Reported Earnings • May 11
First quarter 2026 earnings released: EPS: ฿0.023 (vs ฿0.031 loss in 1Q 2025) First quarter 2026 results: EPS: ฿0.023 (up from ฿0.031 loss in 1Q 2025). Revenue: ฿120.9m (down 35% from 1Q 2025). Net income: ฿2.82m (up ฿6.55m from 1Q 2025). Profit margin: 2.3% (up from net loss in 1Q 2025). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. New Risk • Apr 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 10% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 61% per year over the past 5 years. Market cap is less than US$10m (฿294.0m market cap, or US$9.07m). Board Change • Apr 24
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Ritima Jirasuradate was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Mar 01
Full year 2025 earnings released: ฿0.11 loss per share (vs ฿0.18 loss in FY 2024) Full year 2025 results: ฿0.11 loss per share (improved from ฿0.18 loss in FY 2024). Revenue: ฿641.7m (down 19% from FY 2024). Net loss: ฿14.0m (loss narrowed 38% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Tillkännagivande • Feb 27
Thai Poly Acrylic Public Company Limited, Annual General Meeting, Apr 21, 2026 Thai Poly Acrylic Public Company Limited, Annual General Meeting, Apr 21, 2026, at 10:00 SE Asia Standard Time. Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ฿0.004 (vs ฿0.14 loss in 3Q 2024) Third quarter 2025 results: EPS: ฿0.004 (up from ฿0.14 loss in 3Q 2024). Revenue: ฿149.5m (down 17% from 3Q 2024). Net income: ฿531.7k (up ฿17.4m from 3Q 2024). Profit margin: 0.4% (up from net loss in 3Q 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. New Risk • Oct 14
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿323.2m (US$9.85m) 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 Share price has been highly volatile over the past 3 months (12% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 63% per year over the past 5 years. Market cap is less than US$10m (฿323.2m market cap, or US$9.85m). Reported Earnings • Aug 08
Second quarter 2025 earnings released: ฿0.094 loss per share (vs ฿0.002 loss in 2Q 2024) Second quarter 2025 results: ฿0.094 loss per share (further deteriorated from ฿0.002 loss in 2Q 2024). Revenue: ฿160.4m (down 26% from 2Q 2024). Net loss: ฿11.4m (loss widened ฿11.1m from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 26% per year whereas the company’s share price has fallen by 23% per year. Reported Earnings • May 09
First quarter 2025 earnings released: ฿0.031 loss per share (vs ฿0.028 profit in 1Q 2024) First quarter 2025 results: ฿0.031 loss per share (down from ฿0.028 profit in 1Q 2024). Revenue: ฿188.3m (down 11% from 1Q 2024). Net loss: ฿3.73m (down 211% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. New Risk • Mar 31
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿320.8m (US$9.46m) 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 Share price has been highly volatile over the past 3 months (16% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Dividend per share is over 18x cash flows per share. Earnings have declined by 53% per year over the past 5 years. Market cap is less than US$10m (฿320.8m market cap, or US$9.46m). Reported Earnings • Feb 28
Full year 2024 earnings released: ฿0.19 loss per share (vs ฿0.098 profit in FY 2023) Full year 2024 results: ฿0.19 loss per share (down from ฿0.098 profit in FY 2023). Revenue: ฿804.9m (up 1.4% from FY 2023). Net loss: ฿22.5m (down 289% from profit in FY 2023). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. Tillkännagivande • Feb 28
Thai Poly Acrylic Public Company Limited, Annual General Meeting, Apr 23, 2025 Thai Poly Acrylic Public Company Limited, Annual General Meeting, Apr 23, 2025, at 10:00 SE Asia Standard Time. Tillkännagivande • Feb 20
Thai Poly Acrylic Public Company Limited Announces the Resignation of Shinya Yano as Director Thai Poly Acrylic Public Company Limited announced the resignation of Mr. SHINYA YANO as DIRECTOR. Resigned from position /the company due to change management responsibility within group of companies. Date of board resolution for change of director /executive 20 February 2025. Buy Or Sell Opportunity • Feb 12
Now 20% overvalued Over the last 90 days, the stock has fallen 17% to ฿3.54. The fair value is estimated to be ฿2.95, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.3% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jan 23
Now 38% overvalued The stock has been flat over the last 90 days, currently trading at ฿4.30. The fair value is estimated to be ฿3.12, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.3% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jan 03
Now 28% overvalued Over the last 90 days, the stock has fallen 9.5% to ฿3.98. The fair value is estimated to be ฿3.11, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.3% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Dec 16
Now 24% overvalued Over the last 90 days, the stock has fallen 6.3% to ฿3.90. The fair value is estimated to be ฿3.15, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.3% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Nov 28
Now 24% overvalued Over the last 90 days, the stock has fallen 7.6% to ฿3.88. The fair value is estimated to be ฿3.12, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.3% over the last 3 years. Meanwhile, the company became loss making. New Risk • Nov 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 11% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 309% Cash payout ratio: 174% Minor Risk Market cap is less than US$100m (฿493.3m market cap, or US$14.4m). New Risk • Aug 13
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: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 312% Cash payout ratio: 174% Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (฿425.3m market cap, or US$12.1m). Reported Earnings • Aug 10
Second quarter 2024 earnings released: ฿0.002 loss per share (vs ฿0.046 profit in 2Q 2023) Second quarter 2024 results: ฿0.002 loss per share (down from ฿0.046 profit in 2Q 2023). Revenue: ฿218.6m (up 12% from 2Q 2023). Net loss: ฿289.2k (down 105% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Reported Earnings • May 11
First quarter 2024 earnings released: EPS: ฿0.028 (vs ฿0.003 loss in 1Q 2023) First quarter 2024 results: EPS: ฿0.028 (up from ฿0.003 loss in 1Q 2023). Revenue: ฿214.6m (up 23% from 1Q 2023). Net income: ฿3.36m (up ฿3.71m from 1Q 2023). Profit margin: 1.6% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Tillkännagivande • May 11
Thai Poly Acrylic Public Company Limited Announces Board and Committee Changes Thai Poly Acrylic Public Company Limited announced at the board meeting held on May 9, 2024, approved resignation of Mr. Jetsada Wongwatanasin from the positions of the Company's Independent Director, Member of Audit Committee, and Member of the Nomination and Remuneration Committee due to his personal reason. Such resignation shall be effective from May 8, 2024 onwards. Approved the appointment of Mr. Kajornkiet Aroonpirodjanakul as the Company's Independent Director, Member of Audit Committee, and Member of the Nomination and Remuneration Committee, in replacement of Mr. Jetsada Wongwatanasin. Such appointment shall be effective from May 9, 2024 onwards and the appointed director shall only be in office for the remaining term of Mr. Jetsada Wongwatanasin. Tillkännagivande • May 10
Thai Poly Acrylic Public Company Limited Approves the Appointment of Kajornkiet Aroonpirodjanakul as Member of the Audit Committee Thai Poly Acrylic Public Company Limited at the Board of Directors meeting held on 9 May 2024, approved the appointment of Mr. Kajornkiet Aroonpirodjanakul as Member of the audit committee. The appointment shall take an effect as of 9 May 2024. The audit committee is consisted of: Chairman of the audit committee Dr. Anuphan Kitnitchiva - remaining term in office 1 year(s); Member of the audit committee Mr. Jan Dam Pedersen - remaining term in office 3 year(s); Member of the audit committee Mr. Kajornkiet Aroonpirodjanakul - remaining term in office 2 year(s) and Secretary of the audit committee - Miss Phen Phenprucksaku. Upcoming Dividend • Apr 30
Upcoming dividend of ฿0.25 per share Eligible shareholders must have bought the stock before 07 May 2024. Payment date: 21 May 2024. Trailing yield: 5.7%. Lower than top quartile of Thai dividend payers (5.9%). Higher than average of industry peers (2.6%). Tillkännagivande • Apr 26
Thai Poly Acrylic Public Company Limited Approves Dividend for the Year 2023, Payable on May 21, 2024 Thai Poly Acrylic Public Company Limited announced that at its AGM held on April 24, 2024, approved the dividend payment for the company's operating performance for the year 2023, at the rate of THB 0.25 per share, for 121,500,000 shares, totaling THB 30,375,000 from the retained earnings, which subject to corporate income tax at the rate of 20%. Thus, the individual shareholders would be entitled to claim tax credit in respect of the payment of such dividend under Section 47 bis of the Revenue Code. The date of determination of the list of shareholders who are entitled to dividends, the record date, would be May 8, 2024 and the dividend payment would be made on May 21, 2024. Reported Earnings • Feb 24
Full year 2023 earnings released: EPS: ฿0.10 (vs ฿0.17 loss in FY 2022) Full year 2023 results: EPS: ฿0.10 (up from ฿0.17 loss in FY 2022). Revenue: ฿800.5m (up 5.5% from FY 2022). Net income: ฿11.9m (up ฿32.4m from FY 2022). Profit margin: 1.5% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. New Risk • Feb 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 6.1% 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: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 116% Earnings have declined by 13% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (฿498.2m market cap, or US$13.8m). Reported Earnings • Nov 11
Third quarter 2023 earnings released: EPS: ฿0.03 (vs ฿0.11 loss in 3Q 2022) Third quarter 2023 results: EPS: ฿0.03 (up from ฿0.11 loss in 3Q 2022). Revenue: ฿207.7m (up 23% from 3Q 2022). Net income: ฿3.90m (up ฿17.1m from 3Q 2022). Profit margin: 1.9% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: ฿0.05 (vs ฿0.034 loss in 2Q 2022) Second quarter 2023 results: EPS: ฿0.05 (up from ฿0.034 loss in 2Q 2022). Revenue: ฿197.6m (up 2.0% from 2Q 2022). Net income: ฿5.55m (up ฿9.67m from 2Q 2022). Profit margin: 2.8% (up from net loss in 2Q 2022). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance. Board Change • Nov 17
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Jetsada Wongwatanasin was the last independent 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: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 13
Second quarter 2022 earnings released: ฿0.03 loss per share (vs ฿0.052 profit in 2Q 2021) Second quarter 2022 results: ฿0.03 loss per share (down from ฿0.052 profit in 2Q 2021). Revenue: ฿197.2m (down 13% from 2Q 2021). Net loss: ฿4.13m (down 165% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 2% per year. Board Change • Apr 27
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. 6 non-independent directors. Independent Director Jetsada Wongwatanasin was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 28
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ฿0.15 (down from ฿0.48 in FY 2020). Revenue: ฿909.8m (down 2.3% from FY 2020). Net income: ฿18.2m (down 69% from FY 2020). Profit margin: 2.0% (down from 6.2% in FY 2020). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 15
Third quarter 2021 earnings released: ฿0.01 loss per share (vs ฿0.15 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: ฿204.2m (down 24% from 3Q 2020). Net loss: ฿1.75m (down 109% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 17
First quarter 2021 earnings released: EPS ฿0.10 (vs ฿0.12 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: ฿246.3m (up 25% from 1Q 2020). Net income: ฿11.7m (down 19% from 1Q 2020). Profit margin: 4.7% (down from 7.3% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 28
Upcoming dividend of ฿0.45 per share Eligible shareholders must have bought the stock before 05 May 2021. Payment date: 20 May 2021. Trailing yield: 6.3%. Within top quartile of Thai dividend payers (4.9%). Higher than average of industry peers (1.9%). Reported Earnings • Feb 21
Full year 2020 earnings released: EPS ฿0.48 (vs ฿0.27 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: ฿930.8m (flat on FY 2019). Net income: ฿57.9m (up 75% from FY 2019). Profit margin: 6.2% (up from 3.5% in FY 2019). 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 2% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 20
New 90-day high: ฿6.15 The company is up 15% from its price of ฿5.35 on 20 November 2020. The Thai market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 20% over the same period. Is New 90 Day High Low • Jan 07
New 90-day high: ฿5.55 The company is up 10.0% from its price of ฿5.05 on 09 October 2020. The Thai market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 40% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS ฿0.15 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿269.7m (up 20% from 3Q 2019). Net income: ฿18.6m (up 43% from 3Q 2019). Profit margin: 6.9% (up from 5.8% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Nov 02
New 90-day low: ฿4.98 The company is down 4.0% from its price of ฿5.20 on 04 August 2020. The Thai market is down 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is down 10.0% over the same period.