Fact based stock research
True Corporation (SET:TRUE)

TH0375010Z06

How to read the ranks

For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

True Corporation stock research in summary

investor.truecorp.co.th

ANALYSIS: With an Obermatt Combined Rank of 4 (worse than 96% compared with investment alternatives), True Corporation (Integrated Telecommunication, Thailand) shares have lower financial characteristics compared with similar stocks. Shares of True Corporation are low in value (priced high) with a consolidated Value Rank of 14 (worse than 86% of alternatives), show below-average growth (Growth Rank of 41), and are riskily financed (Safety Rank of 6), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 4, is a sell recommendation based on True Corporation's financial characteristics. As the company True Corporation's key financial metrics all exhibit below-average performance, such as low value (Obermatt Value Rank of 14), low growth (Obermatt Growth Rank of 41), and risky financing practices (Obermatt Safety Rank of 6), it is a somewhat questionable stock investment, where the risk of paying too much for the shares is significant, unless the company has an exceptionally bright future. Such poor financial performance sometimes indicates that the company's business is all concentrated in some distant future. This is sometimes the case for high-tech or biotechnology companies. If they own properties that only provide cash flows in the future, the stock may look excessively expensive and risky today. In such cases, the Obermatt Method has limited value as it is based on facts we can observe today. If the facts are all in the future, stock investing becomes guesswork, and this should only be a driver in a limited number of investments that should only amount to a small fraction of a safe portfolio. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	14
Growth Rank	41
Safety Rank	6
Combined Rank	4

Country	Thailand
Industry	Integrated Telecommunication
Index	SET, Low Emissions, Good Governace Growth Markets, Telecommunications
Size class	X-Large

18-Apr-2024. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

Why popular stocks have low ratings

It’s easier said than done. When your stock drops, it’s easy to want to sell it and find a better performer. Think twice, or even three times, before trading. Those fees (especially the hidden ones) can eat up your gains.

Review the performance ranks of the individual metrics that form each investment strategy.

Research History: True Corporation

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	36	65	54	14
GROWTH
GROWTH	69	9	1	41
SAFETY
SAFETY	3	4	8	6
SENTIMENT
SENTIMENT	n/a	36	12	^new
360° VIEW
360° VIEW	n/a	7	4	^new

Most recent update of the stock research: 18-Apr-2024. Financial reporting date used for calculating ranks: 31-Dec-2023. Stock research history is based on the Obermatt Method. The higher the rank, the better True Corporation is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	36	65	54	14
GROWTH
GROWTH	69	9	1	41
SAFETY
SAFETY	3	4	8	6
COMBINED
COMBINED	12	12	6	4

Last update of combined financial performance: 18-Apr-2024. Stock analysis on combined financial performance: The higher the rank of True Corporation the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 14 (worse than 86% compared with alternatives), True Corporation shares are significantly more expensive than comparable stocks. The Value Rank is based on consolidating four value indicators, where the majority of metrics are below, and only one is above average for True Corporation. Price-to-Sales (P/S) is 60, which means that the stock price compared with what market professionals expect for future sales is lower than 60% of comparable companies, indicating a good value concerning to True Corporation's revenue size. But all other performance indicators point in a different direction. Dividend yields have a Dividend Yield rank of 23, meaning that dividends are expected to be lower than for 77% of comparable investments. Furthermore, Price-to-Book Capital (also referred to as market-to-book ratio) is less favorable than 85% of alternatives (only 15% of peers have an even higher ratio). The same is valid for Price-to-Profit (or Price / Earnings, P/E), which is higher than for 90% of comparable companies, making the stock more expensive compared with the company's expected profit levels. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 14, is a sell recommendation based on True Corporation's stock price compared with the company's operational size and dividend yields. Since Price-to-Sales is a stable value indicator even in challenging times, investing in True Corporation could be seen as a value investment. However, there must be a good reason for the low market-to-book rank. If the company has a typical capital investment practice, the stock may be overvalued because the profit and dividend-related performance indicators are also low. The stock is only good value if investors can expect profits and dividends to pick up in the future. Else, True Corporation looks like an expensive investment today. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is especially important in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2021	2022	2023	2024
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	68	78	75	60
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	5	4	63	10
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	49	63	53	15
DIVIDEND YIELD
DIVIDEND YIELD	42	25	23	23
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	36	65	54	14

Last update of Value Rank: 18-Apr-2024. Stock analysis on value ratios: The higher the rank, the lower the value ratio of True Corporation; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 41 (better than 41% compared with alternatives), True Corporation shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with three out of four metrics below average for True Corporation. While Profit Growth has a good rank of 86, as professionals currently expect the company to grow its profits more than 86% of its competitors, all other growth indicators are below market averages. Sales Growth has a rank of 4, which means that currently professionals expect the company to grow less than 96% of its competitors, while Capital Growth has a rank of 49 and Stock Returns have been below market median, with a rank of 38 (62% of alternative investments were better). ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 41, is a hold recommendation for growth and momentum investors. While revenue growth and capital growth are good growth momentum indicators, profit is less reliable, because profits may increase due to cost-cutting measures which typically indicate negative growth momentum. "You can save a dollar only once" is the saying about such situations. Growth Investors should look at company priorities closely if they are interested in growth, because the increase in profits is not usually an indicator of growth, and stock prices have been below market, too. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is limited here. ...read more

GROWTH METRICS	2021	2022	2023	2024
REVENUE GROWTH
REVENUE GROWTH	42	31	19	4
PROFIT GROWTH
PROFIT GROWTH	30	1	11	86
CAPITAL GROWTH
CAPITAL GROWTH	n/a	30	32	49
STOCK RETURNS
STOCK RETURNS	85	75	13	38
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	69	9	1	41

Last update of Growth Rank: 18-Apr-2024. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of True Corporation.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 6 (better than 6% compared with alternatives), the company True Corporation has much riskier financing practices than comparable other companies, which means that their overall debt burden is significantly above the industry average. This doesn't mean that the business of True Corporation is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with all three metrics below average for True Corporation. Liquidity is at 10, meaning that the company generates less profit to service its debt than 90% of its competitors. This indicates that the company is on the riskier side when it comes to debt service. Even worse, Leverage is at a rank of 6, meaning the company has an above-average debt-to-equity ratio. It has more debt than 94% of its competitors. Finally, Refinancing is at a rank of 15 which means that the portion of the debt about to be refinanced is above average. It has more debt in the refinancing stage than 85% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 6 (worse than 94% compared with alternatives), True Corporation has a financing structure that is significantly riskier than that of its competitors. This combination is rather dangerous in most situations. Only very promising companies with bright future outlooks and stellar reputations can operate with such risky financing. Investors should look at Obermatt’s Value, Growth, and Sentiment Ranks to confirm a very positive outlook or be careful with investing in stocks of True Corporation because it may suffer significantly in case of future difficulties. ...read more

SAFETY METRICS	2021	2022	2023	2024
LEVERAGE
LEVERAGE	6	14	8	6
REFINANCING
REFINANCING	17	5	11	15
LIQUIDITY
LIQUIDITY	14	18	20	10
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	3	4	8	6

Last update of Safety Rank: 18-Apr-2024. Stock analysis on safety metrics: The higher the rank, the lower the leverage of True Corporation and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2021	2022	2023	2024
ANALYST OPINIONS
ANALYST OPINIONS	n/a	23	51	^new
OPINIONS CHANGE
OPINIONS CHANGE	n/a	50	63	^new
PRO HOLDINGS
PRO HOLDINGS	n/a	30	4	^new
MARKET PULSE
MARKET PULSE	n/a	79	11	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	n/a	36	12	^new

Last update of Sentiment Rank: 18-Apr-2024. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for True Corporation.
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