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LH Hotel Leasehold Real Estate Investment Trust (LHHOTEL) Fair Value & Analysis

Real Estate · TH · Market cap 14.6B THB

LH LH Hotel Leasehold Real Estate Investment Trust LHHOTEL · BK
Price14.20 THB
Fair Value21.57 THB
Upside+51.9%
Quality45/100
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Mixed Growth
Highly profitable · 64.6% net margin
Moderate debt · generates free cash flow
Mixed vs. peers (7/14)
Wide moat 69/100
Evidence: High Range 15.20 THB – 26.96 THB Share as image

Fair value as of: Jul 17, 2026

From 15 valuation models · updated 24 days ago

Share price +0.7% over the past month.

Below-average quality, screening 52% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (15.20 THB). The market is more pessimistic than our downside scenario.
  • Solid quality (45/100) at a price below fair value, the discount is the argument here, not the business quality.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

14.30 THB 4.74 THB Fair Value 21.57 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range 4.74 THB – 14.30 THB · fair‑value band 15.20 THB – 26.96 THB · the 14.20 THB price screens below the 21.57 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

LH Hotel Leasehold Real Estate Investment Trust (LHHOTEL) currently trades at 14.20 THB, while our model-based Fair Value estimate is 21.57 THB, implying the stock looks roughly 51.9% undervalued today. The Quality Score stands at 45/100 (below-average quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, LH Hotel Leasehold Real Estate Investment Trust generated revenue of 2.0B THB at a net margin of 64.6%. Revenue declined 4.9% year over year. It earns a return on equity of 9.7%. Net debt stands at 9.8B THB. Fundamentals as of Jul 17, 2026

Our scenario range runs from 15.20 THB (bear case) to 26.96 THB (bull case); at 14.20 THB, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 45% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -33% fair-value upside, at 52%, LHHOTEL screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF 14.86 THB 38.40 THB 76.99 THB 80
Residual Income 11.40 THB 12.58 THB 17.68 THB 76
Gordon GGM 11.64 THB 24.20 THB 38.39 THB 70
All 15 models by family
DCF Models
FCF DCF 16.37 THB 30.95 THB 77.37 THB 38
5Y Revenue Exit 5.69 THB 14.89 THB 34.02 THB 39
5Y EBITDA Exit 16.45 THB 36.65 THB 76.29 THB 41
10Y Revenue Exit 8.62 THB 26.08 THB 36.04 THB 36
10Y EBITDA Exit 16.91 THB 49.25 THB 105.80 THB 37
Dividend Discount
Gordon GGM 11.64 THB 24.20 THB 38.39 THB 70
DDM Multi-Stage 11.64 THB 20.40 THB 25.40 THB 61
Multiples
P/S Multiple 9.58 THB 12.77 THB 15.96 THB 58
P/B Multiple 16.17 THB 21.57 THB 26.96 THB 55
EV/EBIT 22.15 THB 32.56 THB 42.96 THB 53
EV/EBITDA 15.51 THB 23.69 THB 31.88 THB 54
EV/Revenue 0.5700 THB 4.70 THB 8.82 THB 43
Asset-Based
NCAV (Graham) 6.46 THB 8.65 THB 12.92 THB 50
Growth DCF
Growth DCF 14.86 THB 38.40 THB 76.99 THB 80
Economic Profit
Residual Income 11.40 THB 12.58 THB 17.68 THB 76

Widest divergence: Growth DCF (38.40 THB) versus Asset-Based (8.65 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 2.0B THB
Revenue growth (YoY) -4.9%
Net margin 64.6%
Return on equity 9.7%
Free cash flow 1.6B THB FY2025
P/E ratio 11.1
More key figures
Operating margin 96.7%
EPS (TTM) 1.25 THB
EPS growth (YoY) -3.5%
Net debt 9.8B THB FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 45/100

Of which business quality 47 · Market factors (momentum, volatility) 78

Profitability 41
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Cashflow 87
Earnings quality: real cash, not paper profit
Fin. Strength 46
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 97
Calm price path (market factor)
Momentum 62
Price trend over the last 3–12 months (market factor)
52W Momentum 83
Distance to the 52-week high (market factor)
Net Issuance 40
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

LH Hotel Leasehold Real Estate Investment Trust operates as a real estate investment trust in Thailand. It is involved in the rental of immovable properties. The company was founded in 2015 and is based in Bangkok, Thailand.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

LH Hotel Leasehold Real Estate Investment Trust reported revenue of 2.1B THB in FY2025 versus 19.3M THB in FY2021, a compound +221.6%/yr. Reported net income was 1.3B THB in FY2025.

Growth Quality 81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
2.1B THB
Latest YoY
−12.4%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+45.1%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+61.6%
Avg. growth/yr (10Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+58.4%
Revenue +221.6%/yr
FY21 19.3M THB
FY22 674M THB
FY23 1.3B THB
FY24 2.4B THB
FY25 2.1B THB
Net income
FY21 −621M THB
FY22 1.0B THB
FY23 1.6B THB
FY24 2.6B THB
FY25 1.3B THB

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Cite: Fair Value Calculator (2026). "LH Hotel Leasehold Real Estate Investment Trust Fair Value". https://www.fairvalue-calculator.com/stock/LHHOTEL

Peer Group

REIT - Hotel & Motel · 35 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 46 · Below median
Fair Value upside +52% · Above median
Return on equity (TTM) 10% · Top 25%
Return on assets 5% · Top 25%
Net margin (TTM) 65% · Top 25%
Operating margin (TTM) 97% · Top 25%
Revenue growth -5% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.70× · Higher than median

Valuation Multiples vs REIT - Hotel & Motel median · lower = cheaper

P/E (TTM) 11.1× · Cheaper than median
P/B 1.08× · Pricier than median
P/S (TTM) 7.17× · Pricier than 75% of peers
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 13.8× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 12
FUTURE 0 · sector 2
PAST 39 · sector 6
HEALTH 65 · sector 73
DIVIDEND 0 · sector 65

Insider activity: 45/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more REIT - Hotel & Motel stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Host Hotels & Resorts, Inc HST $24.50 $16.49 -33%
Ryman Hospitality Properties, Inc RHP $133.09 $48.74 -63%
COVH COVH €21.80 €21.79 -0%
Apple Hospitality REIT, Inc APLE $16.61 $12.63 -24%
Park Hotels & Resorts inc. PK $14.74 $20.58 +40%
DiamondRock Hospitality Company DRH $12.85 $8.43 -34%
Sunstone Hotel Investors, Inc SHO $11.74 $2.52 -79%
Pebblebrook Hotel Trust PEB $19.09 $25.37 +33%
Xenia Hotels & Resorts, Inc XHR $21.49 $11.63 -46%
RLJ Lodging Trust (RLJ) RLJ $12.34 $8.28 -33%

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Frequently asked questions

Is LH Hotel Leasehold Real Estate Investment Trust (LHHOTEL) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 21.57 THB versus a price of 14.20 THB, about +52% (undervalued).
What is the fair value of LHHOTEL?
Our model-based fair value for LH Hotel Leasehold Real Estate Investment Trust is 21.57 THB (as of Jul 17, 2026), built from audited fundamentals. The current price is 14.20 THB.
What is the quality score of LHHOTEL?
LH Hotel Leasehold Real Estate Investment Trust has a Quality Score of 45/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of LH Hotel Leasehold Real Estate Investment Trust (LHHOTEL)?
LH Hotel Leasehold Real Estate Investment Trust reported trailing-twelve-month revenue of about 2.0B THB (latest available figure, as of Jul 17, 2026).
What is the net profit margin of LHHOTEL?
The net profit margin of LH Hotel Leasehold Real Estate Investment Trust is about 64.6%, meaning it keeps roughly 64.6% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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