New Risk • May 21
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -฿66m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-฿66m free cash flow). Share price has been highly volatile over the past 3 months (27% average weekly change). Market cap is less than US$10m (฿114.2m market cap, or US$3.50m). Announcement • Mar 27
The Thai Setakij Insurance Public Company Limited, Annual General Meeting, Apr 30, 2026 The Thai Setakij Insurance Public Company Limited, Annual General Meeting, Apr 30, 2026, at 14:00 SE Asia Standard Time. Location: grand centre point ploenchit, bangkok, witthayu room, no. 100 witthayu road, lumpini, pathumwan, bangkok, Thailand Reported Earnings • Mar 01
Full year 2025 earnings released Full year 2025 results: Revenue: ฿1.18b (up 38% from FY 2024). Net income: ฿10.8m (up 241% from FY 2024). Profit margin: 0.9% (up from 0.4% in FY 2024). The increase in margin was driven by higher revenue. Reported Earnings • Nov 16
Third quarter 2025 earnings released: ฿0.001 loss per share (vs ฿0.017 profit in 3Q 2024) Third quarter 2025 results: ฿0.001 loss per share (down from ฿0.017 profit in 3Q 2024). Revenue: ฿328.9m (up 61% from 3Q 2024). Net loss: ฿1.68m (down 105% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 49% per year, which means it is significantly lagging earnings. New Risk • Aug 19
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 42% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (26% average weekly change). High level of non-cash earnings (42% accrual ratio). Market cap is less than US$10m (฿114.2m market cap, or US$3.51m). Reported Earnings • Aug 16
Second quarter 2025 earnings released: ฿0.004 loss per share (vs ฿0.007 profit in 2Q 2024) Second quarter 2025 results: ฿0.004 loss per share (down from ฿0.007 profit in 2Q 2024). Revenue: ฿284.4m (up 27% from 2Q 2024). Net loss: ฿7.51m (down 156% from profit in 2Q 2024). 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 45% per year, which means it is significantly lagging earnings. Reported Earnings • May 24
First quarter 2025 earnings released: EPS: ฿0.001 (vs ฿0.028 loss in 1Q 2024) First quarter 2025 results: EPS: ฿0.001 (up from ฿0.028 loss in 1Q 2024). Revenue: ฿251.4m (up 7.5% from 1Q 2024). Net income: ฿1.47m (up ฿55.8m from 1Q 2024). Profit margin: 0.6% (up from net loss in 1Q 2024). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has fallen by 50% per year, which means it is performing significantly worse than earnings. Announcement • Apr 09
Thai Setakij Insurance Public Company Limited Announces Company Secretary Changes, Effective from April 8, 2025 Thai Setakij Insurance Public Company Limited informed that the Board of Directors' Meeting held on April 4, 2025, has passed a resolution approving the appointment of Miss Nattapond Kongkreatpreeda as the Company Secretary, replacing Ms. Thanatchaphan Thienthipisiri. This appointment is effective from April 8, 2025 onwards. Reported Earnings • Mar 01
Full year 2024 earnings released: EPS: ฿0.002 (vs ฿0.084 loss in FY 2023) Full year 2024 results: EPS: ฿0.002 (up from ฿0.084 loss in FY 2023). Revenue: ฿855.0m (up 55% from FY 2023). Net income: ฿3.15m (up ฿162.6m from FY 2023). Profit margin: 0.4% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 39% per year whereas the company’s share price has fallen by 41% per year. Announcement • Feb 27
The Thai Setakij Insurance Public Company Limited, Annual General Meeting, Apr 22, 2025 The Thai Setakij Insurance Public Company Limited, Annual General Meeting, Apr 22, 2025, at 14:00 SE Asia Standard Time. Location: grande centre point ploenchit, 100 witthayu rd, khwaeng lumphini, pathum wan, krung thep maha, nakhon 10330, Thailand New Risk • Nov 24
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -฿86m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-฿86m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 9.1% per year over the past 5 years. Market cap is less than US$10m (฿190.3m market cap, or US$5.52m). Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: ฿0.007 (vs ฿0.013 loss in 2Q 2023) Second quarter 2024 results: EPS: ฿0.007 (up from ฿0.013 loss in 2Q 2023). Revenue: ฿223.5m (up 62% from 2Q 2023). Net income: ฿13.5m (up ฿38.7m from 2Q 2023). Profit margin: 6.0% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 33% per year, which means it has not declined as severely as earnings. New Risk • Jun 13
New major risk - Revenue and earnings growth Earnings have declined by 8.3% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 8.3% per year over the past 5 years. Market cap is less than US$10m (฿209.3m market cap, or US$5.71m). Reported Earnings • May 16
First quarter 2024 earnings released: ฿0.028 loss per share (vs ฿0.008 loss in 1Q 2023) First quarter 2024 results: ฿0.028 loss per share (further deteriorated from ฿0.008 loss in 1Q 2023). Revenue: ฿233.8m (up 65% from 1Q 2023). Net loss: ฿54.4m (loss widened 269% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Board Change • May 11
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Yongwot Saowapruk was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 01
Full year 2023 earnings released: ฿0.084 loss per share (vs ฿0.014 loss in FY 2022) Full year 2023 results: ฿0.084 loss per share (further deteriorated from ฿0.014 loss in FY 2022). Revenue: ฿552.0m (down 6.9% from FY 2022). Net loss: ฿159.5m (loss widened 487% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 14% per year. New Risk • Dec 08
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 6.2% 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 Risks Less than 1 year of cash runway based on free cash flow trend (-฿95m free cash flow). Market cap is less than US$10m (฿342.5m market cap, or US$9.69m). Minor Risk Share price has been volatile over the past 3 months (6.2% average weekly change). Announcement • Dec 01
the Thai Setakij Insurance Public Company Limited Announces Chief Financial Officer Changes The Thai Setakij Insurance Public Company Limited announced Ms.Khanida Nimmanwattana, Chief Financial officer has resigned, expiring on 30 November 2 0 2 3 and the Board of Directors' meeting No. 9 /2 0 2 3 resolved to appoint Mr.Suphalerk Taechachongchintana holds the position of Chief Financial Officer (Acting) Effective 1 December 2023. Reported Earnings • Nov 15
Third quarter 2023 earnings released: ฿0.008 loss per share (vs ฿0.013 loss in 3Q 2022) Third quarter 2023 results: ฿0.008 loss per share (improved from ฿0.013 loss in 3Q 2022). Revenue: ฿139.7m (up 6.4% from 3Q 2022). Net loss: ฿16.0m (loss narrowed 38% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. New Risk • Nov 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿361.6m (US$9.98m) 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 Less than 1 year of cash runway based on free cash flow trend (-฿116m free cash flow). Market cap is less than US$10m (฿361.6m market cap, or US$9.98m). New Risk • Aug 13
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -฿116m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-฿116m free cash flow). Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (฿380.6m market cap, or US$10.8m). Reported Earnings • Aug 12
Second quarter 2023 earnings released: ฿0.013 loss per share (vs ฿0 in 2Q 2022) Second quarter 2023 results: ฿0.013 loss per share (further deteriorated from ฿0 in 2Q 2022). Revenue: ฿137.9m (down 5.2% from 2Q 2022). Net loss: ฿25.2m (down ฿25.9m from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. Independent Director Yongwot Saowapruk was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: ฿0.001 (vs ฿0.01 loss in 2Q 2021) Second quarter 2022 results: EPS: ฿0.001 (up from ฿0.01 loss in 2Q 2021). Revenue: ฿145.5m (up 24% from 2Q 2021). Net income: ฿723.0k (up ฿19.5m from 2Q 2021). Profit margin: 0.5% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: ฿0 (vs ฿0.01 loss in 1Q 2021) First quarter 2022 results: EPS: ฿0 (up from ฿0.01 loss in 1Q 2021). Revenue: ฿134.6m (up 12% from 1Q 2021). Net income: ฿720.7k (up ฿20.1m from 1Q 2021). Profit margin: 0.5% (up from net loss in 1Q 2021). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Board Change • Apr 27
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. Independent Director Yongwot Saowapruk was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 28
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: ฿0.03 loss per share (up from ฿0.054 loss in FY 2020). Revenue: ฿470.6m (down 20% from FY 2020). Net loss: ฿59.8m (loss narrowed 42% from FY 2020). Revenue was in line with analyst estimates. 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 20% per year, which means it is significantly lagging earnings. Reported Earnings • May 17
First quarter 2021 earnings released: ฿0.01 loss per share (vs ฿0.035 loss in 1Q 2020) 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: ฿120.2m (down 13% from 1Q 2020). Net loss: ฿19.4m (loss narrowed 71% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Executive Departure • Apr 28
Deputy MD of Law & Indemnity and Executive Director has left the company On the 21st of April, Pornpat Boontanom's tenure in the role of Deputy MD of Law & Indemnity and Executive Director ended. We don't have any record of a personal shareholding under Pornpat's name. A total of 3 executives have left over the last 12 months. Is New 90 Day High Low • Mar 12
New 90-day high: ฿0.31 The company is up 11% from its price of ฿0.28 on 09 December 2020. The Thai market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is up 4.0% over the same period. Reported Earnings • Feb 28
Full year 2020 earnings released: ฿0.05 loss per share (vs ฿0.043 loss in FY 2019) The company reported a mediocre full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: ฿585.2m (up 89% from FY 2019). Net loss: ฿102.5m (loss widened 91% from FY 2019). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 02
New 90-day low: ฿0.26 The company is down 4.0% from its price of ฿0.27 on 04 November 2020. The Thai market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Insurance industry, which is up 16% over the same period. Is New 90 Day High Low • Jan 13
New 90-day high: ฿0.30 The company is up 7.0% from its price of ฿0.28 on 15 October 2020. The Thai market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Insurance industry, which is up 17% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS ฿0.012 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿171.5m (up 115% from 3Q 2019). Net income: ฿23.4m (up ฿66.5m from 3Q 2019). Profit margin: 14% (up from net loss in 3Q 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings.