New Risk • Mar 19
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿198.6m (US$6.04m) 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 Less than 1 year of cash runway based on free cash flow trend (-฿89m free cash flow). Share price has been highly volatile over the past 3 months (56% average weekly change). Earnings have declined by 93% per year over the past 5 years. Market cap is less than US$10m (฿198.6m market cap, or US$6.04m). Reported Earnings • Mar 03
Full year 2025 earnings released: ฿0.10 loss per share (vs ฿0.002 loss in FY 2024) Full year 2025 results: ฿0.10 loss per share (further deteriorated from ฿0.002 loss in FY 2024). Revenue: ฿5.77b (up 40% from FY 2024). Net loss: ฿2.06b (loss widened ฿2.01b from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 122 percentage points per year, which is a significant difference in performance. Duyuru • Feb 27
TWZ Corporation Public Company Limited, Annual General Meeting, Apr 21, 2026 TWZ Corporation Public Company Limited, Annual General Meeting, Apr 21, 2026, at 10:00 SE Asia Standard Time. New Risk • Jan 15
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿198.6m (US$6.33m) 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 (0.1x net interest cover). Share price has been highly volatile over the past 3 months (58% average weekly change). Earnings have declined by 60% per year over the past 5 years. Market cap is less than US$10m (฿198.6m market cap, or US$6.33m). Reported Earnings • Nov 16
Third quarter 2025 earnings released: ฿0.017 loss per share (vs ฿0.002 loss in 3Q 2024) Third quarter 2025 results: ฿0.017 loss per share (further deteriorated from ฿0.002 loss in 3Q 2024). Revenue: ฿1.05b (up 9.0% from 3Q 2024). Net loss: ฿330.4m (loss widened ฿296.6m from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: ฿0 (vs ฿0 in 2Q 2024) Second quarter 2025 results: EPS: ฿0 (in line with 2Q 2024). Revenue: ฿1.28b (up 40% from 2Q 2024). Net income: ฿7.32m (down 21% from 2Q 2024). Profit margin: 0.6% (down from 1.0% in 2Q 2024). 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 72 percentage points per year, which is a significant difference in performance. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: ฿0 (vs ฿0 in 1Q 2024) First quarter 2025 results: EPS: ฿0 (in line with 1Q 2024). Revenue: ฿1.14b (up 11% from 1Q 2024). Net loss: ฿974.0k (down 119% from profit in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 28
Full year 2024 earnings released: ฿0.002 loss per share (vs ฿0.001 profit in FY 2023) Full year 2024 results: ฿0.002 loss per share (down from ฿0.001 profit in FY 2023). Revenue: ฿4.14b (up 15% from FY 2023). Net loss: ฿48.6m (down 270% from profit in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 38 percentage points per year, which is a significant difference in performance. Duyuru • Feb 27
TWZ Corporation Public Company Limited, Annual General Meeting, Apr 18, 2025 TWZ Corporation Public Company Limited, Annual General Meeting, Apr 18, 2025, at 10:00 SE Asia Standard Time. Location: broadcasting live from twz corporation public comp, limited located at 269 ratchadaphisek road, ratchadaphisek sub-district, din daeng district, bangkok Thailand Reported Earnings • Nov 15
Third quarter 2024 earnings released: ฿17.00 loss per share (vs ฿0 in 3Q 2023) Third quarter 2024 results: ฿17.00 loss per share (further deteriorated from ฿0 in 3Q 2023). Revenue: ฿969.0m (up 9.4% from 3Q 2023). Net loss: ฿33.9m (down ฿42.2m from profit in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 38% per year whereas the company’s share price has fallen by 35% per year. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: ฿0.001 (vs ฿0 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.001 (up from ฿0 in 2Q 2023). Revenue: ฿914.8m (up 5.5% from 2Q 2023). Net income: ฿9.26m (up 107% from 2Q 2023). Profit margin: 1.0% (up from 0.5% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. New Risk • Jun 05
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: 0.6% Last year net profit margin: 0.9% 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (39% average weekly change). Earnings have declined by 3.8% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.6% net profit margin). Market cap is less than US$100m (฿794.4m market cap, or US$21.7m). Reported Earnings • May 16
First quarter 2024 earnings released: EPS: ฿0 (vs ฿0.001 in 1Q 2023) First quarter 2024 results: EPS: ฿0 (down from ฿0.001 in 1Q 2023). Revenue: ฿1.03b (up 14% from 1Q 2023). Net income: ฿5.09m (down 59% from 1Q 2023). Profit margin: 0.5% (down from 1.4% in 1Q 2023). 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 25% per year, which means it is significantly lagging earnings. Duyuru • May 15
TWZ Corporation Public Company Limited Announces Board Changes TWZ Corporation Public Company Limited at its board meeting held on May 13, 2024 approved the appointment of, with effect from May 13, 2024 onwards, Mr. Somchai Phatharayunyong as Director to replace Mr. Pat Lapanun who resigned from his position as Director will be up to other businesses which results in his capacity to perform as the Director of the Company. Duyuru • May 01
TWZ Corporation Public Company Limited Approves Appointment of Pongcharn Samphongern as Director TWZ Corporation Public Company Limited at its AGM held on April 30, 2024, approved the appointment of Mr. Pongcharn Samphongern as director. Reported Earnings • Mar 02
Full year 2023 earnings released: EPS: ฿0.001 (vs ฿0.001 in FY 2022) Full year 2023 results: EPS: ฿0.001 (in line with FY 2022). Revenue: ฿3.61b (up 5.9% from FY 2022). Net income: ฿28.5m (up 9.7% from FY 2022). Profit margin: 0.8% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 18
Third quarter 2023 earnings released: EPS: ฿0 (vs ฿0 in 3Q 2022) Third quarter 2023 results: EPS: ฿0 (in line with 3Q 2022). Revenue: ฿892.4m (flat on 3Q 2022). Net income: ฿8.32m (up 186% from 3Q 2022). Profit margin: 0.9% (up from 0.3% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 16
Second quarter 2023 earnings released: EPS: ฿0 (vs ฿0 in 2Q 2022) Second quarter 2023 results: EPS: ฿0 (in line with 2Q 2022). Revenue: ฿870.0m (up 3.3% from 2Q 2022). Net income: ฿4.48m (down 11% from 2Q 2022). Profit margin: 0.5% (down from 0.6% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • May 18
First quarter 2023 earnings released: EPS: ฿0.001 (vs ฿0 in 1Q 2022) First quarter 2023 results: EPS: ฿0.001 (up from ฿0 in 1Q 2022). Revenue: ฿909.8m (up 9.1% from 1Q 2022). Net income: ฿12.3m (up 56% from 1Q 2022). Profit margin: 1.3% (up from 0.9% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Board Change • Feb 09
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 Montree Kailerdsin was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 19
Third quarter 2022 earnings released: EPS: ฿1.01 (vs ฿0.001 in 3Q 2021) Third quarter 2022 results: EPS: ฿1.01. Revenue: ฿895.4m (up 17% from 3Q 2021). Net income: ฿2.91m (down 66% from 3Q 2021). Profit margin: 0.3% (down from 1.1% in 3Q 2021). The decrease in margin was driven by higher expenses. Reported Earnings • Aug 16
Second quarter 2022 earnings released Second quarter 2022 results: Net income: ฿5.05m (up 158% from 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Reported Earnings • May 19
First quarter 2022 earnings released: EPS: ฿0 (vs ฿0 in 1Q 2021) First quarter 2022 results: EPS: ฿0 (vs ฿0 in 1Q 2021). Revenue: ฿841.3m (down 3.3% from 1Q 2021). Net income: ฿7.88m (up 60% from 1Q 2021). Profit margin: 0.9% (up from 0.6% in 1Q 2021). The increase in margin 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 67 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Montree Kailerdsin 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. Lack of board continuity. Reported Earnings • Mar 02
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ฿0.003 (up from ฿0.001 loss in FY 2020). Revenue: ฿3.45b (up 5.2% from FY 2020). Net income: ฿38.8m (up ฿46.3m from FY 2020). Profit margin: 1.1% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Executive Departure • May 26
Independent Director has left the company On the 14th of May, Pachara Pacharavanich's tenure as Independent Director ended after 7.5 years in the role. We don't have any record of a personal shareholding under Pachara's name. A total of 3 executives have left over the last 12 months. Reported Earnings • Feb 27
Full year 2020 earnings released: ฿0.001 loss per share (vs ฿0.005 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: ฿3.30b (down 12% from FY 2019). Net loss: ฿7.50m (down 118% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 18
Third quarter 2020 earnings released: EPS ฿0.001 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: ฿772.3m (down 17% from 3Q 2019). Net income: ฿4.78m (up 28% from 3Q 2019). Profit margin: 0.6% (up from 0.4% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings.