Central Retail Corporation Public Company Limited

SET:CRC Stock Report

Market Cap: ฿139.9b

Central Retail Corporation Past Earnings Performance

Past criteria checks 1/6

Central Retail has been growing earnings at an average annual rate of 27.2%, while the Multiline Retail industry saw earnings growing at 5.1% annually. Revenues have been growing at an average rate of 5.4% per year. Central Retail's return on equity is 10%, and it has net margins of 2.9%.

Key information

27.23%

Earnings growth rate

27.13%

EPS growth rate

Multiline Retail Industry Growth6.54%
Revenue growth rate5.42%
Return on equity10.03%
Net Margin2.86%
Next Earnings Update17 Aug 2026

Recent past performance updates

Recent updates

Narrative Update • Jun 04

CRC: Special Dividend And Firmer Margins Will Support Steady Future Returns

Analysts have slightly increased their fair value estimate for Central Retail Corporation from THB21.90 to THB22.29, citing updated assumptions that include a modestly lower discount rate, a slightly adjusted revenue outlook, firmer profit margin expectations, and a reduced future P/E multiple. What's in the News Central Retail Corporation approved a special dividend payment of THB0.58 per share, linked to the disposal of assets relating to the Rinascente department store business.
Narrative Update • Apr 29

CRC: Special Dividend Windfall Will Support Steady Long Term Upside Prospects

Analysts have kept their THB price target for Central Retail Corporation unchanged at THB21.90, citing relatively steady assumptions on fair value, profit margin and future P/E, with only modest adjustments to the discount rate and revenue growth outlook. What's in the News Approved special dividend of THB0.58 per share, totaling THB3.50b, funded by the disposal of assets related to the Rinascente department store business, with record date on April 22, 2026 and payment scheduled for May 8, 2026 (AGM resolution, Key Developments).
Narrative Update • Apr 15

CRC: Special Dividend Payout And Slightly Softer Outlook Will Shape Prospects

Analysts have marginally lowered their fair value estimate for Central Retail Corporation, with the updated price target moving from THB22.20 to THB21.90 as they factor in slightly softer assumptions for revenue growth, profit margins and future P/E, partially offset by a small reduction in the discount rate. What's in the News Approved a special dividend of THB0.58 per share, totaling THB3.498b.
Narrative Update • Apr 01

CRC: Upcoming Dividend And Slightly Higher Fair Value Will Support Optimism

Analysts have trimmed their price target for Central Retail Corporation slightly to THB22.20 from THB22.25, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E. What's in the News A board meeting is scheduled for February 27, 2026.
Narrative Update • Mar 18

CRC: Upcoming Dividend And Higher Fair Value Will Support Renewed Optimism

Analysts have nudged their fair value estimate for Central Retail Corporation slightly higher to THB22.25 per share, reflecting updated assumptions on revenue growth, profit margins, and a modestly lower discount rate in their valuation models. What's in the News A board meeting is scheduled for February 27, 2026.
Narrative Update • Mar 02

CRC: Upcoming Dividend Will Support Renewed Optimism For Undervalued Shares

Analysts have trimmed their price target for Central Retail Corporation from THB 23.29 to THB 22.19 as they refresh their assumptions around a slightly higher expected P/E, modestly lower revenue growth, and a small uplift in projected profit margins and the discount rate. What's in the News Central Retail Corporation Public Company Limited announced an annual dividend of THB 0.5300 per share, with payment scheduled for May 8, 2026.
Narrative Update • Nov 20

CRC: Upcoming Meetings On Asset Disposal Will Drive Renewed Optimism

Analysts have slightly lowered their price target for Central Retail Corporation from $23.35 to $23.29, citing modest adjustments to expected revenue growth and updated discount rate assumptions. What's in the News A Special/Extraordinary Shareholders Meeting is scheduled for November 6, 2025, to discuss connected transactions and asset disposal related to the Rinascente Department Store business (Key Developments).
Narrative Update • Nov 03

CRC: Upcoming Asset Disposal Will Drive Further Upside Potential

Central Retail Corporation's analyst price target has been revised upwards from 22.77 THB to 23.35 THB, as analysts adjust their forecasts based on updated assumptions regarding growth and profitability. What's in the News Special/Extraordinary Shareholders Meeting scheduled for November 6, 2025, at 14:00 SE Asia Standard Time (Key Developments) Board Meeting set for September 17, 2025, with agenda items including the notification of resolutions on a connected transaction and disposal of assets related to Rinascente department store business, appointment of IFA, convening the Extraordinary General Meeting of shareholders, and consideration of other business matters (Key Developments) Valuation Changes Fair Value: Increased slightly from 22.77 THB to 23.35 THB per share.
Narrative Update • Sep 06

Khun Ty-san's Leadership And Vietnam Expansion Will Propel Earnings Growth

With no change in analyst rationale, both the discount rate and future P/E for Central Retail Corporation were essentially flat, resulting in the consensus analyst price target holding steady at THB22.77. Valuation Changes Summary of Valuation Changes for Central Retail Corporation The Consensus Analyst Price Target remained effectively unchanged, at THB22.77.
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New Narrative • Dec 05

Khun Ty-san's Leadership And Vietnam Expansion Will Propel Earnings Growth

Expansion in Vietnam through new malls and renovations aims to boost revenue and occupancy rates amid strong economic growth.

Revenue & Expenses Breakdown

How Central Retail Corporation makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

SET:CRC Revenue, expenses and earnings (THB Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
31 Mar 26246,9887,06871,4020
31 Dec 25246,0756,72171,0130
30 Sep 25241,1756,05962,6420
30 Jun 25241,7836,88761,9590
31 Mar 25242,3187,40461,6490
31 Dec 24243,9717,13363,2960
30 Sep 24259,1629,09869,8360
30 Jun 24255,6188,11170,2740
31 Mar 24252,4578,01970,0210
31 Dec 23248,3918,01669,4110
30 Sep 23247,0628,18968,9670
30 Jun 23245,4828,22067,9160
31 Mar 23242,3368,13966,2410
31 Dec 22235,4257,17563,9310
30 Sep 22229,6286,23561,8150
30 Jun 22213,1342,82059,2910
31 Mar 22202,67086257,5480
31 Dec 21195,4335956,5150
30 Sep 21187,084-1,25555,3880
30 Jun 21193,1421,82454,6720
31 Mar 21188,108-29555,0160
31 Dec 20193,3504656,2390
30 Sep 20202,0924,97157,3090
30 Jun 20208,0655,51859,5710
31 Mar 20219,2639,45160,8670
31 Dec 19218,66210,63361,2800
30 Sep 19212,0666,55561,1850
30 Jun 19208,5316,62761,0020
31 Mar 19206,16611,69360,0200
31 Dec 18202,64412,00458,9270
31 Dec 17187,5157,17854,1980
31 Dec 16174,9806,48450,9400

Quality Earnings: CRC has a large one-off gain of THB6.7B impacting its last 12 months of financial results to 31st March, 2026.

Growing Profit Margin: CRC's current net profit margins (2.9%) are lower than last year (3.1%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: CRC has become profitable over the past 5 years, growing earnings by 27.2% per year.

Accelerating Growth: CRC's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: CRC had negative earnings growth (-4.5%) over the past year, making it difficult to compare to the Multiline Retail industry average (10.5%).

Return on Equity

High ROE: CRC's Return on Equity (10%) is considered low.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/10 14:44
End of Day Share Price 2026/07/10 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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

Central Retail Corporation Public Company Limited is covered by 37 analysts. 19 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Sirichai ChalokepunratBofA Global Research
Narumon EkasamutBualuang Securities PCL
Phoowadol PhoosodngernBualuang Securities PCL