Thai (SET) Insurance Industry Analysis
UpdatedDec 10, 2023
DataAggregated Company Financials
Companies21
- 7D-2.5%
- 3M-19.3%
- 1Y-31.4%
- YTD-30.4%
Over the last 7 days, the Insurance industry has dropped 2.5%, driven by a pullback from Thai Life Insurance of 5.7%. Overall the industry is down 31% in 12 months. As for the next few years, earnings are expected to grow by 15% per annum.
Industry Valuation and Performance
Has the Thai Insurance Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 10 Dec 2023 | ฿253.4b | ฿268.9b | ฿16.2b | 11.7x | 15.6x | 0.9x |
| Tue, 07 Nov 2023 | ฿279.7b | ฿265.6b | ฿16.9b | 13.4x | 16.6x | 1.1x |
| Thu, 05 Oct 2023 | ฿318.2b | ฿265.6b | ฿16.9b | 16.8x | 18.9x | 1.2x |
| Sat, 02 Sep 2023 | ฿315.8b | ฿265.6b | ฿16.9b | 15.5x | 18.7x | 1.2x |
| Mon, 31 Jul 2023 | ฿298.1b | ฿269.1b | ฿15.9b | 18.5x | 18.8x | 1.1x |
| Wed, 28 Jun 2023 | ฿314.4b | ฿269.1b | ฿15.9b | 18.4x | 19.8x | 1.2x |
| Fri, 26 May 2023 | ฿319.1b | ฿269.1b | ฿15.9b | 18.9x | 20.1x | 1.2x |
| Sun, 23 Apr 2023 | ฿326.1b | ฿271.2b | -฿14,503,187,083.00 | 15.6x | -22.5x | 1.2x |
| Tue, 21 Mar 2023 | ฿323.9b | ฿271.2b | -฿14,503,187,083.00 | 15.3x | -22.3x | 1.2x |
| Thu, 16 Feb 2023 | ฿361.1b | ฿270.2b | -฿20,943,500,043.00 | 23x | -17.2x | 1.3x |
| Sat, 14 Jan 2023 | ฿358.4b | ฿270.2b | -฿20,937,218,043.00 | 22.7x | -17.1x | 1.3x |
| Mon, 12 Dec 2022 | ฿371.6b | ฿270.2b | -฿20,937,218,046.00 | 23.2x | -17.7x | 1.4x |
| Wed, 09 Nov 2022 | ฿396.8b | ฿268.0b | -฿26,101,149,766.00 | 17x | -15.2x | 1.5x |
| Fri, 07 Oct 2022 | ฿391.1b | ฿267.6b | -฿26,101,146,766.00 | 18x | -15x | 1.5x |
| Sun, 04 Sep 2022 | ฿407.9b | ฿267.6b | -฿26,101,146,766.00 | 18.7x | -15.6x | 1.5x |
| Tue, 02 Aug 2022 | ฿390.5b | ฿266.4b | -฿22,156,130,454.00 | 18.9x | -17.6x | 1.5x |
| Thu, 30 Jun 2022 | ฿226.8b | ฿157.3b | -฿31,034,972,454.00 | 20.3x | -7.3x | 1.4x |
| Sat, 28 May 2022 | ฿222.0b | ฿157.3b | -฿31,034,972,454.00 | 20.8x | -7.2x | 1.4x |
| Mon, 25 Apr 2022 | ฿226.9b | ฿156.8b | ฿1.5b | 20.2x | 149.2x | 1.4x |
| Wed, 23 Mar 2022 | ฿220.6b | ฿156.6b | ฿1.8b | 19.1x | 123.3x | 1.4x |
| Fri, 18 Feb 2022 | ฿240.1b | ฿155.9b | ฿6.3b | 21.4x | 38x | 1.5x |
| Sun, 16 Jan 2022 | ฿237.5b | ฿155.9b | ฿6.3b | 20.3x | 37.6x | 1.5x |
| Tue, 14 Dec 2021 | ฿226.7b | ฿155.9b | ฿6.3b | 19x | 35.9x | 1.5x |
| Thu, 11 Nov 2021 | ฿217.7b | ฿165.6b | ฿14.6b | 11.7x | 15x | 1.3x |
| Sat, 09 Oct 2021 | ฿225.6b | ฿165.6b | ฿14.6b | 11.8x | 15.4x | 1.4x |
| Mon, 06 Sep 2021 | ฿193.5b | ฿152.4b | ฿12.4b | 11.2x | 15.7x | 1.3x |
| Wed, 04 Aug 2021 | ฿193.1b | ฿152.4b | ฿12.4b | 10.8x | 15.6x | 1.3x |
| Sat, 08 May 2021 | ฿198.1b | ฿149.0b | ฿13.1b | 10.1x | 15.1x | 1.3x |
| Tue, 09 Feb 2021 | ฿186.9b | ฿148.0b | ฿10.4b | 18.2x | 18x | 1.3x |
Price to Earnings Ratio
17.8x
Current Industry PE
- Investors are relatively neutral on the Thai Insurance 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 15.6x.
- The 3-year average PS ratio of 1.3x is higher than the industry's current PS ratio of 0.94x.
Past Earnings Growth
- The earnings for companies in the Insurance industry have grown 16% per year over the last three years.
- Revenues for these companies have grown 22% 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 industry?
| TH Market | 0.11% | |
| Financials | -0.35% | |
| Insurance | -2.52% | |
| Insurance Brokers | 3.18% | |
| Property and Casualty Insurance | 0.33% | |
| General Insurance | -1.10% | |
| Life and Health Insurance | -4.81% | |
| Reinsurance | -5.64% | |
Industry PE
- Investors are most optimistic about the Reinsurance 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.
Forecasted Growth
- Analysts are most optimistic on the Insurance Brokers industry, expecting annual earnings growth of 18% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- In contrast, the Life and Health Insurance industry is expected to see its earnings grow by 15% 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 | |
|---|---|---|---|---|---|
| TQM TQM Alpha | ฿28.75 | 3.6% +฿600.0m | -27.7% | PE21.3x | |
| TIPH Dhipaya Group Holdings | ฿30.00 | 0.8% +฿148.6m | -40.3% | PE10.9x | |
| MTI Muang Thai Insurance | ฿110.50 | 0.9% +฿59.0m | -10.5% | PE9.9x | |
| NKI Navakij Insurance | ฿28.50 | 2.7% +฿27.8m | -13.8% | PE8.1x | |
| INSURE Indara Insurance | ฿112.00 | 1.8% +฿20.0m | -49.1% | PE10.5x |