Price Target Changed • Jun 13
Price target decreased by 13% to ฿5.60 Down from ฿6.40, the current price target is an average from 2 analysts. New target price is 12% above last closing price of ฿5.00. Stock is up 32% over the past year. The company is forecast to post earnings per share of ฿0.68 for next year compared to ฿0.56 last year. Reported Earnings • May 14
First quarter 2026 earnings released: EPS: ฿0.15 (vs ฿0.13 in 1Q 2025) First quarter 2026 results: EPS: ฿0.15 (up from ฿0.13 in 1Q 2025). Revenue: ฿5.55b (down 6.8% from 1Q 2025). Net income: ฿246.3m (up 14% from 1Q 2025). Profit margin: 4.4% (up from 3.6% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Building industry in Asia. Major Estimate Revision • Apr 11
Consensus revenue estimates fall by 17% The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from ฿25.1b to ฿20.8b. EPS estimate fell from ฿0.697 to ฿0.57 per share. Net income forecast to grow 1.2% next year vs 23% growth forecast for Building industry in Thailand. Consensus price target down from ฿6.40 to ฿6.23. Share price was steady at ฿4.90 over the past week. Upcoming Dividend • Mar 20
Upcoming dividend of ฿0.19 per share Eligible shareholders must have bought the stock before 27 March 2026. Payment date: 20 April 2026. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 7.5%. Within top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (6.7%). Duyuru • Jan 28
SCG Decor Public Company Limited Announces Board Changes, Effective January 26, 2026 SCG Decor Public Company Limited announced that the Board of Directors Meeting on January 26, 2026 has resolved to appoint Mr. Chaovalit Ekabut, Director, as an independent director. As a result, the title of Mr. Chaovalit Ekabut on SCGD's Board of Directors will be changed from "Director" to "Independent Director", effective from January 26, 2026. Mr. Chaovalit Ekabut is fully qualified as independent director according to the Notification of the Capital Market Supervisory Board No. TorJor. 39/2559 Re: Application and Approval for the Offering for Sale of New Shares and SCGD's own qualifications of independent directors. In addition, the Board of Directors Meeting resolved to cancel the position of Lead Independent Director, effective from the date of the resolution. Therefore, the name and title of SCGD's directors after the change is: Mr. Lucksananoi Punkrasamee- Independent Director, Chairman of the Audit and Risk Management Committee. Declared Dividend • Jan 28
Final dividend of ฿0.19 announced Shareholders will receive a dividend of ฿0.19. Ex-date: 27th March 2026 Payment date: 20th April 2026 Dividend yield will be 6.9%, which is higher than the industry average of 6.1%. Sustainability & Growth Dividend is well covered by both earnings (50% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has decreased over the past 26 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 37% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 27
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: ฿0.56 (up from ฿0.49 in FY 2024). Revenue: ฿22.7b (down 11% from FY 2024). Net income: ฿931.8m (up 15% from FY 2024). Profit margin: 4.1% (up from 3.2% in FY 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 6.5%. Earnings per share (EPS) also missed analyst estimates by 9.7%. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Building industry in Asia. Reported Earnings • Oct 28
Third quarter 2025 earnings released: EPS: ฿0.18 (vs ฿0.12 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.18 (up from ฿0.12 in 3Q 2024). Revenue: ฿5.64b (down 9.6% from 3Q 2024). Net income: ฿304.4m (up 61% from 3Q 2024). Profit margin: 5.4% (up from 3.0% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Building industry in Asia. Major Estimate Revision • Oct 10
Consensus revenue estimates decrease by 10% The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from ฿27.0b to ฿24.3b. EPS estimate unchanged at ฿0.62 per share. Net income forecast to grow 54% next year vs 31% growth forecast for Building industry in Thailand. Consensus price target broadly unchanged at ฿6.40. Share price was steady at ฿4.88 over the past week. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ฿4.74, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 16x in the Building industry in Asia. Total loss to shareholders of 26% over the past year. Simply Wall St's valuation model estimates the intrinsic value at ฿3.60 per share. Buy Or Sell Opportunity • Jul 31
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to ฿4.64. The fair value is estimated to be ฿3.66, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last year. Meanwhile, the company has become profitable. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 85% in the next 2 years. Reported Earnings • Jul 30
Second quarter 2025 earnings released: EPS: ฿0.13 (vs ฿0.17 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.13 (down from ฿0.17 in 2Q 2024). Revenue: ฿5.77b (down 12% from 2Q 2024). Net income: ฿222.6m (down 22% from 2Q 2024). Profit margin: 3.9% (down from 4.3% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Building industry in Asia. New Risk • Jul 22
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 5.0% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Apr 25
First quarter 2025 earnings released: EPS: ฿0.13 (vs ฿0.16 in 1Q 2024) First quarter 2025 results: EPS: ฿0.13 (down from ฿0.16 in 1Q 2024). Revenue: ฿5.96b (down 12% from 1Q 2024). Net income: ฿216.7m (down 16% from 1Q 2024). Profit margin: 3.6% (down from 3.8% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Building industry in Asia. Buy Or Sell Opportunity • Apr 17
Now 21% overvalued Over the last 90 days, the stock has fallen 10% to ฿4.00. The fair value is estimated to be ฿3.31, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.5% over the last 3 years. Earnings per share has grown by 54%. For the next 3 years, revenue is forecast to grow by 4.9% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Duyuru • Mar 25
SCG Decor Public Company Limited Approves Final Dividend Payment for 2024, Payable on April 23, 2025 SCG Decor Public Company Limited at its AGM held on March 24, 2025 has approved the profit allocation for the 2024 dividend payment at a rate of THB 0.20 per share, totaling THB 330 million. An interim dividend of THB 0.10 per share, totaling THB 165 million, was already paid on August 2, 2024. The final dividend of THB 0.10 per share, totaling THB 165 million, will be payable to shareholders recorded as of April 1, 2025. The ex-dividend date is March 31, 2025, and the payment date is set for April 23, 2025. The dividend payment is derived from profit subject to a 20% corporate income tax, allowing natural person shareholders a tax credit equal to the product of the dividend times 20/80. Upcoming Dividend • Mar 24
Upcoming dividend of ฿0.10 per share Eligible shareholders must have bought the stock before 31 March 2025. Payment date: 23 April 2025. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Thai dividend payers (7.6%). In line with average of industry peers (5.2%). Buy Or Sell Opportunity • Mar 05
Now 23% overvalued Over the last 90 days, the stock has fallen 27% to ฿4.06. The fair value is estimated to be ฿3.31, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.5% over the last 3 years. Earnings per share has grown by 54%. For the next 3 years, revenue is forecast to grow by 4.9% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Declared Dividend • Jan 31
Dividend of ฿0.10 announced Shareholders will receive a dividend of ฿0.10. Ex-date: 31st March 2025 Payment date: 23rd April 2025 Dividend yield will be 4.7%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is well covered by both earnings (45% earnings payout ratio) and cash flows (30% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. EPS is expected to grow by 39% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Jan 29
SCG Decor Public Company Limited Proposes Dividend for the Year 2024, Payable on April 23, 2025 SCG Decor Public Company Limited proposed for approval at the Annual General Meeting of Shareholders the dividend payment for 2024 at the rate of THB 0.20 share, totaling THB 330 million, accounting for 41% of profit for the year on the consolidated financial statements and conforming to the Company's dividend payment policy. Of this amount, THB 0.10 share, totaling THB 165 million was paid as an interim dividend on August 22, 2024. The final dividend shall be payable at THB 0.10 share, totaling THB 165 million. Such dividend payment was derived from the profit which was subject to corporate income tax of 20%. Therefore, a natural person shareholder shall be entitled to a tax credit1 equal to the product of dividend times 20/80. The said dividend payment shall be payable to the shareholders entitled to receive dividend in accordance with the Company's Articles of Association, of record as of Tuesday, April 1, 2025 (The Stock Exchange of Thailand shall post the "XD" sign or the date on which the buyer of securities shall have no rights to receive dividend on Monday, March 31, 2025). The dividend shall be payable on Wednesday, April 23, 2025, and the receipt of such dividend shall be within 10 years, at the AGM to be held on March 24, 2025. Reported Earnings • Jan 29
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ฿0.49 (up from ฿0.28 in FY 2023). Revenue: ฿25.6b (down 9.7% from FY 2023). Net income: ฿809.9m (up 147% from FY 2023). Profit margin: 3.2% (up from 1.2% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Building industry in Asia. Duyuru • Jan 29
SCG Decor Public Company Limited, Annual General Meeting, Mar 24, 2025 SCG Decor Public Company Limited, Annual General Meeting, Mar 24, 2025, at 14:30 SE Asia Standard Time. Location: electronics meeting (e-meetings), Thailand Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: ฿0.11 (vs ฿0.19 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.11 (down from ฿0.19 in 3Q 2023). Revenue: ฿6.24b (down 13% from 3Q 2023). Net income: ฿189.0m (down 17% from 3Q 2023). Profit margin: 3.0% (down from 3.2% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Building industry in Asia. Upcoming Dividend • Jul 29
Upcoming dividend of ฿0.10 per share Eligible shareholders must have bought the stock before 05 August 2024. Payment date: 22 August 2024. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 47%. Within top quartile of Thai dividend payers (6.8%). Higher than average of industry peers (15%). Reported Earnings • Jul 24
Second quarter 2024 earnings released: EPS: ฿0.17 (vs ฿0.12 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.17 (up from ฿0.12 in 2Q 2023). Revenue: ฿6.57b (down 7.0% from 2Q 2023). Net income: ฿283.9m (up 109% from 2Q 2023). Profit margin: 4.3% (up from 1.9% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Building industry in Asia. Reported Earnings • Apr 23
First quarter 2024 earnings released: EPS: ฿0.16 (vs ฿0.19 loss in 1Q 2023) First quarter 2024 results: EPS: ฿0.16 (up from ฿0.19 loss in 1Q 2023). Revenue: ฿6.78b (down 6.6% from 1Q 2023). Net income: ฿257.4m (up ฿439.7m from 1Q 2023). Profit margin: 3.8% (up from net loss in 1Q 2023). The move to profitability was driven by lower expenses. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Building industry in Asia. Reported Earnings • Jan 25
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: ฿0.28 (up from ฿5.32 loss in FY 2022). Revenue: ฿28.3b (down 20% from FY 2022). Net income: ฿327.7m (up ฿748.8m from FY 2022). Profit margin: 1.2% (up from net loss in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 22%. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Building industry in Asia. Duyuru • Jan 23
SCG Decor Public Company Limited Proposes Dividend Payment for 2023, Payable on April 22, 2024 SCG Decor Public Company Limited proposed for approval at the Annual General Meeting of Shareholders the dividend payment for 2023 at the rate of THB 0.15 per share, totaling THB 247.5 million, accounting for 47% of the consolidated net profit for the year excluding the loss on disposal of investment in subsidiaries as a part of the restructuring less legal reserve, derived from the profits. The said dividend payment shall be payable to the shareholders entitled to receive dividend in accordance with the Company's Articles of Association, of record as of April 2, 2024 (The Stock Exchange of Thailand shall post the "XD" sign or the date on which the buyer of securities shall have no rights to receive dividend on April 1, 2024). The dividend shall be payable on April 22, 2024, and the receipt of such dividend shall be within 10 years.