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Thai (SET) Financials Sector Analysis
UpdatedNov 11, 2025
DataAggregated Company Financials
Companies81
- 7D-0.7%
- 3M2.6%
- 1Y4.7%
- YTD3.3%
In the last week, Financials has been flat. As for the the longer term, the industry is up 4.7% over the past 12 months. As for the next few years, earnings are expected to grow by 2.1% per annum.
Sector Valuation and Performance
Has the Thai Financials Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 12 Nov 2025 | ฿3.0t | ฿1.2t | ฿328.0b | 10.1x | 9x | 2.5x |
| Fri, 10 Oct 2025 | ฿2.9t | ฿1.2t | ฿320.2b | 11.7x | 9x | 2.4x |
| Sun, 07 Sep 2025 | ฿2.9t | ฿1.2t | ฿319.2b | 11x | 8.9x | 2.4x |
| Tue, 05 Aug 2025 | ฿2.7t | ฿1.2t | ฿312.1b | 10.6x | 8.7x | 2.3x |
| Thu, 03 Jul 2025 | ฿2.6t | ฿1.2t | ฿310.5b | 9.5x | 8.5x | 2.2x |
| Sat, 31 May 2025 | ฿2.7t | ฿1.2t | ฿311.3b | 10.6x | 8.7x | 2.3x |
| Mon, 28 Apr 2025 | ฿2.7t | ฿1.2t | ฿314.1b | 10.9x | 8.6x | 2.3x |
| Wed, 26 Mar 2025 | ฿2.9t | ฿1.2t | ฿310.8b | 10.4x | 9.2x | 2.4x |
| Fri, 21 Feb 2025 | ฿3.0t | ฿1.2t | ฿307.6b | 11.6x | 9.7x | 2.5x |
| Sun, 19 Jan 2025 | ฿2.8t | ฿1.2t | ฿299.1b | 11.2x | 9.4x | 2.4x |
| Tue, 17 Dec 2024 | ฿2.9t | ฿1.2t | ฿298.7b | 12x | 9.7x | 2.4x |
| Thu, 14 Nov 2024 | ฿2.8t | ฿1.2t | ฿301.5b | 12.9x | 9.3x | 2.4x |
| Sat, 12 Oct 2024 | ฿2.9t | ฿1.2t | ฿296.9b | 13x | 9.9x | 2.5x |
| Mon, 09 Sep 2024 | ฿2.9t | ฿1.2t | ฿296.9b | 13x | 9.6x | 2.4x |
| Wed, 07 Aug 2024 | ฿2.4t | ฿1.2t | ฿298.4b | 10.3x | 8.2x | 2.1x |
| Fri, 05 Jul 2024 | ฿2.6t | ฿1.2t | ฿297.4b | 11.3x | 8.6x | 2.2x |
| Sun, 02 Jun 2024 | ฿2.7t | ฿1.2t | ฿299.6b | 12x | 9x | 2.3x |
| Tue, 30 Apr 2024 | ฿2.7t | ฿1.2t | ฿299.3b | 13.2x | 9x | 2.3x |
| Thu, 28 Mar 2024 | ฿2.7t | ฿1.1t | ฿292.7b | 13.8x | 9.3x | 2.4x |
| Sat, 24 Feb 2024 | ฿2.7t | ฿1.1t | ฿294.5b | 12.6x | 9.2x | 2.4x |
| Mon, 22 Jan 2024 | ฿2.6t | ฿1.1t | ฿284.8b | 12.3x | 9.1x | 2.3x |
| Wed, 20 Dec 2023 | ฿2.7t | ฿1.1t | ฿282.0b | 12.5x | 9.5x | 2.4x |
| Fri, 17 Nov 2023 | ฿2.7t | ฿1.1t | ฿282.3b | 12.1x | 9.6x | 2.4x |
| Sun, 15 Oct 2023 | ฿2.8t | ฿1.1t | ฿277.0b | 13.1x | 10.2x | 2.6x |
| Tue, 12 Sep 2023 | ฿3.0t | ฿1.1t | ฿277.0b | 13.7x | 10.7x | 2.7x |
| Thu, 10 Aug 2023 | ฿2.9t | ฿1.1t | ฿278.7b | 12.7x | 10.5x | 2.6x |
| Sat, 08 Jul 2023 | ฿2.8t | ฿1.1t | ฿270.0b | 12.8x | 10.5x | 2.6x |
| Mon, 05 Jun 2023 | ฿3.0t | ฿1.1t | ฿270.5b | 13.2x | 11.1x | 2.8x |
| Wed, 03 May 2023 | ฿2.8t | ฿1.1t | ฿240.2b | 12.3x | 11.8x | 2.6x |
| Fri, 31 Mar 2023 | ฿2.9t | ฿1.1t | ฿233.3b | 13.4x | 12.3x | 2.7x |
| Sun, 26 Feb 2023 | ฿3.0t | ฿2.0t | ฿571.9b | 13.4x | 5.2x | 1.5x |
| Tue, 24 Jan 2023 | ฿3.1t | ฿1.0t | ฿222.1b | 13.8x | 13.9x | 3x |
| Thu, 22 Dec 2022 | ฿3.0t | ฿1.0t | ฿235.0b | 13x | 12.8x | 2.9x |
| Sat, 19 Nov 2022 | ฿3.0t | ฿1.0t | ฿235.1b | 12.8x | 12.6x | 2.9x |
Price to Earnings Ratio
12.6x
Current Industry PE
- Investors are relatively neutral on the Thai Financials industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 9.9x.
- The industry is trading close to its 3-year average PS ratio of 2.5x.
Past Earnings Growth
- The earnings for companies in the Financials industry have grown 12% per year over the last three years.
- Revenues for these companies have grown 5.2% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Thai Financials sector?
| TH Market | 0.16% | |
| Financials | -0.74% | |
| Insurance | 0.53% | |
| Capital Markets | 0.38% | |
| Consumer Finance | -0.087% | |
| Banks | -1.00% | |
| Diversified Financial | -4.16% | |
Industry PE
- Investors are most optimistic about the Capital Markets industry which is trading above its 3-year average PE ratio of 36.0x.
- Analysts are expecting annual earnings growth of 17.6%, which is higher than its past year's earnings decline of 20.5% per year.
- Investors are most pessimistic about the Banks industry, which is trading close to its 3-year average of 8.0x.
Forecasted Growth
- Analysts are most optimistic on the Diversified Financial industry, expecting annual earnings growth of 30% over the next 5 years.
- This is better than its past earnings decline of 19% per year.
- In contrast, the Banks 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 | |
|---|---|---|---|---|---|
| BAM Bangkok Commercial Asset Management | ฿7.25 | 9.0% +฿1.9b | 3.6% | PE10.5x | |
| BAY Bank of Ayudhya | ฿24.50 | 0.8% +฿1.5b | -1.6% | PB0.4x | |
| THANI Ratchthani Leasing | ฿1.72 | 10.3% +฿996.7m | -1.1% | PE11.2x | |
| TIDLOR Tidlor Holdings | ฿21.00 | 1.4% +฿868.8m | n/a | PE12.3x | |
| BKIH BKI Holdings | ฿307.00 | 1.0% +฿312.1m | 3.0% | PE10.2x |