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Thai (SET) Industrials Sector Analysis
UpdatedFeb 21, 2025
DataAggregated Company Financials
Companies171
- 7D-10.6%
- 3M-22.3%
- 1Y-28.7%
- YTD-20.0%
Over the last 7 days, the Industrials industry has dropped 11%, driven by a pullback from Airports of Thailand of 20%. On the other hand Bangkok Airways is actually up 8.9%. However, the industry is down 29% over the past year. Looking forward, earnings are forecast to grow by 10% annually.
Sector Valuation and Performance
Has the Thai Industrials Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 21 Feb 2025 | ฿1.2t | ฿802.5b | ฿46.2b | 11.4x | 26.7x | 1.5x |
| Sun, 19 Jan 2025 | ฿1.4t | ฿798.9b | ฿37.6b | 12.2x | 37.8x | 1.8x |
| Tue, 17 Dec 2024 | ฿1.6t | ฿796.0b | ฿37.3b | 14.2x | 42.2x | 2x |
| Thu, 14 Nov 2024 | ฿1.6t | ฿824.3b | ฿36.8b | 13.7x | 42.4x | 1.9x |
| Sat, 12 Oct 2024 | ฿1.6t | ฿782.0b | ฿37.2b | 15.5x | 43.8x | 2.1x |
| Mon, 09 Sep 2024 | ฿1.6t | ฿781.3b | ฿36.7b | 15.6x | 43.9x | 2.1x |
| Wed, 07 Aug 2024 | ฿1.4t | ฿772.4b | ฿32.3b | 13.2x | 44.5x | 1.9x |
| Fri, 05 Jul 2024 | ฿1.5t | ฿774.5b | ฿32.3b | 14.9x | 46.6x | 1.9x |
| Sun, 02 Jun 2024 | ฿1.7t | ฿773.3b | ฿32.6b | 16x | 51.4x | 2.2x |
| Tue, 30 Apr 2024 | ฿1.7t | ฿755.7b | ฿26.1b | 16.4x | 64.1x | 2.2x |
| Thu, 28 Mar 2024 | ฿1.7t | ฿762.8b | ฿25.5b | 17.3x | 66.7x | 2.2x |
| Sat, 24 Feb 2024 | ฿1.7t | ฿757.3b | ฿28.1b | 17.1x | 60.2x | 2.2x |
| Mon, 22 Jan 2024 | ฿1.6t | ฿762.1b | ฿31.2b | 16.7x | 52.3x | 2.1x |
| Wed, 20 Dec 2023 | ฿1.6t | ฿726.9b | ฿30.5b | 15x | 52.5x | 2.2x |
| Fri, 17 Nov 2023 | ฿1.7t | ฿720.3b | ฿27.4b | 14.8x | 62.8x | 2.4x |
| Sun, 15 Oct 2023 | ฿1.8t | ฿717.6b | ฿29.1b | 15.7x | 60.2x | 2.4x |
| Tue, 12 Sep 2023 | ฿1.8t | ฿713.5b | ฿28.7b | 16.9x | 64.4x | 2.6x |
| Thu, 10 Aug 2023 | ฿1.8t | ฿702.5b | ฿23.8b | 16.1x | 76.4x | 2.6x |
| Sat, 08 Jul 2023 | ฿1.8t | ฿702.4b | ฿26.4b | 16.2x | 69.2x | 2.6x |
| Mon, 05 Jun 2023 | ฿1.8t | ฿734.4b | ฿30.0b | 16.7x | 61.3x | 2.5x |
| Wed, 03 May 2023 | ฿2.0t | ฿724.0b | ฿30.9b | 18.4x | 63.4x | 2.7x |
| Fri, 31 Mar 2023 | ฿2.0t | ฿723.8b | ฿30.9b | 19.6x | 63.7x | 2.7x |
| Sun, 26 Feb 2023 | ฿2.0t | ฿700.4b | ฿38.6b | 20.1x | 52.3x | 2.9x |
| Tue, 24 Jan 2023 | ฿2.1t | ฿695.0b | ฿36.2b | 20.3x | 58.1x | 3x |
| Thu, 22 Dec 2022 | ฿2.0t | ฿694.7b | ฿36.1b | 18.5x | 55.8x | 2.9x |
| Sat, 19 Nov 2022 | ฿2.1t | ฿687.1b | ฿32.5b | 18x | 63.2x | 3x |
| Mon, 17 Oct 2022 | ฿2.0t | ฿659.0b | ฿25.7b | 17.5x | 78.4x | 3.1x |
| Wed, 14 Sep 2022 | ฿2.1t | ฿658.1b | ฿25.7b | 18.7x | 80.8x | 3.2x |
| Fri, 12 Aug 2022 | ฿2.0t | ฿642.4b | ฿28.5b | 18.9x | 71.9x | 3.2x |
| Sun, 10 Jul 2022 | ฿2.0t | ฿630.1b | ฿22.8b | 18.5x | 87.7x | 3.2x |
| Tue, 07 Jun 2022 | ฿2.0t | ฿627.9b | ฿22.5b | 20.5x | 90.9x | 3.3x |
| Thu, 05 May 2022 | ฿2.0t | ฿602.6b | ฿17.8b | 22.2x | 112.7x | 3.3x |
| Sat, 02 Apr 2022 | ฿2.0t | ฿602.6b | ฿17.8b | 22.5x | 113.4x | 3.3x |
| Mon, 28 Feb 2022 | ฿2.0t | ฿599.3b | ฿14.5b | 22.7x | 137.1x | 3.3x |
Price to Earnings Ratio
137.1x
Current Industry PE
- Investors are pessimistic on the Thai Industrials 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 26.7x which is lower than its 3-year average PE of 65.2x.
- The 3-year average PS ratio of 2.6x is higher than the industry's current PS ratio of 1.5x.
Past Earnings Growth
- The earnings for companies in the Industrials industry have grown 47% per year over the last three years.
- Revenues for these companies have grown 10% 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 Industrials sector?
| TH Market | -2.96% | |
| Industrials | -10.62% | |
| Industrials | 7.85% | |
| Airlines | 6.45% | |
| Professional Services | 4.27% | |
| Commercial Services | 2.70% | |
| Trade Distributors | 2.22% | |
| Electrical | 1.64% | |
| Marine and Shipping | 1.60% | |
| Logistics | 0.68% | |
| Machinery | 0.44% | |
| Aerospace & Defense | 0% | 0 |
| Transportation | -0.50% | |
| Building | -1.05% | |
| Construction | -2.14% | |
| Infrastructure | -16.74% | |
Industry PE
- Investors are most optimistic about the Trade Distributors industry which is trading above its 3-year average PE ratio of 29.3x.
- 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 Commercial Services industry, expecting annual earnings growth of 63% over the next 5 years.
- This is better than its past earnings growth rate of 5.1% per year.
- In contrast, the Transportation industry is expected to see its earnings decline 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 | |
|---|---|---|---|---|---|
| BTS BTS Group Holdings | ฿6.20 | 6.0% +฿5.6b | 13.8% | PE44.6x | |
| BA Bangkok Airways | ฿20.90 | 7.2% +฿2.9b | 30.6% | PE15.1x | |
| RCL Regional Container Lines | ฿26.75 | 7.9% +฿1.6b | 13.8% | PE4.2x | |
| PSG PSG Corporation | ฿0.31 | 6.9% +฿1.3b | -56.3% | PE10.4x | |
| TTA Thoresen Thai Agencies | ฿4.64 | 11.0% +฿838.3m | -30.2% | PE18.3x |