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Thai (SET) Materials Sector Analysis
UpdatedNov 20, 2025
DataAggregated Company Financials
Companies100
- 7D-2.7%
- 3M-17.3%
- 1Y-21.7%
- YTD-16.0%
The Materials industry is down 2.6% over the last week with Siam Cement the worst performer, down 2.1%. Overall the industry is down 21% in 12 months. As for the next few years, earnings are expected to grow by 33% per annum.
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 |
|---|---|---|---|---|---|---|
| Sat, 22 Nov 2025 | ฿740.9b | ฿2.2t | ฿20.4b | 9.3x | 36.3x | 0.3x |
| Mon, 20 Oct 2025 | ฿805.4b | ฿2.2t | ฿4.0b | 10.3x | 199.1x | 0.4x |
| Wed, 17 Sep 2025 | ฿909.1b | ฿2.2t | ฿3.0b | 11.2x | 300x | 0.4x |
| Fri, 15 Aug 2025 | ฿837.4b | ฿2.3t | -฿17,449,824,298.00 | 10.9x | -48x | 0.4x |
| Sun, 13 Jul 2025 | ฿770.6b | ฿2.3t | -฿25,726,335,199.00 | 10.1x | -30x | 0.3x |
| Tue, 10 Jun 2025 | ฿731.6b | ฿2.3t | -฿25,767,510,779.00 | 10.1x | -28.4x | 0.3x |
| Thu, 08 May 2025 | ฿752.8b | ฿2.3t | -฿22,655,478,130.00 | 9.4x | -33.2x | 0.3x |
| Sat, 05 Apr 2025 | ฿678.4b | ฿2.3t | -฿20,346,950,970.00 | 10x | -33.3x | 0.3x |
| Mon, 03 Mar 2025 | ฿687.5b | ฿2.3t | -฿25,422,492,350.00 | 9.9x | -27x | 0.3x |
| Wed, 29 Jan 2025 | ฿801.0b | ฿2.4t | -฿25,585,177,785.00 | 11x | -31.3x | 0.3x |
| Fri, 27 Dec 2024 | ฿866.2b | ฿2.4t | -฿25,929,799,785.00 | 11.3x | -33.4x | 0.4x |
| Sun, 24 Nov 2024 | ฿936.2b | ฿2.4t | -฿25,891,887,176.00 | 11.5x | -36.2x | 0.4x |
| Tue, 22 Oct 2024 | ฿985.4b | ฿2.4t | ฿6.5b | 12x | 152x | 0.4x |
| Thu, 19 Sep 2024 | ฿1.0t | ฿2.4t | ฿6.5b | 12x | 158.9x | 0.4x |
| Sat, 17 Aug 2024 | ฿886.0b | ฿2.4t | ฿6.5b | 10.8x | 136.6x | 0.4x |
| Mon, 15 Jul 2024 | ฿1.0t | ฿2.3t | ฿27.9b | 12.5x | 36.4x | 0.4x |
| Wed, 12 Jun 2024 | ฿1.0t | ฿2.3t | ฿27.9b | 12.7x | 37.6x | 0.4x |
| Fri, 10 May 2024 | ฿1.1t | ฿2.3t | ฿31.5b | 13.9x | 35.2x | 0.5x |
| Sun, 07 Apr 2024 | ฿1.1t | ฿2.3t | ฿44.5b | 13.6x | 25.3x | 0.5x |
| Tue, 05 Mar 2024 | ฿1.1t | ฿2.3t | ฿45.0b | 14x | 24.7x | 0.5x |
| Thu, 01 Feb 2024 | ฿1.1t | ฿2.3t | ฿33.3b | 14.4x | 34.2x | 0.5x |
| Sat, 30 Dec 2023 | ฿1.2t | ฿2.3t | ฿33.8b | 13.9x | 36.9x | 0.5x |
| Mon, 27 Nov 2023 | ฿1.2t | ฿2.3t | ฿33.8b | 14.2x | 35.9x | 0.5x |
| Wed, 25 Oct 2023 | ฿1.2t | ฿2.4t | ฿29.0b | 14.1x | 40.1x | 0.5x |
| Fri, 22 Sep 2023 | ฿1.3t | ฿2.4t | ฿29.3b | 15.1x | 43.3x | 0.5x |
| Sun, 20 Aug 2023 | ฿1.3t | ฿2.4t | ฿29.0b | 15.5x | 44.3x | 0.5x |
| Tue, 18 Jul 2023 | ฿1.4t | ฿2.6t | ฿64.8b | 14.8x | 20.9x | 0.5x |
| Thu, 15 Jun 2023 | ฿1.4t | ฿2.6t | ฿64.8b | 16.2x | 21.7x | 0.5x |
| Sat, 13 May 2023 | ฿1.4t | ฿2.6t | ฿70.3b | 15.7x | 20.2x | 0.5x |
| Mon, 10 Apr 2023 | ฿1.4t | ฿2.7t | ฿79.3b | 15.6x | 18x | 0.5x |
| Wed, 08 Mar 2023 | ฿1.5t | ฿2.7t | ฿87.8b | 16x | 17.4x | 0.6x |
| Fri, 03 Feb 2023 | ฿1.6t | ฿2.7t | ฿117.5b | 15.4x | 13.7x | 0.6x |
| Sun, 01 Jan 2023 | ฿1.6t | ฿2.7t | ฿126.4b | 14.9x | 12.7x | 0.6x |
| Tue, 29 Nov 2022 | ฿1.6t | ฿2.7t | ฿126.4b | 15.2x | 12.6x | 0.6x |
Price to Earnings Ratio
12.6x
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 46.8x.
- The industry is trading close to its 3-year average PS ratio of 0.45x.
Past Earnings Growth
- The earnings for companies in the Materials industry have declined 46% per year over the last three years,
- Revenues have also declined 7.3% 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 | -1.17% | |
| Materials | -2.71% | |
| Metals and Mining | -1.00% | |
| Basic Materials | -1.98% | |
| Packaging | -3.29% | |
| Chemicals | -3.55% | |
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 89% over the next 5 years.
- This is better than its past earnings growth rate of 13% per year.
- In contrast, the Basic Materials industry is expected to see its earnings decline by 7.6% 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 | |
|---|---|---|---|---|---|
| BCT Birla Carbon (Thailand) | ฿51.00 | 3.0% +฿450.0m | -25.8% | PE5x | |
| BGC BG Container Glass | ฿4.02 | 10.4% +฿263.9m | -46.8% | PE13.6x | |
| SFLEX Starflex | ฿2.90 | 11.5% +฿225.7m | -8.2% | PE8.5x | |
| PSP P.S.P. Specialties | ฿4.72 | 3.1% +฿196.0m | 7.8% | PE7.3x | |
| MILL Millcon Steel | ฿0.10 | 25.0% +฿174.3m | 0% | PS0.4x |