Tillkännagivande • May 22
Sahathai Terminal Public Company Limited to Report Q1, 2026 Results on May 26, 2026 Sahathai Terminal Public Company Limited announced that they will report Q1, 2026 results on May 26, 2026 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 7.2% 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 Risks Earnings have declined by 13% per year over the past 5 years. Market cap is less than US$10m (฿321.8m market cap, or US$9.95m). Minor Risk Share price has been volatile over the past 3 months (7.2% average weekly change). Reported Earnings • May 11
First quarter 2026 earnings released: EPS: ฿0.011 (vs ฿0.006 loss in 1Q 2025) First quarter 2026 results: EPS: ฿0.011 (up from ฿0.006 loss in 1Q 2025). Revenue: ฿335.2m (down 5.5% from 1Q 2025). Net income: ฿6.59m (up ฿10.1m from 1Q 2025). Profit margin: 2.0% (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 increased by 106% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. New Risk • Mar 04
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿315.7m (US$9.97m) 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 Earnings have declined by 23% per year over the past 5 years. Market cap is less than US$10m (฿315.7m market cap, or US$9.97m). Reported Earnings • Mar 01
Full year 2025 earnings released: ฿0.011 loss per share (vs ฿0.023 profit in FY 2024) Full year 2025 results: ฿0.011 loss per share (down from ฿0.023 profit in FY 2024). Revenue: ฿1.47b (flat on FY 2024). Net loss: ฿6.61m (down 148% from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings. Tillkännagivande • Feb 25
Sahathai Terminal Public Company Limited, Annual General Meeting, Apr 22, 2026 Sahathai Terminal Public Company Limited, Annual General Meeting, Apr 22, 2026, at 14:00 SE Asia Standard Time. Reported Earnings • Nov 12
Third quarter 2025 earnings released: ฿0.011 loss per share (vs ฿0.004 loss in 3Q 2024) Third quarter 2025 results: ฿0.011 loss per share (further deteriorated from ฿0.004 loss in 3Q 2024). Revenue: ฿353.6m (down 5.5% from 3Q 2024). Net loss: ฿6.38m (loss widened 186% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: ฿0.012 (vs ฿0.013 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.012 (down from ฿0.013 in 2Q 2024). Revenue: ฿376.9m (flat on 2Q 2024). Net income: ฿7.05m (down 9.1% from 2Q 2024). Profit margin: 1.9% (down from 2.1% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. New Risk • Jun 19
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 7.7% 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 Interest payments are not well covered by earnings (1.1x net interest cover). Earnings have declined by 41% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.7% average weekly change). Market cap is less than US$100m (฿437.2m market cap, or US$13.3m). Reported Earnings • May 12
First quarter 2025 earnings released: ฿0.006 loss per share (vs ฿0.017 profit in 1Q 2024) First quarter 2025 results: ฿0.006 loss per share (down from ฿0.017 profit in 1Q 2024). Revenue: ฿354.9m (down 7.1% from 1Q 2024). Net loss: ฿3.48m (down 134% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Tillkännagivande • May 10
Sahathai Terminal Public Company Limited Announces CFO Changes, Effective 19 May 2025 Sahathai Terminal Public Company Limited announced a change in the position of Chief Financial Officer. Mr. Banchai Karuchit, who was serving as the Acting CFO, will terminate his role effective May 19, 2025. Miss Papatsarin Vichayasavetrat has been appointed as the new Chief Financial Officer, effective May 19, 2025. New Risk • Apr 17
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 8.2% 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 Risks Interest payments are not well covered by earnings (1.2x net interest cover). Earnings have declined by 46% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Market cap is less than US$100m (฿461.5m market cap, or US$13.9m). Tillkännagivande • Mar 17
Sahathai Terminal Public Company Limited Announces CFO Changes Sahathai Terminal Public Company Limited announced CFO changes. The company announced the termination of Mr. Bundit Rungsimanon as Chief Financial Officer. Effective Date of Termination: March 15, 2025. The company announced the appointment of Mr. Banchai Karuchit (Acting) as Chief Financial Officer. Effective Date of appointment: March 17, 2025. Reported Earnings • Mar 03
Full year 2024 earnings released: EPS: ฿0.023 (vs ฿0.019 loss in FY 2023) Full year 2024 results: EPS: ฿0.023 (up from ฿0.019 loss in FY 2023). Revenue: ฿1.48b (down 3.8% from FY 2023). Net income: ฿13.7m (up ฿25.2m from FY 2023). Profit margin: 0.9% (up from net loss in FY 2023). The move to profitability was driven by lower 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 26% per year, which means it is significantly lagging earnings. Tillkännagivande • Feb 28
Sahathai Terminal Public Company Limited, Annual General Meeting, Apr 23, 2025 Sahathai Terminal Public Company Limited, Annual General Meeting, Apr 23, 2025, at 14:00 SE Asia Standard Time. New Risk • Nov 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 7.3% 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 Interest payments are not well covered by earnings (1.2x net interest cover). Earnings have declined by 59% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (฿801.5m market cap, or US$23.0m). Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ฿1.18, the stock trades at a trailing P/E ratio of 24.6x. Average trailing P/E is 27x in the Infrastructure industry in Thailand. Total loss to shareholders of 53% over the past three years. Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: ฿0.013 (vs ฿0.021 loss in 2Q 2023) Second quarter 2024 results: EPS: ฿0.013 (up from ฿0.021 loss in 2Q 2023). Revenue: ฿377.8m (up 4.2% from 2Q 2023). Net income: ฿7.76m (up ฿20.2m from 2Q 2023). Profit margin: 2.1% (up from net loss in 2Q 2023). 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 16% per year, which means it has not declined as severely as earnings. Reported Earnings • May 12
First quarter 2024 earnings released: EPS: ฿0.017 (vs ฿0.017 loss in 1Q 2023) First quarter 2024 results: EPS: ฿0.017 (up from ฿0.017 loss in 1Q 2023). Revenue: ฿381.8m (down 5.8% from 1Q 2023). Net income: ฿10.4m (up ฿20.4m from 1Q 2023). Profit margin: 2.7% (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 74 percentage points per year, which is a significant difference in performance. Tillkännagivande • May 03
Sahathai Terminal Public Company Limited Resignation of Wachirawit Panichpongpaiboon as Deputy Chief Financial Officer Sahathai Terminal Public Company Limited announced resignation of Mr. Wachirawit Panichpongpaiboon as Deputy Chief Financial Officer, effective 30 April 2024. Reported Earnings • Feb 24
Full year 2023 earnings released: ฿0.019 loss per share (vs ฿0.17 loss in FY 2022) Full year 2023 results: ฿0.019 loss per share (improved from ฿0.17 loss in FY 2022). Revenue: ฿1.53b (down 25% from FY 2022). Net loss: ฿11.5m (loss narrowed 89% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Tillkännagivande • Feb 24
Sahathai Terminal Public Company Limited, Annual General Meeting, Apr 24, 2024 Sahathai Terminal Public Company Limited, Annual General Meeting, Apr 24, 2024, at 14:00 SE Asia Standard Time. Agenda: To consider operating results in the past year; to consider statement of position and compressive profit and loss statement for the year ended Dec 31, 2023; to consider payment of dividend; to consider appointment and remuneration of directors; to consider amendment of article of association of the company Article 26, 30, 33, 34 and 45. New Risk • Feb 09
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 7.0% 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 Interest payments are not well covered by earnings (0.4x net interest cover). Earnings have declined by 65% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (฿844.0m market cap, or US$23.5m). Reported Earnings • Aug 12
Second quarter 2023 earnings released: ฿0.021 loss per share (vs ฿0.018 loss in 2Q 2022) Second quarter 2023 results: ฿0.021 loss per share (further deteriorated from ฿0.018 loss in 2Q 2022). Revenue: ฿362.6m (down 18% from 2Q 2022). Net loss: ฿12.5m (loss widened 16% from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. Buying Opportunity • Jul 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be ฿1.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Jun 23
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be ฿1.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company became loss making. New Risk • Jun 09
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 6.8% 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 Interest payments are not well covered by earnings (0.5x net interest cover). Earnings have declined by 51% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (฿1.03b market cap, or US$29.8m). Tillkännagivande • May 05
Sahathai Terminal Public Company Limited Announces CFO Changes Sahathai Terminal Public Company Limited announced that resignation of Mr. Worravit Auesapsakul as Chief Financial Officer, Effective Date of Termination: 30 April 2023 and appointment of Mr. Wachirawit Panichpongpaiboon (Acting) as Deputy Chief Financial Officer, Effective Date of Appointment: 03 May 2023. Reported Earnings • Feb 23
Full year 2022 earnings released: ฿0.17 loss per share (vs ฿0.045 profit in FY 2021) Full year 2022 results: ฿0.17 loss per share (down from ฿0.045 profit in FY 2021). Revenue: ฿2.04b (up 28% from FY 2021). Net loss: ฿101.4m (down 467% from profit in FY 2021). 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. Board Change • Nov 16
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. 9 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Director Anggoon Srisunthorn was the last director to join the board, commencing their role in 2017. 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 14
Second quarter 2022 earnings released: ฿0.018 loss per share (vs ฿0.014 profit in 2Q 2021) Second quarter 2022 results: ฿0.018 loss per share (down from ฿0.014 profit in 2Q 2021). Revenue: ฿443.5m (up 33% from 2Q 2021). Net loss: ฿10.7m (down 229% from profit in 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 47 percentage points per year, which is a significant difference in performance. Reported Earnings • May 16
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: ฿0.013 loss per share (down from ฿0.011 profit in 1Q 2021). Revenue: ฿572.7m (up 76% from 1Q 2021). Net loss: ฿7.83m (down 219% from profit in 1Q 2021). Revenue exceeded analyst estimates by 4.8%. Earnings per share (EPS) missed analyst estimates. Over the last 3 years on average, earnings per share has fallen by 58% 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 • Apr 27
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. 9 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Director Anggoon Srisunthorn was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Apr 21
Upcoming dividend of ฿0.025 per share Eligible shareholders must have bought the stock before 28 April 2022. Payment date: 19 May 2022. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Thai dividend payers (5.1%). Lower than average of industry peers (3.8%). Reported Earnings • Feb 28
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: ฿0.045 (down from ฿0.096 in FY 2020). Revenue: ฿1.59b (up 18% from FY 2020). Net income: ฿27.6m (down 53% from FY 2020). Profit margin: 1.7% (down from 4.3% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.8%. Earnings per share (EPS) missed analyst estimates by 23%. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 16
Third quarter 2021 earnings released: EPS ฿0.02 (vs ฿0.039 in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: ฿518.1m (up 52% from 3Q 2020). Net income: ฿12.2m (down 48% from 3Q 2020). Profit margin: 2.4% (down from 6.9% in 3Q 2020). The decrease in margin was driven by higher expenses. 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 25% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS ฿0.014 (vs ฿0.013 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ฿334.8m (up 2.8% from 2Q 2020). Net income: ฿8.32m (up 4.4% from 2Q 2020). Profit margin: 2.5% (up from 2.4% 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 39% 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. Reported Earnings • May 13
First quarter 2021 earnings released: EPS ฿0.011 (vs ฿0.01 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: ฿325.2m (down 4.5% from 1Q 2020). Net income: ฿6.59m (up 6.2% from 1Q 2020). Profit margin: 2.0% (up from 1.8% 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 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. Upcoming Dividend • Apr 21
Upcoming dividend of ฿0.035 per share Eligible shareholders must have bought the stock before 28 April 2021. Payment date: 19 May 2021. Trailing yield: 1.2%. Lower than top quartile of Thai dividend payers (4.9%). Higher than average of industry peers (0.5%). Reported Earnings • Feb 24
Full year 2020 earnings released: EPS ฿0.096 (vs ฿0.19 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿1.35b (down 12% from FY 2019). Net income: ฿58.1m (down 43% from FY 2019). Profit margin: 4.3% (down from 6.7% 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 22% per year whereas the company’s share price has fallen by 23% per year. Analyst Estimate Surprise Post Earnings • Feb 24
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 4.8%. Earnings per share (EPS) missed analyst estimates by 23%. Over the next year, revenue is forecast to grow 18%, compared to a 21% growth forecast for the Infrastructure industry in Thailand. Is New 90 Day High Low • Jan 18
New 90-day high: ฿3.56 The company is up 79% from its price of ฿1.99 on 20 October 2020. The Thai market is up 26% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Infrastructure industry, which is up 12% over the same period. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improved over the past week After last week's 21% share price gain to ฿3.38, the stock is trading at a trailing P/E ratio of 34x, up from the previous P/E ratio of 28.2x. This compares to an average P/E of 16x in the Infrastructure industry in Asia. Total return to shareholders over the past three years is a loss of 52%. Is New 90 Day High Low • Dec 16
New 90-day high: ฿3.28 The company is up 62% from its price of ฿2.02 on 17 September 2020. The Thai market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Infrastructure industry, which is up 7.0% over the same period. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 15% share price gain to ฿3.28, the stock is trading at a trailing P/E ratio of 33x, up from the previous P/E ratio of 28.6x. This compares to an average P/E of 16x in the Infrastructure industry in Asia. Total return to shareholders over the past three years is a loss of 45%. Valuation Update With 7 Day Price Move • Nov 23
Market bids up stock over the past week After last week's 23% share price gain to ฿2.92, the stock is trading at a trailing P/E ratio of 29.4x, up from the previous P/E ratio of 24x. 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 39%. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS ฿0.039 The company reported a poor third quarter result with weaker earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: ฿341.2m (down 12% from 3Q 2019). Net income: ฿23.4m (down 12% from 3Q 2019). Profit margin: 6.9% (in line with 3Q 2019). Is New 90 Day High Low • Nov 05
New 90-day high: ฿2.40 The company is up 4.0% from its price of ฿2.30 on 07 August 2020. The Thai market is down 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Infrastructure industry, which is up 7.0% over the same period. 
