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Thai (SET) Healthcare Sector Analysis
UpdatedJan 17, 2026
DataAggregated Company Financials
Companies52
- 7D-0.7%
- 3M-6.8%
- 1Y-21.6%
- YTD-2.9%
Last week, the Healthcare industry hasn't moved much but Sri Trang Gloves (Thailand) is up 4.2% in that time. Unfortunately though, the industry is down 22% over the past 12 months. As for the next few years, earnings are expected to grow by 10% per annum.
Sector Valuation and Performance
Has the Thai Healthcare Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 18 Jan 2026 | ฿696.7b | ฿310.4b | ฿35.4b | 15.2x | 19.7x | 2.2x |
| Tue, 16 Dec 2025 | ฿730.3b | ฿310.5b | ฿35.5b | 14.9x | 20.6x | 2.4x |
| Thu, 13 Nov 2025 | ฿721.1b | ฿310.8b | ฿35.9b | 15.4x | 20.1x | 2.3x |
| Sat, 11 Oct 2025 | ฿755.0b | ฿310.8b | ฿35.9b | 16.8x | 21x | 2.4x |
| Mon, 08 Sep 2025 | ฿771.4b | ฿310.8b | ฿35.9b | 17.3x | 21.5x | 2.5x |
| Wed, 06 Aug 2025 | ฿806.7b | ฿308.2b | ฿35.9b | 16.6x | 22.4x | 2.6x |
| Fri, 04 Jul 2025 | ฿712.5b | ฿308.5b | ฿36.1b | 15.4x | 19.7x | 2.3x |
| Sun, 01 Jun 2025 | ฿735.3b | ฿308.5b | ฿36.1b | 16.7x | 20.4x | 2.4x |
| Tue, 29 Apr 2025 | ฿792.6b | ฿305.7b | ฿35.9b | 17x | 22.1x | 2.6x |
| Thu, 27 Mar 2025 | ฿806.9b | ฿306.1b | ฿36.2b | 17.7x | 22.3x | 2.6x |
| Sat, 22 Feb 2025 | ฿862.2b | ฿306.1b | ฿38.1b | 17.5x | 22.6x | 2.8x |
| Mon, 20 Jan 2025 | ฿876.3b | ฿304.6b | ฿37.5b | 18x | 23.4x | 2.9x |
| Wed, 18 Dec 2024 | ฿894.3b | ฿302.6b | ฿37.2b | 19.7x | 24x | 3x |
| Fri, 15 Nov 2024 | ฿991.0b | ฿300.6b | ฿37.4b | 22x | 26.5x | 3.3x |
| Sun, 13 Oct 2024 | ฿1.1t | ฿293.9b | ฿36.3b | 22.4x | 29.3x | 3.6x |
| Tue, 10 Sep 2024 | ฿1.1t | ฿293.4b | ฿36.3b | 22.8x | 29.9x | 3.7x |
| Thu, 08 Aug 2024 | ฿996.4b | ฿289.9b | ฿35.9b | 20.2x | 27.7x | 3.4x |
| Sat, 06 Jul 2024 | ฿1.0t | ฿289.9b | ฿35.9b | 22.9x | 28.5x | 3.5x |
| Mon, 03 Jun 2024 | ฿1.1t | ฿289.4b | ฿35.8b | 24.8x | 29.4x | 3.6x |
| Wed, 01 May 2024 | ฿1.1t | ฿283.3b | ฿34.9b | 24.2x | 31.2x | 3.8x |
| Fri, 29 Mar 2024 | ฿1.1t | ฿282.5b | ฿34.5b | 24.3x | 30.7x | 3.8x |
| Sun, 25 Feb 2024 | ฿1.1t | ฿280.9b | ฿34.2b | 26.1x | 32x | 3.9x |
| Tue, 23 Jan 2024 | ฿1.1t | ฿288.6b | ฿35.8b | 27.7x | 31.2x | 3.9x |
| Thu, 21 Dec 2023 | ฿1.1t | ฿288.6b | ฿35.8b | 26.2x | 29.5x | 3.7x |
| Sat, 18 Nov 2023 | ฿1.1t | ฿288.5b | ฿35.8b | 27.1x | 30.3x | 3.8x |
| Mon, 16 Oct 2023 | ฿1.1t | ฿282.0b | ฿33.9b | 29.1x | 33.5x | 4x |
| Wed, 13 Sep 2023 | ฿1.1t | ฿281.7b | ฿33.8b | 28.2x | 33.8x | 4.1x |
| Fri, 11 Aug 2023 | ฿1.1t | ฿284.2b | ฿36.2b | 25.1x | 31.7x | 4x |
| Sun, 09 Jul 2023 | ฿1.1t | ฿283.0b | ฿36.8b | 24.8x | 29.6x | 3.9x |
| Tue, 06 Jun 2023 | ฿1.1t | ฿281.7b | ฿36.8b | 25.8x | 30.9x | 4x |
| Thu, 04 May 2023 | ฿1.2t | ฿294.8b | ฿44.0b | 19.6x | 26.8x | 4x |
| Sat, 01 Apr 2023 | ฿1.2t | ฿292.9b | ฿43.1b | 19.2x | 27.3x | 4x |
| Mon, 27 Feb 2023 | ฿1.2t | ฿303.6b | ฿50.9b | 19.6x | 23.3x | 3.9x |
| Wed, 25 Jan 2023 | ฿1.2t | ฿300.9b | ฿51.3b | 18.9x | 22.8x | 3.9x |
Price to Earnings Ratio
22.8x
Current Industry PE
- Investors are pessimistic on the Thai Healthcare 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 19.7x which is lower than its 3-year average PE of 26.5x.
- The 3-year average PS ratio of 3.3x is higher than the industry's current PS ratio of 2.2x.
Past Earnings Growth
- The earnings for companies in the Healthcare industry have declined 12% per year over the last three years.
- Meanwhile revenues have remained mostly flat.
- This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Thai Healthcare sector?
| TH Market | 1.70% | |
| Healthcare | -0.67% | |
| Medical Equipment | 3.27% | |
| Biotech | 0% | 0 |
| Life Sciences | 0% | 0 |
| Healthcare Services | -0.70% | |
| Pharma | -3.34% | |
Industry PE
- Investors are most optimistic about the Medical Equipment industry even though it's trading below its 3-year average PE ratio of 29.2x.
- Analysts are expecting annual earnings growth of 12.9%, which is higher than its past year's earnings decline of 13.7% per year.
- Investors are most pessimistic about the Pharma industry, which is trading below its 3-year average of 19.7x.
Forecasted Growth
- Analysts are most optimistic on the Medical Equipment industry, expecting annual earnings growth of 13% over the next 5 years.
- This is better than its past earnings decline of 14% per year.
- In contrast, the Pharma industry is expected to see its earnings grow by 10% 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 | |
|---|---|---|---|---|---|
| STGT Sri Trang Gloves (Thailand) | ฿9.95 | 4.2% +฿1.0b | 10.6% | PE29x | |
| BCH Bangkok Chain Hospital | ฿10.00 | 1.0% +฿249.4m | -31.0% | PE19.3x | |
| TL-R Techlead NPN | ฿0.30 | -6.3% ฿231.1m | -40.0% | PS12.1x | |
| CHG Chularat Hospital | ฿1.53 | 1.3% +฿220.0m | -31.1% | PE21.1x | |
| TNH Thai Nakarin Hospital | ฿32.00 | 1.6% +฿90.0m | -11.7% | PE15.2x |