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Thai (SET) IT Industry Analysis
UpdatedFeb 27, 2026
DataAggregated Company Financials
Companies24
- 7D-0.9%
- 3M15.5%
- 1Y-13.4%
- YTD17.0%
Last week, the IT industry hasn't moved much but Bluebik Group is up 5.9% in that time. As for the longer term, the industry has declined 16% in the last year. 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 |
|---|---|---|---|---|---|---|
| Fri, 27 Feb 2026 | ฿48.7b | ฿65.6b | ฿3.3b | 11.2x | 14.5x | 0.7x |
| Sun, 25 Jan 2026 | ฿41.1b | ฿65.3b | ฿3.4b | 10.4x | 12.1x | 0.6x |
| Tue, 23 Dec 2025 | ฿42.2b | ฿65.3b | ฿3.4b | 10.2x | 12.5x | 0.6x |
| Thu, 20 Nov 2025 | ฿42.6b | ฿64.2b | ฿3.3b | 10.5x | 12.8x | 0.7x |
| Sat, 18 Oct 2025 | ฿43.1b | ฿64.2b | ฿3.5b | 10.6x | 12.4x | 0.7x |
| Mon, 15 Sep 2025 | ฿47.3b | ฿64.2b | ฿3.5b | 11.1x | 13.6x | 0.7x |
| Wed, 13 Aug 2025 | ฿48.0b | ฿63.3b | ฿3.4b | 11.4x | 14.1x | 0.8x |
| Fri, 11 Jul 2025 | ฿43.4b | ฿64.6b | ฿3.6b | 10x | 12x | 0.7x |
| Sun, 08 Jun 2025 | ฿45.2b | ฿64.6b | ฿3.6b | 10.5x | 12.5x | 0.7x |
| Tue, 06 May 2025 | ฿50.2b | ฿63.2b | ฿3.7b | 9.5x | 13.6x | 0.8x |
| Thu, 03 Apr 2025 | ฿52.3b | ฿63.2b | ฿3.7b | 10.4x | 14.2x | 0.8x |
| Sat, 01 Mar 2025 | ฿55.8b | ฿60.9b | ฿3.6b | 10x | 15.6x | 0.9x |
| Mon, 27 Jan 2025 | ฿59.7b | ฿60.3b | ฿3.2b | 11.4x | 18.8x | 1x |
| Wed, 25 Dec 2024 | ฿57.7b | ฿60.3b | ฿3.2b | 10.1x | 18.2x | 1x |
| Fri, 22 Nov 2024 | ฿60.1b | ฿60.3b | ฿3.2b | 11.3x | 19x | 1x |
| Sun, 20 Oct 2024 | ฿61.0b | ฿59.2b | ฿3.2b | 11.2x | 19.3x | 1x |
| Tue, 17 Sep 2024 | ฿62.8b | ฿59.2b | ฿3.2b | 11.9x | 19.9x | 1.1x |
| Thu, 15 Aug 2024 | ฿51.1b | ฿58.1b | ฿3.0b | 10.5x | 16.8x | 0.9x |
| Sat, 13 Jul 2024 | ฿57.4b | ฿57.5b | ฿3.0b | 11.5x | 19.3x | 1x |
| Mon, 10 Jun 2024 | ฿111.1b | ฿60.0b | ฿3.1b | 12.2x | 35.7x | 1.9x |
| Wed, 08 May 2024 | ฿105.0b | ฿58.4b | ฿3.3b | 14.7x | 31.3x | 1.8x |
| Fri, 05 Apr 2024 | ฿105.4b | ฿57.8b | ฿3.3b | 13.9x | 31.7x | 1.8x |
| Sun, 03 Mar 2024 | ฿126.4b | ฿56.8b | ฿3.2b | 12.4x | 39.3x | 2.2x |
| Tue, 30 Jan 2024 | ฿124.3b | ฿53.7b | ฿3.1b | 12.1x | 39.7x | 2.3x |
| Thu, 28 Dec 2023 | ฿122.5b | ฿53.7b | ฿3.1b | 12.2x | 39.1x | 2.3x |
| Sat, 25 Nov 2023 | ฿111.8b | ฿53.7b | ฿3.1b | 12.3x | 35.7x | 2.1x |
| Mon, 23 Oct 2023 | ฿94.3b | ฿51.4b | ฿2.9b | 13.2x | 32.3x | 1.8x |
| Wed, 20 Sep 2023 | ฿103.7b | ฿51.0b | ฿2.8b | 14.1x | 36.5x | 2x |
| Fri, 18 Aug 2023 | ฿99.0b | ฿49.9b | ฿2.8b | 14.3x | 35.5x | 2x |
| Sun, 16 Jul 2023 | ฿91.2b | ฿47.7b | ฿2.8b | 14.4x | 33.1x | 1.9x |
| Tue, 13 Jun 2023 | ฿93.8b | ฿47.7b | ฿2.8b | 14.6x | 34x | 2x |
| Thu, 11 May 2023 | ฿93.9b | ฿44.9b | ฿2.4b | 15.7x | 38.4x | 2.1x |
| Sat, 08 Apr 2023 | ฿98.7b | ฿40.3b | ฿2.2b | 16.1x | 43.9x | 2.5x |
| Mon, 06 Mar 2023 | ฿133.1b | ฿45.8b | ฿3.5b | 21.2x | 38.4x | 2.9x |
Price to Earnings Ratio
38.4x
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 24.5x.
- 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 | 2.65% | |
| Tech | 15.96% | |
| IT | -0.85% | |
| Data Processing Services | 6.66% | |
| Internet Services and Infrastructure | 1.25% | |
| IT Consulting | -1.06% | |
Industry PE
- Investors are most optimistic about the IT Consulting industry even though it's trading below its 3-year average PE ratio of 26.5x.
- Analysts are expecting annual earnings growth of 8.7%, which is higher than its past year's earnings growth of 2.4% per year.
Forecasted Growth
- Analysts are most optimistic on the Internet Services and Infrastructure industry, expecting annual earnings growth of 29% 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 8.7% 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 | 5.9% +฿240.0m | -37.1% | PE12.6x | |
| GABLE G-Able | ฿4.10 | 5.7% +฿154.0m | 26.5% | PE9.7x | |
| INET Internet Thailand | ฿4.04 | 3.1% +฿71.6m | -25.2% | PE7.5x | |
| MFEC MFEC | ฿5.85 | 2.6% +฿66.2m | -1.7% | PE11x | |
| SVOA SVOA | ฿1.50 | 2.7% +฿37.9m | 42.9% | PE6.7x |