Samart vs Forth: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Samart Corporation Public Company Limited (SAMART.BK)

Q3 20269 Aug – 24 Sep 2026

▲3

SAMART wins new contracts and rides Thailand's smart-grid spending wave

New contract wins and 20bn baht backlog target SAMART expects to sign over 10 billion baht of new contracts in the second half, lifting its order book from 14 billion to a 20 billion baht target. It also won a 1.1 billion baht substation job. More signed work means more future revenue, which supports the share price.
This is the core new business driver showing concrete contract wins and a rising backlog.
Smart-grid and smart-meter spending pipeline SAMART is already doing about 4 billion baht of PEA smart-meter and battery work, and the government plans a 10-20 billion baht smart-grid pilot. Analysts name SAMART as a likely system integrator. This opens a large, multi-year source of government and utility orders.
It shows a new, large government spending program that directly benefits SAMART's businesses.
Analyst and macro support Yuanta named SAMART a standout stock, and Q2 GDP beat forecasts at 1.9%, with lower inflation easing rate pressure. Bualuang also flagged SAMART in the smart-grid theme. This improves investor sentiment and makes future orders more likely.
It explains the supportive market backdrop and analyst attention that help the stock.
Execution and timing risk The big contract wins and smart-grid budget are still pending or in early stages. If bids fail or government spending is delayed, the backlog target may slip. This is a real counterweight to the positive news.
It gives a fair picture by noting the main risk that could hold the stock back.

September 20269 Aug – 24 Sep 2026

▲3

SAMART wins new contracts and rides Thailand's smart-grid spending wave

New contract wins and 20bn baht backlog target SAMART expects to sign over 10 billion baht of new contracts in the second half, lifting its order book from 14 billion to a 20 billion baht target. It also won a 1.1 billion baht substation job. More signed work means more future revenue, which supports the share price.
This is the core new business driver showing concrete contract wins and a rising backlog.
Smart-grid and smart-meter spending pipeline SAMART is already doing about 4 billion baht of PEA smart-meter and battery work, and the government plans a 10-20 billion baht smart-grid pilot. Analysts name SAMART as a likely system integrator. This opens a large, multi-year source of government and utility orders.
It shows a new, large government spending program that directly benefits SAMART's businesses.
Analyst and macro support Yuanta named SAMART a standout stock, and Q2 GDP beat forecasts at 1.9%, with lower inflation easing rate pressure. Bualuang also flagged SAMART in the smart-grid theme. This improves investor sentiment and makes future orders more likely.
It explains the supportive market backdrop and analyst attention that help the stock.
Execution and timing risk The big contract wins and smart-grid budget are still pending or in early stages. If bids fail or government spending is delayed, the backlog target may slip. This is a real counterweight to the positive news.
It gives a fair picture by noting the main risk that could hold the stock back.

Latest9 Aug – 24 Sep 2026

▲3

SAMART wins new contracts and rides Thailand's smart-grid spending wave

New contract wins and 20bn baht backlog target SAMART expects to sign over 10 billion baht of new contracts in the second half, lifting its order book from 14 billion to a 20 billion baht target. It also won a 1.1 billion baht substation job. More signed work means more future revenue, which supports the share price.
This is the core new business driver showing concrete contract wins and a rising backlog.
Smart-grid and smart-meter spending pipeline SAMART is already doing about 4 billion baht of PEA smart-meter and battery work, and the government plans a 10-20 billion baht smart-grid pilot. Analysts name SAMART as a likely system integrator. This opens a large, multi-year source of government and utility orders.
It shows a new, large government spending program that directly benefits SAMART's businesses.
Analyst and macro support Yuanta named SAMART a standout stock, and Q2 GDP beat forecasts at 1.9%, with lower inflation easing rate pressure. Bualuang also flagged SAMART in the smart-grid theme. This improves investor sentiment and makes future orders more likely.
It explains the supportive market backdrop and analyst attention that help the stock.
Execution and timing risk The big contract wins and smart-grid budget are still pending or in early stages. If bids fail or government spending is delayed, the backlog target may slip. This is a real counterweight to the positive news.
It gives a fair picture by noting the main risk that could hold the stock back.

Forth Corporation Public Company Limited (FORTH.BK)

Q3 20265 Aug – 24 Sep 2026

▲3

FORTH profit surges on EMS recovery and smart-grid demand

Q2 profit jumps 92%, dividend paid FORTH's second-quarter 2026 net profit rose 92% to 234 million baht, helped by a 51% jump in electronics (EMS) revenue, and the board paid an interim dividend of 0.15 baht per share. Stronger earnings and cash returned to shareholders support the share price.
This is the core new earnings event that re-rates the stock.
Big order backlog points to future revenue Yuanta keeps a buy rating and 21.30 baht target, noting the systems-integration backlog hit 5.2 billion baht, well above the normal 2-3 billion. A large backlog means work already signed will turn into revenue later, supporting profit growth.
Backlog and broker target explain the forward earnings case behind the price.
Smart-grid budget names FORTH as winner The government plans a 10-20 billion baht first-phase smart-grid investment, and analysts name FORTH among beneficiaries in demand response and EV integration. New public spending on power networks could bring FORTH fresh project orders, lifting future revenue.
New government spending is a fresh demand driver for FORTH's businesses.
Some segments still weak, revenue delayed Enterprise Solution revenue fell 14% and Smart Service 5%, and some new project revenue recognition was delayed, making Q2 profit 21% below Yuanta's estimate. EMS margin also slipped. So the strong headline growth hides uneven segment performance.
It is the real counterweight: not all businesses are growing as fast as the headline.

August 20265 Aug – 24 Sep 2026

▲3

FORTH profit surges on EMS recovery and smart-grid demand

Q2 profit jumps 92%, dividend paid FORTH's second-quarter 2026 net profit rose 92% to 234 million baht, helped by a 51% jump in electronics (EMS) revenue, and the board paid an interim dividend of 0.15 baht per share. Stronger earnings and cash returned to shareholders support the share price.
This is the core new earnings event that re-rates the stock.
Big order backlog points to future revenue Yuanta keeps a buy rating and 21.30 baht target, noting the systems-integration backlog hit 5.2 billion baht, well above the normal 2-3 billion. A large backlog means work already signed will turn into revenue later, supporting profit growth.
Backlog and broker target explain the forward earnings case behind the price.
Smart-grid budget names FORTH as winner The government plans a 10-20 billion baht first-phase smart-grid investment, and analysts name FORTH among beneficiaries in demand response and EV integration. New public spending on power networks could bring FORTH fresh project orders, lifting future revenue.
New government spending is a fresh demand driver for FORTH's businesses.
Some segments still weak, revenue delayed Enterprise Solution revenue fell 14% and Smart Service 5%, and some new project revenue recognition was delayed, making Q2 profit 21% below Yuanta's estimate. EMS margin also slipped. So the strong headline growth hides uneven segment performance.
It is the real counterweight: not all businesses are growing as fast as the headline.

Latest5 Aug – 24 Sep 2026

▲3

FORTH profit surges on EMS recovery and smart-grid demand

Q2 profit jumps 92%, dividend paid FORTH's second-quarter 2026 net profit rose 92% to 234 million baht, helped by a 51% jump in electronics (EMS) revenue, and the board paid an interim dividend of 0.15 baht per share. Stronger earnings and cash returned to shareholders support the share price.
This is the core new earnings event that re-rates the stock.
Big order backlog points to future revenue Yuanta keeps a buy rating and 21.30 baht target, noting the systems-integration backlog hit 5.2 billion baht, well above the normal 2-3 billion. A large backlog means work already signed will turn into revenue later, supporting profit growth.
Backlog and broker target explain the forward earnings case behind the price.
Smart-grid budget names FORTH as winner The government plans a 10-20 billion baht first-phase smart-grid investment, and analysts name FORTH among beneficiaries in demand response and EV integration. New public spending on power networks could bring FORTH fresh project orders, lifting future revenue.
New government spending is a fresh demand driver for FORTH's businesses.
Some segments still weak, revenue delayed Enterprise Solution revenue fell 14% and Smart Service 5%, and some new project revenue recognition was delayed, making Q2 profit 21% below Yuanta's estimate. EMS margin also slipped. So the strong headline growth hides uneven segment performance.
It is the real counterweight: not all businesses are growing as fast as the headline.