New Risk • Jul 28
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 10% 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 Share price has been highly volatile over the past 3 months (10% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Dividend per share is over 12x cash flows per share. Earnings have declined by 34% per year over the past 5 years. Minor Risk Market cap is less than US$100m (฿1.73b market cap, or US$51.6m). New Risk • Jun 17
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 9.9% 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 Share price has been highly volatile over the past 3 months (9.9% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Dividend per share is over 12x cash flows per share. Earnings have declined by 34% per year over the past 5 years. Minor Risk Market cap is less than US$100m (฿1.62b market cap, or US$49.8m). New Risk • Nov 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ฿3.24b (US$99.6m) This is considered a minor 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. Cash payout ratio: 132% Earnings have declined by 26% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (฿3.24b market cap, or US$99.6m). New Risk • Oct 07
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 6.5% 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: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 132% Earnings have declined by 26% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Shareholders have been diluted in the past year (16% increase in shares outstanding). Buy Or Sell Opportunity • Oct 07
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to ฿0.38. The fair value is estimated to be ฿0.30, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Meanwhile, the company became loss making. Declared Dividend • Aug 16
First half dividend of ฿0.01 announced Shareholders will receive a dividend of ฿0.01. Ex-date: 27th August 2025 Payment date: 12th September 2025 Dividend yield will be 6.3%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not covered by cash flows (132% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. Reported Earnings • Aug 16
Second quarter 2025 earnings released: ฿0.012 loss per share (vs ฿0.043 loss in 2Q 2024) Second quarter 2025 results: ฿0.012 loss per share (improved from ฿0.043 loss in 2Q 2024). Net loss: ฿130.7m (loss narrowed 67% from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. New Risk • Jun 23
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ฿3.24b (US$98.1m) This is considered a minor 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. Cash payout ratio: 347% Earnings have declined by 21% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (9.5% average weekly change). Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (฿3.24b market cap, or US$98.1m). New Risk • May 19
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. Cash payout ratio: 347% Dividend yield: 6.6% 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. 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. Cash payout ratio: 347% Earnings have declined by 21% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Shareholders have been diluted in the past year (16% increase in shares outstanding). Reported Earnings • May 17
First quarter 2025 earnings released: ฿0.031 loss per share (vs ฿0.073 profit in 1Q 2024) First quarter 2025 results: ฿0.031 loss per share (down from ฿0.073 profit in 1Q 2024). Net loss: ฿331.8m (down 149% from profit in 1Q 2024). 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 22% per year, which means it is significantly lagging earnings. Announcement • Apr 30
The Brooker Group Public Company Limited Approves Cash Dividend for Later 6 Months of 2024 The Brooker Group Public Company Limited at its AGM held on 29th April 2025 approved to pay dividends in the form of cash at THB 0.0125 per share, or approximately THB 135 million. The Shareholders should be informed of the interim dividend payment in the form of cash for the first 6 months of 2024 at the rate of THB 0.01 per share which was paid on 13 September 2024. The Company's Board of Directors (the "Board of Directors") has resolved to propose to the Shareholders for approval the final dividend payment as mentioned above at the rate of THB 0.0125 per share for the later 6 months of 2024 from the Company's retained earnings. Therefore, the total dividend for 2024 will equal to THB 0.0225 per share. Upcoming Dividend • Apr 30
Upcoming dividend of ฿0.013 per share Eligible shareholders must have bought the stock before 07 May 2025. Payment date: 23 May 2025. Payout ratio is a comfortable 48% but the company is not cash flow positive. Trailing yield: 6.1%. Lower than top quartile of Thai dividend payers (7.9%). Higher than average of industry peers (5.0%). Buy Or Sell Opportunity • Apr 24
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 40% to ฿0.35. The fair value is estimated to be ฿0.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Earnings per share has grown by 41%. New Risk • Apr 04
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ฿3.35b (US$97.9m) This is considered a minor 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 Earnings have declined by 14% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.6% average weekly change). Profit margins are more than 30% lower than last year (47% net profit margin). Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (฿3.35b market cap, or US$97.9m). Buy Or Sell Opportunity • Apr 03
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 39% to ฿0.33. The fair value is estimated to be ฿0.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Earnings per share has grown by 41%. New Risk • Mar 19
New major risk - Revenue and earnings growth Earnings have declined by 14% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 have declined by 14% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.8% average weekly change). Profit margins are more than 30% lower than last year (47% net profit margin). Shareholders have been diluted in the past year (16% increase in shares outstanding). Announcement • Mar 08
The Brooker Group Public Company Limited, Annual General Meeting, Apr 29, 2025 The Brooker Group Public Company Limited, Annual General Meeting, Apr 29, 2025, at 10:00 SE Asia Standard Time. Buy Or Sell Opportunity • Jan 17
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 9.8% to ฿0.56. The fair value is estimated to be ฿0.44, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 17% over the last 3 years. Meanwhile, the company has become profitable. New Risk • Dec 11
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 9.6% 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 Share price has been highly volatile over the past 3 months (9.6% average weekly change). High level of non-cash earnings (21% accrual ratio). Minor Risks Dividend is not well covered by cash flows (dividend per share is over 73x cash flows per share). Shareholders have been diluted in the past year (16% increase in shares outstanding). New Risk • Nov 21
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (21% accrual ratio). Minor Risks Dividend is not well covered by cash flows (dividend per share is over 73x cash flows per share). Share price has been volatile over the past 3 months (9.3% average weekly change). Shareholders have been diluted in the past year (16% increase in shares outstanding). Reported Earnings • Nov 17
Third quarter 2024 earnings released: ฿0.017 loss per share (vs ฿0.009 loss in 3Q 2023) Third quarter 2024 results: ฿0.017 loss per share (further deteriorated from ฿0.009 loss in 3Q 2023). Revenue: ฿65.4m (up 376% from 3Q 2023). Net loss: ฿181.8m (loss widened 116% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Oct 02
The Brooker Group Public Company Limited (SET:BTC), Sct Rental Car Company Limited, Loxbit Public Company Limited, Meesiri Company Limited and Yip In Tsoi Company Limited agreed to acquire Purple Ventures Company Limited from SCB X Public Company Limited (SET:SCB) for THB 2.0 billion. The Brooker Group Public Company Limited (SET:BTC), Sct Rental Car Company Limited, Loxbit Public Company Limited, Meesiri Company Limited and Yip In Tsoi Company Limited agreed to acquire Purple Ventures Company Limited from SCB X Public Company Limited (SET:SCB) for THB 2.0 billion on September 30, 2024. The deal consists of an initial payment of THB 400 million and an additional performance-based payment of up to THB 1,600 million. Reported Earnings • Aug 19
Second quarter 2024 earnings released: ฿0.043 loss per share (vs ฿0.002 loss in 2Q 2023) Second quarter 2024 results: ฿0.043 loss per share (further deteriorated from ฿0.002 loss in 2Q 2023). Revenue: ฿64.6m (up 80% from 2Q 2023). Net loss: ฿397.2m (loss widened ฿381.3m from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Aug 16
The Brooker Group Public Company Limited Declares Cash Dividend Payment Operating Period from 1 January-2024 to 30 June-2024, Payable on 13 September 2024 The Brooker Group Public Company Limited declared Cash dividend payment of (per share): THB 0.125, Operating period from 01-January-2024 to 30-June-2024. Record date for the right to receive: 28-August-2024; Ex-dividend date: 27-August-2024; Payment date: 13-September-2024. Declared Dividend • Aug 16
Dividend increased to ฿0.01 Dividend of ฿0.01 is 100% higher than last year. Ex-date: 27th August 2024 Payment date: 13th September 2024 Dividend yield will be 5.6%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (19% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 79% to shift the payout ratio to a potentially unsustainable range, which is more than the 19% EPS decline seen over the last 5 years. New Risk • Jun 10
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 25% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (25% accrual ratio). 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 (7.3% average weekly change). Reported Earnings • May 17
First quarter 2024 earnings released: EPS: ฿0.073 (vs ฿0.009 in 1Q 2023) First quarter 2024 results: EPS: ฿0.073 (up from ฿0.009 in 1Q 2023). Revenue: ฿595.1m (up ฿565.5m from 1Q 2023). Net income: ฿683.9m (up ฿595.5m from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 06
Upcoming dividend of ฿0.015 per share Eligible shareholders must have bought the stock before 13 March 2024. Payment date: 28 May 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.3%. Lower than top quartile of Thai dividend payers (6.3%). In line with average of industry peers (3.1%). Reported Earnings • Mar 02
Full year 2023 earnings released: EPS: ฿0.042 (vs ฿0.058 loss in FY 2022) Full year 2023 results: EPS: ฿0.042 (up from ฿0.058 loss in FY 2022). Revenue: ฿371.1m (up 60% from FY 2022). Net income: ฿387.3m (up ฿908.6m from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Announcement • Mar 02
The Brooker Group Public Company Limited, Annual General Meeting, Apr 29, 2024 The Brooker Group Public Company Limited, Annual General Meeting, Apr 29, 2024, at 10:00 SE Asia Standard Time. Agenda: To approve minutes of the 2023 Annual General Meeting of Shareholders held on April 27, 2023; to approve reporting of the operating results of the Company and approval of the audited Financial Statements for the Fiscal year 2023; to approve 1the allocation of gain (loss) for the year 2023 to retained (loss) earnings and the dividend for the year 2023; to approve the appointment of the auditors and the auditor's fee for fiscal year 2024; to approve the election of directors to replace the retiring directors by rotation; to approve the remuneration of the directors; to approve the amendment of Clause 4 of the Memorandum of Association of the Company; to approve the amendments of the Company's objectives; and to consider other business matters. Announcement • Mar 01
The Brooker Group Public Company Limited Proposes Dividend for Operating Period from July 1, 2023 to December 31, 2023, Payable on May 28, 2024 The Brooker Group Public Company Limited announced at the AGM to be held on April 29, 2024, proposed payment of dividends for the operating performance of the year 2023 to the shareholders of the Company as follows: To pay dividends in the form of cash at THB 0.015 per share, or approximately THB 139.73 million in the event that the number of issued and offered shares is equal to 9,315,208,558 shares (the existing number of the Company's shares). The Shareholders should be informed of the interim dividend payment in the form of cash for the first 6 months of 2023 at the rate of THB 0.005 per share which was paid on 8 September 2023. The Company's Board of Directors (the "Board of Directors") hasresolved to propose to the Shareholders for approval the final cash dividend payment as mentioned above at the rate of THB 0.015 per share for the later 6 months of 2023 from the Company's net profit and retained earnings. Therefore, the total dividend for 2023 will equal to THB 0.02 per share. The record date for shareholders who are entitled to receive such dividends (Record Date) is scheduled to be March 14, 2024, and the dividend payment is set to be on May 28, 2024. However, the dividend payment is not certain as it is subject to the approval by the Shareholders. Ex-dividend date is March 13, 2024. New Risk • Dec 04
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 6.7% 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: Major Risk Earnings have declined by 34% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (6.7% average weekly change). Revenue is less than US$5m (฿107m revenue, or US$3.1m). New Risk • Oct 20
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ฿3.54b (US$96.9m) This is considered a minor 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 Earnings have declined by 28% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Revenue is less than US$5m (฿111m revenue, or US$3.0m). Market cap is less than US$100m (฿3.54b market cap, or US$96.9m). Announcement • Aug 11
The Brooker Group Public Company Limited Declares Cash Dividend Payment Operating period from 01-January-2023 to 30-June-2023, Payable on 08-September-2023 The Brooker Group Public Company Limited declared Cash dividend payment of (per share): THB 0.005, Operating period from 01-January-2023 to 30-June-2023. Record date for the right to receive: 24-August-2023, Payment date: 08-September-2023. Reported Earnings • Aug 11
Second quarter 2023 earnings released: ฿0.002 loss per share (vs ฿0.04 loss in 2Q 2022) Second quarter 2023 results: ฿0.002 loss per share (improved from ฿0.04 loss in 2Q 2022). Net loss: ฿15.9m (loss narrowed 96% from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 107 percentage points per year, which is a significant difference in performance. Board Change • Nov 16
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. 6 non-independent directors. Independent Director Surong Bulakul was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 17
Second quarter 2022 earnings released: ฿0.04 loss per share (vs ฿0.036 loss in 2Q 2021) Second quarter 2022 results: ฿0.04 loss per share (down from ฿0.036 loss in 2Q 2021). Revenue: ฿52.1m (down 54% from 2Q 2021). Net loss: ฿352.9m (loss widened 32% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • May 14
First quarter 2022 earnings released: EPS: ฿0.005 (vs ฿0.025 in 1Q 2021) First quarter 2022 results: EPS: ฿0.005 (down from ฿0.025 in 1Q 2021). Revenue: ฿150.9m (down 35% from 1Q 2021). Net income: ฿41.1m (down 77% from 1Q 2021). Profit margin: 27% (down from 78% in 1Q 2021). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
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 not an independent director. The company's board is composed of: 1 new director. 1 experienced director. 8 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Chairman Narongchai Akrasanee was the last independent director to join the board, commencing their role in 2015. 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 • Mar 02
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ฿0.05 (up from ฿0.01 in FY 2020). Revenue: ฿924.2m (up 418% from FY 2020). Net income: ฿346.8m (up 449% from FY 2020). Profit margin: 38% (up from 36% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 25% per year. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improved over the past week After last week's 19% share price gain to ฿1.25, the stock trades at a trailing P/E ratio of 30.8x. Average trailing P/E is 25x in the Professional Services industry in Asia. Total returns to shareholders of 334% over the past three years. Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment improved over the past week After last week's 17% share price gain to ฿1.08, the stock trades at a trailing P/E ratio of 26.6x. Average trailing P/E is 26x in the Professional Services industry in Asia. Total returns to shareholders of 236% over the past three years. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS ฿0.03 (vs ฿0.001 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿329.6m (up ฿293.5m from 3Q 2020). Net income: ฿328.0m (up ฿318.7m from 3Q 2020). Profit margin: 100% (up from 26% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 20
Upcoming dividend of ฿0.015 per share Eligible shareholders must have bought the stock before 27 August 2021. Payment date: 15 September 2021. Trailing yield: 7.0%. Within top quartile of Thai dividend payers (5.0%). Higher than average of industry peers (0.8%). Reported Earnings • Aug 18
Second quarter 2021 earnings released: ฿0.039 loss per share (vs ฿0.045 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: ฿113.6m (down 70% from 2Q 2020). Net loss: ฿267.6m (down 199% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 13
First quarter 2021 earnings released: EPS ฿0.027 (vs ฿0.055 loss in 1Q 2020) The company reported a soft first quarter result with weaker revenues and profit margins, although earnings were improved. First quarter 2021 results: Revenue: ฿238.0m (down 174% from 1Q 2020). Net income: ฿182.1m (up ฿491.1m from 1Q 2020). Profit margin: 77% (down from 96% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 27
Full year 2020 earnings released: EPS ฿0.01 (vs ฿0.13 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿201.7m (down 89% from FY 2019). Net income: ฿63.2m (down 91% from FY 2019). Profit margin: 31% (down from 41% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Executive Departure • Feb 22
Director has left the company On the 18th of February, Robert McMillen's tenure as Director ended after 16.4 years in the role. We don't have any record of a personal shareholding under Robert's name. Robert is the only executive to leave the company over the last 12 months. Is New 90 Day High Low • Feb 08
New 90-day high: ฿0.51 The company is up 28% from its price of ฿0.40 on 10 November 2020. The Thai market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is up 5.0% over the same period. Is New 90 Day High Low • Jan 12
New 90-day high: ฿0.43 The company is up 10.0% from its price of ฿0.39 on 14 October 2020. The Thai market is up 21% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Professional Services industry, which is up 2.0% over the same period. Is New 90 Day High Low • Dec 17
New 90-day high: ฿0.42 The company is up 5.0% from its price of ฿0.40 on 18 September 2020. The Thai market is up 16% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Professional Services industry, which is up 2.0% over the same period. Upcoming Dividend • Nov 18
Upcoming Dividend of ฿0.015 Per Share Will be paid on the 9th of December to those who are registered shareholders by the 25th of November. The trailing yield of 8.8% is in the top quartile of Thai dividend payers (6.7%), and it is higher than industry peers (1.0%). Is New 90 Day High Low • Oct 23
New 90-day low: ฿0.38 The company is down 5.0% from its price of ฿0.40 on 24 July 2020. The Thai market is down 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Professional Services industry, which is up 18% over the same period.