The Erawan Group Public Company Limited (ERW) - Net Assets

Latest as of December 2025: ฿9.79 Billion THB ≈ $305.06 Million USD

Based on the latest financial reports, The Erawan Group Public Company Limited (ERW) has net assets worth ฿9.79 Billion THB (≈ $305.06 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿26.46 Billion ≈ $824.73 Million USD) and total liabilities (฿16.67 Billion ≈ $519.68 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check asset resilience ratio of The Erawan Group Public Company Limited to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	฿9.79 Billion
% of Total Assets	36.99%
Annual Growth Rate	4.68%
5-Year Change	62.5%
10-Year Change	92.94%
Growth Volatility	19.9

The Erawan Group Public Company Limited - Net Assets Trend (2001–2025)

This chart illustrates how The Erawan Group Public Company Limited's net assets have evolved over time, based on quarterly financial data. Also explore The Erawan Group Public Company Limited balance sheet assets for the complete picture of this company's asset base.

Annual Net Assets for The Erawan Group Public Company Limited (2001–2025)

The table below shows the annual net assets of The Erawan Group Public Company Limited from 2001 to 2025. For live valuation and market cap data, see The Erawan Group Public Company Limited (ERW) market capitalisation.

Year	Net Assets	Change
2025-12-31	฿9.79 Billion ≈ $305.06 Million	+3.11%
2024-12-31	฿9.49 Billion ≈ $295.85 Million	+49.01%
2023-12-31	฿6.37 Billion ≈ $198.55 Million	+11.33%
2022-12-31	฿5.72 Billion ≈ $178.34 Million	-5.00%
2021-12-31	฿6.02 Billion ≈ $187.72 Million	+53.31%
2020-12-31	฿3.93 Billion ≈ $122.45 Million	-33.88%
2019-12-31	฿5.94 Billion ≈ $185.19 Million	+4.08%
2018-12-31	฿5.71 Billion ≈ $177.93 Million	+5.65%
2017-12-31	฿5.40 Billion ≈ $168.41 Million	+6.52%
2016-12-31	฿5.07 Billion ≈ $158.11 Million	+3.17%
2015-12-31	฿4.92 Billion ≈ $153.25 Million	+3.86%
2014-12-31	฿4.73 Billion ≈ $147.55 Million	-9.47%
2013-12-31	฿5.23 Billion ≈ $162.98 Million	+40.78%
2012-12-31	฿3.71 Billion ≈ $115.77 Million	-1.47%
2011-12-31	฿3.77 Billion ≈ $117.49 Million	+15.17%
2010-12-31	฿3.27 Billion ≈ $102.02 Million	-7.52%
2009-12-31	฿3.54 Billion ≈ $110.31 Million	-5.84%
2008-12-31	฿3.76 Billion ≈ $117.15 Million	+0.21%
2007-12-31	฿3.75 Billion ≈ $116.90 Million	+29.04%
2006-12-31	฿2.91 Billion ≈ $90.59 Million	-27.16%
2005-12-31	฿3.99 Billion ≈ $124.37 Million	-0.21%
2004-12-31	฿4.00 Billion ≈ $124.63 Million	+2.79%
2003-12-31	฿3.89 Billion ≈ $121.25 Million	+11.44%
2002-12-31	฿3.49 Billion ≈ $108.80 Million	+6.98%
2001-12-31	฿3.26 Billion ≈ $101.70 Million	--

Equity Component Analysis

This analysis shows how different components contribute to The Erawan Group Public Company Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 220754603600.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	฿149.12 Million	1.66%
Other Components	฿8.82 Billion	98.34%
Total Equity	฿8.97 Billion	100.00%

The Erawan Group Public Company Limited Competitors by Market Cap

The table below lists competitors of The Erawan Group Public Company Limited ranked by their market capitalization.

Company	Market Cap
Xinjiang Haoyuan Natural Gas Co Ltd SHE:002700	$426.71 Million
Hyundai Green Food Co. Ltd. KO:453340	$426.78 Million
Kambi Group PLC ST:KAMBI	$426.85 Million
Shanghai Xin Nanyang Co Ltd SHG:600661	$426.86 Million
Marcus Corporation NYSE:MCS	$426.41 Million
Fleetpartners Group Ltd AU:FPR	$426.34 Million
Guangdong Anjubao Digital Tech SHE:300155	$426.23 Million
Mahindra Logistics Limited NSE:MAHLOG	$426.16 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in The Erawan Group Public Company Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 8,711,788,920 to 8,966,989,944, a change of 255,201,024 (2.9%).
Net income of 838,085,161 contributed positively to equity growth.
Dividend payments of 439,820,386 reduced retained earnings.
Other comprehensive income decreased equity by 333,790,000.
Other factors increased equity by 190,726,249.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	฿838.09 Million	+9.35%
Dividends Paid	฿439.82 Million	-4.9%
Other Comprehensive Income	฿-333.79 Million	-3.72%
Other Changes	฿190.73 Million	+2.13%
Total Change	฿-	2.93%

Book Value vs Market Value Analysis

This analysis compares The Erawan Group Public Company Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 1.53x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has decreased from 2.31x to 1.53x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2001-12-31	฿1.21	฿2.80	x
2002-12-31	฿1.21	฿2.80	x
2003-12-31	฿1.52	฿2.80	x
2004-12-31	฿1.56	฿2.80	x
2005-12-31	฿1.60	฿2.80	x
2006-12-31	฿1.04	฿2.80	x
2007-12-31	฿1.11	฿2.80	x
2008-12-31	฿1.08	฿2.80	x
2009-12-31	฿0.97	฿2.80	x
2010-12-31	฿0.90	฿2.80	x
2011-12-31	฿1.03	฿2.80	x
2012-12-31	฿1.00	฿2.80	x
2013-12-31	฿1.43	฿2.80	x
2014-12-31	฿1.18	฿2.80	x
2015-12-31	฿1.21	฿2.80	x
2016-12-31	฿1.26	฿2.80	x
2017-12-31	฿1.34	฿2.80	x
2018-12-31	฿1.41	฿2.80	x
2019-12-31	฿1.47	฿2.80	x
2020-12-31	฿0.97	฿2.80	x
2021-12-31	฿1.65	฿2.80	x
2022-12-31	฿1.26	฿2.80	x
2023-12-31	฿1.35	฿2.80	x
2024-12-31	฿1.85	฿2.80	x
2025-12-31	฿1.83	฿2.80	x

Capital Efficiency Dashboard

This dashboard shows how efficiently The Erawan Group Public Company Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 9.35%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 10.60%
• Asset Turnover: 0.30x
• Equity Multiplier: 2.95x
Recent ROE (9.35%) is above the historical average (2.12%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2001	-10.33%	-9.80%	0.28x	3.73x	฿-556.45 Million
2002	2.47%	2.19%	0.36x	3.13x	฿-206.22 Million
2003	9.19%	12.17%	0.32x	2.39x	฿-27.70 Million
2004	9.61%	13.35%	0.30x	2.41x	฿-13.79 Million
2005	7.13%	8.89%	0.30x	2.64x	฿-103.74 Million
2006	14.65%	12.11%	0.39x	3.12x	฿130.09 Million
2007	11.01%	11.85%	0.33x	2.81x	฿36.98 Million
2008	3.71%	4.09%	0.27x	3.36x	฿-236.26 Million
2009	-6.73%	-7.19%	0.24x	3.90x	฿-570.05 Million
2010	-8.78%	-8.17%	0.26x	4.14x	฿-588.11 Million
2011	13.69%	13.08%	0.31x	3.41x	฿132.46 Million
2012	3.02%	2.46%	0.34x	3.66x	฿-245.25 Million
2013	18.60%	19.92%	0.34x	2.72x	฿433.23 Million
2014	-2.45%	-2.60%	0.30x	3.19x	฿-566.99 Million
2015	4.21%	3.77%	0.35x	3.15x	฿-272.39 Million
2016	7.46%	6.52%	0.38x	3.03x	฿-124.90 Million
2017	9.66%	8.43%	0.37x	3.06x	฿-18.03 Million
2018	9.68%	8.57%	0.37x	3.06x	฿-18.01 Million
2019	7.73%	6.98%	0.36x	3.10x	฿-130.65 Million
2020	-46.65%	-77.13%	0.11x	5.56x	฿-2.16 Billion
2021	-35.85%	-145.10%	0.07x	3.73x	฿-2.76 Billion
2022	-3.74%	-4.60%	0.21x	3.81x	฿-782.91 Million
2023	11.73%	10.63%	0.30x	3.74x	฿109.70 Million
2024	14.70%	16.27%	0.30x	3.01x	฿409.56 Million
2025	9.35%	10.60%	0.30x	2.95x	฿-58.61 Million

Industry Comparison

This section compares The Erawan Group Public Company Limited's net assets metrics with peer companies in the Lodging industry.

Industry Context

Industry: Lodging
Average net assets among peers: $4,841,587,442
Average return on equity (ROE) among peers: 1.17%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
The Erawan Group Public Company Limited (ERW)	฿9.79 Billion	-10.33%	1.70x	$426.50 Million
Asia Hotel Public Company Limited (ASIA)	$4.42 Billion	23.98%	0.01x	$53.36 Million
Bound and Beyond PCL (BEYOND)	$6.30 Billion	2.49%	1.16x	$77.75 Million
Grande Asset Hotels and Property Public Company Limited (GRAND)	$3.92 Billion	-24.29%	3.67x	$8.73 Million
Laguna Resorts & Hotels Public Company Limited (LRH)	$7.39 Billion	6.78%	0.18x	$175.34 Million
Mandarin Hotel Public Company Limited (MANRIN)	$387.72 Million	8.95%	0.96x	$19.37 Million
Minor International Public Company Limited (MINT)	$12.05 Billion	11.62%	1.35x	$3.75 Billion
OHTL Public Company Limited (OHTL)	$2.12 Billion	-22.61%	2.17x	$124.23 Million
Royal Orchid Hotel (Thailand) Public Company Limited (ROH)	$2.67 Billion	-1.79%	2.13x	$35.41 Million
Shangri-La Hotel Public Company Limited (SHANG)	$4.32 Billion	5.42%	0.13x	$176.26 Million

About The Erawan Group Public Company Limited

BK:ERW Thailand Lodging

Market Cap

$426.50 Million

฿13.68 Billion THB

Market Cap Rank

#13426 Global

#141 in Thailand

Share Price

฿2.80

Change (1 day)

+11.11%

52-Week Range

฿1.82 - ฿3.24

All Time High

฿6.92