Buy Or Sell Opportunity • 4h
Now 20% overvalued Over the last 90 days, the stock has fallen 15% to ₱2.28. The fair value is estimated to be ₱1.90, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years. Earnings per share has declined by 16%. Reported Earnings • May 16
First quarter 2026 earnings released: EPS: ₱0.05 (vs ₱0.11 in 1Q 2025) First quarter 2026 results: EPS: ₱0.05 (down from ₱0.11 in 1Q 2025). Revenue: ₱7.66b (up 11% from 1Q 2025). Net income: ₱152.9m (down 59% from 1Q 2025). Profit margin: 2.0% (down from 5.4% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 16% 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. New Risk • May 16
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 144% Dividend yield: 6.5% 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 (144% cash payout ratio). Profit margins are more than 30% lower than last year (3.5% net profit margin). Duyuru • May 13
SSI Group, Inc. announces Annual dividend, payable on June 26, 2026 SSI Group, Inc. announced Annual dividend of PHP 0.0805 per share payable on June 26, 2026, ex-date on June 02, 2026 and record date on June 03, 2026. New Risk • Apr 17
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.3% Last year net profit margin: 8.4% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Reported Earnings • Apr 17
Full year 2025 earnings released: EPS: ₱0.40 (vs ₱0.76 in FY 2024) Full year 2025 results: EPS: ₱0.40 (down from ₱0.76 in FY 2024). Revenue: ₱30.9b (up 2.9% from FY 2024). Net income: ₱1.32b (down 48% from FY 2024). Profit margin: 4.3% (down from 8.4% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • Nov 16
Third quarter 2025 earnings released: EPS: ₱0.06 (vs ₱0.16 in 3Q 2024) Third quarter 2025 results: EPS: ₱0.06 (down from ₱0.16 in 3Q 2024). Revenue: ₱6.90b (flat on 3Q 2024). Net income: ₱188.1m (down 65% from 3Q 2024). Profit margin: 2.7% (down from 7.7% in 3Q 2024). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Specialty Retail industry in Asia. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Aug 20
Consensus EPS estimates fall by 26% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ₱32.4b to ₱30.3b. EPS estimate also fell from ₱0.76 per share to ₱0.56 per share. Net income forecast to shrink 12% next year vs 18% growth forecast for Specialty Retail industry in Philippines . Consensus price target down from ₱4.60 to ₱3.10. Share price fell 8.7% to ₱2.63 over the past week. Price Target Changed • Aug 15
Price target decreased by 33% to ₱3.10 Down from ₱4.60, the current price target is provided by 1 analyst. New target price is 16% above last closing price of ₱2.68. Stock is down 10% over the past year. The company is forecast to post earnings per share of ₱0.56 for next year compared to ₱0.76 last year. Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: ₱0.03 (vs ₱0.11 in 2Q 2024) Second quarter 2025 results: EPS: ₱0.03 (down from ₱0.11 in 2Q 2024). Revenue: ₱6.61b (down 1.5% from 2Q 2024). Net income: ₱83.4m (down 77% from 2Q 2024). Profit margin: 1.3% (down from 5.5% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Specialty Retail industry in Asia. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 21% per year. Duyuru • Jun 05
SSI Group, Inc., Annual General Meeting, Jul 24, 2025 SSI Group, Inc., Annual General Meeting, Jul 24, 2025, at 14:00 W. Australia Standard Time. Reported Earnings • May 16
First quarter 2025 earnings released: EPS: ₱0.11 (vs ₱0.11 in 1Q 2024) First quarter 2025 results: EPS: ₱0.11 (up from ₱0.11 in 1Q 2024). Revenue: ₱6.88b (up 4.9% from 1Q 2024). Net income: ₱368.4m (up 2.4% from 1Q 2024). Profit margin: 5.4% (down from 5.5% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Specialty Retail industry in Asia. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 29
Upcoming dividend of ₱0.15 per share Eligible shareholders must have bought the stock before 06 May 2025. Payment date: 30 May 2025. Payout ratio is a comfortable 5.5% and this is well supported by cash flows. Trailing yield: 5.1%. Lower than top quartile of Filipino dividend payers (6.5%). Higher than average of industry peers (2.4%). Buy Or Sell Opportunity • Apr 25
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.3% to ₱3.01. The fair value is estimated to be ₱3.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 41%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to decline by 23% in the next 2 years. Reported Earnings • Apr 16
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: ₱0.76 (down from ₱0.78 in FY 2023). Revenue: ₱30.0b (up 8.2% from FY 2023). Net income: ₱2.51b (down 2.7% from FY 2023). Profit margin: 8.4% (down from 9.3% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 52%. Revenue is forecast to grow 4.6% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Specialty Retail industry in Asia. Over the last 3 years on average, earnings per share has increased by 41% per year whereas the company’s share price has increased by 37% per year. Duyuru • Apr 15
SSI Group, Inc. Approves Cash Dividend, Payable on May 30, 2025 SSI Group, Inc. announced at a special board meeting held on April 15, 2025, the board of directors of the company approved the declaration of a regular cash dividend in the amount of PHP 0.153 per share. The cash dividend will be paid out of the unrestricted retained earnings of the company and is equivalent to 20% of the company's Audited 2024 net income. The dividend is payable to all stockholders on record on May 7, 2025 and shall be paid on May 30, 2025. Duyuru • Feb 24
SSI Group, Inc. Announces Creation and Appointment of Related Party Transactions (Rpt) Committee SSI Group, Inc. announced that on February 21, 2025, at Special Meeting of the Board of Directors, the Board approved the creation of the Related Party Transactions (RPT) Committee in accordance with the Corporation's By-Laws, the Revised Manual on Corporate Governance, and the Material Related Party Transactions Policy. The purpose of the RPT Committee is to review material related party transactions of the Corporation. The Board unanimously passed a resolution confirming the establishment of this committee. Following the creation of the RPT Committee, the Board proceeded with the appointment of its members. The appointed members are: Arthur R. Tan, an Independent Director, as Chairperson; Carlo L. Katigbak, an Independent Director, as a Voting Member; Edgardo Luis Pedro T. Pineda as a Voting Member; and Anthony T. Huang as a Non-Voting Member. A resolution approving these appointments was also passed by the Board. Price Target Changed • Jan 23
Price target increased by 8.2% to ₱2.65 Up from ₱2.45, the current price target is an average from 2 analysts. New target price is 13% below last closing price of ₱3.05. Stock is up 13% over the past year. The company is forecast to post earnings per share of ₱0.50 for next year compared to ₱0.78 last year. New Risk • Jan 23
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.2% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: ₱0.16 (vs ₱0.16 in 3Q 2023) Third quarter 2024 results: EPS: ₱0.16 (in line with 3Q 2023). Revenue: ₱6.97b (up 6.6% from 3Q 2023). Net income: ₱537.2m (up 3.2% from 3Q 2023). Profit margin: 7.7% (down from 8.0% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Oct 01
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 10% to ₱3.71. The fair value is estimated to be ₱3.03, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: ₱0.11 (vs ₱0.17 in 2Q 2023) Second quarter 2024 results: EPS: ₱0.11 (down from ₱0.17 in 2Q 2023). Revenue: ₱6.71b (up 8.4% from 2Q 2023). Net income: ₱366.5m (down 33% from 2Q 2023). Profit margin: 5.5% (down from 8.9% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Specialty Retail industry in Asia. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. New Risk • Aug 01
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.3% 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 Risks Earnings are forecast to decline by an average of 2.3% per year for the foreseeable future. High level of non-cash earnings (22% accrual ratio). Minor Risk Dividend is not well covered by cash flows (159% cash payout ratio). Duyuru • Jul 31
SSI Group Inc. Announces Election of Committee Members SSI Group Inc. announced that during the Organizational Board Meeting of the company held on 30 July 2024, the following persons were elected as Committee Members of the Company: Nomination Committee - Arthur R. Tan as Chairman and Compensation & Remuneration Committee - Anthony T. Huang as Chairman and Jose Miguel Tantoco as Member. Duyuru • Jun 15
SSI Group, Inc., Annual General Meeting, Jul 30, 2024 SSI Group, Inc., Annual General Meeting, Jul 30, 2024, at 14:00 W. Australia Standard Time. New Risk • Jun 14
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 159% Dividend yield: 4.7% 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: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risk Dividend is not well covered by cash flows (159% cash payout ratio). New Risk • May 25
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • May 22
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₱3.78, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 14x in the Specialty Retail industry in Asia. Total returns to shareholders of 245% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₱2.23 per share. New Risk • May 21
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.1% 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. This is currently the only risk that has been identified for the company. Declared Dividend • May 17
Dividend of ₱0.16 announced Shareholders will receive a dividend of ₱0.16. Ex-date: 30th May 2024 Payment date: 24th June 2024 Dividend yield will be 4.0%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (4% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has increased by an average of 27% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 5.1% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 17
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: ₱0.78 (up from ₱0.58 in FY 2022). Revenue: ₱27.7b (up 17% from FY 2022). Net income: ₱2.58b (up 34% from FY 2022). Profit margin: 9.3% (up from 8.1% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.3%. Revenue is forecast to grow 9.4% p.a. on average during the next 2 years, compared to a 9.5% growth forecast for the Specialty Retail industry in Asia. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 48% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₱3.83, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 15x in the Specialty Retail industry in Asia. Total returns to shareholders of 235% over the past three years. Duyuru • Feb 14
SSI Group, Inc. Announces Demise of Zenaida R. Tantoco, Chairman It is with profound sadness that SSI Group, Inc. announced the passing of Zenaida "Nedy" R. Tantoco. The retailer, philanthropist, patroness of the arts, loving mother, and grandmother passed away on February 8, 2024. The Rustan Commercial Corporation, SSI Group, Inc., and Rustan Marketing Corporation Chairwoman leaves an enduring legacy of excellence in the luxury retail sphere founded by her parents, Ambassador Bienvenido Tantoco, Sr. and Gliceria Rustia-Tantoco in 1952. Effective Date of Resignation/Cessation of term is Feb. 08, 2024. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₱2.64, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 14x in the Specialty Retail industry in Asia. Total returns to shareholders of 81% over the past three years. Buying Opportunity • Dec 11
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be ₱3.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Nov 17
Third quarter 2023 earnings released: EPS: ₱0.16 (vs ₱0.13 in 3Q 2022) Third quarter 2023 results: EPS: ₱0.16 (up from ₱0.13 in 3Q 2022). Revenue: ₱6.54b (up 16% from 3Q 2022). Net income: ₱520.4m (up 22% from 3Q 2022). Profit margin: 8.0% (up from 7.5% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: ₱0.17 (vs ₱0.13 in 2Q 2022) Second quarter 2023 results: EPS: ₱0.17 (up from ₱0.13 in 2Q 2022). Revenue: ₱6.19b (up 12% from 2Q 2022). Net income: ₱550.3m (up 30% from 2Q 2022). Profit margin: 8.9% (up from 7.6% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₱3.00, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 16x in the Specialty Retail industry in Asia. Total returns to shareholders of 176% over the past three years. Price Target Changed • Jun 21
Price target decreased by 52% to ₱1.00 Down from ₱2.10, the current price target is provided by 1 analyst. New target price is 60% below last closing price of ₱2.50. Stock is up 103% over the past year. The company posted earnings per share of ₱0.59 last year. Upcoming Dividend • May 24
Upcoming dividend of ₱0.11 per share at 1.6% yield Eligible shareholders must have bought the stock before 31 May 2023. Payment date: 23 June 2023. Payout ratio is a comfortable 4.6% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Filipino dividend payers (5.8%). Lower than average of industry peers (2.2%). Duyuru • May 09
SSI Group, Inc., Annual General Meeting, Jun 21, 2023 SSI Group, Inc., Annual General Meeting, Jun 21, 2023, at 11:00 Singapore Standard Time. Agenda: To consider Call to Order; to consider Certification of Notice and Quorum; to consider Approval of Minutes of the Annual Meeting held on 22 September 2022; to consider Approval of Annual Report for the Year 2022; to consider General ratification of all acts of the Board of Directors and management from the date of the last annual meeting up to the date of this meeting; to consider election of directors for 2023-2024; to consider appointment of external auditors; to consider Other Matters; and to consider Adjournment. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₱2.16, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 13x in the Specialty Retail industry in Asia. Total returns to shareholders of 82% over the past three years. Reported Earnings • Apr 18
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: ₱0.59 (up from ₱0.046 in FY 2021). Revenue: ₱23.8b (up 54% from FY 2021). Net income: ₱1.93b (up ₱1.78b from FY 2021). Profit margin: 8.1% (up from 1.0% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 29%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 1.8% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Specialty Retail industry in Asia. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 18
Third quarter 2022 earnings released: EPS: ₱0.13 (vs ₱0.08 loss in 3Q 2021) Third quarter 2022 results: EPS: ₱0.13 (up from ₱0.08 loss in 3Q 2021). Revenue: ₱5.66b (up 93% from 3Q 2021). Net income: ₱426.6m (up ₱697.5m from 3Q 2021). Profit margin: 7.5% (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 increased by 12% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Board Change • Nov 16
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 an independent director. The company's board is composed of: 1 new director. No experienced directors. 8 highly experienced directors. 2 independent directors (7 non-independent directors). Independent Director Arthur Tan was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Duyuru • Sep 23
SSI Group, Inc. Approves Committee Changes SSI Group, Inc. approved committee changes at its organizational meeting of the board of directors held on 22 September 2022 as follows: Nomination Committee Zenaida R. Tantoco as Chairman, Arthur R. Tan as Member, Anthony T. Huang as Member and Edgardo Luis Pedro T. Pineda as Member. Audit Committee Carlo L. Katigbak as Chairman, Anthony T. Huang as Member and Bienvenido V. Tantoco III as Member. Compensation & Remuneration Committee Zenaida R. Tantoco as Chairman, Anthony T. Huang as Member and Carlo L. Katigbak as Member. Reported Earnings • Aug 17
Second quarter 2022 earnings released: EPS: ₱0.13 (vs ₱0.02 loss in 2Q 2021) Second quarter 2022 results: EPS: ₱0.13 (up from ₱0.02 loss in 2Q 2021). Revenue: ₱5.56b (up 91% from 2Q 2021). Net income: ₱423.7m (up ₱497.9m from 2Q 2021). Profit margin: 7.6% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 35% 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. Upcoming Dividend • Aug 16
Upcoming dividend of ₱0.021 per share Eligible shareholders must have bought the stock before 23 August 2022. Payment date: 20 September 2022. The company last paid an ordinary dividend in June 2018. The average dividend yield among industry peers is 2.3%. Duyuru • Aug 13
SSI Group, Inc. Declares Cash Dividend, Payable on September 20, 2022 SSI Group, Inc. approved the declaration of a cash dividend in the amount of PHP 0.021 per share from the unrestricted retained earnings of SSI as of December 31, 2021 to all stockholders of record as of August 26, 2022 and payable on September 20, 2022. Duyuru • Aug 06
SSI Group, Inc., Annual General Meeting, Sep 22, 2022 SSI Group, Inc., Annual General Meeting, Sep 22, 2022, at 11:00 Singapore Standard Time. Recent Insider Transactions • Jul 20
Insider recently bought ₱3.2m worth of stock On the 18th of July, Ma. Margarita Atienza bought around 2m shares on-market at roughly ₱1.28 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₱3.2m more in shares than they have sold in the last 12 months. Recent Insider Transactions • May 28
Non-Executive Director recently bought ₱79k worth of stock On the 26th of May, Eduardo Lopez bought around 60k shares on-market at roughly ₱1.31 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • May 17
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: ₱0.02 (up from ₱0.03 loss in 1Q 2021). Revenue: ₱4.49b (up 28% from 1Q 2021). Net income: ₱67.7m (up ₱167.2m from 1Q 2021). Profit margin: 1.5% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) missed analyst estimates by 29%. Over the next year, revenue is forecast to grow 17%, compared to a 18% growth forecast for the industry in Philippines. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 39 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
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 an independent director. The company's board is composed of: 1 new director. No experienced directors. 8 highly experienced directors. 2 independent directors (7 non-independent directors). Independent Director Arthur Tan was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Jan 12
Price target increased to ₱2.33 Up from ₱2.10, the current price target is an average from 2 analysts. New target price is 117% above last closing price of ₱1.07. Stock is down 30% over the past year. The company is forecast to post earnings per share of ₱0.07 next year compared to a net loss per share of ₱0.27 last year. Reported Earnings • Nov 16
Third quarter 2021 earnings released The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: ₱2.93b (up 28% from 3Q 2020). Net loss: ₱271.0m (loss narrowed 5.0% from 3Q 2020). 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. Price Target Changed • Aug 20
Price target increased to ₱1.83 Up from ₱1.10, the current price target is an average from 3 analysts. New target price is 73% above last closing price of ₱1.06. Stock is up 2.9% over the past year. Reported Earnings • Aug 18
Second quarter 2021 earnings released: ₱0.02 loss per share (vs ₱0.18 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: ₱2.91b (up 292% from 2Q 2020). Net loss: ₱74.2m (loss narrowed 87% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Jun 08
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from ₱15.8b to ₱14.9b. 2021 losses expected to reduce from -₱0.38 to -₱0.16 per share. Specialty Retail industry in Philippines expected to see average net income growth of 28% next year. Consensus price target of ₱1.10 unchanged from last update. Share price rose 9.2% to ₱1.31 over the past week. Price Target Changed • May 28
Price target increased to ₱1.20 Up from ₱1.10, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of ₱1.18. Stock is up 4.4% over the past year. Major Estimate Revision • May 28
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from ₱13.1b to ₱15.8b. EPS estimate unchanged from -₱0.38 at last update. Specialty Retail industry in Philippines expected to see average net income growth of 29% next year. Consensus price target up from ₱1.10 to ₱1.20. Share price rose 2.6% to ₱1.18 over the past week. Is New 90 Day High Low • Mar 10
New 90-day low: ₱1.27 The company is down 23% from its price of ₱1.66 on 10 December 2020. The Filipino market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 9.0% over the same period. Is New 90 Day High Low • Jan 30
New 90-day low: ₱1.29 The company is down 2.0% from its price of ₱1.31 on 30 October 2020. The Filipino market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 14% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: ₱0.09 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: ₱2.29b (down 54% from 3Q 2019). Net loss: ₱285.2m (down 263% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Nov 13
New 90-day high: ₱1.62 The company is up 53% from its price of ₱1.06 on 14 August 2020. The Filipino market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₱0.016 per share. Is New 90 Day High Low • Oct 27
New 90-day high: ₱1.32 The company is up 25% from its price of ₱1.06 on 29 July 2020. The Filipino market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₱0.017 per share.