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Thai (SET) Financials Sector Analysis

UpdatedFeb 27, 2024
DataAggregated Company Financials
Companies76
  • 7D2.4%
  • 3M-2.1%
  • 1Y-12.3%
  • YTD-3.0%

In the last week, the Financials industry is up 2.4%, with SCB X up 8.7%. In the past year, the industry is down 13%. Looking forward, earnings are forecast to grow by 7.1% annually.

Sector Valuation and Performance

Has the Thai Financials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 28 Feb 2024฿2.7t฿2.3t฿481.9b12.7x5.6x1.2x
Fri, 26 Jan 2024฿2.6t฿1.1t฿290.9b12x8.8x2.2x
Sun, 24 Dec 2023฿2.7t฿1.1t฿282.0b12.5x9.5x2.4x
Tue, 21 Nov 2023฿2.7t฿1.1t฿282.0b12.2x9.5x2.4x
Thu, 19 Oct 2023฿2.8t฿1.1t฿277.0b13x10.1x2.5x
Sat, 16 Sep 2023฿3.0t฿1.1t฿277.0b13.8x10.7x2.7x
Mon, 14 Aug 2023฿2.9t฿1.1t฿279.6b13.2x10.5x2.7x
Wed, 12 Jul 2023฿2.8t฿1.1t฿270.0b12.8x10.5x2.6x
Fri, 09 Jun 2023฿3.0t฿1.1t฿270.5b13.4x11.1x2.8x
Sun, 07 May 2023฿2.8t฿1.1t฿240.2b12.4x11.8x2.6x
Tue, 04 Apr 2023฿2.9t฿1.1t฿233.3b13.3x12.3x2.7x
Thu, 02 Mar 2023฿3.0t฿1.0t฿226.9b14x13x2.8x
Sat, 28 Jan 2023฿3.1t฿1.0t฿225.2b13.5x13.8x3x
Mon, 26 Dec 2022฿3.0t฿1.0t฿235.0b13.1x12.9x2.9x
Wed, 23 Nov 2022฿3.0t฿1.0t฿234.5b13.1x12.7x2.9x
Fri, 21 Oct 2022฿3.0t฿1.0t฿211.7b12.8x14.2x3x
Sun, 18 Sep 2022฿3.1t฿1.0t฿210.6b14.1x14.7x3.1x
Tue, 16 Aug 2022฿3.0t฿996.6b฿212.2b12.7x14.3x3.1x
Thu, 14 Jul 2022฿2.7t฿889.3b฿203.9b11.9x13.3x3x
Sat, 11 Jun 2022฿2.9t฿889.3b฿204.0b13.1x14.3x3.3x
Mon, 09 May 2022฿2.9t฿887.2b฿236.0b13.5x12.2x3.2x
Wed, 06 Apr 2022฿3.0t฿877.3b฿229.1b13.8x13.1x3.4x
Fri, 04 Mar 2022฿3.0t฿884.5b฿229.0b14x13.2x3.4x
Sun, 30 Jan 2022฿3.0t฿914.6b฿231.9b14.4x12.9x3.3x
Tue, 28 Dec 2021฿2.9t฿900.0b฿221.4b15.1x13x3.2x
Thu, 25 Nov 2021฿2.9t฿900.0b฿221.4b14.3x13x3.2x
Sat, 23 Oct 2021฿2.8t฿902.9b฿216.3b12.7x12.9x3.1x
Mon, 20 Sep 2021฿2.7t฿900.4b฿215.4b12.4x12.3x2.9x
Wed, 18 Aug 2021฿2.4t฿888.5b฿212.1b11.8x11.5x2.7x
Wed, 02 Jun 2021฿2.7t฿855.0b฿189.9b13.2x14x3.1x
Sat, 06 Mar 2021฿2.5t฿849.3b฿185.2b13.4x13.5x2.9x
Price to Earnings Ratio

13.5x


Total Market Cap: ฿2.5tTotal Earnings: ฿185.2bTotal Revenue: ฿849.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Thai Financials Sector Price to Earnings3Y Average 12.3x202220232024
Current Industry PE
  • Investors are pessimistic on the Thai Financials industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 9.2x which is lower than its 3-year average PE of 12.4x.
  • The 3-year average PS ratio of 2.9x is higher than the industry's current PS ratio of 2.4x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 17% per year over the last three years.
  • Revenues for these companies have grown 10% 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 Market0.79%
Financials2.40%
Banks3.14%
Consumer Finance1.23%
Insurance0.75%
Capital Markets0.59%
Mortgage Finance0%
Mortgage REITs0%
Diversified Financial-0.30%
Industry PE
  • Investors are most optimistic about the Capital Markets industry which is trading above its 3-year average PE ratio of 21.5x.
    • Analysts are expecting annual earnings growth of 10.5%, which is higher than its past year's earnings decline of 31.2% per year.
  • Investors are most pessimistic about the Banks industry, which is trading below its 3-year average of 9.3x.
Forecasted Growth
  • Analysts are most optimistic on the Insurance industry, expecting annual earnings growth of 15% over the next 5 years.
  • This is better than its past earnings decline of 11% per year.
  • In contrast, the Diversified Financial industry is expected to see its earnings decline by 16% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
SCB SCB X฿113.509.1%
+฿32.0b
9.1%PB0.8x
MTC Muangthai Capital฿46.256.3%
+฿5.8b
32.1%PE20x
KBANK Kasikornbank฿123.001.2%
+฿3.6b
-10.2%PB0.5x
TIDLOR Ngern Tid Lor฿23.304.0%
+฿2.5b
4.9%PE17.7x
TLI Thai Life Insurance฿8.601.8%
+฿1.7b
-36.8%PE11x
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XPG

฿1.27

XSpring Capital

7D

13.4%

1Y

0.8%

MST

฿10.50

Maybank Securities (Thailand)

7D

-0.9%

1Y

-11.0%

KKP

฿50.75

Kiatnakin Phatra Bank

7D

4.1%

1Y

-24.0%

TQR

฿7.00

TQR

7D

-2.8%

1Y

-39.1%

CREDIT

฿28.50

Thai Credit Bank

7D

-0.9%

1Y

n/a

TTB

฿1.87

TMBThanachart Bank

7D

-0.5%

1Y

33.6%

SCB

฿113.50

SCB X

7D

9.1%

1Y

9.1%

MTC

฿46.25

Muangthai Capital

7D

6.3%

1Y

32.1%

JMT

฿23.00

JMT Network Services

7D

3.1%

1Y

-50.5%

KBANK

฿123.00

Kasikornbank

7D

1.2%

1Y

-10.2%

TIDLOR

฿23.30

Ngern Tid Lor

7D

4.0%

1Y

4.9%

SABUY

฿4.90

SABUY Technology

7D

-1.2%

1Y

-59.5%

TQM

฿26.75

TQM Alpha

7D

-1.8%

1Y

-30.5%

TLI

฿8.60

Thai Life Insurance

7D

1.8%

1Y

-36.8%

CHASE

฿1.80

Chase Asia

7D

-4.8%

1Y

-33.3%

TK

฿5.45

Thitikorn

7D

-1.8%

1Y

-32.3%