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Thai (SET) Industrials Sector Analysis
UpdatedMar 21, 2026
DataAggregated Company Financials
Companies167
- 7D-0.04%
- 3M-8.8%
- 1Y4.9%
- YTD-6.3%
Over the last 7 days, the Industrials industry has dropped 4.3%, driven by a pullback from Airports of Thailand of 0.5%. Over the last year, the industry has been flat overall. Earnings are forecast to grow by 14% 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 |
|---|---|---|---|---|---|---|
| Sat, 21 Mar 2026 | ฿1.4t | ฿884.1b | ฿84.7b | 10.4x | 16x | 1.5x |
| Mon, 16 Feb 2026 | ฿1.5t | ฿932.4b | ฿44.5b | 10.2x | 34x | 1.6x |
| Wed, 14 Jan 2026 | ฿1.4t | ฿933.8b | ฿45.1b | 9.7x | 30.2x | 1.5x |
| Fri, 12 Dec 2025 | ฿1.4t | ฿933.8b | ฿45.1b | 9.5x | 32x | 1.5x |
| Sun, 09 Nov 2025 | ฿1.3t | ฿960.6b | ฿48.8b | 9.7x | 27.4x | 1.4x |
| Tue, 07 Oct 2025 | ฿1.5t | ฿968.8b | ฿45.6b | 10.5x | 32.3x | 1.5x |
| Thu, 04 Sep 2025 | ฿1.4t | ฿968.8b | ฿45.6b | 10.2x | 30.7x | 1.4x |
| Sat, 02 Aug 2025 | ฿1.1t | ฿793.5b | ฿50.1b | 10.5x | 21.4x | 1.4x |
| Mon, 30 Jun 2025 | ฿895.5b | ฿792.3b | ฿49.5b | 9.8x | 18.1x | 1.1x |
| Wed, 28 May 2025 | ฿1.0t | ฿818.6b | ฿50.2b | 11.1x | 20x | 1.2x |
| Fri, 25 Apr 2025 | ฿1.1t | ฿836.3b | ฿42.7b | 12x | 25.5x | 1.3x |
| Sun, 23 Mar 2025 | ฿1.1t | ฿836.3b | ฿42.7b | 12x | 26.4x | 1.4x |
| Tue, 18 Feb 2025 | ฿1.2t | ฿808.8b | ฿46.2b | 11.2x | 26.5x | 1.5x |
| Thu, 16 Jan 2025 | ฿1.4t | ฿798.9b | ฿37.6b | 12.5x | 38.4x | 1.8x |
| Sat, 14 Dec 2024 | ฿1.6t | ฿796.0b | ฿37.3b | 14.5x | 42.2x | 2x |
| Mon, 11 Nov 2024 | ฿1.6t | ฿819.3b | ฿32.9b | 14.8x | 48.5x | 1.9x |
| Wed, 09 Oct 2024 | ฿1.6t | ฿781.3b | ฿36.7b | 15.9x | 44.6x | 2.1x |
| Fri, 06 Sep 2024 | ฿1.6t | ฿781.4b | ฿36.7b | 15.6x | 43.2x | 2x |
| Sun, 04 Aug 2024 | ฿1.5t | ฿772.2b | ฿32.3b | 14.1x | 45.6x | 1.9x |
| Tue, 02 Jul 2024 | ฿1.5t | ฿774.5b | ฿32.3b | 14.9x | 46.9x | 2x |
| Thu, 30 May 2024 | ฿1.7t | ฿777.2b | ฿34.8b | 15.3x | 47.8x | 2.1x |
| Sat, 27 Apr 2024 | ฿1.7t | ฿755.7b | ฿26.1b | 16.4x | 63.6x | 2.2x |
| Mon, 25 Mar 2024 | ฿1.7t | ฿762.8b | ฿25.5b | 17.3x | 66.3x | 2.2x |
| Wed, 21 Feb 2024 | ฿1.7t | ฿749.9b | ฿29.9b | 17.1x | 55.8x | 2.2x |
| Fri, 19 Jan 2024 | ฿1.6t | ฿762.1b | ฿31.2b | 16.6x | 52.8x | 2.2x |
| Sun, 17 Dec 2023 | ฿1.6t | ฿726.9b | ฿30.5b | 14.9x | 52.7x | 2.2x |
| Tue, 14 Nov 2023 | ฿1.7t | ฿707.7b | ฿22.4b | 14.5x | 75.7x | 2.4x |
| Thu, 12 Oct 2023 | ฿1.8t | ฿717.6b | ฿29.1b | 15.8x | 60.4x | 2.5x |
| Sat, 09 Sep 2023 | ฿1.8t | ฿713.5b | ฿28.7b | 16.8x | 64.3x | 2.6x |
| Mon, 07 Aug 2023 | ฿1.8t | ฿706.2b | ฿25.3b | 16.3x | 72.9x | 2.6x |
| Wed, 05 Jul 2023 | ฿1.9t | ฿702.4b | ฿26.4b | 16.3x | 70.2x | 2.6x |
| Fri, 02 Jun 2023 | ฿1.8t | ฿734.4b | ฿30.0b | 16.7x | 61.2x | 2.5x |
| Sun, 30 Apr 2023 | ฿2.0t | ฿724.0b | ฿30.9b | 19.4x | 63.4x | 2.7x |
| Tue, 28 Mar 2023 | ฿2.0t | ฿723.9b | ฿30.9b | 19.5x | 63.6x | 2.7x |
Price to Earnings Ratio
63.6x
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 15.6x which is lower than its 3-year average PE of 44.7x.
- The 3-year average PS ratio of 1.9x 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 40% per year over the last three years.
- Revenues for these companies have grown 6.9% 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 | 1.67% | |
| Industrials | -0.041% | |
| Marine and Shipping | 6.74% | |
| Electrical | 1.67% | |
| Airlines | 1.41% | |
| Trade Distributors | 0.99% | |
| Logistics | 0.88% | |
| Machinery | 0.75% | |
| Industrials | 0.63% | |
| Infrastructure | -0.50% | |
| Building | -1.00% | |
| Professional Services | -1.00% | |
| Construction | -1.47% | |
| Transportation | -1.90% | |
| Commercial Services | -2.59% | |
Industry PE
- Investors are most optimistic about the Machinery industry which is trading above its 3-year average PE ratio of 18.1x.
- 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 64% over the next 5 years.
- This is better than its past earnings growth rate of 3.9% per year.
- In contrast, the Construction industry is expected to see its earnings decline by 9.5% 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 | |
|---|---|---|---|---|---|
| THAI Thai Airways International | ฿6.35 | 2.4% +฿4.2b | n/a | PE5.8x | |
| RCL Regional Container Lines | ฿31.50 | 6.8% +฿1.7b | 33.5% | PE3.2x | |
| PSL Precious Shipping | ฿7.05 | 4.4% +฿445.4m | 5.2% | PE25.3x | |
| SJWD SCGJWD Logistics | ฿7.60 | 3.4% +฿444.1m | 5.6% | PE11.5x | |
| BIOTEC Bio Green Energy Tech | ฿0.32 | 77.8% +฿427.5m | 60.0% | PE34.2x |