Thai (SET) Market Analysis & Valuation
UpdatedSep 24, 2023
DataAggregated Company Financials
Companies872
- 7D-1.2%
- 3M1.5%
- 1Y-6.7%
- YTD-9.2%
Over the last 7 days, the market has dropped 1.2%, driven by a pullback of 2.4% in the Financials sector. As for last year, the market is also down 6.7%. Earnings are forecast to grow by 20% 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 |
|---|---|---|---|---|---|---|
| Sun, 24 Sep 2023 | ฿19.2t | ฿17.6t | ฿859.5b | 17.7x | 22.4x | 1.1x |
| Tue, 22 Aug 2023 | ฿19.1t | ฿17.5t | ฿855.6b | 17.2x | 22.4x | 1.1x |
| Thu, 20 Jul 2023 | ฿19.4t | ฿17.9t | ฿984.8b | 16.6x | 19.7x | 1.1x |
| Sat, 17 Jun 2023 | ฿19.6t | ฿18.0t | ฿990.2b | 17.3x | 19.8x | 1.1x |
| Mon, 15 May 2023 | ฿19.6t | ฿17.9t | ฿998.5b | 16.5x | 19.7x | 1.1x |
| Wed, 12 Apr 2023 | ฿20.1t | ฿17.8t | ฿981.0b | 17.2x | 20.5x | 1.1x |
| Fri, 10 Mar 2023 | ฿20.3t | ฿17.8t | ฿999.4b | 17.4x | 20.3x | 1.1x |
| Sun, 05 Feb 2023 | ฿20.9t | ฿17.1t | ฿1.1t | 18.4x | 19.2x | 1.2x |
| Tue, 03 Jan 2023 | ฿20.6t | ฿17.1t | ฿1.1t | 17.7x | 18.6x | 1.2x |
| Thu, 01 Dec 2022 | ฿20.1t | ฿17.1t | ฿1.1t | 17.6x | 18.1x | 1.2x |
| Sat, 29 Oct 2022 | ฿19.6t | ฿15.8t | ฿1.1t | 17x | 18x | 1.2x |
| Mon, 26 Sep 2022 | ฿19.9t | ฿15.7t | ฿1.1t | 17.7x | 18.6x | 1.3x |
| Wed, 24 Aug 2022 | ฿19.9t | ฿15.7t | ฿1.1t | 17.5x | 18.6x | 1.3x |
| Fri, 22 Jul 2022 | ฿18.6t | ฿14.1t | ฿972.5b | 17x | 19.1x | 1.3x |
| Sun, 19 Jun 2022 | ฿18.7t | ฿14.2t | ฿976.8b | 17.6x | 19.1x | 1.3x |
| Tue, 17 May 2022 | ฿19.0t | ฿14.4t | ฿1.0t | 18.1x | 18.6x | 1.3x |
| Thu, 14 Apr 2022 | ฿19.9t | ฿13.1t | ฿990.3b | 19x | 20.1x | 1.5x |
| Sat, 12 Mar 2022 | ฿19.6t | ฿13.1t | ฿989.0b | 18.9x | 19.8x | 1.5x |
| Mon, 07 Feb 2022 | ฿19.9t | ฿12.2t | ฿931.2b | 20x | 21.3x | 1.6x |
| Wed, 05 Jan 2022 | ฿19.7t | ฿12.1t | ฿910.6b | 19.9x | 21.7x | 1.6x |
| Fri, 03 Dec 2021 | ฿18.7t | ฿12.1t | ฿909.7b | 18.8x | 20.5x | 1.5x |
| Sun, 31 Oct 2021 | ฿19.0t | ฿11.7t | ฿895.0b | 19.8x | 21.3x | 1.6x |
| Tue, 28 Sep 2021 | ฿18.6t | ฿11.6t | ฿884.0b | 19.5x | 21.1x | 1.6x |
| Thu, 26 Aug 2021 | ฿18.3t | ฿11.6t | ฿882.1b | 19.2x | 20.8x | 1.6x |
| Fri, 02 Jul 2021 | ฿18.1t | ฿11.5t | ฿881.4b | 18.4x | 20.6x | 1.6x |
| Mon, 05 Apr 2021 | ฿17.9t | ฿10.8t | ฿727.0b | 18.9x | 24.6x | 1.7x |
| Thu, 07 Jan 2021 | ฿15.9t | ฿10.3t | ฿564.4b | 16.4x | 28.2x | 1.5x |
| Wed, 30 Sep 2020 | ฿13.2t | ฿10.6t | ฿593.6b | 14.5x | 22.3x | 1.3x |
Price to Earnings Ratio
22.3x
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 21.3x.
Past Earnings Growth
- The earnings for Thai listed companies have grown 13% per year over the last three years.
- Revenues for these companies have grown 18% 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 Market | -1.21% | |
| Telecom | 1.71% | |
| Materials | 0.15% | |
| Healthcare | -0.24% | |
| Tech | -0.44% | |
| Real Estate | -0.84% | |
| Consumer Discretionary | -1.01% | |
| Industrials | -1.46% | |
| Utilities | -1.91% | |
| Financials | -2.35% | |
| Energy | -2.41% | |
| Consumer Staples | -2.41% | |
Sector PE
- Investors favour the Telecom sector the most for future growth, which is trading above its 3-year average PE ratio of 66.5x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 35.8%, which is higher than its past year's earnings growth of 5.7% per year.
- The Financials sector is the least preferred by investors for future growth, which is trading below its 3-year average of 12.5x.
Forecasted Growth
- Analysts are most optimistic on the Industrials sector, expecting annual earnings growth of 38% over the next 5 years.
- This is better than its past earnings decline of 8.3% per year.
- In contrast, the Real Estate sector is expected to see its earnings grow by 8.1% 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 | |
|---|---|---|---|---|---|---|
| ADVANC Advanced Info Service | ฿228.00 | 2.7% +฿17.8b | 18.1% | PE24.8x | Telecom | |
| TRUE True Corporation | ฿7.60 | 3.4% +฿8.6b | -7.3% | PS2x | Telecom | |
| SCGP SCG Packaging | ฿41.00 | 5.1% +฿8.6b | -24.4% | PE35.3x | Materials | |
| INTUCH Intouch Holdings | ฿74.50 | 2.8% +฿6.4b | 4.6% | PE21.5x | Telecom | |
| BH Bumrungrad Hospital | ฿265.00 | 2.7% +฿5.6b | 17.8% | PE33x | Healthcare |
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