S Hotels and Resorts PCL

S Hotels and Resorts PCL maintains a capital structure characterized by significant leverage, with long-term debt of 16.26 billion THB against total equity of 13.37 billion THB, resulting in a debt-to-equity ratio of 1.22. The company holds 2.29 billion THB in cash and equivalents, but this is insufficient to cover total liabilities of 19.63 billion THB, leading to a negative net cash position. Liquidity is constrained, evidenced by a current ratio of 0.81, indicating that current assets do not fully cover current liabilities. The market values the company at a market capitalization of 6.15 billion THB, trading at a price-to-book ratio of 0.46, which suggests the market prices the equity at a discount to its book value.

Profitability metrics indicate operational challenges, with the company reporting a net loss of 1.59 billion THB on revenues of 10.30 billion THB. The return on equity stands at -11.19%, and return on assets is -4.54%, reflecting the inability to generate positive returns on invested capital during the latest period. Operating income was negative at -631.32 million THB, despite a gross profit of 4.02 billion THB, suggesting high operating expenses relative to revenue. The enterprise value to EBITDA ratio is negative at -34.52, consistent with the negative earnings before interest, taxes, depreciation, and amortization.

Revenue concentration and segment details are not explicitly provided in the available data, limiting the analysis of specific business unit performance. The company operates within the broader Hotels, Restaurants & Leisure industry, where performance is often tied to occupancy rates and average daily rates. Without specific segment breakdowns, the revenue of 10.30 billion THB is attributed to the consolidated hospitality operations.

Growth trajectory analysis is limited by the absence of historical period data in the input. The current revenue figure of 10.30 billion THB serves as the baseline for the latest normalized period. Without prior year comparisons, year-over-year growth rates cannot be calculated. The company's ability to sustain or grow revenue depends on broader market conditions in the hospitality sector and its operational efficiency.

Risk assessment highlights medium liquidity risk and low dilution risk. The key flag notes that net cash is negative after subtracting total debt, emphasizing the leverage burden. The current ratio of 0.81 further underscores short-term liquidity pressures. Dilution risk is assessed as low, with basic and diluted shares outstanding being identical at 3.59 billion shares, indicating no immediate options or convertible securities impacting share count.

Recent observations include analyst estimates with a mean price target of 2.54 THB and a median of 2.60 THB, suggesting potential upside from the current market price of 1.71 THB. The mean recommendation is 1.67, indicating a buy sentiment among analysts, with one strong buy and two buy ratings. No specific filing, news, or transcript observations are provided in the input data.

Revenue grew at a 22.9% CAGR over four years, demonstrating strong top-line expansion despite recent volatility.

The debt-to-equity ratio of 1.22 is significantly lower than the cohort median of 4.49, indicating conservative leverage.

Gross profit reached 4.02 billion THB in FY2026, showing robust underlying profitability before operating expenses.

Dilution risk is assessed as low, providing some protection for existing shareholders against equity erosion.

The company faces high credit risk, which could impair its ability to secure favorable financing terms.

Revenue THB 2.63B, +0,5% YoY; Operating income +11,1% YoY.

• ▍Revenue THB 2.63B, +0,5% YoY
• ▍Operating income +11,1% YoY
• ▍Net income +50,6% YoY
• ▍Free cash flow −0,9% YoY
• ▍Net margin 10.0%

Revenue THB 2.70B, +3,5% YoY; Operating income −515,9% YoY.

• ▍Revenue THB 2.70B, +3,5% YoY
• ▍Operating income −515,9% YoY
• ▍Net income −1 399,7% YoY
• ▍Free cash flow −1 271,5% YoY
• ▍Net margin -71.0%

Revenue THB 2.58B, +1,8% YoY; Operating income +23,7% YoY.

• ▍Revenue THB 2.58B, +1,8% YoY
• ▍Operating income +23,7% YoY
• ▍Net income +340,8% YoY
• ▍Free cash flow +318,3% YoY
• ▍Net margin 5.0%

Revenue THB 2.40B, −2,8% YoY; Operating income −21,1% YoY.

• ▍Revenue THB 2.40B, −2,8% YoY
• ▍Operating income −21,1% YoY
• ▍Net income +133,8% YoY
• ▍Free cash flow −68,2% YoY
• ▍Net margin 1.0%

Revenue THB 2.62B; Operating income THB 439.3M.

• ▍Revenue THB 2.62B
• ▍Operating income THB 439.3M
• ▍Net margin 6.7%

Revenue THB 2.61B; Operating income THB 402.8M.

• ▍Revenue THB 2.61B
• ▍Operating income THB 402.8M
• ▍Net margin 5.7%

Revenue THB 2.53B; Operating income THB 312.6M.

• ▍Revenue THB 2.53B
• ▍Operating income THB 312.6M
• ▍Net margin -2.1%

Revenue THB 2.47B; Operating income THB 276.2M.

• ▍Revenue THB 2.47B
• ▍Operating income THB 276.2M
• ▍Net margin -2.9%

Revenue THB 10.30B, −0,5% YoY; Operating income −143,5% YoY.

• ▍Revenue THB 10.30B, −0,5% YoY
• ▍Operating income −143,5% YoY
• ▍Net income −1 284,2% YoY
• ▍Free cash flow −366,9% YoY
• ▍Net margin -15.4%

Revenue THB 10.35B, +6,7% YoY; Operating income +4,2% YoY.

• ▍Revenue THB 10.35B, +6,7% YoY
• ▍Operating income +4,2% YoY
• ▍Net income +55,0% YoY
• ▍Free cash flow +373,6% YoY
• ▍Net margin 1.3%

Revenue THB 9.70B, +11,6% YoY; Operating income +60,4% YoY.

• ▍Revenue THB 9.70B, +11,6% YoY
• ▍Operating income +60,4% YoY
• ▍Net income +500,8% YoY
• ▍Free cash flow −132,9% YoY
• ▍Net margin 0.9%

Revenue THB 8.69B, +92,6% YoY; Operating income +229,8% YoY.

• ▍Revenue THB 8.69B, +92,6% YoY
• ▍Operating income +229,8% YoY
• ▍Net income +101,2% YoY
• ▍Free cash flow +238,8% YoY
• ▍Net margin 0.2%