How does ERW's PE Ratio compare to its peers?

ERW is good value based on its Price-To-Earnings Ratio (14.7x) compared to the peer average (47.7x).

How does ERW's PE Ratio compare vs other companies in the Asian Hospitality Industry?

ERW is good value based on its Price-To-Earnings Ratio (14.7x) compared to the Asian Hospitality industry average (21.9x).

What is ERW's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ERW is good value based on its Price-To-Earnings Ratio (14.7x) compared to the estimated Fair Price-To-Earnings Ratio (16.3x).

What is the Fair Price of ERW when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

ERW (THB3.36) is trading above our estimate of [[fair value]] (THB3.34)

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

ERW Stock Overview

Engages in hotel, and building rental and management businesses primarily in Thailand, Japan, and Philippines. More details

ERW fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	1/6
Past Performance	5/6
Financial Health	2/6
Dividends	1/6

Rewards

Price-To-Earnings ratio (14.7x) is below the Hospitality industry average (25.7x)

Revenue is forecast to grow 7.5% per year

Earnings grew by 45.3% over the past year

Trading at good value compared to peers and industry

Analysts in good agreement that stock price will rise by 54.4%

Risk Analysis

Interest payments are not well covered by earnings

Earnings are forecast to decline by an average of 5.9% per year for the next 3 years

Community Narratives

Create a narrative

Narratives bring a range of perspectives from our community.

Analyst Price Target

Consensus Narrative from 17 Analysts

Holiday Inn Pattaya Renovation May Improve Occupancy But Profit Margins Could Shrink Amid Challenges

Key Takeaways Revenue growth is likely to benefit from expansions in the mid-scale, luxury, and budget segments, along with effective yield management. Strategic moves like partnerships and IPO plans could boost capital, enabling hotel portfolio expansion and strengthening long-term earnings.

View narrative

฿5.19

35.2% undervalued

7.71%

Revenue growth p.a.

2 days ago

My Notes

Capture your thoughts, links and company narrative

The Erawan Group Public Company Limited Competitors

Laguna Resorts & Hotels

SET:LRH

฿6.6b

Shangri-La Hotel

SET:SHANG

฿5.6b

OHTL

SET:OHTL

฿4.7b

S Hotels and Resorts

SET:SHR

฿7.2b

Price History & Performance

Summary of share price highs, lows and changes for Erawan Group
Historical stock prices
Current Share Price	฿3.36
52 Week High	฿5.15
52 Week Low	฿3.12
Beta	0.65
1 Month Change	-12.04%
3 Month Change	-18.05%
1 Year Change	-34.76%
3 Year Change	7.69%
5 Year Change	-28.51%
Change since IPO	-44.77%

Recent updates

Shareholder Returns

	ERW	TH Hospitality	TH Market
7D	-0.6%	-1.0%	-2.9%
1Y	-34.8%	-25.0%	-5.6%

Return vs Industry: ERW underperformed the TH Hospitality industry which returned -23.4% over the past year.

Return vs Market: ERW underperformed the TH Market which returned -2.9% over the past year.

Price Volatility

Is ERW's price volatile compared to industry and market?
ERW volatility
ERW Average Weekly Movement	5.1%
Hospitality Industry Average Movement	3.9%
Market Average Movement	4.6%
10% most volatile stocks in TH Market	9.5%
10% least volatile stocks in TH Market	2.0%

Stable Share Price: ERW has not had significant price volatility in the past 3 months compared to the TH market.

Volatility Over Time: ERW's weekly volatility (5%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1982	n/a	Youssef Khomri	www.theerawan.com

The Erawan Group Public Company Limited engages in hotel, and building rental and management businesses primarily in Thailand, Japan, and Philippines. The company operates hotels and resorts under the Grand Hyatt Erawan Bangkok, IBIS, JW Marriott Bangkok, The Naka Island, Courtyard by Marriott Bangkok, Holiday Inn Pattaya, IBIS Styles, Novotel Bangkok Sukhumvit 4, Holiday Inn Cebu City, Mercure Hotels, and HOP INN names. It rents commercial retail property under the name Erawan Bangkok; and manages Ploenchit Center, an office building.

The Erawan Group Public Company Limited Fundamentals Summary

How do Erawan Group's earnings and revenue compare to its market cap?
ERW fundamental statistics
Market cap	฿16.42b
Earnings (TTM)	฿1.12b
Revenue (TTM)	฿7.70b

14.7x

P/E Ratio

2.1x

P/S Ratio

Is ERW overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
ERW income statement (TTM)
Revenue	฿7.70b
Cost of Revenue	฿3.19b
Gross Profit	฿4.51b
Other Expenses	฿3.39b
Earnings	฿1.12b

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	0.23
Gross Margin	58.54%
Net Profit Margin	14.51%
Debt/Equity Ratio	146.4%

How did ERW perform over the long term?

See historical performance and comparison

Dividends

2.1%

Current Dividend Yield

29%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/01/31 11:43
End of Day Share Price	2025/01/31 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

The Erawan Group Public Company Limited is covered by 36 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Nuanpun Noiruchchukorn	Asia Plus Securities Company Limited
Charti Phrawphraikul	BofA Global Research
Narumon Ekasamut	Bualuang Securities PCL

ERW Stock Overview

Rewards

Risk Analysis

Holiday Inn Pattaya Renovation May Improve Occupancy But Profit Margins Could Shrink Amid Challenges

The Erawan Group Public Company Limited Competitors

SET:LRH

฿6.6b

SET:SHANG

฿5.6b

SET:OHTL

฿4.7b

SET:SHR

฿7.2b

Price History & Performance

Recent News & Updates

Now 25% overvalued

Consensus EPS estimates increase by 10%

The Erawan Group Public Company Limited Provides Revenue Guidance for the Second Half of 2024

Second quarter 2024 earnings: EPS and revenues exceed analyst expectations

The Erawan Group Public Company Limited Appoints Amporn Kanjanakumnerd as Advisory to its Board of Directors, Starting from July 3, 2024, Onwards

Recent updates

Now 25% overvalued

Consensus EPS estimates increase by 10%

The Erawan Group Public Company Limited Provides Revenue Guidance for the Second Half of 2024

Second quarter 2024 earnings: EPS and revenues exceed analyst expectations

The Erawan Group Public Company Limited Appoints Amporn Kanjanakumnerd as Advisory to its Board of Directors, Starting from July 3, 2024, Onwards

New minor risk - Shareholder dilution

First quarter 2024 earnings released: EPS: ฿0.092 (vs ฿0.053 in 1Q 2023)

The Erawan Group Public Company Limited Announces Director Appointments

Upcoming dividend of ฿0.07 per share

Full year 2023 earnings: Revenues and EPS in line with analyst expectations

The Erawan Group Public Company Limited, Annual General Meeting, Apr 23, 2024

Third quarter 2023 earnings: EPS exceeds analyst expectations

Consensus EPS estimates increase by 19%

Second quarter 2023 earnings: EPS and revenues exceed analyst expectations

Consensus EPS estimates increase by 11%

Investor sentiment improves as stock rises 15%

The Erawan Group Public Company Limited to Report Q3, 2023 Results on Nov 14, 2023

First quarter 2023 earnings released: EPS: ฿0.053 (vs ฿0.069 loss in 1Q 2022)

Full year 2022 earnings released: ฿0.049 loss per share (vs ฿0.56 loss in FY 2021)

Price target increased by 8.8% to ฿5.43

The Erawan Group Public Company Limited to Report Q1, 2023 Results on May 12, 2023

Price target increased to ฿4.98

The Erawan Group Public Company Limited, Annual General Meeting, Apr 25, 2023

Third quarter 2022 earnings: EPS and revenues exceed analyst expectations

Consensus estimates of losses per share improve by 25%

the Erawan Group Public Company Limited Announces Executive Changes, Effective 1St January 2023

Less than half of directors are independent

Second quarter 2022 earnings: EPS and revenues exceed analyst expectations

The Erawan Group Public Company Limited to Report Q2, 2022 Results on Aug 11, 2022

Consensus forecasts updated

Price target increased to ฿3.97

Price target increased to ฿3.87

Now 21% undervalued

Less than half of directors are independent

The Erawan Group Public Company Limited, Annual General Meeting, Apr 26, 2022

Full year 2021 earnings: EPS and revenues exceed analyst expectations

Consensus revenue estimates fall by 16%

An unknown buyer completed the acquisition of 99% stake in Erawan Samui Co., Ltd. from The Erawan Group Public Company Limited (SET:ERW).

Third quarter 2021 earnings released: ฿0.14 loss per share (vs ฿0.20 loss in 3Q 2020)

Second quarter 2021 earnings released: ฿0.23 loss per share (vs ฿0.25 loss in 2Q 2020)

Consensus revenue estimates fall to ฿1.46b

Consensus EPS estimates fall to -฿0.38

Consensus revenue estimates fall to ฿2.23b

First quarter 2021 earnings released: ฿0.20 loss per share (vs ฿0.041 loss in 1Q 2020)

Price target increased to ฿4.09

Analysts lower revenue estimates to ฿3.20b

Full year 2020 earnings released: ฿0.68 loss per share (vs ฿0.18 profit in FY 2019)

Price target raised to ฿4.00

Revenue and earnings beat expectations

The Erawan Group Public Company Limited, Annual General Meeting, Apr 27, 2021

New 90-day high: ฿4.60

New 90-day high: ฿4.28

Price target raised to ฿3.54

Analysts lower EPS estimates to -฿0.60

Third quarter 2020 earnings released: ฿0.20 loss per share

Revenue and earnings beat expectations

New 90-day low: ฿2.34

New 90-day low: ฿3.04

New 90-day low - ฿3.12