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Thai (SET) Tech Sector Analysis
UpdatedDec 18, 2025
DataAggregated Company Financials
Companies56
- 7D-11.4%
- 3M3.5%
- 1Y7.0%
- YTD15.3%
Over the last 7 days, the Tech industry has dropped 11%, driven by a pullback from Delta Electronics (Thailand) of 9.2%. In the past year, the industry has gained 7.0%. As for the next few years, earnings are expected to grow by 27% per annum.
Sector Valuation and Performance
Has the Thai Tech Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 19 Dec 2025 | ฿2.4t | ฿626.4b | ฿30.0b | 11.5x | 79.4x | 3.8x |
| Sun, 16 Nov 2025 | ฿2.9t | ฿622.5b | ฿29.5b | 11.7x | 97.1x | 4.6x |
| Tue, 14 Oct 2025 | ฿2.5t | ฿616.5b | ฿28.3b | 12.8x | 88.4x | 4.1x |
| Thu, 11 Sep 2025 | ฿2.1t | ฿616.5b | ฿28.3b | 12.9x | 74.8x | 3.4x |
| Sat, 09 Aug 2025 | ฿2.1t | ฿618.2b | ฿28.4b | 14.1x | 72.7x | 3.3x |
| Mon, 07 Jul 2025 | ฿1.6t | ฿618.5b | ฿30.6b | 11.6x | 52.7x | 2.6x |
| Wed, 04 Jun 2025 | ฿1.5t | ฿618.5b | ฿30.6b | 12.1x | 50.1x | 2.5x |
| Fri, 02 May 2025 | ฿1.5t | ฿614.3b | ฿30.8b | 12.3x | 47.9x | 2.4x |
| Sun, 30 Mar 2025 | ฿1.1t | ฿609.5b | ฿29.6b | 12.3x | 37.5x | 1.8x |
| Tue, 25 Feb 2025 | ฿1.2t | ฿606.5b | ฿33.4b | 13.1x | 36.8x | 2x |
| Thu, 23 Jan 2025 | ฿2.1t | ฿600.0b | ฿34.9b | 13.1x | 61.4x | 3.6x |
| Sat, 21 Dec 2024 | ฿2.2t | ฿600.0b | ฿34.9b | 13.5x | 62.8x | 3.6x |
| Mon, 18 Nov 2024 | ฿2.4t | ฿600.1b | ฿34.4b | 13.9x | 69.3x | 4x |
| Wed, 16 Oct 2024 | ฿1.8t | ฿593.6b | ฿34.9b | 17x | 52.9x | 3.1x |
| Fri, 13 Sep 2024 | ฿1.6t | ฿593.6b | ฿34.9b | 14.9x | 46.2x | 2.7x |
| Sun, 11 Aug 2024 | ฿1.5t | ฿595.6b | ฿35.3b | 13x | 43.8x | 2.6x |
| Tue, 09 Jul 2024 | ฿1.4t | ฿590.0b | ฿32.1b | 15.2x | 43.6x | 2.4x |
| Thu, 06 Jun 2024 | ฿1.3t | ฿593.1b | ฿32.3b | 16.1x | 39.2x | 2.1x |
| Sat, 04 May 2024 | ฿1.2t | ฿599.3b | ฿32.0b | 16.1x | 38.5x | 2.1x |
| Mon, 01 Apr 2024 | ฿1.3t | ฿592.1b | ฿31.2b | 17x | 41.8x | 2.2x |
| Wed, 28 Feb 2024 | ฿1.3t | ฿596.0b | ฿32.5b | 16.2x | 40.7x | 2.2x |
| Fri, 26 Jan 2024 | ฿1.4t | ฿599.4b | ฿32.2b | 16.2x | 44.5x | 2.4x |
| Sun, 24 Dec 2023 | ฿1.6t | ฿599.4b | ฿32.2b | 16.7x | 48.6x | 2.6x |
| Tue, 21 Nov 2023 | ฿1.4t | ฿600.3b | ฿32.5b | 14.1x | 43.4x | 2.3x |
| Thu, 19 Oct 2023 | ฿1.4t | ฿606.2b | ฿30.9b | 14.8x | 46.6x | 2.4x |
| Sat, 16 Sep 2023 | ฿1.8t | ฿604.8b | ฿30.8b | 18.2x | 57.7x | 2.9x |
| Mon, 14 Aug 2023 | ฿1.7t | ฿602.4b | ฿31.2b | 16.8x | 54.9x | 2.8x |
| Wed, 12 Jul 2023 | ฿1.6t | ฿594.8b | ฿30.6b | 15.2x | 52.8x | 2.7x |
| Fri, 09 Jun 2023 | ฿1.7t | ฿594.4b | ฿30.5b | 16.7x | 54.9x | 2.8x |
| Sun, 07 May 2023 | ฿1.3t | ฿585.2b | ฿31.1b | 16.1x | 42.2x | 2.2x |
| Tue, 04 Apr 2023 | ฿1.6t | ฿578.6b | ฿30.5b | 20.8x | 53.8x | 2.8x |
| Thu, 02 Mar 2023 | ฿1.7t | ฿570.4b | ฿29.5b | 23.7x | 58.4x | 3x |
| Sat, 28 Jan 2023 | ฿1.6t | ฿556.6b | ฿29.3b | 23.6x | 55.3x | 2.9x |
| Mon, 26 Dec 2022 | ฿1.4t | ฿556.7b | ฿29.3b | 22.6x | 46.8x | 2.5x |
Price to Earnings Ratio
46.8x
Current Industry PE
- Investors are optimistic on the Thai Information Technology industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 79.4x which is higher than its 3-year average PE of 53.8x.
- The 3-year average PS ratio of 2.8x is lower than the industry's current PS ratio of 3.8x.
Past Earnings Growth
- The earnings for companies in the Information Technology industry have remained mostly flat over the last three years.
- Meanwhile revenues for these companies have grown 4.0% 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.
Industry Trends
Which industries have driven the changes within the Thai Tech sector?
| TH Market | -1.04% | |
| Tech | -11.44% | |
| Communications | 3.51% | |
| Software | 3.32% | |
| Semiconductors | 0.89% | |
| IT | 0.71% | |
| Tech Hardware | 0% | 0 |
| Electronic Equipment and Components | -11.68% | |
Industry PE
- Investors are most optimistic about the Electronic Equipment and Components industry which is trading above its 3-year average PE ratio of 56.9x.
- Analysts are expecting annual earnings growth of 27.3%, which is higher than its past year's earnings growth of 7.1% per year.
- Investors are most pessimistic about the Communications industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
- Analysts are most optimistic on the Electronic Equipment and Components industry, expecting annual earnings growth of 27% over the next 5 years.
- This is better than its past earnings growth rate of 7.1% per year.
- In contrast, the Software industry is expected to see its earnings grow by 7.1% 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 | |
|---|---|---|---|---|---|
| NETBAY Netbay | ฿21.50 | 4.9% +฿200.0m | 26.5% | PE15.7x | |
| TWZ TWZ Corporation | ฿0.03 | 50.0% +฿198.6m | 0% | PS0.1x | |
| SAMART Samart Corporation | ฿5.60 | 2.8% +฿151.0m | -15.8% | PE11.9x | |
| SIS SiS Distribution (Thailand) | ฿19.80 | 2.1% +฿140.1m | -32.3% | PE8.2x | |
| SYNEX Synnex (Thailand) | ฿9.95 | 1.5% +฿127.1m | -30.9% | PE11.7x |