Board Change • May 14
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Thanwa Laohasiriwong was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 24
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: ฿1.72 (up from ฿1.65 in FY 2024). Revenue: ฿6.95b (down 8.0% from FY 2024). Net income: ฿730.5m (up 4.2% from FY 2024). Profit margin: 11% (up from 9.3% in FY 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) exceeded analyst estimates by 3.1%. Revenue is forecast to grow 2.5% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Declared Dividend • Feb 21
Dividend of ฿1.20 announced Shareholders will receive a dividend of ฿1.20. Ex-date: 5th March 2026 Payment date: 8th May 2026 Dividend yield will be 9.8%, which is higher than the industry average of 8.0%. Sustainability & Growth Dividend is not adequately covered by earnings (93% earnings payout ratio). However, it is covered by cash flows (71% cash payout ratio). The dividend has increased by an average of 9.6% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 3.6% to bring the payout ratio under control. However, EPS is expected to decline by 1.7% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • Feb 20
Somboon Advance Technology Public Company Limited, Annual General Meeting, Apr 24, 2026 Somboon Advance Technology Public Company Limited, Annual General Meeting, Apr 24, 2026, at 10:00 SE Asia Standard Time. Price Target Changed • Nov 22
Price target increased by 7.2% to ฿14.44 Up from ฿13.47, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ฿13.80. Stock is up 24% over the past year. The company is forecast to post earnings per share of ฿1.71 for next year compared to ฿1.65 last year. Reported Earnings • Nov 12
Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2025 results: EPS: ฿0.46 (up from ฿0.37 in 3Q 2024). Revenue: ฿1.71b (down 9.5% from 3Q 2024). Net income: ฿195.0m (up 23% from 3Q 2024). Profit margin: 11% (up from 8.4% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) exceeded analyst estimates by 15%. Revenue is forecast to grow 1.0% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 14% per year. Buy Or Sell Opportunity • Aug 21
Now 21% undervalued Over the last 90 days, the stock has risen 4.9% to ฿12.90. The fair value is estimated to be ฿16.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.3% over the last 3 years. Earnings per share has declined by 10%. Revenue is forecast to decline by 5.5% in 2 years. Earnings are forecast to decline by 22% in the next 2 years. Declared Dividend • Aug 10
First half dividend increased to ฿0.40 Dividend of ฿0.40 is 54% higher than last year. Ex-date: 21st August 2025 Payment date: 5th September 2025 Dividend yield will be 13%, which is higher than the industry average of 8.0%. Sustainability & Growth Dividend is covered by both earnings (89% earnings payout ratio) and cash flows (80% cash payout ratio). The dividend has increased by an average of 9.6% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share is expected to decline by 34% over the next 3 years. This means the payout ratio would increase to a potentially unsustainable range and the dividend may be at risk. Reported Earnings • Aug 09
Second quarter 2025 earnings released: EPS: ฿0.35 (vs ฿0.33 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.35 (up from ฿0.33 in 2Q 2024). Revenue: ฿1.67b (down 4.1% from 2Q 2024). Net income: ฿149.3m (up 6.5% from 2Q 2024). Profit margin: 8.9% (up from 8.1% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is expected to decline by 2.1% p.a. on average during the next 3 years, while revenues in the Auto Components industry in Thailand are expected to grow by 6.0%. Over the last 3 years on average, earnings per share has fallen by 10% per year and the company’s share price has also fallen by 10% per year. New Risk • May 30
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 9.0% 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 Risk Earnings are forecast to decline by an average of 9.0% per year for the foreseeable future. Minor Risk Dividend is not well covered by earnings (91% payout ratio). Reported Earnings • May 10
First quarter 2025 earnings released: EPS: ฿0.44 (vs ฿0.44 in 1Q 2024) First quarter 2025 results: EPS: ฿0.44 (in line with 1Q 2024). Revenue: ฿1.85b (down 10% from 1Q 2024). Net income: ฿189.2m (up 1.1% from 1Q 2024). Profit margin: 10% (up from 9.1% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.5% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 12% per year. Announcement • Apr 28
Somboon Advance Technology Public Company Limited Approves Dividend for the Fiscal Year Ended as At 31 December 2024, Payable on May 7, 2025 Somboon Advance Technology Public Company Limited at its AGM held on April 28, 2024 approved the appropriation of profit in respect of the year 2024 operating results as a dividend to the Company's shareholders at the rate of THB 1.50 per share (according to the Company's operating results for the fiscal year ended as at 31 December 2024 with the net profit of THB 700,720,158), which had already been partly paid by the Company as interim dividend at the rate of THB 0.26 per share on 6 September 2024, with the remaining amount of dividend to be paid from the Company's operating results for the year 2024 in the amount of THB 1.24 per share, totaling THB 527,240,428.56. These dividends are derived from net profit of the non- BOI promoted business, whereby the shareholders receiving dividend will be subject to 10% withholding tax deduction. The dividend will be paid to the shareholders whose names appear on 6 March 2025 (Record Date) which the Company specifies the names of shareholders entitled to attend the 2025 Annual General Meeting of Shareholders and receive the dividend and the Company scheduled the dividend payment date on 7 May 2025. New Risk • Feb 21
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 91% Cash payout ratio: 116% Dividend yield: 12% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 20
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: ฿1.65 (down from ฿2.30 in FY 2023). Revenue: ฿7.57b (down 18% from FY 2023). Net income: ฿700.7m (down 28% from FY 2023). Profit margin: 9.3% (down from 11% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) exceeded analyst estimates by 7.5%. Revenue is forecast to grow 3.8% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Announcement • Feb 19
Somboon Advance Technology Public Company Limited, Annual General Meeting, Apr 28, 2025 Somboon Advance Technology Public Company Limited, Annual General Meeting, Apr 28, 2025, at 10:00 SE Asia Standard Time. Major Estimate Revision • Aug 15
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿8.92b to ฿7.89b. EPS estimate fell from ฿2.02 to ฿1.65 per share. Net income forecast to shrink 7.3% next year vs 3.8% decline forecast for Auto Components industry in Thailand. Consensus price target down from ฿18.18 to ฿14.73. Share price fell 5.1% to ฿11.20 over the past week. Price Target Changed • Aug 13
Price target decreased by 11% to ฿16.15 Down from ฿18.18, the current price target is an average from 6 analysts. New target price is 39% above last closing price of ฿11.60. Stock is down 39% over the past year. The company is forecast to post earnings per share of ฿1.65 for next year compared to ฿2.30 last year. Declared Dividend • Aug 10
First half dividend reduced to ฿0.26 Dividend of ฿0.26 is 32% lower than last year. Ex-date: 21st August 2024 Payment date: 6th September 2024 Dividend yield will be 13%, which is higher than the industry average of 8.0%. Sustainability & Growth Dividend is covered by both earnings (64% earnings payout ratio) and cash flows (86% cash payout ratio). The dividend has increased by an average of 7.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: ฿0.33 (vs ฿0.52 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.33 (down from ฿0.52 in 2Q 2023). Revenue: ฿1.75b (down 20% from 2Q 2023). Net income: ฿140.2m (down 37% from 2Q 2023). Profit margin: 8.0% (down from 10% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. Announcement • Aug 09
Somboon Advance Technology Public Company Limited Announces Interim Dividend for the Operating Period from January 1, 2024 to June 30, 2024, Payable on September 6, 2024 Somboon Advance Technology Public Company Limited announced interim dividend of THB 0.26 per share for the operating period from January 1, 2024 to June 30, 2024, Payable on September 6, 2024. Record date for the right to receive dividends is August 22, 2024, Ex dividend date is August 21, 2024. Price Target Changed • May 11
Price target decreased by 7.1% to ฿19.90 Down from ฿21.42, the current price target is an average from 5 analysts. New target price is 25% above last closing price of ฿15.90. Stock is down 22% over the past year. The company is forecast to post earnings per share of ฿2.20 for next year compared to ฿2.30 last year. Reported Earnings • May 10
First quarter 2024 earnings released: EPS: ฿0.44 (vs ฿0.64 in 1Q 2023) First quarter 2024 results: EPS: ฿0.44 (down from ฿0.64 in 1Q 2023). Revenue: ฿2.06b (down 19% from 1Q 2023). Net income: ฿187.1m (down 32% from 1Q 2023). Profit margin: 9.1% (down from 11% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Apr 30
Somboon Advance Technology Public Company Limited Approves Dividend for the Year 2023, Payable on 8 May 2024 Somboon Advance Technology Public Company Limited approved the appropriation of profit in respect of the year 2023 operating results and the dividend payment to the Company's shareholders at the rate of THB 1.60 per share (according to the Company's operating results for the fiscal year ended as at 31 December 2023 with the net profit of THB 978,575,682), which had already been partly paid by the Company as interim dividend at the rate of THB 0.38 per share on 6 September 2023, with the remaining amount of dividend to be paid from the Company's operating results for the year 2023 in the amount of THB 1.22 per share, totaling THB 518,736,550.68. The entire amount of dividend is derived from the net profit of the non-BOI promoted business, whereby the shareholders receiving dividend are subject to 10% withholding tax deduction. The dividend will be paid to the shareholders whose names appear on 7 March 2024 (Record Date) which the Company specifies the names of shareholders entitled to attend the 2024 Annual General Meeting of Shareholders and receive the dividend and the Company scheduled the dividend payment date on 8 May 2024. Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: ฿2.30 (vs ฿2.21 in FY 2022) Full year 2023 results: EPS: ฿2.30 (up from ฿2.21 in FY 2022). Revenue: ฿9.20b (up 1.2% from FY 2022). Net income: ฿978.6m (up 4.1% from FY 2022). Profit margin: 11% (in line with FY 2022). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Auto Components industry in Thailand. 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 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • Feb 28
Upcoming dividend of ฿1.22 per share Eligible shareholders must have bought the stock before 06 March 2024. Payment date: 08 May 2024. Payout ratio is a comfortable 66% and the cash payout ratio is 82%. Trailing yield: 8.0%. Within top quartile of Thai dividend payers (6.4%). Higher than average of industry peers (6.2%). Declared Dividend • Feb 23
Dividend of ฿1.22 announced Shareholders will receive a dividend of ฿1.22. Ex-date: 6th March 2024 Payment date: 8th May 2024 Dividend yield will be 8.6%, which is higher than the industry average of 8.0%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (82% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 14% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 22
Somboon Advance Technology Public Company Limited, Annual General Meeting, Apr 29, 2024 Somboon Advance Technology Public Company Limited, Annual General Meeting, Apr 29, 2024, at 10:00 SE Asia Standard Time. Agenda: To consider and acknowledge the minutes of the 2023 AGM; to consider and acknowledge the company's operating result for the year 2023; to consider and approve balance sheet and profit and loss statements for the fiscal year ended as at 31st December 2023; to consider and acknowledge the payment of interim dividend; and to consider other matters. Reported Earnings • Nov 10
Third quarter 2023 earnings: EPS exceeds analyst expectations Third quarter 2023 results: EPS: ฿0.62 (up from ฿0.61 in 3Q 2022). Revenue: ฿2.36b (up 1.7% from 3Q 2022). Net income: ฿263.4m (up 1.6% from 3Q 2022). Profit margin: 11% (in line with 3Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 11%. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 16
Upcoming dividend of ฿0.38 per share at 7.9% yield Eligible shareholders must have bought the stock before 23 August 2023. Payment date: 06 September 2023. Payout ratio is a comfortable 66% but the company is paying out more than the cash it is generating. Trailing yield: 7.9%. Within top quartile of Thai dividend payers (6.4%). In line with average of industry peers (8.6%). Announcement • Aug 11
Somboon Advance Technology Public Company Limited Announces Interim Dividend for the Operating Period from January 1, 2023 to June 30, 2023, Payable on September 06, 2023 Somboon Advance Technology Public Company Limited announced interim dividend of THB 0.38 per share for the operating period from January 1, 2023 to June 30, 2023. Payment date is September 06, 2023 with record date for the right to receive dividends August 24, 2023 and Ex-dividend date is August 23, 2023. Reported Earnings • Aug 11
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: ฿0.52 (up from ฿0.49 in 2Q 2022). Revenue: ฿2.19b (up 2.6% from 2Q 2022). Net income: ฿223.2m (up 6.3% from 2Q 2022). Profit margin: 10% (in line with 2Q 2022). Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 8.3%. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Board Change • Jul 07
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Chairman of the Executive Board & Independent Director Sobson Ketsuwan was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Apr 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 5.2%. The fair value is estimated to be ฿25.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 16%. For the next 3 years, revenue is forecast to grow by 4.4% per annum. Earnings is also forecast to grow by 7.2% per annum over the same time period. Buying Opportunity • Mar 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 6.5%. The fair value is estimated to be ฿25.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 16%. For the next 3 years, revenue is forecast to grow by 4.3% per annum. Earnings is also forecast to grow by 7.4% per annum over the same time period. Upcoming Dividend • Mar 01
Upcoming dividend of ฿1.12 per share at 7.2% yield Eligible shareholders must have bought the stock before 08 March 2023. Payment date: 05 May 2023. Payout ratio is a comfortable 68% but the company is paying out more than the cash it is generating. Trailing yield: 7.2%. Within top quartile of Thai dividend payers (5.6%). Higher than average of industry peers (6.0%). Reported Earnings • Feb 27
Full year 2022 earnings: EPS in line with expectations, revenues disappoint Full year 2022 results: EPS: ฿2.21 (down from ฿2.24 in FY 2021). Revenue: ฿9.09b (up 4.3% from FY 2021). Net income: ฿940.0m (down 1.3% from FY 2021). Profit margin: 10% (in line with FY 2021). Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Auto Components industry in Thailand. Over the last 3 years on average, earnings per share has increased by 16% per year and the company’s share price has also increased by 16% per year. Announcement • Jan 18
Somboon Advance Technology Public Company Limited Appoints Porntip Sangsuk as CFO Somboon Advance Technology Public Company Limited announced the appointment of Mrs. Porntip Sangsuk as CFO. Effective date of appointment is 1 January 2023. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 7 highly experienced directors. Independent Director Suthad Setboonsarng was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Aug 17
Upcoming dividend of ฿0.38 per share Eligible shareholders must have bought the stock before 24 August 2022. Payment date: 06 September 2022. Payout ratio is a comfortable 73% and this is well supported by cash flows. Trailing yield: 8.3%. Within top quartile of Thai dividend payers (5.4%). In line with average of industry peers (9.2%). Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: ฿0.49 (vs ฿0.56 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.49 (down from ฿0.56 in 2Q 2021). Revenue: ฿2.13b (up 3.1% from 2Q 2021). Net income: ฿209.9m (down 12% from 2Q 2021). Profit margin: 9.8% (down from 12% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 5.6%, compared to a 3.4% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 2% per year. Reported Earnings • May 15
First quarter 2022 earnings: EPS exceeds analyst expectations First quarter 2022 results: EPS: ฿0.61 (down from ฿0.75 in 1Q 2021). Revenue: ฿2.37b (up 5.8% from 1Q 2021). Net income: ฿259.4m (down 19% from 1Q 2021). Profit margin: 11% (down from 14% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 11%. Over the next year, revenue is forecast to grow 5.5%, compared to a 4.6% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has remained flat. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 7 highly experienced directors. Independent Director Suthad Setboonsarng was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Feb 28
Upcoming dividend of ฿1.10 per share Eligible shareholders must have bought the stock before 07 March 2022. Payment date: 06 May 2022. Payout ratio is a comfortable 67% and this is well supported by cash flows. Trailing yield: 7.1%. Within top quartile of Thai dividend payers (5.1%). Higher than average of industry peers (6.2%). Reported Earnings • Feb 23
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: ฿2.24 (up from ฿0.87 in FY 2020). Revenue: ฿8.72b (up 45% from FY 2020). Net income: ฿952.7m (up 157% from FY 2020). Profit margin: 11% (up from 6.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 4.4%, compared to a 5.9% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Nov 16
Third quarter 2021 earnings released: EPS ฿0.50 (vs ฿0.19 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿2.04b (up 29% from 3Q 2020). Net income: ฿214.6m (up 165% from 3Q 2020). Profit margin: 11% (up from 5.1% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 18
Upcoming dividend of ฿0.40 per share Eligible shareholders must have bought the stock before 25 August 2021. Payment date: 07 September 2021. Trailing yield: 2.9%. Lower than top quartile of Thai dividend payers (5.1%). Lower than average of industry peers (7.5%). Price Target Changed • Jul 15
Price target increased to ฿24.12 Up from ฿22.24, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of ฿23.00. Stock is up 111% over the past year. Reported Earnings • May 18
First quarter 2021 earnings released: EPS ฿0.75 (vs ฿0.45 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿2.24b (up 20% from 1Q 2020). Net income: ฿320.5m (up 66% from 1Q 2020). Profit margin: 14% (up from 10% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Price Target Changed • May 04
Price target increased to ฿20.76 Up from ฿19.32, the current price target is an average from 7 analysts. New target price is 7.0% above last closing price of ฿19.40. Stock is up 70% over the past year. Major Estimate Revision • Feb 25
Analysts update estimates The 2021 consensus revenue estimate was lowered from ฿7.02b to ฿6.94b. Earnings per share (EPS) increased from ฿1.40 to ฿1.69 for the same period. Net income is expected to grow by 95% next year compared to 58% growth forecast for the Auto Components industry in Thailand. The consensus price target increased from ฿15.47 to ฿19.32. Share price is up 14% to ฿18.60 over the past week. Analyst Estimate Surprise Post Earnings • Feb 20
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) exceeded analyst estimates by 22%. Over the next year, revenue is forecast to grow 15%, compared to a 36% growth forecast for the Auto Components industry in Thailand. Reported Earnings • Feb 20
Full year 2020 earnings released: EPS ฿0.87 (vs ฿2.10 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿6.03b (down 26% from FY 2019). Net income: ฿371.2m (down 59% from FY 2019). Profit margin: 6.2% (down from 11% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 21% 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. Is New 90 Day High Low • Feb 09
New 90-day high: ฿17.70 The company is up 32% from its price of ฿13.40 on 11 November 2020. The Thai market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿16.00 per share. Price Target Changed • Jan 23
Price target raised to ฿14.83 Up from ฿13.80, the current price target is an average from 5 analysts. The new target price is 6.1% below the current share price of ฿15.80. As of last close, the stock is up 15% over the past year. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment improved over the past week After last week's 18% share price gain to ฿16.70, the stock is trading at a trailing P/E ratio of 20.7x, up from the previous P/E ratio of 17.5x. This compares to an average P/E of 24x in the Auto Components industry in Thailand. Total return to shareholders over the past three years is a loss of 5.6%. Is New 90 Day High Low • Dec 24
New 90-day high: ฿16.00 The company is up 19% from its price of ฿13.40 on 25 September 2020. The Thai market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿12.73 per share. Is New 90 Day High Low • Dec 09
New 90-day high: ฿15.30 The company is up 20% from its price of ฿12.70 on 10 September 2020. The Thai market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿10.75 per share. Is New 90 Day High Low • Nov 19
New 90-day high: ฿14.80 The company is up 32% from its price of ฿11.20 on 21 August 2020. The Thai market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿10.99 per share. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS ฿0.19 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿1.58b (down 22% from 3Q 2019). Net income: ฿80.9m (down 64% from 3Q 2019). Profit margin: 5.1% (down from 11% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 14% per year. Analyst Estimate Surprise Post Earnings • Nov 07
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 22%. Over the next year, revenue is forecast to grow 7.9%, compared to a 16% growth forecast for the Auto Components industry in Thailand. Price Target Changed • Oct 21
Price target raised to ฿12.60 Up from ฿11.65, the current price target is an average from 3 analysts. The new target price is 7.4% below the current share price of ฿13.60. As of last close, the stock is down 19% over the past year. Is New 90 Day High Low • Oct 20
New 90-day high: ฿13.70 The company is up 18% from its price of ฿11.60 on 22 July 2020. The Thai market is down 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿9.89 per share.