Board Change • May 01
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. 4 experienced directors. 3 highly experienced directors. Non Executive Independent Director Jaiyavat Navaraj was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 02
Full year 2025 earnings released: ฿0.004 loss per share (vs ฿0.016 loss in FY 2024) Full year 2025 results: ฿0.004 loss per share (improved from ฿0.016 loss in FY 2024). Revenue: ฿350.3m (down 3.6% from FY 2024). Net loss: ฿3.53m (loss narrowed 75% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 35 percentage points per year, which is a significant difference in performance. Announcement • Feb 25
Project Planning Service Public Company Limited, Annual General Meeting, Apr 24, 2026 Project Planning Service Public Company Limited, Annual General Meeting, Apr 24, 2026, at 10:00 SE Asia Standard Time. New Risk • Dec 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 8.5% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. 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). Share price has been highly volatile over the past 3 months (8.5% average weekly change). Earnings have declined by 15% per year over the past 5 years. Market cap is less than US$10m (฿163.4m market cap, or US$5.12m). Reported Earnings • Nov 12
Third quarter 2025 earnings released: ฿0.006 loss per share (vs ฿0.001 loss in 3Q 2024) Third quarter 2025 results: ฿0.006 loss per share (further deteriorated from ฿0.001 loss in 3Q 2024). Revenue: ฿84.9m (down 6.5% from 3Q 2024). Net loss: ฿5.17m (loss widened 331% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 14
Second quarter 2025 earnings released: ฿0.009 loss per share (vs ฿0.011 loss in 2Q 2024) Second quarter 2025 results: ฿0.009 loss per share (improved from ฿0.011 loss in 2Q 2024). Revenue: ฿83.2m (up 2.6% from 2Q 2024). Net loss: ฿8.15m (loss narrowed 17% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Reported Earnings • May 15
First quarter 2025 earnings released: ฿0.002 loss per share (vs ฿0.002 loss in 1Q 2024) First quarter 2025 results: ฿0.002 loss per share (in line with 1Q 2024). Revenue: ฿82.3m (down 12% from 1Q 2024). Net loss: ฿1.79m (loss widened 1.5% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 26
Full year 2024 earnings released: ฿0.016 loss per share (vs ฿0.021 loss in FY 2023) Full year 2024 results: ฿0.016 loss per share (improved from ฿0.021 loss in FY 2023). Revenue: ฿363.4m (down 12% from FY 2023). Net loss: ฿14.2m (loss narrowed 22% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Announcement • Feb 25
Project Planning Service Public Company Limited, Annual General Meeting, Apr 24, 2025 Project Planning Service Public Company Limited, Annual General Meeting, Apr 24, 2025, at 10:00 SE Asia Standard Time. Location: broadcast location is meeting room on 4th floor, project planning service public company limited, building no. 103, soi rama ix 60 (soi 7 seri 7), rama ix road, phatthanakan, suanluang, bangkok Thailand New Risk • Dec 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 8.8% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. 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). Share price has been highly volatile over the past 3 months (8.8% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Market cap is less than US$10m (฿172.0m market cap, or US$5.03m). Reported Earnings • Aug 14
Second quarter 2024 earnings released: ฿0.011 loss per share (vs ฿0.007 loss in 2Q 2023) Second quarter 2024 results: ฿0.011 loss per share (further deteriorated from ฿0.007 loss in 2Q 2023). Revenue: ฿81.1m (down 18% from 2Q 2023). Net loss: ฿9.81m (loss widened 53% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 46 percentage points per year, which is a significant difference in performance. Reported Earnings • May 16
First quarter 2024 earnings released: ฿0.002 loss per share (vs ฿0.002 profit in 1Q 2023) First quarter 2024 results: ฿0.002 loss per share (down from ฿0.002 profit in 1Q 2023). Revenue: ฿93.4m (down 3.2% from 1Q 2023). Net loss: ฿1.77m (down 218% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 15% per year. Announcement • Apr 26
Project Planning Service Public Company Limited Approves Omission of the Dividend Payment for Year 2023 Project Planning Service Public Company Limited announced that at the AGM held on 24 April 2024, approved to omit the dividend payment for year 2023 to the shareholders. New Risk • Apr 20
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿361.1m (US$9.80m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Market cap is less than US$10m (฿361.1m market cap, or US$9.80m). Minor Risk Share price has been volatile over the past 3 months (8.2% average weekly change). Reported Earnings • Feb 28
Full year 2023 earnings released: ฿0.021 loss per share (vs ฿0.026 profit in FY 2022) Full year 2023 results: ฿0.021 loss per share (down from ฿0.026 profit in FY 2022). Revenue: ฿414.0m (flat on FY 2022). Net loss: ฿18.2m (down 180% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Board Change • Jan 12
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 1 experienced director. 5 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Attawoot Papangkorn was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 11
Third quarter 2023 earnings released: ฿0.002 loss per share (vs ฿0.012 profit in 3Q 2022) Third quarter 2023 results: ฿0.002 loss per share (down from ฿0.012 profit in 3Q 2022). Revenue: ฿110.8m (up 8.0% from 3Q 2022). Net loss: ฿1.59m (down 115% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. New Risk • Oct 18
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿361.1m (US$9.92m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (฿361.1m market cap, or US$9.92m). 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 (7.4% average weekly change). Profit margins are more than 30% lower than last year (2.3% net profit margin). New Risk • Aug 11
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 44% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (44% net debt to equity). 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 (2.3% net profit margin). Market cap is less than US$100m (฿447.1m market cap, or US$12.7m). Reported Earnings • Aug 11
Second quarter 2023 earnings released: ฿0.007 loss per share (vs ฿0.01 profit in 2Q 2022) Second quarter 2023 results: ฿0.007 loss per share (down from ฿0.01 profit in 2Q 2022). Revenue: ฿99.4m (down 1.0% from 2Q 2022). Net loss: ฿6.42m (down 174% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 26
Upcoming dividend of ฿0.01 per share at 1.4% yield Eligible shareholders must have bought the stock before 03 May 2023. Payment date: 24 May 2023. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Thai dividend payers (6.2%). Lower than average of industry peers (2.0%). Board Change • Nov 16
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. 3 experienced directors. 4 highly experienced directors. Independent Director Chula Sukmanop was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 12
Second quarter 2022 earnings released: EPS: ฿0.01 (vs ฿0.004 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.01 (up from ฿0.004 in 2Q 2021). Revenue: ฿100.4m (up 11% from 2Q 2021). Net income: ฿8.64m (up 131% from 2Q 2021). Profit margin: 8.6% (up from 4.2% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Board Change • Jun 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. 3 experienced directors. 4 highly experienced directors. Independent Director Chula Sukmanop was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 15
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: ฿0.001 loss per share (up from ฿0.006 loss in 1Q 2021). Revenue: ฿91.8m (up 11% from 1Q 2021). Net loss: ฿642.2k (loss narrowed 87% from 1Q 2021). Revenue exceeded analyst estimates by 22%. Earnings per share (EPS) missed analyst estimates. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Board Change • May 02
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. 3 experienced directors. 4 highly experienced directors. Independent Director Chula Sukmanop was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 27
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: ฿0.024 (up from ฿0.03 loss in FY 2020). Revenue: ฿372.5m (down 3.4% from FY 2020). Net income: ฿20.9m (up ฿47.0m from FY 2020). Profit margin: 5.6% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Revenue exceeded analyst estimates by 22%. Earnings per share (EPS) missed analyst estimates by 23%. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS ฿0.019 (vs ฿0.003 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿105.4m (up 2.7% from 3Q 2020). Net income: ฿16.6m (up ฿18.9m from 3Q 2020). Profit margin: 16% (up from net loss in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Board Change • Aug 19
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Pisit Saeng-Xuto was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Executive Departure • Aug 19
Independent Director Supachai Sukhanindr has left the company On the 13th of August, Supachai Sukhanindr's tenure as Independent Director ended after 1.3 years in the role. We don't have any record of a personal shareholding under Supachai's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 3.83 years. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS ฿0.004 (vs ฿0.014 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿90.3m (up 11% from 2Q 2020). Net income: ฿3.75m (up ฿15.5m from 2Q 2020). Profit margin: 4.2% (up from net loss in 2Q 2020). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Reported Earnings • May 17
First quarter 2021 earnings released: ฿0.006 loss per share (vs ฿0.01 loss in 1Q 2020) The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were weaker. First quarter 2021 results: Revenue: ฿82.7m (down 20% from 1Q 2020). Net loss: ฿5.08m (loss narrowed 38% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 02
Full year 2020 earnings released: ฿0.03 loss per share (vs ฿0.009 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: ฿385.5m (down 14% from FY 2019). Net loss: ฿26.1m (down 451% from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 10
New 90-day high: ฿0.45 The company is up 25% from its price of ฿0.36 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 Construction industry, which is up 2.0% over the same period. Is New 90 Day High Low • Dec 02
New 90-day high: ฿0.39 The company is up 5.0% from its price of ฿0.37 on 03 September 2020. The Thai market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Construction industry, which is up 2.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: ฿0.003 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: ฿102.6m (down 3.5% from 3Q 2019). Net loss: ฿2.23m (down 140% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 121% per year but the company’s share price has only fallen by 44% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 19
New 90-day low: ฿0.34 The company is down 21% from its price of ฿0.43 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 Construction industry, which is down 14% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: ฿0.35 The company is down 24% from its price of ฿0.46 on 26 June 2020. The Thai market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is down 10.0% over the same period.