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Thai (SET) Healthcare Sector Analysis
UpdatedMar 05, 2026
DataAggregated Company Financials
Companies52
- 7D-8.2%
- 3M3.7%
- 1Y-16.4%
- YTD1.2%
Over the last 7 days, the Healthcare industry has dropped 8.2%, driven by a pullback from Bangkok Dusit Medical Services of 8.9%. However, the industry is down 16% over the past year. Looking forward, earnings are forecast to grow by 8.6% annually.
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 |
|---|---|---|---|---|---|---|
| Thu, 05 Mar 2026 | ฿726.8b | ฿314.7b | ฿39.2b | 14.3x | 18.6x | 2.3x |
| Sat, 31 Jan 2026 | ฿736.4b | ฿310.4b | ฿35.4b | 15.1x | 20.8x | 2.4x |
| Mon, 29 Dec 2025 | ฿718.2b | ฿310.4b | ฿35.4b | 15.2x | 20.3x | 2.3x |
| Wed, 26 Nov 2025 | ฿708.0b | ฿310.1b | ฿35.5b | 15.2x | 20x | 2.3x |
| Fri, 24 Oct 2025 | ฿753.0b | ฿310.8b | ฿35.9b | 16.2x | 21x | 2.4x |
| Sun, 21 Sep 2025 | ฿771.2b | ฿310.8b | ฿35.9b | 18.2x | 21.5x | 2.5x |
| Tue, 19 Aug 2025 | ฿766.3b | ฿310.9b | ฿35.9b | 17x | 21.4x | 2.5x |
| Thu, 17 Jul 2025 | ฿732.5b | ฿308.5b | ฿36.1b | 16x | 20.3x | 2.4x |
| Sat, 14 Jun 2025 | ฿725.6b | ฿308.5b | ฿36.1b | 16x | 20.1x | 2.4x |
| Mon, 12 May 2025 | ฿815.3b | ฿305.7b | ฿35.9b | 17.5x | 22.7x | 2.7x |
| Wed, 09 Apr 2025 | ฿767.3b | ฿306.1b | ฿36.2b | 16.7x | 21.2x | 2.5x |
| Fri, 07 Mar 2025 | ฿836.2b | ฿306.6b | ฿35.9b | 18.2x | 23.3x | 2.7x |
| Sun, 02 Feb 2025 | ฿858.3b | ฿304.6b | ฿37.5b | 18.3x | 22.9x | 2.8x |
| Tue, 31 Dec 2024 | ฿923.7b | ฿305.0b | ฿37.4b | 20.2x | 24.7x | 3x |
| Thu, 28 Nov 2024 | ฿950.8b | ฿302.5b | ฿37.2b | 21x | 25.5x | 3.1x |
| Sat, 26 Oct 2024 | ฿1.1t | ฿296.8b | ฿37.0b | 22.3x | 29.1x | 3.6x |
| Mon, 23 Sep 2024 | ฿1.1t | ฿293.4b | ฿36.3b | 22.3x | 30.3x | 3.7x |
| Wed, 21 Aug 2024 | ฿1.0t | ฿293.4b | ฿36.3b | 22.4x | 27.8x | 3.4x |
| Fri, 19 Jul 2024 | ฿1.0t | ฿289.9b | ฿35.9b | 22.1x | 28.4x | 3.5x |
| Sun, 16 Jun 2024 | ฿1.0t | ฿289.9b | ฿35.9b | 22.9x | 29x | 3.6x |
| Tue, 14 May 2024 | ฿1.1t | ฿285.2b | ฿35.1b | 25.2x | 31.3x | 3.8x |
| Thu, 11 Apr 2024 | ฿1.1t | ฿282.6b | ฿34.5b | 24.7x | 30.9x | 3.8x |
| Sat, 09 Mar 2024 | ฿1.1t | ฿282.5b | ฿34.5b | 24.9x | 31.3x | 3.8x |
| Mon, 05 Feb 2024 | ฿1.1t | ฿288.6b | ฿35.8b | 27.4x | 31.3x | 3.9x |
| Wed, 03 Jan 2024 | ฿1.1t | ฿288.6b | ฿35.8b | 28.9x | 31x | 3.8x |
| Fri, 01 Dec 2023 | ฿1.1t | ฿288.5b | ฿35.8b | 26.9x | 29.8x | 3.7x |
| Sun, 29 Oct 2023 | ฿1.1t | ฿282.8b | ฿34.2b | 26.8x | 32x | 3.9x |
| Tue, 26 Sep 2023 | ฿1.1t | ฿282.0b | ฿33.9b | 28.8x | 33.7x | 4.1x |
| Thu, 24 Aug 2023 | ฿1.1t | ฿281.7b | ฿33.8b | 26.9x | 33.9x | 4.1x |
| Sat, 22 Jul 2023 | ฿1.1t | ฿285.0b | ฿37.1b | 24.4x | 30.2x | 3.9x |
| Mon, 19 Jun 2023 | ฿1.1t | ฿281.7b | ฿36.7b | 25.7x | 31.1x | 4x |
| Wed, 17 May 2023 | ฿1.2t | ฿292.0b | ฿42.0b | 19.6x | 27.6x | 4x |
| Fri, 14 Apr 2023 | ฿1.2t | ฿292.9b | ฿43.1b | 19.9x | 27.5x | 4.1x |
| Sun, 12 Mar 2023 | ฿1.2t | ฿299.0b | ฿46.9b | 19.1x | 24.6x | 3.9x |
Price to Earnings Ratio
24.6x
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 18.6x which is lower than its 3-year average PE of 26.4x.
- The 3-year average PS ratio of 3.3x is higher than the industry's current PS ratio of 2.3x.
Past Earnings Growth
- The earnings for companies in the Healthcare industry have declined 5.8% 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 | -8.71% | |
| Healthcare | -8.21% | |
| Biotech | 0% | 0 |
| Life Sciences | 0% | 0 |
| Pharma | -6.39% | |
| Medical Equipment | -8.29% | |
| Healthcare Services | -8.31% | |
Industry PE
- Investors are most optimistic about the Medical Equipment industry which is trading above its 3-year average PE ratio of 30.3x.
- Analysts are expecting annual earnings growth of 59.3%, which is higher than its past year's earnings decline of 31.3% per year.
- Investors are most pessimistic about the Pharma industry, which is trading below its 3-year average of 19.6x.
Forecasted Growth
- Analysts are most optimistic on the Medical Equipment industry, expecting annual earnings growth of 59% over the next 5 years.
- This is better than its past earnings decline of 31% per year.
- In contrast, the Healthcare Services industry is expected to see its earnings grow by 6.5% 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 | |
|---|---|---|---|---|---|
| KLINIQ Klinique Medical Clinic | ฿25.25 | 3.9% +฿209.0m | -19.8% | PE15.3x | |
| KDH Thonburi Medical Centre | ฿88.50 | 4.4% +฿72.7m | -4.1% | PE11.3x | |
| BIZ Business Alignment | ฿5.15 | 1.0% +฿30.0m | 37.7% | PE10.1x |