TVO Stock Overview

Manufactures and distributes soy meal and soybean oil in Thailand and internationally. More details

TVO fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	0/6
Past Performance	4/6
Financial Health	6/6
Dividends	5/6

Rewards

Trading at 32.4% below our estimate of its fair value

Earnings grew by 188.3% over the past year

Risk Analysis

Earnings are forecast to decline by an average of 2.4% per year for the next 3 years

Unstable dividend track record

Community vs My Fair Value

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Thai Vegetable Oil Public Company Limited Competitors

President Bakery

SET:PB

฿24.8b

Thaitheparos

SET:SAUCE

฿13.8b

Asian Alliance International

SET:AAI

฿11.7b

Ichitan Group

SET:ICHI

฿16.4b

Price History & Performance

Summary of share price highs, lows and changes for Thai Vegetable Oil
Historical stock prices
Current Share Price	฿22.60
52 Week High	฿25.25
52 Week Low	฿18.60
Beta	0.40
1 Month Change	1.35%
3 Month Change	-0.44%
1 Year Change	15.90%
3 Year Change	-19.81%
5 Year Change	14.56%
Change since IPO	352.00%

Recent updates

Shareholder Returns

	TVO	TH Food	TH Market
7D	3.7%	0.9%	1.1%
1Y	15.9%	-8.8%	-15.5%

Return vs Industry: TVO exceeded the TH Food industry which returned -8.8% over the past year.

Return vs Market: TVO exceeded the TH Market which returned -15.5% over the past year.

Price Volatility

Is TVO's price volatile compared to industry and market?
TVO volatility
TVO Average Weekly Movement	2.9%
Food Industry Average Movement	5.0%
Market Average Movement	5.1%
10% most volatile stocks in TH Market	10.5%
10% least volatile stocks in TH Market	2.3%

Stable Share Price: TVO has not had significant price volatility in the past 3 months compared to the TH market.

Volatility Over Time: TVO's weekly volatility (3%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1985	n/a	Pachai Chanpitaksa	www.tvothai.com

Thai Vegetable Oil Public Company Limited manufactures and distributes soy meal and soybean oil in Thailand and internationally. The company provides soybean, corn, sunflower, and canola oils under the ANGOON, Healthy Chef, and Queen brands; olive oil under the MONINI brand; Camellia Oleifera oil; and canned fish products under the Siam Yim and Dolly brands. It also offers industrial, dehulled soymeal, hipromeal, dehulled full fat soy, full fat soy, lecithin, soy hull, and crude degummed soybean oil products under the TVO brand.

Thai Vegetable Oil Public Company Limited Fundamentals Summary

How do Thai Vegetable Oil's earnings and revenue compare to its market cap?
TVO fundamental statistics
Market cap	฿20.10b
Earnings (TTM)	฿2.10b
Revenue (TTM)	฿30.60b

9.6x

P/E Ratio

0.7x

P/S Ratio

Is TVO overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
TVO income statement (TTM)
Revenue	฿30.60b
Cost of Revenue	฿27.32b
Gross Profit	฿3.27b
Other Expenses	฿1.17b
Earnings	฿2.10b

Last Reported Earnings

Dec 31, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	2.36
Gross Margin	10.70%
Net Profit Margin	6.87%
Debt/Equity Ratio	0%

How did TVO perform over the long term?

See historical performance and comparison

Dividends

7.7%

Current Dividend Yield

73%

Payout Ratio

Does TVO pay a reliable dividends?

See TVO dividend history and benchmarks

When do you need to buy TVO by to receive an upcoming dividend?
Thai Vegetable Oil dividend dates
Ex Dividend Date	Mar 14 2025
Dividend Pay Date	May 16 2025
Days until Ex dividend	10 days
Days until Dividend pay date	53 days

Does TVO pay a reliable dividends?

See TVO dividend history and benchmarks

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/03/23 06:49
End of Day Share Price	2025/03/21 00:00
Earnings	2024/12/31
Annual Earnings	2024/12/31

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.

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 Github.

Analyst Sources

Thai Vegetable Oil Public Company Limited is covered by 21 analysts. 2 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
Nuanpun Noiruchchukorn	Asia Plus Securities Company Limited
Prasit Sujiravorakul	Bualuang Securities PCL
Kalvalee Thongsomaung	Bualuang Securities PCL

TVO Stock Overview

Rewards

Risk Analysis

Thai Vegetable Oil Public Company Limited Competitors

SET:PB

฿24.8b

SET:SAUCE

฿13.8b

SET:AAI

฿11.7b

SET:ICHI

฿16.4b

Price History & Performance

Recent News & Updates

Final dividend of ฿0.93 announced

Thai Vegetable Oil Public Company Limited Proposes Dividend Payment for the Second Half of 2024, Payable on May 16, 2025

Thai Vegetable Oil Public Company Limited, Annual General Meeting, Apr 25, 2025

Price target increased by 10% to ฿27.80

Third quarter 2024 earnings: Revenues and EPS in line with analyst expectations

Consensus EPS estimates increase by 13%, revenue downgraded

Recent updates

Final dividend of ฿0.93 announced

Thai Vegetable Oil Public Company Limited Proposes Dividend Payment for the Second Half of 2024, Payable on May 16, 2025

Thai Vegetable Oil Public Company Limited, Annual General Meeting, Apr 25, 2025

Price target increased by 10% to ฿27.80

Third quarter 2024 earnings: Revenues and EPS in line with analyst expectations

Consensus EPS estimates increase by 13%, revenue downgraded

Price target increased by 15% to ฿25.20

First half dividend increased to ฿0.80

Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind

Thai Vegetable Oil Public Company Limited Approves the Appointment of Sanipa Suradhat to Be Additional Member of the Environmental, Social, and Governance (ESG) Committee

Price target increased by 11% to ฿23.40

First quarter 2024 earnings released: EPS: ฿0.35 (vs ฿0.14 in 1Q 2023)

Thai Vegetable Oil Public Company Limited Approves Dividend for the Last Six Months of 2023, Payable on May 17, 2024

Upcoming dividend of ฿0.65 per share

Full year 2023 earnings: EPS and revenues miss analyst expectations

Dividend reduced to ฿0.65

Thai Vegetable Oil Public Company Limited, Annual General Meeting, Apr 26, 2024

Third quarter 2023 earnings: EPS and revenues miss analyst expectations

Price target decreased by 7.7% to ฿20.73

Consensus EPS estimates fall by 37%

New minor risk - Earnings quality

Thai Vegetable Oil Public Company Limited Announces Interim Cash Dividend for the Operating Period from January 1, 2023 to June 30, 2023, payable on 8 September 2023

Second quarter 2023 earnings released: EPS: ฿0.04 (vs ฿1.07 in 2Q 2022)

Thai Vegetable Oil Public Company Limited Announces Interim Cash Dividend for the Operating Period from January 1, 2023 to June 30, 2023, payable on 8 September 2023

Thai Vegetable Oil Public Company Limited Announces Board Changes

Price target decreased by 12% to ฿24.85

Consensus EPS estimates fall by 26%, revenue upgraded

First quarter 2023 earnings released: EPS: ฿0.14 (vs ฿0.74 in 1Q 2022)

Thai Vegetable Oil Public Company Limited Announces Resignation of Kitcha Urairong as Independent Director and Member of the Nomination and Remuneration Committee

Upcoming dividend of ฿0.85 per share at 0.9% yield

Price target decreased to ฿28.48

Consensus forecasts updated

Less than half of directors are independent

Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Thai Vegetable Oil Public Company Limited Approves Dividend, Payment Will Be Made on October 7, 2022

Upcoming dividend of ฿0.20 per share

Consensus revenue estimates increase by 13%

Thai Vegetable Oil Public Company Limited Proposes Cash Dividend, Payable on October 7, 2022

Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind

Thai Vegetable Oil Public Company Limited Approves Chief Executive Officer Change

First quarter 2022 earnings: EPS and revenues exceed analyst expectations

Now 20% undervalued after recent price drop

Less than half of directors are independent

Upcoming dividend of ฿0.90 per share

Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind

Thai Vegetable Oil Public Company Limited Announces Dividend for the Six Months of 2021, Payable May 13, 2022

Third quarter 2021 earnings released: EPS ฿0.44 (vs ฿0.44 in 3Q 2020)

Price target decreased to ฿35.18

Upcoming dividend of ฿1.30 per share

Second quarter 2021 earnings released: EPS ฿0.90 (vs ฿0.42 in 2Q 2020)

Price target decreased to ฿39.35

Consensus EPS estimates increase to ฿3.07

Consensus EPS estimates increase to ฿3.07

First quarter 2021 earnings released

Independent Chairman Sompol Kiatphaibool has left the company

Executive Director has left the company

Upcoming Dividend of ฿0.80 Per Share

Thai Vegetable Oil Public Company Limited, Annual General Meeting, Apr 23, 2021

Full year 2020 earnings released: EPS ฿2.05 (vs ฿1.74 in FY 2019)