BST:R9O

Stock Analysis Report

Executive Summary

Robinson Public Company Limited, together with its subsidiaries, operates a chain of department stores under the Robinson brand in Thailand.


Snowflake Analysis

Very undervalued 6 star dividend payer.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: R9O's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-68.1%

R9O

-11.2%

DE Multiline Retail

-2.7%

DE Market


1 Year Return

-72.3%

R9O

-41.4%

DE Multiline Retail

-20.4%

DE Market

Return vs Industry: R9O underperformed the German Multiline Retail industry which returned 8.3% over the past year.

Return vs Market: R9O underperformed the German Market which returned 13.7% over the past year.


Shareholder returns

R9OIndustryMarket
7 Day-68.1%-11.2%-2.7%
30 Day-73.8%-32.4%-18.4%
90 Day-73.0%-43.8%-26.7%
1 Year-71.7%-72.3%-37.6%-41.4%-18.1%-20.4%
3 Year-66.9%-69.0%-26.0%-37.0%-19.1%-25.9%
5 Year-58.3%-62.5%-48.0%-59.6%-19.5%-30.4%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Robinson 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: R9O (€0.51) is trading below our estimate of fair value (€1.52)

Significantly Below Fair Value: R9O is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: R9O is good value based on its PE Ratio (8.1x) compared to the Multiline Retail industry average (22.8x).

PE vs Market: R9O is good value based on its PE Ratio (8.1x) compared to the German market (20.9x).


Price to Earnings Growth Ratio

PEG Ratio: R9O is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: R9O is good value based on its PB Ratio (1.2x) compared to the XE Multiline Retail industry average (3x).


Next Steps

Future Growth

How is Robinson forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?

11.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: R9O's forecast earnings growth (11.6% per year) is above the savings rate (-0.4%).

Earnings vs Market: R9O's earnings (11.6% per year) are forecast to grow slower than the German market (13.1% per year).

High Growth Earnings: R9O's earnings are forecast to grow, but not significantly.

Revenue vs Market: R9O's revenue (2.3% per year) is forecast to grow slower than the German market (5% per year).

High Growth Revenue: R9O's revenue (2.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: R9O's Return on Equity is forecast to be low in 3 years time (16.6%).


Next Steps

Past Performance

How has Robinson performed over the past 5 years?

8.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: R9O has high quality earnings.

Growing Profit Margin: R9O's current net profit margins (8.4%) are lower than last year (13%).


Past Earnings Growth Analysis

Earnings Trend: R9O's earnings have grown by 8.7% per year over the past 5 years.

Accelerating Growth: R9O's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: R9O had negative earnings growth (-8.9%) over the past year, making it difficult to compare to the Multiline Retail industry average (4.7%).


Return on Equity

High ROE: R9O's Return on Equity (14.7%) is considered low.


Next Steps

Financial Health

How is Robinson's financial position?


Financial Position Analysis

Short Term Liabilities: R9O's short term assets (฿4.3B) do not cover its short term liabilities (฿7.2B).

Long Term Liabilities: R9O's short term assets (฿4.3B) exceed its long term liabilities (฿1.4B).


Debt to Equity History and Analysis

Debt Level: R9O's debt to equity ratio (9.2%) is considered satisfactory.

Reducing Debt: R9O's debt to equity ratio has reduced from 18.8% to 9.2% over the past 5 years.

Debt Coverage: R9O's debt is well covered by operating cash flow (235.6%).

Interest Coverage: R9O's interest payments on its debt are well covered by EBIT (16644.1x coverage).


Balance Sheet

Inventory Level: R9O has a high level of physical assets or inventory.

Debt Coverage by Assets: R9O's debt is covered by short term assets (assets are 2.4x debt).


Next Steps

Dividend

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

6.92%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: R9O's dividend (6.92%) is higher than the bottom 25% of dividend payers in the German market (1.31%).

High Dividend: R9O's dividend (6.92%) is in the top 25% of dividend payers in the German market (3.65%)


Stability and Growth of Payments

Stable Dividend: R9O's dividends per share have been stable in the past 10 years.

Growing Dividend: R9O's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (56%), R9O's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: R9O's dividends in 3 years are forecast to be well covered by earnings (49.6% payout ratio).


Next Steps

Management

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

2.1yrs

Average management tenure


CEO

Wuttikiat Techamongklapiwat (44yo)

2.25s

Tenure

฿238,000

Compensation

Mr. Wuttikiat Techamongklapiwat has been President of Robinson Public Company Limited since November 1, 2017. Mr. Techamongklapiwat served as Executive Vice President of Property and Lifestyle Mall at Robi ...


Leadership Team

NamePositionTenureCompensationOwnership
Wuttikiat Techamongklapiwat
President & Director2.25yrs฿238.00kno data
Prin Chirathivat
Executive Director13.83yrs฿736.00k0.21% ฿1.4m
Piya Nguiakaramahawongse
Executive Director13.83yrs฿694.50kno data
Yuwadee Chirathivat
Executive Director6yrs฿762.50k0.050% ฿317.0k
Ekachai Nitasanajarukul
Senior VP & CFO2.08yrsno datano data
Anan Tantipanyakun
Executive VP & Chief Operating Officer1.08yrsno datano data
Jiraphan Thongtan
General Manager of Investor Relations Department7.08yrsno datano data
Anuchit Sapa-asa
Chief Marketing Officer0.50yrno datano data
Tanakorn Sirigun
Senior VP & Head of HR Department Store1.08yrsno datano data
Orawan Tipsuwanporn
Senior VP & Head of Merchandising4.42yrsno datano data

2.1yrs

Average Tenure

50.5yo

Average Age

Experienced Management: R9O's management team is considered experienced (2.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Wuttikiat Techamongklapiwat
President & Director2.25yrs฿238.00kno data
Prin Chirathivat
Executive Director13.83yrs฿736.00k0.21% ฿1.4m
Piya Nguiakaramahawongse
Executive Director13.83yrs฿694.50kno data
Yuwadee Chirathivat
Executive Director6yrs฿762.50k0.050% ฿317.0k
Sudhitham Chirathivat
Vice Chairman of the Board16.08yrs฿798.50k0.12% ฿765.8k
Sudhisak Chirathivat
Chairman of the Board of Directors14.08yrs฿742.00k2.4% ฿15.3m
Vithaya Chavananand
Independent Director13.83yrs฿902.50kno data
Yodhin Anavil
Independent Director8.83yrs฿800.00kno data
Charan Mongkolchan
Independent Director11.83yrs฿890.00kno data
Somchai Apiwattanapron
Independent Director13.83yrs฿936.50kno data

13.8yrs

Average Tenure

66.5yo

Average Age

Experienced Board: R9O's board of directors are seasoned and experienced ( 13.8 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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

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


Key Information

  • Name: Robinson Public Company Limited
  • Ticker: R9O
  • Exchange: BST
  • Founded: 1979
  • Industry: Department Stores
  • Sector: Retail
  • Market Cap: ฿21.658b
  • Listing Market Cap: ฿638.139m
  • Shares outstanding: 1.11b
  • Website: https://www.robinson.co.th

Number of Employees


Location

  • Robinson Public Company Limited
  • 14-17, Rama 9 Road
  • 9/9 14th-17th Floor
  • Bangkok
  • 10310
  • Thailand

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ROBINSSET (The Stock Exchange of Thailand)YesOrdinary SharesTHTHBJan 1992
ROBINS-FTHAMSE (Bangkok-Alien Market Stock Exchange)THB3.55 (ALIEN MKT)THTHBMar 1993
R9OBST (Boerse-Stuttgart)THB3.55 (ALIEN MKT)DEEURMar 1993
ROBINS-RSET (The Stock Exchange of Thailand)NON VTG DEP RCPT REP 1 ORD THB3.55THTHBNov 2002

Biography

Robinson Public Company Limited, together with its subsidiaries, operates a chain of department stores under the Robinson brand in Thailand. The company operates 49 stores. It also engages in rental activities. The company was formerly known as Robinson Department Store Public Company Limited and changed its name to Robinson Public Company Limited in May 2017. Robinson Public Company Limited was founded in 1979 and is headquartered in Bangkok, Thailand. As of February 11, 2020, Robinson Public Company Limited operates as subsidiary of Central Retail Corporation Public Company Limited.  


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/20 22:22
End of Day Share Price2020/02/19 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.