← LTMH overview

LTMH vs Plan B Media PCL: why the prices moved differently

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

LTMH Public Company Limited (LTMH.BK)

Plan B Media PCL (PLANB.BK)

Q3 2026
▲3▼1

Plan B Media expands into COM7 and iCare, lifting profit outlook

  • COM7 stake turns into equity income Plan B secured two board seats at COM7, allowing it to record its share of COM7's profits as equity income rather than just dividends. This new profit stream could boost earnings and has led brokers to raise price targets.

    This is a new development that directly adds a new source of profit and drives analyst optimism.

  • Acquisition of iCare phone insurance Plan B bought 46.28% of iCare, a phone-insurance business, which could add 120–200 million baht in annual profit. This diversification may further lift earnings and has pushed some target prices as high as 9.70 baht.

    This is a new acquisition that expands the business and is expected to contribute to future profits.

  • Solid core results and dividend Plan B reported H1 profit up 9% and Q2 profit up 10% year-on-year, and paid an interim dividend. These results show the core business remains healthy despite a soft advertising market.

    This confirms the company's underlying financial performance and provides income to shareholders.

  • Rising debt and interest costs Debt-to-equity rose to 1.13x after borrowing to fund the COM7 investment, adding about 200 million baht in yearly interest. This increases financial risk and could pressure future profits.

    This is a new risk factor that may offset some of the positive earnings drivers.

August 2026
▲3▼1

Plan B Media expands into COM7 and iCare, lifting profit outlook

  • COM7 stake turns into equity income Plan B secured two board seats at COM7, allowing it to record its share of COM7's profits as equity income rather than just dividends. This new profit stream could boost earnings and has led brokers to raise price targets.

    This is a new development that directly adds a new source of profit and drives analyst optimism.

  • Acquisition of iCare phone insurance Plan B bought 46.28% of iCare, a phone-insurance business, which could add 120–200 million baht in annual profit. This diversification may further lift earnings and has pushed some target prices as high as 9.70 baht.

    This is a new acquisition that expands the business and is expected to contribute to future profits.

  • Solid core results and dividend Plan B reported H1 profit up 9% and Q2 profit up 10% year-on-year, and paid an interim dividend. These results show the core business remains healthy despite a soft advertising market.

    This confirms the company's underlying financial performance and provides income to shareholders.

  • Rising debt and interest costs Debt-to-equity rose to 1.13x after borrowing to fund the COM7 investment, adding about 200 million baht in yearly interest. This increases financial risk and could pressure future profits.

    This is a new risk factor that may offset some of the positive earnings drivers.

Latest
▲3

PLANB's COM7/iCare bets turn into a second profit engine

  • PLANB buys 46.28% of iCare, a phone-insurance business PLANB will pay 860 million baht for 46.28% of iCare, COM7's mobile-phone and gadget insurance arm. Brokers say this could add roughly 120-200 million baht a year to profit once fully booked, lifting 2027-2028 earnings and pushing target prices as high as 9.70 baht.

    This is the biggest new event of the period and the main reason brokers raised targets.

  • COM7 profit-sharing starts, brokers lift targets PLANB won two COM7 board seats on 17 September, so it can now book a share of COM7's profit instead of just dividends. Brokers raised 2026-2028 profit forecasts and targets (up to 7.80 baht), with a full quarter of COM7 profit due from Q4 2026.

    The equity-method switch is the structural change that re-rates PLANB's earnings base.

  • Q2 profit up 10%, ad and events businesses growing PLANB reported Q2 2026 net profit of 297 million baht, up 10% from a year earlier, on revenue up 14.3%, helped by out-of-home media and the boxing/football events arm. It paid an interim dividend of 0.0435 baht and kept debt within its covenant.

    Confirms the core advertising business is still growing and funds the new investments.

  • Debt and weak ad market cap the upside PLANB borrowed to fund COM7, pushing debt-to-equity to 1.13 times and adding about 200 million baht a year in interest. Thai advertising spending is still shrinking slightly, and Q3 2026 profit may dip year-on-year before the Q4 high season and full COM7 contribution arrive.

    Gives the fair counterweight: the growth story is real but funded with debt into a soft ad market.

▲3

PLANB's COM7 stake turns into real profit stream, brokers raise targets

  • COM7 board seats secured, equity income begins COM7 shareholders approved two PLANB-nominated directors on 17 September 2026, giving PLANB significant influence over its 11.01% stake. PLANB can now record its share of COM7's profit instead of just dividends, which brokers say will add hundreds of millions of baht to profit in 2027.

    This is the key new event that changes how PLANB's profit is calculated and drives the higher broker targets.

  • Brokers raise targets on COM7 and sports momentum Yuanta started coverage with a 7.80 baht target and Bualuang kept a 6.80 baht target, both citing COM7 profit-sharing plus the Asian Games and a growing sports business. They see fourth-quarter 2026 profit possibly hitting a record and 2027 profit growing about 30%.

    Shows the market's upgraded expectations for PLANB's earnings and share price after the COM7 deal.

  • First-half profit up 9%, dividend paid PLANB reported first-half 2026 net profit of 504 million baht, up 9% from a year earlier, on revenue up 12.3%. It approved an interim dividend of 0.0435 baht per share. The results confirm the core advertising business is still growing while the company invests in COM7.

    Provides the fundamental earnings base that supports the positive broker views and shows the core business is healthy.

  • Debt rises to fund COM7, near-term costs weigh PLANB borrowed to buy its COM7 stake, pushing debt-to-equity to 1.13 times and adding about 200 million baht in yearly interest costs. Yuanta warns third-quarter 2026 profit may slow year-on-year because only 13 days of COM7 profit-sharing will be booked and financing costs are higher.

    This is the main counterweight: the COM7 deal boosts future profit but raises debt and near-term costs, which could pressure the shares if benefits take time.