Reported Earnings • May 14
First quarter 2026 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2026 results: EPS: ฿0.04 (up from ฿0.038 in 1Q 2025). Revenue: ฿1.73b (up 22% from 1Q 2025). Net income: ฿463.3m (up 15% from 1Q 2025). Profit margin: 27% (down from 28% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 5.5% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 15% per year and the company’s share price has also fallen by 15% per year. Announcement • Apr 22
Quality Houses Public Company Limited Approves Cash Dividend for the Second-Half of the Year 2025, Payable on May 19, 2026 Quality Houses Public Company Limited at its AGM held on April 21, 2026, approved dividend payment by cash at the rate of THB 0.09 per share or the amount of approximately THB 964 million. The dividend shall be paid out of the net profit for the year 2025 at the rate of 56% of the net profit based on consolidated financial statements which is according to the Company's dividend policy. All dividend shall be deducted withholding tax at the rate as prescribed by law. Since the Company has paid interim dividend from the Company's operation of first six months of the year 2025 by the resolution of the Board of Directors' Meeting No. 5/2025 dated August 15, 2025 at the rate of THB 0.02 per share or the amount of approximately THB 214 million which paid to shareholders on September 15,2025 The Company still has to pay dividend from the net profit of the second-half of the year 2025 at the rate of THB 0.07 per share or the amount of approximately THB 750 million. This dividend payment is based on net profit after 20% corporate income tax rate. The shareholders who are individuals can obtain tax credits due to the dividend payment in accordance with Section 47 Bis of the Revenue Code. By specifying the name list of shareholders who are eligible to receive the dividend (Record Date) will be issued on April 28, 2026 and the dividend will be paid on May 19, 2026. Upcoming Dividend • Apr 20
Upcoming dividend of ฿0.07 per share Eligible shareholders must have bought the stock before 27 April 2026. Payment date: 19 May 2026. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 6.4%. Lower than top quartile of Thai dividend payers (7.4%). Higher than average of industry peers (4.7%). Declared Dividend • Mar 01
Final dividend of ฿0.07 announced Shareholders will receive a dividend of ฿0.07. Ex-date: 27th April 2026 Payment date: 19th May 2026 Dividend yield will be 5.9%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is covered by both earnings (64% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 23% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 27
Quality Houses Public Company Limited Proposes Cash Dividend for the Operating Period from July 1, 2025 to December 31, 2025, Payable on May 19, 2026 Quality Houses Public Company Limited proposed cash dividend of THB 0.07 per share for the Operating period from July 1, 2025 to December 31, 2025. Ex-dividend date April 27, 2026, Record date for the right to receive dividends April 28, 2026. Payment date May 19, 2026. Reported Earnings • Feb 26
Full year 2025 earnings released: EPS: ฿0.16 (vs ฿0.20 in FY 2024) Full year 2025 results: EPS: ฿0.16 (down from ฿0.20 in FY 2024). Revenue: ฿7.88b (down 9.3% from FY 2024). Net income: ฿1.73b (down 20% from FY 2024). Profit margin: 22% (down from 25% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 15% per year. Buy Or Sell Opportunity • Feb 25
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 18% to ฿1.49. The fair value is estimated to be ฿1.23, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.6% over the last 3 years. Earnings per share has declined by 9.4%. Revenue is forecast to grow by 5.0% in 2 years. Earnings are forecast to grow by 24% in the next 2 years. Announcement • Feb 25
Quality Houses Public Company Limited, Annual General Meeting, Apr 21, 2026 Quality Houses Public Company Limited, Annual General Meeting, Apr 21, 2026, at 10:30 SE Asia Standard Time. Price Target Changed • Jan 10
Price target decreased by 8.1% to ฿1.41 Down from ฿1.53, the current price target is an average from 8 analysts. New target price is 5.1% above last closing price of ฿1.34. Stock is down 20% over the past year. The company is forecast to post earnings per share of ฿0.18 for next year compared to ฿0.20 last year. Buy Or Sell Opportunity • Dec 23
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at ฿1.36. The fair value is estimated to be ฿1.12, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.6% over the last 3 years. Earnings per share has declined by 9.4%. Revenue is forecast to grow by 8.3% in 2 years. Earnings are forecast to grow by 26% in the next 2 years. Reported Earnings • Nov 11
Third quarter 2025 earnings released: EPS: ฿0.04 (vs ฿0.053 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.04 (down from ฿0.053 in 3Q 2024). Revenue: ฿2.36b (down 1.8% from 3Q 2024). Net income: ฿480.2m (down 16% from 3Q 2024). Profit margin: 20% (down from 24% in 3Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Declared Dividend • Aug 18
First half dividend reduced to ฿0.02 Dividend of ฿0.02 is 33% lower than last year. Ex-date: 29th August 2025 Payment date: 15th September 2025 Dividend yield will be 7.1%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is covered by both earnings (48% earnings payout ratio) and cash flows (84% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 37% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 09
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: ฿0.03 (down from ฿0.058 in 2Q 2024). Revenue: ฿1.76b (down 28% from 2Q 2024). Net income: ฿334.3m (down 46% from 2Q 2024). Profit margin: 19% (down from 25% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Price Target Changed • Aug 06
Price target decreased by 7.2% to ฿1.57 Down from ฿1.70, the current price target is an average from 9 analysts. New target price is 7.8% above last closing price of ฿1.46. Stock is down 12% over the past year. The company is forecast to post earnings per share of ฿0.19 for next year compared to ฿0.20 last year. Announcement • May 12
Quality Houses Public Company Limited (SET:QH) announces an Equity Buyback for 750,000,000 shares, representing 7% for THB 1,200 million. Quality Houses Public Company Limited (SET:QH) announces a share repurchase program. Under the program, the company will repurchase up to 750,000,000 shares, representing 7% of its issued share capital, for THB 1,200 million. The repurchase price must not exceed 115% of the average closing share price of five business days prior to each repurchase date. The purpose of the program is to manage the efficiency of the company's liquidity and enhance the return on equity (ROE) and earning per share and company's prosperous financial and future prospective confidence. The program will run through November 28, 2025. As of March 12, 2025, the company had 10,714,381,645 shares in outstanding. Reported Earnings • May 09
First quarter 2025 earnings released: EPS: ฿0.04 (vs ฿0.046 in 1Q 2024) First quarter 2025 results: EPS: ฿0.04 (down from ฿0.046 in 1Q 2024). Revenue: ฿1.42b (down 21% from 1Q 2024). Net income: ฿402.0m (down 18% from 1Q 2024). Profit margin: 28% (in line with 1Q 2024). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 21
Upcoming dividend of ฿0.08 per share Eligible shareholders must have bought the stock before 28 April 2025. Payment date: 20 May 2025. Payout ratio is a comfortable 55% but the company is paying out more than the cash it is generating. Trailing yield: 7.0%. Lower than top quartile of Thai dividend payers (7.9%). Higher than average of industry peers (5.8%). Declared Dividend • Mar 02
Final dividend reduced to ฿0.08 Dividend of ฿0.08 is 20% lower than last year. Ex-date: 28th April 2025 Payment date: 20th May 2025 Dividend yield will be 6.9%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (55% earnings payout ratio) but not covered by cash flows (228% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 17% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 27
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ฿0.20 (down from ฿0.23 in FY 2023). Revenue: ฿8.70b (down 5.9% from FY 2023). Net income: ฿2.15b (down 14% from FY 2023). Profit margin: 25% (down from 27% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 5.5%. Earnings per share (EPS) also missed analyst estimates by 6.4%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 10
Third quarter 2024 earnings released: EPS: ฿0.05 (vs ฿0.059 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.05 (down from ฿0.059 in 3Q 2023). Revenue: ฿2.40b (flat on 3Q 2023). Net income: ฿572.9m (down 9.6% from 3Q 2023). Profit margin: 24% (down from 26% in 3Q 2023). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Thailand are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Price Target Changed • Aug 10
Price target decreased by 7.8% to ฿2.05 Down from ฿2.23, the current price target is an average from 11 analysts. New target price is 23% above last closing price of ฿1.67. Stock is down 28% over the past year. The company is forecast to post earnings per share of ฿0.22 for next year compared to ฿0.23 last year. Declared Dividend • Aug 09
First half dividend of ฿0.03 announced Shareholders will receive a dividend of ฿0.03. Ex-date: 21st August 2024 Payment date: 5th September 2024 Dividend yield will be 7.7%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (46% earnings payout ratio) but not covered by cash flows (dividend approximately 5x free cash flows). The dividend has increased by an average of 2.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 07
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: EPS: ฿0.058 (down from ฿0.062 in 2Q 2023). Revenue: ฿2.44b (down 2.3% from 2Q 2023). Net income: ฿620.0m (down 7.4% from 2Q 2023). Profit margin: 25% (down from 27% in 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • May 09
First quarter 2024 earnings released: EPS: ฿0.05 (vs ฿0.055 in 1Q 2023) First quarter 2024 results: EPS: ฿0.05 (down from ฿0.055 in 1Q 2023). Revenue: ฿1.80b (down 8.6% from 1Q 2023). Net income: ฿490.1m (down 17% from 1Q 2023). Profit margin: 27% (down from 30% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 18
Upcoming dividend of ฿0.10 per share Eligible shareholders must have bought the stock before 25 April 2024. Payment date: 16 May 2024. Payout ratio is a comfortable 64% but the company is paying out more than the cash it is generating. Trailing yield: 6.7%. Within top quartile of Thai dividend payers (5.8%). Higher than average of industry peers (4.6%). Declared Dividend • Feb 29
Final dividend of ฿0.10 announced Dividend of ฿0.10 is the same as last year. Ex-date: 25th April 2024 Payment date: 16th May 2024 Dividend yield will be 6.8%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (63% earnings payout ratio) but not covered by cash flows (144% cash payout ratio). The dividend has increased by an average of 2.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 5.6% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: ฿0.23 (vs ฿0.22 in FY 2022) Full year 2023 results: EPS: ฿0.23 (up from ฿0.22 in FY 2022). Revenue: ฿9.24b (down 2.2% from FY 2022). Net income: ฿2.50b (up 4.5% from FY 2022). Profit margin: 27% (up from 25% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Feb 28
Quality Houses Public Company Limited Announces Dividend for the Second Half for the Year 2023, Payable on May 16, 2024 The Board of Directors' Meeting No.1/2024 of Quality Houses Public Company Limited heldon February 27, 2024, has resolved the following approvals: The company has to pay dividend from the net profit of the second-half of the year 2023 at the rate of THB 0.10 per share or the amount of approximately THB 1,071 million from the net profit of the second-half of the year 2023. Specifying the name list of shareholders who are eligible to receive dividend (Record Date) on April 26, 2024 and Dividend Payment date is May 16, 2024. Reported Earnings • Nov 08
Third quarter 2023 earnings released: EPS: ฿0.06 (vs ฿0.06 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.06 (in line with 3Q 2022). Revenue: ฿2.42b (down 2.2% from 3Q 2022). Net income: ฿633.7m (down 1.0% from 3Q 2022). Profit margin: 26% (in line with 3Q 2022). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Upcoming Dividend • Aug 16
Upcoming dividend of ฿0.05 per share at 6.0% yield Eligible shareholders must have bought the stock before 23 August 2023. Payment date: 07 September 2023. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 6.0%. Lower than top quartile of Thai dividend payers (6.4%). Higher than average of industry peers (4.2%). Reported Earnings • Aug 09
Second quarter 2023 earnings released: EPS: ฿0.06 (vs ฿0.048 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.06 (up from ฿0.048 in 2Q 2022). Revenue: ฿2.50b (up 11% from 2Q 2022). Net income: ฿669.4m (up 30% from 2Q 2022). Profit margin: 27% (up from 23% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 1% per year. Announcement • Jun 28
Quality Houses Public Company Limited Announces Director and Committee Changes Quality Houses Public Company Limited announced that at the Board of Directors' Meeting held on June 27, 2023 approved the appointment of Associate Professor Dr. Narongdech Srukhosit to be an Independent Director and Member of the Audit Committee to replace the vacant position of Mr. Rachai Wattanakasaem, effective on June 27, 2023 onward. The audit committee is consisted of: Chairman of the audit committee: Mrs. Tipawan Chayutimanta, Member of the audit committee: Ms. Vilasna Poonpatpibul, Member of the audit committee: Associate Professor Dr.Narongdech Srukhosit. Acting Secretary of the audit committee is Mrs. Suneerat Puntarikpan. Reported Earnings • May 12
First quarter 2023 earnings released: EPS: ฿0.06 (vs ฿0.055 in 1Q 2022) First quarter 2023 results: EPS: ฿0.06 (up from ฿0.055 in 1Q 2022). Revenue: ฿1.97b (down 8.2% from 1Q 2022). Net income: ฿592.4m (up 1.3% from 1Q 2022). Profit margin: 30% (up from 27% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 20
Upcoming dividend of ฿0.10 per share at 5.8% yield Eligible shareholders must have bought the stock before 27 April 2023. Payment date: 18 May 2023. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 5.8%. Lower than top quartile of Thai dividend payers (5.9%). 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. 6 experienced directors. 5 highly experienced directors. 4 independent directors (7 non-independent directors). Independent Director Adul Vinaiphat was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 10
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: ฿0.06 (up from ฿0.025 in 3Q 2021). Revenue: ฿2.48b (up 51% from 3Q 2021). Net income: ฿640.1m (up 143% from 3Q 2021). Profit margin: 26% (up from 16% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.5%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Aug 17
Upcoming dividend of ฿0.04 per share Eligible shareholders must have bought the stock before 24 August 2022. Payment date: 08 September 2022. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 5.0%. Lower than top quartile of Thai dividend payers (5.4%). Higher than average of industry peers (3.2%). Reported Earnings • Aug 11
Second quarter 2022 earnings released: EPS: ฿0.046 (vs ฿0.045 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.046 (up from ฿0.045 in 2Q 2021). Revenue: ฿2.26b (up 4.4% from 2Q 2021). Net income: ฿515.2m (up 7.0% from 2Q 2021). Profit margin: 23% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 11%, compared to a 30% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Reported Earnings • May 11
First quarter 2022 earnings: EPS in line with expectations, revenues disappoint First quarter 2022 results: EPS: ฿0.05 (up from ฿0.04 in 1Q 2021). Revenue: ฿2.14b (up 2.3% from 1Q 2021). Net income: ฿584.8m (up 36% from 1Q 2021). Profit margin: 27% (up from 21% in 1Q 2021). The increase in margin was primarily driven by lower expenses. Revenue missed analyst estimates by 100%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 9.6%, compared to a 18% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. 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. 6 experienced directors. 5 highly experienced directors. 4 independent directors (7 non-independent directors). Independent Director Adul Vinaiphat was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Apr 21
Upcoming dividend of ฿0.07 per share Eligible shareholders must have bought the stock before 28 April 2022. Payment date: 18 May 2022. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Thai dividend payers (5.1%). Higher than average of industry peers (3.1%). Reported Earnings • Feb 24
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: ฿0.16 (down from ฿0.20 in FY 2020). Revenue: ฿8.35b (down 11% from FY 2020). Net income: ฿1.67b (down 21% from FY 2020). Profit margin: 20% (down from 23% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 9.8%. Over the next year, revenue is forecast to grow 9.3%, compared to a 21% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS ฿0.02 (vs ฿0.054 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿1.64b (down 36% from 3Q 2020). Net income: ฿262.9m (down 54% from 3Q 2020). Profit margin: 16% (down from 23% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Aug 16
Upcoming dividend of ฿0.03 per share Eligible shareholders must have bought the stock before 23 August 2021. Payment date: 07 September 2021. Trailing yield: 5.0%. Within top quartile of Thai dividend payers (5.0%). Higher than average of industry peers (3.8%). Reported Earnings • Aug 10
Second quarter 2021 earnings released: EPS ฿0.04 (vs ฿0.043 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: ฿2.16b (down 9.3% from 2Q 2020). Net income: ฿481.7m (up 5.3% from 2Q 2020). Profit margin: 22% (up from 19% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Reported Earnings • May 13
First quarter 2021 earnings released: EPS ฿0.04 (vs ฿0.048 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: ฿2.09b (up 7.5% from 1Q 2020). Net income: ฿431.1m (down 16% from 1Q 2020). Profit margin: 21% (down from 26% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Apr 21
Upcoming dividend of ฿0.08 per share Eligible shareholders must have bought the stock before 28 April 2021. Payment date: 18 May 2021. Trailing yield: 4.9%. Within top quartile of Thai dividend payers (4.9%). Higher than average of industry peers (3.7%). Is New 90 Day High Low • Mar 15
New 90-day high: ฿2.54 The company is up 5.0% from a price of ฿2.42 on 15 December 2020. Underperformed the Thai market, which is up 7.0% over the last 90 days. Lagged the Real Estate industry, which is up 6.0% over the same period. Simply Wall St's valuation model estimates the intrinsic value at ฿1.29 per share. Reported Earnings • Feb 25
Full year 2020 earnings released: EPS ฿0.20 (vs ฿0.27 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿9.37b (down 14% from FY 2019). Net income: ฿2.12b (down 26% from FY 2019). Profit margin: 23% (down from 26% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Feb 25
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 0.7%. Earnings per share (EPS) also surpassed analyst estimates by 1.1%. Over the next year, revenue is forecast to grow 1.8%, compared to a 9.7% growth forecast for the Real Estate industry in Thailand. Is New 90 Day High Low • Dec 09
New 90-day high: ฿2.38 The company is up 5.0% from its price of ฿2.26 on 10 September 2020. The Thai market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿1.19 per share. Is New 90 Day High Low • Nov 23
New 90-day high: ฿2.30 The company is up 2.0% from its price of ฿2.26 on 25 August 2020. The Thai market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿1.08 per share. Analyst Estimate Surprise Post Earnings • Nov 11
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 0.05%. Earnings per share (EPS) exceeded analyst estimates by 23%. Over the next year, revenue is expected to shrink by 6.3% compared to a 3.6% decline forecast for the Real Estate industry in Thailand. Reported Earnings • Nov 11
Third quarter 2020 earnings released: EPS ฿0.05 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿2.55b (down 5.7% from 3Q 2019). Net income: ฿575.0m (down 20% from 3Q 2019). Profit margin: 23% (down from 27% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 16
New 90-day low: ฿2.10 The company is down 3.0% from its price of ฿2.16 on 17 July 2020. The Thai market is down 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿0.98 per share. 
