Declared Dividend • Mar 02
Dividend of ฿0.06 announced Dividend of ฿0.06 is the same as last year. Ex-date: 12th March 2026 Payment date: 22nd May 2026 Dividend yield will be 3.3%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 7x earnings) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. 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 683% to bring the payout ratio under control. However, EPS has declined by 37% over the last 5 years so the company would need to reverse this trend. New Risk • Feb 13
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Dividend per share is over 7x earnings per share. The company is paying a dividend despite having no free cash flows. Dividend yield: 3.3% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.3x net interest cover). Dividend is not well covered by earnings and cash flows. Dividend per share is over 7x earnings per share. Paying a dividend despite having no free cash flows. Earnings have declined by 26% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.5% net profit margin). Market cap is less than US$100m (฿917.3m market cap, or US$29.4m). Reported Earnings • Nov 15
Third quarter 2025 earnings released: ฿0.03 loss per share (vs ฿0.022 profit in 3Q 2024) Third quarter 2025 results: ฿0.03 loss per share (down from ฿0.022 profit in 3Q 2024). Revenue: ฿172.8m (down 17% from 3Q 2024). Net loss: ฿14.5m (down 232% from profit in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ฿2.10, the stock trades at a trailing P/E ratio of 35.5x. Average trailing P/E is 10x in the Real Estate industry in Thailand. Total loss to shareholders of 43% over the past three years. Reported Earnings • Aug 15
Second quarter 2025 earnings released: ฿0.003 loss per share (vs ฿0.043 profit in 2Q 2024) Second quarter 2025 results: ฿0.003 loss per share (down from ฿0.043 profit in 2Q 2024). Revenue: ฿173.9m (down 17% from 2Q 2024). Net loss: ฿1.30m (down 106% from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 47 percentage points per year, which is a significant difference in performance. New Risk • Aug 14
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 3.3% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. 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 18% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.5% average weekly change). Profit margins are more than 30% lower than last year (6.1% net profit margin). Market cap is less than US$100m (฿1.06b market cap, or US$32.8m). New Risk • Jun 19
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 11% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 18% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (6.1% net profit margin). Market cap is less than US$100m (฿1.05b market cap, or US$31.9m). Reported Earnings • May 17
First quarter 2025 earnings released: EPS: ฿0.01 (vs ฿0.035 in 1Q 2024) First quarter 2025 results: EPS: ฿0.01 (down from ฿0.035 in 1Q 2024). Revenue: ฿180.5m (down 9.3% from 1Q 2024). Net income: ฿2.75m (down 85% from 1Q 2024). Profit margin: 1.5% (down from 8.9% 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 59% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Announcement • Apr 25
Peace & Living Public Company Limited Approves Dividend Payment for the Fiscal Year Ended December 31, 2024, Payable May 23, 2025 Peace & Living Public Company Limited at its annual general meeting held on April 24, 2025, approved dividend payment from the operating result of the fiscal year ended December 31, 2024, by the a dividend in cash at THB 0.06 per share to the shareholders who entitled to receive the dividend, as of March 15, 2025 (a record date) and May 23, 2025 as the dividend payment date. New Risk • Apr 21
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 8.4% 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). Earnings have declined by 2.8% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Profit margins are more than 30% lower than last year (7.7% net profit margin). Market cap is less than US$100m (฿1.20b market cap, or US$36.2m). Announcement • Apr 01
Peace & Living Public Company Limited Announces Chief Financial Officer Changes Peace & Living Public Company Limited announced the termination of Mr. Dome Sirisopana as Acting Chief Financial Officer, Effective Date of Termination is on 31 March 2025 and appointment of Miss Khemjira Chuencharoensook as Chief Financial Officer, Effective Date of Appointment is on 01 April 2025. Reported Earnings • Mar 01
Full year 2024 earnings released: EPS: ฿0.13 (vs ฿0.33 in FY 2023) Full year 2024 results: EPS: ฿0.13 (down from ฿0.33 in FY 2023). Revenue: ฿881.4m (down 17% from FY 2023). Net income: ฿67.6m (down 59% from FY 2023). Profit margin: 7.7% (down from 16% 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 47% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Declared Dividend • Mar 01
Dividend reduced to ฿0.06 Dividend of ฿0.06 is 60% lower than last year. Ex-date: 13th March 2025 Payment date: 23rd May 2025 Dividend yield will be 2.5%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is not adequately covered by earnings (92% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. 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 grow by 2.2% to bring the payout ratio under control, which is less than the 4.1% EPS growth achieved over the last 5 years. Announcement • Feb 03
Peace & Living Public Company Limited Announces Chief Financial Officer Changes Peace & Living Public Company Limited announced Chief Financial Officer changes. Mr. Chantawit Oranrattanachai resigned as Chief Financial Officer, effective date; January 31, 2025 and Mr. Dome Sirisopana appointed as Acting Chief Financial Officer, effective date; February 01, 2025. Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: ฿0.04 (vs ฿0.11 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.04 (down from ฿0.11 in 2Q 2023). Revenue: ฿210.5m (down 30% from 2Q 2023). Net income: ฿21.5m (down 62% from 2Q 2023). Profit margin: 10% (down from 19% in 2Q 2023). The decrease in margin was driven by lower revenue. New Risk • Aug 10
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. 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). Dividend is not well covered by earnings and cash flows. Payout ratio: 98% Paying a dividend despite having no free cash flows. High level of non-cash earnings (40% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (9.3% net profit margin). Market cap is less than US$100m (฿1.37b market cap, or US$38.9m). Reported Earnings • May 11
First quarter 2024 earnings released: EPS: ฿0.04 (vs ฿0.14 in 1Q 2023) First quarter 2024 results: EPS: ฿0.04 (down from ฿0.14 in 1Q 2023). Revenue: ฿199.0m (down 42% from 1Q 2023). Net income: ฿17.7m (down 75% from 1Q 2023). Profit margin: 8.9% (down from 21% in 1Q 2023). The decrease in margin was driven by lower revenue. Announcement • Apr 26
Peace & Living Public Company Limited Approves Dividend for the Fiscal Year Ended December 31, 2023, Payable on May 17, 2024 Peace & Living Public Company Limited at its annual general meeting held on April 24, 2024, approved dividend payment from the operating result of the fiscal year ended December 31, 2023, by the a dividend in cash at THB 0.15 per share to the shareholders who entitled to receive the dividend, as of March 15, 2024 (a record date) and May 17, 2024 as the dividend payment date. Upcoming Dividend • Mar 07
Upcoming dividend of ฿0.15 per share Eligible shareholders must have bought the stock before 14 March 2024. Payment date: 17 May 2024. Payout ratio is a comfortable 46% but the company is not cash flow positive. Trailing yield: 4.7%. Lower than top quartile of Thai dividend payers (6.2%). In line with average of industry peers (4.5%). Reported Earnings • Feb 21
Full year 2023 earnings released: EPS: ฿0.33 (vs ฿0.78 in FY 2022) Full year 2023 results: EPS: ฿0.33 (down from ฿0.78 in FY 2022). Revenue: ฿1.06b (down 41% from FY 2022). Net income: ฿166.1m (down 57% from FY 2022). Profit margin: 16% (down from 22% in FY 2022). The decrease in margin was driven by lower revenue. Buy Or Sell Opportunity • Feb 19
Now 21% overvalued Over the last 90 days, the stock has fallen 4.8% to ฿3.20. The fair value is estimated to be ฿2.66, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 16%. Reported Earnings • Nov 11
Third quarter 2023 earnings released: EPS: ฿0.01 (vs ฿0.22 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.01 (down from ฿0.22 in 3Q 2022). Revenue: ฿167.1m (down 65% from 3Q 2022). Net income: ฿5.51m (down 95% from 3Q 2022). Profit margin: 3.3% (down from 23% in 3Q 2022). The decrease in margin was driven by lower revenue. New Risk • Aug 13
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 28% 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 Risk High level of non-cash earnings (28% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (฿2.02b market cap, or US$57.4m). Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: ฿0.11 (vs ฿0.24 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.11 (down from ฿0.24 in 2Q 2022). Revenue: ฿301.6m (down 40% from 2Q 2022). Net income: ฿57.2m (down 51% from 2Q 2022). Profit margin: 19% (down from 23% in 2Q 2022). The decrease in margin was driven by lower revenue. Announcement • May 17
Peace & Living Public Company Limited Announces Management Changes Peace & Living Public Company Limited announced resignation of Miss Vannakorn Vaidyakula as Senior accounting manager, effective on May 15, 2023. The company also announced appointment of Mr. Thanattorn Theeratanapartkul as Accounting Manager, effective on May 16, 2023. Upcoming Dividend • Mar 08
Upcoming dividend of ฿0.25 per share at 5.5% yield Eligible shareholders must have bought the stock before 15 March 2023. Payment date: 17 May 2023. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 5.5%. Lower than top quartile of Thai dividend payers (5.7%). Higher than average of industry peers (4.0%). Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 6 highly experienced directors. 4 independent directors (7 non-independent directors). Independent Director Pisit Panjakunaporn was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improved over the past week After last week's 16% share price gain to ฿4.86, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 10x in the Real Estate industry in Thailand. Reported Earnings • Aug 17
Second quarter 2022 earnings released: EPS: ฿0.24 (vs ฿0.095 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.24 (up from ฿0.095 in 2Q 2021). Revenue: ฿501.2m (up 132% from 2Q 2021). Net income: ฿116.3m (up 203% from 2Q 2021). Profit margin: 23% (up from 18% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 31%, compared to a 20% growth forecast for the Real Estate industry in Thailand. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 6 highly experienced directors. 4 independent directors (7 non-independent directors). Independent Director Pisit Panjakunaporn was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improved over the past week After last week's 26% share price gain to ฿5.90, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 10x in the Real Estate industry in Thailand. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improved over the past week After last week's 17% share price gain to ฿6.00, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Real Estate industry in Thailand. Reported Earnings • Feb 13
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: EPS: ฿0.15. Revenue: ฿264.1m (flat on 3Q 2020). Net income: ฿49.2m (up ฿49.2m from 3Q 2020). Profit margin: 19% (up from null in 3Q 2020). Revenue was in line with analyst estimates. Announcement • Feb 12
Peace & Living Public Company Limited has completed an IPO in the amount of THB 334.32 million. Peace & Living Public Company Limited has completed an IPO in the amount of THB 334.32 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 84,000,000
Price\Range: THB 3.98 Board Change • Feb 10
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. 5 experienced directors. 5 highly experienced directors. Independent Director Pisit Panjakunaporn 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. 
