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Thai (SET) Infrastructure Industry Analysis
UpdatedApr 15, 2025
DataAggregated Company Financials
Companies8
- 7D1.7%
- 3M-31.5%
- 1Y-42.2%
- YTD-34.6%
In the last week, the Infrastructure industry is up 1.7%, with Airports of Thailand up 1.3%. Meanwhile, Bangkok Aviation Fuel Services actually underperformed within the industry, shrinking 9.1% in the last week. In contrast, the industry has lost 42% in the last 12 months. As for the next few years, earnings are expected to grow by 13% per annum.
Industry Valuation and Performance
Has the Thai Infrastructure Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 15 Apr 2025 | ฿652.1b | ฿97.4b | ฿25.6b | 22.1x | 25.5x | 6.7x |
| Thu, 13 Mar 2025 | ฿683.0b | ฿97.4b | ฿25.6b | 22.5x | 26.7x | 7x |
| Sat, 08 Feb 2025 | ฿934.5b | ฿95.5b | ฿24.8b | 26.9x | 37.7x | 9.8x |
| Mon, 06 Jan 2025 | ฿990.9b | ฿95.5b | ฿24.8b | 30.1x | 39.9x | 10.4x |
| Wed, 04 Dec 2024 | ฿1.0t | ฿95.5b | ฿24.8b | 31.8x | 41.8x | 10.9x |
| Fri, 01 Nov 2024 | ฿1.0t | ฿94.1b | ฿24.1b | 28.7x | 43.2x | 11.1x |
| Sun, 29 Sep 2024 | ฿1.1t | ฿94.1b | ฿24.1b | 32.8x | 44.8x | 11.5x |
| Tue, 27 Aug 2024 | ฿1.0t | ฿94.1b | ฿24.1b | 32.4x | 42.8x | 10.9x |
| Thu, 25 Jul 2024 | ฿984.5b | ฿90.2b | ฿22.5b | 33.5x | 43.8x | 10.9x |
| Sat, 22 Jun 2024 | ฿1.0t | ฿90.2b | ฿22.5b | 33x | 45.6x | 11.4x |
| Mon, 20 May 2024 | ฿1.1t | ฿92.7b | ฿24.7b | 14.6x | 45.7x | 12.2x |
| Wed, 17 Apr 2024 | ฿1.1t | ฿82.6b | ฿18.3b | 25.2x | 61.7x | 13.7x |
| Fri, 15 Mar 2024 | ฿1.1t | ฿82.6b | ฿18.3b | 25.3x | 61.5x | 13.6x |
| Sun, 11 Feb 2024 | ฿1.1t | ฿74.7b | ฿13.8b | 35.1x | 78.6x | 14.5x |
| Tue, 09 Jan 2024 | ฿1.1t | ฿74.7b | ฿13.8b | 37.9x | 77.8x | 14.3x |
| Thu, 07 Dec 2023 | ฿1.0t | ฿74.7b | ฿13.8b | 34.4x | 74.6x | 13.7x |
| Sat, 04 Nov 2023 | ฿1.2t | ฿65.1b | ฿8.7b | 26.8x | 131.9x | 17.7x |
| Mon, 02 Oct 2023 | ฿1.2t | ฿64.9b | ฿8.7b | 28x | 135.3x | 18.1x |
| Wed, 30 Aug 2023 | ฿1.2t | ฿61.2b | ฿7.6b | 15.8x | 161.1x | 20x |
| Fri, 28 Jul 2023 | ฿1.2t | ฿52.4b | ฿1.9b | 16.1x | 628.2x | 22.8x |
| Sun, 25 Jun 2023 | ฿1.2t | ฿52.4b | ฿1.9b | 16.2x | 624.7x | 22.7x |
| Tue, 23 May 2023 | ฿1.2t | ฿55.0b | ฿2.5b | 27.6x | 465.1x | 21.3x |
| Thu, 20 Apr 2023 | ฿1.2t | ฿45.7b | -฿3,316,942,701.00 | 38.2x | -368.3x | 26.7x |
| Sat, 18 Mar 2023 | ฿1.2t | ฿45.7b | -฿3,316,942,701.00 | 18.8x | -355.2x | 25.8x |
| Mon, 13 Feb 2023 | ฿1.2t | ฿37.2b | -฿8,354,772,252.00 | 24.4x | -147.6x | 33.2x |
| Wed, 11 Jan 2023 | ฿1.3t | ฿37.2b | -฿8,354,772,252.00 | 23.3x | -151.2x | 34x |
| Fri, 09 Dec 2022 | ฿1.2t | ฿37.2b | -฿8,354,772,252.00 | 22.1x | -148.8x | 33.4x |
| Sun, 06 Nov 2022 | ฿1.2t | ฿30.1b | -฿13,279,692,820.00 | 25.2x | -93.8x | 41.4x |
| Tue, 04 Oct 2022 | ฿1.2t | ฿30.1b | -฿13,279,692,820.00 | 24.8x | -90.4x | 39.9x |
| Thu, 01 Sep 2022 | ฿1.2t | ฿30.1b | -฿13,279,692,820.00 | 26.4x | -91.2x | 40.3x |
| Sat, 30 Jul 2022 | ฿1.2t | ฿25.8b | -฿15,735,045,624.00 | 31.2x | -74.6x | 45.4x |
| Mon, 27 Jun 2022 | ฿1.2t | ฿25.8b | -฿15,735,045,624.00 | 32.7x | -74.3x | 45.3x |
| Wed, 25 May 2022 | ฿1.2t | ฿25.7b | -฿15,735,045,624.00 | 31.8x | -73.8x | 45.1x |
| Fri, 22 Apr 2022 | ฿1.1t | ฿24.3b | -฿16,122,295,101.00 | 31x | -70.7x | 47x |
Price to Earnings Ratio
-70.7x
Current Industry PE
- Investors are relatively neutral on the Thai Infrastructure 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 28.2x.
- The 3-year average PS ratio of 22.4x is higher than the industry's current PS ratio of 6.7x.
Past Earnings Growth
- Total earnings for the Infrastructure industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 59% per year.
- This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.
Industry Trends
Which industries have driven the changes within the Thai Industrials industry?
| TH Market | 0.32% | |
| Industrials | -0.50% | |
| Infrastructure | 1.67% | |
| Highways and Railtracks | 5.06% | |
| Airport Services | 1.17% | |
| Marine Ports and Services | -3.73% | |
Industry PE
- Investors are most optimistic about the Airport Services industry which is trading above its 3-year average PE ratio.
- Analysts are expecting annual earnings growth of 13.9%, which is lower than the prior year's growth of 62.2% per year.
- Investors are most pessimistic about the Marine Ports and Services industry, which is trading below its 3-year average of 19.2x.
Forecasted Growth
- Analysts are most optimistic on the Airport Services industry, expecting annual earnings growth of 14% over the next 5 years.
- However this is lower than its past earnings growth rate of 62% per year.
- In contrast, the Marine Ports and Services industry is expected to see its earnings growth to stay flat 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 | |
|---|---|---|---|---|---|
| AOT Airports of Thailand | ฿37.75 | 1.3% +฿7.1b | -43.4% | PE27x | |
| BEM Bangkok Expressway and Metro | ฿5.55 | 5.7% +฿4.5b | -33.5% | PE22.1x | |
| DMT Don Muang Tollway | ฿9.70 | 0.5% +฿59.1m | -18.5% | PE12.8x |