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Thai (SET) IT Industry Analysis
UpdatedAug 19, 2025
DataAggregated Company Financials
Companies23
- 7D-4.8%
- 3M-1.8%
- 1Y-18.6%
- YTD-25.3%
Over the last 7 days, the IT industry has dropped 4.8%, driven by a pullback from Sky ICT of 7.5%. Overall the industry is down 19% in 12 months. 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 |
|---|---|---|---|---|---|---|
| Tue, 19 Aug 2025 | ฿45.7b | ฿64.2b | ฿3.5b | 11.4x | 13.1x | 0.7x |
| Thu, 17 Jul 2025 | ฿44.6b | ฿64.6b | ฿3.6b | 9.9x | 12.3x | 0.7x |
| Sat, 14 Jun 2025 | ฿44.6b | ฿64.6b | ฿3.6b | 10.4x | 12.4x | 0.7x |
| Mon, 12 May 2025 | ฿47.6b | ฿63.2b | ฿3.7b | 11.2x | 13x | 0.8x |
| Wed, 09 Apr 2025 | ฿48.2b | ฿63.2b | ฿3.7b | 9.5x | 13.1x | 0.8x |
| Fri, 07 Mar 2025 | ฿55.4b | ฿63.1b | ฿3.6b | 10x | 15.4x | 0.9x |
| Sun, 02 Feb 2025 | ฿58.9b | ฿60.3b | ฿3.2b | 11.3x | 18.6x | 1x |
| Tue, 31 Dec 2024 | ฿59.3b | ฿60.3b | ฿3.2b | 10.2x | 18.7x | 1x |
| Thu, 28 Nov 2024 | ฿59.9b | ฿60.3b | ฿3.2b | 10.1x | 18.9x | 1x |
| Sat, 26 Oct 2024 | ฿61.0b | ฿59.2b | ฿3.2b | 11.1x | 19.3x | 1x |
| Mon, 23 Sep 2024 | ฿62.5b | ฿59.2b | ฿3.2b | 11.7x | 19.8x | 1.1x |
| Wed, 21 Aug 2024 | ฿54.5b | ฿59.2b | ฿3.2b | 11.1x | 17.3x | 0.9x |
| Fri, 19 Jul 2024 | ฿53.0b | ฿57.5b | ฿3.0b | 11.1x | 17.8x | 0.9x |
| Sun, 16 Jun 2024 | ฿102.7b | ฿60.0b | ฿3.1b | 11.9x | 32.9x | 1.7x |
| Tue, 14 May 2024 | ฿108.0b | ฿58.3b | ฿3.3b | 14.8x | 32.3x | 1.9x |
| Thu, 11 Apr 2024 | ฿112.5b | ฿57.8b | ฿3.3b | 14.5x | 33.9x | 1.9x |
| Sat, 09 Mar 2024 | ฿126.0b | ฿57.8b | ฿3.3b | 14x | 37.9x | 2.2x |
| Mon, 05 Feb 2024 | ฿123.7b | ฿53.7b | ฿3.1b | 12x | 39.5x | 2.3x |
| Wed, 03 Jan 2024 | ฿131.6b | ฿53.7b | ฿3.1b | 12.5x | 42x | 2.4x |
| Fri, 01 Dec 2023 | ฿104.4b | ฿53.7b | ฿3.1b | 12.1x | 33.3x | 1.9x |
| Sun, 29 Oct 2023 | ฿91.8b | ฿51.4b | ฿2.9b | 12.7x | 31.4x | 1.8x |
| Tue, 26 Sep 2023 | ฿101.4b | ฿51.0b | ฿2.8b | 14x | 35.7x | 2x |
| Thu, 24 Aug 2023 | ฿100.7b | ฿49.9b | ฿2.8b | 14.1x | 36.1x | 2x |
| Sat, 22 Jul 2023 | ฿92.1b | ฿47.7b | ฿2.8b | 14.7x | 33.4x | 1.9x |
| Mon, 19 Jun 2023 | ฿91.9b | ฿47.7b | ฿2.8b | 14.6x | 33.3x | 1.9x |
| Wed, 17 May 2023 | ฿90.6b | ฿45.7b | ฿2.5b | 15.1x | 36.6x | 2x |
| Fri, 14 Apr 2023 | ฿96.6b | ฿40.3b | ฿2.2b | 16.2x | 43x | 2.4x |
| Sun, 12 Mar 2023 | ฿131.3b | ฿48.2b | ฿4.0b | 17.9x | 32.5x | 2.7x |
| Tue, 07 Feb 2023 | ฿146.0b | ฿45.7b | ฿3.9b | 22.5x | 37.8x | 3.2x |
| Thu, 05 Jan 2023 | ฿160.3b | ฿46.8b | ฿4.1b | 21.5x | 38.8x | 3.4x |
| Sat, 03 Dec 2022 | ฿152.0b | ฿46.8b | ฿4.1b | 21.7x | 36.8x | 3.2x |
| Mon, 31 Oct 2022 | ฿172.2b | ฿45.9b | ฿4.0b | 19.7x | 43.2x | 3.7x |
| Wed, 28 Sep 2022 | ฿186.4b | ฿45.6b | ฿3.9b | 17.8x | 47.3x | 4.1x |
| Fri, 26 Aug 2022 | ฿205.6b | ฿45.6b | ฿3.9b | 18.9x | 52.2x | 4.5x |
Price to Earnings Ratio
52.2x
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 13.1x which is lower than its 3-year average PE of 29.6x.
- The 3-year average PS ratio of 1.9x is higher than the industry's current PS ratio of 0.71x.
Past Earnings Growth
- The earnings for companies in the IT industry have declined 3.9% per year 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, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Thai Tech industry?
| TH Market | -1.34% | |
| Tech | 1.60% | |
| IT | -4.80% | |
| Data Processing Services | 0% | 0 |
| Internet Services and Infrastructure | -3.66% | |
| IT Consulting | -4.90% | |
Industry PE
- Investors are most optimistic about the IT Consulting industry even though it's trading below its 3-year average PE ratio of 31.8x.
- Analysts are expecting annual earnings growth of 11.6%, which is higher than its past year's earnings decline of 0.4% per year.
Forecasted Growth
- Analysts are most optimistic on the Internet Services and Infrastructure industry, expecting annual earnings growth of 21% over the next 5 years.
- This is better than its past earnings growth rate of 7.9% per year.
- In contrast, the IT Consulting industry is expected to see its earnings grow by 12% 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 | |
|---|---|---|---|---|---|
| VCOM Vintcom Technology | ฿2.98 | 4.2% +฿36.8m | 16.4% | PE8.4x | |
| TPS Practical Solution | ฿3.22 | 2.5% +฿33.4m | 11.0% | PE9.2x | |
| PT Premier Technology | ฿12.20 | 0.8% +฿28.4m | 34.1% | PE11.4x | |
| SVOA SVOA | ฿1.26 | 1.6% +฿18.9m | -26.3% | PE22x | |
| ITNS International Network System | ฿1.53 | 6.3% +฿18.8m | 7.7% | PE8.9x |