View ValuationZEN Corporation Group 将来の成長Future 基準チェック /36ZEN Groupは、20.8%と4.4%でそれぞれ年率20.8%で利益と収益が成長すると予測される一方、EPSはgrowで19.6%年率。主要情報20.8%収益成長率19.62%EPS成長率Hospitality 収益成長8.7%収益成長率4.4%将来の株主資本利益率n/aアナリストカバレッジLow最終更新日14 Feb 2026今後の成長に関する最新情報Price Target Changed • Feb 14Price target decreased by 11% to ฿5.80Down from ฿6.50, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of ฿6.00. Stock is down 7.0% over the past year. The company is forecast to post earnings per share of ฿0.18 for next year compared to ฿0.19 last year.Major Estimate Revision • May 27Consensus EPS estimates fall by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ฿4.30b to ฿4.11b. EPS estimate also fell from ฿0.32 per share to ฿0.28 per share. Net income forecast to grow 58% next year vs 11% growth forecast for Hospitality industry in Thailand. Consensus price target down from ฿6.25 to ฿5.85. Share price was steady at ฿5.55 over the past week.Price Target Changed • May 26Price target decreased by 10% to ฿5.85Down from ฿6.50, the current price target is an average from 2 analysts. New target price is 8.3% above last closing price of ฿5.40. Stock is down 24% over the past year. The company is forecast to post earnings per share of ฿0.28 for next year compared to ฿0.19 last year.Major Estimate Revision • Nov 15Consensus EPS estimates increase by 19%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from ฿4.09b to ฿4.31b. EPS estimate increased from ฿0.235 to ฿0.28 per share. Net income forecast to shrink 2.8% next year vs 20% growth forecast for Hospitality industry in Thailand . Consensus price target of ฿6.50 unchanged from last update. Share price fell 4.0% to ฿7.20 over the past week.Major Estimate Revision • Aug 27Consensus EPS estimates increase by 24%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from ฿4.02b to ฿4.09b. EPS estimate increased from ฿0.19 to ฿0.235 per share. Net income forecast to shrink 4.2% next year vs 2.7% growth forecast for Hospitality industry in Thailand . Consensus price target up from ฿5.30 to ฿6.50. Share price rose 12% to ฿6.20 over the past week.Major Estimate Revision • Aug 16Consensus EPS estimates fall by 71%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from ฿0.345 to ฿0.10 per share. Revenue forecast steady at ฿4.05b. Net income forecast to shrink 37% next year vs 2.7% growth forecast for Hospitality industry in Thailand . Consensus price target down from ฿7.00 to ฿5.30. Share price fell 8.6% to ฿5.30 over the past week.すべての更新を表示Recent updatesNew Risk • Mar 03New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risk Market cap is less than US$100m (฿1.65b market cap, or US$52.5m).Reported Earnings • Mar 02Full year 2025 earnings: EPS misses analyst expectationsFull year 2025 results: EPS: ฿0.15 (down from ฿0.19 in FY 2024). Revenue: ฿3.98b (down 2.8% from FY 2024). Net income: ฿46.0m (down 19% from FY 2024). Profit margin: 1.2% (down from 1.4% in FY 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 3.0% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings.お知らせ • Feb 27ZEN Corporation Group Public Company Limited Announces Board Retirements, Effective April 23, 2026ZEN Corporation Group Public Company Limited announced the retirement of Mr. Chittapon Vivaddhanakasem, Mr. Boonyong Tansakul, and Mr. Steven David Halliday as directors effective April 23, 2026, due to non-renewal of their terms.Declared Dividend • Feb 26Dividend reduced to ฿0.10Dividend of ฿0.10 is 41% lower than last year. Ex-date: 11th March 2026 Payment date: 15th May 2026 Dividend yield will be 1.7%, which is about the same as the industry average. Sustainability & Growth Dividend is not adequately covered by earnings (97% earnings payout ratio). However, it is well covered by cash flows (12% cash payout ratio). The dividend has decreased over the past 66 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 7.3% to bring the payout ratio under control. EPS is expected to grow by 32% over the next 2 years, which is sufficient to bring the dividend into a sustainable range.お知らせ • Feb 25+ 1 more updateZEN Corporation Group Public Company Limited announces Annual dividend, payable on May 15, 2026ZEN Corporation Group Public Company Limited announced Annual dividend of THB 0.1000 per share payable on May 15, 2026, ex-date on March 11, 2026 and record date on March 12, 2026.Price Target Changed • Feb 14Price target decreased by 11% to ฿5.80Down from ฿6.50, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of ฿6.00. Stock is down 7.0% over the past year. The company is forecast to post earnings per share of ฿0.18 for next year compared to ฿0.19 last year.Buy Or Sell Opportunity • Feb 12Now 20% undervaluedOver the last 90 days, the stock has risen 2.6% to ฿5.85. The fair value is estimated to be ฿7.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.5% over the last 3 years. Earnings per share has declined by 37%. Revenue is forecast to grow by 9.2% in 2 years. Earnings are forecast to grow by 91% in the next 2 years.Buy Or Sell Opportunity • Nov 17Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 9.7% to ฿5.60. The fair value is estimated to be ฿7.06, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years. Earnings per share has declined by 36%. Revenue is forecast to grow by 9.2% in 2 years. Earnings are forecast to grow by 91% in the next 2 years.Reported Earnings • Nov 16Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2025 results: EPS: ฿0.04 (down from ฿0.08 in 3Q 2024). Revenue: ฿971.4m (down 4.6% from 3Q 2024). Net income: ฿11.3m (down 50% from 3Q 2024). Profit margin: 1.2% (down from 2.2% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) exceeded analyst estimates by 140%. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings.Reported Earnings • Aug 16Second quarter 2025 earnings released: EPS: ฿0.04 (vs ฿0.002 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.04 (up from ฿0.002 in 2Q 2024). Revenue: ฿1.01b (flat on 2Q 2024). Net income: ฿10.7m (up ฿10.1m from 2Q 2024). Profit margin: 1.1% (up from 0.1% in 2Q 2024). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings.Valuation Update With 7 Day Price Move • Aug 06Investor sentiment improves as stock rises 15%After last week's 15% share price gain to ฿6.35, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 16x in the Hospitality industry in Thailand. Total loss to shareholders of 43% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿6.40 per share.Buy Or Sell Opportunity • Jul 03Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 19% to ฿5.05. The fair value is estimated to be ฿6.33, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 6.8% in 2 years. Earnings are forecast to grow by 80% in the next 2 years.Buy Or Sell Opportunity • Jun 06Now 23% undervalued after recent price dropOver the last 90 days, the stock has fallen 17% to ฿5.30. The fair value is estimated to be ฿6.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 6.8% in 2 years. Earnings are forecast to grow by 80% in the next 2 years.Major Estimate Revision • May 27Consensus EPS estimates fall by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ฿4.30b to ฿4.11b. EPS estimate also fell from ฿0.32 per share to ฿0.28 per share. Net income forecast to grow 58% next year vs 11% growth forecast for Hospitality industry in Thailand. Consensus price target down from ฿6.25 to ฿5.85. Share price was steady at ฿5.55 over the past week.Price Target Changed • May 26Price target decreased by 10% to ฿5.85Down from ฿6.50, the current price target is an average from 2 analysts. New target price is 8.3% above last closing price of ฿5.40. Stock is down 24% over the past year. The company is forecast to post earnings per share of ฿0.28 for next year compared to ฿0.19 last year.Buy Or Sell Opportunity • May 20Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 18% to ฿5.65. The fair value is estimated to be ฿7.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 106% in the next 2 years.Reported Earnings • May 16First quarter 2025 earnings released: EPS: ฿0.04 (vs ฿0.052 in 1Q 2024)First quarter 2025 results: EPS: ฿0.04 (down from ฿0.052 in 1Q 2024). Revenue: ฿1.01b (down 1.4% from 1Q 2024). Net income: ฿12.8m (down 19% from 1Q 2024). Profit margin: 1.3% (down from 1.5% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings.お知らせ • Apr 24ZEN Corporation Group Public Company Limited Approves Dividend for the Year 2024, Payable on 15 May 2025ZEN Corporation Group Public Company Limited at its AGM held on April 24, 2025, The meeting resolved to approve dividend payment for the operating result of the year 2024 from net profit according to separate financial at the rate of THB 0.17 per share by specifying the list of shareholders with the right to receive dividends (Record Date) on March 11, 2025 and payment of dividends to shareholders on May 15, 2025.Declared Dividend • Feb 24Dividend reduced to ฿0.17Dividend of ฿0.17 is 43% lower than last year. Ex-date: 10th March 2025 Payment date: 15th May 2025 Dividend yield will be 2.6%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is not covered by earnings (117% earnings payout ratio). However, it is well covered by cash flows (33% cash payout ratio). The dividend has increased by an average of 8.4% per year over the past 5 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 30% to bring the payout ratio under control. EPS is expected to grow by 82% over the next 2 years, which is sufficient to bring the dividend into a sustainable range.お知らせ • Feb 22ZEN Corporation Group Public Company Limited Announces Siruwat Chatchawal Intends Not to Renew His Term as DirectorZEN Corporation Group Public Company Limited at its Annual General Meeting of Shareholders to be held on to be held on April 24, 2025, announced that Mr. Siruwat Chatchawal has expressed his intention not to renew his term as a director. His directorship will officially end on the date of the 2025 Annual General Meeting of Shareholders. Effective Date is August 24, 2020. Expire Date is April 24, 2025. Terminate Reason: Retire from office at the end of the term.お知らせ • Feb 21ZEN Corporation Group Public Company Limited, Annual General Meeting, Apr 24, 2025ZEN Corporation Group Public Company Limited, Annual General Meeting, Apr 24, 2025, at 09:00 SE Asia Standard Time.Reported Earnings • Nov 17Third quarter 2024 earnings released: EPS: ฿0.08 (vs ฿0.13 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.08 (down from ฿0.13 in 3Q 2023). Revenue: ฿1.02b (up 1.5% from 3Q 2023). Net income: ฿22.8m (down 43% from 3Q 2023). Profit margin: 2.2% (down from 4.0% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.Major Estimate Revision • Nov 15Consensus EPS estimates increase by 19%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from ฿4.09b to ฿4.31b. EPS estimate increased from ฿0.235 to ฿0.28 per share. Net income forecast to shrink 2.8% next year vs 20% growth forecast for Hospitality industry in Thailand . Consensus price target of ฿6.50 unchanged from last update. Share price fell 4.0% to ฿7.20 over the past week.Major Estimate Revision • Aug 27Consensus EPS estimates increase by 24%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from ฿4.02b to ฿4.09b. EPS estimate increased from ฿0.19 to ฿0.235 per share. Net income forecast to shrink 4.2% next year vs 2.7% growth forecast for Hospitality industry in Thailand . Consensus price target up from ฿5.30 to ฿6.50. Share price rose 12% to ฿6.20 over the past week.Major Estimate Revision • Aug 16Consensus EPS estimates fall by 71%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from ฿0.345 to ฿0.10 per share. Revenue forecast steady at ฿4.05b. Net income forecast to shrink 37% next year vs 2.7% growth forecast for Hospitality industry in Thailand . Consensus price target down from ฿7.00 to ฿5.30. Share price fell 8.6% to ฿5.30 over the past week.Buy Or Sell Opportunity • Aug 15Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 23% to ฿5.30. The fair value is estimated to be ฿6.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 73%. Revenue is forecast to grow by 7.3% in 2 years. Earnings are forecast to grow by 7.3% in the next 2 years.Reported Earnings • Aug 10Second quarter 2024 earnings released: EPS: ฿0.002 (vs ฿0.15 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.002 (down from ฿0.15 in 2Q 2023). Revenue: ฿1.02b (up 5.3% from 2Q 2023). Net income: ฿586.0k (down 99% from 2Q 2023). Profit margin: 0.1% (down from 4.7% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings.Buy Or Sell Opportunity • Jul 01Now 1.9% overvaluedOver the last 90 days, the stock has fallen 27% to ฿5.95. The fair value is estimated to be ฿5.84, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 81%. Revenue is forecast to grow by 7.7% in 2 years. Earnings are forecast to decline by 8.8% in the next 2 years.Major Estimate Revision • Jun 26Consensus EPS estimates fall by 30%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿4.15b to ฿4.03b. EPS estimate also fell from ฿0.49 per share to ฿0.345 per share. Net income forecast to shrink 22% next year vs 0.07% growth forecast for Hospitality industry in Thailand . Consensus price target down from ฿9.15 to ฿7.00. Share price was steady at ฿6.85 over the past week.Buy Or Sell Opportunity • Jun 19Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 15% to ฿6.85. The fair value is estimated to be ฿8.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 81%. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to grow by 14% in the next 2 years.Reported Earnings • May 12First quarter 2024 earnings released: EPS: ฿0.05 (vs ฿0.13 in 1Q 2023)First quarter 2024 results: EPS: ฿0.05 (down from ฿0.13 in 1Q 2023). Revenue: ฿1.02b (up 12% from 1Q 2023). Net income: ฿15.6m (down 54% from 1Q 2023). Profit margin: 1.5% (down from 3.7% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.Buy Or Sell Opportunity • May 08Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 13% to ฿7.55. The fair value is estimated to be ฿9.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 6.8% per annum. Earnings are also forecast to grow by 5.4% per annum over the same time period.お知らせ • Apr 27ZEN Corporation Group Public Company Limited Approves Dividend for the Year 2023, Payable on 15 May 2024ZEN Corporation Group Public Company Limited announced that at the AGM held on April 25, 2024, approved dividend payment for the operating result of the year 2023 from retained earnings according to separate financial statements of THB 97.45 million at the rate of THB 0.30 per share by specifying the list of shareholders with the right to receive dividends (Record Date) on March 11, 2024 and payment of dividends to shareholders on May 15, 2024.Price Target Changed • Mar 12Price target decreased by 33% to ฿10.30Down from ฿15.40, the current price target is provided by 1 analyst. New target price is 20% above last closing price of ฿8.60. Stock is down 46% over the past year. The company is forecast to post earnings per share of ฿0.57 for next year compared to ฿0.53 last year.Upcoming Dividend • Mar 01Upcoming dividend of ฿0.30 per shareEligible shareholders must have bought the stock before 08 March 2024. Payment date: 15 May 2024. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Thai dividend payers (6.4%). Higher than average of industry peers (1.8%).Declared Dividend • Feb 25Dividend increased to ฿0.30Dividend of ฿0.30 is 88% higher than last year. Ex-date: 8th March 2024 Payment date: 15th May 2024 Dividend yield will be 3.4%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 32% over the next 2 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Feb 24Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: EPS: ฿0.53 (up from ฿0.51 in FY 2022). Revenue: ฿3.95b (up 16% from FY 2022). Net income: ฿157.6m (up 2.4% from FY 2022). Profit margin: 4.0% (down from 4.5% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 7.0%. Revenue is forecast to grow 5.7% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.お知らせ • Feb 24ZEN Corporation Group Public Company Limited, Annual General Meeting, Apr 25, 2024ZEN Corporation Group Public Company Limited, Annual General Meeting, Apr 25, 2024, at 09:00 SE Asia Standard Time. Agenda: To acknowledge the Minutes of the 2023 Annual General Shareholders' Meeting; to acknowledge the Company's operating results report of year 2023; to approve the Company's Consolidated and Separate Financial Statements for the year ended December 31, 2023; to consider and approve profit allocation and dividend payment for the year 2023; to approved an appointment of directors to replace those who retire by rotation for the year 2024; to approve the remuneration of directors for the year 2024; to appoint the Company's auditors and its relevant auditing fee for the year 2024; and to consider other matters (if any).お知らせ • Feb 23ZEN Corporation Group Public Company Limited Proposes Dividend for the Year 2023, Payable on 15 May 2024ZEN Corporation Group Public Company Limited announced that at its board meeting held on February 23, 2024, approve the proposal to the shareholders' meeting to consider and approve the allocation of profit and dividend payment for the year 2023. The Board of directors has considered paying dividend for the year 2023, in the amount of THB 90,000,000 (at the rate of THB 0.30 per share). The record date to entitle rightful shareholders who may receive the dividend will be on 11 March 2024. The payment of the dividend will be made on 15 May 2024. The company's right to dividend is still uncertain as it has to wait for approval from the shareholders' meeting.Reported Earnings • Nov 16Third quarter 2023 earnings released: EPS: ฿0.13 (vs ฿0.19 in 3Q 2022)Third quarter 2023 results: EPS: ฿0.13 (down from ฿0.19 in 3Q 2022). Revenue: ฿1.00b (up 10% from 3Q 2022). Net income: ฿40.0m (down 21% from 3Q 2022). Profit margin: 4.0% (down from 5.6% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.Reported Earnings • Aug 19Second quarter 2023 earnings released: EPS: ฿0.17 (vs ฿0.16 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.17 (up from ฿0.16 in 2Q 2022). Revenue: ฿966.6m (up 12% from 2Q 2022). Net income: ฿45.7m (up 3.4% from 2Q 2022). Profit margin: 4.7% (down from 5.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Reported Earnings • May 18First quarter 2023 earnings released: EPS: ฿0.13 (vs ฿0.014 in 1Q 2022)First quarter 2023 results: EPS: ฿0.13 (up from ฿0.014 in 1Q 2022). Revenue: ฿913.2m (up 32% from 1Q 2022). Net income: ฿34.1m (up ฿29.9m from 1Q 2022). Profit margin: 3.7% (up from 0.6% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.5% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Mar 06Upcoming dividend of ฿0.16 per share at 1.0% yieldEligible shareholders must have bought the stock before 13 March 2023. Payment date: 15 May 2023. Trailing yield: 1.0%. Lower than top quartile of Thai dividend payers (5.7%). Lower than average of industry peers (1.5%).Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. No highly experienced directors. 5 independent directors (6 non-independent directors). Independent Director Chavalit Chindavanig was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Reported Earnings • Aug 14Second quarter 2022 earnings released: EPS: ฿0.16 (vs ฿0.22 loss in 2Q 2021)Second quarter 2022 results: EPS: ฿0.16 (up from ฿0.22 loss in 2Q 2021). Revenue: ฿864.7m (up 69% from 2Q 2021). Net income: ฿44.2m (up ฿111.8m from 2Q 2021). Profit margin: 5.1% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance.Reported Earnings • May 16First quarter 2022 earnings: Revenues and EPS in line with analyst expectationsFirst quarter 2022 results: EPS: ฿0.03 (down from ฿0.09 in 1Q 2021). Revenue: ฿692.2m (up 14% from 1Q 2021). Net income: ฿4.18m (down 85% from 1Q 2021). Profit margin: 0.6% (down from 4.7% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance.Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. No highly experienced directors. 5 independent directors (6 non-independent directors). Independent Director Chavalit Chindavanig was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Reported Earnings • Feb 27Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: ฿0.30 loss per share (down from ฿0.21 loss in FY 2020). Revenue: ฿2.26b (down 3.3% from FY 2020). Net loss: ฿91.6m (loss widened 44% from FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance.お知らせ • Feb 25ZEN Corporation Group Public Company Limited, Annual General Meeting, Apr 28, 2022ZEN Corporation Group Public Company Limited, Annual General Meeting, Apr 28, 2022, at 10:00 SE Asia Standard Time. Agenda: To acknowledge the Minutes of the 2021 Annual General Shareholders' Meeting; to acknowledge the Company's operating results report of year 2021; to approve the Company's Consolidated and Separate Financial Statements for the year ended December 31, 2021 which have been duly audited; to consider and approve no dividend payment for the year 2021; to approved an appointment of 4 directors to replace those who retire by rotation for the year 2022; to approve the remuneration of directors for the year 2022; to appoint the Company's auditors and its relevant auditing fee for the year 2022; and to consider other matters (if any).Reported Earnings • Nov 11Third quarter 2021 earnings releasedThe company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: ฿358.5m (down 47% from 3Q 2020). Net loss: ฿61.8m (down 236% from profit in 3Q 2020).Reported Earnings • Aug 18Second quarter 2021 earnings released: ฿0.22 loss per share (vs ฿0.27 loss in 2Q 2020)The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: ฿511.1m (up 51% from 2Q 2020). Net loss: ฿67.6m (loss narrowed 17% from 2Q 2020).Reported Earnings • May 08First quarter 2021 earnings released: EPS ฿0.09 (vs ฿0.15 loss in 1Q 2020)The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: ฿605.1m (down 6.0% from 1Q 2020). Net income: ฿28.5m (up ฿72.7m from 1Q 2020). Profit margin: 4.7% (up from net loss in 1Q 2020). The move to profitability was driven by lower expenses.Is New 90 Day High Low • Mar 01New 90-day high: ฿12.80The company is up 8.0% from its price of ฿11.80 on 01 December 2020. The Thai market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Hospitality industry, which is up 11% over the same period.お知らせ • Feb 24ZEN Corporation Group Public Company Limited, Annual General Meeting, Apr 26, 2021ZEN Corporation Group Public Company Limited, Annual General Meeting, Apr 26, 2021, at 10:00 SE Asia Standard Time. Location: Grand Fourwings Convention Hotel, 333 Srinakarin Road, Huamark, Bangkapi Bangkok Thailand Agenda: To acknowledge the Minutes of the 2020 Annual General Shareholders' Meeting; to acknowledge the Company's operating results report of year 2020; to approve the audited Company and its Subsidaries' Financial Statement for the year ended December 31, 2020 which have been duly audited; to approve the allocation of profit for the year 2020 and acknowledge the interim dividend payment; to re-appoint 4 directors who retired by rotation in 2021; to approve the remuneration of directors for the year 2021; to appoint Company's auditor and its relevant auditing fee for the year 2021; and to consider other matters.Reported Earnings • Feb 24Full year 2020 earnings released: ฿0.21 loss per share (vs ฿0.36 profit in FY 2019)The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: ฿2.33b (down 26% from FY 2019). Net loss: ฿63.7m (down 160% from profit in FY 2019).Reported Earnings • Nov 10Third quarter 2020 earnings released: EPS ฿0.15The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: ฿679.4m (down 14% from 3Q 2019). Net income: ฿45.5m (up 106% from 3Q 2019). Profit margin: 6.7% (up from 2.8% in 3Q 2019). The increase in margin was driven by lower expenses.Is New 90 Day High Low • Nov 03New 90-day high: ฿10.20The company is up 17% from its price of ฿8.75 on 05 August 2020. The Thai market is down 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is down 12% over the same period.Is New 90 Day High Low • Oct 14New 90-day high: ฿9.65The company is up 2.0% from its price of ฿9.45 on 16 July 2020. The Thai market is down 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is down 7.0% over the same period.業績と収益の成長予測SET:ZEN - アナリストの将来予測と過去の財務データ ( )THB Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/20274,22773N/AN/A112/31/20264,05870N/AN/A13/31/20263,91549444539N/A12/31/20253,97946451538N/A9/30/20254,02653438523N/A6/30/20254,07364415506N/A3/31/20254,07854278379N/A12/31/20244,09257273408N/A9/30/20244,11777293507N/A6/30/20244,10294257542N/A3/31/20244,051139231539N/A12/31/20233,945158182477N/A9/30/20233,829175211476N/A6/30/20233,736185181428N/A3/31/20233,634184289536N/A12/31/20223,413154293523N/A9/30/20223,248109409585N/A6/30/20222,696-4259365N/A3/31/20222,342-11674131N/A12/31/20212,255-92184240N/A9/30/20212,147-8549104N/A6/30/20212,46722336369N/A3/31/20212,2959432486N/A12/31/20202,333-64248316N/A9/30/20202,517-61173308N/A6/30/20202,631-84-102163N/A3/31/20203,05730-101227N/A12/31/20193,144106N/A302N/A9/30/20193,010119N/A290N/A6/30/20192,974134N/A308N/A3/31/20192,962148N/A252N/A12/31/20182,947140N/A265N/A9/30/20182,913141N/A358N/A6/30/20182,797126N/A315N/A3/31/20182,63692N/A346N/A12/31/20172,51382N/A398N/A12/31/20162,19792N/A252N/A12/31/20151,962110N/A96N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: ZENの予測収益成長率 (年間20.8% ) は 貯蓄率 ( 2.2% ) を上回っています。収益対市場: ZENの収益 ( 20.8% ) はTH市場 ( 10.6% ) よりも速いペースで成長すると予測されています。高成長収益: ZENの収益は今後 3 年間で 大幅に 増加すると予想されています。収益対市場: ZENの収益 ( 4.4% ) TH市場 ( 9.7% ) よりも低い成長が予測されています。高い収益成長: ZENの収益 ( 4.4% ) 20%よりも低い成長が予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: ZENの 自己資本利益率 が 3 年後に高くなると予測されるかどうかを判断するにはデータが不十分です成長企業の発掘7D1Y7D1Y7D1YConsumer-services 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/07/13 11:35終値2026/07/13 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋ZEN Corporation Group Public Company Limited 1 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。3 アナリスト機関Sureeporn TeewasuwetFSS International AdvisorySirilak KonwaiKrungsri Securities Public Company LimitedAnuwat SrikajornratkulKrungsri Securities Public Company Limited
Price Target Changed • Feb 14Price target decreased by 11% to ฿5.80Down from ฿6.50, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of ฿6.00. Stock is down 7.0% over the past year. The company is forecast to post earnings per share of ฿0.18 for next year compared to ฿0.19 last year.
Major Estimate Revision • May 27Consensus EPS estimates fall by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ฿4.30b to ฿4.11b. EPS estimate also fell from ฿0.32 per share to ฿0.28 per share. Net income forecast to grow 58% next year vs 11% growth forecast for Hospitality industry in Thailand. Consensus price target down from ฿6.25 to ฿5.85. Share price was steady at ฿5.55 over the past week.
Price Target Changed • May 26Price target decreased by 10% to ฿5.85Down from ฿6.50, the current price target is an average from 2 analysts. New target price is 8.3% above last closing price of ฿5.40. Stock is down 24% over the past year. The company is forecast to post earnings per share of ฿0.28 for next year compared to ฿0.19 last year.
Major Estimate Revision • Nov 15Consensus EPS estimates increase by 19%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from ฿4.09b to ฿4.31b. EPS estimate increased from ฿0.235 to ฿0.28 per share. Net income forecast to shrink 2.8% next year vs 20% growth forecast for Hospitality industry in Thailand . Consensus price target of ฿6.50 unchanged from last update. Share price fell 4.0% to ฿7.20 over the past week.
Major Estimate Revision • Aug 27Consensus EPS estimates increase by 24%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from ฿4.02b to ฿4.09b. EPS estimate increased from ฿0.19 to ฿0.235 per share. Net income forecast to shrink 4.2% next year vs 2.7% growth forecast for Hospitality industry in Thailand . Consensus price target up from ฿5.30 to ฿6.50. Share price rose 12% to ฿6.20 over the past week.
Major Estimate Revision • Aug 16Consensus EPS estimates fall by 71%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from ฿0.345 to ฿0.10 per share. Revenue forecast steady at ฿4.05b. Net income forecast to shrink 37% next year vs 2.7% growth forecast for Hospitality industry in Thailand . Consensus price target down from ฿7.00 to ฿5.30. Share price fell 8.6% to ฿5.30 over the past week.
New Risk • Mar 03New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risk Market cap is less than US$100m (฿1.65b market cap, or US$52.5m).
Reported Earnings • Mar 02Full year 2025 earnings: EPS misses analyst expectationsFull year 2025 results: EPS: ฿0.15 (down from ฿0.19 in FY 2024). Revenue: ฿3.98b (down 2.8% from FY 2024). Net income: ฿46.0m (down 19% from FY 2024). Profit margin: 1.2% (down from 1.4% in FY 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 3.0% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings.
お知らせ • Feb 27ZEN Corporation Group Public Company Limited Announces Board Retirements, Effective April 23, 2026ZEN Corporation Group Public Company Limited announced the retirement of Mr. Chittapon Vivaddhanakasem, Mr. Boonyong Tansakul, and Mr. Steven David Halliday as directors effective April 23, 2026, due to non-renewal of their terms.
Declared Dividend • Feb 26Dividend reduced to ฿0.10Dividend of ฿0.10 is 41% lower than last year. Ex-date: 11th March 2026 Payment date: 15th May 2026 Dividend yield will be 1.7%, which is about the same as the industry average. Sustainability & Growth Dividend is not adequately covered by earnings (97% earnings payout ratio). However, it is well covered by cash flows (12% cash payout ratio). The dividend has decreased over the past 66 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 7.3% to bring the payout ratio under control. EPS is expected to grow by 32% over the next 2 years, which is sufficient to bring the dividend into a sustainable range.
お知らせ • Feb 25+ 1 more updateZEN Corporation Group Public Company Limited announces Annual dividend, payable on May 15, 2026ZEN Corporation Group Public Company Limited announced Annual dividend of THB 0.1000 per share payable on May 15, 2026, ex-date on March 11, 2026 and record date on March 12, 2026.
Price Target Changed • Feb 14Price target decreased by 11% to ฿5.80Down from ฿6.50, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of ฿6.00. Stock is down 7.0% over the past year. The company is forecast to post earnings per share of ฿0.18 for next year compared to ฿0.19 last year.
Buy Or Sell Opportunity • Feb 12Now 20% undervaluedOver the last 90 days, the stock has risen 2.6% to ฿5.85. The fair value is estimated to be ฿7.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.5% over the last 3 years. Earnings per share has declined by 37%. Revenue is forecast to grow by 9.2% in 2 years. Earnings are forecast to grow by 91% in the next 2 years.
Buy Or Sell Opportunity • Nov 17Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 9.7% to ฿5.60. The fair value is estimated to be ฿7.06, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years. Earnings per share has declined by 36%. Revenue is forecast to grow by 9.2% in 2 years. Earnings are forecast to grow by 91% in the next 2 years.
Reported Earnings • Nov 16Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2025 results: EPS: ฿0.04 (down from ฿0.08 in 3Q 2024). Revenue: ฿971.4m (down 4.6% from 3Q 2024). Net income: ฿11.3m (down 50% from 3Q 2024). Profit margin: 1.2% (down from 2.2% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) exceeded analyst estimates by 140%. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings.
Reported Earnings • Aug 16Second quarter 2025 earnings released: EPS: ฿0.04 (vs ฿0.002 in 2Q 2024)Second quarter 2025 results: EPS: ฿0.04 (up from ฿0.002 in 2Q 2024). Revenue: ฿1.01b (flat on 2Q 2024). Net income: ฿10.7m (up ฿10.1m from 2Q 2024). Profit margin: 1.1% (up from 0.1% in 2Q 2024). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings.
Valuation Update With 7 Day Price Move • Aug 06Investor sentiment improves as stock rises 15%After last week's 15% share price gain to ฿6.35, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 16x in the Hospitality industry in Thailand. Total loss to shareholders of 43% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ฿6.40 per share.
Buy Or Sell Opportunity • Jul 03Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 19% to ฿5.05. The fair value is estimated to be ฿6.33, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 6.8% in 2 years. Earnings are forecast to grow by 80% in the next 2 years.
Buy Or Sell Opportunity • Jun 06Now 23% undervalued after recent price dropOver the last 90 days, the stock has fallen 17% to ฿5.30. The fair value is estimated to be ฿6.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 6.8% in 2 years. Earnings are forecast to grow by 80% in the next 2 years.
Major Estimate Revision • May 27Consensus EPS estimates fall by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ฿4.30b to ฿4.11b. EPS estimate also fell from ฿0.32 per share to ฿0.28 per share. Net income forecast to grow 58% next year vs 11% growth forecast for Hospitality industry in Thailand. Consensus price target down from ฿6.25 to ฿5.85. Share price was steady at ฿5.55 over the past week.
Price Target Changed • May 26Price target decreased by 10% to ฿5.85Down from ฿6.50, the current price target is an average from 2 analysts. New target price is 8.3% above last closing price of ฿5.40. Stock is down 24% over the past year. The company is forecast to post earnings per share of ฿0.28 for next year compared to ฿0.19 last year.
Buy Or Sell Opportunity • May 20Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 18% to ฿5.65. The fair value is estimated to be ฿7.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 106% in the next 2 years.
Reported Earnings • May 16First quarter 2025 earnings released: EPS: ฿0.04 (vs ฿0.052 in 1Q 2024)First quarter 2025 results: EPS: ฿0.04 (down from ฿0.052 in 1Q 2024). Revenue: ฿1.01b (down 1.4% from 1Q 2024). Net income: ฿12.8m (down 19% from 1Q 2024). Profit margin: 1.3% (down from 1.5% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings.
お知らせ • Apr 24ZEN Corporation Group Public Company Limited Approves Dividend for the Year 2024, Payable on 15 May 2025ZEN Corporation Group Public Company Limited at its AGM held on April 24, 2025, The meeting resolved to approve dividend payment for the operating result of the year 2024 from net profit according to separate financial at the rate of THB 0.17 per share by specifying the list of shareholders with the right to receive dividends (Record Date) on March 11, 2025 and payment of dividends to shareholders on May 15, 2025.
Declared Dividend • Feb 24Dividend reduced to ฿0.17Dividend of ฿0.17 is 43% lower than last year. Ex-date: 10th March 2025 Payment date: 15th May 2025 Dividend yield will be 2.6%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is not covered by earnings (117% earnings payout ratio). However, it is well covered by cash flows (33% cash payout ratio). The dividend has increased by an average of 8.4% per year over the past 5 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 30% to bring the payout ratio under control. EPS is expected to grow by 82% over the next 2 years, which is sufficient to bring the dividend into a sustainable range.
お知らせ • Feb 22ZEN Corporation Group Public Company Limited Announces Siruwat Chatchawal Intends Not to Renew His Term as DirectorZEN Corporation Group Public Company Limited at its Annual General Meeting of Shareholders to be held on to be held on April 24, 2025, announced that Mr. Siruwat Chatchawal has expressed his intention not to renew his term as a director. His directorship will officially end on the date of the 2025 Annual General Meeting of Shareholders. Effective Date is August 24, 2020. Expire Date is April 24, 2025. Terminate Reason: Retire from office at the end of the term.
お知らせ • Feb 21ZEN Corporation Group Public Company Limited, Annual General Meeting, Apr 24, 2025ZEN Corporation Group Public Company Limited, Annual General Meeting, Apr 24, 2025, at 09:00 SE Asia Standard Time.
Reported Earnings • Nov 17Third quarter 2024 earnings released: EPS: ฿0.08 (vs ฿0.13 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.08 (down from ฿0.13 in 3Q 2023). Revenue: ฿1.02b (up 1.5% from 3Q 2023). Net income: ฿22.8m (down 43% from 3Q 2023). Profit margin: 2.2% (down from 4.0% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.
Major Estimate Revision • Nov 15Consensus EPS estimates increase by 19%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from ฿4.09b to ฿4.31b. EPS estimate increased from ฿0.235 to ฿0.28 per share. Net income forecast to shrink 2.8% next year vs 20% growth forecast for Hospitality industry in Thailand . Consensus price target of ฿6.50 unchanged from last update. Share price fell 4.0% to ฿7.20 over the past week.
Major Estimate Revision • Aug 27Consensus EPS estimates increase by 24%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from ฿4.02b to ฿4.09b. EPS estimate increased from ฿0.19 to ฿0.235 per share. Net income forecast to shrink 4.2% next year vs 2.7% growth forecast for Hospitality industry in Thailand . Consensus price target up from ฿5.30 to ฿6.50. Share price rose 12% to ฿6.20 over the past week.
Major Estimate Revision • Aug 16Consensus EPS estimates fall by 71%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from ฿0.345 to ฿0.10 per share. Revenue forecast steady at ฿4.05b. Net income forecast to shrink 37% next year vs 2.7% growth forecast for Hospitality industry in Thailand . Consensus price target down from ฿7.00 to ฿5.30. Share price fell 8.6% to ฿5.30 over the past week.
Buy Or Sell Opportunity • Aug 15Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 23% to ฿5.30. The fair value is estimated to be ฿6.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 73%. Revenue is forecast to grow by 7.3% in 2 years. Earnings are forecast to grow by 7.3% in the next 2 years.
Reported Earnings • Aug 10Second quarter 2024 earnings released: EPS: ฿0.002 (vs ฿0.15 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.002 (down from ฿0.15 in 2Q 2023). Revenue: ฿1.02b (up 5.3% from 2Q 2023). Net income: ฿586.0k (down 99% from 2Q 2023). Profit margin: 0.1% (down from 4.7% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings.
Buy Or Sell Opportunity • Jul 01Now 1.9% overvaluedOver the last 90 days, the stock has fallen 27% to ฿5.95. The fair value is estimated to be ฿5.84, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 81%. Revenue is forecast to grow by 7.7% in 2 years. Earnings are forecast to decline by 8.8% in the next 2 years.
Major Estimate Revision • Jun 26Consensus EPS estimates fall by 30%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ฿4.15b to ฿4.03b. EPS estimate also fell from ฿0.49 per share to ฿0.345 per share. Net income forecast to shrink 22% next year vs 0.07% growth forecast for Hospitality industry in Thailand . Consensus price target down from ฿9.15 to ฿7.00. Share price was steady at ฿6.85 over the past week.
Buy Or Sell Opportunity • Jun 19Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 15% to ฿6.85. The fair value is estimated to be ฿8.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 81%. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to grow by 14% in the next 2 years.
Reported Earnings • May 12First quarter 2024 earnings released: EPS: ฿0.05 (vs ฿0.13 in 1Q 2023)First quarter 2024 results: EPS: ฿0.05 (down from ฿0.13 in 1Q 2023). Revenue: ฿1.02b (up 12% from 1Q 2023). Net income: ฿15.6m (down 54% from 1Q 2023). Profit margin: 1.5% (down from 3.7% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.
Buy Or Sell Opportunity • May 08Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 13% to ฿7.55. The fair value is estimated to be ฿9.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 6.8% per annum. Earnings are also forecast to grow by 5.4% per annum over the same time period.
お知らせ • Apr 27ZEN Corporation Group Public Company Limited Approves Dividend for the Year 2023, Payable on 15 May 2024ZEN Corporation Group Public Company Limited announced that at the AGM held on April 25, 2024, approved dividend payment for the operating result of the year 2023 from retained earnings according to separate financial statements of THB 97.45 million at the rate of THB 0.30 per share by specifying the list of shareholders with the right to receive dividends (Record Date) on March 11, 2024 and payment of dividends to shareholders on May 15, 2024.
Price Target Changed • Mar 12Price target decreased by 33% to ฿10.30Down from ฿15.40, the current price target is provided by 1 analyst. New target price is 20% above last closing price of ฿8.60. Stock is down 46% over the past year. The company is forecast to post earnings per share of ฿0.57 for next year compared to ฿0.53 last year.
Upcoming Dividend • Mar 01Upcoming dividend of ฿0.30 per shareEligible shareholders must have bought the stock before 08 March 2024. Payment date: 15 May 2024. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Thai dividend payers (6.4%). Higher than average of industry peers (1.8%).
Declared Dividend • Feb 25Dividend increased to ฿0.30Dividend of ฿0.30 is 88% higher than last year. Ex-date: 8th March 2024 Payment date: 15th May 2024 Dividend yield will be 3.4%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 32% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Feb 24Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: EPS: ฿0.53 (up from ฿0.51 in FY 2022). Revenue: ฿3.95b (up 16% from FY 2022). Net income: ฿157.6m (up 2.4% from FY 2022). Profit margin: 4.0% (down from 4.5% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 7.0%. Revenue is forecast to grow 5.7% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
お知らせ • Feb 24ZEN Corporation Group Public Company Limited, Annual General Meeting, Apr 25, 2024ZEN Corporation Group Public Company Limited, Annual General Meeting, Apr 25, 2024, at 09:00 SE Asia Standard Time. Agenda: To acknowledge the Minutes of the 2023 Annual General Shareholders' Meeting; to acknowledge the Company's operating results report of year 2023; to approve the Company's Consolidated and Separate Financial Statements for the year ended December 31, 2023; to consider and approve profit allocation and dividend payment for the year 2023; to approved an appointment of directors to replace those who retire by rotation for the year 2024; to approve the remuneration of directors for the year 2024; to appoint the Company's auditors and its relevant auditing fee for the year 2024; and to consider other matters (if any).
お知らせ • Feb 23ZEN Corporation Group Public Company Limited Proposes Dividend for the Year 2023, Payable on 15 May 2024ZEN Corporation Group Public Company Limited announced that at its board meeting held on February 23, 2024, approve the proposal to the shareholders' meeting to consider and approve the allocation of profit and dividend payment for the year 2023. The Board of directors has considered paying dividend for the year 2023, in the amount of THB 90,000,000 (at the rate of THB 0.30 per share). The record date to entitle rightful shareholders who may receive the dividend will be on 11 March 2024. The payment of the dividend will be made on 15 May 2024. The company's right to dividend is still uncertain as it has to wait for approval from the shareholders' meeting.
Reported Earnings • Nov 16Third quarter 2023 earnings released: EPS: ฿0.13 (vs ฿0.19 in 3Q 2022)Third quarter 2023 results: EPS: ฿0.13 (down from ฿0.19 in 3Q 2022). Revenue: ฿1.00b (up 10% from 3Q 2022). Net income: ฿40.0m (down 21% from 3Q 2022). Profit margin: 4.0% (down from 5.6% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.
Reported Earnings • Aug 19Second quarter 2023 earnings released: EPS: ฿0.17 (vs ฿0.16 in 2Q 2022)Second quarter 2023 results: EPS: ฿0.17 (up from ฿0.16 in 2Q 2022). Revenue: ฿966.6m (up 12% from 2Q 2022). Net income: ฿45.7m (up 3.4% from 2Q 2022). Profit margin: 4.7% (down from 5.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Reported Earnings • May 18First quarter 2023 earnings released: EPS: ฿0.13 (vs ฿0.014 in 1Q 2022)First quarter 2023 results: EPS: ฿0.13 (up from ฿0.014 in 1Q 2022). Revenue: ฿913.2m (up 32% from 1Q 2022). Net income: ฿34.1m (up ฿29.9m from 1Q 2022). Profit margin: 3.7% (up from 0.6% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.5% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Hospitality industry in Thailand. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Mar 06Upcoming dividend of ฿0.16 per share at 1.0% yieldEligible shareholders must have bought the stock before 13 March 2023. Payment date: 15 May 2023. Trailing yield: 1.0%. Lower than top quartile of Thai dividend payers (5.7%). Lower than average of industry peers (1.5%).
Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. No highly experienced directors. 5 independent directors (6 non-independent directors). Independent Director Chavalit Chindavanig was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Reported Earnings • Aug 14Second quarter 2022 earnings released: EPS: ฿0.16 (vs ฿0.22 loss in 2Q 2021)Second quarter 2022 results: EPS: ฿0.16 (up from ฿0.22 loss in 2Q 2021). Revenue: ฿864.7m (up 69% from 2Q 2021). Net income: ฿44.2m (up ฿111.8m from 2Q 2021). Profit margin: 5.1% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance.
Reported Earnings • May 16First quarter 2022 earnings: Revenues and EPS in line with analyst expectationsFirst quarter 2022 results: EPS: ฿0.03 (down from ฿0.09 in 1Q 2021). Revenue: ฿692.2m (up 14% from 1Q 2021). Net income: ฿4.18m (down 85% from 1Q 2021). Profit margin: 0.6% (down from 4.7% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance.
Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 10 experienced directors. No highly experienced directors. 5 independent directors (6 non-independent directors). Independent Director Chavalit Chindavanig was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Reported Earnings • Feb 27Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: ฿0.30 loss per share (down from ฿0.21 loss in FY 2020). Revenue: ฿2.26b (down 3.3% from FY 2020). Net loss: ฿91.6m (loss widened 44% from FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance.
お知らせ • Feb 25ZEN Corporation Group Public Company Limited, Annual General Meeting, Apr 28, 2022ZEN Corporation Group Public Company Limited, Annual General Meeting, Apr 28, 2022, at 10:00 SE Asia Standard Time. Agenda: To acknowledge the Minutes of the 2021 Annual General Shareholders' Meeting; to acknowledge the Company's operating results report of year 2021; to approve the Company's Consolidated and Separate Financial Statements for the year ended December 31, 2021 which have been duly audited; to consider and approve no dividend payment for the year 2021; to approved an appointment of 4 directors to replace those who retire by rotation for the year 2022; to approve the remuneration of directors for the year 2022; to appoint the Company's auditors and its relevant auditing fee for the year 2022; and to consider other matters (if any).
Reported Earnings • Nov 11Third quarter 2021 earnings releasedThe company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: ฿358.5m (down 47% from 3Q 2020). Net loss: ฿61.8m (down 236% from profit in 3Q 2020).
Reported Earnings • Aug 18Second quarter 2021 earnings released: ฿0.22 loss per share (vs ฿0.27 loss in 2Q 2020)The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: ฿511.1m (up 51% from 2Q 2020). Net loss: ฿67.6m (loss narrowed 17% from 2Q 2020).
Reported Earnings • May 08First quarter 2021 earnings released: EPS ฿0.09 (vs ฿0.15 loss in 1Q 2020)The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: ฿605.1m (down 6.0% from 1Q 2020). Net income: ฿28.5m (up ฿72.7m from 1Q 2020). Profit margin: 4.7% (up from net loss in 1Q 2020). The move to profitability was driven by lower expenses.
Is New 90 Day High Low • Mar 01New 90-day high: ฿12.80The company is up 8.0% from its price of ฿11.80 on 01 December 2020. The Thai market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Hospitality industry, which is up 11% over the same period.
お知らせ • Feb 24ZEN Corporation Group Public Company Limited, Annual General Meeting, Apr 26, 2021ZEN Corporation Group Public Company Limited, Annual General Meeting, Apr 26, 2021, at 10:00 SE Asia Standard Time. Location: Grand Fourwings Convention Hotel, 333 Srinakarin Road, Huamark, Bangkapi Bangkok Thailand Agenda: To acknowledge the Minutes of the 2020 Annual General Shareholders' Meeting; to acknowledge the Company's operating results report of year 2020; to approve the audited Company and its Subsidaries' Financial Statement for the year ended December 31, 2020 which have been duly audited; to approve the allocation of profit for the year 2020 and acknowledge the interim dividend payment; to re-appoint 4 directors who retired by rotation in 2021; to approve the remuneration of directors for the year 2021; to appoint Company's auditor and its relevant auditing fee for the year 2021; and to consider other matters.
Reported Earnings • Feb 24Full year 2020 earnings released: ฿0.21 loss per share (vs ฿0.36 profit in FY 2019)The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: ฿2.33b (down 26% from FY 2019). Net loss: ฿63.7m (down 160% from profit in FY 2019).
Reported Earnings • Nov 10Third quarter 2020 earnings released: EPS ฿0.15The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: ฿679.4m (down 14% from 3Q 2019). Net income: ฿45.5m (up 106% from 3Q 2019). Profit margin: 6.7% (up from 2.8% in 3Q 2019). The increase in margin was driven by lower expenses.
Is New 90 Day High Low • Nov 03New 90-day high: ฿10.20The company is up 17% from its price of ฿8.75 on 05 August 2020. The Thai market is down 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is down 12% over the same period.
Is New 90 Day High Low • Oct 14New 90-day high: ฿9.65The company is up 2.0% from its price of ฿9.45 on 16 July 2020. The Thai market is down 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is down 7.0% over the same period.