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Thai (SET) Infrastructure Industry Analysis
UpdatedJul 14, 2025
DataAggregated Company Financials
Companies8
- 7D5.4%
- 3M-14.2%
- 1Y-44.1%
- YTD-43.9%
The Infrastructure industry is up 5.4% in the last week, with Airports of Thailand up 5.0%. However, the industry is down 44% over the past year. Looking forward, earnings are expected to remain mostly flat in the next few years.
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 |
|---|---|---|---|---|---|---|
| Mon, 14 Jul 2025 | ฿559.6b | ฿97.4b | ฿24.9b | 18.6x | 22.4x | 5.7x |
| Wed, 11 Jun 2025 | ฿561.7b | ฿97.4b | ฿24.9b | 19.4x | 22.5x | 5.8x |
| Fri, 09 May 2025 | ฿671.1b | ฿97.4b | ฿25.6b | 23.9x | 26.2x | 6.9x |
| Sun, 06 Apr 2025 | ฿641.4b | ฿97.4b | ฿25.6b | 20.9x | 25.1x | 6.6x |
| Tue, 04 Mar 2025 | ฿729.9b | ฿97.8b | ฿25.6b | 24.6x | 28.5x | 7.5x |
| Thu, 30 Jan 2025 | ฿941.2b | ฿95.5b | ฿24.8b | 28.2x | 37.9x | 9.9x |
| Sat, 28 Dec 2024 | ฿997.8b | ฿95.5b | ฿24.8b | 29.3x | 40.2x | 10.4x |
| Mon, 25 Nov 2024 | ฿1.0t | ฿75.7b | ฿14.9b | 33.1x | 69.4x | 13.6x |
| Wed, 23 Oct 2024 | ฿1.1t | ฿94.1b | ฿24.1b | 29x | 44.2x | 11.3x |
| Fri, 20 Sep 2024 | ฿1.1t | ฿94.1b | ฿24.1b | 32.9x | 44.9x | 11.5x |
| Sun, 18 Aug 2024 | ฿966.8b | ฿84.1b | ฿14.1b | 32.1x | 68.7x | 11.5x |
| Tue, 16 Jul 2024 | ฿1.0t | ฿90.2b | ฿22.5b | 32.9x | 44.5x | 11.1x |
| Thu, 13 Jun 2024 | ฿1.0t | ฿90.2b | ฿22.5b | 34.3x | 45.7x | 11.4x |
| Sat, 11 May 2024 | ฿1.1t | ฿85.4b | ฿20.7b | 12.2x | 54.4x | 13.2x |
| Mon, 08 Apr 2024 | ฿1.1t | ฿82.6b | ฿18.3b | 24.8x | 60.5x | 13.4x |
| Wed, 06 Mar 2024 | ฿1.1t | ฿82.8b | ฿18.3b | 24.9x | 59.6x | 13.2x |
| Fri, 02 Feb 2024 | ฿1.0t | ฿74.7b | ฿13.8b | 34.9x | 75.7x | 14x |
| Sun, 31 Dec 2023 | ฿1.0t | ฿74.7b | ฿13.8b | 37.7x | 74.3x | 13.7x |
| Tue, 28 Nov 2023 | ฿1.0t | ฿74.7b | ฿13.8b | 35.8x | 75.3x | 13.9x |
| Thu, 26 Oct 2023 | ฿1.1t | ฿65.1b | ฿8.7b | 27.3x | 128.7x | 17.3x |
| Sat, 23 Sep 2023 | ฿1.2t | ฿63.7b | ฿8.5b | 15.8x | 139.4x | 18.5x |
| Mon, 21 Aug 2023 | ฿1.2t | ฿61.2b | ฿7.6b | 16.2x | 156.4x | 19.4x |
| Wed, 19 Jul 2023 | ฿1.2t | ฿52.4b | ฿1.9b | 17.6x | 627x | 22.8x |
| Fri, 16 Jun 2023 | ฿1.2t | ฿52.4b | ฿1.9b | 16.6x | 625.3x | 22.7x |
| Sun, 14 May 2023 | ฿1.2t | ฿45.8b | -฿3,265,387,701.00 | 37.7x | -376.6x | 26.9x |
| Tue, 11 Apr 2023 | ฿1.2t | ฿45.7b | -฿3,316,942,701.00 | 20x | -364.3x | 26.4x |
| Thu, 09 Mar 2023 | ฿1.2t | ฿45.5b | -฿3,528,128,018.00 | 20.8x | -334.5x | 25.9x |
| Sat, 04 Feb 2023 | ฿1.2t | ฿37.2b | -฿8,354,772,252.00 | 23.7x | -149.2x | 33.5x |
| Mon, 02 Jan 2023 | ฿1.3t | ฿37.2b | -฿8,354,772,252.00 | 22.4x | -151x | 33.9x |
| Wed, 30 Nov 2022 | ฿1.2t | ฿37.2b | -฿8,354,772,252.00 | 22.8x | -149.1x | 33.5x |
| Fri, 28 Oct 2022 | ฿1.2t | ฿30.1b | -฿13,279,692,820.00 | 25.2x | -93x | 41.1x |
| Sun, 25 Sep 2022 | ฿1.2t | ฿30.1b | -฿13,279,692,820.00 | 27x | -93.2x | 41.2x |
| Tue, 23 Aug 2022 | ฿1.2t | ฿30.1b | -฿13,279,692,820.00 | 24.8x | -89.6x | 39.6x |
| Thu, 21 Jul 2022 | ฿1.2t | ฿25.8b | -฿15,735,045,624.00 | 30.6x | -74.3x | 45.2x |
Price to Earnings Ratio
-74.3x
Current Industry PE
- Investors are pessimistic on the Thai Infrastructure 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 22.4x which is lower than its 3-year average PE of 36.1x.
- The 3-year average PS ratio of 19.2x is higher than the industry's current PS ratio of 5.7x.
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 56% 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 | 0.12% | |
| Industrials | 3.56% | |
| Infrastructure | 5.37% | |
| Highways and Railtracks | 6.59% | |
| Airport Services | 5.19% | |
| Marine Ports and Services | 0.83% | |
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 decline of 0.3%, which is lower than the prior year's growth of 33.1% per year.
- Investors are most pessimistic about the Marine Ports and Services industry, which is trading below its 3-year average of 17.9x.
Forecasted Growth
- Analysts are most optimistic on the Highways and Railtracks industry, expecting annual earnings growth of 5.0% over the next 5 years.
- This is better than its past earnings decline of 2.5% per year.
- In contrast, the Airport 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 | ฿31.75 | 5.0% +฿21.4b | -46.0% | PE23.6x | |
| BEM Bangkok Expressway and Metro | ฿5.10 | 7.6% +฿5.4b | -34.6% | PE20.1x | |
| SAV Samart Aviation Solutions | ฿13.70 | 22.3% +฿1.6b | -44.1% | PE17.1x | |
| PORT Sahathai Terminal | ฿0.83 | 20.3% +฿85.0m | -54.6% | PS0.3x | |
| DMT Don Muang Tollway | ฿10.00 | 0.5% +฿59.1m | -16.0% | PE13.1x |