How does III's PE Ratio compare to its peers?

III is good value based on its Price-To-Earnings Ratio (6.2x) compared to the peer average (15x).

How does III's PE Ratio compare vs other companies in the Asian Logistics Industry?

III is good value based on its Price-To-Earnings Ratio (6.2x) compared to the Asian Logistics industry average (17.6x).

What is III's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

III is good value based on its Price-To-Earnings Ratio (6.2x) compared to the estimated Fair Price-To-Earnings Ratio (11.9x).

What is the Fair Price of III when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

III (THB5.7) is trading below our estimate of [[fair value]] (THB8.2)

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

Triple i Logistics (SET:III) - Stock Price, News & Analysis

III Stock Overview

Provides domestic and international freight forwarding, and integrated logistics services in Thailand and internationally. More details

III fundamental analysis
Snowflake Score
Valuation	5/6
Future Growth	0/6
Past Performance	1/6
Financial Health	3/6
Dividends	2/6

Rewards

Trading at 30.5% below our estimate of its fair value

Trading at good value compared to peers and industry

Risk Analysis

Earnings are forecast to decline by an average of 3.6% per year for the next 3 years

Large one-off items impacting financial results

Dividend of 4.21% is not well covered by free cash flows

Profit margins (33.5%) are lower than last year (47.9%)

Triple i Logistics Public Company Limited Competitors

Wice Logistics

SET:WICE

฿3.3b

Sonic Interfreight

SET:SONIC

฿1.4b

Asia Network International

SET:ANI

฿7.4b

Leo Global Logistics

SET:LEO

฿1.2b

Price History & Performance

Summary of all time highs, changes and price drops for Triple i Logistics
Historical stock prices
Current Share Price	฿5.70
52 Week High	฿10.70
52 Week Low	฿4.96
Beta	0.76
11 Month Change	-3.39%
3 Month Change	-3.39%
1 Year Change	-46.23%
33 Year Change	-55.81%
5 Year Change	10.68%
Change since IPO	-24.50%

Recent updates

Shareholder Returns

	III	TH Logistics	TH Market
7D	-1.7%	-3.4%	0.8%
1Y	-46.2%	-31.0%	3.1%

Return vs Industry: III underperformed the TH Logistics industry which returned -31% over the past year.

Return vs Market: III underperformed the TH Market which returned 3.1% over the past year.

Price Volatility

Is III's price volatile compared to industry and market?
III volatility
III Average Weekly Movement	5.2%
Logistics Industry Average Movement	5.5%
Market Average Movement	4.8%
10% most volatile stocks in TH Market	10.3%
10% least volatile stocks in TH Market	2.4%

Stable Share Price: III has not had significant price volatility in the past 3 months compared to the TH market.

Volatility Over Time: III's weekly volatility (5%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2008	n/a	Tipp Dalal	www.iii-logistics.com

Triple i Logistics Public Company Limited, together with its subsidiaries, provides domestic and international freight forwarding, and integrated logistics services in Thailand and internationally. It operates through Air Freight; Sea and In-Land Freight; Logistics Management; Chemical and Hazardous Goods Logistics; and Other Management Services segments. The company offers air freight services, such as wholesale air freight forwarding, general sales agency for airlines, and airport cargo terminal services; sea freight and inland transportation services, including shipping line agency, less than container load, and inland container transport services; logistics management services comprising international logistics, and warehouse and distribution services; and chemical and specialty logistics services, such as hazardous and dangerous goods logistics integrating, and dangerous goods packaging solutions.

Triple i Logistics Public Company Limited Fundamentals Summary

How do Triple i Logistics's earnings and revenue compare to its market cap?
III fundamental statistics
Market cap	฿4.38b
Earnings (TTM)	฿725.45m
Revenue (TTM)	฿2.17b

6.2x

P/E Ratio

2.1x

P/S Ratio

Is III overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
III income statement (TTM)
Revenue	฿2.17b
Cost of Revenue	฿1.77b
Gross Profit	฿395.94m
Other Expenses	-฿329.50m
Earnings	฿725.45m

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	0.93
Gross Margin	18.29%
Net Profit Margin	33.51%
Debt/Equity Ratio	14.7%

How did III perform over the long term?

See historical performance and comparison

Dividends

4.2%

Current Dividend Yield

32%

Payout Ratio

III Stock Overview

Rewards

Risk Analysis

Triple i Logistics Public Company Limited Competitors

SET:WICE

฿3.3b

SET:SONIC

฿1.4b

SET:ANI

฿7.4b

SET:LEO

฿1.2b

Price History & Performance

Recent News & Updates

Third quarter 2024 earnings: EPS in line with analyst expectations despite revenue beat

Consensus revenue estimates increase by 13%, EPS downgraded

First half dividend reduced to ฿0.12

Second quarter 2024 earnings released: EPS: ฿0.13 (vs ฿0.20 in 2Q 2023)

Triple I Logistics Public Company Limited Announces Interim Cash Dividend for Operating Period from January 1, 2024 to June 30, 2024, Payable on September 5, 2024

New minor risk - Share price stability

Recent updates

Third quarter 2024 earnings: EPS in line with analyst expectations despite revenue beat

Consensus revenue estimates increase by 13%, EPS downgraded

First half dividend reduced to ฿0.12

Second quarter 2024 earnings released: EPS: ฿0.13 (vs ฿0.20 in 2Q 2023)

Triple I Logistics Public Company Limited Announces Interim Cash Dividend for Operating Period from January 1, 2024 to June 30, 2024, Payable on September 5, 2024

New minor risk - Share price stability

Investor sentiment deteriorates as stock falls 15%

First quarter 2024 earnings released: EPS: ฿0.15 (vs ฿0.20 in 1Q 2023)

Triple I Logistics Public Company Limited Announces Appointment of Directors of Sub-Committees

Upcoming dividend of ฿0.18 per share

Consensus revenue estimates fall by 21%

Price target decreased by 7.3% to ฿13.22

Final dividend reduced to ฿0.18

Triple i Logistics Public Company Limited, Annual General Meeting, Apr 23, 2024

Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind

Triple i Logistics Public Company Limited Proposes Dividend for the Year 2023, Payable on May 16, 2024

Price target decreased by 8.1% to ฿13.92

Third quarter 2023 earnings released: EPS: ฿0.20 (vs ฿0.23 in 3Q 2022)

Now 24% undervalued after recent price drop

Upcoming dividend of ฿0.20 per share at 4.6% yield

Triple i Logistics Public Company Limited (SET:III) announces an Equity Buyback for 25,000,000 shares, representing 3.1% for THB 300 million.

New major risk - Earnings quality

Second quarter 2023 earnings: EPS and revenues miss analyst expectations

New major risk - Revenue and earnings growth

Price target decreased by 12% to ฿15.10

First quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind

Consensus revenue estimates decrease by 16%

Upcoming dividend of ฿0.40 per share at 4.0% yield

Full year 2022 earnings released: EPS: ฿1.25 (vs ฿0.62 in FY 2021)

Less than half of directors are independent

Third quarter 2022 earnings released: EPS: ฿0.23 (vs ฿0.16 in 3Q 2021)

Price target decreased to ฿18.30

Now 20% undervalued after recent price drop

Upcoming dividend of ฿0.15 per share

Triple i Logistics Public Company Limited Announces Interim Dividend For Operating Period from 01 January 2022 to 30 June 2022, Payable on 09 September 2022

Second quarter 2022 earnings: EPS and revenues miss analyst expectations

Now 20% undervalued after recent price drop

Now 20% undervalued after recent price drop

First quarter 2022 earnings: EPS and revenues miss analyst expectations

Less than half of directors are independent

Triple I Logistics Public Company Limited Approves Payment of Dividend for the Year 2021, Payable on May 17, 2022

Upcoming dividend of ฿0.30 per share

Triple i Logistics Public Company Limited, Annual General Meeting, Apr 19, 2022

Full year 2021 earnings: EPS and revenues exceed analyst expectations

Triple i Logistics Public Company Limited Proposes Annual Dividend Payment for the Year 2021, Payable on 17 May 2022

Triple i Logistics Public Company Limited Announces Resignation of Teeranit Isarangkul Na Ayudhaya as Director

Third quarter 2021 earnings released: EPS ฿0.17 (vs ฿0.096 in 3Q 2020)

Upcoming dividend of ฿0.10 per share

Price target increased to ฿14.48

Consensus revenue estimates increase to ฿2.53b

Price target increased to ฿11.47

Triple i Logistics Public Company Limited (SET:III) entered into information memorandum to acquire additional 8% stake in A.T.P. Friend Services Co., Ltd. from Thaweechok Saetang, Patcharatorn Thewarit, Satheranat Lapkaiwan and Ekkalak Pintafai for THB 28 million.

Second quarter 2021 earnings released: EPS ฿0.14 (vs ฿0.057 in 2Q 2020)

Investor sentiment improved over the past week

Price target increased to ฿9.58

Consensus revenue estimates increase to ฿2.14b

First quarter 2021 earnings released: EPS ฿0.13 (vs ฿0.037 in 1Q 2020)

Upcoming dividend of ฿0.10 per share

Price target increased to ฿8.20