿976.2m (up 6.6% from 3Q 2024). Profit margin: 73% (up from 71% in 3Q 2024). The increase in margin was primarily driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.3%. Revenue is forecast to stay flat during the next 3 years compared to a 4.8% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 1% per year.
공지 • Nov 08TTW Public Company Limited to Report Q3, 2025 Results on Nov 11, 2025TTW Public Company Limited announced that they will report Q3, 2025 results on Nov 11, 2025
Declared Dividend • Aug 30First half dividend of ฿0.30 announcedDividend of ฿0.30 is the same as last year. Ex-date: 10th September 2025 Payment date: 26th September 2025 Dividend yield will be 6.6%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by earnings (38% earnings payout ratio) but not adequately covered by cash flows (98% cash payout ratio). The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. EPS is expected to decline by 3.3% over the next 3 years. However, it would need to fall by 58% to increase the payout ratio to a potentially unsustainable range.
Reported Earnings • Aug 14Second quarter 2025 earnings: Revenues and EPS in line with analyst expectationsSecond quarter 2025 results: EPS: ฿0.20 (up from ฿0.16 in 2Q 2024). Revenue: ฿1.30b (up 1.7% from 2Q 2024). Net income: ฿796.6m (up 28% from 2Q 2024). Profit margin: 61% (up from 49% in 2Q 2024). The increase in margin was primarily driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 4.9% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 4% per year.
New Risk • Jun 16New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.2% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risk Earnings are forecast to decline by an average of 1.2% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (98% cash payout ratio).
Buy Or Sell Opportunity • May 27Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 2.8% to ฿8.75. The fair value is estimated to be ฿10.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.0% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 2.9% in a year. Earnings are forecast to decline by 1.7% in the next year.
Reported Earnings • May 14First quarter 2025 earnings: EPS exceeds analyst expectationsFirst quarter 2025 results: EPS: ฿0.17 (up from ฿0.13 in 1Q 2024). Revenue: ฿1.28b (up 2.2% from 1Q 2024). Net income: ฿668.7m (up 33% from 1Q 2024). Profit margin: 52% (up from 40% in 1Q 2024). The increase in margin was primarily driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.3%. Revenue is forecast to grow 2.2% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 6% per year.
공지 • Apr 10TTW Public Company Limited Approves Dividend for the Second Half of 2024, Payable on 28 April 2025TTW Public Company Limited at its AGM held on April 10, 2025, the meeting passed the resolution by approving the additional 2024 dividend payment of THB 0.30 per share or totally THB 1,197 million to its shareholders. The dividend payment resulted from 20% taxable profit of second half of 2024, which individual shareholders shall be entitled amount to tax credited. The Company determined the list of shareholders entitled to receive dividends on 12 March 2025. Dividend payment shall be made on 28 April 2025. Thus, the company has paid the dividend for the year 2024 at the rate THB 0.60 per share.
Declared Dividend • Feb 28Final dividend of ฿0.30 announcedDividend of ฿0.30 is the same as last year. Ex-date: 11th March 2025 Payment date: 28th April 2025 Dividend yield will be 6.6%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by earnings (84% earnings payout ratio) but not adequately covered by cash flows (93% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. EPS is expected to grow by 2.9% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
공지 • Feb 27+ 3 more updatesTTW Public Company Limited Announces Executive ChangesTTW Public Company Limited announced that resolved to appoint Mr. Phakpoom Thaweewittayarut as Company Secretary in replacement of Ms. Sudarat Chiamchan who retired from her position, effective from February 27, 2025, onwards.
Reported Earnings • Feb 27Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: ฿0.70 (down from ฿0.73 in FY 2023). Revenue: ฿5.11b (down 13% from FY 2023). Net income: ฿2.79b (down 4.8% from FY 2023). Profit margin: 55% (up from 50% in FY 2023). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.4%. Revenue is forecast to stay flat during the next 2 years compared to a 4.9% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 8% per year.
공지 • Feb 26TTW Public Company Limited, Annual General Meeting, Apr 10, 2025TTW Public Company Limited, Annual General Meeting, Apr 10, 2025, at 14:00 SE Asia Standard Time. Location: electronics meeting, Thailand
Declared Dividend • Aug 31First half dividend of ฿0.30 announcedDividend of ฿0.30 is the same as last year. Ex-date: 12th September 2024 Payment date: 27th September 2024 Dividend yield will be 6.5%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by both earnings (42% earnings payout ratio) and cash flows (75% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. EPS is expected to remain steady over the next 3 years, which should provide adequate earnings cover for the dividend.
공지 • Aug 29TTW Public Company Limited Announces Cash Dividend for the Operating Period from January 1, 2024 to June 30, 2024, Payable on September 27, 2024TTW Public Company Limited announced cash dividend of THB 0.30 per share for the operating period from January 1, 2024 to June 30, 2024. Record date for the right to receive dividends is September 13, 2024. Ex-date is September 12, 2024. Payment date is September 27, 2024.
Reported Earnings • Aug 14Second quarter 2024 earnings: EPS in line with analyst expectations despite revenue beatSecond quarter 2024 results: EPS: ฿0.16 (down from ฿0.16 in 2Q 2023). Revenue: ฿1.28b (down 16% from 2Q 2023). Net income: ฿622.7m (flat on 2Q 2023). Profit margin: 49% (up from 41% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is expected to decline by 1.4% p.a. on average during the next 3 years, while revenues in the Water Utilities industry in Asia are expected to grow by 6.2%. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 9% per year.
Reported Earnings • May 15First quarter 2024 earnings released: EPS: ฿0.13 (vs ฿0.15 in 1Q 2023)First quarter 2024 results: EPS: ฿0.13 (down from ฿0.15 in 1Q 2023). Revenue: ฿1.25b (down 16% from 1Q 2023). Net income: ฿503.2m (down 15% from 1Q 2023). Profit margin: 40% (in line with 1Q 2023). Revenue is expected to decline by 2.6% p.a. on average during the next 3 years, while revenues in the Water Utilities industry in Asia are expected to grow by 7.2%. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 9% per year.
공지 • Apr 12TTW Public Company Limited Approves Dividend, Payable on April 25, 2024TTW Public Company Limited at its annual general meeting held on April 11, 2024, approved the additional of 2023 dividend payment of THB 0.30 per share or totally of THB 1,197,000,000 to its shareholder, paid from the net profit without withholding tax that can be tax credited. The Company determined the list of shareholders entitled to receive a dividend on March 8, 2024. The dividend payment shall be made on April 25, 2024. Thus, the company has paid the dividend for the year 2023 at the rate THB 0.60 per share.
Upcoming Dividend • Feb 29Upcoming dividend of ฿0.30 per shareEligible shareholders must have bought the stock before 07 March 2024. Payment date: 25 April 2024. Payout ratio is on the higher end at 82%, however this is supported by cash flows. Trailing yield: 6.3%. Within top quartile of Thai dividend payers (6.3%). Higher than average of industry peers (5.0%).
Declared Dividend • Feb 24Final dividend of ฿0.30 announcedDividend of ฿0.30 is the same as last year. Ex-date: 7th March 2024 Payment date: 25th April 2024 Dividend yield will be 6.1%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by both earnings (82% earnings payout ratio) and cash flows (67% cash payout ratio). The dividend has increased by an average of 1.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 1.6% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
공지 • Feb 23TTW Public Company Limited, Annual General Meeting, Apr 11, 2024TTW Public Company Limited, Annual General Meeting, Apr 11, 2024, at 14:00 SE Asia Standard Time. Agenda: To consider and approve the Minutes of the 2023 Annual Ordinary General Meeting of Shareholders; to acknowledge of 2023 Annual Performance Report; to consider and approve the 2023 Financial Statement and Comprehensive income statement; to consider and approve the Dividend Payment; to consider and approve the appointment of Auditor and Determination of Remuneration; to consider and approve the election of directors in replacement of those retired by rotation; to consider and approve the Determination of Director's Remuneration; and to consider any other matters.
Reported Earnings • Feb 23Full year 2023 earnings released: EPS: ฿0.73 (vs ฿0.74 in FY 2022)Full year 2023 results: EPS: ฿0.73 (down from ฿0.74 in FY 2022). Revenue: ฿5.85b (up 2.6% from FY 2022). Net income: ฿2.93b (down 1.2% from FY 2022). Profit margin: 50% (down from 52% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 5.3% p.a. on average during the next 2 years, while revenues in the Water Utilities industry in Asia are expected to grow by 8.2%. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 6% per year.
공지 • Feb 22TTW Public Company Limited Proposes Interim Dividend for 2023, Payable on April 25, 2024TTW Public Company Limited announced that the Board of Directors meeting No.1/2024 held on February 22, 2024, proposed for approval of an additional 2023 Dividend payment at the rate of THB 0.30 per share or a total amount of THB 1,197 million. The dividend payment resulted from Second half of 2023 taxable profit. This is in addition to an interim dividend payment previously paid at the rate of THB 0.30. Thus, the total 2023 dividend payment is at the rate of THB 0.60 per share. The Record Date specifies the list of shareholders entitled to receive dividend is March 8, 2024, and the dividend payment date is set on April 25, 2024.
New Risk • Jan 23New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.6% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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. This is currently the only risk that has been identified for the company.
공지 • Dec 08TTW Public Company Limited Approves Board ChangesTTW Public Company Limited hereby notifies that, the Board of Directors Meeting No.6/2023 held on December 7, 2023, passed resolutions as follows: Acknowledged the resignation from office of Mr.Kaoru Umehara and approved the appointment of Mr.Tadashi Ishizuka replacing as Board of Directors, members of the Nomination and Remuneration Committee being effective from December 7, 2023, and the names of directors authorized to sign and bind the Company.
Reported Earnings • Nov 10Third quarter 2023 earnings: Revenues and EPS in line with analyst expectationsThird quarter 2023 results: EPS: ฿0.23 (down from ฿0.24 in 3Q 2022). Revenue: ฿1.54b (up 7.1% from 3Q 2022). Net income: ฿896.7m (down 7.0% from 3Q 2022). Profit margin: 58% (down from 67% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 11% p.a. on average during the next 3 years, while revenues in the Water Utilities industry in Asia are expected to grow by 7.6%. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 9% per year.
Upcoming Dividend • Aug 29Upcoming dividend of ฿0.30 per share at 6.7% yieldEligible shareholders must have bought the stock before 05 September 2023. Payment date: 21 September 2023. Payout ratio is on the higher end at 87%, however this is supported by cash flows. Trailing yield: 6.7%. Within top quartile of Thai dividend payers (6.2%). Higher than average of industry peers (4.3%).
공지 • Aug 22TTW Public Company Limited Announces Cash Dividend for the Operating Period from January 1, 2023 to June 30, 2023, Payable on September 21, 2023TTW Public Company Limited announced cash dividend of THB 0.30 per share for the operating period from January 1, 2023 to June 30, 2023. Record date for the right to receive dividends is September 6, 2023. Ex-date is September 5, 2023. Payment date is September 21, 2023.
Reported Earnings • Aug 11Second quarter 2023 earnings: EPS exceeds analyst expectationsSecond quarter 2023 results: EPS: ฿0.16 (down from ฿0.20 in 2Q 2022). Revenue: ฿1.52b (up 6.8% from 2Q 2022). Net income: ฿624.9m (down 24% from 2Q 2022). Profit margin: 41% (down from 57% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.3%. Revenue is expected to decline by 12% p.a. on average during the next 3 years, while revenues in the Water Utilities industry in Asia are expected to grow by 8.6%. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings.
공지 • Jun 09TTW Public Company Limited Announces Board ChangesTTW Public Company Limited announced that the board of directors meeting No.3/2023 held on June 8, 2023 passed resolutions acknowledged the Director resigned as member of the board of directors of Mr. Hideo Matsumoto effective from 7 June 2023 and approved the appointment of Mr. Kenichi Ishida to be member of the board of directors, Executive Committee and Risk Management and Corporate Governance Committee effective from 8 June 2023 onwards. Thus, the board of directors will comprise of: 1. Dr. Thanong Bidaya; 2. Mr.Plew Trivisvavet; 3. Mr.Phongsarit Tantisuvanitchkul; 4. Mr.Phairuch Mekarporn; 5. Mr.Somnuk Chaidejsuriya; 6. Mr.Yuttana Yimgarund; 7. Dr. Sombat Kitjalaksana; 8. Mr.Suvich Pungchareon; 9. Mrs. Payao Marittanaporn; 10. Mr.Kaoru Umehara; 11. Mr.Kenichi Ishida; 12. Ms.Walainut Trivisvavet.
Buying Opportunity • Mar 08Now 23% undervalued after recent price dropOver the last 90 days, the stock is down 1.1%. The fair value is estimated to be ฿11.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.4% over the last 3 years, while earnings per share has been flat. Revenue is forecast to decline by 23% in 2 years. Earnings is forecast to decline by 1.7% in the next 2 years.
Upcoming Dividend • Mar 01Upcoming dividend of ฿0.30 per share at 6.5% yieldEligible shareholders must have bought the stock before 08 March 2023. Payment date: 25 April 2023. Payout ratio is on the higher end at 81%, however this is supported by cash flows. Trailing yield: 6.5%. Within top quartile of Thai dividend payers (5.6%). Higher than average of industry peers (4.1%).
Reported Earnings • Feb 24Full year 2022 earnings: EPS misses analyst expectationsFull year 2022 results: EPS: ฿0.74 (down from ฿0.78 in FY 2021). Revenue: ฿5.70b (down 2.0% from FY 2021). Net income: ฿2.97b (down 4.4% from FY 2021). Profit margin: 52% (down from 53% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.6%. Revenue is expected to decline by 12% p.a. on average during the next 2 years, while revenues in the Water Utilities industry in Asia are expected to grow by 10%. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings.
Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Director Yuttana Yimgarund was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Price Target Changed • Oct 18Price target decreased to ฿9.80Down from ฿11.33, the current price target is an average from 2 analysts. New target price is 17% above last closing price of ฿8.35. Stock is down 29% over the past year. The company is forecast to post earnings per share of ฿0.75 for next year compared to ฿0.78 last year.
Buying Opportunity • Oct 07Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 15%. The fair value is estimated to be ฿11.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to decline by 12% in 2 years. Earnings is forecast to decline by 4.8% in the next 2 years.
Upcoming Dividend • Aug 30Upcoming dividend of ฿0.30 per shareEligible shareholders must have bought the stock before 06 September 2022. Payment date: 21 September 2022. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 5.7%. Within top quartile of Thai dividend payers (5.5%). Higher than average of industry peers (4.1%).
Reported Earnings • Aug 14Second quarter 2022 earnings released: EPS: ฿0.20 (vs ฿0.21 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.20 (down from ฿0.21 in 2Q 2021). Revenue: ฿1.43b (down 3.3% from 2Q 2021). Net income: ฿819.6m (down 4.3% from 2Q 2021). Profit margin: 57% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 1.5%, compared to a 9.9% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.
Reported Earnings • May 15First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: ฿0.15 (down from ฿0.18 in 1Q 2021). Revenue: ฿1.41b (down 4.4% from 1Q 2021). Net income: ฿613.3m (down 13% from 1Q 2021). Profit margin: 44% (down from 48% in 1Q 2021). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 5.7%. Earnings per share (EPS) also missed analyst estimates by 6.3%. Over the next year, revenue is forecast to stay flat compared to a 8.4% growth forecast for the industry in Thailand. 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 5% per year, which means it is significantly lagging earnings.
Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Director Yuttana Yimgarund was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Price Target Changed • Mar 09Price target decreased to ฿11.57Down from ฿13.03, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of ฿11.10. Stock is down 6.7% over the past year. The company is forecast to post earnings per share of ฿0.79 for next year compared to ฿0.78 last year.
Upcoming Dividend • Mar 01Upcoming dividend of ฿0.30 per shareEligible shareholders must have bought the stock before 08 March 2022. Payment date: 29 April 2022. Payout ratio is on the higher end at 77%, however this is supported by cash flows. Trailing yield: 5.2%. Within top quartile of Thai dividend payers (5.1%). Higher than average of industry peers (3.6%).
Reported Earnings • Feb 24Full year 2021 earnings: EPS and revenues miss analyst expectationsFull year 2021 results: EPS: ฿0.78 (up from ฿0.74 in FY 2020). Revenue: ฿5.82b (down 6.1% from FY 2020). Net income: ฿3.10b (up 5.2% from FY 2020). Profit margin: 53% (up from 48% in FY 2020). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 6.6%. Over the next year, revenue is forecast to grow 3.0%, compared to a 4.3% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.
Reported Earnings • Nov 12Third quarter 2021 earnings releasedThe company reported a mediocre third quarter result with weaker revenues, although earnings were flat and profit margins improved. Third quarter 2021 results: Revenue: ฿1.44b (down 7.3% from 3Q 2020). Net income: ฿930.9m (flat on 3Q 2020). Profit margin: 65% (up from 60% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 2% per year.
Upcoming Dividend • Sep 01Upcoming dividend of ฿0.30 per shareEligible shareholders must have bought the stock before 08 September 2021. Payment date: 23 September 2021. Trailing yield: 5.0%. Within top quartile of Thai dividend payers (4.9%). Higher than average of industry peers (3.4%).
Reported Earnings • May 14First quarter 2021 earnings released: EPS ฿0.18 (vs ฿0.16 in 1Q 2020)The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: ฿1.47b (down 4.5% from 1Q 2020). Net income: ฿701.8m (up 10.0% from 1Q 2020). Profit margin: 48% (up from 41% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.
Price Target Changed • Apr 08Price target decreased to ฿12.57Down from ฿13.53, the current price target is an average from 3 analysts. New target price is 7.4% above last closing price of ฿11.70. Stock is down 12% over the past year.
Upcoming Dividend • Mar 01Upcoming Dividend of ฿0.30 Per ShareWill be paid on the 30th of April to those who are registered shareholders by the 8th of March. The trailing yield of 4.9% is below the top quartile of Thai dividend payers (5.9%), but it is higher than industry peers (3.7%).
Reported Earnings • Feb 25Full year 2020 earnings released: EPS ฿0.74 (vs ฿0.78 in FY 2019)The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: ฿6.19b (flat on FY 2019). Net income: ฿2.95b (down 5.6% from FY 2019). Profit margin: 48% (down from 51% in FY 2019). 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 4% per year, which means it is significantly lagging earnings.
Analyst Estimate Surprise Post Earnings • Feb 25Revenue and earnings miss expectationsRevenue missed analyst estimates by 0.3%. Earnings per share (EPS) also missed analyst estimates by 3.9%. Over the next year, revenue is forecast to grow 1.3%, compared to a 5.4% growth forecast for the Water Utilities industry in Thailand.
Is New 90 Day High Low • Feb 11New 90-day low: ฿11.90The company is down 1.0% from its price of ฿12.00 on 13 November 2020. The Thai market is up 14% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Water Utilities industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿18.94 per share.
Price Target Changed • Dec 16Price target lowered to ฿13.70Down from ฿15.00, the current price target is an average from 4 analysts. The new target price is 9.6% above the current share price of ฿12.50. As of last close, the stock is down 8.1% over the past year.
Analyst Estimate Surprise Post Earnings • Nov 11Revenue and earnings miss expectationsRevenue missed analyst estimates by 0.9%. Earnings per share (EPS) also missed analyst estimates by 6.1%. Over the next year, revenue is forecast to grow 1.6%, compared to a 5.5% growth forecast for the Water Utilities industry in Thailand.
Reported Earnings • Nov 11Third quarter 2020 earnings released: EPS ฿0.23The company reported a solid third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2020 results: Revenue: ฿1.56b (flat on 3Q 2019). Net income: ฿929.4m (up 28% from 3Q 2019). Profit margin: 60% (up from 47% in 3Q 2019). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
Is New 90 Day High Low • Oct 27New 90-day low: ฿11.60The company is down 12% from its price of ฿13.20 on 29 July 2020. The Thai market is down 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Water Utilities industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿16.16 per share.
Price Target Changed • Oct 16Price target lowered to ฿13.98Down from ฿15.05, the current price target is an average from 4 analysts. The new target price is 17% above the current share price of ฿11.90. As of last close, the stock is down 13% over the past year.
Is New 90 Day High Low • Oct 09New 90-day low: ฿12.20The company is down 10.0% from its price of ฿13.50 on 10 July 2020. The Thai market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Water Utilities industry, which is down 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿16.16 per share.
Is New 90 Day High Low • Sep 24New 90-day low: ฿12.90The company is down 5.0% from its price of ฿13.60 on 25 June 2020. The Thai market is also down 5.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Water Utilities industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿16.16 per share.