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Thai (SET) Materials Sector Analysis
UpdatedNov 14, 2025
DataAggregated Company Financials
Companies100
- 7D-2.4%
- 3M-9.6%
- 1Y-18.3%
- YTD-13.7%
Over the last 7 days, the Materials industry has dropped 2.4%, driven by Siam Cement declining 3.1%. Meanwhile, Tipco Asphalt actually outperformed within the industry, gaining 5.9% in the last week. The industry has fallen 18% in the last year. Earnings are forecast to grow by 33% 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 |
|---|---|---|---|---|---|---|
| Mon, 17 Nov 2025 | ฿762.5b | ฿2.2t | ฿17.6b | 11x | 43.4x | 0.4x |
| Wed, 15 Oct 2025 | ฿827.4b | ฿2.2t | ฿3.0b | 10.4x | 273.1x | 0.4x |
| Fri, 12 Sep 2025 | ฿903.2b | ฿2.2t | ฿3.0b | 10.8x | 298x | 0.4x |
| Sun, 10 Aug 2025 | ฿850.1b | ฿2.3t | -฿10,782,231,961.00 | 11x | -78.8x | 0.4x |
| Tue, 08 Jul 2025 | ฿760.2b | ฿2.3t | -฿25,726,335,199.00 | 10.3x | -29.6x | 0.3x |
| Thu, 05 Jun 2025 | ฿740.2b | ฿2.3t | -฿25,767,510,779.00 | 10.3x | -28.7x | 0.3x |
| Sat, 03 May 2025 | ฿718.5b | ฿2.3t | -฿21,218,377,130.00 | 9.3x | -33.9x | 0.3x |
| Mon, 31 Mar 2025 | ฿723.2b | ฿2.3t | -฿26,285,464,575.00 | 10.1x | -27.5x | 0.3x |
| Wed, 26 Feb 2025 | ฿721.4b | ฿2.3t | -฿40,704,454,768.00 | 10.2x | -17.7x | 0.3x |
| Fri, 24 Jan 2025 | ฿782.8b | ฿2.4t | -฿25,585,177,785.00 | 10.9x | -30.6x | 0.3x |
| Sun, 22 Dec 2024 | ฿852.1b | ฿2.4t | -฿25,929,799,785.00 | 11.1x | -32.9x | 0.4x |
| Tue, 19 Nov 2024 | ฿936.9b | ฿2.4t | -฿17,692,672,707.00 | 11.7x | -53x | 0.4x |
| Thu, 17 Oct 2024 | ฿1.0t | ฿2.4t | ฿6.5b | 12x | 155.2x | 0.4x |
| Sat, 14 Sep 2024 | ฿1.0t | ฿2.4t | ฿6.5b | 11.8x | 156.6x | 0.4x |
| Mon, 12 Aug 2024 | ฿870.6b | ฿2.4t | ฿8.3b | 10.9x | 104.5x | 0.4x |
| Wed, 10 Jul 2024 | ฿1.0t | ฿2.3t | ฿27.9b | 12.1x | 36.5x | 0.4x |
| Fri, 07 Jun 2024 | ฿1.1t | ฿2.3t | ฿27.9b | 12.9x | 38.2x | 0.5x |
| Sun, 05 May 2024 | ฿1.1t | ฿2.3t | ฿31.5b | 14.1x | 35.5x | 0.5x |
| Tue, 02 Apr 2024 | ฿1.1t | ฿2.3t | ฿44.5b | 14x | 25.3x | 0.5x |
| Thu, 29 Feb 2024 | ฿1.1t | ฿2.3t | ฿41.0b | 13.8x | 27.4x | 0.5x |
| Sat, 27 Jan 2024 | ฿1.1t | ฿2.3t | ฿33.3b | 14.1x | 34.5x | 0.5x |
| Mon, 25 Dec 2023 | ฿1.2t | ฿2.3t | ฿33.8b | 14.1x | 36.4x | 0.5x |
| Wed, 22 Nov 2023 | ฿1.2t | ฿2.4t | ฿34.3b | 14.2x | 36x | 0.5x |
| Fri, 20 Oct 2023 | ฿1.2t | ฿2.4t | ฿29.0b | 14.7x | 41x | 0.5x |
| Sun, 17 Sep 2023 | ฿1.3t | ฿2.4t | ฿29.3b | 16.2x | 44x | 0.5x |
| Tue, 15 Aug 2023 | ฿1.3t | ฿2.4t | ฿30.0b | 15.6x | 44.2x | 0.5x |
| Thu, 13 Jul 2023 | ฿1.3t | ฿2.6t | ฿64.8b | 14.8x | 20.6x | 0.5x |
| Sat, 10 Jun 2023 | ฿1.4t | ฿2.6t | ฿64.8b | 16.4x | 21.2x | 0.5x |
| Mon, 08 May 2023 | ฿1.4t | ฿2.6t | ฿86.4b | 14.9x | 16.3x | 0.5x |
| Wed, 05 Apr 2023 | ฿1.4t | ฿2.7t | ฿79.3b | 16x | 18.2x | 0.5x |
| Fri, 03 Mar 2023 | ฿1.5t | ฿2.7t | ฿90.1b | 15.5x | 17x | 0.6x |
| Sun, 29 Jan 2023 | ฿1.6t | ฿2.7t | ฿117.5b | 15.2x | 13.7x | 0.6x |
| Tue, 27 Dec 2022 | ฿1.6t | ฿2.7t | ฿126.2b | 14.9x | 12.4x | 0.6x |
| Thu, 24 Nov 2022 | ฿1.6t | ฿2.7t | ฿126.4b | 15x | 12.7x | 0.6x |
Price to Earnings Ratio
12.7x
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 43.4x which is lower than its 3-year average PE of 46.6x.
- 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 48% 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 | -2.59% | |
| Materials | -2.42% | |
| Metals and Mining | -1.84% | |
| Chemicals | -2.13% | |
| Basic Materials | -2.15% | |
| Packaging | -3.92% | |
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 7.9% 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 | |
|---|---|---|---|---|---|
| TASCO Tipco Asphalt | ฿14.40 | 5.9% +฿1.3b | -22.2% | PE14.2x | |
| TOA TOA Paint (Thailand) | ฿13.10 | 4.0% +฿969.3m | -20.6% | PE10.1x | |
| BCT Birla Carbon (Thailand) | ฿49.50 | 3.7% +฿525.0m | -26.9% | PE4.9x | |
| EPG Eastern Polymer Group | ฿3.04 | 6.3% +฿504.0m | -36.7% | PE8.6x | |
| STPI STP&I | ฿3.96 | 2.1% +฿145.0m | 12.5% | PE19.4x |