IT City Public Company Limited

Kasikorn Securities estimates that IT City Public Company Limited, or IT, will report a net profit of 95 million baht for the third quarter of 2026, an increase of 141% year on year, driven by strong sales growth, expanding gross margins, and effective control of selling and administrative expenses. However, the figure is down 13% quarter on quarter as gross margins on IT products returned to normal levels. For the first nine months of 2026, profit is expected to reach 296 million baht, up 153% year on year, accounting for 79% of the full-year 2026 forecast of 375 million baht. IT City is scheduled to report its third-quarter 2026 results on November 5 and will take part in Opportunity Day that same afternoon. The research team expects third-quarter 2026 sales of 3.0 billion baht, up 21% year on year and 3% quarter on quarter, supported by strong smartphone and tablet sales as well as IT products, particularly PCs and notebooks. Gross margin is expected to rise to 18.7% from 17.3% in the third quarter of 2025, but to decline from 19.3% in the second quarter of 2026. On the investment view, the research team maintains a Buy rating on IT with a mid-2027 target price of 10.83 baht, seeing the recent share price of 7.1 baht as an attractive accumulation level, reflecting a 2026 price-to-earnings ratio of just 6.9 times, even though 2026 earnings per share are expected to grow 118% year on year, the strongest in the gadget sector, while the stock also offers an attractive 2026 dividend yield of 5.8%.

Kasikorn Securities stated that IT City Public Company Limited, or IT, expects third-quarter 2026 sales to grow both year-on-year and quarter-on-quarter, driven by strong smartphone and tablet sales as well as the IT product replacement cycle, especially PCs and notebooks. Same-store sales growth in July and August was positive at a double-digit rate and is expected to continue through September. Under the assumption of 20% year-on-year sales growth and a gross profit margin of 18.9%, the research team expects third-quarter 2026 profit of 105 million baht, up 167% year-on-year but down 3% quarter-on-quarter, bringing first-nine-month 2026 profit to 306 million baht, up 161% year-on-year. The research team maintains a Buy recommendation with a mid-2027 target price of 10.83 baht, compared with the current market price of 7.05 baht, which reflects a 2026 price-to-earnings ratio of only 6.9 times, below the gadget sector average of about 10 times, and expects a 2026 dividend yield of 5.8%.