Thai (SET) Industrial REITs Industry Analysis

UpdatedSep 26, 2025

DataAggregated Company Financials

Companies10

7D-1.3%
3M8.5%
1Y-8.5%
YTD-4.3%

Over the last 7 days, the Industrial REITs industry has dropped 1.3%, driven by a pullback from WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust of 2.5%. The industry has fallen 8.5% in the last year. Earnings are forecast to grow by 3.1% annually.

Industry Valuation and Performance

Has the Thai Industrial REITs Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Fri, 26 Sep 2025	฿92.8b	฿11.6b	฿7.1b	11.9x	13.1x	8x
Sun, 24 Aug 2025	฿87.7b	฿11.6b	฿7.1b	11.6x	12.3x	7.5x
Tue, 22 Jul 2025	฿89.7b	฿11.5b	฿6.8b	11.5x	13.1x	7.8x
Thu, 19 Jun 2025	฿83.8b	฿11.5b	฿6.8b	10.7x	12.2x	7.3x
Sat, 17 May 2025	฿86.5b	฿11.5b	฿6.8b	11.2x	12.6x	7.5x
Mon, 14 Apr 2025	฿85.2b	฿11.4b	฿6.4b	12.3x	13.3x	7.5x
Wed, 12 Mar 2025	฿91.8b	฿11.4b	฿6.4b	12.7x	14.3x	8.1x
Fri, 07 Feb 2025	฿93.6b	฿11.2b	฿6.8b	13.7x	13.8x	8.3x
Sun, 05 Jan 2025	฿93.6b	฿11.2b	฿6.8b	12.7x	13.8x	8.3x
Tue, 03 Dec 2024	฿94.0b	฿11.2b	฿6.8b	12.8x	13.9x	8.4x
Thu, 31 Oct 2024	฿93.7b	฿11.1b	฿7.0b	13.1x	13.4x	8.5x
Sat, 28 Sep 2024	฿95.7b	฿11.1b	฿7.0b	13x	13.7x	8.6x
Mon, 26 Aug 2024	฿91.1b	฿11.1b	฿7.0b	12.5x	13x	8.2x
Wed, 24 Jul 2024	฿88.1b	฿10.9b	฿6.6b	11.6x	13.4x	8.1x
Fri, 21 Jun 2024	฿78.7b	฿10.9b	฿6.6b	11x	12x	7.2x
Sun, 19 May 2024	฿87.7b	฿11.1b	฿6.7b	12.1x	13x	7.9x
Tue, 16 Apr 2024	฿91.3b	฿11.1b	฿6.8b	12.2x	13.5x	8.3x
Thu, 14 Mar 2024	฿92.5b	฿11.1b	฿6.8b	12.7x	13.7x	8.4x
Sat, 10 Feb 2024	฿92.2b	฿10.7b	฿7.6b	12x	12.1x	8.6x
Mon, 08 Jan 2024	฿96.4b	฿10.7b	฿7.7b	12.1x	12.6x	9x
Wed, 06 Dec 2023	฿86.9b	฿10.7b	฿7.7b	11.4x	11.3x	8.1x
Fri, 03 Nov 2023	฿84.8b	฿10.5b	฿7.4b	11.5x	11.4x	8.1x
Sun, 01 Oct 2023	฿91.0b	฿10.5b	฿7.4b	12.5x	12.2x	8.7x
Tue, 29 Aug 2023	฿94.5b	฿10.5b	฿7.4b	13x	12.7x	9x
Thu, 27 Jul 2023	฿96.0b	฿10.3b	฿7.2b	13.4x	13.3x	9.3x
Sat, 24 Jun 2023	฿95.5b	฿10.3b	฿7.2b	13.5x	13.2x	9.3x
Mon, 22 May 2023	฿98.4b	฿10.3b	฿7.2b	13.2x	13.6x	9.6x
Wed, 19 Apr 2023	฿97.2b	฿10.1b	฿7.1b	12.4x	13.7x	9.6x

Price to Earnings Ratio

14.4x

Tue, 28 Mar 2023

Current Industry PE

Investors are relatively neutral on the Thai Industrial REITs 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 12.9x.

The industry is trading close to its 3-year average PS ratio of 8.3x.

Past Earnings Growth

The earnings for companies in the Industrial REITs industry have remained mostly flat over the last three years.
Meanwhile revenues for these companies have grown 4.9% per year.
This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.