How does AS-R's PE Ratio compare to its peers?

AS-R is good value based on its Price-To-Earnings Ratio (8.7x) compared to the peer average (30.4x).

How does AS-R's PE Ratio compare vs other companies in the Asian Entertainment Industry?

AS-R is good value based on its Price-To-Earnings Ratio (8.7x) compared to the Asian Entertainment industry average (31.1x).

What is AS-R's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

Insufficient data to calculate AS-R's Price-To-Earnings Fair Ratio for valuation analysis.

What is the Fair Price of AS-R when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

AS-R (THB3.96) is trading above our estimate of [[fair value]] (THB3.36)

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Insufficient data to show price forecast.

AS-R Stock Overview

Provides online game services in Thailand, Singapore, Malaysia, Vietnam, and internationally. More details

AS-R fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	0/6
Past Performance	5/6
Financial Health	5/6
Dividends	3/6

Rewards

Price-To-Earnings ratio (8.7x) is below the TH market (14x)

Earnings grew by 37.6% over the past year

Risk Analysis

Does not have a meaningful market cap (THB2B)

Volatile share price over the past 3 months compared to the TH market

Dividend of 11.62% is not well covered by free cash flows

My Notes

Capture your thoughts, links and company narrative

Asphere Innovations Public Company Limited Competitors

Miss Grand International

SET:MGI

฿2.0b

DV8

SET:DV8

฿686.4m

Matching Maximize Solution

SET:MATCH

฿867.6m

MCOT

SET:MCOT

฿4.0b

Price History & Performance

Summary of share price highs, lows and changes for Asphere Innovations
Historical stock prices
Current Share Price	฿3.96
52 Week High	฿8.45
52 Week Low	฿2.10
Beta	1.25
1 Month Change	14.45%
3 Month Change	-18.52%
1 Year Change	-47.89%
3 Year Change	-82.48%
5 Year Change	206.98%
Change since IPO	-67.00%

Recent updates

Shareholder Returns

	AS-R	TH Entertainment	TH Market
7D	-1.0%	1.4%	2.7%
1Y	-47.9%	-17.7%	-1.6%

Return vs Industry: AS-R underperformed the TH Entertainment industry which returned -17.7% over the past year.

Return vs Market: AS-R underperformed the TH Market which returned -1.6% over the past year.

Price Volatility

Is AS-R's price volatile compared to industry and market?
AS-R volatility
AS-R Average Weekly Movement	7.3%
Entertainment Industry Average Movement	6.4%
Market Average Movement	4.3%
10% most volatile stocks in TH Market	8.7%
10% least volatile stocks in TH Market	2.1%

Stable Share Price: AS-R's share price has been volatile over the past 3 months compared to the TH market.

Volatility Over Time: AS-R's weekly volatility (7%) has been stable over the past year, but is still higher than 75% of TH stocks.

About the Company

Founded	Employees	CEO	Website
2001	n/a	Kittipong Prucksa-Aroon	www.asphere.co

Asphere Innovations Public Company Limited, together with its subsidiaries, provides online game services in Thailand, Singapore, Malaysia, Vietnam, and internationally. The company operates through two segments, Online Game and Distribution. The company offers games for PC and mobile platforms, including MMORPG, casual, SRPG, FPS, and MOBA under the PlayPark brand name.

Asphere Innovations Public Company Limited Fundamentals Summary

How do Asphere Innovations's earnings and revenue compare to its market cap?
AS-R fundamental statistics
Market cap	฿1.98b
Earnings (TTM)	฿226.73m
Revenue (TTM)	฿1.28b

8.7x

P/E Ratio

1.5x

P/S Ratio

Is AS-R overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
AS-R income statement (TTM)
Revenue	฿1.28b
Cost of Revenue	฿623.40m
Gross Profit	฿653.72m
Other Expenses	฿426.99m
Earnings	฿226.73m

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	0.45
Gross Margin	51.19%
Net Profit Margin	17.75%
Debt/Equity Ratio	18.0%

How did AS-R perform over the long term?

See historical performance and comparison

Dividends

11.6%

Current Dividend Yield

70%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/28 10:45
End of Day Share Price	2024/12/27 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

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 here.

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 .

Analyst Sources

Asphere Innovations Public Company Limited is covered by 4 analysts. 0 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
Pongrat Ratanatavanananda	Bualuang Securities PCL
Chirasit Vuttigrai	DBS Vickers Research
Nicky Wong	Phillip Securities (HK)

AS-R Stock Overview

Rewards

Risk Analysis

Asphere Innovations Public Company Limited Competitors

SET:MGI

฿2.0b

SET:DV8

฿686.4m

SET:MATCH

฿867.6m

SET:MCOT

฿4.0b

Price History & Performance

Recent News & Updates

Asphere Innovations Public Company Limited Refrains from Paying Dividend for the Accounting Period Ended December 31, 2023

Asphere Innovations Public Company Limited, Annual General Meeting, Apr 26, 2024

Asphere Innovations Public Company Limited Announces Board Changes

Asphere Innovations Public Company Limited (SET:AS) announces an Equity Buyback for 15,000,000 shares, representing 2.96% for THB 120 million.

Free Ocean Games Pte. Ltd. agreed to acquire a 61.68% stake in CIB Development Sdn. Bhd. from Asphere Innovations Public Company Limited (SET:AS) for MYR 12.3 million.

Sabuy Technology Public Company Limited (SET:SABUY) acquired an additional 5.2736% stake in Asiasoft Corporation Public Company Limited (SET:AS) from Pramoth Sudjitporn and Saowaluck Jitsumrit.