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Thai (SET) Healthcare Sector Analysis
UpdatedJul 17, 2025
DataAggregated Company Financials
Companies52
- 7D4.6%
- 3M-8.7%
- 1Y-29.2%
- YTD-21.1%
In the last week, the Healthcare industry is up 4.6%, with Bangkok Dusit Medical Services up 7.5%. During this same period, the Techlead NPN underperformed, falling 8.3%. However, the industry is down 29% over the past year. Earnings are forecast to grow by 7.8% 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 |
|---|---|---|---|---|---|---|
| Fri, 18 Jul 2025 | ฿732.5b | ฿308.5b | ฿36.1b | 16x | 20.3x | 2.4x |
| Sun, 15 Jun 2025 | ฿725.7b | ฿308.5b | ฿36.1b | 16x | 20.1x | 2.4x |
| Tue, 13 May 2025 | ฿815.3b | ฿305.7b | ฿35.9b | 17.5x | 22.7x | 2.7x |
| Thu, 10 Apr 2025 | ฿779.2b | ฿306.1b | ฿36.2b | 16.9x | 21.5x | 2.5x |
| Sat, 08 Mar 2025 | ฿839.3b | ฿306.6b | ฿35.9b | 18.1x | 23.4x | 2.7x |
| Mon, 03 Feb 2025 | ฿858.3b | ฿304.6b | ฿37.5b | 18.3x | 22.9x | 2.8x |
| Wed, 01 Jan 2025 | ฿923.7b | ฿305.0b | ฿37.4b | 20.2x | 24.7x | 3x |
| Fri, 29 Nov 2024 | ฿953.9b | ฿302.5b | ฿37.2b | 20.7x | 25.6x | 3.2x |
| Sun, 27 Oct 2024 | ฿1.1t | ฿296.8b | ฿37.0b | 22.3x | 29.1x | 3.6x |
| Tue, 24 Sep 2024 | ฿1.1t | ฿293.4b | ฿36.3b | 22.3x | 30.3x | 3.7x |
| Thu, 22 Aug 2024 | ฿1.0t | ฿293.4b | ฿36.3b | 22x | 28.4x | 3.5x |
| Sat, 20 Jul 2024 | ฿1.0t | ฿289.9b | ฿35.9b | 21.7x | 28.5x | 3.5x |
| Mon, 17 Jun 2024 | ฿1.0t | ฿289.9b | ฿35.9b | 22.9x | 29x | 3.6x |
| Wed, 15 May 2024 | ฿1.1t | ฿285.1b | ฿35.1b | 25.2x | 31.4x | 3.9x |
| Fri, 12 Apr 2024 | ฿1.1t | ฿282.6b | ฿34.5b | 24.4x | 30.6x | 3.7x |
| Sun, 10 Mar 2024 | ฿1.1t | ฿282.4b | ฿34.5b | 24.9x | 31.3x | 3.8x |
| Tue, 06 Feb 2024 | ฿1.1t | ฿275.3b | ฿33.6b | 27.5x | 32.3x | 3.9x |
| Thu, 04 Jan 2024 | ฿1.1t | ฿288.6b | ฿35.8b | 28.9x | 30.8x | 3.8x |
| Sat, 02 Dec 2023 | ฿1.1t | ฿288.5b | ฿35.8b | 26.9x | 29.6x | 3.7x |
| Mon, 30 Oct 2023 | ฿1.1t | ฿282.8b | ฿34.2b | 26.8x | 32x | 3.9x |
| Wed, 27 Sep 2023 | ฿1.1t | ฿282.0b | ฿33.9b | 29.1x | 33.9x | 4.1x |
| Fri, 25 Aug 2023 | ฿1.1t | ฿281.7b | ฿33.8b | 27.7x | 33.7x | 4x |
| Sun, 23 Jul 2023 | ฿1.1t | ฿285.0b | ฿37.1b | 24.4x | 30.2x | 3.9x |
| Tue, 20 Jun 2023 | ฿1.1t | ฿281.7b | ฿36.7b | 24.9x | 30.9x | 4x |
| Thu, 18 May 2023 | ฿1.2t | ฿283.5b | ฿37.9b | 20.6x | 30.5x | 4.1x |
| Sat, 15 Apr 2023 | ฿1.2t | ฿292.9b | ฿43.1b | 19.9x | 27.5x | 4.1x |
| Mon, 13 Mar 2023 | ฿1.2t | ฿297.0b | ฿45.4b | 20x | 25.4x | 3.9x |
| Wed, 08 Feb 2023 | ฿1.2t | ฿302.2b | ฿51.6b | 19.2x | 23.3x | 4x |
| Fri, 06 Jan 2023 | ฿1.2t | ฿299.5b | ฿51.1b | 18.6x | 22.8x | 3.9x |
| Sun, 04 Dec 2022 | ฿1.1t | ฿299.2b | ฿51.1b | 17.8x | 22.4x | 3.8x |
| Tue, 01 Nov 2022 | ฿1.2t | ฿310.5b | ฿62.6b | 15.1x | 18.7x | 3.8x |
| Thu, 29 Sep 2022 | ฿1.2t | ฿310.5b | ฿62.7b | 14.6x | 18.8x | 3.8x |
| Sat, 27 Aug 2022 | ฿1.2t | ฿310.5b | ฿62.7b | 14.6x | 18.5x | 3.7x |
| Mon, 25 Jul 2022 | ฿1.1t | ฿302.8b | ฿65.4b | 13.9x | 16.9x | 3.6x |
Price to Earnings Ratio
16.9x
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 20.3x which is lower than its 3-year average PE of 26.3x.
- The 3-year average PS ratio of 3.6x is higher than the industry's current PS ratio of 2.4x.
Past Earnings Growth
- The earnings for companies in the Healthcare industry have declined 18% 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 | 4.28% | |
| Healthcare | 4.56% | |
| Healthcare Services | 4.71% | |
| Medical Equipment | 3.41% | |
| Pharma | 2.60% | |
| Biotech | 0% | 0 |
| Life Sciences | 0% | 0 |
Industry PE
- Investors are most optimistic about the Healthcare Services industry even though it's trading below its 3-year average PE ratio of 27.1x.
- Analysts are expecting annual earnings growth of 7.8%, which is higher than its past year's earnings decline of 5.5% per year.
- Investors are most pessimistic about the Medical Equipment industry, which is trading below its 3-year average of 27.1x.
Forecasted Growth
- Analysts are most optimistic on the Pharma industry, expecting annual earnings growth of 8.4% over the next 5 years.
- This is better than its past earnings decline of 1.6% per year.
- In contrast, the Medical Equipment 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 | |
|---|---|---|---|---|---|
| BDMS Bangkok Dusit Medical Services | ฿21.50 | 7.5% +฿23.8b | -19.6% | PE21x | |
| BH Bumrungrad Hospital | ฿147.00 | 8.1% +฿8.7b | -40.7% | PE15.5x | |
| MEGA Mega Lifesciences | ฿28.00 | 7.7% +฿1.7b | -22.8% | PE12.3x | |
| BCH Bangkok Chain Hospital | ฿13.60 | 4.6% +฿1.5b | -23.2% | PE26.4x | |
| STGT Sri Trang Gloves (Thailand) | ฿6.45 | 8.4% +฿1.4b | -34.5% | PE14.5x |