New Risk • Jun 17
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: Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (฿557.8m market cap, or US$17.1m). Upcoming Dividend • Apr 30
Upcoming dividend of ฿0.015 per share Eligible shareholders must have bought the stock before 07 May 2026. Payment date: 21 May 2026. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Thai dividend payers (7.5%). Lower than average of industry peers (6.2%). Reported Earnings • Mar 02
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: ฿0.09 (down from ฿0.091 in FY 2024). Revenue: ฿836.0m (flat on FY 2024). Net income: ฿63.7m (down 4.3% from FY 2024). Profit margin: 7.6% (down from 7.9% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 10%. Revenue is forecast to grow 2.2% p.a. on average during the next 2 years, compared to a 3.0% growth forecast for the Transportation industry in Asia. 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 29% per year, which means it is significantly lagging earnings. Aankondiging • Feb 27
Mena Transport Public Company Limited Proposes Cash Dividend for the Period from January 1, 2025 to December 31, 2025, Payable on May 21, 2026 Mena Transport Public Company Limited proposed cash dividend is THB 0.015 per share for the period from January 1, 2025 to December 31, 2025. Record date for the right to receive dividends is May 8, 2026. Ex-dividend date is May 7, 2026. Payment date is May 21, 2026, at the shareholders meeting to be held on April 24, 2026. Aankondiging • Feb 25
Mena Transport Public Company Limited, Annual General Meeting, Apr 23, 2026 Mena Transport Public Company Limited, Annual General Meeting, Apr 23, 2026, at 10:00 SE Asia Standard Time. Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ฿0.02 (vs ฿0.028 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.02 (down from ฿0.028 in 3Q 2024). Revenue: ฿211.9m (flat on 3Q 2024). Net income: ฿15.2m (down 25% from 3Q 2024). Profit margin: 7.2% (down from 9.6% in 3Q 2024). Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Transportation industry in Asia. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: ฿0.02 (vs ฿0.018 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.02. Revenue: ฿199.2m (flat on 2Q 2024). Net income: ฿12.8m (flat on 2Q 2024). Profit margin: 6.4% (down from 6.5% in 2Q 2024). Revenue is forecast to grow 6.3% p.a. on average during the next 2 years, compared to a 3.0% growth forecast for the Transportation industry in Asia. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: ฿0.02 (vs ฿0.015 in 1Q 2024) First quarter 2025 results: EPS: ฿0.02 (up from ฿0.015 in 1Q 2024). Revenue: ฿214.2m (up 9.0% from 1Q 2024). Net income: ฿16.5m (up 53% from 1Q 2024). Profit margin: 7.7% (up from 5.5% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 2 years, compared to a 3.5% growth forecast for the Transportation industry in Asia. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Aankondiging • Apr 25
Mena Transport Public Company Limited Approves Annual Dividend for the Year 2024, Payable on May 16, 2025 Mena Transport Public Company Limited at AGM held on April 24, 2025 approved the payment of dividend to shareholders of the Company at the rate of THB 0.03 per share, totaling THB 22,020,000. The record date will be set on May 2nd, 2025, to determine the list of shareholders entitled to receive the dividend. The dividend shall be paid on May 16th, 2025. Upcoming Dividend • Apr 23
Upcoming dividend of ฿0.03 per share Eligible shareholders must have bought the stock before 30 April 2025. Payment date: 16 May 2025. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Thai dividend payers (8.1%). Lower than average of industry peers (6.1%). Declared Dividend • Feb 27
Dividend of ฿0.03 announced Dividend of ฿0.03 is the same as last year. Ex-date: 30th April 2025 Payment date: 16th May 2025 Dividend yield will be 3.0%, which is lower than the industry average of 5.3%. Sustainability & Growth Dividend is well covered by both earnings (44% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has not increased over the past 3 years but payments have been stable during that time. EPS is expected to grow by 40% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Feb 26
Mena Transport Public Company Limited Proposes Cash Dividend for the Operating Period from 1 January 2024 to 31 December 2024, Payable on 16 May 2025 Mena Transport Public Company Limited proposed dividend of THB 0.03 per share for the Operating Period from 1 January 2024 to 31 December 2024. Ex-dividend date: 30 April 2025; Record date for the right to receive dividends: 2 May 2025. Payment date 16-May-2025. Reported Earnings • Feb 26
Full year 2024 earnings: EPS in line with analyst expectations despite revenue beat Full year 2024 results: EPS: ฿0.09 (up from ฿0.078 in FY 2023). Revenue: ฿846.3m (up 8.6% from FY 2023). Net income: ฿66.6m (up 17% from FY 2023). Profit margin: 7.9% (up from 7.3% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.4% p.a. on average during the next 2 years, compared to a 4.0% growth forecast for the Transportation industry in Asia. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Aankondiging • Feb 25
Mena Transport Public Company Limited, Annual General Meeting, Apr 24, 2025 Mena Transport Public Company Limited, Annual General Meeting, Apr 24, 2025, at 10:00 SE Asia Standard Time. Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: ฿0.03 (vs ฿0.031 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.03 (down from ฿0.031 in 3Q 2023). Revenue: ฿215.6m (up 10% from 3Q 2023). Net income: ฿20.4m (down 9.1% from 3Q 2023). Profit margin: 9.5% (down from 12% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Transportation industry in Asia. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Major Estimate Revision • Nov 13
Consensus EPS estimates fall by 18% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿847.0m to ฿832.0m. EPS estimate also fell from ฿0.11 per share to ฿0.09 per share. Net income forecast to grow 41% next year vs 19% growth forecast for Transportation industry in Thailand. Consensus price target down from ฿1.92 to ฿1.66. Share price rose 5.0% to ฿1.25 over the past week. Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ฿1.06, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Transportation industry in Asia. Total loss to shareholders of 40% over the past three years. Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: ฿0.02 (vs ฿0.021 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.02 (down from ฿0.021 in 2Q 2023). Revenue: ฿203.6m (up 8.0% from 2Q 2023). Net income: ฿12.9m (down 16% from 2Q 2023). Profit margin: 6.4% (down from 8.2% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Transportation industry in Asia. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ฿1.20, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 14x in the Transportation industry in Asia. Total loss to shareholders of 30% over the past year. New Risk • May 30
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.1% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. 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 (7.1% average weekly change). Market cap is less than US$100m (฿1.03b market cap, or US$28.0m). Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ฿1.42, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the Transportation industry in Asia. Total loss to shareholders of 21% over the past year. Price Target Changed • May 14
Price target decreased by 23% to ฿1.92 Down from ฿2.50, the current price target is provided by 1 analyst. New target price is 33% above last closing price of ฿1.44. Stock is down 37% over the past year. The company is forecast to post earnings per share of ฿0.11 for next year compared to ฿0.078 last year. Reported Earnings • May 12
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: ฿0.01 (down from ฿0.021 in 1Q 2023). Revenue: ฿200.1m (up 3.6% from 1Q 2023). Net income: ฿10.8m (down 29% from 1Q 2023). Profit margin: 5.4% (down from 7.9% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 50%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Transportation industry in Asia. Upcoming Dividend • Apr 23
Upcoming dividend of ฿0.03 per share Eligible shareholders must have bought the stock before 30 April 2024. Payment date: 17 May 2024. Payout ratio is a comfortable 39% but the company is paying out more than the cash it is generating. Trailing yield: 1.8%. Lower than top quartile of Thai dividend payers (6.0%). Lower than average of industry peers (5.2%). Declared Dividend • Mar 02
Dividend of ฿0.03 announced Dividend of ฿0.03 is the same as last year. Ex-date: 30th April 2024 Payment date: 17th May 2024 Dividend yield will be 1.6%, which is lower than the industry average of 5.3%. Sustainability & Growth Dividend is covered by earnings (30% earnings payout ratio) but not covered by cash flows (103% cash payout ratio). The dividend has not increased over the past 2 years but payments have been stable during that time. EPS is expected to grow by 69% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Mar 01
Mena Transport Public Company Limited, Annual General Meeting, Apr 23, 2024 Mena Transport Public Company Limited, Annual General Meeting, Apr 23, 2024, at 10:00 SE Asia Standard Time. Agenda: To consider and adopt the minutes of the 2023 Annual General Meeting of Shareholders; to acknowledge the Company's performance for the year 2023; to consider and approve the Company's audited financial statements ended on 31st December 2023; to consider and approve the Company's dividend payment and the allocation of net profit as legal reserve for financial year 2023; to consider and approve the election of the directors to replace the directors who will retire by rotation for the year 2024; and to consider other business matters. Reported Earnings • Mar 01
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: ฿0.08 (up from ฿0.07 in FY 2022). Revenue: ฿789.1m (up 13% from FY 2022). Net income: ฿57.1m (up 12% from FY 2022). Profit margin: 7.2% (down from 7.3% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.1%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Transportation industry in Asia. Aankondiging • Feb 29
Mena Transport Public Company Limited Proposes Dividend for Year 2023, Payable on May 17, 2024 Mena Transport Public Company Limited announced that at the AGM to be held on April 23, 2024, proposed dividend payment to the shareholders of the Company at THB 0.03 per share, or equivalent to the dividend payment in the amount of approximately THB 22.02 Million or dividend payout of 39% of net profit. The record date to determine names of shareholders who have the right to receive dividend payment will be on May 2nd, 2024. The dividend payment date will be on May 17th, 2024. However, the said dividend payment is uncertain and is depended on the approval of shareholders' meeting. Valuation Update With 7 Day Price Move • Feb 29
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ฿1.85, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the Transportation industry in Asia. Total loss to shareholders of 15% over the past year. New Risk • Nov 17
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: Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (฿1.61b market cap, or US$46.0m). Reported Earnings • Nov 11
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: ฿0.03 (up from ฿0.016 in 3Q 2022). Revenue: ฿201.9m (up 8.7% from 3Q 2022). Net income: ฿22.4m (up 96% from 3Q 2022). Profit margin: 11% (up from 6.1% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 50%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Transportation industry in Asia. Aankondiging • Sep 06
Mena Transport Public Company Limited Announces Chief Accountant Changes Mena Transport Public Company Limited announced Chief Accountant Changes. Position of Chief Accountant Accounting Manager: Title: Miss. Name: Issaree. Surname: Pornrattanakavee. Effective Date of Termination 01-Sep-2023. Position of Chief Accountant Accounting Manager: Title: Miss. Name: Miss Orranuch. Surname: Manoworakul. Effective Date of Appointment 04-Sep-2023. Reported Earnings • Aug 20
Second quarter 2023 earnings released: EPS: ฿0.021 (vs ฿0.015 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.021 (up from ฿0.015 in 2Q 2022). Revenue: ฿188.5m (up 13% from 2Q 2022). Net income: ฿15.4m (up 37% from 2Q 2022). Profit margin: 8.2% (up from 6.7% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Transportation industry in Asia. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ฿2.02, the stock trades at a trailing P/E ratio of 25.7x. Average trailing P/E is 16x in the Transportation industry in Thailand. Total returns to shareholders of 31% over the past year. Valuation Update With 7 Day Price Move • May 22
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ฿1.84, the stock trades at a trailing P/E ratio of 23.5x. Average trailing P/E is 15x in the Transportation industry in Thailand. Total returns to shareholders of 12% over the past year. Reported Earnings • May 19
First quarter 2023 earnings released: EPS: ฿0.02 (vs ฿0.012 in 1Q 2022) First quarter 2023 results: EPS: ฿0.02 (up from ฿0.012 in 1Q 2022). Revenue: ฿195.0m (up 25% from 1Q 2022). Net income: ฿15.2m (up 73% from 1Q 2022). Profit margin: 7.8% (up from 5.7% in 1Q 2022). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ฿2.26, the stock trades at a trailing P/E ratio of 32.4x. Average trailing P/E is 17x in the Transportation industry in Thailand. Total returns to shareholders of 37% over the past year. Upcoming Dividend • Apr 21
Upcoming dividend of ฿0.03 per share at 1.2% yield Eligible shareholders must have bought the stock before 28 April 2023. Payment date: 19 May 2023. Payout ratio is a comfortable 43% and the cash payout ratio is 92%. Trailing yield: 1.2%. Lower than top quartile of Thai dividend payers (6.0%). Lower than average of industry peers (4.1%). Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿2.62, the stock trades at a trailing P/E ratio of 37.6x. Average trailing P/E is 16x in the Transportation industry in Thailand. Total returns to shareholders of 58% over the past year. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ฿2.20, the stock trades at a trailing P/E ratio of 36.7x. Average trailing P/E is 16x in the Transportation industry in Thailand. Total returns to shareholders of 25% over the past year. Aankondiging • Jan 11
Mena Transport Public Company Limited Announces CFO Changes Mena Transport Public Company Limited announced the appointment of Mrs. Suwanna Kajonwuttidet (Acting) as CFO effective Jan. 03, 2023. Aankondiging • Jan 04
Mena Transport Public Company Limited Announces Executive Changes Mena Transport Public Company Limited announced that the termination of Mr. Athikom Wongsongcha as CFO with effect from December 30, 2022. The company also announced that the appointment of Mr. Worravit Auesapsakul as CFO with effect from February 15, 2023. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: ฿0.02 (vs ฿0.002 loss in 3Q 2021) Third quarter 2022 results: EPS: ฿0.02 (up from ฿0.002 loss in 3Q 2021). Revenue: ฿188.2m (up 60% from 3Q 2021). Net income: ฿11.4m (up ฿13.2m from 3Q 2021). Profit margin: 6.1% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: ฿0.02 (vs ฿0.002 loss in 3Q 2021) Third quarter 2022 results: EPS: ฿0.02 (up from ฿0.002 loss in 3Q 2021). Revenue: ฿188.2m (up 60% from 3Q 2021). Net income: ฿11.4m (up ฿13.2m from 3Q 2021). Profit margin: 6.1% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Reported Earnings • Feb 27
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ฿0.05 (down from ฿0.063 in FY 2020). Revenue: ฿561.3m (down 7.2% from FY 2020). Net income: ฿32.5m (down 6.5% from FY 2020). Profit margin: 5.8% (in line with FY 2020). Revenue was in line with analyst estimates. Aankondiging • Feb 26
Mena Transport Public Company Limited Proposes Dividend, Payable on May 19, 2022 Mena Transport Public Company Limited announced according to the Board of Directors' Meeting of Mena Transport Public Company Limited ("the Company") No. 3/2022 held on 25th February 2022, has the significant resolutions are as: The dividend payment to the shareholders of the Company at THB 0.03 per share, or equivalent to the dividend payment in the amount of approximately THB 22.02 Million or dividend payout of 68% of net profit. The record date to determine names of shareholders who have the right to receive dividend payment will be on April 28th, 2022. The dividend payment date will be on May 19th, 2022. However, the said dividend payment is uncertain and is depended on the approval of shareholders' meeting. Reported Earnings • Nov 18
Third quarter 2021 earnings released: ฿0.002 loss per share (vs ฿0.014 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: ฿117.6m (down 15% from 3Q 2020). Net loss: ฿1.79m (down 123% from profit in 3Q 2020). Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improved over the past week After last week's 15% share price gain to ฿2.06, the stock trades at a trailing P/E ratio of 30.2x. Average trailing P/E is 19x in the Transportation industry in Thailand. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS ฿0.021 (vs ฿0.011 in 2Q 2020) The company reported a solid second quarter result with improved earnings and profit margins, although revenues were flat. Second quarter 2021 results: Revenue: ฿147.1m (flat on 2Q 2020). Net income: ฿11.7m (up 91% from 2Q 2020). Profit margin: 7.9% (up from 4.2% in 2Q 2020). Reported Earnings • Jul 09
First quarter 2021 earnings released: EPS ฿0.018 (vs ฿0.024 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿147.2m (down 17% from 1Q 2020). Net income: ฿10.1m (down 22% from 1Q 2020). Profit margin: 6.9% (down from 7.4% in 1Q 2020). The decrease in margin was driven by lower revenue.