BST:2DC1

Stock Analysis Report

Executive Summary

Dynasty Ceramic Public Company Limited manufactures, sells, and distributes ceramic wall and floor tiles in Thailand and internationally.


Snowflake Analysis

Established dividend payer and good value.

Share Price & News

How has Dynasty Ceramic's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 2DC1's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

25.0%

2DC1

1.8%

DE Building

2.1%

DE Market


1 Year Return

-43.2%

2DC1

-7.7%

DE Building

-16.6%

DE Market

Return vs Industry: 2DC1 underperformed the German Building industry which returned -10.7% over the past year.

Return vs Market: 2DC1 underperformed the German Market which returned -20.9% over the past year.


Shareholder returns

2DC1IndustryMarket
7 Day25.0%1.8%2.1%
30 Day-20.6%-9.7%-12.6%
90 Day-36.7%-11.9%-22.9%
1 Year-38.6%-43.2%-4.0%-7.7%-14.2%-16.6%
3 Year-69.6%-74.7%-1.3%-11.9%-14.8%-21.9%
5 Year-69.3%-76.7%34.0%15.6%-16.6%-27.8%

Price Volatility Vs. Market

How volatile is Dynasty Ceramic's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Dynasty Ceramic undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 2DC1 (€0.03) is trading below our estimate of fair value (€0.07)

Significantly Below Fair Value: 2DC1 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 2DC1 is good value based on its PE Ratio (10.3x) compared to the Building industry average (14.9x).

PE vs Market: 2DC1 is good value based on its PE Ratio (10.3x) compared to the German market (16.6x).


Price to Earnings Growth Ratio

PEG Ratio: 2DC1 is poor value based on its PEG Ratio (1.4x)


Price to Book Ratio

PB vs Industry: 2DC1 is overvalued based on its PB Ratio (3.1x) compared to the DE Building industry average (1x).


Next Steps

Future Growth

How is Dynasty Ceramic forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

7.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2DC1's forecast earnings growth (7.2% per year) is above the savings rate (-0.4%).

Earnings vs Market: 2DC1's earnings (7.2% per year) are forecast to grow slower than the German market (14.1% per year).

High Growth Earnings: 2DC1's earnings are forecast to grow, but not significantly.

Revenue vs Market: 2DC1's revenue (2.5% per year) is forecast to grow slower than the German market (3.9% per year).

High Growth Revenue: 2DC1's revenue (2.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 2DC1's Return on Equity is forecast to be low in 3 years time (19.9%).


Next Steps

Past Performance

How has Dynasty Ceramic performed over the past 5 years?

-8.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 2DC1 has high quality earnings.

Growing Profit Margin: 2DC1's current net profit margins (12%) are lower than last year (12.2%).


Past Earnings Growth Analysis

Earnings Trend: 2DC1's earnings have declined by -8.6% per year over the past 5 years.

Accelerating Growth: 2DC1's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 2DC1 had negative earnings growth (-0.6%) over the past year, making it difficult to compare to the Building industry average (7.6%).


Return on Equity

High ROE: Whilst 2DC1's Return on Equity (31.62%) is high, this metric is skewed due to their high level of debt.


Next Steps

Financial Health

How is Dynasty Ceramic's financial position?


Financial Position Analysis

Short Term Liabilities: 2DC1's short term assets (฿2.6B) do not cover its short term liabilities (฿4.9B).

Long Term Liabilities: 2DC1's short term assets (฿2.6B) exceed its long term liabilities (฿275.9M).


Debt to Equity History and Analysis

Debt Level: 2DC1's debt to equity ratio (112.7%) is considered high.

Reducing Debt: 2DC1's debt to equity ratio has increased from 49.3% to 112.7% over the past 5 years.

Debt Coverage: 2DC1's debt is well covered by operating cash flow (37%).

Interest Coverage: 2DC1's interest payments on its debt are well covered by EBIT (37.1x coverage).


Balance Sheet


Next Steps

Dividend

What is Dynasty Ceramic's current dividend yield, its reliability and sustainability?

7.25%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 2DC1's dividend (7.25%) is higher than the bottom 25% of dividend payers in the German market (1.7%).

High Dividend: 2DC1's dividend (7.25%) is in the top 25% of dividend payers in the German market (4.86%)


Stability and Growth of Payments

Stable Dividend: 2DC1's dividend payments have been volatile in the past 10 years.

Growing Dividend: 2DC1's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (74.9%), 2DC1's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 2DC1's dividends in 3 years are forecast to be covered by earnings (87% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

10.3yrs

Average management tenure


CEO

Roongroj Saengsastra (69yo)

no data

Tenure

฿1,020,000

Compensation

Mr. Roongroj Saengsastra served as Managing Director and Director of The Royal Ceramic Industry Public Company Limited since April 28, 2017. Mr. Saengsastra serves as Chief Executive Officer of Dynasty Cer ...


Leadership Team

NamePositionTenureCompensationOwnership
Roongroj Saengsastra
Chairman & CEOno data฿1.02m24.44% ฿71.4m
Maruth Saengsastra
Chief Marketing & Sales Officer5yrs฿950.00k8.44% ฿24.7m
Monrak Saengsastra
Chief of Business Development7.25yrs฿950.00k8.44% ฿24.7m
Jaruwat Traithavil
Chief Production Officer & Executive Director2.67yrs฿600.00k0.11% ฿323.4k
Cattleya Saengsastra
Company Secretary & Executive Director22.25yrs฿950.00k2.53% ฿7.4m
Suthee Boonnak
Senior Vice President of Research & Technical Centerno datano datano data
Somruthai Boonyarit
Chief Internal Auditor & Secretaryno datano datano data

10.3yrs

Average Tenure

44yo

Average Age

Experienced Management: 2DC1's management team is seasoned and experienced (10.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Roongroj Saengsastra
Chairman & CEOno data฿1.02m24.44% ฿71.4m
Maruth Saengsastra
Chief Marketing & Sales Officer5yrs฿950.00k8.44% ฿24.7m
Monrak Saengsastra
Chief of Business Development7.25yrs฿950.00k8.44% ฿24.7m
Jaruwat Traithavil
Chief Production Officer & Executive Director2.67yrs฿600.00k0.11% ฿323.4k
Cattleya Saengsastra
Company Secretary & Executive Director22.25yrs฿950.00k2.53% ฿7.4m
Chaisith Viriyamettakul
Director22.25yrs฿650.00k5.68% ฿16.6m
Yuthasak Sasiprapha
Independent Director5yrs฿890.00kno data
Surasak Kosiyajinda
Independent Director22yrs฿850.00kno data
Suvit Smarnpanchai
Director22.25yrs฿650.00k2.21% ฿6.5m
Siripong Tinnarat
Independent Director3yrs฿750.00kno data

14.6yrs

Average Tenure

69.5yo

Average Age

Experienced Board: 2DC1's board of directors are seasoned and experienced ( 14.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 7%.


Top Shareholders

Company Information

Dynasty Ceramic Public Company Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Dynasty Ceramic Public Company Limited
  • Ticker: 2DC1
  • Exchange: BST
  • Founded: 1989
  • Industry: Building Products
  • Sector: Capital Goods
  • Market Cap: ฿10.413b
  • Listing Market Cap: ฿292.327m
  • Shares outstanding: 7.23b
  • Website: https://www.dynastyceramic.com

Location

  • Dynasty Ceramic Public Company Limited
  • 37/7 Suthisarn-Vinijchai Road
  • Samsen-Nok Sub-district
  • Bangkok
  • 10310
  • Thailand

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DCCSET (The Stock Exchange of Thailand)YesOrdinary SharesTHTHBJan 1992
DCC-RSET (The Stock Exchange of Thailand)NON VTG DEP RCPT REP 1 ORD THB1THTHBAug 2001
2DC1BST (Boerse-Stuttgart)THB0.1(ALIEN MKT)DEEURJan 2006

Biography

Dynasty Ceramic Public Company Limited manufactures, sells, and distributes ceramic wall and floor tiles in Thailand and internationally. The company offers its products under the Dynasty, Tomahawk, Jaguar, and Nava brands. It also sells sanitary wares and other related products, such as grout tiles. The company was formerly known as Royal Floor Tiles Co. Ltd. Dynasty Ceramic Public Company Limited was founded in 1989 and is headquartered in Bangkok, Thailand. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/06 23:41
End of Day Share Price2020/04/06 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.