FSMART Stock Overview

Provides prepaid mobile top-up services in Thailand. More details

FSMART fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	0/6
Past Performance	4/6
Financial Health	4/6
Dividends	3/6

Rewards

Price-To-Earnings ratio (16.2x) is below the Diversified Financial industry average (21x)

Earnings grew by 41% over the past year

Risk Analysis

High level of non-cash earnings

Earnings have declined by 14.3% per year over past 5 years

Highly volatile share price over the past 3 months compared to the TH market

Dividend of 5.51% is not well covered by free cash flows

My Notes

Capture your thoughts, links and company narrative

Forth Smart Service Public Company Limited Competitors

Asia Sermkij Leasing

SET:ASK

฿5.3b

Maybank Securities (Thailand)

SET:MST

฿5.3b

Asia Plus Group Holdings

SET:ASP

฿5.0b

SG Capital

SET:SGC

฿7.5b

Price History & Performance

Summary of share price highs, lows and changes for Forth Smart Service
Historical stock prices
Current Share Price	฿8.35
52 Week High	฿9.15
52 Week Low	฿4.60
Beta	0.022
1 Month Change	2.45%
3 Month Change	28.46%
1 Year Change	17.61%
3 Year Change	-33.73%
5 Year Change	30.47%
Change since IPO	63.73%

Recent updates

Shareholder Returns

	FSMART	TH Diversified Financial	TH Market
7D	1.8%	-0.3%	-3.1%
1Y	17.6%	-48.1%	-0.7%

Return vs Industry: FSMART exceeded the TH Diversified Financial industry which returned -50.7% over the past year.

Return vs Market: FSMART exceeded the TH Market which returned -0.4% over the past year.

Price Volatility

Is FSMART's price volatile compared to industry and market?
FSMART volatility
FSMART Average Weekly Movement	9.9%
Diversified Financial Industry Average Movement	9.9%
Market Average Movement	4.3%
10% most volatile stocks in TH Market	9.1%
10% least volatile stocks in TH Market	2.2%

Stable Share Price: FSMART's share price has been volatile over the past 3 months compared to the TH market.

Volatility Over Time: FSMART's weekly volatility (10%) has been stable over the past year, but is still higher than 75% of TH stocks.

About the Company

Founded	Employees	CEO	Website
2008	n/a	Pongchai Amatanon	www.boonterm.com

Forth Smart Service Public Company Limited, together with its subsidiaries, provides prepaid mobile top-up services in Thailand. The company also offers money transfer; online payment receival services; and advertising services through online top-up machines, as well as renders services relating to online top-up machines. It is also involved in the provision of nano finance and personal loan; and development and maintenance of software businesses.

Forth Smart Service Public Company Limited Fundamentals Summary

How do Forth Smart Service's earnings and revenue compare to its market cap?
FSMART fundamental statistics
Market cap	฿6.29b
Earnings (TTM)	฿388.33m
Revenue (TTM)	฿2.30b

16.2x

P/E Ratio

2.7x

P/S Ratio

Is FSMART overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
FSMART income statement (TTM)
Revenue	฿2.30b
Cost of Revenue	฿1.61b
Gross Profit	฿686.94m
Other Expenses	฿298.61m
Earnings	฿388.33m

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	0.52
Gross Margin	29.88%
Net Profit Margin	16.89%
Debt/Equity Ratio	60.6%

How did FSMART perform over the long term?

See historical performance and comparison

Dividends

5.5%

Current Dividend Yield

80%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/18 08:55
End of Day Share Price	2024/12/18 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Forth Smart Service Public Company Limited is covered by 4 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Jitra Amornthum	BNP Paribas Securities (Asia)
Piyachanok Somsueb	CGS International
Jitra Amornthum	FSS International Advisory

FSMART Stock Overview

Rewards

Risk Analysis

Forth Smart Service Public Company Limited Competitors

SET:ASK

฿5.3b

SET:MST

฿5.3b

SET:ASP

฿5.0b

SET:SGC

฿7.5b

Price History & Performance

Recent News & Updates

New major risk - Share price stability

New major risk - Earnings quality

Now 30% overvalued after recent price rise

Forth Smart Service Public Company Limited Announces Change of Acting in Finance and Accounting Director

Investor sentiment improves as stock rises 18%

First half dividend increased to ฿0.23

Recent updates

New major risk - Share price stability

New major risk - Earnings quality

Now 30% overvalued after recent price rise

Forth Smart Service Public Company Limited Announces Change of Acting in Finance and Accounting Director

Investor sentiment improves as stock rises 18%

First half dividend increased to ฿0.23

Second quarter 2024 earnings released: EPS: ฿0.13 (vs ฿0.099 in 2Q 2023)

New minor risk - Share price stability

New minor risk - Market cap size

First quarter 2024 earnings released: EPS: ฿0.12 (vs ฿0.10 in 1Q 2023)

Upcoming dividend of ฿0.18 per share

Final dividend increased to ฿0.18

Full year 2023 earnings released: EPS: ฿0.40 (vs ฿0.40 in FY 2022)

Forth Smart Service Public Company Limited, Annual General Meeting, Apr 25, 2024

Forth Smart Service Public Company Limited Announces Resignation of Siwaphant Ratanavirojwong as Director, Effective 31 December 2023

Third quarter 2023 earnings released: EPS: ฿0.09 (vs ฿0.11 in 3Q 2022)

New major risk - Revenue and earnings growth

Upcoming dividend of ฿0.18 per share at 3.7% yield

Second quarter 2023 earnings released: EPS: ฿0.10 (vs ฿0.11 in 2Q 2022)

Forth Smart Service Public Company Limited Announces Interim Dividend Payment for 2023, Payable on 06 September 2023

First quarter 2023 earnings released: EPS: ฿0.10 (vs ฿0.11 in 1Q 2022)

Upcoming dividend of ฿0.16 per share at 3.7% yield

Investor sentiment deteriorates as stock falls 16%

Forth Smart Service Public Company Limited Announces Executive Changes

Investor sentiment improves as stock rises 17%

Less than half of directors are independent

Forth Smart Service Public Company Limited Appoints Miss Apinya Kuljongcharoenlert as Acting Finance and Accounting Director, Effective on September 30, 2022

Investor sentiment improved over the past week

Upcoming dividend of ฿0.20 per share

Second quarter 2022 earnings released

Forth Smart Service Public Company Limited Announces Interim Cash Dividend for the Operating Period from January 1, 2022 to June 30, 2022, Payable on September 8, 2022

Forth Smart Service Public Company Limited Announces Executive Changes

First quarter 2022 earnings released: EPS: ฿0.11 (vs ฿0.15 in 1Q 2021)

Investor sentiment deteriorated over the past week

Less than half of directors are independent

Investor sentiment improved over the past week

Now 22% undervalued

Investor sentiment improved over the past week

Upcoming dividend of ฿0.20 per share

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Forth Smart Service Public Company Limited Proposes Dividend, Payable on April 29, 2022

Investor sentiment improved over the past week

Third quarter 2021 earnings released: ฿0.19 loss per share (vs ฿0.16 profit in 3Q 2020)

Forth Smart Service Units Non -Voting DR to Be Deleted from Other OTC

Upcoming dividend of ฿0.26 per share

Second quarter 2021 earnings released: EPS ฿0.15 (vs ฿0.14 in 2Q 2020)

Investor sentiment improved over the past week

Investor sentiment improved over the past week

First quarter 2021 earnings released: EPS ฿0.15 (vs ฿0.16 in 1Q 2020)

Investor sentiment improved over the past week

New 90-day high: ฿7.75

Full year 2020 earnings released: EPS ฿0.61 (vs ฿0.75 in FY 2019)

Forth Smart Service Public Company Limited, Annual General Meeting, Apr 21, 2021

Forth Smart Service Public Company Limited Announces Executive Changes

Third quarter 2020 earnings released: EPS ฿0.16

Forth Smart Service Public Company Limited(SET:FSMART) dropped from S&P Global BMI Index

New 90-day high: ฿7.60

New 90-day high - ฿6.95

First half earnings released