Thai (SET) Real Estate Sector Analysis
UpdatedDec 01, 2023
DataAggregated Company Financials
Companies127
- 7D-0.8%
- 3M-7.2%
- 1Y-11.1%
- YTD-13.6%
Over the last 7 days, the Real Estate industry has remained flat, although notably CPN Retail Growth Leasehold REIT declined by 3.6%. As for the longer term, the industry has declined 11% in the last year. Earnings are forecast to grow by 8.0% 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 |
|---|---|---|---|---|---|---|
| Sat, 02 Dec 2023 | ฿1.2t | ฿513.5b | ฿88.0b | 11.3x | 14x | 2.4x |
| Mon, 30 Oct 2023 | ฿1.2t | ฿512.3b | ฿85.8b | 11x | 13.9x | 2.3x |
| Wed, 27 Sep 2023 | ฿1.3t | ฿510.7b | ฿85.5b | 11.3x | 14.7x | 2.5x |
| Fri, 25 Aug 2023 | ฿1.3t | ฿510.7b | ฿85.5b | 12x | 15.3x | 2.6x |
| Sun, 23 Jul 2023 | ฿1.3t | ฿509.4b | ฿86.6b | 12.4x | 15x | 2.5x |
| Tue, 20 Jun 2023 | ฿1.3t | ฿509.3b | ฿86.6b | 12.5x | 15.2x | 2.6x |
| Thu, 18 May 2023 | ฿1.3t | ฿500.8b | ฿85.0b | 13x | 15.7x | 2.7x |
| Sat, 15 Apr 2023 | ฿1.4t | ฿495.8b | ฿82.4b | 13.3x | 16.7x | 2.8x |
| Mon, 13 Mar 2023 | ฿1.3t | ฿496.3b | ฿83.2b | 13.7x | 16.2x | 2.7x |
| Wed, 08 Feb 2023 | ฿1.4t | ฿466.9b | ฿69.8b | 13.3x | 20.6x | 3.1x |
| Fri, 06 Jan 2023 | ฿1.4t | ฿466.8b | ฿71.2b | 13x | 19.4x | 3x |
| Sun, 04 Dec 2022 | ฿1.4t | ฿466.3b | ฿70.9b | 12.7x | 19.1x | 2.9x |
| Tue, 01 Nov 2022 | ฿1.3t | ฿433.5b | ฿52.8b | 12.9x | 25x | 3x |
| Thu, 29 Sep 2022 | ฿1.3t | ฿433.3b | ฿52.6b | 12.9x | 24.3x | 3x |
| Sat, 27 Aug 2022 | ฿1.3t | ฿433.3b | ฿52.6b | 13.5x | 24.6x | 3x |
| Mon, 25 Jul 2022 | ฿1.2t | ฿417.5b | ฿41.3b | 13.5x | 30.2x | 3x |
| Wed, 22 Jun 2022 | ฿1.3t | ฿417.9b | ฿42.6b | 13.6x | 29.7x | 3x |
| Fri, 20 May 2022 | ฿1.3t | ฿420.6b | ฿43.8b | 13.5x | 29.3x | 3x |
| Sun, 17 Apr 2022 | ฿1.3t | ฿412.1b | ฿43.3b | 14.5x | 31x | 3.3x |
| Tue, 15 Mar 2022 | ฿1.3t | ฿412.1b | ฿43.3b | 14.2x | 30.1x | 3.2x |
| Thu, 10 Feb 2022 | ฿1.3t | ฿409.3b | ฿41.0b | 14.6x | 32.9x | 3.3x |
| Sat, 08 Jan 2022 | ฿1.3t | ฿409.2b | ฿40.8b | 14.1x | 31.6x | 3.2x |
| Mon, 06 Dec 2021 | ฿1.3t | ฿405.9b | ฿40.3b | 13.9x | 31.2x | 3.1x |
| Wed, 03 Nov 2021 | ฿1.3t | ฿424.0b | ฿55.3b | 44.7x | 23.7x | 3.1x |
| Fri, 01 Oct 2021 | ฿1.2t | ฿424.1b | ฿55.4b | 13.9x | 22.5x | 2.9x |
| Sun, 29 Aug 2021 | ฿1.2t | ฿425.4b | ฿54.7b | 13.8x | 22.8x | 2.9x |
| Mon, 05 Jul 2021 | ฿1.3t | ฿425.4b | ฿54.7b | 13.5x | 22.9x | 2.9x |
| Thu, 08 Apr 2021 | ฿1.3t | ฿414.4b | ฿51.6b | 13.5x | 24.4x | 3x |
| Sun, 10 Jan 2021 | ฿1.1t | ฿411.9b | ฿51.4b | 13.4x | 22x | 2.8x |
Price to Earnings Ratio
16x
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 14.0x which is lower than its 3-year average PE of 22.8x.
- The 3-year average PS ratio of 2.9x is higher than the industry's current PS ratio of 2.4x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have grown 7.6% per year over the last three years.
- Revenues for these companies have grown 6.9% 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 | -1.84% | |
| Real Estate | -0.75% | |
| Residential REITs | 7.17% | |
| REITS | 2.03% | |
| Hotel and Resort REITs | 0.51% | |
| Health Care REITs | 0% | |
| Specialized REITs | -0.032% | |
| Real Estate | -0.49% | |
| Office REITs | -1.95% | |
| Retail REITs | -2.03% | |
| Industrial REITs | -2.95% | |
Industry PE
- Investors are most optimistic about the REITS industry which is trading above its 3-year average PE ratio of 22.1x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Industrial REITs industry, which is trading below its 3-year average of 12.9x.
Forecasted Growth
- Analysts are most optimistic on the Hotel and Resort REITs industry, expecting annual earnings growth of 26% over the next 5 years.
- This is better than its past earnings growth rate of 17% per year.
- In contrast, the Industrial REITs industry is expected to see its earnings grow by 5.0% 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 | ฿68.00 | 1.1% +฿3.4b | -4.2% | PE22x | |
| WHA WHA Corporation | ฿5.15 | 3.4% +฿2.5b | 34.8% | PE15.9x | |
| SPI Saha Pathana Inter-Holding | ฿69.00 | 1.8% +฿714.9m | 0.7% | PE11.8x | |
| LH Land and Houses | ฿7.75 | 0.6% +฿597.5m | -18.0% | PE15.5x | |
| SA Siamese Asset | ฿7.20 | 3.6% +฿298.2m | -16.8% | PE96x |