Reported Earnings • May 15
First quarter 2026 earnings released: EPS: ฿0.09 (vs ฿0.13 in 1Q 2025) First quarter 2026 results: EPS: ฿0.09 (down from ฿0.13 in 1Q 2025). Revenue: ฿259.3m (down 5.7% from 1Q 2025). Net income: ฿25.1m (down 32% from 1Q 2025). Profit margin: 9.7% (down from 13% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 30
Upcoming dividend of ฿0.23 per share Eligible shareholders must have bought the stock before 07 May 2026. Payment date: 20 May 2026. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 8.2%. Within top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (0.4%). Board Change • Mar 25
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. Independent Director Phisut Areemitra was the last independent director to join the board, commencing their role in 2026. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Declared Dividend • Feb 28
Dividend increased to ฿0.23 Dividend of ฿0.23 is 77% higher than last year. Ex-date: 7th May 2026 Payment date: 20th May 2026 Dividend yield will be 8.5%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (19% cash payout ratio). The dividend has increased by an average of 4.5% per year over the past 6 years. However, payments have been volatile during that time. Earnings per share has grown by 16% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 26
Applicad Public Company Limited Proposes Cash Dividend for the Operating Period from 1 January 2025 to 31 December 2025, Payable on 20 May 2026 The Board of Directors of Applicad Public Company Limited, in its meeting held on 24 February 2026, proposed a cash dividend of THB 0.23 per share for the operating period from 1 January 2025 to 31 December 2025, to be paid to common shareholders. The record date for the right to receive dividends is 8 May 2026, with the ex-dividend date on 7 May 2026. Payment is scheduled for 20 May 2026. The proposal will be presented at the Annual General Meeting of Shareholders on 29 April 2026. Announcement • Feb 25
Applicad Public Company Limited, Annual General Meeting, Apr 29, 2026 Applicad Public Company Limited, Annual General Meeting, Apr 29, 2026, at 10:00 SE Asia Standard Time. Announcement • Jan 20
Applicad Public Company Limited Announces Resignation of Jaruwat Savetpacharaporn as Independent Director and Chairman of the Risk and Sustainability Management Committee, Effective January 19, 2026 Applicad Public Company Limited announced that Mr. Jaruwat Savetpacharaporn has resigned from his position as Independent Director and Chairman of the Risk and Sustainability Management Committee due to personal business commitments. The expiration date for both positions is January 19, 2026. Reported Earnings • Nov 18
Third quarter 2025 earnings released: EPS: ฿0.11 (vs ฿0.09 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.11 (up from ฿0.09 in 3Q 2024). Revenue: ฿292.3m (up 4.5% from 3Q 2024). Net income: ฿30.0m (up 16% from 3Q 2024). Profit margin: 10% (up from 9.2% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ฿2.40, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 15x in the Electronic industry in Thailand. Total loss to shareholders of 16% over the past three years. Reported Earnings • Aug 09
Second quarter 2025 earnings released: EPS: ฿0.07 (vs ฿0.02 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.07 (up from ฿0.02 in 2Q 2024). Revenue: ฿275.7m (up 25% from 2Q 2024). Net income: ฿18.6m (up 167% from 2Q 2024). Profit margin: 6.7% (up from 3.2% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ฿2.60, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 12x in the Electronic industry in Thailand. Total returns to shareholders of 3.3% over the past three years. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: ฿0.13 (vs ฿0.02 in 1Q 2024) First quarter 2025 results: EPS: ฿0.13 (up from ฿0.02 in 1Q 2024). Revenue: ฿274.9m (up 28% from 1Q 2024). Net income: ฿36.9m (up 464% from 1Q 2024). Profit margin: 13% (up from 3.0% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. New Risk • May 14
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 4.8% 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 Risk Earnings have declined by 2.0% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (4.8% average weekly change). Market cap is less than US$100m (฿467.6m market cap, or US$14.0m). Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to ฿2.18, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 14x in the Electronic industry in Thailand. Total loss to shareholders of 31% over the past three years. Board Change • May 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Isra Akrapitak was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 23
Upcoming dividend of ฿0.13 per share Eligible shareholders must have bought the stock before 30 April 2025. Payment date: 19 May 2025. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 7.4%. Lower than top quartile of Thai dividend payers (8.1%). Higher than average of industry peers (1.3%). Declared Dividend • Mar 14
Dividend reduced to ฿0.13 Dividend of ฿0.13 is 13% lower than last year. Ex-date: 30th April 2025 Payment date: 19th May 2025 Dividend yield will be 7.2%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is not covered by earnings (123% earnings payout ratio). However, it is covered by cash flows (70% cash payout ratio). The dividend has increased by an average of 8.4% per year over the past 5 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 37% to bring the payout ratio under control. However, EPS has declined by 3.4% over the last 5 years so the company would need to reverse this trend. Announcement • Mar 13
Applicad Public Company Limited Resolves to Remove of Isra Akrapitak as Director, Effective 22 April 2025 Applicad Public Company Limited resolved to remove of ISRA AKRAPITAK as DIRECTOR. Expire Date is 22 April 2025. Terminate Reason: The shareholder meeting resolved to remove. Reported Earnings • Feb 27
Full year 2024 earnings released: EPS: ฿0.24 (vs ฿0.18 in FY 2023) Full year 2024 results: EPS: ฿0.24 (up from ฿0.18 in FY 2023). Revenue: ฿1.02b (up 13% from FY 2023). Net income: ฿66.9m (up 32% from FY 2023). Profit margin: 6.5% (up from 5.6% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Announcement • Jan 29
Applicad Public Company Limited Appoints Varunee Nonthasri as Company Secretary Application Public Company Limited informed that at the Board of Directors' Meeting held on January 26, 2025, resolved to appoint Ms. Varunee Nonthasri to the position of Company Secretary from January 27, 2025 onwards. Announcement • Dec 24
Applicad Public Company Limited Announces Resignation of Mr. Sorawat Nakmanee as Company Secretary, Investor Relations Officer Effective from 1 January 2025 Onwards Applicad Public Company Limited announced that Mr. Sorawat Nakmanee has submitted his resignation from the position of Company Secretary, effective from 1 January 2025 onwards. Additionally, Ms. Kanyarat Kampangkaew has submitted her resignation from the position of Investor Relations Officer of the Company, effective from 1 January 2025 onwards. Buy Or Sell Opportunity • Oct 09
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 1.6% to ฿1.87. The fair value is estimated to be ฿1.51, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years, while earnings per share has been flat. Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to ฿1.93, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 22x in the Electronic industry in Thailand. Total loss to shareholders of 37% over the past three years. Buy Or Sell Opportunity • Sep 24
Now 28% overvalued after recent price rise Over the last 90 days, the stock has risen 3.8% to ฿1.93. The fair value is estimated to be ฿1.51, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years, while earnings per share has been flat. Board Change • Sep 21
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Bongkot Rungkornpaisarn was the last independent 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. Announcement • Sep 13
Applicad Public Company Limited Announces Resignation of Niti Nerngchamnong as Audit Committee Member and Director AppliCAD Public Company Limited announced that Dr. Niti Nerngchamnong has submitted his resignation from the position of Audit Committee Member and Director of the Company due to his responsibilities at a financial institution. The resignation will be effective from 13 September 2024 onwards. The Company would like to inform that the Nomination and Compensation Committee will recruit a qualified individual, which will present the candidate to the Board of Directors for approval. Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to ฿1.54, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 19x in the Electronic industry in Thailand. Total loss to shareholders of 48% over the past three years. Announcement • Aug 10
Applicad Public Company Limited Announces the Resignation of Isra Akrapitak as CEO, Effective October 31, 2024 Applicad Public Company Limited at the meeting of the Board of Directors held on August 7, 2024, the following matters have been acknowledged; The retirement of Dr. Isra Akrapitak, holding the position of Chief Executive Officer (CEO) of the Company, will be effective from October 31, 2024. New Risk • Aug 09
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 6.9% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 144% Cash payout ratio: 246% Earnings have declined by 4.0% per year over the past 5 years. High level of non-cash earnings (25% accrual ratio). Market cap is less than US$10m (฿324.8m market cap, or US$9.22m). Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Profit margins are more than 30% lower than last year (3.3% net profit margin). Buy Or Sell Opportunity • Aug 08
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 49% to ฿1.16. The fair value is estimated to be ฿1.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years, while earnings per share has been flat. Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: ฿0.02 (vs ฿0.04 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.02 (down from ฿0.04 in 2Q 2023). Revenue: ฿219.8m (up 2.3% from 2Q 2023). Net income: ฿6.96m (down 38% from 2Q 2023). Profit margin: 3.2% (down from 5.2% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 29% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ฿1.12, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 18x in the Electronic industry in Thailand. Total loss to shareholders of 62% over the past three years. New Risk • Aug 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿350.0m (US$9.83m) 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 133% Cash payout ratio: 123% Earnings have declined by 3.5% per year over the past 5 years. Market cap is less than US$10m (฿350.0m market cap, or US$9.83m). Minor Risk Profit margins are more than 30% lower than last year (3.8% net profit margin). Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ฿1.52, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 19x in the Electronic industry in Thailand. Total loss to shareholders of 48% over the past three years. Buy Or Sell Opportunity • Jul 01
Now 21% overvalued Over the last 90 days, the stock has fallen 27% to ฿1.87. The fair value is estimated to be ฿1.55, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.4% over the last 3 years. Earnings per share has grown by 5.7%. Announcement • Apr 24
Applicad Public Company Limited Approves Dividend Payment for Year Ended December 31, 2023, Payable on May 17, 2024 Applicad Public Company Limited approved the resolution of the dividend payment and allocation of profit for operating results ended 31 December 2023, with the majority votes of shareholders attending the meeting and having the right to vote as following details. Dividend payment to shareholders is at the rate of THB 0.15 per share, representing a total amount of THB 42,000,000. The Company will pay such dividend for the year 2023 on 17 May 2024 to shareholders who are entitled to receive the dividend on 2 May 2024 or the Record Date for dividend payment and the Company has already allocated profits as legal reserves up to the amount of legal reserves. Upcoming Dividend • Apr 23
Upcoming dividend of ฿0.15 per share Eligible shareholders must have bought the stock before 30 April 2024. Payment date: 17 May 2024. Payout ratio and cash payout ratio are on the higher end at 83% and 98% respectively. Trailing yield: 6.0%. Within top quartile of Thai dividend payers (6.0%). Higher than average of industry peers (1.2%). Declared Dividend • Feb 22
Dividend increased to ฿0.15 Dividend of ฿0.15 is 7.1% higher than last year. Ex-date: 30th April 2024 Payment date: 17th May 2024 Dividend yield will be 6.0%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by earnings (83% earnings payout ratio) but not covered by cash flows (105% cash payout ratio). The dividend has increased by an average of 11% per year over the past 4 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 8.0% to shift the payout ratio to a potentially unsustainable range, which is less than the 28% EPS decline seen over the last 5 years. New Risk • Feb 21
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 25% 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 Earnings have declined by 3.3% per year over the past 5 years. High level of non-cash earnings (25% accrual ratio). Minor Risks Dividend is not well covered by cash flows (105% cash payout ratio). Market cap is less than US$100m (฿716.8m market cap, or US$20.0m). Reported Earnings • Feb 20
Full year 2023 earnings released: EPS: ฿0.18 (vs ฿0.17 in FY 2022) Full year 2023 results: EPS: ฿0.18 (up from ฿0.17 in FY 2022). Revenue: ฿906.1m (up 2.0% from FY 2022). Net income: ฿50.7m (up 9.1% from FY 2022). Profit margin: 5.6% (up from 5.2% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Board Change • Jan 17
High number of new directors CEO, COO & Executive VP and Director Isra Akrapitak was the last director to join the board, commencing their role in 2022. Reported Earnings • Nov 07
Third quarter 2023 earnings released: EPS: ฿0.07 (vs ฿0.04 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.07 (up from ฿0.04 in 3Q 2022). Revenue: ฿230.3m (up 1.8% from 3Q 2022). Net income: ฿20.7m (up 81% from 3Q 2022). Profit margin: 9.0% (up from 5.1% in 3Q 2022). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. New Risk • Nov 06
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 6.7% 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 Earnings have declined by 6.3% per year over the past 5 years. High level of non-cash earnings (47% accrual ratio). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (฿800.8m market cap, or US$22.6m). Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ฿2.86, the stock trades at a trailing P/E ratio of 12.3x. Average trailing P/E is 18x in the Electronic industry in Thailand. Total returns to shareholders of 35% over the past three years. New Risk • Aug 07
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 47% 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 Earnings have declined by 6.3% per year over the past 5 years. High level of non-cash earnings (47% accrual ratio). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (฿812.0m market cap, or US$23.3m). Reported Earnings • Aug 05
Second quarter 2023 earnings released: EPS: ฿0.04 (vs ฿0.02 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.04 (up from ฿0.02 in 2Q 2022). Revenue: ฿216.2m (down 2.2% from 2Q 2022). Net income: ฿11.2m (up 82% from 2Q 2022). Profit margin: 5.2% (up from 2.8% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Reported Earnings • May 09
First quarter 2023 earnings released: EPS: ฿0.09 (vs ฿0.037 in 1Q 2022) First quarter 2023 results: EPS: ฿0.09 (up from ฿0.037 in 1Q 2022). Revenue: ฿243.4m (up 15% from 1Q 2022). Net income: ฿24.0m (up 131% from 1Q 2022). Profit margin: 9.9% (up from 4.9% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 26
Upcoming dividend of ฿0.14 per share at 5.0% yield Eligible shareholders must have bought the stock before 03 May 2023. Payment date: 22 May 2023. Payout ratio is on the higher end at 84% but the company is not cash flow positive. Trailing yield: 5.0%. Lower than top quartile of Thai dividend payers (6.2%). Higher than average of industry peers (0.9%). Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ฿2.88, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 22x in the Electronic industry in Thailand. Total returns to shareholders of 141% over the past three years. Reported Earnings • Feb 23
Full year 2022 earnings released: EPS: ฿0.17 (vs ฿0.21 in FY 2021) Full year 2022 results: EPS: ฿0.17 (down from ฿0.21 in FY 2021). Revenue: ฿888.3m (up 11% from FY 2021). Net income: ฿46.5m (down 21% from FY 2021). Profit margin: 5.2% (down from 7.3% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings. Reported Earnings • Aug 12
Second quarter 2022 earnings released: EPS: ฿0.02 (vs ฿0.051 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.02 (down from ฿0.051 in 2Q 2021). Revenue: ฿221.2m (up 4.3% from 2Q 2021). Net income: ฿6.12m (down 57% from 2Q 2021). Profit margin: 2.8% (down from 6.8% in 2Q 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improved over the past week After last week's 20% share price gain to ฿3.64, the stock trades at a trailing P/E ratio of 18x. Average trailing P/E is 20x in the Electronic industry in Thailand. Total returns to shareholders of 15% over the past year. Reported Earnings • May 19
First quarter 2022 earnings released: EPS: ฿0.04 (vs ฿0.043 in 1Q 2021) First quarter 2022 results: EPS: ฿0.04 (down from ฿0.043 in 1Q 2021). Revenue: ฿211.1m (up 24% from 1Q 2021). Net income: ฿10.4m (down 14% from 1Q 2021). Profit margin: 4.9% (down from 7.1% in 1Q 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • May 06
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ฿3.88, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 23x in the Electronic industry in Thailand. Total returns to shareholders of 19% over the past year. Upcoming Dividend • Apr 28
Upcoming dividend of ฿0.20 per share Eligible shareholders must have bought the stock before 05 May 2022. Payment date: 23 May 2022. Payout ratio and cash payout ratio are on the higher end at 96% and 95% respectively. Trailing yield: 4.7%. Lower than top quartile of Thai dividend payers (5.1%). Higher than average of industry peers (1.4%). Board Change • Apr 27
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. 1 experienced director. 5 highly experienced directors. Independent Director Sunee Sornchaitanasuk was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 17
Upcoming dividend of ฿0.20 per share Eligible shareholders must have bought the stock before 24 March 2022. Payment date: 23 May 2022. Payout ratio and cash payout ratio are on the higher end at 96% and 95% respectively. Trailing yield: 5.1%. Lower than top quartile of Thai dividend payers (5.2%). Higher than average of industry peers (1.5%). Reported Earnings • Feb 27
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ฿0.21 (up from ฿0.16 in FY 2020). Revenue: ฿798.9m (up 21% from FY 2020). Net income: ฿58.5m (up 30% from FY 2020). Profit margin: 7.3% (up from 6.8% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ฿3.54, the stock trades at a trailing P/E ratio of 24.5x. Average trailing P/E is 26x in the Electronic industry in Thailand. Total returns to shareholders of 50% over the past year. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment improved over the past week After last week's 23% share price gain to ฿4.44, the stock trades at a trailing P/E ratio of 30.7x. Average trailing P/E is 29x in the Electronic industry in Thailand. Total returns to shareholders of 108% over the past year. Reported Earnings • Nov 17
Third quarter 2021 earnings released: EPS ฿0.05 (vs ฿0.048 in 3Q 2020) The company reported a mediocre third quarter result with weaker profit margins, although earnings were flat and revenues improved. Third quarter 2021 results: Revenue: ฿184.5m (up 8.9% from 3Q 2020). Net income: ฿13.5m (flat on 3Q 2020). Profit margin: 7.3% (down from 7.9% in 3Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS ฿0.051 (vs ฿0.072 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: ฿212.1m (up 28% from 2Q 2020). Net income: ฿14.4m (down 29% from 2Q 2020). Profit margin: 6.8% (down from 12% in 2Q 2020). The decrease in margin was driven by higher expenses. Executive Departure • Jun 21
Independent Director Jeerawat Kulsapudom has left the company On the 14th of June, Jeerawat Kulsapudom's tenure as Independent Director ended after 8.5 years in the role. We don't have any record of a personal shareholding under Jeerawat's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 8.42 years. Reported Earnings • May 17
First quarter 2021 earnings released: EPS ฿0.04 (vs ฿0.039 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿170.2m (up 3.2% from 1Q 2020). Net income: ฿12.1m (up 12% from 1Q 2020). Profit margin: 7.1% (up from 6.5% in 1Q 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • May 12
Investor sentiment improved over the past week After last week's 18% share price gain to ฿3.90, the stock trades at a trailing P/E ratio of 24.3x. Average trailing P/E is 27x in the Electronic industry in Thailand. Total returns to shareholders of 155% over the past year. Upcoming Dividend • Apr 20
Upcoming dividend of ฿0.15 per share Eligible shareholders must have bought the stock before 27 April 2021. Payment date: 14 May 2021. Trailing yield: 4.0%. Lower than top quartile of Thai dividend payers (5.0%). Higher than average of industry peers (1.2%). Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improved over the past week After last week's 19% share price gain to ฿2.98, the stock trades at a trailing P/E ratio of 18.5x, up from the previous P/E ratio of 15.6x. Average P/E is 31x in the Electronic industry in Thailand. Total returns to shareholders over the past year are 137%. Reported Earnings • Feb 28
Full year 2020 earnings released: EPS ฿0.16 (vs ฿0.28 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿658.1m (down 11% from FY 2019). Net income: ฿45.0m (down 22% from FY 2019). Profit margin: 6.8% (down from 7.8% in FY 2019). The decrease in margin was driven by lower revenue. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improved over the past week After last week's 26% share price gain to ฿3.22, the stock is trading at a trailing P/E ratio of 16.5x, up from the previous P/E ratio of 13.1x. This compares to an average P/E of 25x in the Electronic industry in Thailand. Total returns to shareholders over the past year are 73%. Is New 90 Day High Low • Feb 08
New 90-day high: ฿2.96 The company is up 29% from its price of ฿2.30 on 10 November 2020. The Thai market is up 17% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 95% over the same period. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improved over the past week After last week's 16% share price gain to ฿2.82, the stock is trading at a trailing P/E ratio of 14.5x, up from the previous P/E ratio of 12.5x. This compares to an average P/E of 23x in the Electronic industry in Thailand. Total returns to shareholders over the past year are 40%. Is New 90 Day High Low • Jan 11
New 90-day high: ฿2.86 The company is up 7.0% from its price of ฿2.68 on 12 October 2020. The Thai market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 162% over the same period. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improved over the past week After last week's 25% share price gain to ฿2.82, the stock is trading at a trailing P/E ratio of 14.5x, up from the previous P/E ratio of 11.6x. This compares to an average P/E of 21x in the Electronic industry in Thailand. Total returns to shareholders over the past year are 43%. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 26% share price gain to ฿2.52, the stock is trading at a trailing P/E ratio of 12.9x, up from the previous P/E ratio of 10.3x. This compares to an average P/E of 20x in the Electronic industry in Thailand. Total returns to shareholders over the past year are 22%. Is New 90 Day High Low • Dec 15
New 90-day low: ฿2.14 The company is down 13% from its price of ฿2.46 on 15 September 2020. The Thai market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 105% over the same period. Reported Earnings • Nov 15
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: ฿169.4m (down 28% from 3Q 2019). Net income: ฿13.5m (down 53% from 3Q 2019). Profit margin: 7.9% (down from 12% in 3Q 2019). The decrease in margin was driven by lower revenue. Is New 90 Day High Low • Oct 14
New 90-day high: ฿2.84 The company is up 63% from its price of ฿1.74 on 16 July 2020. The Thai market is down 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 83% over the same period. Is New 90 Day High Low • Sep 25
New 90-day high: ฿2.66 The company is up 68% from its price of ฿1.58 on 26 June 2020. The Thai market is down 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 97% over the same period.