On July 23, after the morning session closed, the share price of SISB Public Company Limited (SET: SISB) increased by THB 0.70 or 4.67% to THB 15.7 per share, with a trading value of THB 24.63 million.
After analyzing the SISB’s 2Q25 performance trend, Krungsri Securities has a neutral view on the stock and estimated that the business would generate a net profit of THB 226 million, a 8% increase YoY but 5% decrease QoQ. The growth from previous year’s performance is likely due to the rise of revenue from tuition fees.
Krungsri Securities anticipated that SISB’s revenue from tuition fees would grow by 11% YoY but decreased by 1% QoQ. The company’s schools, excluding the Chiang Mai campus, have seen a rise in their student numbers by 6% YoY and 1% QoQ. Meanwhile, its average tuition fees also increased by 3% YoY, but decreased by 2% QoQ.
Regarding the possible decrease of SISB’s net profit when compared to the previous quarter, Krungsri Securities cited the slight decline in revenue. Since the company’s extracurricular activity amount in the third semester has shrunk compared to other semesters, the tuition fees are expected to drop. Furthermore, the securities company estimated that the company’s SG&A expenses would increase by 10% YoY and 5% QoQ as staff expenses increased.
Krungsri Securities recommended a “BUY” rating, with a target price of THB 27 per share, due to the following factors. First, SISB’s growth aligns with increasing numbers of students and campuses Second, a 3-year (2025-2027) CAGR profit growth of 15%, excluding the seventh campus in the calculation, which is expected to start enrolling in August 2026.
