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Thai (SET) Real Estate Sector Analysis
UpdatedApr 28, 2025
DataAggregated Company Financials
Companies125
- 7D0.7%
- 3M-11.1%
- 1Y-23.5%
- YTD-16.1%
In the last week, the Real Estate industry is flat overall, with Supalai standing out by going down 4.1%. Unfortunately though, the industry is down 24% over the past 12 months. As for the next few years, earnings are expected to grow by 7.3% per annum.
Sector Valuation and Performance
Has the Thai Real Estate Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 28 Apr 2025 | ฿929.4b | ฿509.6b | ฿77.6b | 10.6x | 12x | 1.8x |
| Wed, 26 Mar 2025 | ฿976.6b | ฿507.9b | ฿77.3b | 11.1x | 12.6x | 1.9x |
| Fri, 21 Feb 2025 | ฿1.0t | ฿518.6b | ฿85.7b | 11.9x | 11.8x | 2x |
| Sun, 19 Jan 2025 | ฿1.0t | ฿521.6b | ฿85.6b | 11.6x | 12.1x | 2x |
| Tue, 17 Dec 2024 | ฿1.1t | ฿518.3b | ฿83.5b | 11.9x | 13x | 2.1x |
| Thu, 14 Nov 2024 | ฿1.1t | ฿521.9b | ฿87.2b | 11.5x | 13.2x | 2.2x |
| Sat, 12 Oct 2024 | ฿1.2t | ฿519.5b | ฿87.0b | 11.8x | 13.9x | 2.3x |
| Mon, 09 Sep 2024 | ฿1.2t | ฿519.6b | ฿87.0b | 11.1x | 13.6x | 2.3x |
| Wed, 07 Aug 2024 | ฿1.1t | ฿509.4b | ฿84.9b | 11.5x | 12.5x | 2.1x |
| Fri, 05 Jul 2024 | ฿1.1t | ฿509.8b | ฿84.9b | 11x | 12.7x | 2.1x |
| Sun, 02 Jun 2024 | ฿1.1t | ฿509.8b | ฿85.7b | 11.6x | 13.3x | 2.2x |
| Tue, 30 Apr 2024 | ฿1.2t | ฿508.2b | ฿85.9b | 12.2x | 14x | 2.4x |
| Thu, 28 Mar 2024 | ฿1.2t | ฿508.1b | ฿85.5b | 12.5x | 14.2x | 2.4x |
| Sat, 24 Feb 2024 | ฿1.2t | ฿941.7b | ฿109.3b | 11.7x | 11.3x | 1.3x |
| Mon, 22 Jan 2024 | ฿1.2t | ฿512.3b | ฿89.3b | 11.2x | 13.7x | 2.4x |
| Wed, 20 Dec 2023 | ฿1.2t | ฿512.9b | ฿88.0b | 10.8x | 13.9x | 2.4x |
| Fri, 17 Nov 2023 | ฿1.2t | ฿516.2b | ฿87.4b | 11.2x | 14x | 2.4x |
| Sun, 15 Oct 2023 | ฿1.2t | ฿510.7b | ฿85.5b | 11.1x | 14.5x | 2.4x |
| Tue, 12 Sep 2023 | ฿1.3t | ฿510.7b | ฿85.5b | 11.7x | 15.3x | 2.6x |
| Thu, 10 Aug 2023 | ฿1.3t | ฿508.8b | ฿85.8b | 12.1x | 15x | 2.5x |
| Sat, 08 Jul 2023 | ฿1.3t | ฿509.3b | ฿86.6b | 12.4x | 14.8x | 2.5x |
| Mon, 05 Jun 2023 | ฿1.3t | ฿505.9b | ฿86.7b | 12.6x | 15.1x | 2.6x |
| Wed, 03 May 2023 | ฿1.4t | ฿495.9b | ฿83.0b | 13.1x | 16.3x | 2.7x |
| Fri, 31 Mar 2023 | ฿1.4t | ฿496.5b | ฿82.7b | 13.5x | 16.4x | 2.7x |
| Sun, 26 Feb 2023 | ฿1.4t | ฿479.0b | ฿76.3b | 13x | 18.4x | 2.9x |
| Tue, 24 Jan 2023 | ฿1.4t | ฿466.9b | ฿69.8b | 13x | 20.2x | 3x |
| Thu, 22 Dec 2022 | ฿1.4t | ฿466.8b | ฿71.2b | 12.8x | 19.1x | 2.9x |
| Sat, 19 Nov 2022 | ฿1.3t | ฿460.5b | ฿61.9b | 13.1x | 21.3x | 2.9x |
| Mon, 17 Oct 2022 | ฿1.3t | ฿433.5b | ฿52.8b | 12.7x | 23.9x | 2.9x |
| Wed, 14 Sep 2022 | ฿1.3t | ฿433.3b | ฿52.6b | 13.4x | 25.1x | 3.1x |
| Fri, 12 Aug 2022 | ฿1.3t | ฿423.4b | ฿45.1b | 13.3x | 28.7x | 3.1x |
| Sun, 10 Jul 2022 | ฿1.2t | ฿416.6b | ฿41.1b | 13.6x | 30.4x | 3x |
| Tue, 07 Jun 2022 | ฿1.3t | ฿417.9b | ฿42.6b | 14x | 30.9x | 3.1x |
| Thu, 05 May 2022 | ฿1.3t | ฿412.3b | ฿43.2b | 14.4x | 30.8x | 3.2x |
Price to Earnings Ratio
30.8x
Current Industry PE
- Investors are pessimistic on the Thai Real Estate 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 12.0x which is lower than its 3-year average PE of 16.7x.
- The 3-year average PS ratio of 2.5x is higher than the industry's current PS ratio of 1.8x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have grown 22% per year over the last three years.
- Revenues for these companies have grown 7.3% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Thai Real Estate sector?
| TH Market | 0.71% | |
| Real Estate | 0.67% | |
| Specialized REITs | 2.84% | |
| Retail REITs | 1.36% | |
| Real Estate | 1.00% | |
| Office REITs | 0.72% | |
| Residential REITs | 0.07% | |
| REITS | -1.18% | |
| Industrial REITs | -2.12% | |
| Hotel and Resort REITs | -2.80% | |
Industry PE
- Investors are most optimistic about the Retail REITs industry which is trading above its 3-year average PE ratio of 15.6x.
- Analysts are expecting annual earnings growth of 26.2%, which is higher than its past year's earnings decline of 20.0% per year.
Forecasted Growth
- Analysts are most optimistic on the Retail REITs industry, expecting annual earnings growth of 26% over the next 5 years.
- This is better than its past earnings decline of 20% per year.
- In contrast, the Hotel and Resort REITs industry is expected to see its earnings decline by 20% 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 | |
|---|---|---|---|---|---|
| CPN Central Pattana | ฿49.00 | 1.6% +฿3.4b | -21.0% | PE13.1x | |
| WHA WHA Corporation | ฿3.06 | 6.3% +฿2.7b | -37.3% | PE10.5x | |
| GLAND Grand Canal Land | ฿1.04 | 22.4% +฿1.2b | -35.8% | PE16.1x | |
| AXTRART Axtra Future City Freehold And Leasehold Real Estate Investment Trust | ฿12.10 | 2.5% +฿701.2m | -7.6% | PB1x | |
| AMATA Amata Corporation | ฿15.40 | 3.4% +฿575.0m | -30.9% | PE7.1x |