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Thai (SET) Office REITs Industry Analysis
UpdatedNov 11, 2025
DataAggregated Company Financials
Companies14
- 7D0.03%
- 3M1.4%
- 1Y-8.9%
- YTD-9.5%
Last week, the Office REITs industry hasn't moved much but Prime Office Leasehold Property Fund is up 3.1% in that time. Unfortunately though, the industry is down 8.9% over the past 12 months. As for the next few years, earnings are expected to grow by 4.6% per annum.
Industry Valuation and Performance
Has the Thai Office REITs Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 12 Nov 2025 | ฿32.7b | ฿6.5b | ฿2.5b | 10.5x | 13.3x | 5.1x |
| Fri, 10 Oct 2025 | ฿32.8b | ฿6.5b | ฿2.5b | 10.3x | 13.3x | 5.1x |
| Sun, 07 Sep 2025 | ฿31.8b | ฿6.5b | ฿2.5b | 10x | 12.9x | 4.9x |
| Tue, 05 Aug 2025 | ฿31.6b | ฿6.6b | ฿2.3b | 13.2x | 13.9x | 4.8x |
| Thu, 03 Jul 2025 | ฿31.2b | ฿6.6b | ฿2.3b | 14.2x | 13.7x | 4.7x |
| Sat, 31 May 2025 | ฿32.5b | ฿6.6b | ฿2.3b | 15.2x | 14.3x | 4.9x |
| Mon, 28 Apr 2025 | ฿32.7b | ฿6.7b | ฿2.0b | 14.8x | 16.2x | 4.9x |
| Wed, 26 Mar 2025 | ฿33.2b | ฿6.7b | ฿2.0b | 15.5x | 16.4x | 4.9x |
| Fri, 21 Feb 2025 | ฿33.6b | ฿6.8b | ฿2.0b | 12x | 16.5x | 4.9x |
| Sun, 19 Jan 2025 | ฿35.3b | ฿8.0b | ฿2.5b | 10.1x | 14x | 4.4x |
| Tue, 17 Dec 2024 | ฿35.7b | ฿8.0b | ฿2.5b | 10x | 14.2x | 4.5x |
| Thu, 14 Nov 2024 | ฿35.4b | ฿8.1b | ฿2.1b | 10x | 16.8x | 4.4x |
| Sat, 12 Oct 2024 | ฿35.9b | ฿8.1b | ฿2.1b | 10.4x | 17x | 4.4x |
| Mon, 09 Sep 2024 | ฿30.9b | ฿7.9b | ฿2.0b | 9.6x | 15.2x | 3.9x |
| Wed, 07 Aug 2024 | ฿30.0b | ฿7.9b | ฿1.9b | 15x | 15.7x | 3.8x |
| Fri, 05 Jul 2024 | ฿29.4b | ฿7.9b | ฿1.9b | 15x | 15.4x | 3.7x |
| Sun, 02 Jun 2024 | ฿30.7b | ฿7.9b | ฿2.2b | 10.3x | 13.8x | 3.9x |
| Tue, 30 Apr 2024 | ฿31.3b | ฿7.9b | ฿2.4b | 10.2x | 13x | 4x |
| Thu, 28 Mar 2024 | ฿31.4b | ฿7.9b | ฿2.4b | 10x | 13x | 4x |
| Sat, 24 Feb 2024 | ฿33.2b | ฿7.9b | ฿2.4b | 10.5x | 13.6x | 4.2x |
| Mon, 22 Jan 2024 | ฿34.8b | ฿7.9b | ฿2.4b | 11x | 14.4x | 4.4x |
| Wed, 20 Dec 2023 | ฿32.8b | ฿7.9b | ฿2.4b | 10.1x | 13.6x | 4.1x |
| Fri, 17 Nov 2023 | ฿33.9b | ฿7.9b | ฿2.5b | 10.6x | 13.5x | 4.3x |
| Sun, 15 Oct 2023 | ฿34.6b | ฿7.8b | ฿3.2b | 10.5x | 11x | 4.4x |
| Tue, 12 Sep 2023 | ฿38.2b | ฿7.8b | ฿3.2b | 11.4x | 12.1x | 4.9x |
| Thu, 10 Aug 2023 | ฿41.8b | ฿7.7b | ฿3.5b | 11.8x | 11.8x | 5.4x |
| Sat, 08 Jul 2023 | ฿44.4b | ฿7.7b | ฿3.6b | 11.8x | 12.4x | 5.8x |
| Mon, 05 Jun 2023 | ฿47.5b | ฿7.7b | ฿3.6b | 12x | 13.3x | 6.2x |
| Wed, 03 May 2023 | ฿48.4b | ฿7.7b | ฿3.6b | 13.3x | 13.4x | 6.3x |
| Fri, 31 Mar 2023 | ฿48.8b | ฿7.7b | ฿3.6b | 13.2x | 13.5x | 6.3x |
Price to Earnings Ratio
13.5x
Current Industry PE
- Investors are relatively neutral on the Thai Office 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 14.0x.
- The industry is trading close to its 3-year average PS ratio of 4.7x.
Past Earnings Growth
- The earnings for companies in the Office REITs industry have declined 12% per year over the last three years,
- Revenues have also declined 5.6% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Trends
Which industries have driven the changes within the Thai Real Estate industry?
| TH Market | 0.16% | |
| Real Estate | 1.11% | |
| Office REITs | 0.026% | |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| GVREIT Golden Ventures Leasehold Real Estate Investment Trust | ฿6.60 | 1.5% +฿81.5m | 3.9% | PB0.6x | |
| BOFFICE Bhiraj Office Leasehold Real Estate Investment Trust | ฿5.10 | 2.0% +฿73.8m | -1.9% | PB0.5x | |
| CPTREIT C.P. Tower Leasehold Real Estate Investment Trust | ฿5.15 | 1.0% +฿48.4m | 1.0% | PB0.5x | |
| POPF Prime Office Leasehold Property Fund | ฿6.65 | 1.5% +฿48.2m | -0.7% | PB0.7x | |
| B-WORK Bualuang Office Leasehold Real Estate Investment Trust | ฿4.58 | 1.3% +฿22.1m | -5.4% | PB0.5x |