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Thai (SET) Market Analysis & Valuation
UpdatedJan 04, 2025
DataAggregated Company Financials
Companies901
- 7D-1.2%
- 3M-4.2%
- 1Y-3.6%
- YTD0.4%
Over the last 7 days, the market has dropped 1.3%, driven by a pullback of 7.5% in the Information Technology sector. In the last 12 months the market is down 4.4%. 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, 04 Jan 2025 | ฿17.3t | ฿17.7t | ฿923.3b | 14.1x | 18.8x | 1x |
| Mon, 02 Dec 2024 | ฿17.9t | ฿17.7t | ฿922.0b | 14.8x | 19.4x | 1x |
| Wed, 30 Oct 2024 | ฿18.2t | ฿17.7t | ฿1.0t | 14.9x | 17.9x | 1x |
| Fri, 27 Sep 2024 | ฿18.2t | ฿17.6t | ฿1.0t | 15.5x | 18.1x | 1x |
| Sun, 25 Aug 2024 | ฿17.0t | ฿17.7t | ฿1.0t | 14.4x | 16.9x | 1x |
| Tue, 23 Jul 2024 | ฿16.5t | ฿17.4t | ฿973.2b | 14.8x | 17x | 0.9x |
| Thu, 20 Jun 2024 | ฿16.4t | ฿17.4t | ฿972.6b | 15x | 16.8x | 0.9x |
| Sat, 18 May 2024 | ฿17.4t | ฿17.4t | ฿977.5b | 16x | 17.8x | 1x |
| Mon, 15 Apr 2024 | ฿17.5t | ฿17.2t | ฿970.6b | 16.3x | 18x | 1x |
| Wed, 13 Mar 2024 | ฿17.3t | ฿17.2t | ฿966.0b | 16.4x | 17.9x | 1x |
| Fri, 09 Feb 2024 | ฿17.3t | ฿17.1t | ฿953.1b | 16.3x | 18.1x | 1x |
| Sun, 07 Jan 2024 | ฿17.8t | ฿17.1t | ฿930.4b | 17x | 19.1x | 1x |
| Tue, 05 Dec 2023 | ฿17.2t | ฿17.1t | ฿930.2b | 15.7x | 18.5x | 1x |
| Thu, 02 Nov 2023 | ฿17.2t | ฿17.4t | ฿876.6b | 16.1x | 19.6x | 1x |
| Sat, 30 Sep 2023 | ฿18.3t | ฿17.4t | ฿873.8b | 17.3x | 20.9x | 1.1x |
| Mon, 28 Aug 2023 | ฿19.3t | ฿17.3t | ฿868.0b | 17.9x | 22.3x | 1.1x |
| Wed, 26 Jul 2023 | ฿18.9t | ฿17.7t | ฿1.0t | 16.3x | 18.8x | 1.1x |
| Fri, 23 Jun 2023 | ฿18.8t | ฿17.7t | ฿1.0t | 16.6x | 18.7x | 1.1x |
| Sun, 21 May 2023 | ฿18.7t | ฿17.7t | ฿1.0t | 16.6x | 18.7x | 1.1x |
| Tue, 18 Apr 2023 | ฿19.8t | ฿17.6t | ฿994.4b | 17.4x | 19.9x | 1.1x |
| Thu, 16 Mar 2023 | ฿19.3t | ฿17.6t | ฿996.5b | 17x | 19.4x | 1.1x |
| Sat, 11 Feb 2023 | ฿20.6t | ฿17.1t | ฿1.1t | 18.1x | 19.1x | 1.2x |
| Mon, 09 Jan 2023 | ฿20.6t | ฿17.1t | ฿1.1t | 17.7x | 18.8x | 1.2x |
| Wed, 07 Dec 2022 | ฿20.0t | ฿17.1t | ฿1.1t | 17.5x | 18.1x | 1.2x |
| Fri, 04 Nov 2022 | ฿20.0t | ฿15.9t | ฿1.1t | 17.3x | 18.2x | 1.3x |
| Sun, 02 Oct 2022 | ฿19.4t | ฿15.7t | ฿1.1t | 16.8x | 18.1x | 1.2x |
| Tue, 30 Aug 2022 | ฿19.8t | ฿15.7t | ฿1.1t | 17.4x | 18.6x | 1.3x |
| Thu, 28 Jul 2022 | ฿19.2t | ฿14.3t | ฿989.6b | 17.3x | 19.4x | 1.3x |
| Sat, 25 Jun 2022 | ฿18.8t | ฿14.2t | ฿977.2b | 17.5x | 19.3x | 1.3x |
| Mon, 23 May 2022 | ฿19.4t | ฿14.1t | ฿1.0t | 18.1x | 19.4x | 1.4x |
| Wed, 20 Apr 2022 | ฿19.9t | ฿13.1t | ฿983.6b | 19.5x | 20.2x | 1.5x |
| Fri, 18 Mar 2022 | ฿19.9t | ฿13.1t | ฿990.4b | 18.8x | 20.1x | 1.5x |
| Sun, 13 Feb 2022 | ฿20.1t | ฿12.2t | ฿930.4b | 19.5x | 21.6x | 1.6x |
| Tue, 11 Jan 2022 | ฿19.6t | ฿12.1t | ฿910.6b | 19.9x | 21.6x | 1.6x |
Price to Earnings Ratio
21.6x
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 | -1.19% | |
| Energy | 1.29% | |
| Healthcare | 0.83% | |
| Financials | 0.18% | |
| Information Technology | 0% | |
| Financials | 0% | |
| Health Care | 0% | |
| Industrials | 0% | |
| Telecom | -0.0036% | |
| Industrials | -0.42% | |
| Consumer Staples | -0.54% | |
| Materials | -0.54% | |
| Real Estate | -1.39% | |
| Consumer Discretionary | -3.05% | |
| Utilities | -3.34% | |
| Tech | -5.38% | |
Sector PE
- Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 49.6x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 15.3%, 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 63% 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 2.8% 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 | |
|---|---|---|---|---|---|---|
| PTTEP PTT Exploration and Production | ฿124.00 | 4.6% +฿21.8b | -17.9% | PE6.5x | Energy | |
| TRUE True Corporation | ฿11.60 | 5.5% +฿20.7b | 123.1% | PS1.7x | Telecom | |
| PTT PTT | ฿32.00 | 0.8% +฿7.1b | -9.2% | PE8.1x | Energy | |
| KTB Krung Thai Bank | ฿21.50 | 1.9% +฿5.6b | 15.0% | PB0.7x | Financials | |
| PTTGC PTT Global Chemical | ฿25.50 | 4.9% +฿5.4b | -31.5% | PS0.2x | Materials |
