Board Change • May 15
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent Director Prachuab Prasertsang was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 30
Upcoming dividend of ฿0.25 per share Eligible shareholders must have bought the stock before 05 May 2026. Payment date: 20 May 2026. The company last paid an ordinary dividend in February 2020. The average dividend yield among industry peers is 3.3%. Board Change • Apr 30
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent Director Prachuab Prasertsang was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 03
Full year 2025 earnings released: EPS: ฿1.48 (vs ฿1.89 in FY 2024) Full year 2025 results: EPS: ฿1.48 (down from ฿1.89 in FY 2024). Revenue: ฿362.2m (down 3.6% from FY 2024). Net income: ฿39.8m (down 22% from FY 2024). Profit margin: 11% (down from 14% in FY 2024). Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Board Change • Feb 03
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent Director Prachuab Prasertsang was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jan 05
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent Director Prachuab Prasertsang was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to ฿27.00, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 17x in the Hospitality industry in Thailand. Total returns to shareholders of 8.0% over the past three years. Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ฿0.44 (vs ฿0.68 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.44 (down from ฿0.68 in 3Q 2024). Revenue: ฿94.9m (down 4.7% from 3Q 2024). Net income: ฿11.8m (down 35% from 3Q 2024). Profit margin: 13% (down from 18% in 3Q 2024). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Sep 17
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.6% to ฿25.50. The fair value is estimated to be ฿33.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 37% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ฿27.25, the stock trades at a trailing P/E ratio of 15.3x. Average trailing P/E is 21x in the Hospitality industry in Thailand. Total returns to shareholders of 11% over the past three years. Board Change • Sep 05
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent Director Prachuab Prasertsang was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: ฿0.14 (vs ฿0.26 in 2Q 2024) Second quarter 2025 results: EPS: ฿0.14 (down from ฿0.26 in 2Q 2024). Revenue: ฿74.9m (down 6.9% from 2Q 2024). Net income: ฿3.67m (down 47% from 2Q 2024). Profit margin: 4.9% (down from 8.6% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿24.30, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 19x in the Hospitality industry in Thailand. Total returns to shareholders of 9.0% over the past three years. Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ฿24.80, the stock trades at a trailing P/E ratio of 13x. Average trailing P/E is 19x in the Hospitality industry in Thailand. Total returns to shareholders of 9.3% over the past three years. Board Change • May 28
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent Director Prachuab Prasertsang was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 17
First quarter 2025 earnings released: EPS: ฿0.53 (vs ฿0.51 in 1Q 2024) First quarter 2025 results: EPS: ฿0.53 (up from ฿0.51 in 1Q 2024). Revenue: ฿97.7m (up 4.9% from 1Q 2024). Net income: ฿14.1m (up 2.3% from 1Q 2024). Profit margin: 14% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Board Change • May 06
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent Director Prachuab Prasertsang was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Apr 28
Mandarin Hotel Public Company Limited Approves Board and Audit Committee Appointments Mandarin Hotel Public Company Limited announced that at its AGM held on 25 April 2025, approved the appointment of Mr. Kowit Kokilakanistha as member of Audit Committee; Ms. Poonpit Chavalitnitikul as chairperson of Audit Committee; Mr. Phonthat Chittaya as director. Board Change • Apr 01
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 3 independent directors (7 non-independent directors). Independent Director Prachuab Prasertsang was the last independent director to join the board, commencing their role in 2024. 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 28
Full year 2024 earnings released: EPS: ฿1.89 (vs ฿1.29 in FY 2023) Full year 2024 results: EPS: ฿1.89 (up from ฿1.29 in FY 2023). Revenue: ฿375.6m (up 16% from FY 2023). Net income: ฿50.8m (up 47% from FY 2023). Profit margin: 14% (up from 11% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Feb 28
Mandarin Hotel Public Company Limited, Annual General Meeting, Apr 28, 2025 Mandarin Hotel Public Company Limited, Annual General Meeting, Apr 28, 2025, at 14:30 SE Asia Standard Time. Location: at the mandarin hotel`s mandarin a room, first floor, 662 rama 4 road, mahapruektaram district bangrak bangkok, Thailand Board Change • Dec 11
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 3 independent directors (7 non-independent directors). Independent Director Prachuab Prasertsang was the last independent director to join the board, commencing their role in 2024. 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 • Nov 14
Third quarter 2024 earnings released: EPS: ฿0.68 (vs ฿0.57 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.68 (up from ฿0.57 in 3Q 2023). Revenue: ฿99.6m (up 10% from 3Q 2023). Net income: ฿18.2m (up 18% from 3Q 2023). Profit margin: 18% (up from 17% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Board Change • Oct 21
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 3 independent directors (7 non-independent directors). Independent Director Prachuab Prasertsang was the last independent director to join the board, commencing their role in 2024. 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 14
Second quarter 2024 earnings released: EPS: ฿0.26 (vs ฿0.044 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.26 (up from ฿0.044 in 2Q 2023). Revenue: ฿80.5m (up 18% from 2Q 2023). Net income: ฿6.88m (up 476% from 2Q 2023). Profit margin: 8.6% (up from 1.7% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 101% 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 12
First quarter 2024 earnings released: EPS: ฿0.51 (vs ฿0.25 in 1Q 2023) First quarter 2024 results: EPS: ฿0.51 (up from ฿0.25 in 1Q 2023). Revenue: ฿93.1m (up 23% from 1Q 2023). Net income: ฿13.8m (up 102% from 1Q 2023). Profit margin: 15% (up from 9.0% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Apr 27
Mandarin Hotel Public Company Limited Appoints Prachuab Prasertsang as Independent Director Mandarin Hotel Public Company Limited at its annual general meeting of shareholders 2024 held on April 25, 2024, approved the appointment of Mr. Prachuab prasertsang as independent director. Reported Earnings • Feb 24
Full year 2023 earnings released: EPS: ฿1.29 (vs ฿1.48 loss in FY 2022) Full year 2023 results: EPS: ฿1.29 (up from ฿1.48 loss in FY 2022). Revenue: ฿324.0m (up 97% from FY 2022). Net income: ฿34.7m (up ฿74.6m from FY 2022). Profit margin: 11% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Feb 23
Mandarin Hotel Public Company Limited, Annual General Meeting, Apr 25, 2024 Mandarin Hotel Public Company Limited, Annual General Meeting, Apr 25, 2024, at 10:00 SE Asia Standard Time. Location: Mandarin Hotel's Mandarin A Room, 662 Rama 4 Road Mahapruektaram District Bangrak Bangkok Thailand Agenda: To consider and approve results for the year 2023; to consider and approve dividend; and to consider other matters. Valuation Update With 7 Day Price Move • Nov 23
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ฿33.00, the stock trades at a trailing P/E ratio of 29.2x. Average trailing P/E is 25x in the Hospitality industry in Thailand. Total returns to shareholders of 39% over the past three years. Reported Earnings • Nov 11
Third quarter 2023 earnings released: EPS: ฿0.57 (vs ฿0.17 loss in 3Q 2022) Third quarter 2023 results: EPS: ฿0.57 (up from ฿0.17 loss in 3Q 2022). Revenue: ฿90.3m (up 78% from 3Q 2022). Net income: ฿15.4m (up ฿19.9m from 3Q 2022). Profit margin: 17% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Board Change • Oct 24
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 2 independent directors (6 non-independent directors). Independent Director Poonpich Chaowalitnitikul was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Aug 13
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.5x 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 Risks Interest payments are not well covered by earnings (1.5x net interest cover). Shares are highly illiquid. Minor Risk Market cap is less than US$100m (฿780.3m market cap, or US$22.2m). Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: ฿0.044 (vs ฿0.45 loss in 2Q 2022) Second quarter 2023 results: EPS: ฿0.044 (up from ฿0.45 loss in 2Q 2022). Revenue: ฿68.3m (up 126% from 2Q 2022). Net income: ฿1.20m (up ฿13.2m from 2Q 2022). Profit margin: 1.7% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jun 08
Now 22% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be ฿35.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 24% over the last 3 years, while earnings per share has been flat. Board Change • May 19
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 2 independent directors (6 non-independent directors). Independent Director Poonpich Chaowalitnitikul was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Apr 10
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 2 independent directors (6 non-independent directors). Independent Director Poonpich Chaowalitnitikul was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 2 independent directors (6 non-independent directors). Independent Director Poonpich Chaowalitnitikul was the last independent director to join the board, commencing their role in 2018. 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 12
Second quarter 2022 earnings released: ฿0.45 loss per share (vs ฿0.84 loss in 2Q 2021) Second quarter 2022 results: ฿0.45 loss per share (up from ฿0.84 loss in 2Q 2021). Net loss: ฿12.1m (loss narrowed 47% from 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Reported Earnings • May 16
First quarter 2022 earnings released: ฿1.13 loss per share (vs ฿0.61 loss in 1Q 2021) First quarter 2022 results: ฿1.13 loss per share (down from ฿0.61 loss in 1Q 2021). Net loss: ฿30.3m (loss widened 84% from 1Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 2 independent directors (6 non-independent directors). Independent Director Poonpich Chaowalitnitikul was the last independent director to join the board, commencing their role in 2018. 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 27
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: ฿1.82 loss per share (up from ฿2.76 loss in FY 2020). Net loss: ฿48.8m (loss narrowed 34% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Tillkännagivande • Feb 26
Mandarin Hotel Public Company Limited Announces Redesignation of Suwanna Bhuddhaprasart from Vice Chairperson to Chairperson Mandarin Hotel Public Company Limited announced that Mrs. Suwanna Bhuddhaprasart, vice chairperson has changed the position to chairperson effective from February 24, 2022 onwards. Reported Earnings • Aug 19
Second quarter 2021 earnings released: ฿0.84 loss per share (vs ฿1.02 loss in 2Q 2020) Second quarter 2021 results: Net loss: ฿22.6m (loss narrowed 18% from 2Q 2020). 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. Reported Earnings • May 17
First quarter 2021 earnings released: ฿0.61 loss per share (vs ฿0.36 loss in 1Q 2020) First quarter 2021 results: Net loss: ฿16.5m (loss widened 71% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 28
Full year 2020 earnings released: ฿2.76 loss per share (vs ฿0.94 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: ฿105.8m (down 68% from FY 2019). Net loss: ฿74.1m (down 393% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 96% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 24
New 90-day low: ฿23.40 The company is down 2.0% from its price of ฿23.80 on 26 November 2020. The Thai market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 16% over the same period. Tillkännagivande • Sep 26
Quality Houses Public Company Limited's Subsidiary Renews Hotel Management Advisor Agreement With reference to the Board of Directors' Meeting No 8/2020 of Quality Houses Public Company Limited ("the Company") held on September 25,2020 has resolved to approve a subsidiary to renew a hotel management advisor agreement to Mandarin Hotel that is owned by The Mandarin Hotel Public Company Limited ("Mandarin"). Transaction date is After the approval of the Board of Directors' meeting. Connected parties are Employee: The Subsidiary of Quality Houses Public Company Limited ("the Subsidiary") and Employer: The Mandarin Hotel Public Company Limited ("Mandarin"). This transaction is classified as the connected transaction with the following details: Renewal of a hotel management advisor agreement to Mandarin Hotel that is owned by Mandarin which also granted the right to use the brand "Centre Point" for one year (1 October 2020 - 30 September 2021), with a renewal option upon mutual agreement. The Board of Directors shall authorize the management to have power to negotiate, agree and enter into any terms and conditions of such agreement and other related agreements and any other details as the management deem appropriated. The remuneration is based on 2% of total revenues (excluding some categories of revenues that have already declared in the hotel management advisor agreement) which is approximately THB 8 Million per year (1 October 2020 - 30 September 2021). The remuneration is calculated from forecasted total revenues of the Hotels, with the following details: Total Revenue for 2020 (October-December) is THB 107 million and for (January-September) is THB 301 million million. This transaction is considered normal support business without any trade condition. The calculate size of this transaction is 0.031% which is more than 0.03% but less than 3% of the net tangible assets ("NTA") based on the Company's consolidated financial statement as of June 30, 2020. The size of transaction is considered as a medium size. Therefore, the Company is required to get the approval from the Board of Directors and has to disclose the information to the Stock Exchange of Thailand. The remuneration is similar to that of operators in the same business.