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Thai (SET) IT Industry Analysis
UpdatedFeb 16, 2026
DataAggregated Company Financials
Companies24
- 7D11.9%
- 3M7.8%
- 1Y-19.4%
- YTD11.7%
Over the last 7 days, the IT industry has risen 12%, driven by gains from Sky ICT of 33%. In contrast, the industry has lost 19% in the last 12 months. 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 |
|---|---|---|---|---|---|---|
| Mon, 16 Feb 2026 | ฿46.4b | ฿65.2b | ฿3.4b | 10.9x | 13.8x | 0.7x |
| Wed, 14 Jan 2026 | ฿40.7b | ฿65.3b | ฿3.4b | 10.4x | 12x | 0.6x |
| Fri, 12 Dec 2025 | ฿42.0b | ฿65.3b | ฿3.4b | 10.1x | 12.4x | 0.6x |
| Sun, 09 Nov 2025 | ฿42.6b | ฿64.3b | ฿3.5b | 10.9x | 12.2x | 0.7x |
| Tue, 07 Oct 2025 | ฿44.7b | ฿64.2b | ฿3.5b | 11x | 12.8x | 0.7x |
| Thu, 04 Sep 2025 | ฿46.1b | ฿64.2b | ฿3.5b | 11x | 13.2x | 0.7x |
| Sat, 02 Aug 2025 | ฿45.3b | ฿64.6b | ฿3.6b | 9.9x | 12.6x | 0.7x |
| Mon, 30 Jun 2025 | ฿41.7b | ฿64.6b | ฿3.6b | 9.6x | 11.6x | 0.6x |
| Wed, 28 May 2025 | ฿46.1b | ฿64.6b | ฿3.6b | 10.3x | 12.8x | 0.7x |
| Fri, 25 Apr 2025 | ฿50.9b | ฿63.2b | ฿3.7b | 10.5x | 13.8x | 0.8x |
| Sun, 23 Mar 2025 | ฿53.1b | ฿63.2b | ฿3.7b | 10.4x | 14.4x | 0.8x |
| Tue, 18 Feb 2025 | ฿57.3b | ฿60.5b | ฿3.2b | 11x | 17.7x | 0.9x |
| Thu, 16 Jan 2025 | ฿53.2b | ฿60.3b | ฿3.2b | 10x | 16.8x | 0.9x |
| Sat, 14 Dec 2024 | ฿59.8b | ฿60.3b | ฿3.2b | 10.2x | 18.9x | 1x |
| Mon, 11 Nov 2024 | ฿62.3b | ฿59.6b | ฿3.2b | 11.3x | 19.7x | 1x |
| Wed, 09 Oct 2024 | ฿63.3b | ฿59.2b | ฿3.2b | 11.7x | 20x | 1.1x |
| Fri, 06 Sep 2024 | ฿60.4b | ฿59.2b | ฿3.2b | 11.4x | 19.1x | 1x |
| Sun, 04 Aug 2024 | ฿49.4b | ฿57.5b | ฿3.0b | 11x | 16.6x | 0.9x |
| Tue, 02 Jul 2024 | ฿98.9b | ฿60.0b | ฿3.1b | 12.2x | 31.7x | 1.6x |
| Thu, 30 May 2024 | ฿109.0b | ฿58.9b | ฿3.0b | 12.9x | 36.3x | 1.8x |
| Sat, 27 Apr 2024 | ฿105.7b | ฿57.8b | ฿3.3b | 14x | 31.8x | 1.8x |
| Mon, 25 Mar 2024 | ฿111.2b | ฿57.8b | ฿3.3b | 14.5x | 33.5x | 1.9x |
| Wed, 21 Feb 2024 | ฿128.6b | ฿53.9b | ฿3.4b | 12.3x | 37.4x | 2.4x |
| Fri, 19 Jan 2024 | ฿120.8b | ฿53.7b | ฿3.1b | 12.6x | 38.6x | 2.2x |
| Sun, 17 Dec 2023 | ฿115.4b | ฿53.7b | ฿3.1b | 11.7x | 36.9x | 2.1x |
| Tue, 14 Nov 2023 | ฿96.8b | ฿52.3b | ฿3.0b | 12.7x | 32.7x | 1.8x |
| Thu, 12 Oct 2023 | ฿100.1b | ฿51.4b | ฿2.9b | 14.1x | 34.3x | 1.9x |
| Sat, 09 Sep 2023 | ฿106.2b | ฿49.9b | ฿2.8b | 14.3x | 38.1x | 2.1x |
| Mon, 07 Aug 2023 | ฿96.3b | ฿47.7b | ฿2.8b | 14.7x | 34.9x | 2x |
| Wed, 05 Jul 2023 | ฿94.1b | ฿47.7b | ฿2.8b | 14.3x | 34.1x | 2x |
| Fri, 02 Jun 2023 | ฿92.9b | ฿47.7b | ฿2.8b | 14.9x | 33.7x | 1.9x |
| Sun, 30 Apr 2023 | ฿85.1b | ฿40.3b | ฿2.2b | 14.2x | 37.9x | 2.1x |
| Tue, 28 Mar 2023 | ฿102.0b | ฿40.3b | ฿2.2b | 16.7x | 45.4x | 2.5x |
| Thu, 23 Feb 2023 | ฿137.1b | ฿45.6b | ฿3.8b | 23.6x | 35.8x | 3x |
Price to Earnings Ratio
35.8x
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 13.8x 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 0.71x.
Past Earnings Growth
- The earnings for companies in the IT industry have declined 4.1% per year 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, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Thai Tech industry?
| TH Market | 5.69% | |
| Tech | 4.54% | |
| IT | 11.92% | |
| Internet Services and Infrastructure | 12.79% | |
| IT Consulting | 11.84% | |
| Data Processing Services | -1.81% | |
Industry PE
- Investors are most optimistic about the IT Consulting industry even though it's trading below its 3-year average PE ratio of 26.8x.
- 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 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 | |
|---|---|---|---|---|---|
| SKY Sky ICT | ฿13.70 | 33.0% +฿2.4b | -35.1% | PE14.4x | |
| BBIK Bluebik Group | ฿17.90 | 20.1% +฿600.0m | -46.6% | PE11.3x | |
| INSET Infraset | ฿2.52 | 24.8% +฿403.3m | 6.8% | PE57.6x | |
| PIS Pro Inside | ฿3.46 | 15.3% +฿248.4m | -42.3% | PE7x | |
| BE8 Beryl 8 Plus | ฿5.65 | 14.4% +฿187.9m | -56.9% | PE17.8x |