Thai (SET) Paper Packaging Industry Analysis

Industry Valuation and Performance

Has the Thai Paper Packaging Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Thu, 13 Aug 2026	฿166.4b	฿178.7b	฿8.1b	9.7x	20.6x	0.9x
Sat, 11 Jul 2026	฿154.5b	฿176.9b	฿5.8b	9.2x	26.5x	0.9x
Mon, 08 Jun 2026	฿139.2b	฿176.9b	฿5.8b	8.6x	23.9x	0.8x
Wed, 06 May 2026	฿135.5b	฿178.2b	฿5.7b	8.5x	23.8x	0.8x
Fri, 03 Apr 2026	฿116.8b	฿181.1b	฿5.0b	8.6x	23.2x	0.6x
Sun, 01 Mar 2026	฿113.8b	฿178.4b	฿4.6b	10.1x	24.9x	0.6x
Tue, 27 Jan 2026	฿112.3b	฿180.6b	฿3.7b	9.2x	30.6x	0.6x
Thu, 25 Dec 2025	฿98.3b	฿180.6b	฿3.7b	8.8x	26.8x	0.5x
Sat, 22 Nov 2025	฿90.7b	฿181.1b	฿3.7b	8.5x	24.6x	0.5x
Mon, 20 Oct 2025	฿98.4b	฿189.4b	฿5.7b	9x	17.2x	0.5x
Wed, 17 Sep 2025	฿109.2b	฿189.4b	฿5.7b	9.4x	19.1x	0.6x
Fri, 15 Aug 2025	฿100.8b	฿189.6b	฿5.7b	9.4x	17.6x	0.5x
Sun, 13 Jul 2025	฿96.5b	฿187.6b	฿5.3b	8.2x	18.2x	0.5x
Tue, 10 Jun 2025	฿95.9b	฿187.6b	฿5.3b	8.6x	18.1x	0.5x
Thu, 08 May 2025	฿95.0b	฿187.1b	฿5.7b	8.4x	16.6x	0.5x
Sat, 05 Apr 2025	฿79.2b	฿188.9b	฿6.5b	8.3x	12.1x	0.4x
Mon, 03 Mar 2025	฿85.0b	฿188.1b	฿6.5b	8.4x	13.1x	0.5x
Wed, 29 Jan 2025	฿97.8b	฿187.9b	฿7.9b	9.1x	12.4x	0.5x
Fri, 27 Dec 2024	฿114.8b	฿187.9b	฿7.9b	9.1x	14.5x	0.6x
Sun, 24 Nov 2024	฿135.3b	฿187.9b	฿7.9b	9.3x	17.1x	0.7x
Tue, 22 Oct 2024	฿149.6b	฿184.5b	฿8.4b	12.9x	17.8x	0.8x
Thu, 19 Sep 2024	฿151.8b	฿184.5b	฿8.4b	13.3x	18x	0.8x
Sat, 17 Aug 2024	฿133.0b	฿184.6b	฿8.5b	12.6x	15.7x	0.7x
Mon, 15 Jul 2024	฿167.3b	฿181.3b	฿7.9b	13x	21.1x	0.9x
Wed, 12 Jun 2024	฿176.9b	฿181.3b	฿7.9b	13.2x	22.3x	1x
Fri, 10 May 2024	฿167.8b	฿180.9b	฿7.6b	15.5x	22.2x	0.9x
Sun, 07 Apr 2024	฿159.5b	฿180.6b	฿7.0b	13.8x	22.8x	0.9x
Tue, 05 Mar 2024	฿149.5b	฿180.6b	฿7.0b	14.6x	21.4x	0.8x
Thu, 01 Feb 2024	฿168.1b	฿182.0b	฿6.4b	15.7x	26.1x	0.9x
Sat, 30 Dec 2023	฿187.7b	฿183.6b	฿5.7b	17.4x	33.1x	1x
Mon, 27 Nov 2023	฿196.0b	฿183.6b	฿5.7b	17.4x	34.6x	1.1x
Wed, 25 Oct 2023	฿179.4b	฿193.5b	฿6.8b	19.6x	26.3x	0.9x
Fri, 22 Sep 2023	฿211.0b	฿193.5b	฿6.8b	21.6x	30.9x	1.1x
Sun, 20 Aug 2023	฿193.7b	฿193.5b	฿6.8b	21.1x	28.4x	1x

Current Industry PE

Investors are relatively neutral on the Thai Paper Packaging industry at the moment, indicating that they anticipate long term growth rates to remain steady.

The industry is trading close to its 3-year average PE ratio of 22.1x.

The industry is trading close to its 3-year average PS ratio of 0.76x.

Past Earnings Growth

The earnings for companies in the Paper Packaging industry have grown 5.5% per year over the last three years.
Meanwhile revenues for these companies have declined 2.6% per year.
This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Comparison

How does Thai Paper Packaging compare with similar industries?


TH Market	0.18%
Materials	0.45%
Packaging	0.59%
Paper Packaging	0.40%
Metal and Glass Containers	1.52%

Industry PEThere are no additional sub-industries under this industry.

Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

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

Company	Last Price	7D	1Y	Valuation
PTL Polyplex (Thailand)	฿14.90	3.5% +฿450.0m	51.3%	PE19.5x
THIP Thantawan Industry	฿22.60	7.6% +฿144.0m	-9.6%	PE12.5x
SPACK S. Pack & Print	฿1.83	34.6% +฿141.0m	22.0%	PE11.3x
TPBI TPBI	฿3.50	9.4% +฿125.1m	15.9%	PE6.5x
SFLEX Starflex	฿3.08	4.1% +฿89.1m	2.0%	PE9.5x

New major risk - Revenue and earnings growth

Earnings have declined by 1.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.6% per year over the past 5 years. Minor Risks High level of debt (100% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (฿1.18b market cap, or US$35.7m).

Thai (SET) Paper Packaging Industry Analysis

Industry Valuation and Performance

Industry Comparison

Top Stock Gainers and Losers

Latest News

New major risk - Revenue and earnings growth

Second quarter 2026 earnings released: EPS: ฿0.24 (vs ฿0.11 in 2Q 2025)

First half dividend reduced to ฿0.55

Second quarter 2026 earnings released: EPS: ฿0.05 (vs ฿0.003 in 2Q 2025)

Less than half of directors are independent

Less than half of directors are independent

Polyplex (Thailand) Public Company Limited Approves Final Dividend Payment for the Year Ended 31 March 2026, Payable on 27 August 2026

Unique Plastic Industry Public Company Limited to Report Q1, 2026 Results on Jun 05, 2026

First quarter 2026 earnings released: EPS: ฿0.001 (vs ฿0.002 in 1Q 2025)

First quarter 2026 earnings released: ฿0.17 loss per share (vs ฿0.028 loss in 1Q 2025)

First quarter 2026 earnings released: EPS: ฿0.56 (vs ฿0.22 in 1Q 2025)

First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind

First quarter 2026 earnings released: EPS: ฿0.27 (vs ฿0.21 in 1Q 2025)

Upcoming dividend of ฿0.42 per share