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Last close (THB)3.60+0.06 (+1.69%)as of 4 Nov 2026
Funds that hold it2One fund per scheme
Held through a master fund02 buy the stock themselves
Largest weight in a single fund5.37%Of that fund's NAV
Median weight5.19%Half the funds hold more than this
What does ERW do
The Erawan Group PCL
Owns hotels in Thailand, the Philippines and Japan, both luxury hotels run by international chains and its own Hop Inn budget brand, so revenue depends on tourist numbers and occupancy, while interest on heavy borrowing eats much of the profit
Hop Inn hotelsGrand Hyatt Erawan BangkokMarriott group hotelsibis and Novotel hotelsRental space in group buildings
Where the revenue comes from, and how much is left as profit (FY2025)
For every 100 baht of sales: cost of sales 41 · operating expenses 39 · other income adds 0 · tax and other items 9 · leaving 11 as net profit
Which funds let you invest in ERW
Sorted by weight held, largest first
Investors in Thailand can buy ERW through 2 mutual funds open to retail investors. Every one of them buys the stock directly.
The many funds holding less than 3% are usually index funds holding at market weight · Funds holding more than 8% have deliberately chosen a large position
How many funds each AMC holds it through
BBLAM
Data sourcesFunds that buy the stock themselves: top 5 holdings from the AMC's fact sheet as of 30 Sep 2026 · Funds that invest through a master fund: the master fund's portfolio from its issuer's fact sheet or prospectus · Each scheme counts as one fund · Share price: Market data · Financial statements: SEC Thailand (audited financial statements) · Ratios: Market data · Revenue by business segment: SEC Thailand (audited financial statements) · Weights are as of the report date, and funds can change their portfolios at any time · Investing involves risk. This is not investment advice.
5.00%
Buys the stock directly
+30.51%
Showing 2 of 2 funds you can buy · The full list is in the Expert view · Latest weights from portfolio reports, and funds can change their portfolios at any time · Past performance is not a guarantee of future performance
Valuation and key ratios
The Erawan Group PCL · SET · Fiscal year ends in December
Market cap17.6B THB4.89 billion shares
P/E21.2xPrice ÷ FY2025 EPS 0.17
Forward P/E16.1xBased on forecast 12-month earnings
P/S2.1x
EV/EBITDA11.5x
Dividend yield1.94%0.07 THB per share a year
ROE9.5%Net profit ÷ shareholders' equity
Debt to equity (D/E)1.21xInterest-bearing debt
Beta0.83Against SET50 (TDEX fund)
Gross margin58.7%FY2025
Operating margin19.9%FY2025
Net margin10.6%FY2025
Price ratios use the latest close shown on this page · Forward P/E, P/S and EV/EBITDA from Market data · Beta from 5 years of monthly returns · Total dividends over the last 12 months
Company health made simple
From the FY2025 statements
Sales growth19.5%Fast growth
Yearly average over the last 3 years · Latest annual sales 7.9B THB
Profit from sales11%Moderate
For every 100 baht of sales, about 11 baht is left as net profit
Dividend1.94%Pays dividends
Per year, relative to the share price · Tech stocks tend to pay little because they reinvest their profits
1-year share price+59.3%Up
Now 8.2% below its 1-year high
A rise or fall in the share price doesn't move a fund by the same amount — a fund is affected only in proportion to how much it holds
Financial statements
Revenue grows 19.5% a year on average · EPS grows N/A a year on average
Annual · last 4 fiscal years
Revenue and net profit
FY20224.6B THB−224.2M THB
FY20237.0B THB742.7M THB
FY20247.9B THB1.3B THB
FY20257.9B THB838.1M THB
Total revenue
Net profit
Quarterly · last 5 quarters
Revenue and net profit
Q2 FY20251.7B THB63.0M THB
Q3 FY20251.8B THB56.6M THB
Q4 FY20252.3B THB373.1M THB
Q1 FY20262.2B THB375.6M THB
Q2 FY20261.8B THB72.0M THB
Annual income statement, balance sheet and cash flow
Item (THB)
FY2022
FY2023
FY2024
FY2025
Total revenue
4.6B THB
7.0B THB
7.9B THB
7.9B THB
Gross profit
2.3B THB
4.0B THB
4.6B THB
4.6B THB
Operating profit
190.6M THB
1.3B THB
1.8B THB
Free cash flow = operating cash flow − capital expenditure · A cell showing N/A is an item the statement doesn't report, not a zero · Source: SEC Thailand (audited financial statements)
Technical analysis
Closed at 3.60 THB on 4 Nov 2026
Daily trendLeaning downScore −0.30 on a scale of −1 to +1 · 1211 bars
RSI(14)
49.4
ADX(14)
19.4
Position in the price range
33%
Weekly trendClear uptrendScore 0.80 on a scale of −1 to +1 · 262 bars
RSI(14)
59.0
ADX(14)
26.2
Position in the price range
83%
Monthly trendClear uptrendScore 0.67 on a scale of −1 to +1 · 61 bars
RSI(14)
56.2
ADX(14)
21.7
Position in the price range
48%
Moving averages (daily)
Period
SMA
EMA
Price vs line
10 days
3.62
3.59
Below
20 days
3.59
3.60
Above
50 days
3.66
3.59
Below
100 days
3.45
3.44
Above
200 days
Indicators (daily)
Indicator
Value
Signal
RSI(14)
49.42
Down
MACD(12,26)
−0.02
Down
ADX(14)
19.36
Neutral
ATR(14) % of price
1.26
Neutral
Support and resistance (weekly pivots)
s33
s23
s1
Trend score = average of the moving-average group and the indicator group ((up signals − down signals) ÷ number of signals) · RSI and ATR use Wilder's method · MACD uses the 12- and 26-period EMA · An ADX of 25 or above counts as a clear trend · Calculated from daily closing prices from Market data · Not investment advice
One fund counted per scheme · Funds investing through a master fund show the master fund's weight in ERW, not the look-through weight · Past performance is not a guarantee of future performance
B-SMEQBualuang Small Mid Equity Fund