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Thai (SET) Real Estate Development Industry Analysis
UpdatedApr 02, 2026
DataAggregated Company Financials
Companies56
- 7D1.5%
- 3M7.3%
- 1Y-3.7%
- YTDn/a
In the last week, the Real Estate Development industry is up 1.5%, with WHA Corporation leading the way, up 2.4%. In the same time, Baan Rock Garden was down 21%. However, the industry is down 3.7% over the past year. As for the next few years, earnings are expected to grow by 9.2% per annum.
Industry Valuation and Performance
Has the Thai Real Estate Development Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 03 Apr 2026 | ฿345.4b | ฿331.1b | ฿22.3b | 9.4x | 15.5x | 1x |
| Sun, 01 Mar 2026 | ฿368.1b | ฿338.9b | ฿26.7b | 9.7x | 13.8x | 1.1x |
| Tue, 27 Jan 2026 | ฿323.2b | ฿335.0b | ฿26.6b | 8.3x | 12.2x | 1x |
| Thu, 25 Dec 2025 | ฿324.3b | ฿335.0b | ฿26.6b | 8.4x | 12.2x | 1x |
| Sat, 22 Nov 2025 | ฿313.4b | ฿336.2b | ฿26.8b | 8.8x | 11.7x | 0.9x |
| Mon, 20 Oct 2025 | ฿328.7b | ฿350.0b | ฿29.4b | 10x | 11.2x | 0.9x |
| Wed, 17 Sep 2025 | ฿359.8b | ฿350.0b | ฿29.4b | 10.5x | 12.3x | 1x |
| Fri, 15 Aug 2025 | ฿333.2b | ฿356.5b | ฿30.7b | 9.7x | 10.8x | 0.9x |
| Sun, 13 Jul 2025 | ฿304.6b | ฿360.5b | ฿32.5b | 9.1x | 9.4x | 0.8x |
| Tue, 10 Jun 2025 | ฿314.0b | ฿360.5b | ฿32.5b | 9.8x | 9.6x | 0.9x |
| Thu, 08 May 2025 | ฿337.2b | ฿373.5b | ฿32.6b | 10.7x | 10.3x | 0.9x |
| Sat, 05 Apr 2025 | ฿337.0b | ฿374.0b | ฿32.6b | 10.4x | 10.4x | 0.9x |
| Mon, 03 Mar 2025 | ฿379.5b | ฿379.8b | ฿36.8b | 10.9x | 10.3x | 1x |
| Wed, 29 Jan 2025 | ฿422.2b | ฿384.9b | ฿41.2b | 13.3x | 10.2x | 1.1x |
| Fri, 27 Dec 2024 | ฿457.9b | ฿384.9b | ฿41.2b | 14.6x | 11.1x | 1.2x |
| Sun, 24 Nov 2024 | ฿489.2b | ฿385.8b | ฿41.9b | 15.7x | 11.7x | 1.3x |
| Tue, 22 Oct 2024 | ฿505.8b | ฿383.1b | ฿42.3b | 14x | 12x | 1.3x |
| Thu, 19 Sep 2024 | ฿506.7b | ฿383.1b | ฿42.3b | 12.8x | 12x | 1.3x |
| Sat, 17 Aug 2024 | ฿446.1b | ฿384.6b | ฿43.1b | 10.6x | 10.3x | 1.2x |
| Mon, 15 Jul 2024 | ฿483.7b | ฿379.2b | ฿43.8b | 10.9x | 11x | 1.3x |
| Wed, 12 Jun 2024 | ฿497.6b | ฿379.2b | ฿43.8b | 11.3x | 11.4x | 1.3x |
| Fri, 10 May 2024 | ฿527.6b | ฿380.0b | ฿45.9b | 10.9x | 11.5x | 1.4x |
| Sun, 07 Apr 2024 | ฿539.3b | ฿381.6b | ฿46.7b | 11.5x | 11.5x | 1.4x |
| Tue, 05 Mar 2024 | ฿532.0b | ฿385.4b | ฿47.0b | 11.6x | 11.3x | 1.4x |
| Thu, 01 Feb 2024 | ฿537.5b | ฿389.3b | ฿50.6b | 8.5x | 10.6x | 1.4x |
| Sat, 30 Dec 2023 | ฿561.3b | ฿390.2b | ฿50.6b | 8.8x | 11.1x | 1.4x |
| Mon, 27 Nov 2023 | ฿541.8b | ฿390.6b | ฿50.5b | 9.4x | 10.7x | 1.4x |
| Wed, 25 Oct 2023 | ฿546.8b | ฿393.5b | ฿52.8b | 9.3x | 10.4x | 1.4x |
| Fri, 22 Sep 2023 | ฿583.2b | ฿393.5b | ฿52.8b | 10.5x | 11x | 1.5x |
| Sun, 20 Aug 2023 | ฿582.6b | ฿393.5b | ฿52.8b | 10.4x | 11x | 1.5x |
| Tue, 18 Jul 2023 | ฿588.9b | ฿396.5b | ฿52.9b | 10.4x | 11.1x | 1.5x |
| Thu, 15 Jun 2023 | ฿591.6b | ฿396.5b | ฿52.9b | 10.7x | 11.2x | 1.5x |
| Sat, 13 May 2023 | ฿596.2b | ฿388.1b | ฿52.3b | 11.4x | 11.4x | 1.5x |
| Mon, 10 Apr 2023 | ฿611.2b | ฿389.5b | ฿52.5b | 11.1x | 11.6x | 1.6x |
Price to Earnings Ratio
11.6x
Current Industry PE
- Investors are optimistic on the Thai Real Estate Development industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 15.5x which is higher than its 3-year average PE of 11.2x.
- The 3-year average PS ratio of 1.2x is higher than the industry's current PS ratio of 1.0x.
Past Earnings Growth
- The earnings for companies in the Real Estate Development industry have declined 25% per year over the last three years,
- Revenues have also declined 5.3% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Comparison
How does Thai Real Estate Development compare with similar industries?
| TH Market | 0.90% | |
| Real Estate | 0.69% | |
| Real Estate | 0.74% | |
| Real Estate Development | 1.51% | |
| Diversified Real Estate | 3.20% | |
| Real Estate Operating Companies | 0.002% | |
| Real Estate Services | -0.30% | |
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 | |
|---|---|---|---|---|---|
| LH Land and Houses | ฿3.78 | 3.3% +฿1.4b | -10.4% | PE12.2x | |
| AP AP (Thailand) | ฿8.60 | 4.9% +฿1.3b | 11.7% | PE6.3x | |
| SIRI Sansiri | ฿1.40 | 2.9% +฿699.4m | -4.1% | PE5.9x | |
| QH Quality Houses | ฿1.40 | 3.7% +฿535.6m | -10.3% | PE8.7x | |
| FPT Frasers Property (Thailand) | ฿6.10 | 3.4% +฿463.9m | -6.2% | PE9.6x |