New Risk • Jul 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 6.1% 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 Market cap is less than US$10m (฿203.3m market cap, or US$6.10m). Minor Risk Share price has been volatile over the past 3 months (6.1% average weekly change). Reported Earnings • May 15
Third quarter 2026 earnings released: EPS: ฿0.31 (vs ฿0.09 loss in 3Q 2025) Third quarter 2026 results: EPS: ฿0.31 (up from ฿0.09 loss in 3Q 2025). Revenue: ฿133.3m (down 24% from 3Q 2025). Net income: ฿14.1m (up ฿18.2m from 3Q 2025). Profit margin: 11% (up from net loss in 3Q 2025). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 11
Second quarter 2026 earnings released: ฿0.002 loss per share (vs ฿0.30 loss in 2Q 2025) Second quarter 2026 results: ฿0.002 loss per share (improved from ฿0.30 loss in 2Q 2025). Revenue: ฿108.4m (down 22% from 2Q 2025). Net loss: ฿107.5k (loss narrowed 99% from 2Q 2025). Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 27
Full year 2025 earnings released: ฿0.24 loss per share (vs ฿0.49 profit in FY 2024) Full year 2025 results: ฿0.24 loss per share (down from ฿0.49 profit in FY 2024). Revenue: ฿637.3m (down 12% from FY 2024). Net loss: ฿10.9m (down 149% from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. Announcement • Aug 23
Asia Fiber Public Company Limited, Annual General Meeting, Oct 06, 2025 Asia Fiber Public Company Limited, Annual General Meeting, Oct 06, 2025, at 13:00 SE Asia Standard Time. Reported Earnings • May 11
Third quarter 2025 earnings released: ฿0.09 loss per share (vs ฿0.08 profit in 3Q 2024) Third quarter 2025 results: ฿0.09 loss per share (down from ฿0.08 profit in 3Q 2024). Revenue: ฿176.4m (down 8.5% from 3Q 2024). Net loss: ฿4.00m (down 208% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 25% per year, which means it is performing significantly worse than earnings. Reported Earnings • Feb 12
Second quarter 2025 earnings released: ฿0.30 loss per share (vs ฿0.07 loss in 2Q 2024) Second quarter 2025 results: ฿0.30 loss per share (further deteriorated from ฿0.07 loss in 2Q 2024). Revenue: ฿139.3m (down 5.5% from 2Q 2024). Net loss: ฿13.5m (loss widened 303% from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 13
First quarter 2025 earnings released: ฿0.20 loss per share (vs ฿0.01 loss in 1Q 2024) First quarter 2025 results: ฿0.20 loss per share (further deteriorated from ฿0.01 loss in 1Q 2024). Revenue: ฿172.8m (down 3.5% from 1Q 2024). Net loss: ฿8.99m (loss widened ฿8.69m from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. New Risk • Sep 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 8.4% 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 Market cap is less than US$10m (฿303.1m market cap, or US$8.86m). Minor Risk Share price has been volatile over the past 3 months (8.4% average weekly change). Valuation Update With 7 Day Price Move • Sep 03
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ฿5.75, the stock trades at a trailing P/E ratio of 11.8x. Average trailing P/E is 14x in the Luxury industry in Thailand. Total loss to shareholders of 55% over the past three years. Reported Earnings • Aug 28
Full year 2024 earnings released: EPS: ฿0.49 (vs ฿1.70 loss in FY 2023) Full year 2024 results: EPS: ฿0.49 (up from ฿1.70 loss in FY 2023). Revenue: ฿720.7m (down 2.0% from FY 2023). Net income: ฿22.3m (up ฿99.6m from FY 2023). Profit margin: 3.1% (up from net loss in FY 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 48 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Aug 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 10.0% to ฿4.68. The fair value is estimated to be ฿5.96, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.5% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • May 12
Third quarter 2024 earnings released: EPS: ฿0.08 (vs ฿0.50 loss in 3Q 2023) Third quarter 2024 results: EPS: ฿0.08 (up from ฿0.50 loss in 3Q 2023). Revenue: ฿192.8m (down 6.1% from 3Q 2023). Net income: ฿3.70m (up ฿26.6m from 3Q 2023). Profit margin: 1.9% (up from net loss in 3Q 2023). The move to profitability was driven by lower expenses. 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 • May 11
Asia Fiber Public Company Limited, Annual General Meeting, Oct 07, 2024 Asia Fiber Public Company Limited, Annual General Meeting, Oct 07, 2024, at 14:00 SE Asia Standard Time. Location: the Corporate Meeting Room, 33/133-136 Surawongse Road, Suriyawongse Sub-District, Bangrak, Bangkok Thailand Reported Earnings • Feb 13
Second quarter 2024 earnings released: ฿0.07 loss per share (vs ฿0.94 loss in 2Q 2023) Second quarter 2024 results: ฿0.07 loss per share (improved from ฿0.94 loss in 2Q 2023). Revenue: ฿147.4m (down 15% from 2Q 2023). Net loss: ฿3.34m (loss narrowed 92% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 09
First quarter 2024 earnings released: ฿0.01 loss per share (vs ฿0.16 loss in 1Q 2023) First quarter 2024 results: ฿0.01 loss per share (improved from ฿0.16 loss in 1Q 2023). Revenue: ฿179.1m (down 7.5% from 1Q 2023). Net loss: ฿303.2k (loss narrowed 96% from 1Q 2023). 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 26
Full year 2023 earnings released: ฿1.70 loss per share (vs ฿0.65 profit in FY 2022) Full year 2023 results: ฿1.70 loss per share (down from ฿0.65 profit in FY 2022). Revenue: ฿735.3m (down 29% from FY 2022). Net loss: ฿77.4m (down 361% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • May 10
Asia Fiber Public Company Limited, Annual General Meeting, Oct 09, 2023 Asia Fiber Public Company Limited, Annual General Meeting, Oct 09, 2023, at 14:00 SE Asia Standard Time. Location: Corporate Meeting Room, 33/133-136 Surawongse Road Suriyawongse Sub-District, Bangrak Bangkok Thailand Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 10 highly experienced directors. 3 independent directors (7 non-independent directors). Independent Director Thong-Thai Chaeng was the last independent director to join the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Oct 11
Asia Fiber Public Company Limited Approves Dividend Payment for the Operation Results for the Year 2021/2022 Asia Fiber Public Company Limited at it's AGM approved dividend payment for the operation results for the year 2021/2022 at the rate of THB 0.14 per share. Upcoming Dividend • Sep 01
Inaugural dividend of ฿0.14 per share Eligible shareholders must have bought the stock before 08 September 2022. Payment date: 10 November 2022. This is the first dividend for Asia Fiber since going public. The average dividend yield among industry peers is 3.5%. Reported Earnings • Aug 27
Full year 2022 earnings released: EPS: ฿0.65 (vs ฿0.90 in FY 2021) Full year 2022 results: EPS: ฿0.65 (down from ฿0.90 in FY 2021). Revenue: ฿1.03b (up 37% from FY 2021). Net income: ฿29.7m (down 28% from FY 2021). Profit margin: 2.9% (down from 5.4% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improved over the past week After last week's 26% share price gain to ฿13.50, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 14x in the Luxury industry in Thailand. Total returns to shareholders of 82% over the past three years. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment deteriorated over the past week After last week's 29% share price decline to ฿11.00, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 19x in the Luxury industry in Thailand. Total returns to shareholders of 36% over the past three years. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improved over the past week After last week's 23% share price gain to ฿14.00, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 19x in the Luxury industry in Thailand. Total returns to shareholders of 70% over the past three years. Announcement • May 25
Asia Fiber Public Company Limited, Annual General Meeting, Oct 10, 2022 Asia Fiber Public Company Limited, Annual General Meeting, Oct 10, 2022, at 07:00 Coordinated Universal Time. Location: Corporate Meeting Room, 33/133-136 Surawongse Road Suriyawongse Sub-District, Bangrak Bangkok Thailand Valuation Update With 7 Day Price Move • May 23
Investor sentiment improved over the past week After last week's 34% share price gain to ฿12.10, the stock trades at a trailing P/E ratio of 11.1x. Average trailing P/E is 18x in the Luxury industry in Thailand. Total returns to shareholders of 42% over the past three years. Reported Earnings • Feb 13
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: EPS: ฿0.11 (up from ฿0.009 loss in 2Q 2021). Revenue: ฿283.4m (up 110% from 2Q 2021). Net income: ฿4.87m (up ฿5.33m from 2Q 2021). Profit margin: 1.7% (up from net loss in 2Q 2021). The move to profitability 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 82% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 18
First quarter 2022 earnings released: EPS ฿0.04 (vs ฿0.03 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ฿204.1m (up 52% from 1Q 2021). Net income: ฿1.84m (up ฿3.38m from 1Q 2021). Profit margin: 0.9% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 18% share price gain to ฿12.20, the stock trades at a trailing P/E ratio of 79.6x. Average trailing P/E is 17x in the Luxury industry in Thailand. Total returns to shareholders of 33% over the past three years. Reported Earnings • Aug 29
Full year 2021 earnings released: EPS ฿0.90 (vs ฿0.94 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ฿755.1m (up 32% from FY 2020). Net income: ฿41.0m (up ฿83.7m from FY 2020). Profit margin: 5.4% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improved over the past week After last week's 17% share price gain to ฿9.85, the stock trades at a trailing P/E ratio of 64.3x. Average trailing P/E is 19x in the Luxury industry in Thailand. Total returns to shareholders of 8.2% over the past three years. Director Overboarding • Aug 13
Director Mongkol Mungkornkanok has joined 3rd company board Executive Chairman Mongkol Mungkornkanok has been appointed to the board of United Paper Public Company Limited (SET:UTP). Mungkornkanok now sits on a total of 3 company boards. With 3 board positions including the role of CEO at United Paper Public Company Limited (SET:UTP), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improved over the past week After last week's 16% share price gain to ฿10.20, the stock trades at a trailing P/E ratio of 66.5x. Average trailing P/E is 20x in the Luxury industry in Thailand. Total returns to shareholders of 19% over the past three years. Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment deteriorated over the past week After last week's 20% share price decline to ฿10.80, the stock trades at a trailing P/E ratio of 70.5x. Average trailing P/E is 20x in the Luxury industry in Thailand. Total returns to shareholders of 23% over the past three years. Valuation Update With 7 Day Price Move • May 25
Investor sentiment improved over the past week After last week's 22% share price gain to ฿9.15, the stock trades at a trailing P/E ratio of 65.2x. Average trailing P/E is 19x in the Luxury industry in Thailand. Total returns to shareholders of 1.7% over the past three years. Reported Earnings • May 17
Third quarter 2021 earnings released: EPS ฿0.43 (vs ฿0.03 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿247.0m (up 29% from 3Q 2020). Net income: ฿19.5m (up ฿18.3m from 3Q 2020). Profit margin: 7.9% (up from 0.6% 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 26% 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. Reported Earnings • Feb 13
Second quarter 2021 earnings released: ฿0.01 loss per share (vs ฿0.48 loss in 2Q 2020) The company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2021 results: Revenue: ฿134.8m (down 6.2% from 2Q 2020). Net loss: ฿455.7k (loss narrowed 98% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 11
New 90-day low: ฿5.55 The company is down 4.0% from its price of ฿5.80 on 11 November 2020. The Thai market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 2.0% over the same period. Is New 90 Day High Low • Dec 23
New 90-day low: ฿5.70 The company is down 5.0% from its price of ฿6.00 on 23 September 2020. The Thai market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is flat over the same period. Reported Earnings • Nov 17
First quarter 2021 earnings released: ฿0.03 loss per share 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: ฿134.1m (down 8.8% from 1Q 2020). Net loss: ฿1.54m (loss narrowed 86% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 82% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 02
New 90-day low: ฿5.80 The company is down 4.0% from its price of ฿6.05 on 04 August 2020. The Thai market is down 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Luxury industry, which is up 5.0% over the same period.