Major Estimate Revision • 13h
Consensus EPS estimates increase by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from ฿10.5b to ฿10.8b. EPS estimate increased from ฿1.03 to ฿1.15 per share. Net income forecast to grow 6.9% next year vs 11% growth forecast for IT industry in Thailand. Consensus price target up from ฿16.20 to ฿17.30. Share price rose 6.0% to ฿15.80 over the past week. Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ฿17.00, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the IT industry in Thailand. Total loss to shareholders of 32% over the past three years. Reported Earnings • May 20
First quarter 2026 earnings released: EPS: ฿0.39 (vs ฿0.25 in 1Q 2025) First quarter 2026 results: EPS: ฿0.39 (up from ฿0.25 in 1Q 2025). Revenue: ฿2.78b (up 17% from 1Q 2025). Net income: ฿276.1m (up 53% from 1Q 2025). Profit margin: 9.9% (up from 7.6% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the IT industry in Thailand. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 30
Upcoming dividend of ฿0.30 per share Eligible shareholders must have bought the stock before 07 May 2026. Payment date: 29 May 2026. Payout ratio is a comfortable 31% but the company is paying out more than the cash it is generating. Trailing yield: 2.5%. Lower than top quartile of Thai dividend payers (7.5%). Lower than average of industry peers (5.5%). Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ฿12.10, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the IT industry in Thailand. Total loss to shareholders of 61% over the past three years. Aankondiging • Feb 28
Sky ICT Public Company Limited announces Annual dividend, payable on May 29, 2026 Sky ICT Public Company Limited announced Annual dividend of THB 0.3000 per share payable on May 29, 2026, ex-date on May 07, 2026 and record date on May 08, 2026. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ฿12.70, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 12x in the IT industry in Thailand. Total loss to shareholders of 49% over the past three years. New Risk • Feb 09
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 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings are forecast to decline by an average of 1.9% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (6.6% average weekly change). Price Target Changed • Jan 14
Price target decreased by 20% to ฿12.00 Down from ฿15.00, the current price target is provided by 1 analyst. New target price is 13% above last closing price of ฿10.60. Stock is down 49% over the past year. The company is forecast to post earnings per share of ฿0.91 for next year compared to ฿0.68 last year. New Risk • Jan 13
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.9% 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings are forecast to decline by an average of 1.9% per year for the foreseeable future. Aankondiging • Oct 16
JBP SOLUTIONS CO., LTD. agreed to acquire 30% stake in AERO SERVES Co., Ltd. from Sky ICT Public Company Limited (SET:SKY) for THB 1.5 million. JBP SOLUTIONS CO., LTD. agreed to acquire 30% stake in AERO SERVES Co., Ltd. from Sky ICT Public Company Limited (SET:SKY) for THB 1.5 million on October 15, 2025. As part of consideration, THB 1.5 million is paid towards common equity of AERO SERVES Co., Ltd.
For the period ending December 31, 2024, AERO SERVES Co., Ltd. reported total revenue of THB 0.2 million and net income of THB 0.19 million. As of December 31, 2024, AERO SERVES Co., Ltd. reported total assets of THB 4.95 million and total common equity of THB 4.94 million.
The expected completion of the transaction is October 15, 2025 to October 31, 2025. Buy Or Sell Opportunity • Sep 04
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 9.2% to ฿14.20. The fair value is estimated to be ฿11.67, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 44% over the last 3 years. Earnings per share has grown by 39%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 24% in the next 2 years. Major Estimate Revision • Sep 03
Consensus EPS estimates fall by 15%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from ฿9.34b to ฿9.65b. EPS estimate fell from ฿1.10 to ฿0.93 per share. Net income forecast to grow 14% next year vs 6.4% growth forecast for IT industry in Thailand. Consensus price target up from ฿14.70 to ฿15.00. Share price fell 4.2% to ฿13.80 over the past week. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ฿15.90, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the IT industry in Thailand. Total returns to shareholders of 53% over the past three years. New Risk • Aug 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 7.3% 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 Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Profit margins are more than 30% lower than last year (7.1% net profit margin). Reported Earnings • Aug 16
Second quarter 2025 earnings released: EPS: ฿0.24 (vs ฿0.13 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.24 (up from ฿0.13 in 2Q 2024). Revenue: ฿2.63b (up 62% from 2Q 2024). Net income: ฿174.1m (up 65% from 2Q 2024). Profit margin: 6.6% (up from 6.5% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the IT industry in Thailand. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ฿14.70, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the IT industry in Thailand. Total returns to shareholders of 42% over the past three years. Buy Or Sell Opportunity • Aug 07
Now 31% overvalued after recent price rise Over the last 90 days, the stock has risen 6.5% to ฿14.70. The fair value is estimated to be ฿11.20, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 41% over the last 3 years. Earnings per share has grown by 39%. Revenue is forecast to grow by 29% in 2 years. Earnings are forecast to grow by 52% in the next 2 years. Price Target Changed • Jul 22
Price target decreased by 47% to ฿14.70 Down from ฿27.50, the current price target is provided by 1 analyst. New target price is 18% above last closing price of ฿12.50. Stock is down 18% over the past year. The company is forecast to post earnings per share of ฿1.10 for next year compared to ฿0.68 last year. Reported Earnings • May 16
First quarter 2025 earnings released: EPS: ฿0.25 (vs ฿0.18 in 1Q 2024) First quarter 2025 results: EPS: ฿0.25 (up from ฿0.18 in 1Q 2024). Revenue: ฿2.38b (up 73% from 1Q 2024). Net income: ฿180.7m (up 52% from 1Q 2024). Profit margin: 7.6% (down from 8.6% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the IT industry in Thailand. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Apr 01
Now 21% overvalued Over the last 90 days, the stock has fallen 39% to ฿16.20. The fair value is estimated to be ฿13.35, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Earnings per share has grown by 50%. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are also forecast to grow by 24% per annum over the same time period. Price Target Changed • Mar 03
Price target decreased by 8.6% to ฿27.50 Down from ฿30.10, the current price target is provided by 1 analyst. New target price is 50% above last closing price of ฿18.30. Stock is down 35% over the past year. The company is forecast to post earnings per share of ฿1.10 for next year compared to ฿0.68 last year. Reported Earnings • Mar 01
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: ฿0.68 (down from ฿0.81 in FY 2023). Revenue: ฿6.72b (up 63% from FY 2023). Net income: ฿484.3m (down 11% from FY 2023). Profit margin: 7.2% (down from 13% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 3.0%. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 19% growth forecast for the IT industry in Thailand. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Aankondiging • Feb 28
Sky ICT Public Company Limited, Annual General Meeting, Apr 25, 2025 Sky ICT Public Company Limited, Annual General Meeting, Apr 25, 2025, at 14:00 SE Asia Standard Time. Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ฿20.80, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 11x in the IT industry in Thailand. Total returns to shareholders of 76% over the past three years. Board Change • Jan 01
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. 7 experienced directors. No highly experienced directors. Director Somchai Poolsvasdi was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Oct 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ฿24.40, the stock trades at a trailing P/E ratio of 30.1x. Average trailing P/E is 12x in the IT industry in Thailand. Total returns to shareholders of 127% over the past three years. Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿20.00, the stock trades at a trailing P/E ratio of 24.7x. Average trailing P/E is 11x in the IT industry in Thailand. Total returns to shareholders of 84% over the past three years. Aankondiging • Aug 16
Sky ICT Public Company Limited (SET:SKY) and Turnkey Communication Services Public Company Limited (SET:TKC) signed the share purchase agreement to acquire 70% stake in One To One Professional Co., Ltd. from Peer For You Public Company Limited (SET:PEER) for approximately THB160 million. Sky ICT Public Company Limited (SET:SKY) and Turnkey Communication Services Public Company Limited (SET:TKC) signed the share purchase agreement to acquire 70% stake in One To One Professional Co., Ltd. from Peer For You Public Company Limited (SET:PEER) for approximately THB160 million on August 13, 2024. SKY ICT Public Company Limited will acquire 45% stake and Turnkey Communication Services Public Company Limited will acquire 25% stake in One To One Professional Co. Peer For You Public Company Limited's Board of Directors Meeting approved the sale of 5.6 million ordinary shares equivalent to 70% of the total shares in One to One Professional Company, at the price is THB 28.45 per share. The purchase prices to be paid by SKY are: (i) THB 90 million; and (ii) Cash equivalent to 45% of net working capital of One To One Professional Co., as of June 30, 2024, which is equivalent to THB 12,407,150.82; and the purchase prices to be paid by TKC are: (i) THB 50 million; and (ii) Cash equivalent to 25% of net working capital of OTP as of June 30, 2024, which equivalent to THB 6,892,861.57. The funds received from the sale of OTP shares will be used to support expansion of investment in new businesses. and continue to use it as the Company's working capital. The transaction is expected to be completed by August 30, 2024. Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: ฿0.17 (vs ฿0.18 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.17. Revenue: ฿1.63b (up 73% from 2Q 2023). Net income: ฿120.0m (up 2.4% from 2Q 2023). Profit margin: 7.4% (down from 12% in 2Q 2023). The decrease in margin was driven by higher expenses. Buy Or Sell Opportunity • Aug 05
Now 25% overvalued Over the last 90 days, the stock has fallen 40% to ฿15.90. The fair value is estimated to be ฿12.72, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has grown by 53%. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ฿19.40, the stock trades at a trailing P/E ratio of 24.1x. Average trailing P/E is 11x in the IT industry in Thailand. Total returns to shareholders of 79% over the past three years. Reported Earnings • May 17
First quarter 2024 earnings released: EPS: ฿0.18 (vs ฿0.14 in 1Q 2023) First quarter 2024 results: EPS: ฿0.18 (up from ฿0.14 in 1Q 2023). Revenue: ฿1.38b (up 68% from 1Q 2023). Net income: ฿118.9m (up 42% from 1Q 2023). Profit margin: 8.6% (down from 10% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Aankondiging • Mar 01
Sky ICT Public Company Limited, Annual General Meeting, Apr 26, 2024 Sky ICT Public Company Limited, Annual General Meeting, Apr 26, 2024, at 16:00 SE Asia Standard Time. Agenda: To consider and certify the Minutes of the 2023 Annual General Meeting of Shareholders, which was held on 21 April 2023; to consider and acknowledge the 2023 operation results of the Company; to consider and approve the Company's financial statements for year 2023, ended 31 December 2023; to consider and approve the appropriate of net profits as legal reserve and the omission of the dividend payment for the operating results for the year 2023; and to consider other matters. Reported Earnings • Mar 01
Full year 2023 earnings released: EPS: ฿0.81 (vs ฿0.34 in FY 2022) Full year 2023 results: EPS: ฿0.81 (up from ฿0.34 in FY 2022). Revenue: ฿4.12b (up 47% from FY 2022). Net income: ฿541.8m (up 154% from FY 2022). Profit margin: 13% (up from 7.6% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 17
Third quarter 2023 earnings released: EPS: ฿0.20 (vs ฿0.06 loss in 3Q 2022) Third quarter 2023 results: EPS: ฿0.20 (up from ฿0.06 loss in 3Q 2022). Revenue: ฿1.08b (up 59% from 3Q 2022). Net income: ฿124.2m (up ฿159.8m from 3Q 2022). Profit margin: 12% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 37% per year whereas the company’s share price has increased by 33% per year. Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: ฿0.18 (vs ฿0.028 loss in 2Q 2022) Second quarter 2023 results: EPS: ฿0.18 (up from ฿0.028 loss in 2Q 2022). Revenue: ฿942.3m (up 17% from 2Q 2022). Net income: ฿117.2m (up ฿134.3m from 2Q 2022). Profit margin: 12% (up from net loss in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Jun 21
Sky ICT Public Company Limited has completed a Follow-on Equity Offering in the amount of THB 1.008 billion. Sky ICT Public Company Limited has completed a Follow-on Equity Offering in the amount of THB 1.008 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 60,000,000
Price\Range: THB 16.8
Transaction Features: Subsequent Direct Listing New Risk • Jun 09
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.0x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.2% average weekly change). Profit margins are more than 30% lower than last year (3.7% net profit margin). Shareholders have been diluted in the past year (5.0% increase in shares outstanding). Reported Earnings • May 17
First quarter 2023 earnings released: EPS: ฿0.14 (vs ฿0.30 in 1Q 2022) First quarter 2023 results: EPS: ฿0.14 (down from ฿0.30 in 1Q 2022). Revenue: ฿820.0m (up 75% from 1Q 2022). Net income: ฿83.9m (down 54% from 1Q 2022). Profit margin: 10% (down from 39% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ฿25.50, the stock trades at a trailing P/E ratio of 74.6x. Average trailing P/E is 16x in the IT industry in Thailand. Total returns to shareholders of 118% over the past three years. Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improved over the past week After last week's 28% share price gain to ฿12.70, the stock trades at a trailing P/E ratio of 58.7x. Average trailing P/E is 22x in the IT industry in Thailand. Total loss to shareholders of 8.2% over the past three years. Reported Earnings • Nov 18
Third quarter 2022 earnings released: ฿0.06 loss per share (vs ฿0.02 profit in 3Q 2021) Third quarter 2022 results: ฿0.06 loss per share (down from ฿0.02 profit in 3Q 2021). Revenue: ฿679.2m (down 3.8% from 3Q 2021). Net loss: ฿35.6m (down 431% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Somchai Poolsvasdi was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 20
Second quarter 2022 earnings released: ฿0.028 loss per share (vs ฿0.02 profit in 2Q 2021) Second quarter 2022 results: ฿0.028 loss per share (down from ฿0.02 profit in 2Q 2021). Revenue: ฿804.4m (flat on 2Q 2021). Net loss: ฿17.0m (down 258% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • May 30
Investor sentiment improved over the past week After last week's 17% share price gain to ฿11.50, the stock trades at a trailing P/E ratio of 33.9x. Average trailing P/E is 20x in the IT industry in Thailand. Total returns to shareholders of 5.2% over the past three years. Reported Earnings • May 19
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: ฿0.30 (up from ฿0.022 in 1Q 2021). Revenue: ฿468.0m (down 53% from 1Q 2021). Net income: ฿182.3m (up ฿168.5m from 1Q 2021). Profit margin: 39% (up from 1.4% in 1Q 2021). Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 59%. Over the last 3 years on average, earnings per share has fallen by 16% 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
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Sarut Vanichpun 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. Reported Earnings • Mar 03
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: ฿0.07 (down from ฿0.27 in FY 2020). Revenue: ฿3.00b (down 15% from FY 2020). Net income: ฿40.6m (down 73% from FY 2020). Profit margin: 1.4% (down from 4.2% in FY 2020). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 59%. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 16
Third quarter 2021 earnings released: EPS ฿0.02 (vs ฿0.04 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿706.4m (down 28% from 3Q 2020). Net income: ฿10.8m (down 54% from 3Q 2020). Profit margin: 1.5% (down from 2.4% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 4% per year. Executive Departure • Oct 06
Chief Accounting Jakkapan Intawong has left the company On the 30th of September, Jakkapan Intawong's tenure as Chief Accounting ended after less than a year in the role. We don't have any record of a personal shareholding under Jakkapan's name. Jakkapan is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 5.33 years. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS ฿0.02 (vs ฿0.046 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: ฿810.1m (up 6.6% from 2Q 2020). Net income: ฿10.8m (down 58% from 2Q 2020). Profit margin: 1.3% (down from 3.4% in 2Q 2020). The decrease in margin was driven by higher expenses. 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 6% per year. Reported Earnings • May 19
First quarter 2021 earnings released: EPS ฿0.022 (vs ฿0.035 in 1Q 2020) The company reported a mediocre first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: ฿986.5m (up 37% from 1Q 2020). Net income: ฿13.7m (down 29% from 1Q 2020). Profit margin: 1.4% (down from 2.7% in 1Q 2020). The decrease in margin was driven by higher 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 11% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 02
Full year 2020 earnings released: EPS ฿0.27 (vs ฿0.42 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿3.54b (down 11% from FY 2019). Net income: ฿149.8m (down 32% from FY 2019). Profit margin: 4.2% (down from 5.5% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Mar 02
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 59%. Over the next year, revenue is forecast to grow 24%, compared to a 14% growth forecast for the IT industry in Thailand. Is New 90 Day High Low • Feb 22
New 90-day low: ฿11.30 The company is down 10.0% from its price of ฿12.50 on 24 November 2020. The Thai market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 7.0% over the same period. Is New 90 Day High Low • Dec 25
New 90-day low: ฿11.50 The company is down 12% from its price of ฿13.10 on 25 September 2020. The Thai market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is down 9.0% over the same period. Reported Earnings • Nov 17
Third quarter 2020 earnings released: EPS ฿0.04 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿986.9m (down 49% from 3Q 2019). Net income: ฿23.2m (down 86% from 3Q 2019). Profit margin: 2.4% (down from 8.8% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 19
New 90-day low: ฿12.30 The company is down 20% from its price of ฿15.39 on 21 July 2020. The Thai market is down 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 2.0% over the same period. Is New 90 Day High Low • Sep 30
New 90-day low: ฿13.00 The company is down 8.0% from its price of ฿14.13 on 02 July 2020. The Thai market is down 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 11% over the same period. 
