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Thai (SET) Capital Markets Industry Analysis

UpdatedJun 17, 2025
DataAggregated Company Financials
Companies19
  • 7D-0.6%
  • 3M-4.1%
  • 1Y-14.1%
  • YTD-7.1%

The Capital Markets industry has been flat over the last week, but Beyond Securities has lost 18%. Unfortunately though, the industry is down 14% over the past 12 months. Looking forward, earnings are forecast to grow by 38% annually.

Industry Valuation and Performance

Has the Thai Capital Markets Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 17 Jun 2025฿124.1b฿22.2b฿2.8b13.4x44.1x5.6x
Thu, 15 May 2025฿125.5b฿22.3b฿3.2b12.9x39.4x5.6x
Sat, 12 Apr 2025฿124.8b฿22.4b฿3.3b12.5x38x5.6x
Mon, 10 Mar 2025฿125.3b฿22.4b฿3.3b13.6x38.2x5.6x
Wed, 05 Feb 2025฿127.1b฿21.9b฿2.0b15.3x63.7x5.8x
Fri, 03 Jan 2025฿130.3b฿21.7b฿1.9b15.9x68.1x6x
Sun, 01 Dec 2024฿130.4b฿21.7b฿1.9b16x68.2x6x
Tue, 29 Oct 2024฿133.4b฿21.4b฿2.7b18.1x49.1x6.2x
Thu, 26 Sep 2024฿168.2b฿24.4b฿4.4b17.8x37.9x6.9x
Sat, 24 Aug 2024฿157.9b฿24.2b฿4.2b15.2x37.5x6.5x
Mon, 22 Jul 2024฿156.4b฿24.0b฿4.5b13.7x34.7x6.5x
Wed, 19 Jun 2024฿163.4b฿24.0b฿4.5b14.6x36.3x6.8x
Fri, 17 May 2024฿159.9b฿23.1b฿4.6b16.3x34.7x6.9x
Sun, 14 Apr 2024฿163.6b฿23.1b฿4.5b15.8x36.4x7.1x
Tue, 12 Mar 2024฿160.7b฿23.1b฿4.5b16x35.7x7x
Thu, 08 Feb 2024฿125.1b฿21.2b฿5.4b15.5x23.3x5.9x
Sat, 06 Jan 2024฿129.4b฿23.5b฿5.6b13.7x23.1x5.5x
Mon, 04 Dec 2023฿122.1b฿23.7b฿5.6b12.9x21.8x5.2x
Wed, 01 Nov 2023฿120.7b฿23.4b฿5.5b13.3x22.1x5.2x
Fri, 29 Sep 2023฿136.6b฿23.5b฿5.5b14.2x24.9x5.8x
Sun, 27 Aug 2023฿140.2b฿23.4b฿5.5b14.9x25.6x6x
Tue, 25 Jul 2023฿130.8b฿23.8b฿6.3b12.7x20.9x5.5x
Thu, 22 Jun 2023฿127.2b฿23.8b฿6.3b13x20.3x5.3x
Sat, 20 May 2023฿127.4b฿23.8b฿6.2b13.2x20.5x5.4x
Mon, 17 Apr 2023฿140.0b฿24.7b฿6.8b12.3x20.6x5.7x
Wed, 15 Mar 2023฿113.6b฿24.5b฿6.8b12.1x16.7x4.6x
Fri, 10 Feb 2023฿184.3b฿26.8b฿8.2b11.4x22.4x6.9x
Sun, 08 Jan 2023฿187.2b฿26.8b฿8.2b10.7x22.8x7x
Tue, 06 Dec 2022฿186.0b฿26.8b฿8.2b10.4x22.6x6.9x
Thu, 03 Nov 2022฿189.9b฿27.2b฿8.7b9.4x21.7x7x
Sat, 01 Oct 2022฿193.3b฿27.6b฿8.9b9.6x21.8x7x
Mon, 29 Aug 2022฿186.4b฿28.3b฿9.2b10x20.2x6.6x
Wed, 27 Jul 2022฿176.4b฿29.6b฿9.7b8.6x18.1x6x
Fri, 24 Jun 2022฿185.5b฿29.6b฿9.7b8.5x19x6.3x
Price to Earnings Ratio

19x


Total Market Cap: ฿185.5bTotal Earnings: ฿9.7bTotal Revenue: ฿29.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Thai Capital Markets Industry Price to Earnings3Y Average 31.6x202320242025
Current Industry PE
  • Investors are optimistic on the Thai Capital Markets industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 44.1x which is higher than its 3-year average PE of 31.6x.
  • The industry is trading close to its 3-year average PS ratio of 6.1x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have declined 34% per year over the last three years,
  • Revenues have also declined 9.1% 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 Financials industry?

TH Market-1.81%
Financials-1.52%
Capital Markets-0.59%
Asset Management0.15%
Investment Banking and Brokerage-0.72%
Industry PE
  • Investors are most optimistic about the Asset Management industry which is trading above its 3-year average PE ratio.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
  • Investors are most pessimistic about the Investment Banking and Brokerage industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 32.3x.
Forecasted Growth
  • Analysts are most optimistic on the Investment Banking and Brokerage industry, expecting annual earnings growth of 38% over the next 5 years.
  • This is better than its past earnings decline of 23% per year.
  • In contrast, the Investment Banking and Brokerage industry is expected to see its earnings grow by 38% 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
MFC MFC Asset Management฿29.500.9%
+฿31.4m
51.3%PE15.5x
FSX Finansia X฿0.981.0%
+฿8.2m
-55.5%PS0.5x
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Latest News

MFC

฿29.50

MFC Asset Management

7D

0.9%

1Y

51.3%

FNS

฿1.00

FNS Holdings

7D

-5.7%

1Y

-65.0%

BYD

฿0.43

Beyond Securities

7D

-14.0%

1Y

-76.0%

TH

฿0.53

Tong Hua Holding

7D

-7.0%

1Y

-32.1%

FSX

฿0.98

Finansia X

7D

1.0%

1Y

-55.5%

ASP

฿1.97

Asia Plus Group Holdings

7D

-2.5%

1Y

-19.9%

CGH

฿0.47

Country Group Holdings

7D

-6.0%

1Y

-38.2%

XPG

฿0.76

XSpring Capital

7D

-3.8%

1Y

-26.9%

KGI

฿3.58

KGI Securities (Thailand)

7D

-3.8%

1Y

-15.6%

MST

฿7.45

Maybank Securities (Thailand)

7D

-0.7%

1Y

-18.6%