SVOA Public Company Limited

Yuanta Securities estimates that SVOA will report strong second-quarter 2026 results, both quarter-on-quarter and year-on-year, mainly supported by the gradual recognition of revenue from the Ministry of Education's teaching equipment rental project worth 3.6 billion baht. Nearly all of this is expected to be recognised this quarter, after 20 percent was recognised in the first quarter. The research team forecasts full-year 2026 profit at 280 million baht, up 29 percent from the previous year, representing earnings per share of 0.34 baht. At the current price, the stock trades at a 2026 price-to-earnings ratio of just 6.9 times. In addition, SVOA has hidden assets from its stakes in IT and LIT worth over 1.067 billion baht, plus cash of 651 million baht. Deducting these from its market capitalisation would lower the 2026 price-to-earnings ratio to just 2.5 times. The dividend yield is expected to be around 6 percent per year. An additional positive factor is its exclusive distributorship of Ubitech humanoid robots, which will help create a new S-curve for the company.