Reported Earnings • May 19
First quarter 2026 earnings released: EPS: ฿4.28 (vs ฿4.01 in 1Q 2025) First quarter 2026 results: EPS: ฿4.28 (up from ฿4.01 in 1Q 2025). Revenue: ฿95.5m (flat on 1Q 2025). Net income: ฿25.7m (up 6.9% from 1Q 2025). Profit margin: 27% (up from 25% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 2% per year. Upcoming Dividend • Apr 10
Upcoming dividend of ฿11.50 per share Eligible shareholders must have bought the stock before 17 April 2026. Payment date: 05 May 2026. Payout ratio is a comfortable 71% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of Thai dividend payers (7.4%). In line with average of industry peers (4.7%). Announcement • Apr 07
Krungdhep Sophon Public Company Limited Announces Board Changes Krungdhep Sophon Public Company Limited announces appointment of Miss Vorrachaya Latthayaporn as Director. Ms. Worachaya Latthayaporn (Independent Director) replaces Mr. Polchak Nimwattana, whose term as Independent Director, Chair of the Audit Committee, and Member of the Nomination Committee expires on April 7, 2026. Declared Dividend • Feb 23
Dividend reduced to ฿11.50 Dividend of ฿11.50 is 8.0% lower than last year. Ex-date: 17th April 2026 Payment date: 5th May 2026 Dividend yield will be 4.1%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (71% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 8.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 3.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 21
Full year 2025 earnings released: EPS: ฿16.27 (vs ฿15.66 in FY 2024) Full year 2025 results: EPS: ฿16.27 (up from ฿15.66 in FY 2024). Revenue: ฿384.9m (up 6.1% from FY 2024). Net income: ฿97.6m (up 3.9% from FY 2024). Profit margin: 25% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 4% per year. Announcement • Feb 19
Krungdhep Sophon Public Company Limited, Annual General Meeting, Apr 07, 2026 Krungdhep Sophon Public Company Limited, Annual General Meeting, Apr 07, 2026, at 10:00 SE Asia Standard Time. Location: s31 hotel bangkok, bangkok Thailand Board Change • Dec 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Paradee Sinthawanarong was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 06
Third quarter 2025 earnings released: EPS: ฿4.23 (vs ฿3.49 in 3Q 2024) Third quarter 2025 results: EPS: ฿4.23 (up from ฿3.49 in 3Q 2024). Revenue: ฿96.4m (up 2.6% from 3Q 2024). Net income: ฿25.4m (up 21% from 3Q 2024). Profit margin: 26% (up from 22% in 3Q 2024). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 5% per year. Board Change • Sep 30
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Paradee Sinthawanarong was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Aug 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Paradee Sinthawanarong was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 09
Second quarter 2025 earnings released: EPS: ฿3.92 (vs ฿4.06 in 2Q 2024) Second quarter 2025 results: EPS: ฿3.92 (down from ฿4.06 in 2Q 2024). Revenue: ฿95.4m (up 8.7% from 2Q 2024). Net income: ฿23.5m (down 3.4% from 2Q 2024). Profit margin: 25% (down from 28% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 5% per year. Board Change • Aug 06
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Paradee Sinthawanarong was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Jun 13
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Paradee Sinthawanarong was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: ฿4.01 (vs ฿3.98 in 1Q 2024) First quarter 2025 results: EPS: ฿4.01 (up from ฿3.98 in 1Q 2024). Revenue: ฿95.6m (up 15% from 1Q 2024). Net income: ฿24.0m (flat on 1Q 2024). Profit margin: 25% (down from 29% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 4% per year. Board Change • May 08
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Paradee Sinthawanarong was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 03
Upcoming dividend of ฿12.50 per share Eligible shareholders must have bought the stock before 10 April 2025. Payment date: 30 April 2025. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Thai dividend payers (7.7%). In line with average of industry peers (4.0%). Declared Dividend • Feb 14
Dividend increased to ฿12.50 Dividend of ฿12.50 is 19% higher than last year. Ex-date: 10th April 2025 Payment date: 30th April 2025 Dividend yield will be 4.1%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (80% earnings payout ratio) and cash flows (64% cash payout ratio). The dividend has increased by an average of 8.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 11% to shift the payout ratio to a potentially unsustainable range, which is more than the 1.7% EPS decline seen over the last 5 years. Reported Earnings • Feb 12
Full year 2024 earnings released: EPS: ฿15.66 (vs ฿16.26 in FY 2023) Full year 2024 results: EPS: ฿15.66 (down from ฿16.26 in FY 2023). Revenue: ฿362.8m (up 5.9% from FY 2023). Net income: ฿93.9m (down 3.7% from FY 2023). Profit margin: 26% (down from 28% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ฿348, the stock trades at a trailing P/E ratio of 22.4x. Average trailing P/E is 12x in the Commercial Services industry in Thailand. Total returns to shareholders of 62% over the past three years. Board Change • Jan 13
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Paradee Sinthawanarong was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 25
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Paradee Sinthawanarong was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • Nov 27
Now 22% undervalued The stock has been flat over the last 90 days, currently trading at ฿276. The fair value is estimated to be ฿353, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 3.1%. Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ฿303, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 14x in the Commercial Services industry in Thailand. Total returns to shareholders of 25% over the past three years. Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ฿328, the stock trades at a trailing P/E ratio of 18.9x. Average trailing P/E is 18x in the Commercial Services industry in Thailand. Total returns to shareholders of 41% over the past three years. Buy Or Sell Opportunity • Sep 18
Now 22% undervalued Over the last 90 days, the stock has risen 2.6% to ฿274. The fair value is estimated to be ฿353, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 4.9%. Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: ฿4.06 (vs ฿3.34 in 2Q 2023) Second quarter 2024 results: EPS: ฿4.06 (up from ฿3.34 in 2Q 2023). Revenue: ฿87.7m (up 9.6% from 2Q 2023). Net income: ฿24.4m (up 22% from 2Q 2023). Profit margin: 28% (up from 25% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 1% per year. Buy Or Sell Opportunity • Jul 02
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at ฿258. The fair value is estimated to be ฿327, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.1% over the last 3 years. Earnings per share has grown by 4.3%. Buy Or Sell Opportunity • Jun 28
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at ฿258. The fair value is estimated to be ฿326, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.1% over the last 3 years. Earnings per share has grown by 4.3%. Reported Earnings • May 10
First quarter 2024 earnings released: EPS: ฿3.98 (vs ฿3.63 in 1Q 2023) First quarter 2024 results: EPS: ฿3.98 (up from ฿3.63 in 1Q 2023). Revenue: ฿83.1m (flat on 1Q 2023). Net income: ฿23.9m (up 9.9% from 1Q 2023). Profit margin: 29% (up from 26% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 1% per year. Declared Dividend • Apr 10
Dividend of ฿10.50 announced Shareholders will receive a dividend of ฿10.50. Ex-date: 19th April 2024 Payment date: 8th May 2024 Dividend yield will be 2.9%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (65% earnings payout ratio) and cash flows (64% cash payout ratio). The dividend has increased by an average of 6.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 1.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Board Change • Apr 10
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Sunti Tirapat was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Mar 12
Krungdhep Sophon Public Company Limited Announces Change of CFO Krungdhep Sophon Public Company Limited announced changing of CFO. The person assuring overall responsibility in accounting and finance (CFO). Position of CFO: Acting Financial Controller. Title: Miss. Name: Miss PIYAWAN. Surname: CHAIYAWONG. Effective Date of Termination is 14 March 2024. Position of CFO: Chief Financial Officer. Title: Miss. Name: Panchanee. Surname: Chungsomprasong. Effective Date of Appointment is March 15, 2024. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to ฿319, the stock trades at a trailing P/E ratio of 19.6x. Average trailing P/E is 53x in the Commercial Services industry in Thailand. Total returns to shareholders of 27% over the past three years. Declared Dividend • Feb 16
Dividend of ฿10.50 announced Shareholders will receive a dividend of ฿10.50. Ex-date: 19th April 2024 Payment date: 8th May 2024 Dividend yield will be 3.9%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (65% earnings payout ratio) and cash flows (64% cash payout ratio). The dividend has increased by an average of 7.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 1.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 14
Krungdhep Sophon Public Company Limited, Annual General Meeting, Apr 10, 2024 Krungdhep Sophon Public Company Limited, Annual General Meeting, Apr 10, 2024, at 10:00 SE Asia Standard Time. Location: Centara Grand & Bangkok Convention Centre at CentralWorld Lotus Suite 1-4 , 22nd Floor 999/99 Rama1, Pathumwan, Bangkok Thailand Agenda: To acknowledge the company's operating results during the year 2023 and the Annual Report; to consider and approve the company's financial statements for the period ending December 31, 2023; to consider and approve profit allocation and dividend payment for the year 2023; and to consider electing directors who will replace directors that have completed and election of new director; and to consider other matters. Board Change • Feb 14
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 Sunti Tirapat 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. Announcement • Dec 15
Krungdhep Sophon Public Company Limited Announces CFO Changes Krungdhep Sophon Public Company Limited announced CFO changes: Termination of Mr. Charoen Fongsataporn as Financial Controller (CFO), Effective date of termination is 31 December 2023. Appointment of Miss Piyawan Chaiyawong as acting financial controller (Acting CFO), effective date of appointment is 1 January 2024. Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: ฿5.26 (vs ฿3.74 in 3Q 2022) Third quarter 2023 results: EPS: ฿5.26 (up from ฿3.74 in 3Q 2022). Revenue: ฿94.6m (up 20% from 3Q 2022). Net income: ฿31.6m (up 41% from 3Q 2022). Profit margin: 33% (up from 28% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Nov 10
Krungdhep Sophon Public Company Limited Appoints Sunti Tirapat as Audit Committee and Independent Director, Effective 9 November 2023 Krungdhep Sophon Public Company Limited has appointed Mr. Sunti Tirapat as Audit Committee and Independent Director in replacement of completed their resignation director, effective from 9 November 2023 onwards, with hisdirectorship term equal to the remaining term of the resigning Director. Announcement • Nov 09
Krungdhep Sophon Public Company Limited Announces Resignation of Seksan Kiatsupaibul as Independent Director and Member of the Audit Committee Krungdhep Sophon Public Company Limited informed that Mr. Seksan Kiatsupaibul resigned from the position of Independent Director and Member of the Audit Committee due to personal reasons, effective November 8, 2023. Board Change • Aug 29
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. Independent Director Seksan Kiatsupaibul 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 11
Second quarter 2023 earnings released: EPS: ฿3.34 (vs ฿3.75 in 2Q 2022) Second quarter 2023 results: EPS: ฿3.34 (down from ฿3.75 in 2Q 2022). Revenue: ฿80.0m (up 1.1% from 2Q 2022). Net income: ฿20.0m (down 11% from 2Q 2022). Profit margin: 25% (down from 28% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 6% per year. Board Change • May 24
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. Independent Director Seksan Kiatsupaibul 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. Upcoming Dividend • Apr 04
Upcoming dividend of ฿10.00 per share at 3.9% yield Eligible shareholders must have bought the stock before 11 April 2023. Payment date: 24 April 2023. Payout ratio is a comfortable 66% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of Thai dividend payers (5.8%). Higher than average of industry peers (3.1%). Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: ฿3.74 (vs ฿3.82 in 3Q 2021) Third quarter 2022 results: EPS: ฿3.74 (down from ฿3.82 in 3Q 2021). Revenue: ฿78.6m (up 6.9% from 3Q 2021). Net income: ฿22.4m (down 2.1% from 3Q 2021). Profit margin: 28% (down from 31% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 7% per year. Reported Earnings • Aug 12
Second quarter 2022 earnings released: EPS: ฿3.74 (vs ฿3.82 in 2Q 2021) Second quarter 2022 results: EPS: ฿3.74 (down from ฿3.82 in 2Q 2021). Revenue: ฿79.2m (down 14% from 2Q 2021). Net income: ฿22.5m (down 2.0% from 2Q 2021). Profit margin: 28% (up from 25% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 6% per year. Board Change • May 31
High number of new directors Independent Director Seksan Kiatsupaibul was the last director to join the board, commencing their role in 2022. Reported Earnings • May 14
First quarter 2022 earnings released: EPS: ฿3.63 (vs ฿4.17 in 1Q 2021) First quarter 2022 results: EPS: ฿3.63 (down from ฿4.17 in 1Q 2021). Revenue: ฿75.9m (down 22% from 1Q 2021). Net income: ฿21.8m (down 13% from 1Q 2021). Profit margin: 29% (up from 26% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 2% per year. Upcoming Dividend • Apr 18
Upcoming dividend of ฿9.50 per share Eligible shareholders must have bought the stock before 25 April 2022. Payment date: 09 May 2022. Payout ratio is a comfortable 61% and the cash payout ratio is 82%. Trailing yield: 3.6%. Lower than top quartile of Thai dividend payers (5.1%). Higher than average of industry peers (3.1%). Board Change • Mar 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. 5 experienced directors. 5 highly experienced directors. Independent Director Acharaporn Hemakom 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. Reported Earnings • Feb 17
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ฿15.50 (up from ฿13.86 in FY 2020). Revenue: ฿338.0m (down 14% from FY 2020). Net income: ฿93.0m (up 12% from FY 2020). Profit margin: 28% (up from 21% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 7% per year. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS ฿3.82 (vs ฿1.64 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: ฿73.6m (down 23% from 3Q 2020). Net income: ฿22.9m (up 133% from 3Q 2020). Profit margin: 31% (up from 10% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year and the company’s share price has also fallen by 3% per year. Board Change • Oct 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. 5 experienced directors. 5 highly experienced directors. Independent Director Acharaporn Hemakom 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. Reported Earnings • Aug 14
Second quarter 2021 earnings released: EPS ฿3.82 (vs ฿4.41 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿92.2m (down 4.7% from 2Q 2020). Net income: ฿22.9m (down 13% from 2Q 2020). Profit margin: 25% (down from 27% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has remained flat. Reported Earnings • May 17
First quarter 2021 earnings released: EPS ฿4.17 (vs ฿3.93 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: ฿97.3m (down 2.4% from 1Q 2020). Net income: ฿25.0m (up 6.1% from 1Q 2020). Profit margin: 26% (up from 24% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat and the company’s share price has also remained flat. Upcoming Dividend • Apr 20
Upcoming dividend of ฿9.50 per share Eligible shareholders must have bought the stock before 27 April 2021. Payment date: 12 May 2021. Trailing yield: 3.4%. Lower than top quartile of Thai dividend payers (5.0%). Higher than average of industry peers (2.6%). Reported Earnings • Feb 20
Full year 2020 earnings released: EPS ฿13.86 (vs ฿17.04 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: ฿392.7m (up 5.9% from FY 2019). Net income: ฿83.2m (down 19% from FY 2019). Profit margin: 21% (down from 28% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 1% per year. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS ฿1.64 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿95.3m (down 9.9% from 3Q 2019). Net income: ฿9.85m (down 67% from 3Q 2019). Profit margin: 10% (down from 28% in 3Q 2019). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. 
