Thai (SET) Building Industry Analysis

Industry Valuation and Performance

Has the Thai Building Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Wed, 22 Jul 2026	฿33.2b	฿48.8b	฿1.7b	13.9x	19.5x	0.7x
Fri, 19 Jun 2026	฿31.3b	฿49.4b	฿1.9b	13.9x	16.4x	0.6x
Sun, 17 May 2026	฿31.0b	฿49.5b	฿1.7b	10.4x	18.1x	0.6x
Tue, 14 Apr 2026	฿30.6b	฿50.3b	฿1.7b	10.9x	17.5x	0.6x
Thu, 12 Mar 2026	฿30.6b	฿50.3b	฿1.7b	11.9x	17.5x	0.6x
Sat, 07 Feb 2026	฿30.7b	฿51.9b	฿2.2b	9.8x	13.8x	0.6x
Mon, 05 Jan 2026	฿29.8b	฿52.5b	฿2.1b	10.2x	14.1x	0.6x
Wed, 03 Dec 2025	฿30.2b	฿52.5b	฿2.1b	10.2x	14.2x	0.6x
Fri, 31 Oct 2025	฿31.4b	฿54.0b	฿2.4b	10x	13.2x	0.6x
Sun, 28 Sep 2025	฿32.7b	฿54.6b	฿2.3b	11.5x	14.4x	0.6x
Tue, 26 Aug 2025	฿31.8b	฿54.6b	฿2.3b	11x	14x	0.6x
Thu, 24 Jul 2025	฿30.6b	฿56.1b	฿2.6b	11.5x	11.8x	0.5x
Sat, 21 Jun 2025	฿29.8b	฿56.1b	฿2.6b	11.1x	11.5x	0.5x
Mon, 19 May 2025	฿32.7b	฿56.2b	฿2.7b	11.9x	12.2x	0.6x
Wed, 16 Apr 2025	฿30.4b	฿57.4b	฿2.8b	10.9x	10.8x	0.5x
Fri, 14 Mar 2025	฿30.4b	฿57.4b	฿2.8b	11x	10.8x	0.5x
Sun, 09 Feb 2025	฿32.9b	฿57.4b	฿2.9b	13x	11.3x	0.6x
Tue, 07 Jan 2025	฿36.4b	฿58.3b	฿3.0b	14.2x	12.2x	0.6x
Thu, 05 Dec 2024	฿39.3b	฿58.3b	฿3.0b	15.2x	13.2x	0.7x
Sat, 02 Nov 2024	฿42.0b	฿58.0b	฿3.0b	16.3x	14x	0.7x
Mon, 30 Sep 2024	฿46.2b	฿58.9b	฿3.0b	17.6x	15.2x	0.8x
Wed, 28 Aug 2024	฿44.5b	฿58.9b	฿3.0b	16.8x	14.7x	0.8x
Fri, 26 Jul 2024	฿44.6b	฿59.8b	฿2.9b	16.7x	15.2x	0.7x
Sun, 23 Jun 2024	฿44.7b	฿60.2b	฿2.8b	18.6x	16.1x	0.7x
Tue, 21 May 2024	฿46.5b	฿60.3b	฿2.7b	18.6x	17.1x	0.8x
Thu, 18 Apr 2024	฿43.4b	฿61.4b	฿1.8b	23.8x	23.6x	0.7x
Sat, 16 Mar 2024	฿45.4b	฿61.4b	฿1.8b	28.9x	24.7x	0.7x
Mon, 12 Feb 2024	฿47.4b	฿60.3b	฿1.6b	15.8x	30x	0.8x
Wed, 10 Jan 2024	฿52.4b	฿75.1b	฿362.0m	11.6x	144.8x	0.7x
Fri, 08 Dec 2023	฿35.1b	฿45.6b	฿1.2b	11.2x	30.4x	0.8x
Sun, 05 Nov 2023	฿40.6b	฿45.5b	฿1.3b	11.2x	31.4x	0.9x
Tue, 03 Oct 2023	฿41.2b	฿45.4b	฿1.2b	12.1x	33.9x	0.9x
Thu, 31 Aug 2023	฿45.1b	฿45.4b	฿1.2b	14x	37.1x	1x
Sat, 29 Jul 2023	฿45.4b	฿46.1b	฿1.9b	12.6x	23.5x	1x

Current Industry PE

Investors are relatively neutral on the Thai Building industry at the moment, indicating that they anticipate long term growth rates to remain steady.

The industry is trading close to its 3-year average PE ratio of 20.9x.

The industry is trading close to its 3-year average PS ratio of 0.68x.

Past Earnings Growth

The earnings for companies in the Building industry have declined 4.1% 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 Industrials industry?


TH Market	1.64%
Industrials	2.29%
Building	-0.23%
Building Products	-0.23%

Industry PEThere are no additional sub-industries under this industry.

Forecasted GrowthThere are no additional sub-industries under this industry.

	Company	Last Price	7D	1Y	Valuation
	VNG Vanachai Group	฿2.16	8.0% +฿277.6m	10.2%	PS0.3x
	SKN S.Kijchai Enterprise	฿5.30	1.0% +฿40.0m	-5.4%	PE13.8x

Company

Last Price

Valuation

VNG Vanachai Group

฿2.16

8.0%
+฿277.6m

10.2%

PS0.3x

SKN S.Kijchai Enterprise

฿5.30

1.0%
+฿40.0m

-5.4%

PE13.8x

New major risk - Revenue and earnings growth

Earnings have declined by 3.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 3.6% per year over the past 5 years. High level of non-cash earnings (38% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (11% net profit margin).

Thai (SET) Building Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Scg Decor Public Company Limited Announces Interim Dividend for the Operating Period from 01 January 2026 to 30 June 2026, Payable on 19 August 2026

Investor sentiment improves as stock rises 16%

New minor risk - Market cap size

New major risk - Revenue and earnings growth

New minor risk - Earnings quality

First quarter 2026 earnings released: EPS: ฿0.013 (vs ฿0.015 in 1Q 2025)

Dividend of ฿0.02 announced

New major risk - Revenue and earnings growth