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
Sat, 29 Aug 2026	฿163.3b	฿179.1b	฿8.7b	9.4x	18.9x	0.9x
Mon, 27 Jul 2026	฿161.1b	฿177.8b	฿7.1b	9.3x	22.6x	0.9x
Wed, 24 Jun 2026	฿151.1b	฿176.9b	฿5.8b	9.1x	25.9x	0.9x
Fri, 22 May 2026	฿128.2b	฿177.3b	฿5.6b	8.9x	22.9x	0.7x
Sun, 19 Apr 2026	฿118.6b	฿181.1b	฿5.0b	8.4x	23.6x	0.7x
Tue, 17 Mar 2026	฿100.7b	฿178.0b	฿4.9b	9.5x	20.6x	0.6x
Thu, 12 Feb 2026	฿111.2b	฿179.6b	฿4.9b	9.2x	22.5x	0.6x
Sat, 10 Jan 2026	฿104.0b	฿180.6b	฿3.7b	9x	28.3x	0.6x
Mon, 08 Dec 2025	฿89.8b	฿180.6b	฿3.7b	8.4x	24.5x	0.5x
Wed, 05 Nov 2025	฿101.8b	฿181.6b	฿4.3b	8.9x	23.8x	0.6x
Fri, 03 Oct 2025	฿107.8b	฿189.4b	฿5.7b	8.9x	18.9x	0.6x
Sun, 31 Aug 2025	฿99.4b	฿189.4b	฿5.7b	9.3x	17.4x	0.5x
Tue, 29 Jul 2025	฿102.9b	฿187.6b	฿5.3b	8.2x	19.4x	0.5x
Thu, 26 Jun 2025	฿99.2b	฿187.6b	฿5.3b	8.1x	18.7x	0.5x
Sat, 24 May 2025	฿100.9b	฿187.9b	฿5.6b	8.2x	18x	0.5x
Mon, 21 Apr 2025	฿83.4b	฿188.9b	฿6.5b	8.4x	12.7x	0.4x
Wed, 19 Mar 2025	฿95.6b	฿188.9b	฿6.5b	8.3x	14.6x	0.5x
Fri, 14 Feb 2025	฿92.3b	฿187.3b	฿6.6b	8.5x	13.9x	0.5x
Sun, 12 Jan 2025	฿104.2b	฿187.9b	฿7.9b	9.1x	13.2x	0.6x
Tue, 10 Dec 2024	฿119.0b	฿187.9b	฿7.9b	9.4x	15.1x	0.6x
Thu, 07 Nov 2024	฿142.0b	฿186.3b	฿7.7b	12.3x	18.5x	0.8x
Sat, 05 Oct 2024	฿162.5b	฿184.5b	฿8.4b	12.7x	19.3x	0.9x
Mon, 02 Sep 2024	฿139.9b	฿184.5b	฿8.4b	12.3x	16.6x	0.8x
Wed, 31 Jul 2024	฿155.3b	฿183.3b	฿7.9b	13.1x	19.7x	0.8x
Fri, 28 Jun 2024	฿178.0b	฿181.3b	฿7.9b	13.1x	22.4x	1x
Sun, 26 May 2024	฿176.4b	฿181.4b	฿7.9b	12.9x	22.3x	1x
Tue, 23 Apr 2024	฿164.9b	฿180.6b	฿7.0b	13.4x	23.6x	0.9x
Thu, 21 Mar 2024	฿156.7b	฿180.6b	฿7.0b	14.3x	22.4x	0.9x
Sat, 17 Feb 2024	฿165.4b	฿57.1b	฿3.9b	15.4x	42.6x	2.9x
Mon, 15 Jan 2024	฿179.9b	฿183.6b	฿5.7b	17.2x	31.8x	1x
Wed, 13 Dec 2023	฿188.9b	฿183.6b	฿5.7b	17.1x	33.3x	1x
Fri, 10 Nov 2023	฿189.9b	฿199.1b	฿6.1b	21.3x	31.4x	1x
Sun, 08 Oct 2023	฿192.4b	฿193.5b	฿6.8b	19.5x	28.2x	1x
Tue, 05 Sep 2023	฿212.8b	฿193.5b	฿6.8b	22.3x	31.2x	1.1x

Current Industry PE

Investors are pessimistic on the Thai Paper Packaging 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 18.4x which is lower than its 3-year average PE of 21.9x.

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 8.3% per year over the last three years.
Meanwhile revenues for these companies have declined 2.5% 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	-1.58%
Materials	3.10%
Packaging	1.65%
Paper Packaging	2.24%
Metal and Glass Containers	-1.02%

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

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

Company	Last Price	7D	1Y	Valuation
SCGP SCG Packaging	฿30.00	3.4% +฿4.3b	75.4%	PE21.4x
TPBI TPBI	฿3.70	2.8% +฿41.7m	32.1%	PE6.8x
PMC PMC Label Materials	฿1.00	4.2% +฿16.6m	4.0%	PE5.8x

Company

Last Price

Valuation

SCGP SCG Packaging

฿30.00

3.4%
+฿4.3b

75.4%

PE21.4x

TPBI TPBI

฿3.70

2.8%
+฿41.7m

32.1%

PE6.8x

PMC PMC Label Materials

฿1.00

4.2%
+฿16.6m

4.0%

PE5.8x

New major risk - Revenue and earnings growth

Earnings have declined by 0.7% 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 0.7% 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 (฿1.19b market cap, or US$36.5m).

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

New major risk - Financial position

Price target increased by 9.6% to ฿4.00

Second quarter 2026 earnings released: EPS: ฿0.24 (vs ฿0.32 loss in 2Q 2025)

Second quarter 2026 earnings released: EPS: ฿0.016 (vs ฿0.001 loss in 2Q 2025)

Second quarter 2026 earnings released

Second quarter 2026 earnings released: EPS: ฿0.34 (vs ฿0.21 in 2Q 2025)

Second quarter 2026 earnings released: EPS: ฿0.48 (vs ฿0.49 in 2Q 2025)

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

SCGP: Vietnam Expansion And Leadership Changes Will Support Rich Future P/E Profile

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