Board Change • Mar 18
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Director Tassanu Chutikanon is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Declared Dividend • Feb 28
Dividend reduced to ฿0.01 Dividend of ฿0.01 is 79% lower than last year. Ex-date: 12th March 2026 Payment date: 18th May 2026 Dividend yield will be 1.6%, which is lower than the industry average of 5.3%. Sustainability & Growth Dividend is not covered by earnings (172% earnings payout ratio). However, it is covered by cash flows (80% cash payout ratio). The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 91% to bring the payout ratio under control. However, EPS has declined by 45% over the last 5 years so the company would need to reverse this trend. Reported Earnings • Feb 27
Full year 2025 earnings released: EPS: ฿0.018 (vs ฿0.12 in FY 2024) Full year 2025 results: EPS: ฿0.018 (down from ฿0.12 in FY 2024). Revenue: ฿78.1m (down 44% from FY 2024). Net income: ฿7.43m (down 84% from FY 2024). Profit margin: 9.5% (down from 34% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 38% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Feb 17
Now 21% overvalued Over the last 90 days, the stock has fallen 8.8% to ฿0.62. The fair value is estimated to be ฿0.51, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 22% over the last 3 years. Earnings per share has declined by 40%. Buy Or Sell Opportunity • Jan 21
Now 26% overvalued Over the last 90 days, the stock has fallen 23% to ฿0.62. The fair value is estimated to be ฿0.49, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 22% over the last 3 years. Earnings per share has declined by 40%. New Risk • Jan 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 8.1% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.1% average weekly change). Earnings have declined by 26% per year over the past 5 years. Market cap is less than US$10m (฿258.3m market cap, or US$8.26m). Minor Risks Dividend is not well covered by earnings (172% payout ratio). Profit margins are more than 30% lower than last year (13% net profit margin). Revenue is less than US$5m (฿87m revenue, or US$2.8m). Buy Or Sell Opportunity • Jan 06
Now 28% overvalued Over the last 90 days, the stock has fallen 23% to ฿0.63. The fair value is estimated to be ฿0.49, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 22% over the last 3 years. Earnings per share has declined by 40%. Buy Or Sell Opportunity • Dec 15
Now 24% overvalued Over the last 90 days, the stock has fallen 33% to ฿0.61. The fair value is estimated to be ฿0.49, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 22% over the last 3 years. Earnings per share has declined by 40%. Reported Earnings • Nov 15
Third quarter 2025 earnings released: EPS: ฿0.003 (vs ฿0.027 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.003 (down from ฿0.027 in 3Q 2024). Revenue: ฿16.8m (down 50% from 3Q 2024). Net income: ฿1.43m (down 87% from 3Q 2024). Profit margin: 8.5% (down from 34% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 40% per year whereas the company’s share price has fallen by 36% per year. New Risk • Aug 16
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 20% Last year net profit margin: 40% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 22% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (92% payout ratio). Share price has been volatile over the past 3 months (7.8% average weekly change). Profit margins are more than 30% lower than last year (20% net profit margin). Revenue is less than US$5m (฿104m revenue, or US$3.2m). Market cap is less than US$100m (฿348.5m market cap, or US$10.7m). Reported Earnings • Aug 16
Second quarter 2025 earnings released: ฿0.002 loss per share (vs ฿0.039 profit in 2Q 2024) Second quarter 2025 results: ฿0.002 loss per share (down from ฿0.039 profit in 2Q 2024). Revenue: ฿18.9m (down 54% from 2Q 2024). Net loss: ฿814.2k (down 105% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 33% per year whereas the company’s share price has fallen by 35% per year. New Risk • Jul 11
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 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 19% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.9% average weekly change). Revenue is less than US$5m (฿126m revenue, or US$3.9m). Market cap is less than US$100m (฿405.9m market cap, or US$12.5m). New Risk • Jun 23
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿307.5m (US$9.31m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 19% per year over the past 5 years. Market cap is less than US$10m (฿307.5m market cap, or US$9.31m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Revenue is less than US$5m (฿126m revenue, or US$3.8m). Reported Earnings • May 16
First quarter 2025 earnings released: EPS: ฿0.013 (vs ฿0.035 in 1Q 2024) First quarter 2025 results: EPS: ฿0.013 (down from ฿0.035 in 1Q 2024). Revenue: ฿25.6m (down 35% from 1Q 2024). Net income: ฿5.42m (down 62% from 1Q 2024). Profit margin: 21% (down from 37% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has fallen by 38% per year, which means it is performing significantly worse than earnings. Announcement • Apr 25
Premier Tank Corporation Public Company Limited Approves Dividend for the Year 2024, Payable on May 16, 2025 Premier Tank Corporation Public Company Limited at its AGM held on April 25, 2025, approved dividend payment from the operating results for 2024 at the rate of THB 0.047 per share for 410,000,000 ordinary shares of the Company, totaling THB 19,270,000, which is approximately at 40.98% of net profit of the separate financial statements, which will be paid from the operating for 2024 of the Company, subject to 20% corporate income tax. Individual shareholders would be entitled to a Dividend Tax Credit under Section 47 bis of the Revenue Code and the Company will deduct withholding tax on income from dividends in percent at 10 To the shareholders whose names appear as of the date of determining the shareholders who are entitled to receive the dividend payment (Record Date) on March 14, 2025. The dividend will be paid on May 16, 2025. Declared Dividend • Feb 26
Dividend of ฿0.047 announced Shareholders will receive a dividend of ฿0.047. Ex-date: 13th March 2025 Payment date: 16th May 2025 Dividend yield will be 4.4%, which is lower than the industry average of 5.3%. Sustainability & Growth Dividend is well covered by both earnings (41% earnings payout ratio) and cash flows (29% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 54% to shift the payout ratio to a potentially unsustainable range, which is more than the 11% EPS decline seen over the last 5 years. Reported Earnings • Feb 23
Full year 2024 earnings released: EPS: ฿0.12 (vs ฿0.18 in FY 2023) Full year 2024 results: EPS: ฿0.12 (down from ฿0.18 in FY 2023). Revenue: ฿139.8m (down 22% from FY 2023). Net income: ฿47.0m (down 37% from FY 2023). Profit margin: 34% (down from 42% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has fallen by 35% per year, which means it is performing significantly worse than earnings. Buy Or Sell Opportunity • Dec 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to ฿1.44. The fair value is estimated to be ฿1.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Earnings per share has declined by 28%. Reported Earnings • Nov 13
Third quarter 2024 earnings released: EPS: ฿0.027 (vs ฿0.038 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.027 (down from ฿0.038 in 3Q 2023). Revenue: ฿33.5m (down 17% from 3Q 2023). Net income: ฿11.3m (down 27% from 3Q 2023). Profit margin: 34% (down from 38% in 3Q 2023). The decrease in margin was driven by lower revenue. Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: ฿0.039 (vs ฿0.049 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.039 (down from ฿0.049 in 2Q 2023). Revenue: ฿41.0m (down 13% from 2Q 2023). Net income: ฿16.2m (down 20% from 2Q 2023). Profit margin: 40% (down from 43% in 2Q 2023). The decrease in margin was driven by lower revenue. Upcoming Dividend • Mar 06
Upcoming dividend of ฿0.075 per share Eligible shareholders must have bought the stock before 13 March 2024. Payment date: 17 May 2024. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Thai dividend payers (6.3%). Lower than average of industry peers (6.1%). Declared Dividend • Feb 25
Dividend reduced to ฿0.075 Dividend of ฿0.075 is 8.5% lower than last year. Ex-date: 13th March 2024 Payment date: 17th May 2024 Dividend yield will be 3.8%, which is lower than the industry average of 5.3%. Sustainability & Growth Dividend is well covered by both earnings (44% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has decreased over the past 26 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 52% to shift the payout ratio to a potentially unsustainable range, which is more than the 1.8% EPS decline seen over the last 5 years. Reported Earnings • Feb 24
Full year 2023 earnings released: EPS: ฿0.18 (vs ฿0.21 in FY 2022) Full year 2023 results: EPS: ฿0.18 (down from ฿0.21 in FY 2022). Revenue: ฿178.1m (down 9.6% from FY 2022). Net income: ฿75.1m (down 10% from FY 2022). Profit margin: 42% (in line with FY 2022). Announcement • Feb 24
Premier Tank Corporation Public Company Limited, Annual General Meeting, Apr 25, 2024 Premier Tank Corporation Public Company Limited, Annual General Meeting, Apr 25, 2024, at 14:00 SE Asia Standard Time. Agenda: To consider and approve the Minutes of the 2023 Annual General Meeting of Shareholders held on April 21, 2023; to acknowledge the report of the Board of Directors in the past year and Annual Registration Statement / Annual Report (Form 56-1 One Report); to consider and approve the financial statements for the year ended December 31, 2023; and to consider other matters. Announcement • Feb 23
Premier Tank Corporation Public Company Limited Proposes Dividend Payment for 2023, Payable on May 17, 2024 Premier Tank Corporation Public Company Limited at its meeting held on February 23, 2024 proposed dividend payment from the operating results for 2023 at the rate of THB 0.075 per share for 410,000,000 ordinary shares of the company, totaling THB 30,750,000, which is approximately at 40.94% of the net profit of the financial statements, which will be paid from the operating for 2023 of the company, subject to 20% corporate income tax. Individual shareholders would be entitled to a Dividend Tax Credit under Section 47 bis of the Revenue Code. The right to receive dividend is uncertain as it has not yet been approved from the shareholders' meeting. Resolution to approve determine the date to record the names of the shareholders who are entitled to attend the 2024 AGM and to receive the dividend payment (Record Date) are fixed on March 14,2024 and the dividends will be paid to the entitled shareholders on May 17, 2024, subject to the approval from the 2024 AGM. New Risk • Feb 22
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 Earnings have declined by 0.7% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (฿807.7m market cap, or US$22.5m). Buy Or Sell Opportunity • Feb 21
Now 21% undervalued Over the last 90 days, the stock has risen 19% to ฿1.97. The fair value is estimated to be ฿2.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 31%. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ฿2.04, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 11x in the Oil and Gas industry in Thailand. Total loss to shareholders of 19% over the past year. Reported Earnings • Nov 04
Third quarter 2023 earnings released: EPS: ฿0.038 (vs ฿0.04 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.038 (down from ฿0.04 in 3Q 2022). Revenue: ฿40.4m (down 4.0% from 3Q 2022). Net income: ฿15.4m (down 1.4% from 3Q 2022). Profit margin: 38% (up from 37% in 3Q 2022). The increase in margin was driven by lower expenses. Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: ฿0.049 (vs ฿0.054 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.049 (down from ฿0.054 in 2Q 2022). Revenue: ฿46.9m (down 6.8% from 2Q 2022). Net income: ฿20.1m (down 3.6% from 2Q 2022). Profit margin: 43% (up from 42% in 2Q 2022). The increase in margin was driven by lower expenses. Reported Earnings • May 14
First quarter 2023 earnings released: EPS: ฿0.047 (vs ฿0.068 in 1Q 2022) First quarter 2023 results: EPS: ฿0.047 (down from ฿0.068 in 1Q 2022). Revenue: ฿46.1m (down 16% from 1Q 2022). Net income: ฿19.3m (down 22% from 1Q 2022). Profit margin: 42% (down from 45% in 1Q 2022). The decrease in margin was driven by lower revenue. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ฿2.16, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 9x in the Oil and Gas industry in Thailand. Total loss to shareholders of 37% over the past year. Buying Opportunity • Mar 10
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 9.6%. The fair value is estimated to be ฿3.16, 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 year. Earnings per share has grown by 5.8%. Upcoming Dividend • Mar 07
Upcoming dividend of ฿0.082 per share at 3.2% yield Eligible shareholders must have bought the stock before 13 March 2023. Payment date: 18 May 2023. Trailing yield: 3.2%. Lower than top quartile of Thai dividend payers (5.7%). Lower than average of industry peers (6.8%). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Director Chitrapongse Kwangsukstith 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. Announcement • Feb 15
Premier Tank Corporation Public Company Limited has completed an IPO in the amount of THB 385 million. Premier Tank Corporation Public Company Limited has completed an IPO in the amount of THB 385 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 110,000,000
Price\Range: THB 3.5 
