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Thai (SET) IT Industry Analysis
UpdatedFeb 22, 2026
DataAggregated Company Financials
Companies24
- 7D4.0%
- 3M15.4%
- 1Y-17.0%
- YTD16.2%
In the last week, the IT industry is up 4.0%, with Bluebik Group up 20%. However, the industry is down 17% over the past year. As for the next few years, earnings are expected to grow by 13% per annum.
Industry Valuation and Performance
Has the Thai IT Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 22 Feb 2026 | ฿48.3b | ฿65.1b | ฿3.3b | 11.5x | 14.6x | 0.7x |
| Tue, 20 Jan 2026 | ฿41.5b | ฿65.3b | ฿3.4b | 10.5x | 12.3x | 0.6x |
| Thu, 18 Dec 2025 | ฿42.4b | ฿65.3b | ฿3.4b | 10.2x | 12.5x | 0.6x |
| Sat, 15 Nov 2025 | ฿42.9b | ฿64.1b | ฿3.4b | 10.5x | 12.6x | 0.7x |
| Mon, 13 Oct 2025 | ฿44.7b | ฿64.2b | ฿3.5b | 11x | 12.8x | 0.7x |
| Wed, 10 Sep 2025 | ฿47.1b | ฿64.2b | ฿3.5b | 10.9x | 13.5x | 0.7x |
| Fri, 08 Aug 2025 | ฿47.8b | ฿63.8b | ฿3.5b | 10.8x | 13.5x | 0.7x |
| Sun, 06 Jul 2025 | ฿43.7b | ฿64.6b | ฿3.6b | 9.9x | 12.1x | 0.7x |
| Tue, 03 Jun 2025 | ฿45.9b | ฿64.6b | ฿3.6b | 10.4x | 12.7x | 0.7x |
| Thu, 01 May 2025 | ฿50.0b | ฿63.2b | ฿3.7b | 9.6x | 13.6x | 0.8x |
| Sat, 29 Mar 2025 | ฿52.2b | ฿63.2b | ฿3.7b | 10.4x | 14.2x | 0.8x |
| Mon, 24 Feb 2025 | ฿58.0b | ฿60.9b | ฿3.3b | 9.5x | 17.7x | 1x |
| Wed, 22 Jan 2025 | ฿56.2b | ฿60.3b | ฿3.2b | 10x | 17.7x | 0.9x |
| Fri, 20 Dec 2024 | ฿57.0b | ฿60.3b | ฿3.2b | 10.1x | 18x | 0.9x |
| Sun, 17 Nov 2024 | ฿60.8b | ฿59.3b | ฿3.2b | 12.6x | 18.7x | 1x |
| Tue, 15 Oct 2024 | ฿62.5b | ฿59.2b | ฿3.2b | 11.6x | 19.8x | 1.1x |
| Thu, 12 Sep 2024 | ฿59.3b | ฿59.2b | ฿3.2b | 11.3x | 18.8x | 1x |
| Sat, 10 Aug 2024 | ฿49.8b | ฿58.3b | ฿3.0b | 10.3x | 16.5x | 0.9x |
| Mon, 08 Jul 2024 | ฿56.9b | ฿57.5b | ฿3.0b | 11.8x | 19.1x | 1x |
| Wed, 05 Jun 2024 | ฿111.1b | ฿60.9b | ฿3.1b | 12.3x | 35.5x | 1.8x |
| Fri, 03 May 2024 | ฿104.1b | ฿57.8b | ฿3.3b | 14x | 31.3x | 1.8x |
| Sun, 31 Mar 2024 | ฿111.0b | ฿57.8b | ฿3.3b | 14.6x | 33.4x | 1.9x |
| Tue, 27 Feb 2024 | ฿127.6b | ฿54.8b | ฿3.5b | 12.4x | 36.7x | 2.3x |
| Thu, 25 Jan 2024 | ฿122.8b | ฿53.7b | ฿3.1b | 12.5x | 39.2x | 2.3x |
| Sat, 23 Dec 2023 | ฿111.8b | ฿53.7b | ฿3.1b | 11.7x | 35.7x | 2.1x |
| Mon, 20 Nov 2023 | ฿110.0b | ฿53.8b | ฿3.1b | 12.3x | 35.1x | 2x |
| Wed, 18 Oct 2023 | ฿99.7b | ฿51.4b | ฿2.9b | 14x | 34.2x | 1.9x |
| Fri, 15 Sep 2023 | ฿105.1b | ฿49.9b | ฿2.8b | 13.9x | 37.7x | 2.1x |
| Sun, 13 Aug 2023 | ฿95.7b | ฿49.0b | ฿2.7b | 14.2x | 36.1x | 2x |
| Tue, 11 Jul 2023 | ฿89.8b | ฿47.7b | ฿2.8b | 14.4x | 32.6x | 1.9x |
| Thu, 08 Jun 2023 | ฿94.6b | ฿47.7b | ฿2.8b | 14.6x | 34.3x | 2x |
| Sat, 06 May 2023 | ฿86.5b | ฿40.3b | ฿2.2b | 14.3x | 38.5x | 2.1x |
| Mon, 03 Apr 2023 | ฿101.6b | ฿40.3b | ฿2.2b | 16.4x | 45.2x | 2.5x |
| Wed, 01 Mar 2023 | ฿135.1b | ฿45.8b | ฿3.5b | 21.9x | 38.9x | 3x |
Price to Earnings Ratio
38.9x
Current Industry PE
- Investors are pessimistic on the Thai IT industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 14.3x which is lower than its 3-year average PE of 24.6x.
- The 3-year average PS ratio of 1.4x is higher than the industry's current PS ratio of 0.74x.
Past Earnings Growth
- The earnings for companies in the IT industry have remained mostly flat over the last three years.
- Meanwhile revenues for these companies have grown 13% 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 industry?
| TH Market | 3.48% | |
| Tech | 7.83% | |
| IT | 4.05% | |
| IT Consulting | 4.06% | |
| Internet Services and Infrastructure | 3.98% | |
| Data Processing Services | 3.05% | |
Industry PE
- Investors are most optimistic about the IT Consulting industry even though it's trading below its 3-year average PE ratio of 26.6x.
- Analysts are expecting annual earnings growth of 9.1%, which is lower than the prior year's growth of 14.0% per year.
Forecasted Growth
- Analysts are most optimistic on the Internet Services and Infrastructure industry, expecting annual earnings growth of 30% over the next 5 years.
- This is better than its past earnings decline of 28% per year.
- In contrast, the IT Consulting industry is expected to see its earnings grow by 9.1% 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 | |
|---|---|---|---|---|---|
| BBIK Bluebik Group | ฿21.40 | 19.6% +฿700.1m | -41.4% | PE13.5x | |
| SKY Sky ICT | ฿14.20 | 3.6% +฿358.6m | -27.6% | PE15x | |
| GABLE G-Able | ฿3.88 | 9.0% +฿224.0m | 21.3% | PE9.2x | |
| BE8 Beryl 8 Plus | ฿6.35 | 12.4% +฿185.3m | -50.4% | PE20.1x | |
| INSET Infraset | ฿2.66 | 5.6% +฿112.9m | 12.7% | PE60.8x |