Upcoming Dividend • Apr 30
Upcoming dividend of ฿0.02 per share Eligible shareholders must have bought the stock before 07 May 2026. Payment date: 26 May 2026. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 8.3%. Within top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (4.8%). Tillkännagivande • Mar 03
Eastern Star Real Estate Public Company Limited Announces Retirement of Jessada Promjart as Independent Director, Member of Audit Committee and Chairman of the Nomination and Remuneration Committee on April 28, 2026 Eastern Star Real Estate Public Company Limited announced that Mr. Jessada Promjart, who shall be retired by rotation, has declined the nomination as the INDEPENDENT DIRECTOR for another period. Position in company (2): AUDIT COMMITTEE, Position in company (3): Chairman of the Nomination and Remuneration Committee. Expire Date is April 28, 2026. Terminate Reason: Non-renewal of term (term expired). Reported Earnings • Mar 01
Full year 2025 earnings released: EPS: ฿0.025 (vs ฿0.007 in FY 2024) Full year 2025 results: EPS: ฿0.025 (up from ฿0.007 in FY 2024). Revenue: ฿2.05b (up 7.1% from FY 2024). Net income: ฿126.4m (up 271% from FY 2024). Profit margin: 6.2% (up from 1.8% in FY 2024). The increase in margin was driven by higher revenue. 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 18% per year, which means it is significantly lagging earnings. Declared Dividend • Mar 01
Dividend increased to ฿0.02 Dividend of ฿0.02 is 100% higher than last year. Ex-date: 7th May 2026 Payment date: 28th May 2026 Dividend yield will be 11%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is covered by both earnings (88% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 2.8% to shift the payout ratio to a potentially unsustainable range, which is less than the 7.7% EPS decline seen over the last 5 years. Tillkännagivande • Feb 28
Eastern Star Real Estate Public Company Limited announces Annual dividend, payable on May 28, 2026 Eastern Star Real Estate Public Company Limited announced Annual dividend of THB 0.0200 per share payable on May 28, 2026, ex-date on May 07, 2026 and record date on May 08, 2026. Tillkännagivande • Dec 20
Eastern Star Real Estate Public Company Limited Announces Appointment of Raweewan Phadungjai as Acting Chief Financial Officer, Effective December 19, 2025 Eastern Star Real Estate Public Company Limited announced Appointment of Miss Raweewan Phadungjai as Acting Chief Financial Officer, effective December 19, 2025. New Risk • Nov 17
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 44% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (฿1.00b market cap, or US$31.0m). Reported Earnings • Nov 17
Third quarter 2025 earnings released: ฿0.004 loss per share (vs ฿0.002 loss in 3Q 2024) Third quarter 2025 results: ฿0.004 loss per share (further deteriorated from ฿0.002 loss in 3Q 2024). Revenue: ฿248.2m (down 65% from 3Q 2024). Net loss: ฿19.8m (loss widened 127% from 3Q 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 16% per year, which means it is performing significantly worse than earnings. New Risk • Oct 27
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 9.9% 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 (9.9% average weekly change). Earnings have declined by 43% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (฿1.16b market cap, or US$35.4m). New Risk • Aug 18
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 7.2% 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 43% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.2% average weekly change). Market cap is less than US$100m (฿1.00b market cap, or US$30.9m). Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: ฿0.002 (vs ฿0.008 loss in 2Q 2024) Second quarter 2025 results: EPS: ฿0.002 (up from ฿0.008 loss in 2Q 2024). Revenue: ฿357.6m (up 121% from 2Q 2024). Net income: ฿9.57m (up ฿47.4m from 2Q 2024). Profit margin: 2.7% (up from net loss in 2Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 18% per year. Tillkännagivande • Jun 20
Eastern Star Real Estate Public Company Limited Appoints Usanee Silasant as Chief Accountant Effective June 18, 2025 Eastern Star Real Estate Public Company Limited has appointed Miss Usanee Silasant as the new Chief Accountant, effective June 18, 2025. Prior to this appointment, she held the position of Assistant Accounting Manager. Reported Earnings • May 15
First quarter 2025 earnings released: ฿0.002 loss per share (vs ฿0.001 profit in 1Q 2024) First quarter 2025 results: ฿0.002 loss per share (down from ฿0.001 profit in 1Q 2024). Revenue: ฿294.5m (down 14% from 1Q 2024). Net loss: ฿9.13m (down 263% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. 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 Tak Bunnag 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 30
Upcoming dividend of ฿0.01 per share Eligible shareholders must have bought the stock before 07 May 2025. Payment date: 27 May 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.0%. Lower than top quartile of Thai dividend payers (7.9%). Lower than average of industry peers (5.8%). New Risk • Mar 10
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 143% The company is paying a dividend despite having no free cash flows. Dividend yield: 5.6% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. 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: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 143% Paying a dividend despite having no free cash flows. Earnings have declined by 36% per year over the past 5 years. Minor Risk Market cap is less than US$100m (฿904.0m market cap, or US$26.7m). Reported Earnings • Mar 02
Full year 2024 earnings released: EPS: ฿0.007 (vs ฿0.006 in FY 2023) Full year 2024 results: EPS: ฿0.007 (up from ฿0.006 in FY 2023). Revenue: ฿1.92b (up 46% from FY 2023). Net income: ฿34.1m (up 14% from FY 2023). Profit margin: 1.8% (down from 2.3% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has fallen by 29% per year, which means it is performing significantly worse than earnings. Tillkännagivande • Feb 07
Eastern Star Real Estate Public Company Limited Announces Resignation of Jurairat Sricharoen as Chief Accountant Eastern Star Real Estate Public Company Limited announced resignation of Miss Jurairat Sricharoen as Chief Accountant. Effective Date of Termination is February 6, 2025. Tillkännagivande • Oct 02
Eastern Star Real Estate Public Company Limited Announces Change in Chief Accountant Position Eastern Star Real Estate Public Company Limited has announced a change in its Chief Accountant position. Miss Anchalee Silardlao has terminated from her role as Accounting Manager, effective September 30, 2024. Subsequently, Miss Jurairat Sricharoen has been appointed as the Accounting Manager, effective October 1, 2024. Reported Earnings • Aug 15
Second quarter 2024 earnings released: ฿0.007 loss per share (vs ฿0 in 2Q 2023) Second quarter 2024 results: ฿0.007 loss per share (further deteriorated from ฿0 in 2Q 2023). Revenue: ฿161.7m (down 55% from 2Q 2023). Net loss: ฿37.8m (down ฿38.1m from profit in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Reported Earnings • May 15
First quarter 2024 earnings released: EPS: ฿0.001 (vs ฿0 in 1Q 2023) First quarter 2024 results: EPS: ฿0.001 (up from ฿0 in 1Q 2023). Revenue: ฿341.9m (up 18% from 1Q 2023). Net income: ฿5.61m (up ฿6.80m from 1Q 2023). Profit margin: 1.6% (up from net loss in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 44 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 02
Full year 2023 earnings released: EPS: ฿0.006 (vs ฿0.01 in FY 2022) Full year 2023 results: EPS: ฿0.006 (down from ฿0.01 in FY 2022). Revenue: ฿1.32b (down 28% from FY 2022). Net income: ฿29.9m (down 42% from FY 2022). Profit margin: 2.3% (down from 2.8% in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Tillkännagivande • Mar 02
Eastern Star Real Estate Public Company Limited, Annual General Meeting, Apr 30, 2024 Eastern Star Real Estate Public Company Limited, Annual General Meeting, Apr 30, 2024, at 14:00 SE Asia Standard Time. Agenda: To adopt the Minutes of Ordinary General Meeting of Shareholders of the Company No.1/2023; to acknowledge the performance results of the Board of Directors for the previous year and the Annual Report for the year 2023; to approve the Statements of Financial Position and the Statements of Comprehensive Income of the Company for the fiscal year ended 31 December 2023; to approve the appropriation of profits and the non-payment of dividends for the performance results of the fiscal year 2023; to consider the election of the directors in place of those retiring by rotation; to consider the fixing of the remuneration to the Board of Directors for the year 2024; and to consider the appointment of auditors of the Company for the fiscal year 2024 and fix the remuneration. New Risk • Nov 28
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 Risk Earnings have declined by 22% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (฿1.36b market cap, or US$38.8m). Reported Earnings • Nov 16
Third quarter 2023 earnings released: EPS: ฿0 (vs ฿0.006 in 3Q 2022) Third quarter 2023 results: EPS: ฿0 (down from ฿0.006 in 3Q 2022). Revenue: ฿302.4m (down 52% from 3Q 2022). Net loss: ฿2.41m (down 108% from profit in 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 17
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: ฿356.2m (down 27% from 2Q 2022). Net income: ฿257.0k (down 99% from 2Q 2022). Profit margin: 0.1% (down from 4.7% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 54% 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. Buying Opportunity • Mar 12
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.9%. The fair value is estimated to be ฿0.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 22%. Reported Earnings • Nov 20
Third quarter 2022 earnings released: EPS: ฿0.006 (vs ฿0.005 loss in 3Q 2021) Third quarter 2022 results: EPS: ฿0.006 (up from ฿0.005 loss in 3Q 2021). Revenue: ฿625.9m (up 179% from 3Q 2021). Net income: ฿30.2m (up ฿54.0m from 3Q 2021). Profit margin: 4.8% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
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. 7 non-independent directors. Independent Director Wanna Thamsirisup was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: ฿0.005 (vs ฿0 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.005 (up from ฿0 in 2Q 2021). Revenue: ฿487.0m (up 50% from 2Q 2021). Net income: ฿22.8m (up ฿24.4m from 2Q 2021). Profit margin: 4.7% (up from net loss in 2Q 2021). 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 6% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
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. 7 non-independent directors. Independent Director Wanna Thamsirisup was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 27
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: ฿0.004 (down from ฿0.038 in FY 2020). Revenue: ฿1.33b (down 51% from FY 2020). Net income: ฿21.6m (down 89% from FY 2020). Profit margin: 1.6% (down from 7.0% in FY 2020). Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 4% per year. Reported Earnings • Nov 15
Third quarter 2021 earnings released: ฿0.005 loss per share (vs ฿0.022 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: ฿224.2m (down 79% from 3Q 2020). Net loss: ฿23.8m (down 121% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • May 16
First quarter 2021 earnings released: EPS ฿0.004 (vs ฿0.005 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿330.9m (up 79% from 1Q 2020). Net income: ฿20.5m (up ฿43.3m from 1Q 2020). Profit margin: 6.2% (up from net loss in 1Q 2020). 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 6% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Apr 30
Upcoming dividend of ฿0.01 per share Eligible shareholders must have bought the stock before 07 May 2021. Payment date: 25 May 2021. Trailing yield: 1.5%. Lower than top quartile of Thai dividend payers (4.8%). Lower than average of industry peers (3.8%). Reported Earnings • Feb 26
Full year 2020 earnings released: EPS ฿0.038 (vs ฿0.01 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿2.68b (up 91% from FY 2019). Net income: ฿188.5m (up 258% from FY 2019). Profit margin: 7.0% (up from 3.8% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 26
New 90-day high: ฿0.48 The company is up 45% from its price of ฿0.33 on 28 October 2020. The Thai market is up 25% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 25% over the same period. Is New 90 Day High Low • Dec 08
New 90-day high: ฿0.41 The company is up 17% from its price of ฿0.35 on 09 September 2020. The Thai market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 15% over the same period. Is New 90 Day High Low • Nov 17
New 90-day high: ฿0.37 The company is up 19% from its price of ฿0.31 on 19 August 2020. The Thai market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 2.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS ฿0.022 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿1.06b (up 166% from 3Q 2019). Net income: ฿112.9m (up ฿106.5m from 3Q 2019). Profit margin: 11% (up from 1.6% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 63% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 08
New 90-day high: ฿0.36 The company is up 3.0% from its price of ฿0.35 on 10 July 2020. The Thai market is down 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 8.0% over the same period.