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Thai (SET) Materials Sector Analysis

UpdatedDec 02, 2025
DataAggregated Company Financials
Companies99
  • 7D1.2%
  • 3M-14.3%
  • 1Y-17.1%
  • YTD-14.0%

The Materials industry has been flat over the last week, but Indorama Ventures has lost 3.7%. As for the longer term, the industry has declined 18% in the last year. Looking forward, earnings are forecast to grow by 32% annually.

Sector Valuation and Performance

Has the Thai Materials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 02 Dec 2025฿741.0b฿2.1t฿20.6b9.9x36x0.3x
Thu, 30 Oct 2025฿823.2b฿2.2t฿2.6b10.2x315x0.4x
Sat, 27 Sep 2025฿888.4b฿2.2t฿3.0b10.8x293.1x0.4x
Mon, 25 Aug 2025฿884.6b฿2.2t฿3.1b10.6x287.8x0.4x
Wed, 23 Jul 2025฿803.9b฿2.3t-฿25,442,891,199.0010.3x-31.6x0.4x
Fri, 20 Jun 2025฿711.3b฿2.3t-฿25,726,335,199.009.7x-27.6x0.3x
Sun, 18 May 2025฿745.8b฿2.3t-฿27,484,178,874.0010.5x-27.1x0.3x
Tue, 15 Apr 2025฿673.6b฿2.3t-฿20,346,950,970.008.9x-33.1x0.3x
Thu, 13 Mar 2025฿744.7b฿2.3t-฿26,370,377,667.009.9x-28.2x0.3x
Sat, 08 Feb 2025฿767.3b฿2.4t-฿26,360,187,725.0010.6x-29.1x0.3x
Mon, 06 Jan 2025฿864.3b฿2.4t-฿25,929,799,785.0011.3x-33.3x0.4x
Wed, 04 Dec 2024฿906.1b฿2.4t-฿25,915,718,631.0011.6x-35x0.4x
Fri, 01 Nov 2024฿965.8b฿2.4t฿3.8b11.7x252.9x0.4x
Sun, 29 Sep 2024฿1.1t฿2.4t฿6.5b12.1x164x0.4x
Tue, 27 Aug 2024฿951.1b฿2.4t฿6.5b11.5x146.7x0.4x
Thu, 25 Jul 2024฿948.4b฿2.3t฿27.9b11.6x34x0.4x
Sat, 22 Jun 2024฿1.0t฿2.3t฿27.9b12.6x36.6x0.4x
Mon, 20 May 2024฿1.1t฿2.3t฿29.9b13.4x37.9x0.5x
Wed, 17 Apr 2024฿1.2t฿2.3t฿44.5b13.9x25.9x0.5x
Fri, 15 Mar 2024฿1.2t฿2.3t฿45.2b14.4x25.5x0.5x
Sun, 11 Feb 2024฿1.1t฿2.3t฿34.9b14.3x32.5x0.5x
Tue, 09 Jan 2024฿1.2t฿2.3t฿33.8b14.4x36.5x0.5x
Thu, 07 Dec 2023฿1.2t฿2.3t฿33.8b14x36.3x0.5x
Sat, 04 Nov 2023฿1.2t฿2.4t฿28.4b14.2x42.5x0.5x
Mon, 02 Oct 2023฿1.2t฿2.4t฿29.3b15.3x42.4x0.5x
Wed, 30 Aug 2023฿1.3t฿2.4t฿28.9b16.5x45x0.5x
Fri, 28 Jul 2023฿1.4t฿2.6t฿62.1b15.7x21.9x0.5x
Sun, 25 Jun 2023฿1.3t฿2.6t฿64.8b14.7x20.8x0.5x
Tue, 23 May 2023฿1.4t฿2.6t฿66.7b14.8x20.6x0.5x
Thu, 20 Apr 2023฿1.4t฿2.7t฿79.4b16.3x17.7x0.5x
Sat, 18 Mar 2023฿1.4t฿2.7t฿79.4b16.3x18.2x0.5x
Mon, 13 Feb 2023฿1.6t฿2.7t฿115.6b16.8x13.9x0.6x
Wed, 11 Jan 2023฿1.7t฿2.7t฿126.4b14.9x13.1x0.6x
Fri, 09 Dec 2022฿1.6t฿2.7t฿126.2b15.2x12.5x0.6x
Price to Earnings Ratio

12.5x


Total Market Cap: ฿1.6tTotal Earnings: ฿126.2bTotal Revenue: ฿2.7tTotal Market Cap vs Earnings and Revenue0%0%0%
Thai Materials Sector Price to Earnings3Y Average 47x202320242025
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 36.1x which is lower than its 3-year average PE of 47.0x.
  • 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 7.4% 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 Market1.90%
Materials1.16%
Basic Materials2.06%
Metals and Mining1.09%
Packaging0.82%
Chemicals0.25%
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 88% 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 8.1% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
SCC Siam Cement฿187.501.6%
+฿3.6b		1.9%PE13x
TOA TOA Paint (Thailand)฿13.408.9%
+฿2.1b		-7.6%PE10.3x
PTTGC PTT Global Chemical฿20.402.0%
+฿1.8b		-20.0%PS0.2x
SCGP SCG Packaging฿15.802.6%
+฿1.7b		-26.9%PE24.2x
BCT Birla Carbon (Thailand)฿53.001.9%
+฿300.0m		-22.6%PE5.2x

Latest News

SCC
฿187.50
Siam Cement
7D
1.6%
1Y
1.9%

SCC: Board Meeting And Audit Committee Renewal Will Drive Future Momentum

Analysts have updated their price target for Siam Cement, maintaining it at 219.03 THB. They cited stable fair value estimates and minimal changes in key financial assumptions.
IVL
฿15.50
Indorama Ventures
7D
-1.9%
1Y
-37.0%

IVL: Green Chemistry and AI Solutions Will Accelerate Market Leadership

Analysts have revised their price target for Indorama Ventures slightly downward from $24.18 to $23.54. This change is based on updated expectations for revenue growth and profit margins.
BGC
฿3.84
BG Container Glass
7D
-2.5%
1Y
-50.1%
SCGP
฿15.80
SCG Packaging
7D
2.6%
1Y
-26.9%

SCGP: Fair Value Increase Points To Strong Future Upside Potential

Analysts have slightly raised their fair value estimate for SCG Packaging from ฿19.03 to ฿19.11, citing minor adjustments in key financial assumptions and market outlook. Valuation Changes Fair Value: Increased slightly from THB 19.03 to THB 19.11.
TPIPL
฿0.68
TPI Polene
7D
1.5%
1Y
-39.8%
SCCC
฿141.50
Siam City Cement
7D
0.7%
1Y
-13.2%
TOA
฿13.40
TOA Paint (Thailand)
7D
8.9%
1Y
-7.6%
EPG
฿2.96
Eastern Polymer Group
7D
-1.3%
1Y
-27.5%
SPG
฿11.00
Siam Pan Group
7D
-1.8%
1Y
-19.1%
BCT
฿53.00
Birla Carbon (Thailand)
7D
1.9%
1Y
-22.6%
SMPC
฿8.70
Sahamitr Pressure Container
7D
-1.1%
1Y
-7.4%
PTTGC
฿20.40
PTT Global Chemical
7D
2.0%
1Y
-20.0%
TMT
฿2.78
TMT Steel
7D
-5.4%
1Y
-15.2%
GJS
฿0.12
G J Steel
7D
9.1%
1Y
-25.0%
INOX
฿0.36
POSCO-Thainox
7D
-2.7%
1Y
-29.4%
GGC
฿3.56
Global Green Chemicals
7D
-3.8%
1Y
-23.9%