Reported Earnings • 11h
First quarter 2026 earnings released: ฿0.17 loss per share (vs ฿0.028 loss in 1Q 2025) First quarter 2026 results: ฿0.17 loss per share (further deteriorated from ฿0.028 loss in 1Q 2025). Revenue: ฿1.83b (down 18% from 1Q 2025). Net loss: ฿99.7m (loss widened ฿83.2m from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings. Reported Earnings • Mar 02
Full year 2025 earnings released: ฿0.93 loss per share (vs ฿1.38 loss in FY 2024) Full year 2025 results: ฿0.93 loss per share (improved from ฿1.38 loss in FY 2024). Revenue: ฿7.90b (flat on FY 2024). Net loss: ฿553.0m (loss narrowed 24% from FY 2024). 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 45% per year, which means it is performing significantly worse than earnings. Announcement • Feb 26
A.J. Plast Public Company Limited, Annual General Meeting, Apr 24, 2026 A.J. Plast Public Company Limited, Annual General Meeting, Apr 24, 2026, at 09:00 SE Asia Standard Time. Location: the meeting room at the wisdom building, of a.j. plas public company limited, Thailand New Risk • Dec 26
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 7.8% 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 Risks Debt is not well covered by operating cash flow (3.6% operating cash flow to total debt). Earnings have declined by 67% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Market cap is less than US$100m (฿1.26b market cap, or US$40.7m). Reported Earnings • Nov 23
Third quarter 2025 earnings released: ฿0.28 loss per share (vs ฿0.28 loss in 3Q 2024) Third quarter 2025 results: ฿0.28 loss per share (further deteriorated from ฿0.28 loss in 3Q 2024). Revenue: ฿1.90b (down 16% from 3Q 2024). Net loss: ฿169.0m (loss widened 3.0% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 49% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 14
Second quarter 2025 earnings released: ฿0.32 loss per share (vs ฿0.20 loss in 2Q 2024) Second quarter 2025 results: ฿0.32 loss per share (further deteriorated from ฿0.20 loss in 2Q 2024). Revenue: ฿1.98b (up 19% from 2Q 2024). Net loss: ฿193.1m (loss widened 104% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 24 percentage points per year, which is a significant difference in performance. Reported Earnings • May 14
First quarter 2025 earnings released: ฿0.028 loss per share (vs ฿0.026 profit in 1Q 2024) First quarter 2025 results: ฿0.028 loss per share (down from ฿0.026 profit in 1Q 2024). Revenue: ฿2.25b (up 17% from 1Q 2024). Net loss: ฿16.6m (down 246% from profit in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 45 percentage points per year, which is a significant difference in performance. Board Change • Mar 02
Less than half of directors are independent Following Director Roy Ingkhaipiroj's arrival on 01 March 2025, 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 Kasemsit Pathomsak 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. New Risk • Feb 24
New major risk - Revenue and earnings growth Earnings have declined by 46% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 46% per year over the past 5 years. Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (฿1.41b market cap, or US$42.1m). New Risk • Jan 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 6.3% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (฿1.67b market cap, or US$49.7m). New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 36% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. 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). Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Minor Risk Market cap is less than US$100m (฿1.57b market cap, or US$45.5m). Reported Earnings • Aug 16
Second quarter 2024 earnings released: ฿0.22 loss per share (vs ฿0.24 loss in 2Q 2023) Second quarter 2024 results: ฿0.22 loss per share (improved from ฿0.24 loss in 2Q 2023). Revenue: ฿1.68b (down 15% from 2Q 2023). Net loss: ฿94.7m (loss narrowed 9.6% from 2Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. New Risk • Jun 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 36% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Shareholders have been diluted in the past year (36% increase in shares outstanding). Market cap is less than US$100m (฿3.46b market cap, or US$94.1m). Reported Earnings • May 16
First quarter 2024 earnings released: EPS: ฿0.026 (vs ฿0.44 loss in 1Q 2023) First quarter 2024 results: EPS: ฿0.026 (up from ฿0.44 loss in 1Q 2023). Revenue: ฿1.94b (up 6.9% from 1Q 2023). Net income: ฿11.3m (up ฿204.9m from 1Q 2023). Profit margin: 0.6% (up from net loss in 1Q 2023). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 02
Full year 2023 earnings released: ฿0.83 loss per share (vs ฿0.067 profit in FY 2022) Full year 2023 results: ฿0.83 loss per share (down from ฿0.067 profit in FY 2022). Revenue: ฿7.70b (down 15% from FY 2022). Net loss: ฿367.0m (down ฿396.6m from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Announcement • Feb 28
A.J. Plast Public Company Limited, Annual General Meeting, Apr 30, 2024 A.J. Plast Public Company Limited, Annual General Meeting, Apr 30, 2024, at 09:00 SE Asia Standard Time. Location: meeting room at the Wisdom Building of A.J. Plast Pulbilc Company Limited, No. 101/5 thakarm Road, Samaedam Sub-District, bangkhuntien District Bangkok Thailand Agenda: To consider the Minutes of the Annual General Shareholders meeting of No.1/2023 dated 26 April 2023; to acknowledge the operating performance and the annual report of the company for the year 2023; and to consider other matters. New Risk • Feb 28
New major risk - Revenue and earnings growth Earnings have declined by 16% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 16% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (฿2.84b market cap, or US$78.8m). Price Target Changed • Nov 15
Price target decreased by 16% to ฿8.45 Down from ฿10.00, the current price target is provided by 1 analyst. New target price is 31% above last closing price of ฿6.45. Stock is down 48% over the past year. The company is forecast to post a net loss per share of ฿1.01 compared to earnings per share of ฿0.067 last year. Reported Earnings • Nov 14
Third quarter 2023 earnings released: ฿0.13 loss per share (vs ฿0.098 loss in 3Q 2022) Third quarter 2023 results: ฿0.13 loss per share (further deteriorated from ฿0.098 loss in 3Q 2022). Revenue: ฿1.98b (down 11% from 3Q 2022). Net loss: ฿56.3m (loss widened 31% from 3Q 2022). Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Oct 05
Consensus EPS estimates fall by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ฿9.40b to ฿9.29b. Losses expected to increase from ฿0.86 per share to ฿1.01. Packaging industry in Thailand expected to see average net income growth of 46% next year. Consensus price target broadly unchanged at ฿10.00. Share price fell 3.2% to ฿7.65 over the past week. Reported Earnings • Aug 16
Second quarter 2023 earnings released: ฿0.24 loss per share (vs ฿0.28 profit in 2Q 2022) Second quarter 2023 results: ฿0.24 loss per share (down from ฿0.28 profit in 2Q 2022). Revenue: ฿1.99b (down 24% from 2Q 2022). Net loss: ฿104.8m (down 184% from profit in 2Q 2022). Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 49 percentage points per year, which is a significant difference in performance. Reported Earnings • May 18
First quarter 2023 earnings released: ฿0.44 loss per share (vs ฿0.32 profit in 1Q 2022) First quarter 2023 results: ฿0.44 loss per share (down from ฿0.32 profit in 1Q 2022). Revenue: ฿1.83b (down 28% from 1Q 2022). Net loss: ฿193.6m (down 236% from profit in 1Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 06
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: ฿0.067 (down from ฿0.97 in FY 2021). Revenue: ฿9.13b (down 2.2% from FY 2021). Net income: ฿29.6m (down 93% from FY 2021). Profit margin: 0.3% (down from 4.6% in FY 2021). Revenue missed analyst estimates by 7.1%. Earnings per share (EPS) also missed analyst estimates by 85%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Packaging industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Price Target Changed • Nov 16
Price target decreased to ฿17.70 Down from ฿21.20, the current price target is provided by 1 analyst. New target price is 43% above last closing price of ฿12.40. Stock is down 32% over the past year. The company is forecast to post earnings per share of ฿0.99 for next year compared to ฿0.97 last year. 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. 3 experienced directors. 4 highly experienced directors. Independent Director Surasak Gosayachinda was the last director to join the board, commencing their role in 2002. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Price Target Changed • Nov 04
Price target decreased to ฿17.70 Down from ฿21.20, the current price target is provided by 1 analyst. New target price is 34% above last closing price of ฿13.20. Stock is down 29% over the past year. The company is forecast to post earnings per share of ฿0.99 for next year compared to ฿0.97 last year. Upcoming Dividend • Aug 18
Upcoming dividend of ฿0.38 per share Eligible shareholders must have bought the stock before 25 August 2022. Payment date: 09 September 2022. Payout ratio is a comfortable 66% but the company is paying out more than the cash it is generating. Trailing yield: 4.1%. Lower than top quartile of Thai dividend payers (5.4%). Higher than average of industry peers (2.0%). Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: ฿0.28 (vs ฿0.39 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.28 (down from ฿0.39 in 2Q 2021). Revenue: ฿2.61b (up 11% from 2Q 2021). Net income: ฿125.0m (down 26% from 2Q 2021). Profit margin: 4.8% (down from 7.2% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 5.6%, compared to a 7.1% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jun 03
Price target decreased to ฿21.00 Down from ฿23.50, the current price target is provided by 1 analyst. New target price is 27% above last closing price of ฿16.60. Stock is down 16% over the past year. The company is forecast to post earnings per share of ฿1.31 for next year compared to ฿0.97 last year. Reported Earnings • May 15
First quarter 2022 earnings released: EPS: ฿0.32 (vs ฿0.24 in 1Q 2021) First quarter 2022 results: EPS: ฿0.32 (up from ฿0.24 in 1Q 2021). Revenue: ฿2.58b (up 28% from 1Q 2021). Net income: ฿142.7m (up 38% from 1Q 2021). Profit margin: 5.5% (up from 5.1% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 6.0%, compared to a 9.4% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
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. 3 experienced directors. 4 highly experienced directors. Independent Director Surasak Gosayachinda was the last director to join the board, commencing their role in 2002. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Price Target Changed • Apr 27
Price target increased to ฿23.50 Up from ฿20.00, the current price target is provided by 1 analyst. New target price is 41% above last closing price of ฿16.70. Stock is down 18% over the past year. The company is forecast to post earnings per share of ฿1.50 for next year compared to ฿0.97 last year. Upcoming Dividend • Mar 04
Upcoming dividend of ฿0.25 per share Eligible shareholders must have bought the stock before 11 March 2022. Payment date: 20 May 2022. Payout ratio is a comfortable 67% and the cash payout ratio is 92%. Trailing yield: 3.7%. Lower than top quartile of Thai dividend payers (5.2%). Higher than average of industry peers (2.3%). Price Target Changed • Mar 02
Price target increased to ฿23.50 Up from ฿20.00, the current price target is provided by 1 analyst. New target price is 28% above last closing price of ฿18.30. Stock is down 7.1% over the past year. The company is forecast to post earnings per share of ฿1.50 for next year compared to ฿0.97 last year. Reported Earnings • Mar 01
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: ฿0.97 (down from ฿1.33 in FY 2020). Revenue: ฿9.44b (up 30% from FY 2020). Net income: ฿428.6m (down 20% from FY 2020). Profit margin: 4.5% (down from 7.3% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.2%. Over the next year, revenue is forecast to grow 5.3%, compared to a 11% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Price Target Changed • Dec 25
Price target decreased to ฿20.00 Down from ฿23.00, the current price target is provided by 1 analyst. New target price is 16% above last closing price of ฿17.20. Stock is down 23% over the past year. The company posted earnings per share of ฿1.33 last year. Reported Earnings • Nov 13
Third quarter 2021 earnings released: ฿0.092 loss per share (vs ฿0.40 profit in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: ฿2.31b (up 32% from 3Q 2020). Net loss: ฿40.7m (down 125% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 18
Upcoming dividend of ฿0.40 per share Eligible shareholders must have bought the stock before 25 August 2021. Payment date: 09 September 2021. Trailing yield: 4.1%. Lower than top quartile of Thai dividend payers (5.1%). Higher than average of industry peers (1.6%). Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS ฿0.39 (vs ฿0.68 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: ฿2.37b (up 26% from 2Q 2020). Net income: ฿170.0m (down 37% from 2Q 2020). Profit margin: 7.2% (down from 14% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 22
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ฿20.60, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Packaging industry in Thailand. Total returns to shareholders of 92% over the past three years. Reported Earnings • May 16
First quarter 2021 earnings released: EPS ฿0.24 (vs ฿0.14 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿2.06b (up 9.3% from 1Q 2020). Net income: ฿103.6m (up ฿160.1m from 1Q 2020). Profit margin: 5.0% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 01
Investor sentiment improved over the past week After last week's 28% share price gain to ฿23.60, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Packaging industry in Thailand. Total returns to shareholders of 92% over the past three years. Reported Earnings • Mar 03
Full year 2020 earnings released: EPS ฿1.33 (vs ฿0.59 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿7.34b (up 6.8% from FY 2019). Net income: ฿532.3m (up 125% from FY 2019). Profit margin: 7.3% (up from 3.4% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Mar 03
Revenue misses expectations Revenue missed analyst estimates by 4.3%. Over the next year, revenue is forecast to grow 4.2%, compared to a 20% growth forecast for the Packaging industry in Thailand. Valuation Update With 7 Day Price Move • Jan 01
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ฿18.80, the stock is trading at a trailing P/E ratio of 12.9x, down from the previous P/E ratio of 15.2x. This compares to an average P/E of 11x in the Packaging industry in Thailand. Total returns to shareholders over the past three years are 62%. Is New 90 Day High Low • Dec 18
New 90-day high: ฿19.40 The company is up 30% from its price of ฿14.90 on 18 September 2020. The Thai market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Packaging industry, which is up 1.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS ฿0.40 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿1.78b (up 5.9% from 3Q 2019). Net income: ฿161.3m (up ฿174.1m from 3Q 2019). Profit margin: 9.0% (up from net loss in 3Q 2019). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.