Header cover image

Thai (SET) Market Analysis & Valuation

UpdatedMar 18, 2024
DataAggregated Company Financials
Companies879
  • 7D0.04%
  • 3M-0.4%
  • 1Y-11.5%
  • YTD-3.2%

Over the last 7 days, the market has remained flat, although notably the Information Technology sector declined by 4.4%. Unfortunately though, the market is down 11% over the past year. As for the next few years, earnings are expected to grow by 15% per annum.

Market Valuation and Performance

Has the Thai Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 19 Mar 2024฿17.3t฿17.2t฿966.3b16.7x18x1x
Thu, 15 Feb 2024฿17.3t฿17.1t฿963.7b16.4x18x1x
Sat, 13 Jan 2024฿17.6t฿17.1t฿929.8b16.6x18.9x1x
Mon, 11 Dec 2023฿17.2t฿17.1t฿931.6b15.9x18.5x1x
Wed, 08 Nov 2023฿17.5t฿17.3t฿880.4b16.3x19.9x1x
Fri, 06 Oct 2023฿18.2t฿17.4t฿875.1b17.1x20.8x1.1x
Sun, 03 Sep 2023฿19.3t฿17.3t฿869.2b18.3x22.3x1.1x
Tue, 01 Aug 2023฿19.3t฿17.7t฿1.0t16.6x19.2x1.1x
Thu, 29 Jun 2023฿18.3t฿17.7t฿1.0t15.9x18.2x1x
Sat, 27 May 2023฿18.9t฿17.7t฿1.0t16.9x18.9x1.1x
Mon, 24 Apr 2023฿19.3t฿17.6t฿1.0t16.7x19.2x1.1x
Wed, 22 Mar 2023฿18.9t฿17.3t฿969.7b17.8x19.5x1.1x
Fri, 17 Feb 2023฿20.5t฿17.1t฿1.1t18x19.1x1.2x
Sun, 15 Jan 2023฿20.8t฿17.1t฿1.1t18.1x18.9x1.2x
Tue, 13 Dec 2022฿20.0t฿17.1t฿1.1t17.4x18x1.2x
Thu, 10 Nov 2022฿19.9t฿16.2t฿1.1t17x18.7x1.2x
Sat, 08 Oct 2022฿19.3t฿15.7t฿1.1t16.9x18.1x1.2x
Mon, 05 Sep 2022฿19.7t฿15.7t฿1.1t17.4x18.5x1.3x
Wed, 03 Aug 2022฿19.3t฿14.3t฿981.3b17.5x19.6x1.3x
Fri, 01 Jul 2022฿18.8t฿14.2t฿976.9b17.5x19.3x1.3x
Sun, 29 May 2022฿19.6t฿14.1t฿974.9b18.2x20.2x1.4x
Tue, 26 Apr 2022฿19.9t฿13.1t฿988.6b19.3x20.1x1.5x
Thu, 24 Mar 2022฿19.9t฿13.1t฿990.6b19x20.1x1.5x
Sat, 19 Feb 2022฿20.3t฿12.8t฿938.2b19.6x21.6x1.6x
Mon, 17 Jan 2022฿19.8t฿12.1t฿910.6b20.2x21.8x1.6x
Wed, 15 Dec 2021฿19.2t฿12.1t฿909.6b19.6x21.1x1.6x
Fri, 12 Nov 2021฿19.2t฿11.9t฿912.1b19.7x21x1.6x
Sun, 10 Oct 2021฿18.9t฿11.6t฿884.3b19.8x21.4x1.6x
Tue, 07 Sep 2021฿18.8t฿11.5t฿880.4b19.1x21.3x1.6x
Thu, 05 Aug 2021฿17.5t฿11.6t฿882.1b18.7x19.8x1.5x
Sun, 09 May 2021฿17.9t฿10.8t฿729.1b19.4x24.6x1.7x
Price to Earnings Ratio

24.6x


Total Market Cap: ฿17.9tTotal Earnings: ฿727.0bTotal Revenue: ฿10.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Thai Market Price to Earnings3Y Average 20x202220232024
Current Market PE
  • Investors are pessimistic on the Thai market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 18.0x which is lower than its 3-year average PE of 20.0x.
Past Earnings Growth
  • The earnings for Thai listed companies have grown 9.9% per year over the last three years.
  • Revenues for these companies have grown 17% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the Thai Market?

TH Market0.041%
Materials2.59%
Energy1.79%
Industrials0.64%
Consumer Discretionary0.63%
Utilities0.33%
Telecom0.28%
Healthcare0.24%
Financials-0.19%
Real Estate-0.46%
Consumer Staples-1.19%
Tech-4.41%
Sector PE
  • Investors favour the Industrials sector the most for future growth even though it's trading below its 3-year average PE ratio of 81.8x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 29.5% which is higher than its past year's earnings decline of 0.7% per year.
  • The Energy sector is the least preferred by investors for future growth, which is trading below its 3-year average of 10.0x.
Forecasted Growth
  • Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 30% over the next 5 years.
  • This is better than its past earnings growth rate of 6.4% per year.
  • In contrast, the Energy industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
PTTEP PTT Exploration and Production฿154.003.4%
+฿19.8b
13.2%PE7.9xEnergy
TRUE True Corporation฿8.006.0%
+฿15.5b
0%PS1.4xTelecom
PTT PTT฿34.251.5%
+฿14.3b
14.2%PE8.7xEnergy
CRC Central Retail Corporation฿37.254.2%
+฿9.0b
-14.9%PE28xConsumer Discretionary
AOT Airports of Thailand฿66.000.8%
+฿7.1b
-5.7%PE72.5xIndustrials
See more
Simply Wall Street Pty Ltd (ACN 600 056 611), is a Corporate Authorised Representative (Authorised Representative Number: 467183) of Sanlam Private Wealth Pty Ltd (AFSL No. 337927). Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation or needs. You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice. Please read our Financial Services Guide before deciding whether to obtain financial services from us.

Market Insights

When we checked in on commodity markets in November there was a lot of red on the YTD returns table. Since then, the gold price has hit a new record and crude is back above $80...

Latest News

PTT

฿34.25

PTT

7D

1.5%

1Y

14.2%

TOP

฿59.00

Thai Oil

7D

4.4%

1Y

19.8%

ADVANC

฿209.00

Advanced Info Service

7D

-0.9%

1Y

0%

TFMAMA

฿212.00

Thai President Foods

7D

-6.2%

1Y

7.1%

TRUE

฿8.00

True Corporation

7D

6.0%

1Y

0%

DELTA

฿68.25

Delta Electronics (Thailand)

7D

-0.7%

1Y

-30.4%

PTTEP

฿154.00

PTT Exploration and Production

7D

3.4%

1Y

13.2%

KTB

฿16.20

Krung Thai Bank

7D

2.5%

1Y

-2.4%

CRC

฿37.25

Central Retail Corporation

7D

4.2%

1Y

-14.9%

CPALL

฿56.25

CP ALL

7D

-0.9%

1Y

-8.9%

BDMS

฿29.00

Bangkok Dusit Medical Services

7D

-0.9%

1Y

2.7%

JTS

฿68.25

Jasmine Technology Solution

7D

-13.6%

1Y

66.5%

GPSC

฿54.75

Global Power Synergy

7D

-2.2%

1Y

-18.0%

CPAXT

฿32.75

CP Axtra

7D

-2.2%

1Y

-13.2%

AOT

฿66.00

Airports of Thailand

7D

0.8%

1Y

-5.7%