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Thai (SET) IT Industry Analysis
UpdatedFeb 19, 2026
DataAggregated Company Financials
Companies24
- 7D7.0%
- 3M14.4%
- 1Y-17.1%
- YTD16.9%
Over the last 7 days, the IT industry has risen 7.0%, driven by gains from Sky ICT of 8.9%. In the past year, the industry is down 17%. Looking forward, earnings are forecast to grow by 13% annually.
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 |
|---|---|---|---|---|---|---|
| Thu, 19 Feb 2026 | ฿48.6b | ฿65.2b | ฿3.4b | 11.2x | 14.4x | 0.7x |
| Sat, 17 Jan 2026 | ฿41.1b | ฿65.3b | ฿3.4b | 10.5x | 12.1x | 0.6x |
| Mon, 15 Dec 2025 | ฿42.2b | ฿65.3b | ฿3.4b | 10.1x | 12.5x | 0.6x |
| Wed, 12 Nov 2025 | ฿42.9b | ฿64.3b | ฿3.5b | 11x | 12.3x | 0.7x |
| Fri, 10 Oct 2025 | ฿44.6b | ฿64.2b | ฿3.5b | 11x | 12.8x | 0.7x |
| Sun, 07 Sep 2025 | ฿47.1b | ฿64.2b | ฿3.5b | 10.9x | 13.5x | 0.7x |
| Tue, 05 Aug 2025 | ฿45.3b | ฿64.6b | ฿3.6b | 10x | 12.6x | 0.7x |
| Thu, 03 Jul 2025 | ฿42.4b | ฿64.6b | ฿3.6b | 10.2x | 11.8x | 0.7x |
| Sat, 31 May 2025 | ฿45.9b | ฿64.6b | ฿3.6b | 10.4x | 12.7x | 0.7x |
| Mon, 28 Apr 2025 | ฿51.1b | ฿63.2b | ฿3.7b | 10.6x | 13.9x | 0.8x |
| Wed, 26 Mar 2025 | ฿52.9b | ฿63.2b | ฿3.7b | 10.5x | 14.3x | 0.8x |
| Fri, 21 Feb 2025 | ฿57.4b | ฿60.6b | ฿3.2b | 10.7x | 17.8x | 0.9x |
| Sun, 19 Jan 2025 | ฿52.6b | ฿60.3b | ฿3.2b | 9.9x | 16.6x | 0.9x |
| Tue, 17 Dec 2024 | ฿59.4b | ฿60.3b | ฿3.2b | 10.1x | 18.8x | 1x |
| Thu, 14 Nov 2024 | ฿60.3b | ฿59.9b | ฿3.1b | 10.8x | 19.2x | 1x |
| Sat, 12 Oct 2024 | ฿62.5b | ฿59.2b | ฿3.2b | 11.6x | 19.8x | 1.1x |
| Mon, 09 Sep 2024 | ฿60.3b | ฿59.2b | ฿3.2b | 11.4x | 19.1x | 1x |
| Wed, 07 Aug 2024 | ฿48.4b | ฿57.5b | ฿3.0b | 10.3x | 16.2x | 0.8x |
| Fri, 05 Jul 2024 | ฿55.7b | ฿57.5b | ฿3.0b | 11.5x | 18.7x | 1x |
| Sun, 02 Jun 2024 | ฿115.0b | ฿60.9b | ฿3.1b | 12.5x | 36.7x | 1.9x |
| Tue, 30 Apr 2024 | ฿105.3b | ฿57.8b | ฿3.3b | 14.2x | 31.7x | 1.8x |
| Thu, 28 Mar 2024 | ฿112.4b | ฿57.8b | ฿3.3b | 14.4x | 33.8x | 1.9x |
| Sat, 24 Feb 2024 | ฿127.6b | ฿54.7b | ฿3.5b | 12.5x | 36.9x | 2.3x |
| Mon, 22 Jan 2024 | ฿121.3b | ฿53.7b | ฿3.1b | 12.8x | 38.7x | 2.3x |
| Wed, 20 Dec 2023 | ฿109.2b | ฿53.7b | ฿3.1b | 11.6x | 34.9x | 2x |
| Fri, 17 Nov 2023 | ฿103.8b | ฿53.0b | ฿3.0b | 12.8x | 34.7x | 2x |
| Sun, 15 Oct 2023 | ฿99.9b | ฿51.4b | ฿2.9b | 14.2x | 34.2x | 1.9x |
| Tue, 12 Sep 2023 | ฿106.5b | ฿49.9b | ฿2.8b | 14.3x | 38.2x | 2.1x |
| Thu, 10 Aug 2023 | ฿96.1b | ฿47.7b | ฿2.7b | 14.5x | 35.2x | 2x |
| Sat, 08 Jul 2023 | ฿91.2b | ฿47.7b | ฿2.8b | 14.5x | 33.1x | 1.9x |
| Mon, 05 Jun 2023 | ฿92.7b | ฿47.7b | ฿2.8b | 15x | 33.6x | 1.9x |
| Wed, 03 May 2023 | ฿85.1b | ฿40.3b | ฿2.2b | 14.1x | 37.9x | 2.1x |
| Fri, 31 Mar 2023 | ฿102.9b | ฿40.3b | ฿2.2b | 16.6x | 45.8x | 2.6x |
| Sun, 26 Feb 2023 | ฿133.5b | ฿45.8b | ฿3.5b | 22.1x | 37.7x | 2.9x |
Price to Earnings Ratio
37.7x
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 14.4x which is lower than its 3-year average PE of 24.7x.
- The 3-year average PS ratio of 1.4x is higher than the industry's current PS ratio of 0.75x.
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 12% 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 | 3.94% | |
| Tech | 2.06% | |
| IT | 7.04% | |
| Internet Services and Infrastructure | 11.18% | |
| IT Consulting | 6.64% | |
| Data Processing Services | 4.33% | |
Industry PE
- Investors are most optimistic about the IT Consulting industry even though it's trading below its 3-year average PE ratio of 26.7x.
- Analysts are expecting annual earnings growth of 8.8%, which is lower than the prior year's growth of 11.1% 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 8.8% 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 | |
|---|---|---|---|---|---|
| SKY Sky ICT | ฿14.70 | 8.9% +฿860.7m | -28.6% | PE15.5x | |
| BBIK Bluebik Group | ฿20.20 | 18.8% +฿640.0m | -42.7% | PE12.8x | |
| INSET Infraset | ฿2.66 | 23.1% +฿403.3m | 9.9% | PE60.8x | |
| AIT Advanced Information Technology | ฿5.20 | 3.0% +฿230.5m | 8.8% | PE13.5x | |
| BE8 Beryl 8 Plus | ฿6.15 | 13.9% +฿198.5m | -53.1% | PE19.4x |