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Thai (SET) Capital Markets Industry Analysis
UpdatedFeb 07, 2026
DataAggregated Company Financials
Companies20
- 7D0.4%
- 3M-4.9%
- 1Y-8.2%
- YTD-0.07%
The Capital Markets industry has been flat over the last week, but AIRA Capital has lost 6.1%. As for the longer term, the industry has declined 8.2% in the last year. Earnings are forecast to grow by 19% annually.
Industry Valuation and Performance
Has the Thai Capital Markets Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 08 Feb 2026 | ฿150.9b | ฿23.0b | ฿2.5b | 17.4x | 60.3x | 6.6x |
| Tue, 06 Jan 2026 | ฿153.3b | ฿23.1b | ฿2.6b | 15x | 59.5x | 6.6x |
| Thu, 04 Dec 2025 | ฿150.8b | ฿23.1b | ฿2.6b | 15.2x | 58.5x | 6.5x |
| Sat, 01 Nov 2025 | ฿153.3b | ฿23.1b | ฿2.6b | 24.5x | 59x | 6.6x |
| Mon, 29 Sep 2025 | ฿156.2b | ฿23.3b | ฿2.7b | 26.8x | 58.3x | 6.7x |
| Wed, 27 Aug 2025 | ฿125.1b | ฿22.4b | ฿2.3b | 20.5x | 55.5x | 5.6x |
| Fri, 25 Jul 2025 | ฿126.9b | ฿22.5b | ฿2.6b | 13.4x | 49.6x | 5.6x |
| Sun, 22 Jun 2025 | ฿123.0b | ฿22.2b | ฿2.8b | 13.2x | 43.7x | 5.5x |
| Tue, 20 May 2025 | ฿126.2b | ฿22.2b | ฿2.8b | 13.2x | 44.9x | 5.7x |
| Thu, 17 Apr 2025 | ฿125.5b | ฿22.4b | ฿3.3b | 12.6x | 38.2x | 5.6x |
| Sat, 15 Mar 2025 | ฿125.7b | ฿22.4b | ฿3.3b | 13.1x | 38.3x | 5.6x |
| Mon, 10 Feb 2025 | ฿126.2b | ฿21.9b | ฿2.0b | 14.5x | 63.2x | 5.8x |
| Wed, 08 Jan 2025 | ฿129.3b | ฿21.7b | ฿1.9b | 16.4x | 67.6x | 5.9x |
| Fri, 06 Dec 2024 | ฿129.7b | ฿21.7b | ฿1.9b | 15.8x | 67.8x | 6x |
| Sun, 03 Nov 2024 | ฿133.2b | ฿21.4b | ฿2.7b | 18x | 48.5x | 6.2x |
| Tue, 01 Oct 2024 | ฿168.6b | ฿24.4b | ฿4.4b | 18.3x | 38x | 6.9x |
| Thu, 29 Aug 2024 | ฿155.9b | ฿24.2b | ฿4.2b | 15.1x | 37x | 6.5x |
| Sat, 27 Jul 2024 | ฿154.1b | ฿24.0b | ฿4.5b | 13.5x | 34.2x | 6.4x |
| Mon, 24 Jun 2024 | ฿164.2b | ฿24.0b | ฿4.5b | 14.4x | 36.5x | 6.9x |
| Wed, 22 May 2024 | ฿170.7b | ฿24.0b | ฿4.4b | 16.3x | 39.2x | 7.1x |
| Fri, 19 Apr 2024 | ฿163.3b | ฿23.1b | ฿4.5b | 15.4x | 36.3x | 7.1x |
| Sun, 17 Mar 2024 | ฿160.6b | ฿23.1b | ฿4.5b | 16.1x | 35.7x | 7x |
| Tue, 13 Feb 2024 | ฿159.4b | ฿21.2b | ฿5.4b | 15.4x | 29.6x | 7.5x |
| Thu, 11 Jan 2024 | ฿87.3b | ฿19.6b | ฿4.5b | 13.3x | 19.5x | 4.4x |
| Sat, 09 Dec 2023 | ฿123.7b | ฿23.7b | ฿5.6b | 12.8x | 22.1x | 5.2x |
| Mon, 06 Nov 2023 | ฿124.3b | ฿23.4b | ฿5.5b | 13.1x | 22.7x | 5.3x |
| Wed, 04 Oct 2023 | ฿136.3b | ฿23.5b | ฿5.5b | 14x | 24.9x | 5.8x |
| Fri, 01 Sep 2023 | ฿143.7b | ฿23.4b | ฿5.5b | 15.3x | 26.2x | 6.1x |
| Sun, 30 Jul 2023 | ฿132.9b | ฿23.8b | ฿6.3b | 12.6x | 21.2x | 5.6x |
| Tue, 27 Jun 2023 | ฿125.0b | ฿23.8b | ฿6.3b | 12.2x | 20x | 5.3x |
| Thu, 25 May 2023 | ฿128.3b | ฿23.8b | ฿6.3b | 13.2x | 20.5x | 5.4x |
| Sat, 22 Apr 2023 | ฿136.9b | ฿24.7b | ฿6.8b | 12.2x | 20.2x | 5.6x |
| Mon, 20 Mar 2023 | ฿116.3b | ฿24.7b | ฿6.8b | 12.5x | 17.1x | 4.7x |
| Wed, 15 Feb 2023 | ฿181.5b | ฿26.8b | ฿8.2b | 10.6x | 22.1x | 6.8x |
Price to Earnings Ratio
22.1x
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 60.3x which is higher than its 3-year average PE of 38.9x.
- The industry is trading close to its 3-year average PS ratio of 6.0x.
Past Earnings Growth
- The earnings for companies in the Capital Markets industry have declined 33% per year over the last three years,
- Revenues have also declined 5.0% 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 | 2.12% | |
| Financials | 0.10% | |
| Capital Markets | 0.44% | |
| Investment Banking and Brokerage | 1.14% | |
| Asset Management | -4.00% | |
Industry PE
- Investors are most optimistic about the Investment Banking and Brokerage industry which is trading above its 3-year average PE ratio of 39.9x.
- Analysts are expecting annual earnings growth of 18.7%, which is higher than its past year's earnings decline of 29.5% per year.
- Investors are most pessimistic about the Asset Management industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
- Analysts are most optimistic on the Investment Banking and Brokerage industry, expecting annual earnings growth of 19% over the next 5 years.
- This is better than its past earnings decline of 30% per year.
- In contrast, the Investment Banking and Brokerage industry is expected to see its earnings grow by 19% 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 | |
|---|---|---|---|---|---|
| XPG XSpring Capital | ฿0.47 | 2.2% +฿107.0m | -47.2% | PE24.8x | |
| CGH Country Group Holdings | ฿0.50 | 4.2% +฿83.0m | -3.8% | PS1.5x | |
| KGI KGI Securities (Thailand) | ฿4.14 | 0.5% +฿39.8m | -1.0% | PE8.4x | |
| MST Maybank Securities (Thailand) | ฿6.70 | 0.8% +฿28.5m | -24.7% | PE17.3x | |
| MII MFC Industrial Investment Property and Leasehold Fund | ฿4.52 | 0.9% +฿6.9m | -23.4% | n/a |