New Risk • Jun 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Market cap is less than US$10m (฿131.8m market cap, or US$3.95m). Minor Risk Shareholders have been diluted in the past year (25% increase in shares outstanding). New Risk • Jun 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 8.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.3% average weekly change). Market cap is less than US$10m (฿98.6m market cap, or US$3.03m). Buy Or Sell Opportunity • Jun 17
Now 39% overvalued after recent price rise Over the last 90 days, the stock has risen 27% to ฿0.38. The fair value is estimated to be ฿0.27, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Board Change • Apr 18
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 1 experienced director. 5 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Sommai Techawan was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Feb 26
Full year 2025 earnings released: EPS: ฿0.036 (vs ฿0.12 loss in FY 2024) Full year 2025 results: EPS: ฿0.036 (up from ฿0.12 loss in FY 2024). Revenue: ฿447.1m (up 25% from FY 2024). Net income: ฿12.4m (up ฿53.7m from FY 2024). Profit margin: 2.8% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Aankondiging • Feb 23
Thai Mui Corporation Public Company Limited, Annual General Meeting, Apr 28, 2026 Thai Mui Corporation Public Company Limited, Annual General Meeting, Apr 28, 2026, at 09:00 SE Asia Standard Time. Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ฿0.008 (vs ฿0.004 loss in 3Q 2024) Third quarter 2025 results: EPS: ฿0.008 (up from ฿0.004 loss in 3Q 2024). Revenue: ฿104.8m (up 24% from 3Q 2024). Net income: ฿2.80m (up ฿4.23m from 3Q 2024). Profit margin: 2.7% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. New Risk • Nov 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 31% per year over the past 5 years. Market cap is less than US$10m (฿95.2m market cap, or US$2.93m). New Risk • Aug 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 31% per year over the past 5 years. Market cap is less than US$10m (฿129.2m market cap, or US$3.98m). Minor Risk Share price has been volatile over the past 3 months (7.5% average weekly change). Reported Earnings • Aug 09
Second quarter 2025 earnings released: EPS: ฿0 (vs ฿0.02 loss in 2Q 2024) Second quarter 2025 results: EPS: ฿0 (improved from ฿0.02 loss in 2Q 2024). Revenue: ฿88.0m (up 8.2% from 2Q 2024). Net income: ฿4.0k (up ฿6.85m from 2Q 2024). Profit margin: 0% (up from net loss in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Reported Earnings • May 08
First quarter 2025 earnings released: ฿0.006 loss per share (vs ฿0.018 loss in 1Q 2024) First quarter 2025 results: ฿0.006 loss per share (improved from ฿0.018 loss in 1Q 2024). Revenue: ฿92.3m (up 12% from 1Q 2024). Net loss: ฿2.13m (loss narrowed 66% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. New Risk • Mar 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 1.7% per year over the past 5 years. Market cap is less than US$10m (฿136.0m market cap, or US$4.04m). New Risk • Feb 21
New major risk - Revenue and earnings growth Earnings have declined by 1.7% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 1.7% per year over the past 5 years. Market cap is less than US$10m (฿142.8m market cap, or US$4.25m). Minor Risk Share price has been volatile over the past 3 months (9.1% average weekly change). Aankondiging • Feb 20
Thai Mui Corporation Public Company Limited, Annual General Meeting, Apr 25, 2025 Thai Mui Corporation Public Company Limited, Annual General Meeting, Apr 25, 2025, at 11:00 SE Asia Standard Time. New Risk • Dec 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (฿180.2m market cap, or US$5.21m). Minor Risk Share price has been volatile over the past 3 months (6.2% average weekly change). Reported Earnings • Nov 14
Third quarter 2024 earnings released: ฿0.004 loss per share (vs ฿0.003 profit in 3Q 2023) Third quarter 2024 results: ฿0.004 loss per share (down from ฿0.003 profit in 3Q 2023). Revenue: ฿84.5m (down 16% from 3Q 2023). Net loss: ฿1.43m (down 233% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 10
Second quarter 2024 earnings released: ฿0.02 loss per share (vs ฿0.001 loss in 2Q 2023) Second quarter 2024 results: ฿0.02 loss per share (further deteriorated from ฿0.001 loss in 2Q 2023). Revenue: ฿81.4m (down 16% from 2Q 2023). Net loss: ฿6.85m (loss widened ฿6.45m from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Reported Earnings • May 09
First quarter 2024 earnings released: ฿0.018 loss per share (vs ฿0.002 profit in 1Q 2023) First quarter 2024 results: ฿0.018 loss per share (down from ฿0.002 profit in 1Q 2023). Revenue: ฿82.2m (down 26% from 1Q 2023). Net loss: ฿6.23m (down ฿6.97m from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 24
Full year 2023 earnings released: EPS: ฿0.006 (vs ฿0.013 loss in FY 2022) Full year 2023 results: EPS: ฿0.006 (up from ฿0.013 loss in FY 2022). Revenue: ฿411.4m (up 8.3% from FY 2022). Net income: ฿1.98m (up ฿6.54m from FY 2022). Profit margin: 0.5% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Aankondiging • Feb 23
Thai Mui Corporation Public Company Limited, Annual General Meeting, Apr 23, 2024 Thai Mui Corporation Public Company Limited, Annual General Meeting, Apr 23, 2024, at 06:00 Coordinated Universal Time. Agenda: To consider and acknowledge the company's business operation for the fiscal year ended December 31, 2023; to consider and acknowledge the company's financial statement for the fiscal year ended December 31, 2023; to consider and approve the appointment of the Auditors and the determination of the audit fees for the fiscal year ended December 31, 2023; to consider the omission of dividend payment for the year 2023; to consider and approve the appointment of Directors; and to consider other matters. New Risk • Jan 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 26% per year over the past 5 years. Market cap is less than US$10m (฿217.6m market cap, or US$6.12m). Minor Risk Share price has been volatile over the past 3 months (6.3% average weekly change). New Risk • Dec 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 26% per year over the past 5 years. Market cap is less than US$10m (฿197.2m market cap, or US$5.60m). Minor Risk Share price has been volatile over the past 3 months (6.2% average weekly change). Reported Earnings • Nov 11
Third quarter 2023 earnings released: EPS: ฿0.003 (vs ฿0.005 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.003 (down from ฿0.005 in 3Q 2022). Revenue: ฿100.4m (down 6.4% from 3Q 2022). Net income: ฿1.07m (down 40% from 3Q 2022). Profit margin: 1.1% (down from 1.7% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 14
Second quarter 2023 earnings released: ฿0.001 loss per share (vs ฿0.012 loss in 2Q 2022) Second quarter 2023 results: ฿0.001 loss per share (improved from ฿0.012 loss in 2Q 2022). Revenue: ฿96.5m (up 11% from 2Q 2022). Net loss: ฿398.0k (loss narrowed 90% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. New Risk • Jul 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 47% per year over the past 5 years. Market cap is less than US$10m (฿261.8m market cap, or US$7.47m). Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 8 experienced directors. No highly experienced directors. Independent Director Smorn Terdthampiboon was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 13
Second quarter 2022 earnings released: ฿0.012 loss per share (vs ฿0.004 loss in 2Q 2021) Second quarter 2022 results: ฿0.012 loss per share (down from ฿0.004 loss in 2Q 2021). Revenue: ฿86.9m (up 5.7% from 2Q 2021). Net loss: ฿4.15m (loss widened 194% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 16
First quarter 2022 earnings released: ฿0.013 loss per share (vs ฿0.006 loss in 1Q 2021) First quarter 2022 results: ฿0.013 loss per share (down from ฿0.006 loss in 1Q 2021). Revenue: ฿74.4m (down 7.8% from 1Q 2021). Net loss: ฿4.29m (loss widened 113% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 8 experienced directors. No highly experienced directors. Independent Director Smorn Terdthampiboon was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 27
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ฿0.001 (up from ฿0.036 loss in FY 2020). Revenue: ฿354.1m (up 7.6% from FY 2020). Net income: ฿501.6k (up ฿12.7m from FY 2020). Profit margin: 0.1% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 18
Third quarter 2021 earnings released: ฿0.011 loss per share (vs ฿0.03 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: ฿94.2m (up 20% from 3Q 2020). Net loss: ฿3.57m (loss narrowed 65% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Reported Earnings • May 17
First quarter 2021 earnings released: ฿0.006 loss per share (vs ฿0.005 profit in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: ฿81.0m (down 27% from 1Q 2020). Net loss: ฿2.02m (down 222% from profit in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Mar 16
New 90-day high: ฿0.85 The company is up 31% from a price of ฿0.65 on 16 December 2020. Outperformed the Thai market which is up 6.0% over the last 90 days. Exceeded the Trade Distributors industry, which is up 28% over the same period. Reported Earnings • Mar 03
Full year 2020 earnings released: ฿0.036 loss per share (vs ฿0.045 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: ฿329.4m (down 3.9% from FY 2019). Net loss: ฿12.2m (loss narrowed 20% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 98% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 22
New 90-day high: ฿0.80 The company is up 23% from its price of ฿0.65 on 22 October 2020. The Thai market is up 25% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Trade Distributors industry, which is up 18% over the same period. Reported Earnings • Nov 18
Third quarter 2020 earnings released: ฿0.031 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: ฿79.0m (down 6.0% from 3Q 2019). Net loss: ฿10.1m (down ฿10.5m from profit in 3Q 2019). Is New 90 Day High Low • Oct 08
New 90-day high: ฿0.71 The company is up 13% from its price of ฿0.63 on 10 July 2020. The Thai market is down 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Trade Distributors industry, which is up 11% over the same period.