Erawan Group Past Earnings Performance
Past criteria checks 2/6
Erawan Group has been growing earnings at an average annual rate of 66.4%, while the Hospitality industry saw earnings growing at 40.1% annually. Revenues have been growing at an average rate of 31.3% per year. Erawan Group's return on equity is 9.2%, and it has net margins of 10.6%.
Key information
66.42%
Earnings growth rate
71.11%
EPS growth rate
| Hospitality Industry Growth | -8.34% |
| Revenue growth rate | 31.33% |
| Return on equity | 9.24% |
| Net Margin | 10.57% |
| Next Earnings Update | 15 May 2026 |
Recent past performance updates
Recent updates
ERW: Cash Dividend And Premium P E Multiple Will Support Future Upside
Analysts have trimmed their fair value estimate for Erawan Group to THB4.67 from THB4.74, reflecting slightly higher discount rate assumptions and a more cautious view on future profit margins, even as revenue growth expectations and forward P/E remain broadly aligned with prior forecasts. What's in the News A board meeting is scheduled for February 24, 2026, with an agenda to consider a cash dividend payment, as notified to the President of the Stock Exchange of Thailand (Key Developments).ERW: Dividend Policy And Premium P E Multiple Will Support Upside
Analysts have nudged their price target for Erawan Group slightly lower to THB4.74 from THB4.80, reflecting small adjustments to fair value, discount rate, revenue growth, profit margin, and future P/E assumptions. What's in the News Board meeting scheduled for February 24, 2026 to consider a cash dividend payment, as notified to the President of the Stock Exchange of Thailand (Key Developments).ERW: Higher Future P E And Dividend Outlook Will Support Upside Potential
Analysts have nudged their price target on Erawan Group slightly higher, reflecting updated assumptions that include a fair value shift from THB 4.69 to THB 4.74, a higher discount rate, and revised expectations for revenue growth, profit margin, and future P/E. What's in the News A board meeting is scheduled for February 24, 2026, with an agenda that includes considering a cash dividend payment, as disclosed to the Stock Exchange of Thailand (Key Developments).
ERW: Dividend Plan And Slightly Higher P/E Assumption Will Support Upside Potential
Analysts have inched up their fair value estimate for Erawan Group to THB3.10 from THB3.00, citing slightly higher assumptions for revenue growth, profit margin and future P/E, along with an updated discount rate. What's in the News Board meeting scheduled for February 24, 2026, to consider a cash dividend payment, as disclosed to the Stock Exchange of Thailand (company filing).ERW: Higher Discount Rate And Dividend Plan Will Shape Balanced Outlook
Analysts have adjusted their view on Erawan Group, with the THB price target now reflecting a slightly higher discount rate, a more conservative revenue growth outlook, stronger projected profit margins, and a lower future P/E. Together, these factors point to a more earnings-focused rationale behind the updated valuation.ERW: Future Asoke Lease And Lower Discount Rate Signal Balanced Outlook
Analysts have raised their price target for Erawan Group, citing adjustments to fair value, discount rate, revenue, profit margin, and expected future P/E to support the higher THB valuation. What's in the News Board meeting scheduled for Nov 24, 2025 to consider a long term land lease agreement with Akkara Sarapa Company Limited, the landowner.ERW: Asoke Land Lease Will Support Future Margin Expansion And Upside Potential
Analysts have raised their fair value estimate for Erawan Group to ฿4.69 from ฿4.62, citing updated assumptions around the discount rate, revenue growth, profit margin and future P/E expectations as the main drivers of the change. What's in the News Board meeting scheduled for Nov 24, 2025 to review and approve a long term land lease agreement with Akkara Sarapa Company Limited for a plot near BTS Asoke Station in Bangkok, covering 20 41.8 rai (Key Developments).ERW: Asoke Land Lease Will Support Future Margin Expansion And Upside Potential
Analysts have slightly adjusted their price target for Erawan Group, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E. Together, these factors point to a refined view of the stock's risk and earnings potential in monetary terms.ERW: Asoke Land Lease Will Support Future Margin Expansion And Upside Potential
Analysts have trimmed their price target for Erawan Group slightly, pointing to a modestly lower fair value per share of THB4.62 from THB4.66. This reflects a higher discount rate, a small adjustment to revenue growth assumptions, a higher future P/E multiple, and slightly softer profit margin expectations.ERW: Asoke Land Lease Will Support Future Margin Expansion And Upside Potential
Analysts have trimmed their price target on Erawan Group slightly to THB 4.66 from THB 4.71, citing modestly lower discount rate and revenue growth assumptions, a marginally improved profit margin outlook, and a slightly reduced expected future P E multiple. What's in the News Board approves entry into a long term land lease agreement with Akkara Sarapa Company Limited for a 20 41.8 rai plot near BTS Asoke Station in Bangkok, positioning the company for future development in a prime transit oriented location (Board Meeting disclosure).ERW: Long-Term Asoke Land Lease Will Support Margin Expansion
Analysts have nudged their price target on Erawan Group slightly higher to reflect a modest increase in fair value, supported by expectations of stronger profit margins and a marginally lower discount rate, despite tempering revenue growth and future P/E assumptions. What's in the News The board approved entry into a long-term land lease agreement with Akkara Sarapa Company Limited for a 20-41.8 rai plot near BTS Asoke Station in Bangkok, positioning the group for a new hospitality or mixed-use project in a prime transit location (Board Meeting filing).
Holiday Inn Pattaya Renovation May Improve Occupancy But Profit Margins Could Shrink Amid Challenges
Revenue growth is likely to benefit from expansions in the mid-scale, luxury, and budget segments, along with effective yield management.Revenue & Expenses Breakdown
How Erawan Group makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Dec 25 | 7,930 | 838 | 2,050 | 0 |
| 30 Sep 25 | 7,897 | 843 | 2,010 | 0 |
| 30 Jun 25 | 7,964 | 911 | 1,995 | 0 |
| 31 Mar 25 | 8,054 | 1,209 | 2,017 | 0 |
| 31 Dec 24 | 8,039 | 1,281 | 1,997 | 0 |
| 30 Sep 24 | 7,697 | 1,117 | 1,981 | 0 |
| 30 Jun 24 | 7,584 | 1,141 | 1,944 | 0 |
| 31 Mar 24 | 7,383 | 921 | 1,889 | 0 |
| 31 Dec 23 | 7,037 | 743 | 1,815 | 0 |
| 30 Sep 23 | 6,881 | 768 | 1,744 | 0 |
| 30 Jun 23 | 6,428 | 609 | 1,653 | 0 |
| 31 Mar 23 | 5,794 | 327 | 1,531 | 0 |
| 31 Dec 22 | 4,666 | -224 | 1,365 | 0 |
| 30 Sep 22 | 3,566 | -709 | 1,210 | 0 |
| 30 Jun 22 | 2,530 | -1,321 | 1,058 | 0 |
| 31 Mar 22 | 1,793 | -1,871 | 960 | 0 |
| 31 Dec 21 | 1,536 | -2,050 | 915 | 0 |
| 30 Sep 21 | 1,512 | -2,278 | 875 | 0 |
| 30 Jun 21 | 1,693 | -2,169 | 931 | 0 |
| 31 Mar 21 | 1,506 | -2,105 | 908 | 0 |
| 31 Dec 20 | 2,337 | -1,715 | 1,043 | 0 |
| 30 Sep 20 | 3,467 | -1,066 | 1,238 | 0 |
| 30 Jun 20 | 4,537 | -509 | 1,368 | 0 |
| 31 Mar 20 | 5,864 | 108 | 1,571 | 0 |
| 31 Dec 19 | 6,416 | 446 | 1,651 | 0 |
| 30 Sep 19 | 6,412 | 450 | 1,622 | 0 |
| 30 Jun 19 | 6,347 | 448 | 1,626 | 0 |
| 31 Mar 19 | 6,300 | 485 | 1,610 | 0 |
| 31 Dec 18 | 6,313 | 536 | 1,595 | 0 |
| 30 Sep 18 | 6,174 | 518 | 1,429 | 0 |
| 30 Jun 18 | 6,190 | 556 | 1,410 | 0 |
| 31 Mar 18 | 6,188 | 584 | 1,419 | 0 |
| 31 Dec 17 | 6,037 | 506 | 1,411 | 0 |
| 30 Sep 17 | 5,881 | 448 | 1,408 | 0 |
| 30 Jun 17 | 5,806 | 424 | 1,396 | 0 |
| 31 Mar 17 | 5,736 | 383 | 1,367 | 0 |
| 31 Dec 16 | 5,652 | 367 | 1,346 | 0 |
| 30 Sep 16 | 5,614 | 364 | 1,350 | 0 |
| 30 Jun 16 | 5,455 | 289 | 1,311 | 0 |
| 31 Mar 16 | 5,381 | 247 | 1,294 | 0 |
| 31 Dec 15 | 5,286 | 195 | 1,271 | 0 |
| 30 Sep 15 | 5,256 | 146 | 1,300 | 0 |
| 30 Jun 15 | 5,065 | 83 | 1,261 | 0 |
Quality Earnings: ERW has high quality earnings.
Growing Profit Margin: ERW's current net profit margins (10.6%) are lower than last year (15.9%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: ERW has become profitable over the past 5 years, growing earnings by 66.4% per year.
Accelerating Growth: ERW's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: ERW had negative earnings growth (-34.6%) over the past year, making it difficult to compare to the Hospitality industry average (-20.5%).
Return on Equity
High ROE: ERW's Return on Equity (9.2%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/09 20:40 |
| End of Day Share Price | 2026/05/08 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
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 |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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.
Analysis Model and Snowflake
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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 Github.
Analyst Sources
The Erawan Group Public Company Limited is covered by 24 analysts. 16 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 |
|---|---|
| Teerapol Udomvej | BofA Global Research |
| Narumon Ekasamut | Bualuang Securities PCL |
| Kalvalee Thongsomaung | Bualuang Securities PCL |