New Risk • May 12
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿323.8m (US$9.98m) 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 Interest payments are not well covered by earnings (1.6x net interest cover). Share price has been highly volatile over the past 3 months (12% average weekly change). Market cap is less than US$10m (฿323.8m market cap, or US$9.98m). Minor Risk Profit margins are more than 30% lower than last year (0.9% net profit margin). New Risk • Mar 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 10% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.6x net interest cover). Share price has been highly volatile over the past 3 months (10% average weekly change). Market cap is less than US$10m (฿261.3m market cap, or US$8.04m). Minor Risk Profit margins are more than 30% lower than last year (0.9% net profit margin). Buy Or Sell Opportunity • Mar 02
Now 21% undervalued Over the last 90 days, the stock has risen 6.7% to ฿0.32. The fair value is estimated to be ฿0.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years, while earnings per share has been flat. Declared Dividend • Mar 02
Dividend reduced to ฿0.01 Dividend of ฿0.01 is 43% lower than last year. Ex-date: 13th March 2026 Payment date: 6th May 2026 Dividend yield will be 3.0%, which is lower than the industry average of 3.3%. Sustainability & Growth Dividend is not covered by earnings (383% earnings payout ratio). However, it is well covered by cash flows (31% cash payout ratio). The dividend has decreased over the past 66 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 325% to bring the payout ratio under control. However, EPS has declined by 19% over the last 5 years so the company would need to reverse this trend. Duyuru • Feb 28
STC Concrete Product Public Company Limited announces Annual dividend, payable on May 06, 2026 STC Concrete Product Public Company Limited announced Annual dividend of THB 0.0100 per share payable on May 06, 2026, ex-date on March 13, 2026 and record date on March 16, 2026. Duyuru • Feb 27
STC Concrete Product Public Company Limited, Annual General Meeting, Apr 07, 2026 STC Concrete Product Public Company Limited, Annual General Meeting, Apr 07, 2026, at 10:00 SE Asia Standard Time. Location: head office`s meeting room of stc concrete, product public company limited no 220/26 moo 6, naklua sub-district, bang lamung district, chonburi province, 20150, Thailand Duyuru • Jan 20
STC Concrete Product Public Company Limited Announces Change of Chief Accountant, Effective 19 January 2026 STC Concrete Product Public Company Limited announced the termination of Miss Ounyard Nuanlamai as Deputy Manager of Accounting and Finance, Effective Date of Termination is on 19 January 2026 and announced the appointment of Miss Hasuk Saowimol as Deputy Manager of Accounting and Finance, Effective Date of Appointment on 19 January 2026. New Risk • Nov 15
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 Risks Interest payments are not well covered by earnings (1.5x net interest cover). Market cap is less than US$10m (฿193.1m market cap, or US$5.96m). Minor Risks Dividend is not well covered by earnings (383% payout ratio). Share price has been volatile over the past 3 months (6.0% average weekly change). Profit margins are more than 30% lower than last year (0.5% net profit margin). Reported Earnings • Nov 14
Third quarter 2025 earnings released: ฿0.003 loss per share (vs ฿0.011 profit in 3Q 2024) Third quarter 2025 results: ฿0.003 loss per share (down from ฿0.011 profit in 3Q 2024). Revenue: ฿129.6m (down 19% from 3Q 2024). Net loss: ฿1.64m (down 125% from profit in 3Q 2024). 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 23% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 09
Second quarter 2025 earnings released: ฿0.009 loss per share (vs ฿0.003 profit in 2Q 2024) Second quarter 2025 results: ฿0.009 loss per share (down from ฿0.003 profit in 2Q 2024). Revenue: ฿116.5m (down 6.1% from 2Q 2024). Net loss: ฿5.07m (down 410% from profit in 2Q 2024). 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 19% per year, which means it is significantly lagging earnings. New Risk • Jun 25
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 8.8% 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 (2.8x net interest cover). Earnings have declined by 19% per year over the past 5 years. Market cap is less than US$10m (฿255.6m market cap, or US$7.83m). Minor Risks Dividend is not well covered by cash flows (99% cash payout ratio). Share price has been volatile over the past 3 months (8.8% average weekly change). Reported Earnings • May 14
First quarter 2025 earnings released: EPS: ฿0.002 (vs ฿0.004 loss in 1Q 2024) First quarter 2025 results: EPS: ฿0.002 (up from ฿0.004 loss in 1Q 2024). Revenue: ฿133.4m (up 12% from 1Q 2024). Net income: ฿1.09m (up ฿3.24m from 1Q 2024). Profit margin: 0.8% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Upcoming Dividend • Feb 28
Upcoming dividend of ฿0.018 per share Eligible shareholders must have bought the stock before 07 March 2025. Payment date: 02 May 2025. The company last paid an ordinary dividend in February 2020. The average dividend yield among industry peers is 5.0%. Reported Earnings • Feb 25
Full year 2024 earnings released: EPS: ฿0.025 (vs ฿0.017 in FY 2023) Full year 2024 results: EPS: ฿0.025 (up from ฿0.017 in FY 2023). Revenue: ฿560.8m (up 4.2% from FY 2023). Net income: ฿14.2m (up 48% from FY 2023). Profit margin: 2.5% (up from 1.8% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Duyuru • Aug 17
STC Concrete Product Public Company Limited (SET:STC) agreed to acquire remaining 45% stake in STC Premier Precast Co Ltd from Premier Precast & Design Co., Ltd. and Suriyapoom Rujichai. STC Concrete Product Public Company Limited (SET:STC) agreed to acquire remaining 45% stake in STC Premier Precast Co Ltd from Premier Precast & Design Co., Ltd. and Suriyapoom Rujichai on August 9, 2024. Upon completion, STC Concrete Product Public Company Limited will own 100% stake in STC Premier Precast Co Ltd. The deal has been approved by the board of STC Concrete Product Public Company Limited (SET:STC). Reported Earnings • Aug 11
Second quarter 2024 earnings released: EPS: ฿0.003 (vs ฿0.014 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.003 (down from ฿0.014 in 2Q 2023). Revenue: ฿124.0m (down 13% from 2Q 2023). Net income: ฿1.63m (down 80% from 2Q 2023). Profit margin: 1.3% (down from 5.8% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • May 10
First quarter 2024 earnings released: ฿0.004 loss per share (vs ฿0.004 profit in 1Q 2023) First quarter 2024 results: ฿0.004 loss per share (down from ฿0.004 profit in 1Q 2023). Revenue: ฿119.4m (up 7.0% from 1Q 2023). Net loss: ฿2.15m (down 207% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Duyuru • Apr 03
STC Concrete Product Public Company Limited Approves Non-Payment of Dividend for the Operating Result on 31 December 2023 STC Concrete Product Public Company Limited at the Annual General Meeting of Shareholders held on 3 April 2024 approved the non-payment of dividend for the operating result on 31 December 2023. Duyuru • Mar 27
STC Concrete Product Public Company Limited Announces Chief Accountant Changes STC Concrete Product Public Company Limited announced the change of Chief Accountant. The company announced the termination of Miss Sirirat Jitaree as Deputy Manager of Accounting and Finance, effective March 26, 2024. The company announced the appointment of Miss Nittaya Somkana as Deputy Manager of Accounting and Finance, effective March 26, 2024. Reported Earnings • Nov 16
Third quarter 2023 earnings released: EPS: ฿0.001 (vs ฿0.003 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.001 (down from ฿0.003 in 3Q 2022). Revenue: ฿145.6m (up 28% from 3Q 2022). Net income: ฿345.0k (down 83% from 3Q 2022). Profit margin: 0.2% (down from 1.7% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Board Change • Sep 01
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 2 experienced directors. No highly experienced directors. Independent Director Kiattipong Nakorn is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Duyuru • Aug 11
STC Concrete Product Public Company Limited Announces Board Changes STC Concrete Product Public Company Limited at its board meeting held on 9 August 2023, resolved to acknowledge the resignation of Mr. Narongrit Tavornvisitporn, the President, an Independent Director and a member of the Audit Committee due to the personal reasons which may result in being unable to fully perform duties, and the resignation will be effective on 10 August 2023 onwards, and resolved to appoint Mr. Potchara Puwatananusorn as an Independent Director and a new member of the Audit Committee in place of such resigned member of the Audit Committee. Therefore, after the adjustment in the Audit Committee, the Member of the Audit Committees shall be as: Mr. Somchai Lerdsakviman: The Chairman of the Audit Committee; Mr. Natthapong Limkhunpong: Member of the Audit Committee and Mr. Potchara Puwatananusorn: Member of the Audit Committee. The aforesaid appointment shall be effective from 10 August 2023 onwards, and the scope of duties and responsibilities shall remain unchanged. Reported Earnings • Aug 11
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: ฿30.2m (down 71% from 2Q 2022). Net income: ฿6.19m (up ฿8.16m from 2Q 2022). Profit margin: 21% (up from net loss in 2Q 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Reported Earnings • May 19
First quarter 2023 earnings released: EPS: ฿0.004 (vs ฿0.003 loss in 1Q 2022) First quarter 2023 results: EPS: ฿0.004 (up from ฿0.003 loss in 1Q 2022). Revenue: ฿111.6m (up 10% from 1Q 2022). Net income: ฿2.02m (up ฿4.00m from 1Q 2022). Profit margin: 1.8% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 110 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Mar 02
Upcoming dividend of ฿0.025 per share at 3.2% yield Eligible shareholders must have bought the stock before 09 March 2023. Payment date: 08 May 2023. Trailing yield: 3.2%. Lower than top quartile of Thai dividend payers (5.7%). In line with average of industry peers (3.2%). Reported Earnings • Feb 26
Full year 2022 earnings released: EPS: ฿0.002 (vs ฿0.005 in FY 2021) Full year 2022 results: EPS: ฿0.002 (down from ฿0.005 in FY 2021). Revenue: ฿436.4m (up 3.3% from FY 2021). Net income: ฿1.33m (down 56% from FY 2021). Profit margin: 0.3% (down from 0.7% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 113 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 20
Third quarter 2022 earnings released: EPS: ฿0.003 (vs ฿0.001 loss in 3Q 2021) Third quarter 2022 results: EPS: ฿0.003 (up from ฿0.001 loss in 3Q 2021). Revenue: ฿114.2m (up 9.2% from 3Q 2021). Net income: ฿1.99m (up ฿2.69m from 3Q 2021). Profit margin: 1.7% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Board Change • Nov 16
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 2 experienced directors. No highly experienced directors. Independent Director Kiattipong Nakorn is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 09
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: ฿0.003 loss per share (down from ฿0.003 profit in 1Q 2021). Revenue: ฿101.3m (down 1.8% from 1Q 2021). Net loss: ฿1.98m (down 202% from profit in 1Q 2021). Revenue exceeded analyst estimates by 5.9%. Earnings per share (EPS) missed analyst estimates. Board Change • Apr 27
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 2 experienced directors. No highly experienced directors. Independent Director Kiattipong Nakorn is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 17
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: ฿0.005 (down from ฿0.026 in FY 2020). Revenue: ฿422.3m (flat on FY 2020). Net income: ฿3.01m (down 80% from FY 2020). Profit margin: 0.7% (down from 3.5% in FY 2020). Revenue exceeded analyst estimates by 5.9%. Earnings per share (EPS) missed analyst estimates by 9.2%. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS ฿0.024 (vs ฿0.012 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: ฿98.3m (up 1.1% from 2Q 2020). Net income: ฿1.13m (down 84% from 2Q 2020). Profit margin: 1.2% (down from 7.2% in 2Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • May 17
First quarter 2021 earnings released: EPS ฿0.003 (vs ฿0.015 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿103.2m (down 21% from 1Q 2020). Net income: ฿1.95m (down 77% from 1Q 2020). Profit margin: 1.9% (down from 6.5% in 1Q 2020). The decrease in margin was driven by lower revenue. Valuation Update With 7 Day Price Move • Apr 27
Investor sentiment improved over the past week After last week's 25% share price gain to ฿1.01, the stock trades at a trailing P/E ratio of 39x. Average trailing P/E is 20x in the Basic Materials industry in Thailand. Total returns to shareholders of 70% over the past year. Is New 90 Day High Low • Mar 12
New 90-day high: ฿0.72 The company is up 7.0% from its price of ฿0.67 on 09 December 2020. The Thai market is also up 7.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Basic Materials industry, which is down 2.0% over the same period. Reported Earnings • Feb 18
Full year 2020 earnings released: EPS ฿0.026 (vs ฿0.059 in FY 2019) The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: ฿420.8m (flat on FY 2019). Net income: ฿14.7m (down 43% from FY 2019). Profit margin: 3.5% (down from 6.1% in FY 2019). Reported Earnings • Nov 12
Third quarter 2020 earnings released: ฿0.004 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: ฿83.5m (down 22% from 3Q 2019). Net loss: ฿2.33m (down 126% from profit in 3Q 2019). Is New 90 Day High Low • Nov 11
New 90-day low: ฿0.66 The company is down 16% from its price of ฿0.79 on 13 August 2020. The Thai market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is down 5.0% over the same period.