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Thai (SET) Market Analysis & Valuation
UpdatedFeb 04, 2025
DataAggregated Company Financials
Companies901
- 7D-2.7%
- 3M-12.1%
- 1Y-6.4%
- YTD-5.6%
Over the last 7 days, the market has dropped 2.7%, driven by a decline of 8.5% in the Information Technology sector. The market has dropped 6.4% 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 |
|---|---|---|---|---|---|---|
| Tue, 04 Feb 2025 | ฿16.4t | ฿17.7t | ฿931.4b | 12.9x | 17.6x | 0.9x |
| Thu, 02 Jan 2025 | ฿17.5t | ฿17.7t | ฿923.1b | 14.1x | 19x | 1x |
| 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 |
Price to Earnings Ratio
21.7x
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 18.8x.
Past Earnings Growth
- The earnings for Thai listed companies have remained mostly flat over the last three years.
- Meanwhile revenues have grown 13% 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 | -2.75% | |
| Energy | 0.81% | |
| Information Technology | 0% | 0 |
| Financials | 0% | 0 |
| Health Care | 0% | 0 |
| Industrials | 0% | 0 |
| Financials | -0.27% | |
| Real Estate | -1.37% | |
| Healthcare | -1.41% | |
| Industrials | -1.72% | |
| Consumer Discretionary | -2.71% | |
| Telecom | -2.84% | |
| Materials | -3.15% | |
| Utilities | -3.69% | |
| Consumer Staples | -4.85% | |
| Tech | -8.48% | |
Sector PE
- Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 49.7x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 13.4%, 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 56% over the next 5 years.
- This is better than its past earnings growth rate of 15% 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?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| PTTEP PTT Exploration and Production | ฿126.00 | 3.7% +฿17.9b | -17.1% | PE6.6x | Energy | |
| TTB TMBThanachart Bank | ฿1.98 | 4.8% +฿8.8b | 5.9% | PB0.8x | Financials | |
| MINT Minor International | ฿24.70 | 6.0% +฿7.9b | -19.0% | PE42.7x | Consumer Discretionary | |
| PTT PTT | ฿31.00 | 0.8% +฿7.1b | -8.8% | PE7.8x | Energy | |
| SCB SCB X | ฿126.00 | 1.6% +฿6.7b | 20.0% | PB0.9x | Financials |
