Loading...

You're on the old version of Simply Wall St. We will no longer be supporting this site, so we recommend you switch to our brand new platform.

Tipco Asphalt

DB:TPY1
Snowflake Description

Flawless balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TPY1
DB
฿28B
Market Cap
  1. Home
  2. DE
  3. Materials
Company description

Tipco Asphalt Public Company Limited, together with its subsidiaries, manufactures and distributes asphalt and petroleum products in Thailand and internationally. The last earnings update was 53 days ago. More info.


Add to Portfolio Compare Print
  • Tipco Asphalt has significant price volatility in the past 3 months.
TPY1 Share Price and Events
7 Day Returns
5.3%
DB:TPY1
6.6%
Europe Basic Materials
2.1%
DE Market
1 Year Returns
12.2%
DB:TPY1
-26.7%
Europe Basic Materials
-16.6%
DE Market
TPY1 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tipco Asphalt (TPY1) 5.3% -9.8% -9.8% 12.2% -33.7% 30%
Europe Basic Materials 6.6% -18.2% -32.2% -26.7% -36.7% -34%
DE Market 2.1% -12.6% -22.9% -16.6% -21.9% -27.8%
1 Year Return vs Industry and Market
  • TPY1 outperformed the Basic Materials industry which returned -26.7% over the past year.
  • TPY1 outperformed the Market in Germany which returned -16.6% over the past year.
Price Volatility
TPY1
Industry
5yr Volatility vs Market

TPY1 Value

 Is Tipco Asphalt undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Tipco Asphalt to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Tipco Asphalt.

DB:TPY1 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.6%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:TPY1
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 7.5%
Basic Materials Unlevered Beta Simply Wall St/ S&P Global 0.82
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.817 (1 + (1- 20%) (14.5%))
0.941
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.94
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.941 * 7.46%)
6.63%

Discounted Cash Flow Calculation for DB:TPY1 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Tipco Asphalt is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:TPY1 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (THB, Millions) Source Present Value
Discounted (@ 6.63%)
2020 4,784.59 Analyst x2 4,487.03
2021 5,419.64 Analyst x2 4,766.48
2022 3,352.40 Analyst x1 2,765.02
2023 3,125.92 Est @ -6.76% 2,417.88
2024 2,974.44 Est @ -4.85% 2,157.63
2025 2,870.07 Est @ -3.51% 1,952.43
2026 2,796.21 Est @ -2.57% 1,783.89
2027 2,742.57 Est @ -1.92% 1,640.85
2028 2,702.53 Est @ -1.46% 1,516.34
2029 2,671.75 Est @ -1.14% 1,405.84
Present value of next 10 years cash flows ฿24,893.00
DB:TPY1 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ฿2,671.75 × (1 + -0.39%) ÷ (6.63% – -0.39%)
฿37,902.03
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ฿37,902.03 ÷ (1 + 6.63%)10
฿19,943.59
DB:TPY1 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ฿24,893.00 + ฿19,943.59
฿44,836.59
Equity Value per Share
(THB)
= Total value / Shares Outstanding
= ฿44,836.59 / 1,577.43
฿28.42
DB:TPY1 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:TPY1 represents 0.0267x of SET:TASCO
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.0267x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (THB) x Listing Adjustment Factor
= ฿ 28.42 x 0.0267
€0.76
Value per share (EUR) From above. €0.76
Current discount Discount to share price of €0.48
= -1 x (€0.48 - €0.76) / €0.76
37%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Tipco Asphalt is available for.
Intrinsic value
37%
Share price is €0.478 vs Future cash flow value of €0.75903
Current Discount Checks
For Tipco Asphalt to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Tipco Asphalt's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Tipco Asphalt's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Tipco Asphalt's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tipco Asphalt's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:TPY1 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in THB ฿1.98
SET:TASCO Share Price ** SET (2020-04-07) in THB ฿17.9
Europe Basic Materials Industry PE Ratio Median Figure of 33 Publicly-Listed Basic Materials Companies 9.52x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 16.83x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Tipco Asphalt.

DB:TPY1 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SET:TASCO Share Price ÷ EPS (both in THB)

= 17.9 ÷ 1.98

9.03x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tipco Asphalt is good value based on earnings compared to the Europe Basic Materials industry average.
  • Tipco Asphalt is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Tipco Asphalt's expected growth come at a high price?
Raw Data
DB:TPY1 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.03x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
-5.2%per year
Europe Basic Materials Industry PEG Ratio Median Figure of 17 Publicly-Listed Basic Materials Companies 1.67x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

DB:TPY1 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.03x ÷ -5.2%

-1.73x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tipco Asphalt earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Tipco Asphalt's assets?
Raw Data
DB:TPY1 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in THB ฿8.50
SET:TASCO Share Price * SET (2020-04-07) in THB ฿17.9
Europe Basic Materials Industry PB Ratio Median Figure of 39 Publicly-Listed Basic Materials Companies 0.85x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.45x
DB:TPY1 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SET:TASCO Share Price ÷ Book Value per Share (both in THB)

= 17.9 ÷ 8.50

2.11x

* Primary Listing of Tipco Asphalt.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tipco Asphalt is overvalued based on assets compared to the Europe Basic Materials industry average.
X
Value checks
We assess Tipco Asphalt's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Basic Materials industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Basic Materials industry average (and greater than 0)? (1 check)
  5. Tipco Asphalt has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

TPY1 Future Performance

 How is Tipco Asphalt expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-5.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Tipco Asphalt expected to grow at an attractive rate?
  • Tipco Asphalt's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Tipco Asphalt's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Tipco Asphalt's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:TPY1 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:TPY1 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts -5.2%
DB:TPY1 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts -0.9%
Europe Basic Materials Industry Earnings Growth Rate Market Cap Weighted Average 4.7%
Europe Basic Materials Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:TPY1 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in THB Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:TPY1 Future Estimates Data
Date (Data in THB Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 35,720 4,663 2,334 2
2021-12-31 35,731 4,597 2,960 6
2020-12-31 34,611 3,451 2,826 6
2020-04-07
DB:TPY1 Past Financials Data
Date (Data in THB Millions) Revenue Cash Flow Net Income *
2019-12-31 36,893 6,323 3,123
2019-09-30 36,895 4,452 2,616
2019-06-30 34,478 612 1,910
2019-03-31 29,460 -931 978
2018-12-31 27,632 -2,621 564
2018-09-30 24,596 -909 986
2018-06-30 22,728 883 1,381
2018-03-31 25,173 2,862 1,604
2017-12-31 28,260 2,355 2,537
2017-09-30 28,880 2,774 2,915
2017-06-30 28,587 2,121 2,830
2017-03-31 25,951 2,107 3,175

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Tipco Asphalt's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Tipco Asphalt's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:TPY1 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Tipco Asphalt Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:TPY1 Future Estimates Data
Date (Data in THB Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 1.49 1.49 1.49 1.00
2021-12-31 1.89 2.13 1.72 6.00
2020-12-31 1.82 1.93 1.68 5.00
2020-04-07
DB:TPY1 Past Financials Data
Date (Data in THB Millions) EPS *
2019-12-31 1.98
2019-09-30 1.66
2019-06-30 1.21
2019-03-31 0.62
2018-12-31 0.36
2018-09-30 0.63
2018-06-30 0.88
2018-03-31 1.03
2017-12-31 1.63
2017-09-30 1.87
2017-06-30 1.82
2017-03-31 2.05

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Tipco Asphalt is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Tipco Asphalt's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Tipco Asphalt has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

TPY1 Past Performance

  How has Tipco Asphalt performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Tipco Asphalt's growth in the last year to its industry (Basic Materials).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Tipco Asphalt's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Tipco Asphalt's 1-year earnings growth exceeds its 5-year average (453.3% vs -15.1%)
  • Tipco Asphalt's earnings growth has exceeded the Europe Basic Materials industry average in the past year (453.3% vs 20.8%).
Earnings and Revenue History
Tipco Asphalt's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Tipco Asphalt Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:TPY1 Past Revenue, Cash Flow and Net Income Data
Date (Data in THB Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 36,892.97 3,123.28 1,254.88
2019-09-30 36,895.44 2,615.58 1,239.15
2019-06-30 34,477.73 1,909.76 1,292.03
2019-03-31 29,460.09 978.06 1,336.61
2018-12-31 27,631.92 564.47 1,352.51
2018-09-30 24,595.97 986.00 1,439.86
2018-06-30 22,727.93 1,380.93 1,340.58
2018-03-31 25,172.96 1,603.79 1,244.73
2017-12-31 28,260.33 2,537.11 1,224.36
2017-09-30 28,879.93 2,915.28 1,243.11
2017-06-30 28,587.11 2,829.76 1,179.30
2017-03-31 25,950.70 3,174.84 1,180.72
2016-12-31 24,229.08 3,110.13 1,151.82
2016-09-30 26,190.00 3,360.01 1,072.32
2016-06-30 30,633.43 4,497.51 1,229.54
2016-03-31 35,567.63 5,125.70 1,303.48
2015-12-31 37,223.37 5,078.76 1,321.99
2015-09-30 39,081.59 4,416.80 1,280.17
2015-06-30 41,153.48 3,388.16 1,186.02
2015-03-31 41,960.90 2,072.55 1,058.67
2014-12-31 45,727.31 1,200.43 963.01
2014-09-30 43,661.95 629.53 852.29
2014-06-30 41,048.04 492.68 793.33
2014-03-31 37,920.80 675.73 753.63
2013-12-31 33,934.92 831.45 765.66
2013-09-30 35,051.84 1,344.34 787.07
2013-06-30 36,123.88 1,131.36 748.91

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Tipco Asphalt has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Tipco Asphalt used its assets more efficiently than the Europe Basic Materials industry average last year based on Return on Assets.
  • Tipco Asphalt's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Tipco Asphalt's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Basic Materials industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Tipco Asphalt has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

TPY1 Health

 How is Tipco Asphalt's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Tipco Asphalt's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tipco Asphalt is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Tipco Asphalt's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Tipco Asphalt's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 3.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Tipco Asphalt Company Filings, last reported 3 months ago.

DB:TPY1 Past Debt and Equity Data
Date (Data in THB Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 13,578.66 4,093.79 1,999.42
2019-09-30 13,147.06 4,766.17 1,627.21
2019-06-30 13,087.65 5,745.90 1,512.66
2019-03-31 12,623.68 6,796.42 1,705.77
2018-12-31 12,537.10 7,154.59 1,103.71
2018-09-30 11,785.76 6,606.47 847.01
2018-06-30 12,066.59 4,551.71 674.85
2018-03-31 12,959.50 3,843.36 1,571.67
2017-12-31 12,929.24 2,571.27 1,025.41
2017-09-30 12,665.36 3,608.12 1,087.34
2017-06-30 12,770.33 2,584.33 904.13
2017-03-31 13,294.43 3,368.93 852.20
2016-12-31 12,265.07 2,641.15 1,333.23
2016-09-30 11,191.53 3,937.85 1,296.86
2016-06-30 11,405.17 2,808.06 1,645.32
2016-03-31 11,420.03 4,129.57 1,906.08
2015-12-31 10,564.49 2,544.70 1,353.52
2015-09-30 9,517.65 3,804.14 484.04
2015-06-30 8,428.03 3,195.70 561.07
2015-03-31 7,205.01 4,711.46 517.70
2014-12-31 6,125.02 7,122.99 276.99
2014-09-30 5,787.89 10,633.71 447.16
2014-06-30 5,384.41 11,532.04 490.85
2014-03-31 5,359.66 11,076.96 381.89
2013-12-31 5,890.94 12,315.35 495.43
2013-09-30 5,809.68 8,720.61 450.10
2013-06-30 5,662.92 8,120.45 432.08
  • Tipco Asphalt's level of debt (30.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (115.6% vs 30.1% today).
  • Debt is well covered by operating cash flow (154.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 14.3x coverage).
X
Financial health checks
We assess Tipco Asphalt's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Tipco Asphalt has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

TPY1 Dividends

 What is Tipco Asphalt's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.47%
Current annual income from Tipco Asphalt dividends. Estimated to be 6.63% next year.
If you bought €2,000 of Tipco Asphalt shares you are expected to receive €89 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Tipco Asphalt's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.67%).
  • Tipco Asphalt's dividend is below the markets top 25% of dividend payers in Germany (4.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:TPY1 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
Europe Basic Materials Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 4.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.7%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:TPY1 Future Dividends Estimate Data
Date (Data in ฿) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.90 1.00
2021-12-31 1.26 5.00
2020-12-31 1.17 5.00
2020-04-07
DB:TPY1 Past Annualized Dividends Data
Date (Data in ฿) Dividend per share (annual) Avg. Yield (%)
2019-11-08 0.800 3.938
2019-08-13 0.800 3.897
2019-02-14 0.300 1.682
2018-02-14 1.200 7.586
2017-08-09 0.900 4.010
2017-02-15 0.900 3.722
2016-02-17 0.900 4.059
2015-11-13 0.500 1.385
2015-02-19 0.200 1.091
2014-11-14 0.200 2.788
2014-08-14 0.000 0.000
2014-05-14 0.000 0.000
2014-04-16 0.000 0.000
2014-02-20 0.000 0.000
2013-11-14 0.200 3.865
2013-10-15 0.200 3.314
2013-08-14 0.200 3.724
2013-05-15 0.000 0.000
2013-05-14 0.000 0.000
2013-02-18 0.000 0.000
2012-05-11 0.125 2.875
2012-02-13 0.125 2.582
2012-01-16 0.125 2.511
2009-11-16 0.000 0.000
2009-08-14 0.000 0.000
2009-05-14 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tipco Asphalt has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Tipco Asphalt only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Tipco Asphalt's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.9x coverage).
X
Income/ dividend checks
We assess Tipco Asphalt's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Tipco Asphalt afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tipco Asphalt has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

TPY1 Management

 What is the CEO of Tipco Asphalt's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Chaiwat Srivalwat
COMPENSATION ฿580,000
AGE 59
TENURE AS CEO 1.3 years
CEO Bio

Mr. Chaiwat Srivalwat serves as Managing Director of Tasco - Thailand/China/Malaysia/Cambodia at Colas SA. Mr. Srivalwat serves as the Chief Executive Officer of Tipco Asphalt Public Company Limited since 2019. Mr. Srivalwat had been the Managing Director at Tipco Asphalt Public Co. Ltd, since 2002 until 2019. He served as Acting Company Secretary of Tipco Asphalt Public Co. Ltd, from June 1, 2015 to August 13, 2015. He served as a General Manager of Tipco Asphalt (Tasco) of Thailand of Asia Division of Colas S.A. He served as Senior Operations Manager of Tipco Asphalt PCL from 1990 to 1996. He served as Marketing Director of Tipco Asphalt PCL from 1996 to 2002. He has been working in bitumen business with Tipco Asphalt for over 23 years. At Tipco Asphalt, he served as Plant Manager since 1983, Senior Plant Manager since 1993, Senior Marketing Manager since 1995 and Marketing Director since 1998 until 2002. He serves as a Director of Kemaman Bitumen Company Sdn Bhd. He has been an Executive Director of Tipco Asphalt Public Co. Ltd. since February 13, 2002. Mr. Srivalwat holds a Bachelor of Engineering degree from the Liverpool University (England) and is a graduate member of Thai Institute of Directors Association (IOD) since September 2003.

CEO Compensation
  • Chaiwat's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Chaiwat's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Tipco Asphalt management team in years:

6.3
Average Tenure
58.5
Average Age
  • The average tenure for the Tipco Asphalt management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Chaiwat Srivalwat

TITLE
CEO & Director
COMPENSATION
฿580K
AGE
59
TENURE
1.3 yrs

Sitilarb Supsakorn

TITLE
Executive Director
COMPENSATION
฿500K
AGE
68

Jacques Pastor

TITLE
Executive Director
COMPENSATION
฿560K
AGE
64

Jacques Marechal

TITLE
Director of Finance & International Legal Affairs and Executive Director
COMPENSATION
฿580K
AGE
53
TENURE
9.3 yrs

Koh Huat

TITLE
Chief Financial Officer
AGE
59
TENURE
6.3 yrs

Suphat Pipitawan

TITLE
Director of Operations
AGE
49
TENURE
4.3 yrs

Auchcha Rattrakultip

TITLE
Director of Finance
AGE
72
TENURE
18.3 yrs

Udomporn Punpatch

TITLE
Director of Human Resource
AGE
58
TENURE
9.3 yrs

Hugues Emmanuel De Champs De Saint-Leger

TITLE
Chief Operating Officer of International Wholesale
AGE
50
TENURE
6.3 yrs

Thierry Alain Defrene

TITLE
Chief Operating Officer of International Trading & Business Development
AGE
49
TENURE
3.3 yrs
Board of Directors Tenure

Average tenure and age of the Tipco Asphalt board of directors in years:

11.1
Average Tenure
65.5
Average Age
  • The average tenure for the Tipco Asphalt board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Laksana Supsakorn

TITLE
Chairman
COMPENSATION
฿813K
AGE
66
TENURE
2.2 yrs

Chaiwat Srivalwat

TITLE
CEO & Director
COMPENSATION
฿580K
AGE
59
TENURE
18.2 yrs

Chainoi Puankosoom

TITLE
Independent Vice Chairman
COMPENSATION
฿1M
AGE
68
TENURE
2.2 yrs

Sitilarb Supsakorn

TITLE
Executive Director
COMPENSATION
฿500K
AGE
68
TENURE
18.9 yrs

Jacques Pastor

TITLE
Executive Director
COMPENSATION
฿560K
AGE
64
TENURE
19.7 yrs

Jacques Marechal

TITLE
Director of Finance & International Legal Affairs and Executive Director
COMPENSATION
฿580K
AGE
53
TENURE
8 yrs

Somchit Sertthin

TITLE
Independent Director
COMPENSATION
฿500K
AGE
67
TENURE
26 yrs

Nopporn Thepsitthar

TITLE
Independent Director
COMPENSATION
฿1M
AGE
65
TENURE
8 yrs

Phirasilp Subhapholsiri

TITLE
Independent Director
COMPENSATION
฿1M
AGE
66
TENURE
6.9 yrs

Niphon Suthimai

TITLE
Independent Director
COMPENSATION
฿625K
AGE
61
TENURE
14.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Tipco Asphalt's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Tipco Asphalt has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

TPY1 News

Simply Wall St News

TPY1 Company Info

Description

Tipco Asphalt Public Company Limited, together with its subsidiaries, manufactures and distributes asphalt and petroleum products in Thailand and internationally. The company offers asphalt cement, cutback asphalt, asphalt emulsions, modified asphalt emulsion, and premium grade asphalt products; special products, including premixes, joint sealers, joint primers, jet fuel resistant joint sealants, and binders for tropical bridges; and industrial lubricants. It also engages in shipping management and agency, and marine transportation activities. The company owns and operates 10 oceangoing asphalt vessels; and delivers its products through its own fleet of approximately 300 trucks. Tipco Asphalt Public Company Limited was founded in 1979 and is headquartered in Bangkok, Thailand.

Details
Name: Tipco Asphalt Public Company Limited
TPY1
Exchange: DB
Founded: 1979
฿791,689,143
1,577,426,570
Website: http://www.tipcoasphalt.com
Address: Tipco Asphalt Public Company Limited
Tipco Tower,
24th Floor,
Bangkok,
10400,
Thailand
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SET TASCO Ordinary Shares The Stock Exchange of Thailand TH THB 02. Jan 1992
DB TPY1 THB1(ALIEN MKT) Deutsche Boerse AG DE EUR 27. Feb 1992
SET TASCO-R NON VTG DEP RCPT REP 1 ORD THB10 The Stock Exchange of Thailand TH THB 20. Aug 2001
DB NVP5 NON VTG DEP RCPT REP 1 ORD THB10 Deutsche Boerse AG DE EUR 20. Aug 2001
THAMSE TASCO-F THB1(ALIEN MKT) Bangkok-Alien Market Stock Exchange TH THB 27. Feb 1992
Number of employees
Current staff
Staff numbers
0
Tipco Asphalt employees.
Industry
Construction Materials
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 22:48
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/03/13
Last earnings filing: 2020/02/14
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.