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Thai (SET) IT Industry Analysis
UpdatedFeb 26, 2026
DataAggregated Company Financials
Companies24
- 7D-0.5%
- 3M14.8%
- 1Y-16.4%
- YTD16.3%
In the last week, the IT industry is up 2.1%, with G-Able leading the way, up 9.1%. In the past year, the industry is down 14%. 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, 26 Feb 2026 | ฿48.4b | ฿65.6b | ฿3.4b | 11.2x | 14.4x | 0.7x |
| Sat, 24 Jan 2026 | ฿41.1b | ฿65.3b | ฿3.4b | 10.4x | 12.1x | 0.6x |
| Mon, 22 Dec 2025 | ฿42.1b | ฿65.3b | ฿3.4b | 10.1x | 12.4x | 0.6x |
| Wed, 19 Nov 2025 | ฿42.9b | ฿64.2b | ฿3.3b | 10.4x | 12.9x | 0.7x |
| Fri, 17 Oct 2025 | ฿43.7b | ฿64.2b | ฿3.5b | 10.7x | 12.5x | 0.7x |
| Sun, 14 Sep 2025 | ฿47.3b | ฿64.2b | ฿3.5b | 11.1x | 13.6x | 0.7x |
| Tue, 12 Aug 2025 | ฿48.0b | ฿63.3b | ฿3.4b | 11.4x | 14.1x | 0.8x |
| Thu, 10 Jul 2025 | ฿43.4b | ฿64.6b | ฿3.6b | 10x | 12x | 0.7x |
| Sat, 07 Jun 2025 | ฿45.2b | ฿64.6b | ฿3.6b | 10.5x | 12.5x | 0.7x |
| Mon, 05 May 2025 | ฿50.2b | ฿63.2b | ฿3.7b | 9.5x | 13.6x | 0.8x |
| Wed, 02 Apr 2025 | ฿52.2b | ฿63.2b | ฿3.7b | 10.2x | 14.2x | 0.8x |
| Fri, 28 Feb 2025 | ฿56.0b | ฿61.0b | ฿3.4b | 9.7x | 16.4x | 0.9x |
| Sun, 26 Jan 2025 | ฿59.7b | ฿60.3b | ฿3.2b | 11.4x | 18.8x | 1x |
| Tue, 24 Dec 2024 | ฿57.3b | ฿60.3b | ฿3.2b | 10.1x | 18.1x | 1x |
| Thu, 21 Nov 2024 | ฿61.0b | ฿59.5b | ฿3.1b | 12.3x | 19.8x | 1x |
| Sat, 19 Oct 2024 | ฿61.0b | ฿59.2b | ฿3.2b | 11.2x | 19.3x | 1x |
| Mon, 16 Sep 2024 | ฿61.4b | ฿59.2b | ฿3.2b | 11.6x | 19.4x | 1x |
| Wed, 14 Aug 2024 | ฿50.1b | ฿58.2b | ฿3.0b | 10.3x | 16.9x | 0.9x |
| Fri, 12 Jul 2024 | ฿57.8b | ฿57.5b | ฿3.0b | 11.4x | 19.4x | 1x |
| Sun, 09 Jun 2024 | ฿111.1b | ฿60.4b | ฿3.2b | 12.2x | 35x | 1.8x |
| Tue, 07 May 2024 | ฿104.5b | ฿58.4b | ฿3.3b | 14.5x | 31.2x | 1.8x |
| Thu, 04 Apr 2024 | ฿106.1b | ฿57.8b | ฿3.3b | 14x | 32x | 1.8x |
| Sat, 02 Mar 2024 | ฿126.4b | ฿56.2b | ฿3.2b | 12.1x | 38.9x | 2.2x |
| Mon, 29 Jan 2024 | ฿120.2b | ฿53.7b | ฿3.1b | 12.4x | 38.4x | 2.2x |
| Wed, 27 Dec 2023 | ฿118.2b | ฿53.7b | ฿3.1b | 12.3x | 37.8x | 2.2x |
| Fri, 24 Nov 2023 | ฿113.1b | ฿53.7b | ฿3.1b | 12.5x | 36.1x | 2.1x |
| Sun, 22 Oct 2023 | ฿94.3b | ฿51.4b | ฿2.9b | 13.2x | 32.3x | 1.8x |
| Tue, 19 Sep 2023 | ฿103.6b | ฿49.9b | ฿2.8b | 13.9x | 37.2x | 2.1x |
| Thu, 17 Aug 2023 | ฿95.3b | ฿49.4b | ฿2.7b | 13.9x | 34.7x | 1.9x |
| Sat, 15 Jul 2023 | ฿91.2b | ฿47.7b | ฿2.8b | 14.4x | 33.1x | 1.9x |
| Mon, 12 Jun 2023 | ฿95.2b | ฿47.7b | ฿2.8b | 14.7x | 34.5x | 2x |
| Wed, 10 May 2023 | ฿90.8b | ฿44.9b | ฿2.4b | 15.1x | 37.2x | 2x |
| Fri, 07 Apr 2023 | ฿99.1b | ฿40.3b | ฿2.2b | 16.1x | 44.1x | 2.5x |
| Sun, 05 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 14.6x 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 | 3.38% | |
| Tech | 17.36% | |
| IT | -0.49% | |
| Data Processing Services | 5.31% | |
| Internet Services and Infrastructure | -0.19% | |
| IT Consulting | -0.52% | |
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 8.8%, which is higher than its past year's earnings growth of 7.8% 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 8.8% 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 | |
|---|---|---|---|---|---|
| GABLE G-Able | ฿4.08 | 9.1% +฿238.0m | 17.9% | PE9.7x | |
| BBIK Bluebik Group | ฿21.20 | 5.0% +฿200.0m | -40.3% | PE12.4x | |
| MFEC MFEC | ฿5.80 | 4.5% +฿110.4m | -3.3% | PE10.9x | |
| INET Internet Thailand | ฿4.04 | 3.1% +฿71.6m | -27.9% | PE7.5x | |
| ITNS International Network System | ฿2.02 | 15.4% +฿56.4m | 28.7% | PE10.1x |