Reported Earnings • May 19
First quarter 2026 earnings released: EPS: ฿0.10 (vs ฿0.08 in 1Q 2025) First quarter 2026 results: EPS: ฿0.10 (up from ฿0.08 in 1Q 2025). Revenue: ฿476.0m (up 11% from 1Q 2025). Net income: ฿123.7m (up 32% from 1Q 2025). Profit margin: 26% (up from 22% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. 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 7.1% 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: Minor Risks Dividend is not well covered by earnings (100% payout ratio). Share price has been volatile over the past 3 months (7.1% average weekly change). Upcoming Dividend • Apr 28
Upcoming dividend of ฿0.50 per share Eligible shareholders must have bought the stock before 05 May 2026. Payment date: 22 May 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 12%. Within top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (1.8%). Reported Earnings • Feb 21
Full year 2025 earnings released: EPS: ฿0.50 (vs ฿0.40 in FY 2024) Full year 2025 results: EPS: ฿0.50 (up from ฿0.40 in FY 2024). Revenue: ฿2.09b (up 22% from FY 2024). Net income: ฿617.8m (up 24% from FY 2024). Profit margin: 30% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Declared Dividend • Feb 21
Dividend increased to ฿0.50 Dividend of ฿0.50 is 19% higher than last year. Ex-date: 5th May 2026 Payment date: 22nd May 2026 Dividend yield will be 14%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is not covered by earnings (121% earnings payout ratio). However, it is covered by cash flows (56% cash payout ratio). The dividend has increased by an average of 3.4% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 34% to bring the payout ratio under control, which is more than the 22% EPS growth achieved over the last 5 years. Board Change • Nov 17
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Chaiyong Ratanacharoensiri was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 08
Third quarter 2025 earnings released: EPS: ฿0.08 (vs ฿0.08 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.08 (in line with 3Q 2024). Revenue: ฿451.2m (up 13% from 3Q 2024). Net income: ฿99.6m (up 1.1% from 3Q 2024). Profit margin: 22% (down from 25% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 08
Second quarter 2025 earnings released: EPS: ฿0.08 (vs ฿0.081 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.08 (down from ฿0.081 in 2Q 2024). Revenue: ฿444.4m (up 7.4% from 2Q 2024). Net income: ฿97.3m (down 3.7% from 2Q 2024). Profit margin: 22% (down from 24% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • May 09
First quarter 2025 earnings released: EPS: ฿0.08 (vs ฿0.13 in 1Q 2024) First quarter 2025 results: EPS: ฿0.08 (down from ฿0.13 in 1Q 2024). Revenue: ฿429.4m (flat on 1Q 2024). Net income: ฿93.6m (down 41% from 1Q 2024). Profit margin: 22% (down from 37% in 1Q 2024). Revenue is forecast to grow 1.4% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Infrastructure industry in Thailand. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 29
Upcoming dividend of ฿0.42 per share Eligible shareholders must have bought the stock before 06 May 2025. Payment date: 23 May 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 12%. Within top quartile of Thai dividend payers (7.9%). Higher than average of industry peers (2.5%). Declared Dividend • Feb 22
Dividend increased to ฿0.42 Dividend of ฿0.42 is 17% higher than last year. Ex-date: 6th May 2025 Payment date: 23rd May 2025 Dividend yield will be 12%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by both earnings (85% earnings payout ratio) and cash flows (51% cash payout ratio). The dividend has increased by an average of 1.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 2.5% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 21
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: ฿0.40 (down from ฿0.40 in FY 2023). Revenue: ฿1.72b (down 2.7% from FY 2023). Net income: ฿498.2m (flat on FY 2023). Profit margin: 29% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.1%. Revenue is forecast to grow 1.0% p.a. on average during the next 2 years, compared to a 8.1% growth forecast for the Infrastructure industry in Thailand. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. New Risk • Nov 27
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ฿3.47b (US$100.0m) This is considered a minor 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: 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 (฿3.47b market cap, or US$100.0m). Reported Earnings • Nov 14
Third quarter 2024 earnings released: EPS: ฿0.08 (vs ฿0.098 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.08 (down from ฿0.098 in 3Q 2023). Revenue: ฿411.5m (down 5.5% from 3Q 2023). Net income: ฿98.5m (down 20% from 3Q 2023). Profit margin: 24% (down from 28% in 3Q 2023). Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Infrastructure industry in Thailand. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Major Estimate Revision • Nov 13
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿1.74b to ฿1.68b. EPS estimate also fell from ฿0.42 per share to ฿0.37 per share. Net income forecast to shrink 12% next year vs 15% growth forecast for Infrastructure industry in Thailand . Consensus price target down from ฿3.90 to ฿3.20. Share price was steady at ฿3.00 over the past week. New Risk • Nov 12
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Sep 18
Namyong Terminal Public Company Limited Announces Resignation of Pongthep Leungsuwan as Executive Director and Chief Administrative Officer Namyong Terminal Public Company Limited announced that the resignation of Mr. Pongthep Leungsuwan from the position of the Company's director, the Executive director and Chief Administrative Officer together with other related positions of the Company. The resignation is effective from 17 September 2024 onward. The Nomination, Compensation and Corporate Governance Committee will consider a new director to replace the vacancy. The Company will update once there is an appointment of a new director. Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: ฿0.08 (vs ฿0.09 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.08 (down from ฿0.09 in 2Q 2023). Revenue: ฿413.9m (down 2.6% from 2Q 2023). Net income: ฿101.0m (down 9.7% from 2Q 2023). Profit margin: 24% (down from 26% in 2Q 2023). Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Infrastructure industry in Thailand. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. New Risk • Aug 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ฿3.50b (US$99.2m) This is considered a minor 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 Risk Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. 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 (฿3.50b market cap, or US$99.2m). Price Target Changed • Jul 08
Price target decreased by 26% to ฿3.90 Down from ฿5.30, the current price target is provided by 1 analyst. New target price is 11% above last closing price of ฿3.52. Stock is down 14% over the past year. The company is forecast to post earnings per share of ฿0.42 for next year compared to ฿0.40 last year. New Risk • Jul 08
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • May 08
First quarter 2024 earnings released: EPS: ฿0.13 (vs ฿0.08 in 1Q 2023) First quarter 2024 results: EPS: ฿0.13. Revenue: ฿429.4k (down 100% from 1Q 2023). Net income: ฿158.7k (down 100% from 1Q 2023). Profit margin: 37% (up from 24% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Infrastructure industry in Thailand. Upcoming Dividend • Apr 20
Upcoming dividend of ฿0.36 per share Eligible shareholders must have bought the stock before 26 April 2024. Payment date: 17 May 2024. Payout ratio is on the higher end at 89%, however this is supported by cash flows. Trailing yield: 7.7%. Within top quartile of Thai dividend payers (5.9%). Higher than average of industry peers (0.9%). Price Target Changed • Mar 14
Price target increased by 8.2% to ฿5.30 Up from ฿4.90, the current price target is provided by 1 analyst. New target price is 13% above last closing price of ฿4.68. Stock is up 34% over the past year. The company is forecast to post earnings per share of ฿0.43 for next year compared to ฿0.40 last year. Major Estimate Revision • Mar 14
Consensus EPS estimates increase by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from ฿1.81b to ฿1.83b. EPS estimate increased from ฿0.39 to ฿0.43 per share. Net income forecast to grow 7.0% next year vs 15% growth forecast for Infrastructure industry in Thailand. Consensus price target up from ฿4.90 to ฿5.30. Share price was steady at ฿4.68 over the past week. Declared Dividend • Feb 24
Dividend increased to ฿0.36 Dividend of ฿0.36 is 64% higher than last year. Ex-date: 26th April 2024 Payment date: 17th May 2024 Dividend yield will be 7.9%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by both earnings (64% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 4.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 23
Namyong Terminal Public Company Limited, Annual General Meeting, Apr 19, 2024 Namyong Terminal Public Company Limited, Annual General Meeting, Apr 19, 2024, at 09:30 SE Asia Standard Time. Location: Cattleya Room, Rama Gardens, no. 9/9 Vibhavadi Rangsit Road, Laksi, Bangkok Thailand Agenda: To consider and certify Minutes of the 2023 Annual General Meeting of Shareholders which was held on Tuesday April 25, 2023; to acknowledge the Company's operational results for the fiscal year ended December 31, 2023; to consider and approve the Company and its subsidiaries' report and consolidated financial statements for the fiscal year ended December 31, 2023; to consider and approve distribution of dividend payment derived from operational results for the year 2023; to consider and approve the directors' remuneration for the year 2024; to consider and approve the appointment of auditors and to fix audit fee for the year 2024; to consider and approve an amendment to the Company's business objectives and Clause 3 of the Memorandum of Association, Company's objectives; and to consider other business. New Risk • Feb 23
New major risk - Revenue and earnings growth Earnings have declined by 7.8% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 7.8% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Feb 22
Namyong Terminal Public Company Limited Proposes Dividend Payment from Operational Results for the Fiscal Year Ended 31 December 2023, Payable on 17 May 2024 Namyong Terminal Public Company Limited at its the Board of Directors' Meeting held on 22 February 2024, approved to propose to 2024 AGM for consideration and approval the distribution of annual dividend payment from operational results for the fiscal year ended 31 December 2023 at THB 0.36 per share based on the par value at THB 0.50 per share of 1,240,000,000 outstanding shares of the Company, totaling THB 446,400,000 which was derived from net profit in the amount of THB 458,635,747as stated in the Company's separate financial statements which is in line with the Company's dividend payment policy. As of 31 December 2023, the Company's legal reserve was to THB 62,000,000 which fulfills requirements to set aside legal reserve for 10% of the registered capital. No legal reserve needs to be set up from 2023 operational results. In this regard, the date for determining the names of shareholders who shall be entitled to receive dividend payment (Record Date) will be on 29 April 2024. The dividend payment date will be made on 17 May 2024. Major Estimate Revision • Feb 10
Consensus EPS estimates increase by 23% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from ฿1.66b to ฿1.72b. EPS estimate increased from ฿0.31 to ฿0.38 per share. Net income forecast to grow 13% next year vs 21% growth forecast for Infrastructure industry in Thailand. Consensus price target broadly unchanged at ฿4.90. Share price was steady at ฿4.28 over the past week. Buy Or Sell Opportunity • Feb 05
Now 22% undervalued Over the last 90 days, the stock has risen 6.8% to ฿4.08. The fair value is estimated to be ฿5.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 2.8% in 2 years. Earnings are forecast to decline by 4.1% in the next 2 years. Buy Or Sell Opportunity • Jan 19
Now 20% undervalued Over the last 90 days, the stock has risen 9.9% to ฿4.20. The fair value is estimated to be ฿5.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 2.8% in 2 years. Earnings are forecast to decline by 4.1% in the next 2 years. Buying Opportunity • Jan 17
Now 20% undervalued Over the last 90 days, the stock is up 6.6%. The fair value is estimated to be ฿5.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 2.8% in 2 years. Earnings is forecast to decline by 4.1% in the next 2 years. Reported Earnings • Nov 11
Third quarter 2023 earnings released: EPS: ฿0.10 (vs ฿0.05 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.10 (up from ฿0.05 in 3Q 2022). Revenue: ฿435.5m (up 17% from 3Q 2022). Net income: ฿123.3m (up 93% from 3Q 2022). Profit margin: 28% (up from 17% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Infrastructure industry in Asia. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Nov 10
Now 23% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be ฿4.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.1% over the last 3 years. Earnings per share has grown by 7.0%. Revenue is forecast to grow by 6.2% in 2 years. Earnings is forecast to grow by 10% in the next 2 years. Buying Opportunity • Oct 18
Now 22% undervalued Over the last 90 days, the stock is up 3.7%. The fair value is estimated to be ฿4.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.1% over the last 3 years. Earnings per share has grown by 7.0%. Revenue is forecast to grow by 6.2% in 2 years. Earnings is forecast to grow by 10% in the next 2 years. Major Estimate Revision • Aug 23
Consensus EPS estimates increase by 19% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from ฿1.54b to ฿1.57b. EPS estimate increased from ฿0.215 to ฿0.255 per share. Net income forecast to shrink 13% next year vs 17% growth forecast for Infrastructure industry in Thailand . Consensus price target up from ฿4.40 to ฿4.75. Share price rose 2.0% to ฿4.06 over the past week. Price Target Changed • Aug 22
Price target increased by 12% to ฿4.75 Up from ฿4.26, the current price target is an average from 2 analysts. New target price is 15% above last closing price of ฿4.14. Stock is up 13% over the past year. The company is forecast to post earnings per share of ฿0.26 for next year compared to ฿0.20 last year. New Risk • Aug 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 4.1% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: ฿0.09 (vs ฿0.034 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.09 (up from ฿0.034 in 2Q 2022). Revenue: ฿424.9m (up 34% from 2Q 2022). Net income: ฿111.9m (up 167% from 2Q 2022). Profit margin: 26% (up from 13% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Infrastructure industry in Asia. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 8% per year. Reported Earnings • May 15
First quarter 2023 earnings released: EPS: ฿0.08 (vs ฿0.04 in 1Q 2022) First quarter 2023 results: EPS: ฿0.08 (up from ฿0.04 in 1Q 2022). Revenue: ฿434.9m (up 24% from 1Q 2022). Net income: ฿105.1m (up 96% from 1Q 2022). Profit margin: 24% (up from 15% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Infrastructure industry in Asia. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 03
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ฿3.34, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Infrastructure industry in Asia. Total returns to shareholders of 25% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿5.21 per share. Upcoming Dividend • Apr 26
Upcoming dividend of ฿0.22 per share at 5.4% yield Eligible shareholders must have bought the stock before 03 May 2023. Payment date: 25 May 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.4%. Lower than top quartile of Thai dividend payers (6.2%). Higher than average of industry peers (3.5%). Board Change • Nov 16
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. 3 experienced directors. 9 highly experienced directors. Advisor of the Board of Directors Khemchai Chutiwongse was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Nov 02
Namyong Terminal Public Company Limited Announces Demise of Mr. Chaisawasd Kittipornpaiboon, Independent Director Namyong Terminal Public Company Limited informed that Mr. Chaisawasd Kittipornpaiboon, Independent director, has passed away on 31 October 2022. Price Target Changed • Aug 02
Price target decreased to ฿4.33 Down from ฿4.78, the current price target is an average from 4 analysts. New target price is 14% above last closing price of ฿3.80. Stock is down 27% over the past year. The company is forecast to post earnings per share of ฿0.20 for next year compared to ฿0.20 last year. Major Estimate Revision • May 16
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from ฿0.24 to ฿0.21. Revenue forecast unchanged from ฿1.41b at last update. Net income forecast to grow 40% next year vs 12% growth forecast for Infrastructure industry in Thailand. Consensus price target down from ฿5.30 to ฿4.98. Share price fell 9.4% to ฿4.42 over the past week. Price Target Changed • May 15
Price target decreased to ฿4.98 Down from ฿5.35, the current price target is an average from 4 analysts. New target price is 13% above last closing price of ฿4.42. Stock is up 8.9% over the past year. The company is forecast to post earnings per share of ฿0.21 for next year compared to ฿0.20 last year. Upcoming Dividend • Apr 28
Upcoming dividend of ฿0.16 per share Eligible shareholders must have bought the stock before 05 May 2022. Payment date: 26 May 2022. Payout ratio is on the higher end at 82%, however this is supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Thai dividend payers (5.1%). Lower than average of industry peers (3.9%). 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. 5 experienced directors. 7 highly experienced directors. Independent Director Sunee Sornchaitanasuk was the last director to join the board, commencing their role in 2016. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Mar 31
Namyong Terminal Public Company Limited, Annual General Meeting, Apr 26, 2022 Namyong Terminal Public Company Limited, Annual General Meeting, Apr 26, 2022, at 07:00 Coordinated Universal Time. Location: 1168/52 (Lumpini Tower 19th floor) Rama IV Road Thungmahamek, Sathorn Bangkok Thailand Announcement • Feb 22
Namyong Terminal Public Company Limited Proposes Distribution of Dividend Payment Derived from Operational Results for the Year 2021, Payable on May 26, 2022 Namyong Terminal Public Company Limited held the board of directors' meeting No. 2/2022 on 21 February 2022, approved to propose to 2022 annual general meeting to be held on 26 April 2022 for consideration and approval the distribution of annual dividend payment from operational results for the fiscal year ended 31 December 2021 at THB 0.16 per share based on the par value at THB 0.50 per share of 1,240,000,000 outstanding shares of the company, totaling THB 198,400,000 which was derived from net profit in the amount of THB 204,937,479 as stated in the Company's separate financial statements which is in line with the Company's dividend payment policy. In this regard, the date for determining the names of shareholders who shall be entitled to receive dividend payment (Record Date) will be on 6 May 2022. The dividend payment date will be made on 26 May 2022. Reported Earnings • Feb 22
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: ฿0.20 (up from ฿0.18 in FY 2020). Revenue: ฿1.35b (up 13% from FY 2020). Net income: ฿242.6m (up 6.2% from FY 2020). Profit margin: 18% (down from 19% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) missed analyst estimates by 3.6%. Over the next year, revenue is forecast to grow 6.9%, compared to a 219% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS ฿0.03 (vs ฿0.02 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿305.7m (up 13% from 3Q 2020). Net income: ฿38.1m (up 72% from 3Q 2020). Profit margin: 13% (up from 8.2% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ฿4.24, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Infrastructure industry in Asia. Total returns to shareholders of 7.7% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿7.05 per share. Reported Earnings • Aug 11
Second quarter 2021 earnings released: EPS ฿0.05 (vs ฿0.03 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿326.4m (up 36% from 2Q 2020). Net income: ฿57.7m (up 57% from 2Q 2020). Profit margin: 18% (up from 15% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 16% share price gain to ฿4.68, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 13x in the Infrastructure industry in Asia. Total returns to shareholders of 10% over the past three years. Reported Earnings • May 15
First quarter 2021 earnings released: EPS ฿0.07 (vs ฿0.06 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: ฿341.5m (down 9.4% from 1Q 2020). Net income: ฿85.7m (up 8.8% from 1Q 2020). Profit margin: 25% (up from 21% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Apr 30
Upcoming dividend of ฿0.20 per share Eligible shareholders must have bought the stock before 07 May 2021. Payment date: 27 May 2021. Trailing yield: 4.6%. Lower than top quartile of Thai dividend payers (4.8%). Higher than average of industry peers (0.5%). Announcement • Apr 29
Namyong Terminal Public Company Limited Approves the Payment of Dividend for the Year 2020, Payable on 27 May 2021 Namyong Terminal Public Company Limited at its AGM held on April 28, 2021, approved the distribution of dividend payment derived from operational results for the year ended 2020 at the amount of THB 248,000,000 or equivalent to the rate of THB 0.20 per share from the par value at THB 0.50 per share which will be subject to the withholding tax as prescribed by law. As of 31 December 2020, Company's legal reserve was to THB 62,000,000 which fulfills requirements to set aside legal reserve for 10% of the registered capital. No legal reserve needs to be set up from 2020 operational results. In this regard, the date for determining the names of shareholders who shall be entitled to such dividend payment (Record Date) would be on 10 May 2021 and the dividend payment date shall be on 27 May 2021. Major Estimate Revision • Mar 29
Consensus EPS estimates fall to ฿0.24 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from ฿1.31b to ฿1.28b. EPS estimate also fell from ฿0.27 to ฿0.24. Net income forecast to grow 33% next year vs 28% growth forecast for Infrastructure industry in Thailand. Consensus price target up from ฿4.40 to ฿5.02. Share price rose 4.0% to ฿4.20 over the past week. Price Target Changed • Mar 28
Price target increased to ฿5.02 Up from ฿4.40, the current price target is an average from 3 analysts. New target price is 20% above last closing price of ฿4.18. Stock is up 58% over the past year. Reported Earnings • Feb 20
Full year 2020 earnings released: EPS ฿0.18 (vs ฿0.30 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿1.20b (down 17% from FY 2019). Net income: ฿228.6m (down 39% from FY 2019). Profit margin: 19% (down from 26% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year and the company’s share price has also fallen by 16% per year. Analyst Estimate Surprise Post Earnings • Feb 20
Revenue beats expectations Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 9.9%, compared to a 21% growth forecast for the Infrastructure industry in Thailand. Announcement • Feb 20
Namyong Terminal Public Company Limited, Annual General Meeting, Apr 28, 2021 Namyong Terminal Public Company Limited, Annual General Meeting, Apr 28, 2021, at 15:00 SE Asia Standard Time. Location: at Grand Ballroom 1-2, Rama Gardens no. 9/9 Vibhavadi Rangsit Road, Laksi Bangkok Thailand Agenda: To consider and certify minutes of the 2020 annual general meeting of shareholders which was held on 9 October 2020; to acknowledge the company's operational results for the fiscal year ended 31 December 2020; to consider and approve the company and its subsidiary's report and consolidated financial statements for the fiscal year ended 31 December 2020; to consider and approve distribution of dividend payment derived from operational results for the year 2020; to consider and approve the election of the directors who are due to retire by rotation; to consider and approve the directors' remuneration for the year 2021; to consider and approve the appointment of auditors and to fix audit fee for the year 2021; and to consider other business (if any). Is New 90 Day High Low • Feb 20
New 90-day high: ฿3.80 The company is up 14% from its price of ฿3.34 on 20 November 2020. The Thai market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Infrastructure industry, which is down 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿6.08 per share. Price Target Changed • Jan 23
Price target raised to ฿4.45 Up from ฿4.02, the current price target is an average from 3 analysts. The new target price is 26% above the current share price of ฿3.54. As of last close, the stock is down 6.3% over the past year. Major Estimate Revision • Jan 23
Analysts increase revenue estimates to ฿1.18b The 2020 consensus revenue estimate increased from ฿1.06b. Earning per share (EPS) estimate also increased from ฿0.16 to ฿0.18 for the same period. Net income is expected to grow by 29% next year compared to 22% growth forecast for the Infrastructure industry in Thailand. The consensus price target increased from ฿4.02 to ฿4.45. Share price is down by 2.7% to ฿3.54 over the past week. Valuation Update With 7 Day Price Move • Nov 26
Market bids up stock over the past week After last week's 17% share price gain to ฿3.78, the stock is trading at a trailing P/E ratio of 21.8x, up from the previous P/E ratio of 18.7x. This compares to an average P/E of 17x in the Infrastructure industry in Asia. Total return to shareholders over the past three years is a loss of 23%. Is New 90 Day High Low • Nov 25
New 90-day high: ฿3.60 The company is up 21% from its price of ฿2.98 on 27 August 2020. The Thai market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Infrastructure industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿3.66 per share. Major Estimate Revision • Nov 16
Analysts update estimates The 2020 consensus revenue estimate increased from ฿990.0m to ฿1.06b. Earnings per share (EPS) estimate was lowered from ฿0.21 to ฿0.16 for the same period. Net income is expected to grow by 20% next year compared to 20% growth forecast for the Infrastructure industry in Thailand. The consensus price target was lowered from ฿3.92 to ฿3.68. Share price is down by 5.9% to ฿3.20 over the past week. Reported Earnings • Nov 11
Third quarter 2020 earnings released: EPS ฿0.02 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿274.2m (down 22% from 3Q 2019). Net income: ฿22.2m (down 76% from 3Q 2019). Profit margin: 8.1% (down from 27% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Oct 07
New 90-day high: ฿3.28 The company is up 9.0% from its price of ฿3.02 on 09 July 2020. The Thai market is down 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Infrastructure industry, which is down 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿2.92 per share. Announcement • Aug 14
Namyong Terminal Public Company Limited (SET:NYT) acquired a 51% stake in Seahorse Ferries Co., Ltd. Namyong Terminal Public Company Limited (SET:NYT) acquired a 51% stake in Seahorse Ferries Co., Ltd. on July 15, 2020. As part of the transaction, Namyong Terminal Public Company Limited use its internal source of fund for the payment of shares. Post completion, Namyong Terminal Public Company Limited hold 510,000 shares in Seahorse Ferries Co., Ltd. Board of directors of Namyong Terminal Public Company Limited approved the transaction.
Namyong Terminal Public Company Limited (SET:NYT) completed the acquisition of a 51% stake in Seahorse Ferries Co., Ltd. on July 15, 2020. 
