← Thaicom overview

Thaicom vs Garmin: why the prices moved differently

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

Thaicom Public Company Limited (THCOM.BK)

Q3 2026
▲2▼2

THCOM wins 2.45bn baht USO3 contracts, but faces 1.26bn baht lawsuit

  • Cabinet lawsuit over satellite concession The Cabinet authorized the Digital Economy Ministry to sue THCOM for 1.259 billion baht (1.15 baht per share, 11% of market value) over alleged breach of the satellite concession. This is a real legal overhang that could hit cash and future government satellite business, though brokers say the market reaction may be overdone.

    This is a major new legal risk that directly threatens THCOM's finances and government contracts.

  • Wins 2 of 5 USO3 border internet contracts worth 2.45bn baht THCOM's joint venture with Interlink Telecom won two USO3 contracts (Northeast and East-West) worth 2.45 billion baht. This provides certain revenue over five years, with installation starting early 2027. It helps offset losses during the satellite transition, though it won't fully turn the company profitable yet.

    This is a concrete new contract win that boosts future revenue and improves sentiment.

  • Broker upgrades on USO3 win Asia Plus raised THCOM's 2027 profit forecast from 381 million to 729 million baht and upgraded the stock to Buy with a target price of 11.80 baht. Kasikorn maintained Hold with a 12.47 baht target, noting the win beat expectations but isn't enough to end operating losses.

    Analyst upgrades directly influence investor perception and can drive buying interest.

  • THCOM remains a weak point in the group In the telecom group's Q2 results, THCOM posted a core loss of 79 million baht while TRUE and ADVANC reported strong profit growth. This highlights THCOM's ongoing struggles, especially with satellite transition delays, and keeps it a drag on the group's overall performance.

    This underscores THCOM's weak fundamentals relative to peers, which weighs on its valuation.

September 2026
▲2▼2

THCOM wins 2.45bn baht USO3 contracts, but faces 1.26bn baht lawsuit

  • Cabinet lawsuit over satellite concession The Cabinet authorized the Digital Economy Ministry to sue THCOM for 1.259 billion baht (1.15 baht per share, 11% of market value) over alleged breach of the satellite concession. This is a real legal overhang that could hit cash and future government satellite business, though brokers say the market reaction may be overdone.

    This is a major new legal risk that directly threatens THCOM's finances and government contracts.

  • Wins 2 of 5 USO3 border internet contracts worth 2.45bn baht THCOM's joint venture with Interlink Telecom won two USO3 contracts (Northeast and East-West) worth 2.45 billion baht. This provides certain revenue over five years, with installation starting early 2027. It helps offset losses during the satellite transition, though it won't fully turn the company profitable yet.

    This is a concrete new contract win that boosts future revenue and improves sentiment.

  • Broker upgrades on USO3 win Asia Plus raised THCOM's 2027 profit forecast from 381 million to 729 million baht and upgraded the stock to Buy with a target price of 11.80 baht. Kasikorn maintained Hold with a 12.47 baht target, noting the win beat expectations but isn't enough to end operating losses.

    Analyst upgrades directly influence investor perception and can drive buying interest.

  • THCOM remains a weak point in the group In the telecom group's Q2 results, THCOM posted a core loss of 79 million baht while TRUE and ADVANC reported strong profit growth. This highlights THCOM's ongoing struggles, especially with satellite transition delays, and keeps it a drag on the group's overall performance.

    This underscores THCOM's weak fundamentals relative to peers, which weighs on its valuation.

Latest
▲2▼2

THCOM wins 2.45bn baht USO3 contracts, but faces 1.26bn baht lawsuit

  • Cabinet lawsuit over satellite concession The Cabinet authorized the Digital Economy Ministry to sue THCOM for 1.259 billion baht (1.15 baht per share, 11% of market value) over alleged breach of the satellite concession. This is a real legal overhang that could hit cash and future government satellite business, though brokers say the market reaction may be overdone.

    This is a major new legal risk that directly threatens THCOM's finances and government contracts.

  • Wins 2 of 5 USO3 border internet contracts worth 2.45bn baht THCOM's joint venture with Interlink Telecom won two USO3 contracts (Northeast and East-West) worth 2.45 billion baht. This provides certain revenue over five years, with installation starting early 2027. It helps offset losses during the satellite transition, though it won't fully turn the company profitable yet.

    This is a concrete new contract win that boosts future revenue and improves sentiment.

  • Broker upgrades on USO3 win Asia Plus raised THCOM's 2027 profit forecast from 381 million to 729 million baht and upgraded the stock to Buy with a target price of 11.80 baht. Kasikorn maintained Hold with a 12.47 baht target, noting the win beat expectations but isn't enough to end operating losses.

    Analyst upgrades directly influence investor perception and can drive buying interest.

  • THCOM remains a weak point in the group In the telecom group's Q2 results, THCOM posted a core loss of 79 million baht while TRUE and ADVANC reported strong profit growth. This highlights THCOM's ongoing struggles, especially with satellite transition delays, and keeps it a drag on the group's overall performance.

    This underscores THCOM's weak fundamentals relative to peers, which weighs on its valuation.

Garmin Ltd (GRMN)

Q3 2026
▲3

Garmin beat Q2, raised 2026 outlook, and kept launching premium devices

  • Q2 beat and raised full-year guidance Garmin's second-quarter revenue rose 11% to $2 billion and profit beat forecasts, led by fitness revenue up 25%. Management raised full-year revenue and earnings guidance, and the stock jumped about 16% on the news. Higher expected sales and profit are the core reason the shares moved up.

    The guidance raise and earnings beat are the biggest fundamental driver of GRMN this period.

  • New premium watches and fitness acquisitions Garmin bought TrainingPeaks and TrainHeroic and launched the CIRQA band, then rolled out fēnix 9, Approach S72 and Enduro 4 watches priced $800-$1,100. These add higher-priced products and recurring fitness subscriptions, supporting revenue and profit growth.

    Shows the product and ecosystem expansion that underpins Garmin's growth outlook.

  • Marine and aviation product momentum Garmin launched the GMI 40 marine instrument and SmartDrive sailboat autopilot, after marine revenue grew 14% to $341 million at strong margins. Aviation also grew on OEM and aftermarket demand. New products keep the smaller but profitable segments expanding.

    Marine and aviation are meaningful profit contributors and their new launches support the raised outlook.

  • Free software updates and analyst praise, but weak spots remain Garmin added free fall detection and voice control to existing watches and won a Zacks Strong Buy mention, which supports its brand and pricing power. But outdoor revenue fell 2%, auto OEM profit was thin, and some funds sold, a real counterweight to the bullish story.

    Gives the fair counterweight alongside the positive drivers.

August 2026
▲3

Garmin beat Q2, raised 2026 outlook, and kept launching premium devices

  • Q2 beat and raised full-year guidance Garmin's second-quarter revenue rose 11% to $2 billion and profit beat forecasts, led by fitness revenue up 25%. Management raised full-year revenue and earnings guidance, and the stock jumped about 16% on the news. Higher expected sales and profit are the core reason the shares moved up.

    The guidance raise and earnings beat are the biggest fundamental driver of GRMN this period.

  • New premium watches and fitness acquisitions Garmin bought TrainingPeaks and TrainHeroic and launched the CIRQA band, then rolled out fēnix 9, Approach S72 and Enduro 4 watches priced $800-$1,100. These add higher-priced products and recurring fitness subscriptions, supporting revenue and profit growth.

    Shows the product and ecosystem expansion that underpins Garmin's growth outlook.

  • Marine and aviation product momentum Garmin launched the GMI 40 marine instrument and SmartDrive sailboat autopilot, after marine revenue grew 14% to $341 million at strong margins. Aviation also grew on OEM and aftermarket demand. New products keep the smaller but profitable segments expanding.

    Marine and aviation are meaningful profit contributors and their new launches support the raised outlook.

  • Free software updates and analyst praise, but weak spots remain Garmin added free fall detection and voice control to existing watches and won a Zacks Strong Buy mention, which supports its brand and pricing power. But outdoor revenue fell 2%, auto OEM profit was thin, and some funds sold, a real counterweight to the bullish story.

    Gives the fair counterweight alongside the positive drivers.

Latest
▲3

Garmin beat Q2, raised 2026 outlook, and kept launching premium devices

  • Q2 beat and raised full-year guidance Garmin's second-quarter revenue rose 11% to $2 billion and profit beat forecasts, led by fitness revenue up 25%. Management raised full-year revenue and earnings guidance, and the stock jumped about 16% on the news. Higher expected sales and profit are the core reason the shares moved up.

    The guidance raise and earnings beat are the biggest fundamental driver of GRMN this period.

  • New premium watches and fitness acquisitions Garmin bought TrainingPeaks and TrainHeroic and launched the CIRQA band, then rolled out fēnix 9, Approach S72 and Enduro 4 watches priced $800-$1,100. These add higher-priced products and recurring fitness subscriptions, supporting revenue and profit growth.

    Shows the product and ecosystem expansion that underpins Garmin's growth outlook.

  • Marine and aviation product momentum Garmin launched the GMI 40 marine instrument and SmartDrive sailboat autopilot, after marine revenue grew 14% to $341 million at strong margins. Aviation also grew on OEM and aftermarket demand. New products keep the smaller but profitable segments expanding.

    Marine and aviation are meaningful profit contributors and their new launches support the raised outlook.

  • Free software updates and analyst praise, but weak spots remain Garmin added free fall detection and voice control to existing watches and won a Zacks Strong Buy mention, which supports its brand and pricing power. But outdoor revenue fell 2%, auto OEM profit was thin, and some funds sold, a real counterweight to the bullish story.

    Gives the fair counterweight alongside the positive drivers.