New Risk • Mar 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 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 24% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (฿2.27b market cap, or US$70.1m). Reported Earnings • Mar 01
Full year 2025 earnings released: ฿0.026 loss per share (vs ฿0.065 profit in FY 2024) Full year 2025 results: ฿0.026 loss per share (down from ฿0.065 profit in FY 2024). Revenue: ฿5.19b (down 20% from FY 2024). Net loss: ฿103.1m (down 141% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 36% per year whereas the company’s share price has fallen by 32% per year. Declared Dividend • Feb 28
Dividend reduced to ฿0.015 Dividend of ฿0.015 is 35% lower than last year. Ex-date: 10th March 2026 Payment date: 6th May 2026 Dividend yield will be 3.3%, which is lower than the industry average of 5.3%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (9% cash payout ratio). The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. Duyuru • Feb 26
Ubon Bio Ethanol Public Company Limited Proposes Cash Dividend for the Fiscal Year Ended 31 December 2025, Payable on 06 May 2026 Ubon Bio Ethanol Public Company Limited at its Annual General Meeting of Shareholders to be held on 7 April 2026, proposed cash dividend payment for the fiscal year ended 31 December 2025, performance at a rate of THB 0.0153 per share, totaling THB 59,888,576. Payment date is 06 May 2026. Record date for the right to receive dividends is 11 March 2026. Ex-dividend date is 10 March 2026. Duyuru • Feb 25
Ubon Bio Ethanol Public Company Limited, Annual General Meeting, Apr 07, 2026 Ubon Bio Ethanol Public Company Limited, Annual General Meeting, Apr 07, 2026, at 15:00 SE Asia Standard Time. Reported Earnings • Nov 11
Third quarter 2025 earnings released: EPS: ฿0.003 (vs ฿0.025 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.003 (down from ฿0.025 in 3Q 2024). Revenue: ฿1.28b (down 19% from 3Q 2024). Net income: ฿10.9m (down 89% from 3Q 2024). Profit margin: 0.9% (down from 6.3% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has fallen by 34% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 14
Second quarter 2025 earnings released: ฿0.033 loss per share (vs ฿0.011 profit in 2Q 2024) Second quarter 2025 results: ฿0.033 loss per share (down from ฿0.011 profit in 2Q 2024). Revenue: ฿1.31b (down 17% from 2Q 2024). Net loss: ฿128.1m (down 405% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 32% per year whereas the company’s share price has fallen by 36% per year. Reported Earnings • May 16
First quarter 2025 earnings released: EPS: ฿0.015 (vs ฿0.027 in 1Q 2024) First quarter 2025 results: EPS: ฿0.015 (down from ฿0.027 in 1Q 2024). Revenue: ฿1.44b (down 24% from 1Q 2024). Net income: ฿57.3m (down 47% from 1Q 2024). Profit margin: 4.0% (down from 5.7% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 35% per year whereas the company’s share price has fallen by 36% per year. Duyuru • Apr 24
Ubon Bio Ethanol Public Company Limited Approves Dividend Payment for 2024 Ubon Bio Ethanol Public Company Limited Approved the allocation of earnings for the year 2024 as a legal reserve in the amount of THB 6,605,702 and the dividend payment for the 2024 performance at a rate of THB 0.0236 per share, totaling THB 92,377,150, representing a dividend payout ratio of 70% of the net profit from the separate financial statements, which is in accordance with the Company's dividend payment policy. The dividend will be paid from profits subject to a corporate income tax rate of 0%, resulting in shareholders being unable to claim a tax credit on the dividends received. The resolution was passed by a majority vote of the shareholders who attended the meeting and cast their votes. Declared Dividend • Mar 01
Dividend increased to ฿0.024 Dividend of ฿0.024 is 51% higher than last year. Ex-date: 12th March 2025 Payment date: 22nd May 2025 Dividend yield will be 4.5%, which is lower than the industry average of 5.3%. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 74% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.4% EPS decline seen over the last 5 years. Duyuru • Mar 01
Ubon Bio Ethanol Public Company Limited Proposes Cash Dividend for Operating Period from 01-January-2024 to 31-December-2024, Payable on May 22, 2025 Ubon Bio Ethanol Public Company Limited proposed Cash dividend payment THB 0.0236 per share, Par value THB 1.00 for Operating period from 01-January-2024 to 31-December-2024. Record date for the right to receive dividends 13-March-2025, Ex-dividend date 12-March-2025 and Payable on May 22, 2025. Shareholder's meeting date 22-April-2025. Reported Earnings • Feb 28
Full year 2024 earnings released: EPS: ฿0.065 (vs ฿0.025 loss in FY 2023) Full year 2024 results: EPS: ฿0.065 (up from ฿0.025 loss in FY 2023). Revenue: ฿6.47b (up 11% from FY 2023). Net income: ฿253.2m (up ฿349.8m from FY 2023). Profit margin: 3.9% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. 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 38% per year, which means it has not declined as severely as earnings. Duyuru • Feb 27
Ubon Bio Ethanol Public Company Limited, Annual General Meeting, Apr 22, 2025 Ubon Bio Ethanol Public Company Limited, Annual General Meeting, Apr 22, 2025, at 16:00 SE Asia Standard Time. Location: the meeting room, sindhorn tower, wireless road, lumpini sub-district, pathumwan district, bangkok., Thailand New Risk • Feb 27
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 Risk Earnings have declined by 0.5% 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 (7.0% average weekly change). Market cap is less than US$100m (฿1.96b market cap, or US$57.7m). New Risk • Feb 06
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: 3.1% 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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.5% 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. Market cap is less than US$100m (฿2.19b market cap, or US$65.1m). Duyuru • Jan 06
Ubon Bio Ethanol Public Company Limited Announces Resignation of Kittiphong Limsuwannarot as the Director Ubon Bio Ethanol Public Company Limited informed that Mr. Kittiphong Limsuwannarot as the director, the authorized director and the director of the Risk Management and Sustainability Committee has resigned from his positions. The resignation will be effective from December 31, 2024. Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: ฿0.025 (vs ฿0.005 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.025 (up from ฿0.005 in 3Q 2023). Revenue: ฿1.58b (up 10.0% from 3Q 2023). Net income: ฿99.6m (up 381% from 3Q 2023). Profit margin: 6.3% (up from 1.4% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: ฿0.011 (vs ฿0.027 loss in 2Q 2023) Second quarter 2024 results: EPS: ฿0.011 (up from ฿0.027 loss in 2Q 2023). Revenue: ฿1.58b (up 26% from 2Q 2023). Net income: ฿42.1m (up ฿148.7m from 2Q 2023). Profit margin: 2.7% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Reported Earnings • May 08
First quarter 2024 earnings released: EPS: ฿0.027 (vs ฿0.007 loss in 1Q 2023) First quarter 2024 results: EPS: ฿0.027 (up from ฿0.007 loss in 1Q 2023). Revenue: ฿1.89b (up 26% from 1Q 2023). Net income: ฿107.6m (up ฿133.8m from 1Q 2023). Profit margin: 5.7% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Duyuru • Apr 30
Ubon Bio Ethanol Public Company Limited Approves Dividend for the Year Ended December 31, 2023, Payable on May 15, 2024 Ubon Bio Ethanol Public Company Limited at the Annual General Meeting of Shareholders held on 30 April 2024, approved to make dividend payment out of the Company's separate net profit for the year ended December 31, 2023 to the shareholders at the rate of THB 0.0156 per share for 3,914,286,000 shares, totaling THB 61,062,862. The date to determine the names of the shareholders entitled to the dividend payment (Record Date) is on March 20, 2024 and the date of dividend payment is on May 15, 2024. Upcoming Dividend • Mar 12
Upcoming dividend of ฿0.016 per share Eligible shareholders must have bought the stock before 19 March 2024. Payment date: 15 May 2024. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 1.9%. Lower than top quartile of Thai dividend payers (5.9%). Lower than average of industry peers (6.2%). Declared Dividend • Feb 23
Dividend reduced to ฿0.016 Dividend of ฿0.016 is 61% lower than last year. Ex-date: 19th March 2024 Payment date: 15th May 2024 Dividend yield will be 1.9%, which is lower than the industry average of 5.3%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not covered by cash flows (137% cash payout ratio). The dividend has decreased over the past 26 years, indicating a lack of growth and stability in payments. Duyuru • Feb 22
Ubon Bio Ethanol Public Company Limited, Annual General Meeting, Apr 30, 2024 Ubon Bio Ethanol Public Company Limited, Annual General Meeting, Apr 30, 2024, at 14:00 SE Asia Standard Time. Agenda: To Acknowledge the Directors' Report on the Company's 2023 Performance;to Approve the Company's Audited Financial Statement for the Year Ended December 31, 2023;to Approve the Allocation of Earning Appropriations and Dividend Payment;to Approve the Appointment of the Directors Replace those Retired by Rotation;to Approve the Directors' Remuneration for the Year 2024;to Approve the Appointment of the Auditors and Fixing the Audit Fee for the Year 2024. Duyuru • Feb 21
Ubon Bio Ethanol Public Company Limited Announces Dividend Payment, Payable on May 15, 2024 Ubon Bio Ethanol Public Company Limited to make dividend payment out of the Company's separate net profit for the year 2023 to the shareholders at the rate of THB 0. 0156 per share for 3,914,286,000 shares, totaling THB 61,062,862 on May 15, 2024; and To set March 20, 2024 as the date to determine names of the shareholders entitled to the dividend payment (Record Date). However, shareholders entitled to receive the dividend are subjected to the approval of the 2024 Annual General Meeting of Shareholders. Reported Earnings • Feb 21
Full year 2023 earnings released: ฿0.025 loss per share (vs ฿0.084 profit in FY 2022) Full year 2023 results: ฿0.025 loss per share (down from ฿0.084 profit in FY 2022). Revenue: ฿5.84b (down 19% from FY 2022). Net loss: ฿96.6m (down 129% from profit in FY 2022). Reported Earnings • Nov 16
Third quarter 2023 earnings released: EPS: ฿0.005 (vs ฿0.005 loss in 3Q 2022) Third quarter 2023 results: EPS: ฿0.005 (up from ฿0.005 loss in 3Q 2022). Revenue: ฿1.43b (down 19% from 3Q 2022). Net income: ฿20.7m (up ฿40.7m from 3Q 2022). Profit margin: 1.4% (up from net loss in 3Q 2022). The move to profitability was driven by lower expenses. New Risk • Oct 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ฿3.68b (US$99.6m) This is considered a minor 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 Risk Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk Market cap is less than US$100m (฿3.68b market cap, or US$99.6m). Duyuru • Sep 23
Ubon Bio Ethanol Public Company Limited Announces Appointment of Chanyawat Watthanaphongsaphat as Company Secretary Ubon Bio Ethanol Public Company Limited informed that the Board of Directors' Meeting No. 5/2023, on September 21, 2023 had resolution to appoint Ms. Chanyawat Watthanaphongsaphat, to be the Company Secretary, effective from September 21, 2023 onwards. New Risk • Aug 16
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 4.2% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 16
Second quarter 2023 earnings released: ฿0.027 loss per share (vs ฿0.021 profit in 2Q 2022) Second quarter 2023 results: ฿0.027 loss per share (down from ฿0.021 profit in 2Q 2022). Revenue: ฿1.25b (down 31% from 2Q 2022). Net loss: ฿106.6m (down 227% from profit in 2Q 2022). Duyuru • Jul 15
Ubon Bio Ethanol Public Company Limited Announces Change of Company Secretary Ubon Bio Ethanol Public Company Limited announced that Ms. Chawandhorn Muangmee has resigned from the position of the Company Secretary effective from July 17, 2023 onwards. The Board of Directors' Meeting No. 3/2023, on July 13, 2023 had resolution to appoint Ms. Sureeyot Khowsurat, director and Chief Executive Officer, to be the acting Company Secretary, effective from July 17, 2023 onwards. Upcoming Dividend • Mar 10
Upcoming dividend of ฿0.04 per share at 2.8% yield Eligible shareholders must have bought the stock before 17 March 2023. Payment date: 15 May 2023. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Thai dividend payers (5.6%). Lower than average of industry peers (6.9%). Price Target Changed • Nov 16
Price target decreased to ฿2.50 Down from ฿2.75, the current price target is an average from 2 analysts. New target price is 58% above last closing price of ฿1.58. Stock is down 23% over the past year. The company is forecast to post earnings per share of ฿0.12 for next year compared to ฿0.11 last year. Price Target Changed • Nov 11
Price target decreased to ฿2.50 Down from ฿2.75, the current price target is an average from 2 analysts. New target price is 57% above last closing price of ฿1.59. Stock is down 19% over the past year. The company is forecast to post earnings per share of ฿0.12 for next year compared to ฿0.11 last year. Duyuru • Oct 01
Ubon Bio Ethanol Public Company Limited Announces Board Changes Ubon Bio Ethanol Public Company Limited informed that Mr. Wirat Uanarumit has resigned from the directorship of the Company, effective from September 30, 2022 onwards. Duyuru • Aug 13
Ubon Bio Ethanol Public Company Limited Announces Change of the Company's Branch Office Address (Bangkok Office) Ubon Bio Ethanol Public Company Limited would like to inform that from August 15, 2022 onwards, the Company's Bangkok Office (Branch Office) will be change its address as the following details: Bangkok Office - Existing Address: 123 Sun Tower, Tower A, Floor 21, Room 2105, Vibhavadi Rangsit Road, Chom Phon, Chatuchak Bangkok 10900. Bangkok Office - New Address: 130-132 Sindhorn Tower 2, 7th Floor, Wireless Road, Lumpini, Pathumwan, Bangkok 10330. Duyuru • Jun 23
Ubon Bio Ethanol Public Company Limited Announces Resignation of Suttida Sukhanindr as Director Ubon Bio Ethanol Public Company Limited announced that the Board of Directors' Meeting No. 5/2022 dated June 20, 2022 acknowledged the resignation of Mrs. Suttida Sukhanindr from the director of the Company, effective on June 13, 2022. Buying Opportunity • Jun 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be ฿2.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 63% over the last year. Earnings per share has grown by 222%. Revenue is forecast to decline by 4.0% in 2 years. Earnings is forecast to grow by 35% in the next 2 years. Reported Earnings • May 16
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: ฿0.03 (up from ฿0.02 in 1Q 2021). Revenue: ฿1.54b (up 4.4% from 1Q 2021). Net income: ฿115.6m (up 117% from 1Q 2021). Profit margin: 7.5% (up from 3.6% in 1Q 2021). Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 26%. Over the next year, revenue is expected to shrink by 11% compared to a 13% growth forecast for the industry in Thailand. Duyuru • Apr 20
Ubon Bio Ethanol Public Company Limited, Annual General Meeting, Apr 27, 2022 Ubon Bio Ethanol Public Company Limited, Annual General Meeting, Apr 27, 2022, at 14:00 SE Asia Standard Time. Reported Earnings • Feb 24
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: ฿0.10 (up from ฿0.036 in FY 2020). Revenue: ฿6.97b (up 57% from FY 2020). Net income: ฿320.9m (up 223% from FY 2020). Profit margin: 4.6% (up from 2.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 20%. Earnings per share (EPS) also surpassed analyst estimates by 26%. Over the next year, revenue is expected to shrink by 4.6% compared to a 9.8% growth forecast for the oil industry in Thailand. Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment improved over the past week After last week's 23% share price gain to ฿2.38, the stock trades at a trailing P/E ratio of 39.6x. Average forward P/E is 11x in the Oil and Gas industry in Thailand. Duyuru • Oct 02
Ubon Bio Ethanol Public Company Limited has completed an IPO in the amount of THB 3.288 billion. Ubon Bio Ethanol Public Company Limited has completed an IPO in the amount of THB 3.288 billion.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 1,370,000,000
Price\Range: THB 2.4