Upcoming Dividend • May 01
Upcoming dividend of ฿0.10 per share Eligible shareholders must have bought the stock before 08 May 2026. Payment date: 22 May 2026. Payout ratio is a comfortable 72% and this is well supported by cash flows. Trailing yield: 8.1%. Within top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (6.4%). Declared Dividend • Mar 01
Dividend reduced to ฿0.10 Dividend of ฿0.10 is 9.1% lower than last year. Ex-date: 8th May 2026 Payment date: 22nd May 2026 Dividend yield will be 8.1%, which is higher than the industry average of 7.1%. Sustainability & Growth Dividend is covered by both earnings (77% earnings payout ratio) and cash flows (55% cash payout ratio). The dividend has increased by an average of 21% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: ฿0.042 (vs ฿0.059 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.042 (down from ฿0.059 in 3Q 2024). Revenue: ฿184.0m (down 17% from 3Q 2024). Net income: ฿25.0m (down 30% from 3Q 2024). Profit margin: 14% (down from 16% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 08
Second quarter 2025 earnings released: EPS: ฿0.022 (vs ฿0.047 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.022 (down from ฿0.047 in 2Q 2024). Revenue: ฿155.5m (down 11% from 2Q 2024). Net income: ฿13.1m (down 54% from 2Q 2024). Profit margin: 8.4% (down from 16% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • May 09
First quarter 2025 earnings released: EPS: ฿0.047 (vs ฿0.03 in 1Q 2024) First quarter 2025 results: EPS: ฿0.047 (up from ฿0.03 in 1Q 2024). Revenue: ฿183.5m (up 37% from 1Q 2024). Net income: ฿28.1m (up 55% from 1Q 2024). Profit margin: 15% (up from 14% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 01
Upcoming dividend of ฿0.11 per share Eligible shareholders must have bought the stock before 08 May 2025. Payment date: 23 May 2025. Payout ratio is a comfortable 65% and this is well supported by cash flows. Trailing yield: 8.3%. Within top quartile of Thai dividend payers (7.9%). In line with average of industry peers (9.2%). Duyuru • Apr 25
Alla Public Company Limited Approves Dividend for the Year 2024, Payable on May 23, 2025 Alla Public Company Limited announced that at its AGM held on 25 April 2025, approved the dividend payment from the operating results of 2024 at the rate of THB 0.11 per share or amounting to THB 66,000,000 to the shareholders. The company sets the record date on 9 May 2025 and the schedule of the payment date on 23 May 2025. Declared Dividend • Mar 02
Dividend reduced to ฿0.11 Dividend of ฿0.11 is 8.3% lower than last year. Ex-date: 8th May 2025 Payment date: 23rd May 2025 Dividend yield will be 8.0%, which is higher than the industry average of 7.1%. Sustainability & Growth Dividend is covered by both earnings (65% earnings payout ratio) and cash flows (73% cash payout ratio). The dividend has increased by an average of 24% per year over the past 8 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Reported Earnings • Feb 26
Full year 2024 earnings released: EPS: ฿0.17 (vs ฿0.18 in FY 2023) Full year 2024 results: EPS: ฿0.17 (down from ฿0.18 in FY 2023). Revenue: ฿765.7m (down 9.6% from FY 2023). Net income: ฿101.0m (down 6.8% from FY 2023). Profit margin: 13% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Board Change • Feb 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Independent Director Charoenchai Prathuangsuksri was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: ฿0.047 (vs ฿0.041 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.047 (up from ฿0.041 in 2Q 2023). Revenue: ฿175.4m (down 12% from 2Q 2023). Net income: ฿28.3m (up 15% from 2Q 2023). Profit margin: 16% (up from 12% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • May 11
First quarter 2024 earnings released: EPS: ฿0.03 (vs ฿0.026 in 1Q 2023) First quarter 2024 results: EPS: ฿0.03 (up from ฿0.026 in 1Q 2023). Revenue: ฿133.5m (down 25% from 1Q 2023). Net income: ฿18.1m (up 14% from 1Q 2023). Profit margin: 14% (up from 8.9% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 02
Upcoming dividend of ฿0.12 per share Eligible shareholders must have bought the stock before 09 May 2024. Payment date: 24 May 2024. Payout ratio is a comfortable 66% and this is well supported by cash flows. Trailing yield: 6.7%. Within top quartile of Thai dividend payers (6.0%). In line with average of industry peers (7.2%). Duyuru • Apr 27
Alla Public Company Limited Approves Dividend for the Year 2023, Payable on May 24, 2024 Alla Public Company Limited at its 2024 Annual General Meeting of Shareholders held on April 26, 2024, unanimously approved the suspension of the allocation of net profit as legal reserve, and approved the dividend payment from the operating results of 2023 at the rate of THB 0.12 per share or amounting to THB 72,000,000 to the shareholders. The Company sets the record date on 10 May 2024 and the schedule of the payment date on 24 May 2024. New Risk • Apr 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 6.0% 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 Risk Earnings have declined by 5.0% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.0% average weekly change). Market cap is less than US$100m (฿1.15b market cap, or US$31.3m). Reported Earnings • Feb 24
Full year 2023 earnings released: EPS: ฿0.18 (vs ฿0.089 in FY 2022) Full year 2023 results: EPS: ฿0.18 (up from ฿0.089 in FY 2022). Revenue: ฿846.8m (up 18% from FY 2022). Net income: ฿108.3m (up 104% from FY 2022). Profit margin: 13% (up from 7.4% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Declared Dividend • Feb 24
Dividend increased to ฿0.12 Dividend of ฿0.12 is 71% higher than last year. Ex-date: 9th May 2024 Payment date: 24th May 2024 Dividend yield will be 6.8%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (48% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has increased by an average of 20% per year over the past 7 years. However, payments have been volatile during that time. Earnings per share has grown by 8.0% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 11
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: ฿174.4m (up 21% from 3Q 2022). Net income: ฿25.3m (up 77% from 3Q 2022). Profit margin: 14% (up from 9.9% in 3Q 2022). The increase in margin was driven by higher revenue. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: ฿0.041 (vs ฿0.023 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.041 (up from ฿0.023 in 2Q 2022). Revenue: ฿200.1m (flat on 2Q 2022). Net income: ฿24.5m (up 81% from 2Q 2022). Profit margin: 12% (up from 6.8% in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Board Change • May 24
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. 4 non-independent directors. Independent Director Montri Mahaplerkpong was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • May 03
Upcoming dividend of ฿0.07 per share at 5.0% yield Eligible shareholders must have bought the stock before 10 May 2023. Payment date: 25 May 2023. Payout ratio is on the higher end at 79% but the company is not cash flow positive. Trailing yield: 5.0%. Lower than top quartile of Thai dividend payers (6.3%). Lower than average of industry peers (6.9%). Reported Earnings • Feb 24
Full year 2022 earnings released: EPS: ฿0.089 (vs ฿0.056 in FY 2021) Full year 2022 results: EPS: ฿0.089 (up from ฿0.056 in FY 2021). Revenue: ฿718.9m (up 42% from FY 2021). Net income: ฿53.1m (up 58% from FY 2021). Profit margin: 7.4% (up from 6.7% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • Aug 12
Second quarter 2022 earnings released: EPS: ฿0.023 (vs ฿0.004 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.023 (up from ฿0.004 in 2Q 2021). Revenue: ฿199.1m (up 78% from 2Q 2021). Net income: ฿13.5m (up 441% from 2Q 2021). Profit margin: 6.8% (up from 2.2% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: ฿0.006 (vs ฿0.012 in 1Q 2021) First quarter 2022 results: EPS: ฿0.006 (down from ฿0.012 in 1Q 2021). Revenue: ฿125.4m (up 37% from 1Q 2021). Net income: ฿3.76m (down 48% from 1Q 2021). Profit margin: 3.0% (down from 7.9% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Upcoming Dividend • May 03
Upcoming dividend of ฿0.05 per share Eligible shareholders must have bought the stock before 10 May 2022. Payment date: 25 May 2022. Payout ratio is on the higher end at 89% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Thai dividend payers (5.1%). Lower than average of industry peers (4.8%). Duyuru • Mar 10
Alla Public Company Limited Approves to Propose the Annual General Meeting to Approve Dividend, Payable on May 25, 2022 Alla Public Company Limited approved to propose the Annual General Meeting to approve dividend payment from the operating results of the fiscal year 2021 at the rate of THB 0.05 per share or amounting to THB 30,000,000 to the shareholders. According to the dividend policy, the Company pays dividend at not less than 50% of the Company's net profit. The Company sets the record date on 11 May 2022 and the schedule of the payment date on 25 May 2022. However, the dividend payment must be approved by the 2022 Annual General Meeting. Reported Earnings • Feb 25
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ฿0.056 (down from ฿0.072 in FY 2020). Revenue: ฿505.5m (down 6.7% from FY 2020). Net income: ฿33.7m (down 22% from FY 2020). Profit margin: 6.7% (down from 8.0% in FY 2020). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Duyuru • Feb 25
Alla Public Company Limited, Annual General Meeting, Apr 27, 2022 Alla Public Company Limited, Annual General Meeting, Apr 27, 2022, at 12:00 Indian Standard Time. Agenda: To acknowledge the Company's operations for 2021; to approve the consolidated financial statements for the year ended 31 December 2021; to consider and approve the appropriation of legal reserve and the dividend payment from the operating results of 2021; and to consider the appointment directors who retire. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS ฿0.003 (vs ฿0.013 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿102.1m (down 21% from 3Q 2020). Net income: ฿1.63m (down 79% from 3Q 2020). Profit margin: 1.6% (down from 5.9% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS ฿0.004 (vs ฿0.018 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: ฿111.9m (up 14% from 2Q 2020). Net income: ฿2.50m (down 76% from 2Q 2020). Profit margin: 2.2% (down from 11% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Executive Departure • Jul 13
Independent Chairman of the Board Weerachai Ngamdeevilaisak has left the company On the 30th of June, Weerachai Ngamdeevilaisak's tenure as Independent Chairman of the Board ended. We don't have any record of a personal shareholding under Weerachai's name. Weerachai is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 4.00 years. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improved over the past week After last week's 18% share price gain to ฿2.20, the stock trades at a trailing P/E ratio of 35.9x. Average trailing P/E is 18x in the Trade Distributors industry in Thailand. Total returns to shareholders of 76% over the past three years. Reported Earnings • May 13
First quarter 2021 earnings released: EPS ฿0.012 (vs ฿0.023 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿91.5m (down 27% from 1Q 2020). Net income: ฿7.19m (down 47% from 1Q 2020). Profit margin: 7.9% (down from 11% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 9% per year. Valuation Update With 7 Day Price Move • May 05
Investor sentiment improved over the past week After last week's 24% share price gain to ฿2.10, the stock trades at a trailing P/E ratio of 29.2x. Average trailing P/E is 16x in the Trade Distributors industry in Thailand. Total returns to shareholders of 36% over the past three years. Upcoming Dividend • May 03
Upcoming dividend of ฿0.07 per share Eligible shareholders must have bought the stock before 10 May 2021. Payment date: 25 May 2021. Trailing yield: 4.0%. Lower than top quartile of Thai dividend payers (4.8%). Higher than average of industry peers (3.5%). Duyuru • Apr 29
Alla Public Company Limited Approves Dividend Payment, Payment Date on 25 May 2021 Alla Public Company Limited approved the dividend payment from the profit of the operating results of the fiscal year 2020 at the rate of THB 0.07 per share or amounting to THB 42,000,000 to the shareholders. The Company sets the record date on 11 May 2021 and the schedule of the payment date on 25 May 2021. Reported Earnings • Feb 24
Full year 2020 earnings released: EPS ฿0.072 (vs ฿0.17 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿542.0m (down 37% from FY 2019). Net income: ฿43.1m (down 57% from FY 2019). Profit margin: 8.0% (down from 12% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 11
New 90-day high: ฿1.31 The company is up 13% from its price of ฿1.16 on 13 November 2020. The Thai market is up 14% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Trade Distributors industry, which is also up 13% over the same period. Is New 90 Day High Low • Dec 07
New 90-day high: ฿1.20 The company is up 2.0% from its price of ฿1.18 on 08 September 2020. The Thai market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Trade Distributors industry, which is down 4.0% over the same period. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS ฿0.013 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿129.2m (down 38% from 3Q 2019). Net income: ฿7.56m (down 76% from 3Q 2019). Profit margin: 5.9% (down from 15% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings.