Narrative Update • May 09
Have your own idea? Try our Stock Screener
Thai (SET) Materials Sector Analysis
UpdatedMay 12, 2026
DataAggregated Company Financials
Companies99
- 7D-2.2%
- 3M12.0%
- 1Y30.3%
- YTD28.3%
Over the last 7 days, the Materials industry has dropped 2.2%, driven by a pullback from Siam Cement of 4.2%. In contrast, Tata Steel (Thailand) has gained 31%. This takes the industry's 12 month performance to a gain of 30%. Looking forward, earnings are forecast to grow by 29% annually.
Sector Valuation and Performance
Has the Thai Materials Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 12 May 2026 | ฿973.9b | ฿2.1t | ฿26.9b | 9.8x | 36.2x | 0.5x |
| Thu, 09 Apr 2026 | ฿913.4b | ฿2.1t | ฿14.3b | 10x | 63.9x | 0.4x |
| Sat, 07 Mar 2026 | ฿798.3b | ฿2.1t | ฿14.9b | 10x | 53.5x | 0.4x |
| Mon, 02 Feb 2026 | ฿835.0b | ฿2.1t | ฿18.9b | 10.6x | 44.1x | 0.4x |
| Wed, 31 Dec 2025 | ฿745.8b | ฿2.1t | ฿20.6b | 10.3x | 36.2x | 0.3x |
| Fri, 28 Nov 2025 | ฿733.0b | ฿2.2t | ฿20.4b | 9.6x | 35.9x | 0.3x |
| Sun, 26 Oct 2025 | ฿832.1b | ฿2.2t | ฿4.0b | 10.1x | 205.7x | 0.4x |
| Tue, 23 Sep 2025 | ฿889.9b | ฿2.2t | ฿3.0b | 10.9x | 293.6x | 0.4x |
| Thu, 21 Aug 2025 | ฿856.8b | ฿2.2t | ฿3.1b | 10.7x | 278.7x | 0.4x |
| Sat, 19 Jul 2025 | ฿813.8b | ฿2.3t | -฿25,442,891,199.00 | 10.3x | -32x | 0.4x |
| Mon, 16 Jun 2025 | ฿753.8b | ฿2.3t | -฿25,726,335,199.00 | 10x | -29.3x | 0.3x |
| Wed, 14 May 2025 | ฿776.3b | ฿2.3t | -฿25,680,026,706.00 | 10.4x | -30.2x | 0.3x |
| Fri, 11 Apr 2025 | ฿679.6b | ฿2.3t | -฿20,346,950,970.00 | 9.3x | -33.4x | 0.3x |
| Sun, 09 Mar 2025 | ฿744.8b | ฿2.3t | -฿26,307,450,884.00 | 9.9x | -28.3x | 0.3x |
| Tue, 04 Feb 2025 | ฿780.7b | ฿2.4t | -฿26,238,424,785.00 | 10.8x | -29.8x | 0.3x |
| Thu, 02 Jan 2025 | ฿863.9b | ฿2.4t | -฿25,929,799,785.00 | 11.3x | -33.3x | 0.4x |
| Sat, 30 Nov 2024 | ฿903.6b | ฿2.4t | -฿25,915,718,631.00 | 11.5x | -34.9x | 0.4x |
| Mon, 28 Oct 2024 | ฿963.5b | ฿2.4t | ฿6.3b | 11.9x | 153.3x | 0.4x |
| Wed, 25 Sep 2024 | ฿1.1t | ฿2.3t | ฿5.7b | 12.5x | 184.7x | 0.5x |
| Fri, 23 Aug 2024 | ฿913.7b | ฿2.4t | ฿6.5b | 11.4x | 140.9x | 0.4x |
| Sun, 21 Jul 2024 | ฿971.2b | ฿2.3t | ฿27.9b | 11.9x | 34.8x | 0.4x |
| Tue, 18 Jun 2024 | ฿1.0t | ฿2.3t | ฿27.9b | 12.3x | 36.4x | 0.4x |
| Thu, 16 May 2024 | ฿1.1t | ฿2.3t | ฿30.2b | 14.1x | 36.7x | 0.5x |
| Sat, 13 Apr 2024 | ฿1.2t | ฿2.3t | ฿44.5b | 13.9x | 25.9x | 0.5x |
| Mon, 11 Mar 2024 | ฿1.1t | ฿2.3t | ฿45.2b | 14.3x | 24.9x | 0.5x |
| Wed, 07 Feb 2024 | ฿1.1t | ฿2.3t | ฿32.7b | 14.2x | 35x | 0.5x |
| Fri, 05 Jan 2024 | ฿1.3t | ฿2.3t | ฿33.8b | 14.4x | 37.1x | 0.5x |
| Sun, 03 Dec 2023 | ฿1.2t | ฿2.3t | ฿33.8b | 14.1x | 35.9x | 0.5x |
| Tue, 31 Oct 2023 | ฿1.2t | ฿2.4t | ฿28.4b | 14.1x | 41.9x | 0.5x |
| Thu, 28 Sep 2023 | ฿1.3t | ฿2.4t | ฿29.3b | 15.3x | 43x | 0.5x |
| Sat, 26 Aug 2023 | ฿1.3t | ฿2.4t | ฿28.9b | 16.2x | 45.4x | 0.5x |
| Mon, 24 Jul 2023 | ฿1.3t | ฿2.6t | ฿64.3b | 15.4x | 20.7x | 0.5x |
| Wed, 21 Jun 2023 | ฿1.4t | ฿2.6t | ฿64.8b | 15.4x | 21.3x | 0.5x |
| Fri, 19 May 2023 | ฿1.4t | ฿2.6t | ฿66.8b | 17.1x | 20.8x | 0.5x |
Price to Earnings Ratio
20.8x
Current Industry PE
- Investors are pessimistic on the Thai Materials 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 36.3x which is lower than its 3-year average PE of 51.8x.
- The industry is trading close to its 3-year average PS ratio of 0.42x.
Past Earnings Growth
- The earnings for companies in the Materials industry have declined 26% per year over the last three years,
- Revenues have also declined 7.1% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Trends
Which industries have driven the changes within the Thai Materials sector?
| TH Market | -0.30% | |
| Materials | -2.23% | |
| Metals and Mining | 10.44% | |
| Packaging | -1.69% | |
| Chemicals | -2.80% | |
| Basic Materials | -3.18% | |
Industry PE
- Investors are most optimistic about the Metals and Mining industry which is trading above its 3-year average PE ratio.
- 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 Chemicals industry, expecting annual earnings growth of 64% over the next 5 years.
- This is better than its past earnings growth rate of 20% per year.
- In contrast, the Basic Materials 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 | |
|---|---|---|---|---|---|
| TSTH Tata Steel (Thailand) | ฿0.98 | 30.7% +฿1.9b | 42.0% | PE4.3x | |
| STPI STP&I | ฿4.60 | 14.4% +฿1.1b | 70.4% | PE42.7x | |
| SCCC Siam City Cement | ฿141.00 | 1.1% +฿447.0m | -6.9% | PE10.9x | |
| INOX POSCO-Thainox | ฿0.48 | 11.6% +฿389.8m | 14.3% | PS0.3x | |
| TMT TMT Steel | ฿3.84 | 11.0% +฿330.9m | 15.7% | PE33.5x |
