Zen Group PCL (BKK:ZEN) PE Ratio without NRI: 35.31 (As of Jul. 16, 2026) — 13% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BKK:ZEN Zen Corp Group PCL BKK:ZEN
87 GF Score
Price ฿5.65
GF Value ฿6.68
Valuation Modestly Undervalued
! 5 Warning Signs
View Full Analysis

What is Zen Group PCL PE Ratio without NRI?

Zen Group PCL BKK:ZEN -0.88% 87 PE Ratio without NRI is 35.31 as of Jul. 16, 2026, which is 13% above its 10-year median of 31.29. GuruFocus rates BKK:ZEN with a GF Score™ of 87/100 and a GF Value™ of ฿6.68 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 243 Restaurants companies, Zen Group PCL ranks worse than 77.78% on this metric.

The PE Ratio without NRI, or P/E Ratio without non-recurring items, is a financial ratio used to compare a company's market price to its EPS without NRI. As of today (2026-07-16), Zen Group PCL's share price is ฿5.65. Zen Group PCL's EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2026 was ฿0.16. Therefore, Zen Group PCL's PE Ratio without NRI for today is 35.31.

During the past 11 years, Zen Group PCL's highest PE Ratio without NRI was 1026.67. The lowest was 13.38. And the median was 31.29.

Zen Group PCL's EPS without NRI for the three months ended in Mar. 2026 was ฿0.05. Its EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2026 was ฿0.16.

As of today (2026-07-16), Zen Group PCL's share price is ฿5.65. Zen Group PCL's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 was ฿0.16. Therefore, Zen Group PCL's PE Ratio (TTM) for today is 35.31.

During the past years, Zen Group PCL's highest PE Ratio (TTM) was 1026.67. The lowest was 13.38. And the median was 31.29.

Zen Group PCL's EPS (Diluted) for the three months ended in Mar. 2026 was ฿0.05. Its EPS (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 was ฿0.16.

Zen Group PCL's EPS (Basic) for the three months ended in Mar. 2026 was ฿0.05. Its EPS (Basic) for the trailing twelve months (TTM) ended in Mar. 2026 was ฿0.16.


Zen Group PCL  (BKK:ZEN) PE Ratio without NRI Explanation

The PE Ratio can be viewed as the number of years it takes for the company to earn back the price you pay for the stock. For example, if a company earns $2 a share per year, and the stock is traded at $30, the PE Ratio is 15. Therefore it takes 15 years for the company to earn back the $30 you paid for its stock, assuming the earnings stays constant over the next 15 years.

In real business, earnings never stay constant. If a company can grow its earnings, it takes fewer years for the company to earn back the price you pay for the stock. If a company's earnings decline it takes more years. As a shareholder, you want the company to earn back the price you pay as soon as possible. Therefore, lower P/E stocks are more attractive than higher P/E stocks so long as the PE Ratio is positive. Also for stocks with the same PE Ratio, the one with faster growth business is more attractive.

If a company loses money, the PE Ratio becomes meaningless.

To compare stocks with different growth rates, Peter Lynch invented a ratio called PEG Ratio. PEG Ratio is defined as the PE Ratio divided by the growth ratio. He thinks a company with a PE Ratio equal to its growth rate is fairly valued. Still he said he would rather buy a company growing 20% a year with a PE Ratio of 20, instead of a company growing 10% a year with a PE Ratio of 10.

Because the PE Ratio measures how long it takes to earn back the price you pay, the PE Ratio can be applied to the stocks across different industries. That is why it is the one of the most important and widely used indicators for the valuation of stocks.

Similar to the PE Ratio or PS Ratio or Price-to-Operating-Cash-Flow or Price-to-Free-Cash-Flow , the PE Ratio without NRI measures the valuation based on the earning power of the company. This is where it is different from the PB Ratio , which measures the valuation based on the company's balance sheet.


Be Aware

Investors need to be aware that the PE Ratio can be misleading a lot of times, especially when the underlying business is cyclical and unpredictable. As Peter Lynch pointed out, cyclical businesses have higher profit margins at the peaks of the business cycles. Their earnings are high and PE Ratio s are artificially low. It is usually a bad idea to buy a cyclical business when the PE Ratio is low. A better ratio to identify the time to buy a cyclical businesses is the PS Ratio.


Zen Group PCL PE Ratio without NRI Related Terms


Zen Group PCL PE Ratio without NRI Historical Data

* Premium members only.

The historical data trend for Zen Group PCL's PE Ratio without NRI can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Zen Group PCL PE Ratio without NRI Chart

Zen Group PCL Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
PE Ratio without NRI
Get a 7-Day Free Trial Premium Member Only Premium Member Only At Loss 33.92 17.36 37.89 40.67

Zen Group PCL Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
PE Ratio without NRI Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 34.72 22.95 34.72 40.67 33.44

BKK:ZEN vs MCD, SBUX, YUM: PE Ratio without NRI Comparison

For the Restaurants subindustry, Zen Group PCL's PE Ratio without NRI, along with its competitors' market caps and PE Ratio without NRI data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Zen Group PCL PE Ratio without NRI vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Zen Group PCL's PE Ratio without NRI distribution charts can be found below:

* The bar in red indicates where Zen Group PCL's PE Ratio without NRI falls into.


BKK:ZEN
87GF Score
Zen Corp Group PCL BKK:ZEN
PE Ratio without NRI is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Zen Group PCL PE Ratio without NRI Calculation

The PE Ratio without NRI, or P/E Ratio without non-recurring items, is a financial ratio used to compare a company's market price to its EPS without NRI. Regular PE Ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than regular PE Ratio.

Zen Group PCL's PE Ratio without NRI for today is calculated as

PE Ratio without NRI=Share Price/ EPS without NRI
=5.65/0.160
=35.31

Zen Group PCL's Share Price of today is ฿5.65.
Zen Group PCL's EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ฿0.16.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

There are at least three kinds of PE Ratios used by different investors. They are Trailing Twelve Month PE Ratio, Forward PE Ratio, or PE Ratio without NRI. A new PE Ratio based on inflation-adjusted normalized PE Ratio is called Shiller PE Ratio, after Yale professor Robert Shiller.

In the case of PE Ratio without NRI, the reported earnings less the non-recurring items are used.

In the calculation of PE Ratio (TTM), the earnings per share used are the earnings per share over the past 12 months.

For Forward PE Ratio, the earnings are the expected earnings for the next twelve months.

For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. Since it looks at the average over the last 10 years, Shiller PE Ratio is also called PE10.

Frequently Asked Questions Learn more about PE Ratio without NRI →
What does a PE Ratio without NRI of 35.31 mean?
Zen Group PCL (BKK:ZEN) has a PE Ratio without NRI of 35.31 as of Jul. 16, 2026. P/E without nonrecurring items is the ratio of share price to a company's earnings less one-time charges. View historical data on Zen Group PCL and its competitors. This is 13% above median its historical median of 31.29. Over the past decade, Zen Group PCL's PE Ratio without NRI has ranged from 13.38 to 1,026.67. According to the industry distribution chart, Zen Group PCL ranks #189 out of 243 companies in the Restaurants industry, placing it in the top 77.8%.
Is Zen Group PCL's PE Ratio without NRI too high?
Zen Group PCL's current PE Ratio without NRI of 35.31 is 13% above median its 10-year median of 31.29. Over the past 10 years, this metric has ranged from a low of 13.38 to a high of 1,026.67. The Restaurants industry median PE Ratio without NRI is 20.13. Zen Group PCL's value of 35.31 is 75.4% above this industry median. Based on the distribution chart, Zen Group PCL ranks #189 out of 243 companies in the Restaurants industry, which is in the bottom quartile relative to peers. Overall, Zen Group PCL has a GF Score™ of 87/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Zen Group PCL's PE Ratio without NRI compare to MCD and SBUX?
According to the Restaurants industry distribution chart, Zen Group PCL ranks #189 out of 243 companies for PE Ratio without NRI. This places Zen Group PCL in the lower half of its industry. The industry median PE Ratio without NRI is 20.13. Zen Group PCL's value of 35.31 is 75.4% above this benchmark. Historically, Zen Group PCL's own PE Ratio without NRI has ranged from 13.38 to 1,026.67 over the past decade. While the company's 10-year median is 31.29 vs. the industry median of 20.13, Zen Group PCL has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PE Ratio without NRI for a Restaurants company?
The median PE Ratio without NRI among Restaurants companies is 20.13, based on 243 companies in the industry. Companies in the top quartile (top 25%) have a PE Ratio without NRI significantly above this median, while those in the bottom quartile fall well below. However, PE Ratio without NRI should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Zen Group PCL's current PE Ratio without NRI of 35.31 is 75.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PE Ratio without NRI mean?
A high PE Ratio without NRI can signal that a stock is expensive relative to its fundamentals. P/E without nonrecurring items is the ratio of share price to a company's earnings less one-time charges. View historical data on Zen Group PCL and its competitors. For the Restaurants industry, the median PE Ratio without NRI is 20.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zen Group PCL's current PE Ratio without NRI is 35.31, which is 13% above median its own 10-year median of 31.29. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zen Group PCL stock overvalued right now?
Based on GuruFocus' analysis, Zen Group PCL (BKK:ZEN) is currently considered Modestly Undervalued. The stock's GF Value™ is ฿6.68, compared to a current price of ฿5.65 — trading 15.4% below its estimated fair value. The current PE Ratio without NRI is 35.31, which is 13% above median its 10-year median of 31.29 and 75.4% above the Restaurants industry median of 20.13. Zen Group PCL's overall GF Score™ is 87/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PE Ratio without NRI calculated?
PE Ratio without NRI is calculated from a company's financial statements. For Zen Group PCL (BKK:ZEN), the current PE Ratio without NRI is 35.31 as of Jul. 16, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Zen Group PCL (BKK:ZEN) Overvalued in 2026?

Based on GuruFocus' analysis, Zen Group PCL stock appears to be undervalued. The current stock price of ฿5.65 is trading 15.4% below its estimated GF Value™ of ฿6.68. GuruFocus considers Zen Group PCL to be Modestly Undervalued.

Key valuation signals for BKK:ZEN:

  • PE Ratio without NRI: 35.31 (13% above median its 10-year median of 31.29)
  • GF Value™: ฿6.68 vs. price of ฿5.65 (15.4% below fair value)
  • GF Score™: 87/100 with 5 warning signs
  • Industry Position: 75.4% above the Restaurants median (#189 of 243)

No single metric tells the full story. See the BKK:ZEN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Zen Group PCL Business Description

Address 662 Soi On Nut 17, Kwang Suanluang, Khet Suanluang, Bangkok, THA, 10250
Zen Corp Group PCL is engaged in providing management services to its subsidiaries and restaurants. It offers Japanese food, ranging from premium sushi and Yakiniku restaurants to contemporary Japanese cafes. The company operates ZEN Japanese Restaurant, Musha, AKA, On the Table, and Sushi Cyu. The company operates in only one segment which is the Food business. The majority of the revenue is generated from the sales of food and beverages in Thailand.
87GF Score

Get the complete analysis for BKK:ZEN

PE Ratio without NRI is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

฿5.65
Price
฿6.68
GF Value