Reported Earnings • Jul 21
Second quarter 2026 earnings: EPS exceeds analyst expectations Second quarter 2026 results: EPS: ฿0.86 (up from ฿0.73 in 2Q 2025). Revenue: ฿5.16b (up 7.6% from 2Q 2025). Net income: ฿2.23b (up 18% from 2Q 2025). Profit margin: 43% (up from 40% in 2Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.7%. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Consumer Finance industry in Thailand. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Price Target Changed • Jul 20
Price target increased by 12% to ฿41.00 Up from ฿36.50, the current price target is an average from 14 analysts. New target price is approximately in line with last closing price of ฿40.50. Stock is up 42% over the past year. The company is forecast to post earnings per share of ฿3.26 for next year compared to ฿3.02 last year. Buy Or Sell Opportunity • Jun 04
Now 22% undervalued Over the last 90 days, the stock has risen 1.7% to ฿30.00. The fair value is estimated to be ฿38.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.3% over the last 3 years. Earnings per share has grown by 3.4%. Revenue is forecast to grow by 34% in 2 years. Earnings are forecast to grow by 4.1% in the next 2 years. Buy Or Sell Opportunity • May 08
Now 20% undervalued Over the last 90 days, the stock has risen 3.5% to ฿29.75. The fair value is estimated to be ฿37.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.3% over the last 3 years. Earnings per share has grown by 3.4%. Revenue is forecast to grow by 34% in 2 years. Earnings are forecast to grow by 4.3% in the next 2 years. Reported Earnings • Apr 18
First quarter 2026 earnings: EPS exceeds analyst expectations First quarter 2026 results: EPS: ฿0.84 (up from ฿0.72 in 1Q 2025). Revenue: ฿5.07b (up 6.9% from 1Q 2025). Net income: ฿2.17b (up 17% from 1Q 2025). Profit margin: 43% (up from 39% in 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.9%. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Consumer Finance industry in Thailand. 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 19% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 03
Upcoming dividend of ฿1.77 per share Eligible shareholders must have bought the stock before 10 April 2026. Payment date: 30 April 2026. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Thai dividend payers (7.4%). In line with average of industry peers (4.1%). Announcement • Apr 02
Krungthai Card Public Company Limited Announces Executive Changes Krungthai Card Public Company Limited at its Annual General Shareholders’ Meeting held on April 2, 2026 approved the appointment of Mr. Suripong Tantiyanon as director of the company in replacement of Mr. Somchai Kuvijitsuwan, whose term expired by rotation. Declared Dividend • Feb 16
Dividend increased to ฿1.77 Dividend of ฿1.77 is 34% higher than last year. Ex-date: 10th April 2026 Payment date: 30th April 2026 Dividend yield will be 5.8%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is well covered by both earnings (45% earnings payout ratio) and cash flows (39% cash payout ratio). The dividend has increased by an average of 17% 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. EPS is expected to grow by 9.7% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 14
Krungthai Card Public Company Limited announces Annual dividend, payable on April 30, 2026 Krungthai Card Public Company Limited announced Annual dividend of THB 1.7700 per share payable on April 30, 2026, ex-date on April 10, 2026 and record date on April 16, 2026. Announcement • Feb 13
Krungthai Card Public Company Limited, Annual General Meeting, Apr 02, 2026 Krungthai Card Public Company Limited, Annual General Meeting, Apr 02, 2026, at 09:00 SE Asia Standard Time. Reported Earnings • Jan 15
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: ฿3.02 (up from ฿2.88 in FY 2024). Revenue: ฿19.9b (up 6.4% from FY 2024). Net income: ฿7.78b (up 4.6% from FY 2024). Profit margin: 39% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.1%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Consumer Finance industry in Thailand. 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 23% per year, which means it is significantly lagging earnings. Announcement • Jan 12
Krungthai Card Public Company Limited to Report Fiscal Year 2025 Results on Jan 14, 2026 Krungthai Card Public Company Limited announced that they will report fiscal year 2025 results at 12:30 PM, SE Asia Standard Time on Jan 14, 2026 Reported Earnings • Oct 19
Third quarter 2025 earnings: EPS exceeds analyst expectations Third quarter 2025 results: EPS: ฿0.76 (up from ฿0.74 in 3Q 2024). Revenue: ฿4.99b (up 4.5% from 3Q 2024). Net income: ฿1.95b (up 1.7% from 3Q 2024). Profit margin: 39% (down from 40% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.3%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Consumer Finance industry in Thailand. 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 19% per year, which means it is significantly lagging earnings. Price Target Changed • Jul 21
Price target decreased by 7.6% to ฿33.83 Down from ฿36.62, the current price target is an average from 12 analysts. New target price is 19% above last closing price of ฿28.50. Stock is down 28% over the past year. The company is forecast to post earnings per share of ฿2.94 for next year compared to ฿2.88 last year. Reported Earnings • Jul 19
Second quarter 2025 earnings: Revenues and EPS in line with analyst expectations Second quarter 2025 results: EPS: ฿0.73 (up from ฿0.71 in 2Q 2024). Revenue: ฿4.79b (up 4.6% from 2Q 2024). Net income: ฿1.89b (up 3.8% from 2Q 2024). Profit margin: 40% (in line with 2Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Consumer Finance industry in Thailand. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Price Target Changed • Jun 26
Price target decreased by 16% to ฿38.23 Down from ฿45.31, the current price target is an average from 13 analysts. New target price is 50% above last closing price of ฿25.50. Stock is down 39% over the past year. The company is forecast to post earnings per share of ฿2.98 for next year compared to ฿2.88 last year. New Risk • Jun 24
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 6.8% 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 Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Minor Risk Share price has been volatile over the past 3 months (6.8% average weekly change). Buy Or Sell Opportunity • Jun 24
Now 26% undervalued after recent price drop Over the last 90 days, the stock has fallen 46% to ฿25.00. The fair value is estimated to be ฿33.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.5% over the last 3 years. Earnings per share has grown by 5.7%. Revenue is forecast to grow by 47% in 2 years. Earnings are forecast to grow by 13% in the next 2 years. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ฿29.50, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 9x in the Consumer Finance industry in Thailand. Total loss to shareholders of 46% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿35.14 per share. Reported Earnings • Apr 19
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: ฿0.72 (up from ฿0.70 in 1Q 2024). Revenue: ฿4.74b (up 3.6% from 1Q 2024). Net income: ฿1.86b (up 3.2% from 1Q 2024). Profit margin: 39% (in line with 1Q 2024). Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 1.8%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Consumer Finance industry in Thailand. 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 8% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 10
Upcoming dividend of ฿1.32 per share Eligible shareholders must have bought the stock before 17 April 2025. Payment date: 02 May 2025. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Thai dividend payers (8.3%). Higher than average of industry peers (2.4%). Announcement • Apr 04
Krungthai Card Public Company Limited Approves to Pay Dividends for the Year 2024, Payable on 2 May 2025 Krungthai Card Public Company Limited approved to pay dividends for the year 2024 to the shareholders at the rate of THB 1.32 per share with the total dividend payment being THB 3,403,400,972. The Record Date on which the shareholders have the right to receive dividends shall be on 18 April 2025. The dividend payment shall be paid on 2 May 2025. Declared Dividend • Feb 12
Dividend increased to ฿1.32 Dividend of ฿1.32 is 3.9% higher than last year. Ex-date: 17th April 2025 Payment date: 2nd May 2025 Dividend yield will be 2.6%, which is lower than the industry average of 3.4%. Sustainability & Growth Dividend is covered by both earnings (45% earnings payout ratio) and cash flows (57% cash payout ratio). The dividend has increased by an average of 20% 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. EPS is expected to grow by 22% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 10
Krungthai Card Public Company Limited Proposes Cash Dividend for the Period from Jan. 1, 2024 to Dec. 31, 2024, Payable on May 02, 2025 Krungthai Card Public Company Limited proposed cash dividend of THB 1.32 per share for common shareholders for the period from Jan. 1, 2024 to Dec. 31, 2024. Record date for the right to receive dividends is Apr. 18, 2025, Ex-dividend date is Apr. 17, 2025 and Payment date is May 02, 2025, subject Shareholder's meeting to be held on Apr. 04, 2025. Reported Earnings • Jan 18
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: ฿2.88 (up from ฿2.83 in FY 2023). Revenue: ฿18.7b (up 5.5% from FY 2023). Net income: ฿7.44b (up 1.9% from FY 2023). Profit margin: 40% (down from 41% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Consumer Finance industry in Thailand. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Jan 09
Krungthai Card Public Company Limited to Report Q1, 2025 Results on Apr 18, 2025 Krungthai Card Public Company Limited announced that they will report Q1, 2025 results at 9:30 AM, SE Asia Standard Time on Apr 18, 2025 Announcement • Jan 07
Krungthai Card Public Company Limited to Report Fiscal Year 2024 Results on Jan 17, 2025 Krungthai Card Public Company Limited announced that they will report fiscal year 2024 results on Jan 17, 2025 Buy Or Sell Opportunity • Nov 05
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to ฿48.00. The fair value is estimated to be ฿39.98, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.3% over the last 3 years. Earnings per share has grown by 7.8%. Revenue is forecast to grow by 51% in 2 years. Earnings are forecast to grow by 18% in the next 2 years. Price Target Changed • Oct 25
Price target increased by 7.5% to ฿50.70 Up from ฿47.18, the current price target is an average from 10 analysts. New target price is approximately in line with last closing price of ฿48.75. Stock is up 11% over the past year. The company is forecast to post earnings per share of ฿2.92 for next year compared to ฿2.83 last year. Reported Earnings • Oct 20
Third quarter 2024 earnings released: EPS: ฿0.74 (vs ฿0.72 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.74 (up from ฿0.72 in 3Q 2023). Revenue: ฿4.77b (up 5.7% from 3Q 2023). Net income: ฿1.92b (up 3.4% from 3Q 2023). Profit margin: 40% (in line with 3Q 2023). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Consumer Finance industry in Thailand. 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 6% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Oct 15
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 25% to ฿49.25. The fair value is estimated to be ฿40.55, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Earnings per share has grown by 8.7%. Revenue is forecast to grow by 52% in 2 years. Earnings are forecast to grow by 17% in the next 2 years. Announcement • Aug 03
Krungthai Card Public Company Limited to Report Q2, 2024 Results on Aug 13, 2024 Krungthai Card Public Company Limited announced that they will report Q2, 2024 results on Aug 13, 2024 Reported Earnings • Jul 21
Second quarter 2024 earnings: Revenues and EPS in line with analyst expectations Second quarter 2024 results: EPS: ฿0.71 (up from ฿0.70 in 2Q 2023). Revenue: ฿4.58b (up 5.1% from 2Q 2023). Net income: ฿1.83b (up 1.1% from 2Q 2023). Profit margin: 40% (down from 41% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Consumer Finance industry in Thailand. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Jul 21
Krungthai Card Public Company Limited to Report Q2, 2024 Results on Jul 19, 2024 Krungthai Card Public Company Limited announced that they will report Q2, 2024 results on Jul 19, 2024 Buy Or Sell Opportunity • Jul 01
Now 17% overvalued Over the last 90 days, the stock has fallen 9.9% to ฿41.00. The fair value is estimated to be ฿34.98, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.3% over the last 3 years. Earnings per share has grown by 10%. Revenue is forecast to grow by 52% in 2 years. Earnings are forecast to grow by 13% in the next 2 years. Buy Or Sell Opportunity • Jun 25
Now 20% overvalued Over the last 90 days, the stock has fallen 8.1% to ฿42.50. The fair value is estimated to be ฿35.34, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.3% over the last 3 years. Earnings per share has grown by 10%. Revenue is forecast to grow by 52% in 2 years. Earnings are forecast to grow by 13% in the next 2 years. Reported Earnings • Apr 20
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: ฿0.70 (down from ฿0.73 in 1Q 2023). Revenue: ฿4.58b (up 7.1% from 1Q 2023). Net income: ฿1.80b (down 3.7% from 1Q 2023). Profit margin: 39% (down from 44% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) also surpassed analyst estimates by 10%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Consumer Finance industry in Thailand. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 10
Upcoming dividend of ฿1.27 per share Eligible shareholders must have bought the stock before 17 April 2024. Payment date: 03 May 2024. Payout ratio is a comfortable 45% but the company is paying out more than the cash it is generating. Trailing yield: 2.7%. Lower than top quartile of Thai dividend payers (5.8%). Higher than average of industry peers (2.1%). Declared Dividend • Feb 11
Dividend increased to ฿1.27 Dividend of ฿1.27 is 10% higher than last year. Ex-date: 17th April 2024 Payment date: 3rd May 2024 Dividend yield will be 2.9%, which is lower than the industry average of 3.4%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but not covered by cash flows (168% cash payout ratio). The dividend has increased by an average of 40% 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. EPS is expected to grow by 12% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 10
Krungthai Card Public Company Limited, Annual General Meeting, Apr 05, 2024 Krungthai Card Public Company Limited, Annual General Meeting, Apr 05, 2024, at 09:00 SE Asia Standard Time. Agenda: To acknowledge the company's performance of the year 2023; to consider and approve the Financial Statement of the Company for the fiscal year ended 31 December 2023 and acknowledge the report of the auditor; to consider and approve the dividend payment for Business operation 2023 and to consider the appropriation of profit as legal reserve; to consider and approve the election of directors in place of the directors whose terms expired by rotation; to consider and approve the payment of the directors' remuneration; to consider and approve the appointment of the Company's auditors and determination of audit fee for the year 2024; and to discuss other matters. Announcement • Feb 09
Krungthai Card Public Company Limited Recommends Dividend Payment for the Year 2023, Payable on 3 May 2024 The Board of Directors' Meeting No.02/2024 of Krungthai Card Public Company Limited held on 9 February 2024, recommended approved the Company dividend payment for Business operation 2023 to the shareholders at the rate of THB 1.27 per one ordinary share, the total dividend payment is THB 3,274,484,269. The Record Date in which the shareholders shall have the right to receive dividends on 18 April 2024, which the dividends will be paid on 3 May 2024. However, the right to receive dividend is not confirmed without the 2024 Annual General Shareholders' Meeting approval. New Risk • Jan 22
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.6% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings are forecast to decline by an average of 1.6% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Jan 20
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: ฿2.83 (up from ฿2.75 in FY 2022). Revenue: ฿17.7b (up 4.6% from FY 2022). Net income: ฿7.30b (up 3.1% from FY 2022). Profit margin: 41% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Consumer Finance industry in Thailand. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Board Change • Dec 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chief Marketing & Communication Officer and Director Pittaya Vorapanyasakul was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 20
Krungthai Card Public Company Limited Announces Board Changes Effective from 20 November 2023 Krungthai Card Public Company Limited held its SBM on November 20, 2023, the board has appointed Ms. Kornkanok Fuengfung as a Director, in replacement of Mr. Rungruang Sukkirdkijpiboon; appointed Mrs. Pittaya Vorapanyasakul as a Director in replacement of Lieutenant General Apichat Chaiyadar, appointed Mr. Somchai Kuvijitsuwan as a Director, Independent Director, and the Audit, Environmental, Corporate Governance and Social Responsibilities Committee in replacement of Mr. Nathporn Chatusripitak, Which shall be effective from 20 November 2023 onwards, whereas the directorship term shall be equal to the remaining term of each resigned Director. Announcement • Nov 01
Krungthai Card Public Company Limited Announces Resignation of Nathporn Chatusripitak as Independent Director and the Audit, Environmental, Social Responsibilities, and Corporate Governance Committee, Effective from November 1, 2023 Krungthai Card Public Company Limited informed that as of October 31, 2023, the Company received a resignation letter of Mr. Nathporn Chatusripitak In which Mr. Nathporn Chatusripitak has resigned from the position of Independent Director and the Audit, Environmental, Social Responsibilities, and Corporate Governance Committee due to personalduties, which will be effective from November 1, 2023 onwards. Announcement • Oct 25
Krungthai Card Public Company Limited Announces Resignation of Lieutenant General Apichat Chaiyadar from Director, Effective from November 1, 2023 Krungthai Card Public Company Limited informed that as of October 24, 2023, the Company received a resignation letter of Lieutenant General Apichat Chaiyadar from the position of Director. In which Lieutenant General Apichat Chaiyadar has resigned from the position of Independent Director which will be effective from November 1, 2023 onwards. Price Target Changed • Oct 20
Price target decreased by 7.0% to ฿55.33 Down from ฿59.50, the current price target is an average from 9 analysts. New target price is 22% above last closing price of ฿45.50. Stock is down 19% over the past year. The company is forecast to post earnings per share of ฿2.86 for next year compared to ฿2.75 last year. Reported Earnings • Oct 20
Third quarter 2023 earnings released: EPS: ฿0.72 (vs ฿0.69 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.72 (up from ฿0.69 in 3Q 2022). Revenue: ฿4.52b (up 6.1% from 3Q 2022). Net income: ฿1.86b (up 4.7% from 3Q 2022). Profit margin: 41% (in line with 3Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Consumer Finance industry in Thailand. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Aug 24
Krungthai Card Public Company Limited Announces Appointment of Mrs. Praralee Ratanaprasartporn as Director of Nomination and Remuneration Committee Krungthai Card Public Company Limited announced to appoint Mrs. Praralee Ratanaprasartporn, Director as Director of Nomination and Remuneration Committee in place of Mr. Rungruang Sukkirdkijpiboon, which shall be effective from August 23rd, 2023 onwards. Announcement • Aug 08
Krungthai Card Public Company Limited Announces Resignation of Rungruang Sukkirdkijpiboon as Director and Nomination and Remuneration Committee Krungthai Card Public Company Limited announced that as of August 7, 2023, Company has received a letter regarding a resignation from the position of Director from Mr. Rungruang Sukkirdkijpiboon. In which Mr. Rungruang Sukkirdkijpiboon has resigned from the position of Director and Nomination and Remuneration Committee which will be effective from August 15, 2023 onwards. Reported Earnings • Jul 22
Second quarter 2023 earnings: EPS misses analyst expectations Second quarter 2023 results: EPS: ฿0.70 (down from ฿0.73 in 2Q 2022). Revenue: ฿4.36b (flat on 2Q 2022). Net income: ฿1.81b (down 4.6% from 2Q 2022). Profit margin: 41% (down from 44% in 2Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.4%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Consumer Finance industry in Thailand. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 12% per year. Price Target Changed • Jul 13
Price target decreased by 10% to ฿57.29 Down from ฿64.00, the current price target is an average from 7 analysts. New target price is 27% above last closing price of ฿45.25. Stock is down 16% over the past year. The company is forecast to post earnings per share of ฿2.90 for next year compared to ฿2.75 last year. Reported Earnings • Apr 21
First quarter 2023 earnings released: EPS: ฿0.73 (vs ฿0.68 in 1Q 2022) First quarter 2023 results: EPS: ฿0.73 (up from ฿0.68 in 1Q 2022). Revenue: ฿4.27b (up 7.7% from 1Q 2022). Net income: ฿1.87b (up 7.1% from 1Q 2022). Profit margin: 44% (in line with 1Q 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Consumer Finance industry in Thailand. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 11
Upcoming dividend of ฿1.15 per share at 2.1% yield Eligible shareholders must have bought the stock before 18 April 2023. Payment date: 03 May 2023. Payout ratio is a comfortable 42% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Thai dividend payers (6.0%). Lower than average of industry peers (2.6%). Reported Earnings • Nov 16
Third quarter 2022 earnings: EPS misses analyst expectations Third quarter 2022 results: EPS: ฿0.69 (up from ฿0.51 in 3Q 2021). Revenue: ฿4.26b (up 22% from 3Q 2021). Net income: ฿1.77b (up 35% from 3Q 2021). Profit margin: 42% (up from 38% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.0%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Consumer Finance industry in Thailand. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. 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. 6 experienced directors. 1 highly experienced director. Chairman Pongsit Chaichatpornsuk 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. Board Change • Nov 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. 6 experienced directors. 1 highly experienced director. Chairman Pongsit Chaichatpornsuk 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 • Oct 22
Third quarter 2022 earnings: EPS misses analyst expectations Third quarter 2022 results: EPS: ฿0.69 (up from ฿0.51 in 3Q 2021). Revenue: ฿4.26b (up 22% from 3Q 2021). Net income: ฿1.77b (up 35% from 3Q 2021). Profit margin: 42% (up from 38% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.0%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Consumer Finance industry in Thailand. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jul 22
Second quarter 2022 earnings released: EPS: ฿0.73 (vs ฿0.65 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.73 (up from ฿0.65 in 2Q 2021). Revenue: ฿4.35b (up 12% from 2Q 2021). Net income: ฿1.89b (up 13% from 2Q 2021). Profit margin: 44% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 48%, compared to a 36% growth forecast for the industry in Thailand. 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 7% per year. Reported Earnings • May 17
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: ฿0.68 (up from ฿0.63 in 1Q 2021). Revenue: ฿3.97b (up 3.4% from 1Q 2021). Net income: ฿1.75b (up 6.9% from 1Q 2021). Profit margin: 44% (up from 43% in 1Q 2021). Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) exceeded analyst estimates by 11%. Over the next year, revenue is forecast to grow 49%, compared to a 36% growth forecast for the industry in Thailand. 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 15% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 11
Upcoming dividend of ฿1.00 per share Eligible shareholders must have bought the stock before 18 April 2022. Payment date: 06 May 2022. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Thai dividend payers (5.2%). Lower than average of industry peers (1.8%). Reported Earnings • Jan 25
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: ฿2.28 (up from ฿2.07 in FY 2020). Revenue: ฿14.5b (up 4.9% from FY 2020). Net income: ฿5.88b (up 10% from FY 2020). Profit margin: 40% (up from 38% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.2%. Over the next year, revenue is expected to shrink by 6.2% compared to a 32% growth forecast for the industry in Thailand. 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 28% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Jan 25
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from ฿21.7b to ฿13.6b. EPS estimate increased from ฿2.69 to ฿2.73 per share. Net income forecast to grow 14% next year vs 20% growth forecast for Consumer Finance industry in Thailand. Consensus price target broadly unchanged at ฿56.28. Share price was steady at ฿60.00 over the past week. Reported Earnings • Nov 17
Third quarter 2021 earnings released: EPS ฿0.51 (vs ฿0.47 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿3.49b (up 2.7% from 3Q 2020). Net income: ฿1.32b (up 7.9% from 3Q 2020). Profit margin: 38% (up from 36% in 3Q 2020). 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 20% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 17
Third quarter 2021 earnings released: EPS ฿0.51 (vs ฿0.47 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: ฿3.49b (up 5.2% from 3Q 2020). Net income: ฿1.32b (up 7.9% from 3Q 2020). Profit margin: 38% (in line with 3Q 2020). 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 18% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS ฿0.65 (vs ฿0.45 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿3.90b (up 29% from 2Q 2020). Net income: ฿1.68b (up 46% from 2Q 2020). Profit margin: 43% (up from 38% in 2Q 2020). 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 but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jul 20
Price target increased to ฿57.17 Up from ฿52.68, the current price target is an average from 13 analysts. New target price is 13% below last closing price of ฿65.50. Stock is up 100% over the past year. Reported Earnings • Jul 18
Second quarter 2021 earnings released: EPS ฿0.65 (vs ฿0.45 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿3.90b (up 33% from 2Q 2020). Net income: ฿1.68b (up 46% from 2Q 2020). Profit margin: 43% (up from 39% in 2Q 2020). 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 but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 03
Krungthai Card Deleted from Other OTC Krungthai Card Pub Co Ltd. Foreign Shares (Thailand) have been deleted from Other OTC effective June 01, 2021 due to Inactive Security. Valuation Update With 7 Day Price Move • May 27
Investor sentiment improved over the past week After last week's 17% share price gain to ฿83.00, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 20x in the Consumer Finance industry in Thailand. Total returns to shareholders of 140% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿35.51 per share. Price Target Changed • May 21
Price target increased to ฿50.56 Up from ฿46.25, the current price target is an average from 10 analysts. New target price is 29% below last closing price of ฿70.75. Stock is up 89% over the past year. Reported Earnings • May 14
First quarter 2021 earnings released: EPS ฿0.63 (vs ฿0.64 in 1Q 2020) The company reported a mediocre first quarter result with weaker revenues, although earnings were flat and profit margins improved. First quarter 2021 results: Revenue: ฿3.75b (down 4.9% from 1Q 2020). Net income: ฿1.63b (flat on 1Q 2020). Profit margin: 44% (up from 42% in 1Q 2020). The increase in margin was driven by lower 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 25% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 20
First quarter 2021 earnings released: EPS ฿0.63 (vs ฿0.64 in 1Q 2020) The company reported a mediocre first quarter result with weaker revenues, although earnings were flat and profit margins improved. First quarter 2021 results: Revenue: ฿3.75b (down 4.9% from 1Q 2020). Net income: ฿1.63b (flat on 1Q 2020). Profit margin: 44% (up from 42% in 1Q 2020). The increase in margin was driven by lower 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 34% per year, which means it is tracking significantly ahead of earnings growth. Executive Departure • Apr 15
Chairman of the Board Parinya Patanaphakdee has left the company On the 8th of April, Parinya Patanaphakdee's tenure as Chairman of the Board ended after 3.8 years in the role. We don't have any record of a personal shareholding under Parinya's name. A total of 2 executives have left over the last 12 months. Upcoming Dividend • Apr 12
Upcoming dividend of ฿0.88 per share Eligible shareholders must have bought the stock before 19 April 2021. Payment date: 07 May 2021. Trailing yield: 1.2%. Lower than top quartile of Thai dividend payers (4.9%). Lower than average of industry peers (1.6%). Executive Departure • Apr 04
Chief Accountant and Senior VP of Finance & Accounting has left the company On the 31st of March, Pranee Rattakam's tenure as Chief Accountant and Senior VP of Finance & Accounting ended after 17.4 years in the role. We don't have any record of a personal shareholding under Pranee's name. Pranee is the only executive to leave the company over the last 12 months. Price Target Changed • Feb 17
Price target raised to ฿46.02 Up from ฿42.75, the current price target is an average from 12 analysts. The new target price is 30% below the current share price of ฿65.50. As of last close, the stock is up 59% over the past year. Reported Earnings • Feb 11
Full year 2020 earnings released: EPS ฿2.07 (vs ฿2.14 in FY 2019) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: ฿13.9b (down 4.2% from FY 2019). Net income: ฿5.33b (down 3.5% from FY 2019). Profit margin: 38% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Jan 26
Analysts update estimates The 2021 consensus earning per share (EPS) estimate increased from ฿2.16 to ฿2.38. Revenue estimate for the same period was approximately flat at ฿21.2b. Net income is expected to grow by 16% next year compared to 16% growth forecast for the Consumer Finance industry in Thailand. The consensus price target increased from ฿38.44 to ฿42.45. Share price is down by 11% to ฿68.25 over the past week. Analyst Estimate Surprise Post Earnings • Jan 21
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 0.09%. Earnings per share (EPS) also surpassed analyst estimates by 2.3%. Over the next year, revenue is forecast to grow 53%, compared to a 32% growth forecast for the Consumer Finance industry in Thailand. Reported Earnings • Jan 20
Full year 2020 earnings released: EPS ฿2.07 The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: ฿13.9b (down 4.2% from FY 2019). Net income: ฿5.33b (down 3.5% from FY 2019). Profit margin: 38% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jan 20
Price target raised to ฿39.32 Up from ฿36.28, the current price target is an average from 10 analysts. The new target price is 45% below the current share price of ฿72.00. As of last close, the stock is up 103% over the past year. Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improved over the past week After last week's 28% share price gain to ฿76.00, the stock is trading at a trailing P/E ratio of 36.8x, up from the previous P/E ratio of 28.8x. This compares to an average P/E of 14x in the Consumer Finance industry in Thailand. Total returns to shareholders over the past three years are 316%. Is New 90 Day High Low • Dec 25
New 90-day high: ฿60.00 The company is up 74% from its price of ฿34.50 on 25 September 2020. The Thai market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Finance industry, which is up 30% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿24.54 per share. Is New 90 Day High Low • Dec 09
New 90-day high: ฿53.50 The company is up 74% from its price of ฿30.75 on 10 September 2020. The Thai market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Finance industry, which is up 28% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿20.87 per share. Price Target Changed • Dec 04
Price target raised to ฿36.28 Up from ฿33.86, the current price target is an average from 11 analysts. The new target price is 32% below the current share price of ฿53.00. As of last close, the stock is up 28% over the past year. Valuation Update With 7 Day Price Move • Dec 01
Market bids up stock over the past week After last week's 18% share price gain to ฿51.25, the stock is trading at a trailing P/E ratio of 24.8x, up from the previous P/E ratio of 21x. This compares to an average P/E of 11x in the Consumer Finance industry in Thailand. Total returns to shareholders over the past three years are 256%. Valuation Update With 7 Day Price Move • Nov 27
Market bids up stock over the past week After last week's 16% share price gain to ฿51.75, the stock is trading at a trailing P/E ratio of 25x, up from the previous P/E ratio of 21.5x. This compares to an average P/E of 11x in the Consumer Finance industry in Thailand. Total returns to shareholders over the past three years are 236%. Is New 90 Day High Low • Nov 18
New 90-day high: ฿44.25 The company is up 49% from its price of ฿29.75 on 20 August 2020. The Thai market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Finance industry, which is up 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿20.88 per share. 
