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Thai (SET) Market Analysis & Valuation
UpdatedNov 30, 2024
DataAggregated Company Financials
Companies900
- 7D-1.3%
- 3M4.9%
- 1Y3.1%
- YTD-1.0%
Over the last 7 days, the market has dropped 1.3%, driven by a pullback of 3.9% in the Energy sector. As for the longer term, the market has actually risen by 3.1% in the last year. Looking forward, earnings are forecast to grow by 17% annually.
Market Valuation and Performance
Has the Thai Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 30 Nov 2024 | ฿17.9t | ฿17.7t | ฿922.1b | 14.8x | 19.4x | 1x |
| Mon, 28 Oct 2024 | ฿18.3t | ฿17.7t | ฿1.0t | 15x | 18.1x | 1x |
| Wed, 25 Sep 2024 | ฿18.3t | ฿17.7t | ฿1.0t | 15.6x | 18.2x | 1x |
| Fri, 23 Aug 2024 | ฿16.8t | ฿17.7t | ฿997.7b | 14.3x | 16.8x | 1x |
| Sun, 21 Jul 2024 | ฿16.5t | ฿17.4t | ฿972.1b | 14.8x | 17x | 0.9x |
| Tue, 18 Jun 2024 | ฿16.3t | ฿17.4t | ฿972.9b | 15x | 16.7x | 0.9x |
| Thu, 16 May 2024 | ฿17.2t | ฿17.4t | ฿982.4b | 16.3x | 17.5x | 1x |
| Sat, 13 Apr 2024 | ฿17.5t | ฿17.2t | ฿970.0b | 16.3x | 18.1x | 1x |
| Mon, 11 Mar 2024 | ฿17.3t | ฿17.2t | ฿965.9b | 16.5x | 18x | 1x |
| Wed, 07 Feb 2024 | ฿17.4t | ฿17.1t | ฿951.9b | 16.5x | 18.3x | 1x |
| Fri, 05 Jan 2024 | ฿17.9t | ฿17.1t | ฿930.0b | 17x | 19.3x | 1x |
| Sun, 03 Dec 2023 | ฿17.2t | ฿17.1t | ฿930.1b | 15.6x | 18.5x | 1x |
| Tue, 31 Oct 2023 | ฿17.4t | ฿17.4t | ฿873.9b | 16.2x | 19.9x | 1x |
| Thu, 28 Sep 2023 | ฿18.6t | ฿17.4t | ฿873.3b | 17.4x | 21.3x | 1.1x |
| Sat, 26 Aug 2023 | ฿19.3t | ฿17.3t | ฿868.0b | 17.8x | 22.3x | 1.1x |
| Mon, 24 Jul 2023 | ฿18.9t | ฿17.7t | ฿1.0t | 16.5x | 18.8x | 1.1x |
| Wed, 21 Jun 2023 | ฿19.0t | ฿17.7t | ฿1.0t | 17x | 18.9x | 1.1x |
| Fri, 19 May 2023 | ฿18.9t | ฿17.8t | ฿1.0t | 16.8x | 18.4x | 1.1x |
| Sun, 16 Apr 2023 | ฿19.7t | ฿17.6t | ฿994.3b | 17.3x | 19.8x | 1.1x |
| Tue, 14 Mar 2023 | ฿19.4t | ฿17.6t | ฿1.0t | 17x | 19.3x | 1.1x |
| Thu, 09 Feb 2023 | ฿20.8t | ฿17.1t | ฿1.1t | 18.1x | 19.2x | 1.2x |
| Sat, 07 Jan 2023 | ฿20.6t | ฿17.1t | ฿1.1t | 17.7x | 18.8x | 1.2x |
| Mon, 05 Dec 2022 | ฿20.2t | ฿17.1t | ฿1.1t | 17.6x | 18.3x | 1.2x |
| Wed, 02 Nov 2022 | ฿19.9t | ฿15.8t | ฿1.1t | 17.3x | 18.2x | 1.3x |
| Fri, 30 Sep 2022 | ฿19.4t | ฿18.3t | ฿1.5t | 17x | 13x | 1.1x |
| Sun, 28 Aug 2022 | ฿20.0t | ฿15.7t | ฿1.1t | 17.6x | 18.8x | 1.3x |
| Tue, 26 Jul 2022 | ฿18.9t | ฿14.3t | ฿987.3b | 17.4x | 19.2x | 1.3x |
| Thu, 23 Jun 2022 | ฿18.7t | ฿14.2t | ฿977.0b | 17.5x | 19.2x | 1.3x |
| Sat, 21 May 2022 | ฿19.4t | ฿14.4t | ฿1.0t | 18.1x | 19x | 1.3x |
| Mon, 18 Apr 2022 | ฿19.9t | ฿13.1t | ฿990.6b | 19x | 20.1x | 1.5x |
| Wed, 16 Mar 2022 | ฿19.5t | ฿13.1t | ฿989.5b | 18.5x | 19.7x | 1.5x |
| Fri, 11 Feb 2022 | ฿20.2t | ฿12.2t | ฿931.7b | 19.5x | 21.7x | 1.7x |
| Sun, 09 Jan 2022 | ฿19.6t | ฿12.1t | ฿910.8b | 19.9x | 21.5x | 1.6x |
| Tue, 07 Dec 2021 | ฿18.6t | ฿12.1t | ฿910.0b | 18.9x | 20.5x | 1.5x |
Price to Earnings Ratio
20.5x
Current Market PE
- Investors are relatively neutral on the Thai market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
- The market is trading close to its 3-year average PE ratio of 18.9x.
Past Earnings Growth
- The earnings for Thai listed companies have remained mostly flat over the last three years.
- Meanwhile revenues have grown 14% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.
Sector Trends
Which sectors have driven the changes within the Thai Market?
| TH Market | -1.30% | |
| Tech | 2.23% | |
| Information Technology | 0% | |
| Financials | 0% | |
| Health Care | 0% | |
| Industrials | 0% | |
| Financials | -0.33% | |
| Industrials | -0.74% | |
| Consumer Staples | -0.82% | |
| Healthcare | -1.30% | |
| Consumer Discretionary | -1.67% | |
| Real Estate | -2.03% | |
| Telecom | -2.31% | |
| Utilities | -2.99% | |
| Materials | -3.48% | |
| Energy | -3.85% | |
Sector PE
- Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 49.4x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 14.4%, which is higher than its past year's earnings growth of 6.2% per year.
Forecasted Growth
- Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 62% over the next 5 years.
- This is better than its past earnings growth rate of 15% per year.
- In contrast, the Energy sector is expected to see its earnings grow by 3.1% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| DELTA Delta Electronics (Thailand) | ฿150.50 | 3.1% +฿56.1b | 94.2% | PE87.3x | Tech | |
| BTS BTS Group Holdings | ฿5.55 | 11.4% +฿7.5b | -21.8% | PS4.4x | Industrials | |
| CPAXT CP Axtra | ฿34.75 | 1.5% +฿5.2b | 31.1% | PE36.6x | Consumer Staples | |
| MONO Mono Next | ฿2.72 | 52.0% +฿3.2b | 227.7% | PS4.9x | Telecom | |
| STGT Sri Trang Gloves (Thailand) | ฿10.90 | 10.1% +฿2.9b | 75.8% | PE78.8x | Healthcare |
