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Thai (SET) Real Estate Sector Analysis
UpdatedDec 02, 2024
DataAggregated Company Financials
Companies124
- 7D-2.0%
- 3M1.6%
- 1Y-8.6%
- YTD-11.0%
Over the last 7 days, the Real Estate industry has dropped 2.0%, driven by a pullback from Central Pattana of 3.6%. The industry has fallen 8.6% in the last year. Looking forward, earnings are forecast to grow by 8.2% annually.
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, 02 Dec 2024 | ฿1.1t | ฿521.7b | ฿85.6b | 12.2x | 13.4x | 2.2x |
| Wed, 30 Oct 2024 | ฿1.2t | ฿519.4b | ฿87.1b | 12.2x | 13.7x | 2.3x |
| Fri, 27 Sep 2024 | ฿1.2t | ฿519.5b | ฿87.0b | 11.8x | 14x | 2.3x |
| Sun, 25 Aug 2024 | ฿1.1t | ฿519.2b | ฿86.9b | 10.9x | 12.8x | 2.1x |
| Tue, 23 Jul 2024 | ฿1.1t | ฿509.8b | ฿84.9b | 11.4x | 12.9x | 2.2x |
| Thu, 20 Jun 2024 | ฿1.1t | ฿509.9b | ฿85.1b | 11.1x | 12.7x | 2.1x |
| Sat, 18 May 2024 | ฿1.2t | ฿511.6b | ฿85.7b | 12.3x | 13.9x | 2.3x |
| Mon, 15 Apr 2024 | ฿1.2t | ฿508.1b | ฿85.5b | 12.6x | 14.3x | 2.4x |
| Wed, 13 Mar 2024 | ฿1.2t | ฿508.1b | ฿85.5b | 12.6x | 14.2x | 2.4x |
| Fri, 09 Feb 2024 | ฿1.2t | ฿511.1b | ฿90.7b | 11.2x | 13.5x | 2.4x |
| Sun, 07 Jan 2024 | ฿1.3t | ฿512.3b | ฿88.0b | 11.5x | 14.4x | 2.5x |
| Tue, 05 Dec 2023 | ฿1.2t | ฿512.9b | ฿88.0b | 10.9x | 13.9x | 2.4x |
| Thu, 02 Nov 2023 | ฿1.2t | ฿512.3b | ฿85.8b | 10.9x | 13.7x | 2.3x |
| Sat, 30 Sep 2023 | ฿1.2t | ฿510.7b | ฿85.5b | 11.3x | 14.6x | 2.4x |
| Mon, 28 Aug 2023 | ฿1.3t | ฿510.7b | ฿85.5b | 12.1x | 15.4x | 2.6x |
| Wed, 26 Jul 2023 | ฿1.3t | ฿509.4b | ฿86.6b | 12.2x | 14.9x | 2.5x |
| Fri, 23 Jun 2023 | ฿1.3t | ฿509.3b | ฿86.6b | 12.1x | 14.9x | 2.5x |
| Sun, 21 May 2023 | ฿1.3t | ฿504.1b | ฿85.2b | 12.2x | 15.4x | 2.6x |
| Tue, 18 Apr 2023 | ฿1.4t | ฿495.8b | ฿82.6b | 13.3x | 16.7x | 2.8x |
| Thu, 16 Mar 2023 | ฿1.3t | ฿496.7b | ฿81.9b | 13.4x | 16.2x | 2.7x |
| Sat, 11 Feb 2023 | ฿1.4t | ฿467.3b | ฿69.5b | 13.1x | 20.7x | 3.1x |
| Mon, 09 Jan 2023 | ฿1.4t | ฿466.8b | ฿71.2b | 13x | 19.5x | 3x |
| Wed, 07 Dec 2022 | ฿1.4t | ฿466.3b | ฿70.9b | 12.7x | 19.2x | 2.9x |
| Fri, 04 Nov 2022 | ฿1.3t | ฿433.5b | ฿52.8b | 12.8x | 25.1x | 3.1x |
| Sun, 02 Oct 2022 | ฿1.3t | ฿433.3b | ฿52.6b | 12.9x | 24.3x | 3x |
| Tue, 30 Aug 2022 | ฿1.3t | ฿433.3b | ฿52.6b | 13.5x | 24.6x | 3x |
| Thu, 28 Jul 2022 | ฿1.3t | ฿417.5b | ฿41.3b | 13.3x | 30.6x | 3x |
| Sat, 25 Jun 2022 | ฿1.3t | ฿417.9b | ฿42.6b | 13.6x | 29.6x | 3x |
| Mon, 23 May 2022 | ฿1.3t | ฿417.4b | ฿41.9b | 13.9x | 31x | 3.1x |
| Wed, 20 Apr 2022 | ฿1.3t | ฿412.1b | ฿43.3b | 14.4x | 31.1x | 3.3x |
| Fri, 18 Mar 2022 | ฿1.3t | ฿412.1b | ฿43.3b | 14.3x | 30.4x | 3.2x |
| Sun, 13 Feb 2022 | ฿1.3t | ฿410.0b | ฿41.0b | 14.6x | 32.9x | 3.3x |
| Tue, 11 Jan 2022 | ฿1.3t | ฿409.2b | ฿40.8b | 14.2x | 31.7x | 3.2x |
| Thu, 09 Dec 2021 | ฿1.3t | ฿405.9b | ฿40.3b | 13.9x | 31.8x | 3.2x |
Price to Earnings Ratio
31.8x
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 13.4x which is lower than its 3-year average PE of 19.2x.
- The 3-year average PS ratio of 2.7x is higher than the industry's current PS ratio of 2.2x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have grown 29% per year over the last three years.
- Revenues for these companies have grown 8.7% 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 | -1.30% | |
| Real Estate | -2.02% | |
| Residential REITs | 3.81% | |
| Specialized REITs | 1.47% | |
| Office REITs | 0.20% | |
| Health Care REITs | 0% | |
| Industrial REITs | -0.22% | |
| REITS | -0.35% | |
| Retail REITs | -0.51% | |
| Hotel and Resort REITs | -0.64% | |
| Real Estate | -2.66% | |
Industry PE
- Investors are most optimistic about the Specialized REITs industry even though it's trading below its 3-year average PE ratio of 23.2x.
- Analysts are expecting annual earnings growth of 2.3%, which is lower than the prior year's growth of 21.8% per year.
Forecasted Growth
- Analysts are most optimistic on the Office REITs industry, expecting annual earnings growth of 41% over the next 5 years.
- This is better than its past earnings decline of 8.9% per year.
- In contrast, the Hotel and Resort REITs industry is expected to see its earnings decline by 5.2% 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 | |
|---|---|---|---|---|---|
| FTREIT Ticon Freehold and Leasehold Real Estate Investment Trust | ฿10.30 | 2.0% +฿2.9b | 3.5% | PB0.9x | |
| IMPACT IMPACT Growth Real Estate Investment Trust | ฿11.20 | 2.8% +฿444.8m | -8.9% | PB1x | |
| PSH Pruksa Holding | ฿8.45 | 1.8% +฿328.3m | -30.7% | PE21.1x | |
| UV Univentures | ฿1.73 | 9.5% +฿286.8m | -19.2% | PE149.1x | |
| GLAND Grand Canal Land | ฿1.60 | 2.6% +฿260.0m | -19.6% | PE22.7x |