Declared Dividend • Aug 13
Dividend of ฿0.25 announced Dividend of ฿0.25 is the same as last year. Ex-date: 26th August 2026 Payment date: 10th September 2026 Dividend yield will be 7.1%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (70% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 14% per year over the past 6 years. However, payments have been volatile during that time. EPS is expected to grow by 11% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 11
Index Living Mall Public Company Limited to Report Q2, 2026 Results on Aug 26, 2026 Index Living Mall Public Company Limited announced that they will report Q2, 2026 results on Aug 26, 2026 Announcement • May 22
Index Living Mall Public Company Limited to Report Q1, 2026 Results on May 21, 2026 Index Living Mall Public Company Limited announced that they will report Q1, 2026 results on May 21, 2026 Reported Earnings • May 15
First quarter 2026 earnings released: EPS: ฿0.37 (vs ฿0.43 in 1Q 2025) First quarter 2026 results: EPS: ฿0.37 (down from ฿0.43 in 1Q 2025). Revenue: ฿2.48b (down 1.8% from 1Q 2025). Net income: ฿185.4m (down 14% from 1Q 2025). Profit margin: 7.5% (down from 8.5% in 1Q 2025). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Specialty Retail 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 14% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 04
Upcoming dividend of ฿0.75 per share Eligible shareholders must have bought the stock before 11 May 2026. Payment date: 22 May 2026. Payout ratio is a comfortable 67% and this is well supported by cash flows. Trailing yield: 7.4%. Lower than top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (4.6%). Reported Earnings • Mar 02
Full year 2025 earnings: EPS in line with expectations, revenues disappoint Full year 2025 results: EPS: ฿1.49 (up from ฿1.48 in FY 2024). Revenue: ฿10.0b (up 1.1% from FY 2024). Net income: ฿753.2m (up 1.1% from FY 2024). Profit margin: 7.5% (in line with FY 2024). Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Specialty Retail industry in Thailand. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Declared Dividend • Mar 02
Final dividend of ฿0.75 announced Dividend of ฿0.75 is the same as last year. Ex-date: 11th May 2026 Payment date: 22nd May 2026 Dividend yield will be 6.8%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (68% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 14% per year over the past 6 years. However, payments have been volatile during that time. EPS is expected to grow by 11% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Jan 13
Price target decreased by 13% to ฿17.33 Down from ฿20.00, the current price target is an average from 3 analysts. New target price is 31% above last closing price of ฿13.20. Stock is down 11% over the past year. The company is forecast to post earnings per share of ฿1.50 for next year compared to ฿1.48 last year. Reported Earnings • Nov 11
Third quarter 2025 earnings released: EPS: ฿0.36 (vs ฿0.38 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.36 (down from ฿0.38 in 3Q 2024). Revenue: ฿2.50b (up 2.0% from 3Q 2024). Net income: ฿182.2m (down 6.0% from 3Q 2024). Profit margin: 7.3% (down from 7.9% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Specialty Retail industry in Thailand. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Oct 31
Now 20% undervalued Over the last 90 days, the stock has risen 5.1% to ฿14.30. The fair value is estimated to be ฿17.96, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.9% over the last 3 years. Earnings per share has grown by 8.9%. Revenue is forecast to grow by 7.9% in 2 years. Earnings are forecast to grow by 8.9% in the next 2 years. Buy Or Sell Opportunity • Aug 20
Now 21% undervalued Over the last 90 days, the stock has risen 2.2% to ฿14.10. The fair value is estimated to be ฿17.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.9% over the last 3 years. Earnings per share has grown by 8.9%. Revenue is forecast to grow by 6.8% in 2 years. Earnings are forecast to grow by 2.4% in the next 2 years. Price Target Changed • Aug 17
Price target decreased by 11% to ฿17.90 Down from ฿20.13, the current price target is an average from 4 analysts. New target price is 24% above last closing price of ฿14.40. Stock is down 11% over the past year. The company is forecast to post earnings per share of ฿1.42 for next year compared to ฿1.48 last year. Declared Dividend • Aug 15
First half dividend of ฿0.25 announced Dividend of ฿0.25 is the same as last year. Ex-date: 26th August 2025 Payment date: 9th September 2025 Dividend yield will be 6.9%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (67% earnings payout ratio) and cash flows (51% cash payout ratio). The dividend has increased by an average of 17% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 5.1% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 14
Second quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2025 results: EPS: ฿0.35 (up from ฿0.34 in 2Q 2024). Revenue: ฿2.32b (down 1.5% from 2Q 2024). Net income: ฿175.7m (up 2.6% from 2Q 2024). Profit margin: 7.6% (up from 7.3% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) exceeded analyst estimates by 9.4%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Specialty Retail industry in Thailand. Over the last 3 years on average, earnings per share has increased by 9% 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 2025 earnings released: EPS: ฿0.43 (vs ฿0.41 in 1Q 2024) First quarter 2025 results: EPS: ฿0.43 (up from ฿0.41 in 1Q 2024). Revenue: ฿2.52b (up 2.0% from 1Q 2024). Net income: ฿215.4m (up 3.3% from 1Q 2024). Profit margin: 8.5% (up from 8.4% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Specialty Retail industry in Thailand. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 30
Price target decreased by 8.9% to ฿18.33 Down from ฿20.13, the current price target is an average from 4 analysts. New target price is 30% above last closing price of ฿14.10. Stock is down 32% over the past year. The company is forecast to post earnings per share of ฿1.45 for next year compared to ฿1.48 last year. Declared Dividend • Feb 28
Final dividend of ฿0.75 announced Shareholders will receive a dividend of ฿0.75. Ex-date: 9th May 2025 Payment date: 23rd May 2025 Dividend yield will be 7.1%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (58% cash payout ratio). The dividend has increased by an average of 17% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 16% 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 misses analyst expectations Full year 2024 results: EPS: ฿1.48 (up from ฿1.44 in FY 2023). Revenue: ฿9.89b (up 5.1% from FY 2023). Net income: ฿745.3m (up 2.7% from FY 2023). Profit margin: 7.5% (down from 7.7% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.8%. Revenue is forecast to grow 4.0% p.a. on average during the next 2 years, compared to a 4.9% growth forecast for the Specialty Retail industry in Thailand. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Feb 27
Index Living Mall Public Company Limited, Annual General Meeting, Apr 25, 2025 Index Living Mall Public Company Limited, Annual General Meeting, Apr 25, 2025, at 14:00 SE Asia Standard Time. Location: studio room meeting, indexlivingmall, Thailand Buy Or Sell Opportunity • Feb 20
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to ฿14.60. The fair value is estimated to be ฿18.71, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 7.7% in 2 years. Earnings are forecast to grow by 8.6% in the next 2 years. Price Target Changed • Feb 20
Price target decreased by 13% to ฿18.50 Down from ฿21.17, the current price target is an average from 3 analysts. New target price is 27% above last closing price of ฿14.60. Stock is down 32% over the past year. The company is forecast to post earnings per share of ฿1.51 for next year compared to ฿1.44 last year. Reported Earnings • Nov 14
Third quarter 2024 earnings: EPS exceeds analyst expectations Third quarter 2024 results: EPS: ฿0.38 (in line with 3Q 2023). Revenue: ฿2.45b (up 1.2% from 3Q 2023). Net income: ฿193.8m (up 1.2% from 3Q 2023). Profit margin: 7.9% (in line with 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.6%. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Specialty Retail industry in Thailand. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Price Target Changed • Nov 06
Price target decreased by 7.0% to ฿23.88 Down from ฿25.68, the current price target is an average from 4 analysts. New target price is 40% above last closing price of ฿17.10. Stock is down 26% over the past year. The company is forecast to post earnings per share of ฿1.54 for next year compared to ฿1.44 last year. Declared Dividend • Aug 11
First half dividend of ฿0.25 announced Dividend of ฿0.25 is the same as last year. Ex-date: 23rd August 2024 Payment date: 9th September 2024 Dividend yield will be 6.1%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 21% per year over the past 4 years. However, payments have been volatile during that time. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: ฿0.34 (vs ฿0.32 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.34 (up from ฿0.32 in 2Q 2023). Revenue: ฿2.35b (up 6.2% from 2Q 2023). Net income: ฿171.2m (up 4.6% from 2Q 2023). Profit margin: 7.3% (down from 7.4% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Specialty Retail industry in Thailand. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Aug 10
Index Living Mall Public Company Limited Announces Cash Dividend for the Operating Period from January 1, 2024 to June 30, 2024, Payable on September 9, 2024 Index Living Mall Public Company Limited announced cash dividend of THB 0.25 per share for the operating period from January 1, 2024 to June 30, 2024, payable on September 9, 2024. Record date for the right to receive dividends is August 26, 2024. Ex-dividend date is August 23, 2024. Reported Earnings • May 11
First quarter 2024 earnings released: EPS: ฿0.41 (vs ฿0.34 in 1Q 2023) First quarter 2024 results: EPS: ฿0.41 (up from ฿0.34 in 1Q 2023). Revenue: ฿2.47b (up 12% from 1Q 2023). Net income: ฿208.6m (up 20% from 1Q 2023). Profit margin: 8.4% (up from 7.9% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Specialty Retail industry in Thailand. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • May 09
Now 20% overvalued Over the last 90 days, the stock has fallen 2.7% to ฿21.60. The fair value is estimated to be ฿17.97, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.3% over the last 3 years. Earnings per share has grown by 19%. For the next 3 years, revenue is forecast to grow by 5.0% per annum. Earnings are also forecast to grow by 9.0% per annum over the same time period. Announcement • Apr 27
Index Living Mall Public Company Limited Approves Dividend for the Second Half Year Ended December 31, 2023, Payable on May 23, 2024 Index Living Mall Public Company Limited announced that at its AGM held on 26 April 2024, the shareholders approved dividend at the rate of THB 1.00 per share at totaling THB 505 million based on the company's net profit from January 1, 2023, to December 31, 2023. The interim dividend payment based on the company's net profit from January 1, 2023 to June 30, 2023 at the rate of THB 0.25 per share had been paid to the shareholders on September 7, 2023, thereafter, the remaining dividend payment at this time shall be THB 0.75 per share. The record date for specifying the list of shareholders who have the right to receive this dividend was on May 13, 2024 and the dividend will be paid on May 23, 2024. Declared Dividend • Mar 01
Final dividend increased to ฿0.75 Dividend of ฿0.75 is 25% higher than last year. Ex-date: 10th May 2024 Payment date: 23rd May 2024 Dividend yield will be 4.5%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (60% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has increased by an average of 17% per year over the past 4 years. However, payments have been volatile during that time. EPS is expected to grow by 18% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 29
Index Living Mall Public Company Limited, Annual General Meeting, Apr 26, 2024 Index Living Mall Public Company Limited, Annual General Meeting, Apr 26, 2024, at 14:00 SE Asia Standard Time. Location: Academy Training Room 1 No. 147 Soi Rama 2 Soi 50, Rama 2 Road, Samaedam Sub-district, Bangkhuntien District Bangkok Thailand Agenda: To consider and approve the financial statements for the year ended December 31, 2023; to consider and approve the appropriation of the net profit in 2023 as the annual dividend; to consider and approve the appointment of directors who are due to retied by rotation in 2024; To consider and approve the remuneration for the Company's Board of Directors in 2024; to consider and approve the appointment of the Company's external auditors and determination of the audit fee for 2024; and to consider other matters. Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: ฿1.44 (vs ฿1.31 in FY 2022) Full year 2023 results: EPS: ฿1.44 (up from ฿1.31 in FY 2022). Revenue: ฿9.41b (up 4.6% from FY 2022). Net income: ฿726.0m (up 10% from FY 2022). Profit margin: 7.7% (up from 7.3% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.5% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Specialty Retail industry in Thailand. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 15% per year. Reported Earnings • Nov 10
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: ฿0.38 (up from ฿0.30 in 3Q 2022). Revenue: ฿2.42b (up 8.9% from 3Q 2022). Net income: ฿191.5m (up 26% from 3Q 2022). Profit margin: 7.9% (up from 6.9% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) also surpassed analyst estimates by 8.6%. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Specialty Retail industry in Thailand. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 20% per year. Price Target Changed • Oct 18
Price target increased by 7.0% to ฿26.07 Up from ฿24.35, the current price target is an average from 3 analysts. New target price is 9.5% above last closing price of ฿23.80. Stock is up 38% over the past year. The company is forecast to post earnings per share of ฿1.41 for next year compared to ฿1.31 last year. Price Target Changed • Sep 06
Price target increased by 7.7% to ฿24.35 Up from ฿22.60, the current price target is an average from 4 analysts. New target price is 5.9% above last closing price of ฿23.00. Stock is up 28% over the past year. The company is forecast to post earnings per share of ฿1.41 for next year compared to ฿1.31 last year. Upcoming Dividend • Aug 16
Upcoming dividend of ฿0.25 per share at 3.7% yield Eligible shareholders must have bought the stock before 23 August 2023. Payment date: 07 September 2023. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Thai dividend payers (6.4%). Higher than average of industry peers (2.4%). Announcement • Aug 10
Index Living Mall Public Company Limited Declares Cash Dividend for the Period from January 2023 to June 2023, Payable on 07 September 2023 Index Living Mall Public Company Limited declared a cash dividend of THB 0.25 per share for the period from January 2023 to June 2023. Record date for the right to receive dividends is 24-August-2023, Ex-dividend date is 23-August-2023, Payment date is 07-September-2023. Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: ฿0.32 (vs ฿0.32 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.32. Revenue: ฿2.22b (up 2.2% from 2Q 2022). Net income: ฿163.7m (flat on 2Q 2022). Profit margin: 7.4% (down from 7.5% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Specialty Retail industry in Thailand. Reported Earnings • May 18
First quarter 2023 earnings released: EPS: ฿0.35 (vs ฿0.32 in 1Q 2022) First quarter 2023 results: EPS: ฿0.35 (up from ฿0.32 in 1Q 2022). Revenue: ฿2.21b (up 2.9% from 1Q 2022). Net income: ฿174.3m (up 8.5% from 1Q 2022). Profit margin: 7.9% (up from 7.5% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.2% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the Specialty Retail 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 increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • May 02
Upcoming dividend of ฿0.60 per share at 3.9% yield Eligible shareholders must have bought the stock before 09 May 2023. Payment date: 22 May 2023. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of Thai dividend payers (6.2%). Higher than average of industry peers (2.2%). Announcement • Jan 13
Index Living Mall Public Company Limited, Annual General Meeting, Apr 26, 2023 Index Living Mall Public Company Limited, Annual General Meeting, Apr 26, 2023. Price Target Changed • Nov 29
Price target increased to ฿23.05 Up from ฿21.20, the current price target is an average from 2 analysts. New target price is 21% above last closing price of ฿19.00. Stock is up 8.0% over the past year. The company is forecast to post earnings per share of ฿1.25 for next year compared to ฿0.90 last year. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 8 experienced directors. 2 highly experienced directors. 5 independent directors (6 non-independent directors). Independent Director Thakorn Piyapan was the last independent director to join the board, commencing their role in 2022. 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 08
Third quarter 2022 earnings released: EPS: ฿0.30 (vs ฿0.11 in 3Q 2021) Third quarter 2022 results: EPS: ฿0.30 (up from ฿0.11 in 3Q 2021). Revenue: ฿2.22b (up 20% from 3Q 2021). Net income: ฿152.6m (up 173% from 3Q 2021). Profit margin: 6.9% (up from 3.0% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.2% p.a. on average during the next 2 years, compared to a 5.4% growth forecast for the Specialty Retail industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Upcoming Dividend • Aug 15
Upcoming dividend of ฿0.20 per share Eligible shareholders must have bought the stock before 22 August 2022. Payment date: 06 September 2022. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Thai dividend payers (5.5%). Higher than average of industry peers (1.8%). Reported Earnings • Aug 10
Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2022 results: EPS: ฿0.32 (up from ฿0.20 in 2Q 2021). Revenue: ฿2.17b (up 5.9% from 2Q 2021). Net income: ฿162.3m (up 61% from 2Q 2021). Profit margin: 7.5% (up from 4.9% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 6.1%, compared to a 11% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • May 16
First quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2022 results: EPS: ฿0.32 (up from ฿0.29 in 1Q 2021). Revenue: ฿2.15b (flat on 1Q 2021). Net income: ฿160.6m (up 11% from 1Q 2021). Profit margin: 7.5% (up from 6.8% in 1Q 2021). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 7.2%, compared to a 7.7% growth forecast for the industry in Thailand. Upcoming Dividend • Apr 28
Upcoming dividend of ฿0.40 per share Eligible shareholders must have bought the stock before 05 May 2022. Payment date: 18 May 2022. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Thai dividend payers (5.1%). Higher than average of industry peers (1.6%). Price Target Changed • Apr 27
Price target increased to ฿21.20 Up from ฿19.13, the current price target is an average from 3 analysts. New target price is 7.8% below last closing price of ฿23.00. Stock is up 67% over the past year. The company is forecast to post earnings per share of ฿1.19 for next year compared to ฿0.90 last year. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 8 experienced directors. 2 highly experienced directors. 5 independent directors (6 non-independent directors). Independent Director Thakorn Piyapan was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Apr 20
Price target increased to ฿21.20 Up from ฿19.13, the current price target is an average from 3 analysts. New target price is 11% below last closing price of ฿23.70. Stock is up 68% over the past year. The company is forecast to post earnings per share of ฿1.19 for next year compared to ฿0.90 last year. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improved over the past week After last week's 17% share price gain to ฿21.10, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 26x in the Specialty Retail industry in Thailand. Total returns to shareholders of 44% over the past year. Reported Earnings • Feb 27
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: ฿0.90 (up from ฿0.83 in FY 2020). Revenue: ฿8.41b (up 2.7% from FY 2020). Net income: ฿453.2m (up 7.6% from FY 2020). Profit margin: 5.4% (up from 5.1% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 1.9%, compared to a 11% growth forecast for the retail industry in Thailand. Price Target Changed • Nov 11
Price target increased to ฿17.45 Up from ฿16.08, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of ฿17.80. Stock is up 35% over the past year. The company is forecast to post earnings per share of ฿0.93 for next year compared to ฿0.83 last year. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS ฿0.11 (vs ฿0.29 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿1.85b (down 7.0% from 3Q 2020). Net income: ฿55.9m (down 62% from 3Q 2020). Profit margin: 3.0% (down from 7.3% in 3Q 2020). The decrease in margin was driven by lower revenue. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improved over the past week After last week's 19% share price gain to ฿16.00, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 26x in the Specialty Retail industry in Thailand. Total returns to shareholders of 35% over the past year. Upcoming Dividend • Aug 12
Upcoming dividend of ฿0.15 per share Eligible shareholders must have bought the stock before 19 August 2021. Payment date: 03 September 2021. Trailing yield: 3.1%. Lower than top quartile of Thai dividend payers (5.0%). Higher than average of industry peers (1.2%). Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS ฿0.20 (vs ฿0.029 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿2.05b (up 11% from 2Q 2020). Net income: ฿101.0m (up ฿86.5m from 2Q 2020). Profit margin: 4.9% (up from 0.8% in 2Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • May 09
First quarter 2021 earnings released: EPS ฿0.29 (vs ฿0.23 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: ฿2.15b (down 3.6% from 1Q 2020). Net income: ฿145.4m (up 23% from 1Q 2020). Profit margin: 6.8% (up from 5.3% in 1Q 2020). The increase in margin was driven by lower expenses. Upcoming Dividend • Apr 29
Upcoming dividend of ฿0.27 per share Eligible shareholders must have bought the stock before 06 May 2021. Payment date: 19 May 2021. Trailing yield: 3.0%. Lower than top quartile of Thai dividend payers (4.8%). Higher than average of industry peers (1.1%). Is New 90 Day High Low • Mar 08
New 90-day high: ฿14.80 The company is up 8.0% from its price of ฿13.70 on 08 December 2020. The Thai market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Specialty Retail industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿5.62 per share. Reported Earnings • Feb 23
Full year 2020 earnings released: EPS ฿0.83 (vs ฿1.33 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿8.19b (down 17% from FY 2019). Net income: ฿421.2m (down 29% from FY 2019). Profit margin: 5.1% (down from 6.0% in FY 2019). The decrease in margin was driven by lower revenue. Analyst Estimate Surprise Post Earnings • Feb 23
Revenue and earnings miss expectations Revenue missed analyst estimates by 0.4%. Earnings per share (EPS) also missed analyst estimates by 1.6%. Over the next year, revenue is forecast to grow 6.9%, compared to a 13% growth forecast for the Specialty Retail industry in Thailand. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS ฿0.29 The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2020 results: Revenue: ฿1.99b (down 19% from 3Q 2019). Net income: ฿145.6m (down 12% from 3Q 2019). Profit margin: 7.3% (up from 6.8% in 3Q 2019). The increase in margin was driven by lower expenses. Is New 90 Day High Low • Oct 30
New 90-day low: ฿11.30 The company is down 14% from its price of ฿13.10 on 31 July 2020. The Thai market is down 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is down 5.0% over the same period.