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S Hotels and Resorts Public Company Limited (SHR) Fair Value & Analysis

Consumer Cyclical · TH · Market cap 6.0B THB (≈ $182M)

What is S Hotels and Resorts Public Company Limited really worth?

SH S Hotels and Resorts Public Company Limited SHR · BK
Price1.59 THB
Fair Value2.54 THB
Upside+59.8%
Quality44/100

Below-average quality, trading 37% below our fair value of 2.54 THB.

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Strengths

Moderate debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +45.8 %/yr)
!Loss-making · -14.4% net margin
!Mixed vs. peers (6/13)
!Narrow moat 27/100
!Evidence only low, so the estimate is less certain
!The models disagree: range 0.6200 THB to 6.07 THB
!Weak on future: 3 out of 100

For context

·4.40% dividend yield
Evidence: Low Range 0.6200 THB – 6.07 THB

Fair value as of: Aug 20, 2026

From 11 valuation models · updated 12 days ago

Share price −5.4% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain.
  • The model range is unusually wide (0.6200 THB to 6.07 THB). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Price vs Fair Value (5 years)

4.39 THB 1.20 THB Fair Value 2.54 THB Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.

How to read this chart

60‑month range 1.20 THB – 4.39 THB · fair‑value band 0.6200 THB – 6.07 THB · the 1.59 THB price screens below the 2.54 THB fair value. Dashed = 300-day average. As of Aug 20, 2026.

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Analysis

S Hotels and Resorts Public Company Limited (SHR) currently trades at 1.59 THB, while our model-based Fair Value estimate is 2.54 THB, implying the stock looks roughly 37.4% undervalued today. The Quality Score stands at 44/100 (below-average quality), in the Consumer Cyclical sector. Bull case: the Growth DCF group reads highest at a median of 3.35 THB per share, and 7 of the 11 models we run sit above the 1.59 THB price. Bear case: the Dividend Discount group reads lowest at 0.6800 THB, and 4 of the 11 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, S Hotels and Resorts Public Company Limited generated revenue of 10.4B THB at a net margin of −14.4%. Revenue grew 0.6% year over year. It earns a return on equity of −10.0%. Net debt stands at 17.6B THB. Fundamentals as of Aug 20, 2026

Our scenario range runs from 0.6200 THB (bear case) to 6.07 THB (bull case); at 1.59 THB, the current price sits within 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 about 17% below its 52-week high and 35% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 12% fair-value upside, at 60%, SHR screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
5Y EBITDA Exit 0.8500 THB 2.90 THB 72
Growth DCF 1.46 THB 4.34 THB 9.97 THB 71
FCF DCF 1.69 THB 3.77 THB 10.23 THB 70
All 11 models by family
DCF Models
FCF DCF 1.69 THB 3.77 THB 10.23 THB 70
5Y Revenue Exit 0.6900 THB 2.66 THB 6.78 THB 63
5Y EBITDA Exit 0.8500 THB 2.90 THB 72
10Y Revenue Exit 0.9400 THB 4.38 THB 6.48 THB 64
10Y EBITDA Exit 0.4000 THB 2.49 THB 5.81 THB 60
Dividend Discount
Gordon GGM 0.3900 THB 0.7900 THB 1.19 THB 67
DDM Multi-Stage 0.3900 THB 0.6800 THB 0.8300 THB 67
Multiples
EV/Revenue 0.0500 THB 0.9900 THB 1.94 THB 46
Asset-Based
NCAV (Graham) 1.86 THB 2.49 THB 3.72 THB 54
Growth DCF
Growth DCF 1.46 THB 4.34 THB 9.97 THB 71
Rev-Margin DCF 0.7100 THB 3.35 THB 8.33 THB 63

Widest divergence: Growth DCF (3.35 THB) versus Dividend Discount (0.6800 THB). Highest evidence: 5Y EBITDA Exit (72).

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Key figures & financial health

P/S ratio 0.54 TTM
EPS (TTM) −0.4200 THB
Dividend yield 4.4%
Net margin −15.4% FY2025
Return on equity −10.0% TTM
Return on assets (EBIT) 0.9% avg 5y
More key figures
Profitability
Operating margin 18.0% TTM
Growth
Revenue (TTM) 10.4B THB TTM
Revenue growth (YoY) +0.6% 3y avg +5.8%
EPS growth (YoY) +51.0%
Balance sheet & cash flow
Free cash flow 868M THB FY2025
Net debt 17.6B THB FY2025 · ≈ 20.3 yrs of FCF

Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 42 · Market factors (momentum, volatility) 51

Profitability 7
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 44
Earnings quality: real cash, not paper profit
Fin. Strength 33
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 40
Distance to the 52-week high (market factor)
Net Issuance 82
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

S Hotels and Resorts Public Company Limited, together with its subsidiaries, engages in the investment and hospitality businesses. The company offers a portfolio of properties to guests in the Republic of Maldives, the Republic of Fiji, the Republic of Mauritius, the United Kingdom, and Thailand.

Full company description

S Hotels and Resorts Public Company Limited, together with its subsidiaries, engages in the investment and hospitality businesses. The company offers a portfolio of properties to guests in the Republic of Maldives, the Republic of Fiji, the Republic of Mauritius, the United Kingdom, and Thailand. S Hotels and Resorts Public Company Limited was founded in 2014 and is headquartered in Bangkok, Thailand.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

S Hotels and Resorts Public Company Limited reported revenue of 10.3B THB in FY2025 versus 4.5B THB in FY2021, a compound +22.9%/yr. Reported net income was −1.6B THB in FY2025.

Growth Quality 61/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
10.3B THB
Latest YoY
−0.5%
Avg. revenue 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.
+5.8%
Avg. revenue 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.
+45.8%
Avg. revenue growth/yr (9Y) 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.
+30.0%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue +22.9%/yr
FY21 4.5B THB
FY22 8.7B THB
FY23 9.7B THB
FY24 10.4B THB
FY25 10.3B THB
Net income
FY21 −1.2B THB
FY22 14.4M THB
FY23 86.4M THB
FY24 134M THB
FY25 −1.6B THB

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Cite: Fair Value Calculator (2026). "S Hotels and Resorts Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/SHR

Peer Group

Resorts & Casinos · 75 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 44 · Below median
Fair Value upside +60% · Top 25%
Return on assets −1% · Bottom 25%
Net margin (TTM) −14% · Bottom 25%
Operating margin (TTM) 18% · Above median
Revenue growth 1% · Below median
Dividend yield (TTM) 4.4% · Above median
Debt / equity 0.75× · Higher than median

Valuation Multiples vs Resorts & Casinos median · lower = cheaper

P/S (TTM) 0.02× · Cheaper than 75% of peers
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 29.1× · Pricier than 75% of peers
PEG 0.11× · Cheaper than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 31
FUTURE3 · sector 27
PAST0 · sector 16
HEALTH63 · sector 83
DIVIDEND88 · sector 61

Values & ESG

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

Gambling

Similar stocks

10 more Resorts & Casinos stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).

Stock Price Fair Value vs Fair Value
Las Vegas Sands Corp LVS $46.23 $51.60 +12%
Galaxy Entertainment Group 0027 HK$33.86 HK$40.46 +19%
Sands China Ltd 1928 HK$14.45 HK$19.10 +32%
MGM Resorts International, through its subsidiaries, MGM $42.28 $17.73 −58%
Wynn Resorts, Limited WYNN $102.97 $69.39 −33%
Red Rock Resorts, Inc RRR $58.40 $18.01 −69%
Boyd Gaming Corporation BYD $80.63 $151.24 +88%
Caesars Entertainment, Inc CZR $29.63 $80.92 +173%
Genting Singapore Limited G13 0.6700 SGD 0.6900 SGD +3%
Vail Resorts, Inc MTN $148.36 $132.94 −10%

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Frequently asked questions

Is S Hotels and Resorts Public Company Limited (SHR) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of 2.54 THB versus a price of 1.59 THB, about +60% upside (undervalued).
What is the fair value of SHR?
Our model-based fair value for S Hotels and Resorts Public Company Limited is 2.54 THB (as of Aug 20, 2026), built from audited fundamentals. The current price: 1.59 THB.
What is the quality score of SHR?
S Hotels and Resorts Public Company Limited has a Quality Score of 44/100. 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 S Hotels and Resorts Public Company Limited (SHR)?
S Hotels and Resorts Public Company Limited reported trailing-twelve-month revenue of about 10.4B THB (latest available figure, as of Aug 20, 2026).
What is the net profit margin of SHR?
The net profit margin of S Hotels and Resorts Public Company Limited is about −14.4%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does S Hotels and Resorts Public Company Limited pay a dividend?
S Hotels and Resorts Public Company Limited currently shows a dividend yield of about 4.40% relative to its recent price (as of Aug 20, 2026).
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