Reported Earnings • Mar 02
Full year 2025 earnings released: ฿0.03 loss per share (vs ฿0.12 profit in FY 2024) Full year 2025 results: ฿0.03 loss per share (down from ฿0.12 profit in FY 2024). Revenue: ฿468.4m (down 14% from FY 2024). Net loss: ฿7.55m (down 122% from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Jan 29
Now 35% overvalued after recent price rise Over the last 90 days, the stock has risen 78% to ฿1.62. The fair value is estimated to be ฿1.20, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jan 05
Now 38% overvalued after recent price rise Over the last 90 days, the stock has risen 65% to ฿1.60. The fair value is estimated to be ฿1.16, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company became loss making. New Risk • Dec 30
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 10% 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 (16% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risk Market cap is less than US$100m (฿341.2m market cap, or US$10.9m). New Risk • Nov 18
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 16% 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 (16% operating cash flow to total debt). Market cap is less than US$10m (฿249.6m market cap, or US$7.68m). Minor Risk Paying a dividend despite being loss-making. Reported Earnings • Nov 12
Third quarter 2025 earnings released: ฿0.01 loss per share (vs ฿0.007 profit in 3Q 2024) Third quarter 2025 results: ฿0.01 loss per share (down from ฿0.007 profit in 3Q 2024). Revenue: ฿106.7m (down 20% from 3Q 2024). Net loss: ฿4.19m (down 308% 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 48 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 09
Second quarter 2025 earnings released: EPS: ฿0.02 (vs ฿0.082 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.02 (down from ฿0.082 in 2Q 2024). Revenue: ฿183.6m (up 24% from 2Q 2024). Net income: ฿7.20m (down 68% from 2Q 2024). Profit margin: 3.9% (down from 15% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 32% per year, which means it has not declined as severely as earnings. Reported Earnings • May 08
First quarter 2025 earnings released: ฿0.05 loss per share (vs ฿0.028 profit in 1Q 2024) First quarter 2025 results: ฿0.05 loss per share (down from ฿0.028 profit in 1Q 2024). Revenue: ฿68.4m (down 16% from 1Q 2024). Net loss: ฿15.1m (down 292% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Apr 15
Upcoming dividend of ฿0.016 per share Eligible shareholders must have bought the stock before 21 April 2025. Payment date: 09 May 2025. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Thai dividend payers (8.1%). Lower than average of industry peers (6.0%). Announcement • Apr 12
Thanasiri Group Public Company Limited Approves Dividend for the Year Ended December 31, 2024, Payable on 9 May 2025 Thanasiri Group Public Company Limited at its Annual General Shareholders' Meeting held on April 11, 2025, approved the payment of dividend for year ended December 31, 2024 at the rate of THB 0.041 per share. The interim dividend has been paid at the rate of THB 0.025 per share, and the remaining dividend to be paid in this time is at the rate of THB 0.016 per share. The record date for determining the shareholders entitled to receive dividends is set on 22 April 2025 and the dividend payment date is set on 9 May 2025. Announcement • Feb 28
Thanasiri Group Public Company Limited (SET:THANA) announces an Equity Buyback for 27,000,000 shares, representing 9.73% for THB 30 million. Thanasiri Group Public Company Limited (SET:THANA) announces a share repurchase program. Under the program, the company will repurchase up to 27,000,000 shares, representing 9.73% of its share capital, for THB 30 million. The repurchase price must not exceed 115% of the average closing price of five business days prior to each repurchase date. The purpose of the share repurchase program is primarily aimed at financial management. The company aims to maximize the benefits of its excess liquidity to enhance financial stability. By repurchasing shares, it seeks to improve return on equity (ROE) and earnings per share (EPS), key indicators of financial performance. Additionally, the program signals to investors the company's strong financial position and management's confidence in future prospects. The program will expire on August 31, 2025. As of March 8, 2024, the company had 277,375,424 shares in issue. Reported Earnings • Feb 27
Full year 2024 earnings released: EPS: ฿0.12 (vs ฿0.15 in FY 2023) Full year 2024 results: EPS: ฿0.12 (down from ฿0.15 in FY 2023). Revenue: ฿542.8m (up 17% from FY 2023). Net income: ฿34.2m (down 16% from FY 2023). Profit margin: 6.3% (down from 8.8% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 14% per year. New Risk • Dec 09
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 9.9% 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 Interest payments are not well covered by earnings (1.2x net interest cover). Share price has been highly volatile over the past 3 months (9.9% average weekly change). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (5.7% net profit margin). Market cap is less than US$100m (฿341.2m market cap, or US$10.0m). New Risk • Nov 15
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿341.2m (US$9.79m) 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 Interest payments are not well covered by earnings (2.0x net interest cover). High level of non-cash earnings (25% accrual ratio). Market cap is less than US$10m (฿341.2m market cap, or US$9.79m). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.9% average weekly change). Profit margins are more than 30% lower than last year (8.9% net profit margin). New Risk • Nov 01
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 8.9% Last year net profit margin: 13% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.0x net interest cover). High level of non-cash earnings (25% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.8% average weekly change). Profit margins are more than 30% lower than last year (8.9% net profit margin). Market cap is less than US$100m (฿407.7m market cap, or US$12.1m). Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to ฿1.76, the stock trades at a trailing P/E ratio of 15.4x. Average trailing P/E is 12x in the Real Estate industry in Thailand. Total returns to shareholders of 42% over the past three years. Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: ฿0.082 (vs ฿0.002 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.082 (up from ฿0.002 in 2Q 2023). Revenue: ฿147.7m (up 26% from 2Q 2023). Net income: ฿22.7m (up ฿22.2m from 2Q 2023). Profit margin: 15% (up from 0.5% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. New Risk • Jun 17
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿360.6m (US$9.81m) 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 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: 199% Paying a dividend despite having no free cash flows. High level of non-cash earnings (32% accrual ratio). Market cap is less than US$10m (฿360.6m market cap, or US$9.81m). Minor Risk Profit margins are more than 30% lower than last year (3.0% net profit margin). New Risk • Jun 10
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 199% The company is paying a dividend despite having no free cash flows. Dividend yield: 4.8% 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 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: 199% Paying a dividend despite having no free cash flows. High level of non-cash earnings (32% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (3.0% net profit margin). Market cap is less than US$100m (฿396.6m market cap, or US$10.8m). Board Change • May 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Worrakrit Jaruwongpak was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 15
Upcoming dividend of ฿0.028 per share Eligible shareholders must have bought the stock before 22 April 2024. Payment date: 09 May 2024. Payout ratio is a comfortable 46% but the company is not cash flow positive. Trailing yield: 4.0%. Lower than top quartile of Thai dividend payers (5.8%). Lower than average of industry peers (4.5%). Announcement • Apr 09
Thanasiri Group Public Company Limited Announces Board and Committee Changes Thanasiri Group Company Limited announced that Mr. Yothin Juangpanich, Independent directors /Chairman of the Audit Committee /Chairman of the Nomination and Remuneration Committee. Do not wish to return to the position of director and sub-committee of the company. After the term expire on April 9, 2024 onwards. The Board of Director's Meeting of the company has resolved in the meeting No.2/2024 held on April 9, 2024. Approved the appointment of independent director, Mr. Chatree Chochai to be a Chairman of the Audit Committee /Chairman of the Nomination and Remuneration Committee of the Company to replace Mr. Yothin Juangpanich. By which, the effective from April 9, 2024 onwards. Declared Dividend • Feb 24
Final dividend reduced to ฿0.028 Dividend of ฿0.028 is 60% lower than last year. Ex-date: 22nd April 2024 Payment date: 9th May 2024 Dividend yield will be 3.7%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (32% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 4.1% per year over the past 8 years. However, payments have been volatile during that time. Earnings per share has grown by 66% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 13
Third quarter 2023 earnings released: EPS: ฿0.04 (vs ฿0.05 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.04. Revenue: ฿71.9m (down 53% from 3Q 2022). Net income: ฿12.1m (flat on 3Q 2022). Profit margin: 17% (up from 7.9% in 3Q 2022). The increase in margin was driven by lower expenses. Announcement • Nov 04
Thanasiri Group Public Company Limited Announces Resignation of Luechai Boontaveekul as CFO Thanasiri Group Public Company Limited announced Resignation of Luechai Boontaveekul as CFO. Position of CFO: Senior Financial Department Manager. Effective Date of Termination: November 01, 2023. Upcoming Dividend • Aug 14
Upcoming dividend of ฿0.04 per share at 5.6% yield Eligible shareholders must have bought the stock before 21 August 2023. Payment date: 05 September 2023. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 5.6%. Lower than top quartile of Thai dividend payers (6.4%). Higher than average of industry peers (4.2%). New Risk • Aug 09
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 33% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (33% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (9.5% increase in shares outstanding). Market cap is less than US$100m (฿540.9m market cap, or US$15.4m). Reported Earnings • Aug 08
Second quarter 2023 earnings released: EPS: ฿0.002 (vs ฿0.055 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.002 (down from ฿0.055 in 2Q 2022). Revenue: ฿117.4m (down 28% from 2Q 2022). Net income: ฿565.0k (down 96% from 2Q 2022). Profit margin: 0.5% (down from 8.6% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Announcement • Aug 08
Thanasiri Group Public Company Limited Announces Interim Cash Dividend for the Period from 1 January 2023 to 30 June 2023, Payable on 5 September 2023 Thanasiri Group Public Company Limited announced interim cash dividend of THB 0.04 per share, THB 1.00 par value for the period from 1 January 2023 to 30 June 2023. Ex-dividend date is 21 August 2023, Record date is 22 August 2023 and Payment date is 5 September 2023. Upcoming Dividend • Apr 13
Upcoming dividend of ฿0.07 per share at 5.7% yield Eligible shareholders must have bought the stock before 20 April 2023. Payment date: 09 May 2023. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 5.7%. Lower than top quartile of Thai dividend payers (5.9%). Higher than average of industry peers (4.0%). Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ฿2.38, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 14x in the Real Estate industry in Thailand. Total returns to shareholders of 195% over the past three years. Board Change • Nov 16
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. Executive Director Yupin Garnjanawigai was the last 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. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improved over the past week After last week's 22% share price gain to ฿3.16, the stock trades at a trailing P/E ratio of 16x. Average trailing P/E is 13x in the Real Estate industry in Thailand. Total returns to shareholders of 91% over the past three years. Upcoming Dividend • Aug 18
Upcoming dividend of ฿0.05 per share Eligible shareholders must have bought the stock before 25 August 2022. Payment date: 08 September 2022. The company last paid an ordinary dividend in February 2016. The average dividend yield among industry peers is 3.2%. Announcement • Aug 13
Thanasiri Group Public Company Limited Announces Interim Cash Dividend for the Period from 1 January 2022 to 30 June 2022, Payable on 8 September 2022 Thanasiri Group Public Company Limited announced interim cash dividend of THB 0.05 per share, THB 1.00 par value for the period from 1 January 2022 to 30 June 2022. Scheduled dates are as follows: Ex-dividend date of 25 August 2022, Record date of 26 August 2022 and Payment date 8 September 2022. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improved over the past week After last week's 21% share price gain to ฿3.70, the stock trades at a trailing P/E ratio of 22.5x. Average trailing P/E is 12x in the Real Estate industry in Thailand. Total returns to shareholders of 100% over the past three years. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improved over the past week After last week's 15% share price gain to ฿3.18, the stock trades at a trailing P/E ratio of 19.4x. Average trailing P/E is 12x in the Real Estate industry in Thailand. Total returns to shareholders of 66% over the past three years. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: ฿0.067 (vs ฿0.007 loss in 1Q 2021) First quarter 2022 results: EPS: ฿0.067 (up from ฿0.007 loss in 1Q 2021). Revenue: ฿146.1m (up 261% from 1Q 2021). Net income: ฿16.9m (up ฿18.6m from 1Q 2021). Profit margin: 12% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 06
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ฿2.74, the stock trades at a trailing P/E ratio of 30.2x. Average trailing P/E is 14x in the Real Estate industry in Thailand. Total returns to shareholders of 41% over the past three years. Board Change • Apr 27
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. Executive Director Yupin Garnjanawigai was the last 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. Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improved over the past week After last week's 17% share price gain to ฿1.99, the stock trades at a trailing P/E ratio of 21.9x. Average trailing P/E is 14x in the Real Estate industry in Thailand. Total loss to shareholders of 9.5% over the past three years. Reported Earnings • Feb 27
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ฿0.09 (up from ฿0.066 loss in FY 2020). Revenue: ฿286.9m (down 15% from FY 2020). Net income: ฿23.0m (up ฿39.6m from FY 2020). Profit margin: 8.0% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS ฿0.022 (vs ฿0.022 loss 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: ฿72.9m (down 27% from 2Q 2020). Net income: ฿5.58m (up ฿11.2m from 2Q 2020). Profit margin: 7.7% (up from net loss in 2Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 16% per year. Reported Earnings • May 17
First quarter 2021 earnings released: ฿0.007 loss per share (vs ฿0.033 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: ฿40.5m (down 38% from 1Q 2020). Net loss: ฿1.74m (loss narrowed 79% from 1Q 2020). 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 13% per year, which means it has not declined as severely as earnings. Announcement • Mar 10
Thanasiri Group Public Company Limited, Annual General Meeting, Apr 08, 2021 Thanasiri Group Public Company Limited, Annual General Meeting, Apr 08, 2021, at 03:00 Coordinated Universal Time. Location: Bangkoknoi room 1, 3rd floor, Royal City Hotel Borommaratchachonnani Rd. Bangbamru, Bangplad Bangkok Thailand Reported Earnings • Feb 25
Full year 2020 earnings released: ฿0.07 loss per share (vs ฿0.24 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: ฿338.1m (down 14% from FY 2019). Net loss: ฿16.6m (loss narrowed 73% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 79% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 03
New 90-day high: ฿1.17 The company is up 41% from its price of ฿0.83 on 05 November 2020. The Thai market is up 22% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 21% over the same period. Is New 90 Day High Low • Dec 03
New 90-day high: ฿0.93 The company is up 9.0% from its price of ฿0.85 on 03 September 2020. The Thai market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Real Estate industry, which is up 10.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS ฿0.022 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2020 results: Revenue: ฿129.9m (flat on 3Q 2019). Net income: ฿5.49m (up ฿20.1m from 3Q 2019). Profit margin: 4.2% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 101% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 19
New 90-day low: ฿0.82 The company is down 5.0% from its price of ฿0.86 on 21 July 2020. The Thai market is down 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 10.0% over the same period. 
