Reported Earnings • May 15
First quarter 2026 earnings released: EPS: ฿0.028 (vs ฿0.031 in 1Q 2025) First quarter 2026 results: EPS: ฿0.028 (down from ฿0.031 in 1Q 2025). Revenue: ฿192.6m (up 59% from 1Q 2025). Net income: ฿5.82m (down 11% from 1Q 2025). Profit margin: 3.0% (down from 5.4% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 22% per year whereas the company’s share price has fallen by 18% per year. Buy Or Sell Opportunity • May 12
Now 21% undervalued Over the last 90 days, the stock has risen 6.4% to ฿1.66. The fair value is estimated to be ฿2.09, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.4% over the last 3 years. Earnings per share has declined by 25%. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ฿1.72, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 12x in the IT industry in Thailand. Total loss to shareholders of 49% over the past three years. Declared Dividend • Feb 20
Dividend increased to ฿0.17 Dividend of ฿0.17 is 9.2% higher than last year. Ex-date: 2nd March 2026 Payment date: 21st May 2026 Dividend yield will be 8.4%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by earnings (81% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. New Risk • Feb 19
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 6.0% 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 High level of non-cash earnings (30% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.0% average weekly change). Market cap is less than US$100m (฿426.4m market cap, or US$13.7m). Aankondiging • Feb 19
International Network System Public Company Limited announces Annual dividend, payable on May 21, 2026 International Network System Public Company Limited announced Annual dividend of THB 0.1670 per share payable on May 21, 2026, ex-date on March 02, 2026 and record date on March 04, 2026. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ฿2.04, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 11x in the IT industry in Thailand. Total loss to shareholders of 49% over the past three years. Aankondiging • Feb 19
International Network System Public Company Limited, Annual General Meeting, Apr 27, 2026 International Network System Public Company Limited, Annual General Meeting, Apr 27, 2026, at 14:00 SE Asia Standard Time. Location: the quarter ratchayothin by uhg, jubilee meeting room,19th floor, located at 1799 phahonyothin road, chatuchak subdistrict, chatuchak district, bangkok Thailand Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ฿0.064 (vs ฿0.046 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.064 (up from ฿0.046 in 3Q 2024). Revenue: ฿199.7m (up 79% from 3Q 2024). Net income: ฿13.3m (up 40% from 3Q 2024). Profit margin: 6.7% (down from 8.5% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 26% per year whereas the company’s share price has fallen by 28% per year. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: ฿0.043 (vs ฿0.013 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.043 (up from ฿0.013 in 2Q 2024). Revenue: ฿124.4m (up 49% from 2Q 2024). Net income: ฿8.92m (up 227% from 2Q 2024). Profit margin: 7.2% (up from 3.3% in 2Q 2024). The increase in margin was driven by higher revenue. Buy Or Sell Opportunity • Jun 25
Now 21% overvalued Over the last 90 days, the stock has fallen 6.3% to ฿1.33. The fair value is estimated to be ฿1.10, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.9% over the last 3 years. Earnings per share has declined by 18%. New Risk • May 28
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 6.1% Last year net profit margin: 9.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 108% Cash payout ratio: 156% Market cap is less than US$10m (฿290.5m market cap, or US$8.88m). Minor Risk Profit margins are more than 30% lower than last year (6.1% net profit margin). Aankondiging • Apr 19
International Network System Public Company Limited Approves the Appointment of Ongarch Intusatitayakul as Additional Director International Network System Public Company Limited at its AGM held on April 18, 2025, approved the appointment of Mr. Ongarch Intusatitayakul as additional director. Aankondiging • Apr 18
International Network System Public Company Limited Approves Dividend for 2024, Payable on May 6, 2025 International Network System Public Company Limited at its AGM held on April 18, 2025, approved to pay dividends to shareholders from Net Profit of the operating results of 2024 at the rate
of THB 0.153 per share for 209,000,000 shares, totaling THB 31,977,000. However, all dividends will be subject to withholding tax at the statutory rate. The list of shareholders entitled to receive dividends (Record Date for Dividend) will be specified on March 5, 2025, and the dividend payment schedule to the Company's shareholders for the year 2024 will be on May 6, 2025. Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿1.57, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 10x in the IT industry in Thailand. Total loss to shareholders of 39% over the past year. Aankondiging • Feb 21
International Network System Public Company Limited announces Annual dividend, payable on May 06, 2025 International Network System Public Company Limited announced Annual dividend of THB 0.1530 per share payable on May 06, 2025, ex-date on March 04, 2025 and record date on March 05, 2025. Aankondiging • Feb 20
International Network System Public Company Limited, Annual General Meeting, Apr 18, 2025 International Network System Public Company Limited, Annual General Meeting, Apr 18, 2025, at 14:00 SE Asia Standard Time. Location: the quarter ratchayothin by uhg, jubilee meeting room, 19th floor, located at 1799 phahonyothin road, chatuchak subdistrict, chatuchak district, bangkok Thailand Reported Earnings • Feb 20
Full year 2024 earnings released: EPS: ฿0.16 (vs ฿0.29 in FY 2023) Full year 2024 results: EPS: ฿0.16 (down from ฿0.29 in FY 2023). Revenue: ฿489.5m (down 29% from FY 2023). Net income: ฿34.1m (down 46% from FY 2023). Profit margin: 7.0% (down from 9.1% in FY 2023). The decrease in margin was driven by lower revenue. New Risk • Nov 14
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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (฿365.8m market cap, or US$10.4m). Buy Or Sell Opportunity • Nov 14
Now 28% undervalued Over the last 90 days, the stock has risen 1.4% to ฿1.43. The fair value is estimated to be ฿1.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.4% over the last year. Earnings per share has declined by 24%. Buy Or Sell Opportunity • Sep 04
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to ฿1.66. The fair value is estimated to be ฿2.09, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.4% over the last year. Earnings per share has declined by 24%. Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: ฿0.013 (vs ฿0.078 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.013 (down from ฿0.078 in 2Q 2023). Revenue: ฿83.7m (down 36% from 2Q 2023). Net income: ฿2.73m (down 84% from 2Q 2023). Profit margin: 3.3% (down from 13% in 2Q 2023). The decrease in margin was driven by lower revenue. New Risk • Jul 23
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿346.9m (US$9.58m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (31% accrual ratio). Market cap is less than US$10m (฿346.9m market cap, or US$9.58m). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • May 09
First quarter 2024 earnings released: EPS: ฿0.052 (vs ฿0.049 in 1Q 2023) First quarter 2024 results: EPS: ฿0.052 (up from ฿0.049 in 1Q 2023). Revenue: ฿123.4m (down 20% from 1Q 2023). Net income: ฿10.9m (up 2.1% from 1Q 2023). Profit margin: 8.8% (up from 6.9% in 1Q 2023). The increase in margin was driven by lower expenses. Aankondiging • Apr 19
International Network System Public Company Limited Approves Dividend for the Year of 2023, Payable on May 14, 2024 International Network System Public Company Limited at its AGM held on April 18th, 2024, approved to pay dividends to shareholders from Net Profit of the operating results of 2023 at the rate of THB 0.124 per share for 209,000,000 shares, totaling THB 25,916,000. However, all dividends will be subject to withholding tax at the statutory rate. The list of shareholders entitled to receive dividends (Record Date for Dividend) will be specified on March 7, 2024, and the dividend payment schedule to the Company's shareholders for the year 2023 will be on May 14th, 2024. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ฿2.82, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 14x in the IT industry in Thailand. Total loss to shareholders of 30% over the past year. Upcoming Dividend • Feb 28
Upcoming dividend of ฿0.12 per share Eligible shareholders must have bought the stock before 06 March 2024. Payment date: 14 May 2024. Payout ratio is a comfortable 40% but the company is not cash flow positive. Trailing yield: 8.9%. Within top quartile of Thai dividend payers (6.4%). Higher than average of industry peers (3.7%). Declared Dividend • Feb 24
Dividend of ฿0.12 announced Shareholders will receive a dividend of ฿0.12. Ex-date: 6th March 2024 Payment date: 14th May 2024 Dividend yield will be 4.6%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. Earnings per share has grown by 16% over the last 3 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 23
Full year 2023 earnings released: EPS: ฿0.29 (vs ฿0.34 in FY 2022) Full year 2023 results: EPS: ฿0.29. Revenue: ฿689.5m (up 25% from FY 2022). Net income: ฿62.8m (up 14% from FY 2022). Profit margin: 9.1% (in line with FY 2022). Reported Earnings • Nov 09
Third quarter 2023 earnings released: EPS: ฿0.092 (vs ฿0.11 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.092. Revenue: ฿222.4m (up 119% from 3Q 2022). Net income: ฿19.4m (up 14% from 3Q 2022). Profit margin: 8.7% (down from 17% in 3Q 2022). The decrease in margin was driven by higher expenses. Reported Earnings • Aug 16
Second quarter 2023 earnings released: EPS: ฿0.078 (vs ฿0.07 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.078 (up from ฿0.07 in 2Q 2022). Revenue: ฿130.4m (up 68% from 2Q 2022). Net income: ฿17.1m (up 64% from 2Q 2022). Profit margin: 13% (in line with 2Q 2022). Reported Earnings • May 12
First quarter 2023 earnings released: EPS: ฿0.049 (vs ฿0.078 in 1Q 2022) First quarter 2023 results: EPS: ฿0.049 (down from ฿0.078 in 1Q 2022). Revenue: ฿154.6m (up 57% from 1Q 2022). Net income: ฿10.7m (down 9.2% from 1Q 2022). Profit margin: 6.9% (down from 12% in 1Q 2022). The decrease in margin was driven by higher expenses. Aankondiging • May 10
International Network System Public Company Limited Approves Dividend for the Year 2022, Payable on May 23, 2023 International Network System Public Company Limited To approve to pay dividends to shareholders from the operating results of 2022 at the rate of THB 0.12 per share for 220,000,000 shares, totaling THB 26,400,000. However, all dividends will be subject to withholding tax at the statutory rate. The list of shareholders entitled to receive dividends (Record Date for Dividend) will be specified on March 9th, 2023, and the dividend payment schedule to the Company's shareholders for the year 2022 will be on May 23rd, 2023. In any case, the payment of such a dividend is still uncertain because it must first be approved by the 2023 Annual General Meeting of Shareholders. Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ฿3.30, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 16x in the IT industry in Thailand. Buying Opportunity • Apr 25
Now 30% undervalued after recent price drop Over the last 90 days, the stock is down 26%. The fair value is estimated to be ฿4.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has declined by 6.5%. Reported Earnings • Nov 16
Third quarter 2022 earnings released Third quarter 2022 results: EPS: ฿0.11. Net income: ฿17.0m (up ฿17.0m from 3Q 2021). Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Oct 27
Second quarter 2022 earnings released Second quarter 2022 results: EPS: ฿0.07. Net income: ฿10.5m (up ฿10.5m from 2Q 2021).