New Risk • May 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 38% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 255% Cash payout ratio: 118% Market cap is less than US$10m (฿270.3m market cap, or US$8.28m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.9% net profit margin). New Risk • Mar 01
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 278% Dividend yield: 17% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (278% cash payout ratio). Market cap is less than US$100m (฿359.3m market cap, or US$11.6m). Declared Dividend • Mar 01
Dividend of ฿0.085 announced Shareholders will receive a dividend of ฿0.085. Ex-date: 16th March 2026 Payment date: 29th May 2026 Dividend yield will be 7.3%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is covered by earnings (50% earnings payout ratio) but not covered by cash flows (278% cash payout ratio). The dividend has increased by an average of 35% per year over the past 2 years and payments have been stable during that time. 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. Tillkännagivande • Feb 28
Stone One Public Company Limited announces Annual dividend, payable on May 29, 2026 Stone One Public Company Limited announced Annual dividend of THB 0.0850 per share payable on May 29, 2026, ex-date on March 16, 2026 and record date on March 17, 2026. New Risk • Jan 14
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿313.3m (US$9.96m) 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. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 16
Third quarter 2025 earnings released: EPS: ฿0.03 (vs ฿0.062 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.03 (down from ฿0.062 in 3Q 2024). Revenue: ฿97.6m (down 14% from 3Q 2024). Net income: ฿9.58m (down 50% from 3Q 2024). Profit margin: 9.8% (down from 17% in 3Q 2024). The decrease in margin was driven by lower revenue. Reported Earnings • Aug 20
Second quarter 2025 earnings released: EPS: ฿0.012 (vs ฿0.05 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.012 (down from ฿0.05 in 2Q 2024). Revenue: ฿81.8m (down 17% from 2Q 2024). Net income: ฿3.76m (down 74% from 2Q 2024). Profit margin: 4.6% (down from 15% in 2Q 2024). The decrease in margin was driven by lower revenue. New Risk • Jul 11
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 7.4% 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 Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (฿411.6m market cap, or US$12.7m). Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿1.46, the stock trades at a trailing P/E ratio of 5.5x. Average trailing P/E is 9x in the Basic Materials industry in Thailand. Total loss to shareholders of 3.1% over the past year. Reported Earnings • May 16
First quarter 2025 earnings released: EPS: ฿0.13 (vs ฿0.046 in 1Q 2024) First quarter 2025 results: EPS: ฿0.13 (up from ฿0.046 in 1Q 2024). Revenue: ฿101.3m (up 8.1% from 1Q 2024). Net income: ฿41.1m (up 267% from 1Q 2024). Profit margin: 41% (up from 12% in 1Q 2024). The increase in margin was primarily driven by lower expenses. Tillkännagivande • Apr 30
Stone One Public Company Limited Approves Dividend for the Year Ended 31 December 2024, Payable on 30 May 2025 The 2025 Annual General Meeting of Shareholders of Stone One Public Company Limited held on April 30, 2025. The meeting acknowledged the interim dividend payment from retain earnings of the Company at the rate of THB 0.055 per share, totaling THB 16,892,403. The dividend was paid to shareholders as of May 30, 2024. The meeting resolved by the majority vote of shareholders attending the meeting and casting their votes that the allocation of the 2024 net profit of the Company as legal reserve, and dividend payment at the rate of THB 0.10 per share, totaling THB 30,713,460 be approved. The record date for determining the list of shareholders entitled to receive the dividend shall be 17 March 2025, and it will be paid as of May 30, 2025. Upcoming Dividend • Mar 07
Upcoming dividend of ฿0.10 per share Eligible shareholders must have bought the stock before 14 March 2025. Payment date: 30 May 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 8.5%. Within top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (5.3%). Reported Earnings • Mar 04
Full year 2024 earnings released: EPS: ฿0.18 (vs ฿0.16 in FY 2023) Full year 2024 results: EPS: ฿0.18 (up from ฿0.16 in FY 2023). Revenue: ฿406.7m (up 29% from FY 2023). Net income: ฿51.8m (up 36% from FY 2023). Profit margin: 13% (in line with FY 2023). Tillkännagivande • Mar 04
Stone One Public Company Limited, Annual General Meeting, Apr 30, 2025 Stone One Public Company Limited, Annual General Meeting, Apr 30, 2025, at 10:00 SE Asia Standard Time. Tillkännagivande • Mar 03
Stone One Public Company Limited Proposes Dividend for the Year Ended 31 December 2024, Payable on 30 May 2025 Stone One Public Company Limited at its board meeting held on 28 February 2025, approved to propose at its Annual General Meeting of Shareholders to be held on 30 April 2025, the dividend payment from the operating results of the year ended 31 December 2024 to common shareholders at the rate of THB 0.10 per share, totaling THB 30,713,460, which represents 68.30% of the net profit of the separate financial statements after deducting corporate income tax at the rate of 20% and the legal reserve allocation, in accordance with the Company's dividend payment policy. The record date for determining the list of shareholders entitled to receive the dividend shall be 17 March 2025. However, the entitlement to such dividend remains uncertain as it is subject to approval by the Shareholders' Meeting. In addition, individual shareholders may claim a tax credit for the dividend received at the rate of 20/80 of the dividend amount. Payment date is 30 May 2025. Record date for the right to receive dividends is 17 March 2025. Ex-dividend date is 14 March 2025. Tillkännagivande • Jan 22
Stone One Public Company Limited Appoints Krittanan Pingclasai as Senior Vice President Sales Department, Effective February 1, 2025 The Board of Directors of Stone One Public Company Limited has resolved to approve the appointment of STX Executive to enhance the efficiency of operations, effective from 1 February 2025, as follows: Mr. Krittanan Pingclasai, Director as Senior Vice President Sales Department. List of Executives (as of 1 February 2025) Mr. Jrarat Pingclasai, President; Mr. Songwut Vejjanukroh, Chief Executive Officer - CEO; Mr. Jareanrat Pingclasai Chief Operation Office - COO; Ms. Kwanjai Kasemlonnapa Chief Financial Officer - CFO; Mr. Krittanan Pingclasai Senior Vice President Sales Department; and Ms. Sununta Techathanopajai Senior Vice President Legal and Corporate Secretary Office Senior Vice President Organization Management and Development Department. Reported Earnings • Nov 19
Third quarter 2024 earnings released: EPS: ฿0.06 (vs ฿0.074 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.06. Revenue: ฿114.0m (up 25% from 3Q 2023). Net income: ฿19.0m (up 6.7% from 3Q 2023). Profit margin: 17% (down from 20% in 3Q 2023). The decrease in margin was driven by higher expenses. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: ฿0.05 (vs ฿0.041 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.05 (up from ฿0.041 in 2Q 2023). Revenue: ฿98.9m (up 33% from 2Q 2023). Net income: ฿14.4m (up 43% from 2Q 2023). Profit margin: 15% (up from 14% in 2Q 2023). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ฿1.39, the stock trades at a trailing P/E ratio of 9.6x. Average forward P/E is 14x in the Basic Materials industry in Thailand. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ฿1.91, the stock trades at a trailing P/E ratio of 13.2x. Average forward P/E is 14x in the Basic Materials industry in Thailand. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ฿1.57, the stock trades at a trailing P/E ratio of 10.9x. Average forward P/E is 14x in the Basic Materials industry in Thailand. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ฿1.52, the stock trades at a trailing P/E ratio of 10.5x. Average forward P/E is 14x in the Basic Materials industry in Thailand. Reported Earnings • May 16
First quarter 2024 earnings released: EPS: ฿0.05 (vs ฿0.02 in 1Q 2023) First quarter 2024 results: EPS: ฿0.05 (up from ฿0.02 in 1Q 2023). Revenue: ฿93.8m (up 32% from 1Q 2023). Net income: ฿11.2m (up 133% from 1Q 2023). Profit margin: 12% (up from 6.8% in 1Q 2023). Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ฿2.00, the stock trades at a trailing P/E ratio of 16.1x. Average forward P/E is 14x in the Basic Materials industry in Thailand. Tillkännagivande • May 03
Stone One Public Company Limited Declares Interim Cash Dividend Payment, Payable on 31 May 2024 Stone One Public Company Limited declared interim Cash dividend payment of THB 0.055 per share, Payment date 31 May, 2024; Record date for the right to receive dividends:16 May 2024; Ex-dividend date 15 May 2024. Board Change • Apr 29
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. 4 independent directors (6 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. 