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Thai (SET) Office REITs Industry Analysis
UpdatedJan 12, 2026
DataAggregated Company Financials
Companies14
- 7D0.5%
- 3M3.2%
- 1Y-4.3%
- YTDn/a
In the last week, Office REITs has been flat. Unfortunately though, the industry is down 4.3% over the past 12 months. Earnings are forecast to grow by 9.4% annually.
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 |
|---|---|---|---|---|---|---|
| Mon, 12 Jan 2026 | ฿33.6b | ฿6.3b | ฿1.6b | 10.3x | 20.7x | 5.3x |
| Wed, 10 Dec 2025 | ฿32.9b | ฿6.3b | ฿2.0b | 14.9x | 16.5x | 5.2x |
| Fri, 07 Nov 2025 | ฿32.6b | ฿6.5b | ฿2.5b | 10.5x | 13.2x | 5x |
| Sun, 05 Oct 2025 | ฿33.1b | ฿6.5b | ฿2.5b | 10.3x | 13.4x | 5.1x |
| Tue, 02 Sep 2025 | ฿31.5b | ฿6.5b | ฿2.5b | 9.9x | 12.8x | 4.9x |
| Thu, 31 Jul 2025 | ฿31.5b | ฿6.6b | ฿2.3b | 13.3x | 13.9x | 4.8x |
| Sat, 28 Jun 2025 | ฿31.0b | ฿6.6b | ฿2.3b | 14.2x | 13.6x | 4.7x |
| Mon, 26 May 2025 | ฿32.3b | ฿6.6b | ฿2.3b | 14.4x | 14.1x | 4.9x |
| Wed, 23 Apr 2025 | ฿32.5b | ฿6.7b | ฿2.0b | 15.1x | 16.1x | 4.8x |
| Fri, 21 Mar 2025 | ฿33.4b | ฿6.7b | ฿2.0b | 15.5x | 16.5x | 5x |
| Sun, 16 Feb 2025 | ฿34.2b | ฿8.0b | ฿2.5b | 10x | 13.6x | 4.3x |
| Tue, 14 Jan 2025 | ฿35.5b | ฿8.0b | ฿2.5b | 10.1x | 14.1x | 4.5x |
| Thu, 12 Dec 2024 | ฿36.6b | ฿8.1b | ฿2.6b | 11x | 14.3x | 4.5x |
| Sat, 09 Nov 2024 | ฿35.5b | ฿8.1b | ฿2.1b | 10.1x | 16.7x | 4.4x |
| Mon, 07 Oct 2024 | ฿35.5b | ฿8.1b | ฿2.1b | 10.3x | 16.8x | 4.4x |
| Wed, 04 Sep 2024 | ฿30.2b | ฿7.9b | ฿2.0b | 9.6x | 14.8x | 3.8x |
| Fri, 02 Aug 2024 | ฿29.8b | ฿7.9b | ฿1.9b | 15.2x | 15.6x | 3.8x |
| Sun, 30 Jun 2024 | ฿29.5b | ฿7.9b | ฿1.9b | 14.9x | 15.4x | 3.7x |
| Tue, 28 May 2024 | ฿31.1b | ฿7.9b | ฿2.2b | 10.3x | 14x | 3.9x |
| Thu, 25 Apr 2024 | ฿31.1b | ฿7.9b | ฿2.4b | 10x | 12.9x | 3.9x |
| Sat, 23 Mar 2024 | ฿31.5b | ฿7.9b | ฿2.4b | 9.9x | 13.1x | 4x |
| Mon, 19 Feb 2024 | ฿33.7b | ฿7.9b | ฿2.5b | 10.5x | 13.7x | 4.3x |
| Wed, 17 Jan 2024 | ฿35.1b | ฿7.9b | ฿2.4b | 11.2x | 14.6x | 4.4x |
| Fri, 15 Dec 2023 | ฿33.1b | ฿7.9b | ฿2.4b | 10.4x | 13.7x | 4.2x |
| Sun, 12 Nov 2023 | ฿34.0b | ฿7.9b | ฿3.2b | 10.3x | 10.8x | 4.3x |
| Tue, 10 Oct 2023 | ฿34.4b | ฿7.8b | ฿3.2b | 10.5x | 10.9x | 4.4x |
| Thu, 07 Sep 2023 | ฿37.7b | ฿7.8b | ฿3.2b | 11.4x | 12x | 4.8x |
| Sat, 05 Aug 2023 | ฿43.5b | ฿7.7b | ฿3.6b | 11.7x | 12.2x | 5.6x |
| Mon, 03 Jul 2023 | ฿45.0b | ฿7.7b | ฿3.6b | 11.7x | 12.6x | 5.8x |
| Wed, 31 May 2023 | ฿47.9b | ฿7.7b | ฿3.6b | 12x | 13.4x | 6.2x |
| Fri, 28 Apr 2023 | ฿48.3b | ฿7.7b | ฿3.6b | 13.3x | 13.4x | 6.3x |
| Sun, 26 Mar 2023 | ฿48.5b | ฿7.7b | ฿3.6b | 13.4x | 13.5x | 6.3x |
| Tue, 21 Feb 2023 | ฿51.4b | ฿7.7b | ฿3.5b | 12.9x | 14.8x | 6.7x |
| Thu, 19 Jan 2023 | ฿50.5b | ฿7.6b | ฿3.5b | 12.4x | 14.4x | 6.6x |
Price to Earnings Ratio
14.4x
Current Industry PE
- Investors are optimistic on the Thai Office REITs industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 20.7x which is higher than its 3-year average PE of 14.2x.
- The industry is trading close to its 3-year average PS ratio of 4.8x.
Past Earnings Growth
- The earnings for companies in the Office REITs industry have declined 23% per year over the last three years,
- Revenues have also declined 5.9% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Comparison
How does Thai Office REITs compare with similar industries?
| TH Market | -0.47% | |
| Real Estate | 0.18% | |
| REITS | 0.47% | |
| Office REITs | 0.48% | |
| Hotel and Resort REITs | 1.19% | |
| Diversified REITs | 0.47% | |
| Retail REITs | -0.095% | |
| Specialized REITs | -0.57% | |
| Industrial REITs | -0.98% | |
| Residential REITs | -1.13% | |
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 | |
|---|---|---|---|---|---|
| MIPF Millionaire Property Fund | ฿9.95 | 3.6% +฿66.5m | -0.5% | PB0.8x | |
| GVREIT Golden Ventures Leasehold Real Estate Investment Trust | ฿6.60 | 0.8% +฿40.7m | 0% | PB0.7x | |
| B-WORK Bualuang Office Leasehold Real Estate Investment Trust | ฿5.15 | 1.0% +฿18.4m | 7.3% | PB0.6x | |
| SSTRT Sub Sri Thai Real Estate Investment Trust | ฿4.34 | 1.9% +฿15.3m | -11.8% | PB0.5x |