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    Real estate development
Land & Houses Public Co., Ltd.

Land & Houses Public Co., Ltd.

3.64
THB
+0.12
(+3.41%)
0.23EPS
16.62P/E
45.17BMarket Cap
Nov 12Next Earn
Land & Houses Public Co., Ltd.
SET:LH
(Stock Exchange of Thailand)

Recent

price

3.64

P/E

ratio

16.62

div

yld

6.85%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
THB
1.4
1.61
2.02
2.1
2.73
2.3
2.56
2.95
2.89
2.54
2.54
2.74
3.02
2.28
2.15
1.81
1.67
Revenue per Share
0.33
0.47
0.47
0.54
0.8
0.69
0.73
0.88
0.88
0.84
0.6
0.58
0.7
0.63
0.46
0.31
0.23
Basic EPS, GAAP
-0.18
-0.28
0.35
-0.26
0.16
0.08
0.47
0.5
0.72
0.1
0.17
0.54
0.43
-0.53
-0.84
0.15
0.27
Free Cash Flow per Basic Share
0.21
0.29
0.44
0.33
0.4
0.66
0.7
0.7
0.75
0.65
0.6
0.55
0.5
0.55
0.45
0.3
0.25
Dividend per Share
2.29
2.44
2.61
2.79
3.9
3.89
3.98
4.19
4.18
4.39
4.18
4.18
4.32
4.31
4.31
4.34
4.31
Book Value per Share
1.88
1.86
2.07
2.26
3.56
3.68
3.66
3.88
3.62
3.91
4.17
4.18
4.31
4.31
4.31
4.34
4.31
Tangible Book Value per Share
12,031
12,031
12,031
12,031
10,465
11,535
11,772
11,933
11,950
11,950
11,950
11,950
11,950
11,950
11,950
11,950
11,977
Basic Weighted Avg Shares
16,896
19,397
24,290
25,302
28,572
26,514
30,158
35,200
34,574
30,407
30,340
32,710
36,083
27,260
25,682
21,572
19,996
Sales/Revenue/Turnover
19.64
17.29
20.5
23.22
22.26
21.22
21.85
20.64
21.39
19.67
18.73
20.25
20.29
14.43
10.72
8.07
5.97
Operating Margin (%)
318
351
494
509
454
382
390
543
616
739
951
1,517
1,667
1,878
2,035
2,022
2,070
Depreciation Expense
3,971
5,609
5,682
6,478
8,423
7,920
8,618
10,463
10,475
10,025
7,145
6,936
8,313
7,482
5,491
3,716
2,724
Net Income, GAAP
23.58
20.2
16.37
14.33
16.36
15.6
14.69
14.49
13.98
14.61
14.58
15.57
15.37
9.55
10.38
6.13
4.64
Effective Tax Rate (%)
23.5
28.92
23.39
25.6
29.48
29.87
28.58
29.72
30.3
32.97
23.55
21.21
23.04
27.45
21.38
17.23
13.62
Profit Margin (%)
20,823
21,525
23,682
27,549
35,819
43,072
33,736
31,470
35,093
37,671
38,264
32,342
30,562
33,522
35,315
34,016
32,713
Working Capital
16,137
17,941
20,163
26,104
25,206
32,510
32,598
32,851
35,793
34,226
44,243
43,975
44,215
47,035
52,027
49,486
50,769
LT Debt
28,551
30,472
32,603
34,843
44,275
46,895
47,952
50,809
50,752
53,183
50,601
50,646
52,285
52,233
52,224
52,630
52,262
Total Equity
5.58
4.95
7.06
7.86
10.62
7.9
6.15
8.31
6.52
7.66
5.21
5.11
5.81
4.95
3.38
2.01
1.05
Return on Invested Capital (%)
9.02
11.04
10.33
10.59
10.39
8.85
9.35
10.78
11.01
10.48
7.31
6.84
7.95
7.44
5.67
4.23
3.38
Return on Capital (%)
14.79
19.71
18.68
19.93
22.05
17.91
18.62
21.57
20.94
19.57
13.96
13.89
16.38
14.52
10.66
7.19
5.27
Return on Common Equity (%)

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
30,004
29,750
29,730
LT Borrowings
40,447
40,565
40,794
LT Finance Leases
9,039
8,849
9,975
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
11,950
11,950
11,950
Market Capitalization
45,170
44,931
45,170

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
69,809
69,392
68,003
Cash, Cash Equivalents & STI
6,431
6,169
5,724
Accounts Receivable, Net
477
388
342
Inventories
60,959
60,709
60,121
Total Current Liabilities
35,793
35,780
35,289
Payables & Accruals
3,260
3,368
2,685
ST Debt
30,004
29,750
29,730
Deferred Revenue
1,411
1,579
1,781

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
1.2%
0.8%
0.78%
Free Cash Flow
44.65%
-17.98%
-117.69%
Net Income, GAAP
-5.47%
-10.4%
-32.32%
Sales/Revenue/Turnover
-1.17%
-5.62%
-16%
Total Cash Common Dividend
-6.26%
-11.79%
-33.33%

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
6,808
6,696
5,915
6,263
25,682
2025
4,827
5,907
5,202
5,635
21,572
2026
4,652
4,507
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.1
0.09
0.05
0.22
0.46
2025
0.07
0.12
0.07
0.06
0.31
2026
0.06
0.04
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.32
- -
0.15
0.45
2025
- -
0.18
- -
0.13
0.3
2026
- -
0.11
- -
- -
- -
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Business
Land and Houses Public Company Limited Land and Houses Public Company Limited (LH.BK) engages primarily in real estate development, offering single detached houses, duo homes, townhomes, and residential condominiums; prebuilt houses fully furnished with built-in appliances, electrical systems, and decorations; and rental properties including shopping malls, hotels, and apartments, complemented by project administration, management, home repair services, and hotel operations. The company targets middle- to upper-income customers in the residential sector, with developments concentrated in Greater Bangkok and its vicinities, as well as major provinces such as Chiang Mai, Chiang Rai, Khon Kaen, Nakhon Ratchasima, Udon Thani, Hua Hin, Phuket, Mahasarakham, and Ayutthaya, alongside limited activities in the United States. Founded in 1973 and incorporated as a limited company in 1983, Land and Houses Public Company Limited maintains its headquarters at Q. House Lumpini Building, South Sathon Road, Sathon District, Bangkok, Thailand. In recent developments, the company unveiled its 2025 business plan targeting 23 billion baht in bookings, 20 billion baht in property transfers, and 9.24 billion baht in revenue, alongside consistent launches of new single detached house projects valued at approximately 27 billion baht and the resumption of asset monetization through potential sales of hotels like Grand Center Point in Pattaya. Land and Houses Public Company Limited announced a sustainable development policy in May 2023 emphasizing balanced growth across economic, governance, social, and environmental dimensions, including initial greenhouse gas emissions reporting certified under ISO 14064-1 and innovations such as AirPlus2 air filtration systems, solar roofs, solar-powered wastewater treatment, Green Creation Design for eco-oriented residences, and the YON multipurpose bin. The company earned recognitions including the Credence Award in Real Estate 2023 for quality and service, BCI Asia TOP 10 Developer Awards 2023, Chief Innovation Officers award, Good Design Award 2023 in Japan for YON, and Carbon Footprint Certification 2023.