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Thai (SET) Energy Sector Analysis
UpdatedDec 05, 2025
DataAggregated Company Financials
Companies28
- 7D3.1%
- 3M-1.2%
- 1Y-8.6%
- YTD-5.7%
Over the last 7 days, the Energy industry has risen 3.1%, driven by gains from PTT of 4.1%. Meanwhile, Bangchak Sriracha actually underperformed within the industry, shrinking 32% in the last week. However, the industry is down 8.6% over the past year. Looking forward, earnings are forecast to grow by 12% annually.
Sector Valuation and Performance
Has the Thai Energy Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 05 Dec 2025 | ฿1.6t | ฿4.8t | ฿145.8b | 10.1x | 11x | 0.3x |
| Sun, 02 Nov 2025 | ฿1.6t | ฿5.2t | ฿118.9b | 9.7x | 13.3x | 0.3x |
| Tue, 30 Sep 2025 | ฿1.7t | ฿5.2t | ฿122.5b | 10.2x | 14x | 0.3x |
| Thu, 28 Aug 2025 | ฿1.6t | ฿5.2t | ฿122.9b | 9.7x | 13.2x | 0.3x |
| Sat, 26 Jul 2025 | ฿1.7t | ฿5.5t | ฿156.4b | 9.7x | 10.6x | 0.3x |
| Mon, 23 Jun 2025 | ฿1.5t | ฿5.5t | ฿157.3b | 8.7x | 9.8x | 0.3x |
| Wed, 21 May 2025 | ฿1.5t | ฿5.5t | ฿157.9b | 10x | 9.8x | 0.3x |
| Fri, 18 Apr 2025 | ฿1.5t | ฿5.6t | ฿177.3b | 9.1x | 8.7x | 0.3x |
| Sun, 16 Mar 2025 | ฿1.5t | ฿5.6t | ฿178.0b | 9.2x | 8.7x | 0.3x |
| Tue, 11 Feb 2025 | ฿1.6t | ฿5.7t | ฿204.7b | 7.5x | 8x | 0.3x |
| Thu, 09 Jan 2025 | ฿1.7t | ฿5.7t | ฿205.7b | 8.7x | 8.3x | 0.3x |
| Sat, 07 Dec 2024 | ฿1.8t | ฿5.7t | ฿204.0b | 9.3x | 8.7x | 0.3x |
| Mon, 04 Nov 2024 | ฿1.8t | ฿5.7t | ฿269.6b | 9.1x | 6.8x | 0.3x |
| Wed, 02 Oct 2024 | ฿1.9t | ฿5.7t | ฿266.2b | 8.8x | 7.1x | 0.3x |
| Fri, 30 Aug 2024 | ฿1.9t | ฿5.7t | ฿267.1b | 9x | 7.1x | 0.3x |
| Sun, 28 Jul 2024 | ฿1.9t | ฿5.6t | ฿242.2b | 9.2x | 7.7x | 0.3x |
| Tue, 25 Jun 2024 | ฿1.9t | ฿5.6t | ฿244.0b | 9.4x | 7.9x | 0.3x |
| Thu, 23 May 2024 | ฿2.0t | ฿5.6t | ฿243.4b | 9.7x | 8.1x | 0.4x |
| Sat, 20 Apr 2024 | ฿2.0t | ฿5.5t | ฿242.0b | 14.1x | 8.4x | 0.4x |
| Mon, 18 Mar 2024 | ฿2.0t | ฿5.5t | ฿239.8b | 14.3x | 8.5x | 0.4x |
| Wed, 14 Feb 2024 | ฿2.0t | ฿5.4t | ฿217.9b | 11.3x | 9.3x | 0.4x |
| Fri, 12 Jan 2024 | ฿2.0t | ฿5.4t | ฿212.8b | 11.3x | 9.5x | 0.4x |
| Sun, 10 Dec 2023 | ฿2.0t | ฿5.4t | ฿214.1b | 10.4x | 9.3x | 0.4x |
| Tue, 07 Nov 2023 | ฿2.0t | ฿5.6t | ฿165.3b | 10.4x | 12.2x | 0.4x |
| Thu, 05 Oct 2023 | ฿2.0t | ฿5.6t | ฿174.6b | 10.1x | 11.7x | 0.4x |
| Sat, 02 Sep 2023 | ฿2.1t | ฿5.6t | ฿169.1b | 10.8x | 12.3x | 0.4x |
| Mon, 31 Jul 2023 | ฿2.1t | ฿5.9t | ฿256.2b | 9.9x | 8.1x | 0.3x |
| Wed, 28 Jun 2023 | ฿1.9t | ฿5.9t | ฿259.5b | 9.5x | 7.2x | 0.3x |
| Fri, 26 May 2023 | ฿1.9t | ฿5.9t | ฿257.2b | 10.2x | 7.4x | 0.3x |
| Sun, 23 Apr 2023 | ฿1.9t | ฿5.9t | ฿265.8b | 11.6x | 7.3x | 0.3x |
| Tue, 21 Mar 2023 | ฿1.8t | ฿5.9t | ฿264.5b | 10.6x | 7x | 0.3x |
| Thu, 16 Feb 2023 | ฿2.1t | ฿5.6t | ฿286.4b | 10.4x | 7.2x | 0.4x |
| Sat, 14 Jan 2023 | ฿2.1t | ฿5.6t | ฿291.4b | 11.3x | 7.4x | 0.4x |
| Mon, 12 Dec 2022 | ฿2.1t | ฿5.7t | ฿296.6b | 10.6x | 7.1x | 0.4x |
Price to Earnings Ratio
7.1x
Current Industry PE
- Investors are optimistic on the Thai Energy industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 11.0x which is higher than its 3-year average PE of 9.0x.
- The industry is trading close to its 3-year average PS ratio of 0.33x.
Past Earnings Growth
- The earnings for companies in the Energy industry have declined 21% per year over the last three years,
- Revenues have also declined 5.2% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Trends
Which industries have driven the changes within the Thai Energy sector?
| TH Market | 1.67% | |
| Energy | 3.10% | |
| Energy Services | 3.68% | |
| Oil and Gas | 3.10% | |
Industry PE
- Investors are most optimistic about the Oil and Gas industry which is trading above its 3-year average PE ratio of 9.0x.
- Analysts are expecting annual earnings growth of 12.2%, which is higher than its past year's earnings decline of 5.1% per year.
Forecasted Growth
- Analysts are most optimistic on the Oil and Gas industry, expecting annual earnings growth of 12% over the next 5 years.
- This is better than its past earnings decline of 5.1% per year.
- In contrast, the Oil and Gas industry is expected to see its earnings grow by 12% 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 | |
|---|---|---|---|---|---|
| PTT PTT | ฿31.75 | 4.1% +฿35.7b | -1.6% | PE12.3x | |
| BANPU Banpu | ฿4.96 | 14.3% +฿6.2b | -15.9% | PS0.3x | |
| TOP Thai Oil | ฿35.75 | 4.4% +฿3.4b | -7.7% | PE5.4x | |
| PTTEP PTT Exploration and Production | ฿106.00 | 0.5% +฿2.0b | -17.2% | PE7.2x | |
| IRPC IRPC | ฿1.01 | 4.1% +฿816.4m | -27.3% | PS0.07x |