Narrative Update • Jul 07
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Thai (SET) Transportation Industry Analysis
UpdatedJul 15, 2026
DataAggregated Company Financials
Companies9
- 7D5.8%
- 3M8.5%
- 1Y-28.1%
- YTD1.4%
In the last week, the Transportation industry is up 5.8%, with BTS Group Holdings up 5.8%. In contrast, the industry has lost 28% in the last 12 months. As for the next few years, earnings are expected to grow by 27% per annum.
Industry Valuation and Performance
Has the Thai Transportation Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 15 Jul 2026 | ฿46.2b | ฿41.9b | -฿793,038,831.00 | 10.4x | -58.2x | 1.1x |
| Fri, 12 Jun 2026 | ฿42.9b | ฿41.9b | -฿793,038,832.00 | 10.1x | -54x | 1x |
| Sun, 10 May 2026 | ฿41.7b | ฿41.4b | -฿668,039,656.00 | 9.6x | -62.5x | 1x |
| Tue, 07 Apr 2026 | ฿42.0b | ฿41.4b | -฿668,039,656.00 | 10x | -62.9x | 1x |
| Thu, 05 Mar 2026 | ฿41.6b | ฿41.4b | -฿733,821,111.00 | 10x | -56.7x | 1x |
| Sat, 31 Jan 2026 | ฿43.4b | ฿40.4b | ฿2.9b | 10.3x | 14.7x | 1.1x |
| Mon, 29 Dec 2025 | ฿44.2b | ฿40.4b | ฿2.9b | 10x | 15x | 1.1x |
| Wed, 26 Nov 2025 | ฿47.7b | ฿43.9b | ฿3.0b | 10.3x | 15.7x | 1.1x |
| Fri, 24 Oct 2025 | ฿54.4b | ฿37.0b | ฿2.3b | 9.9x | 23.4x | 1.5x |
| Sun, 21 Sep 2025 | ฿59.4b | ฿37.0b | ฿2.3b | 10.7x | 25.6x | 1.6x |
| Tue, 19 Aug 2025 | ฿61.3b | ฿37.0b | ฿2.3b | 10.3x | 26.4x | 1.7x |
| Thu, 17 Jul 2025 | ฿63.2b | ฿34.3b | ฿2.2b | 10.4x | 28.8x | 1.8x |
| Sat, 14 Jun 2025 | ฿74.4b | ฿33.5b | ฿2.4b | 10.3x | 31x | 2.2x |
| Mon, 12 May 2025 | ฿87.9b | ฿61.4b | ฿3.1b | 12.2x | 28.3x | 1.4x |
| Wed, 09 Apr 2025 | ฿84.6b | ฿61.3b | ฿3.1b | 12.1x | 27.3x | 1.4x |
| Fri, 07 Mar 2025 | ฿111.0b | ฿61.3b | ฿3.1b | 13.5x | 35.9x | 1.8x |
| Sun, 02 Feb 2025 | ฿113.3b | ฿59.9b | -฿4,830,363,708.00 | 12.4x | -23.5x | 1.9x |
| Tue, 31 Dec 2024 | ฿95.2b | ฿57.1b | -฿5,219,669,256.00 | 13.2x | -18.2x | 1.7x |
| Thu, 28 Nov 2024 | ฿87.3b | ฿57.1b | -฿5,219,669,256.00 | 13.7x | -16.7x | 1.5x |
| Sat, 26 Oct 2024 | ฿75.0b | ฿57.2b | -฿4,703,001,754.00 | 14.5x | -16x | 1.3x |
| Mon, 23 Sep 2024 | ฿68.8b | ฿31.1b | -฿4,754,073,638.00 | 13.8x | -14.5x | 2.2x |
| Wed, 21 Aug 2024 | ฿61.8b | ฿31.1b | -฿4,754,073,638.00 | 12.5x | -13x | 2x |
| Fri, 19 Jul 2024 | ฿61.1b | ฿31.8b | -฿5,098,985,636.00 | 10.9x | -12x | 1.9x |
| Sun, 16 Jun 2024 | ฿67.4b | ฿31.8b | -฿5,098,985,636.00 | 11.2x | -13.2x | 2.1x |
| Tue, 14 May 2024 | ฿87.6b | ฿29.6b | -฿5,363,764,578.00 | 14.3x | -16.3x | 3x |
| Thu, 11 Apr 2024 | ฿89.7b | ฿29.7b | -฿5,308,282,876.00 | 13.6x | -16.9x | 3x |
| Sat, 09 Mar 2024 | ฿75.4b | ฿29.7b | -฿5,308,282,876.00 | 14.3x | -14.2x | 2.5x |
| Mon, 05 Feb 2024 | ฿86.2b | ฿29.7b | ฿752.2m | 17.7x | 114.6x | 2.9x |
| Wed, 03 Jan 2024 | ฿106.1b | ฿29.7b | ฿752.2m | 17.2x | 141x | 3.6x |
| Fri, 01 Dec 2023 | ฿103.7b | ฿29.7b | ฿752.2m | 16.8x | 137.9x | 3.5x |
| Sun, 29 Oct 2023 | ฿105.4b | ฿30.4b | ฿1.1b | 13.9x | 92.3x | 3.5x |
| Tue, 26 Sep 2023 | ฿106.9b | ฿30.4b | ฿1.1b | 15.5x | 93.6x | 3.5x |
| Thu, 24 Aug 2023 | ฿106.1b | ฿30.4b | ฿1.1b | 16.2x | 93x | 3.5x |
| Sat, 22 Jul 2023 | ฿109.4b | ฿29.4b | ฿2.4b | 15.9x | 44.7x | 3.7x |
Price to Earnings Ratio
44.7x
Current Industry PE
- Investors are pessimistic on the Thai Transportation industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The 3-year average PS ratio of 2.0x is higher than the industry's current PS ratio of 1.1x.
Past Earnings Growth
- Total earnings for the Transportation industry have declined over the last three years, with the industry now making a loss overall.
- Meanwhile revenues have grown 12% per year.
- This means that although more sales are being generated, 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 | 1.39% | |
| Industrials | -1.06% | |
| Transportation | 5.78% | |
| Railroads | 6.73% | |
| Trucking | 3.25% | |
| Cargo Ground Transportation | 0.61% | |
Industry PE
- Investors are most optimistic about the Trucking industry which is trading above its 3-year average PE ratio.
- Analysts expect its future annual earnings growth (15.5%) to be largely in line with prior year's earnings growth.
Forecasted Growth
- Analysts are most optimistic on the Railroads industry, expecting annual earnings growth of 28% over the next 5 years.
- In contrast, the Trucking industry is expected to see its earnings grow by 16% 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 | ฿2.18 | 5.8% +฿1.9b | -37.7% | PS1.5x | |
| ASAP Synergetic Auto Performance | ฿2.20 | 10.0% +฿145.2m | 63.0% | PE43.6x | |
| KGEN King Gen | ฿1.88 | 3.3% +฿123.9m | 193.8% | PS5.4x | |
| MPJ MPJ Logistics | ฿3.80 | 4.4% +฿32.0m | 16.6% | PE7.3x | |
| PL Phatra Leasing | ฿1.35 | 3.1% +฿23.9m | 11.6% | PE12.7x |