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Thai (SET) IT Industry Analysis
UpdatedFeb 28, 2026
DataAggregated Company Financials
Companies24
- 7D2.5%
- 3M17.5%
- 1Y-11.5%
- YTD19.0%
The IT is pretty flat in the last 7 days, but Sky ICT has stood out, gaining 4.9%. Unfortunately though, the industry is down 13% over the past 12 months. 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 |
|---|---|---|---|---|---|---|
| Sat, 28 Feb 2026 | ฿49.5b | ฿65.6b | ฿3.3b | 11.2x | 14.9x | 0.8x |
| Mon, 26 Jan 2026 | ฿41.1b | ฿65.3b | ฿3.4b | 10.4x | 12.1x | 0.6x |
| Wed, 24 Dec 2025 | ฿42.1b | ฿65.3b | ฿3.4b | 10.2x | 12.4x | 0.6x |
| Fri, 21 Nov 2025 | ฿42.5b | ฿64.2b | ฿3.3b | 10.4x | 12.8x | 0.7x |
| Sun, 19 Oct 2025 | ฿43.1b | ฿64.2b | ฿3.5b | 10.6x | 12.4x | 0.7x |
| Tue, 16 Sep 2025 | ฿47.0b | ฿64.2b | ฿3.5b | 11.2x | 13.5x | 0.7x |
| Thu, 14 Aug 2025 | ฿47.0b | ฿63.3b | ฿3.4b | 11.5x | 13.8x | 0.7x |
| Sat, 12 Jul 2025 | ฿43.4b | ฿64.6b | ฿3.6b | 10x | 12x | 0.7x |
| Mon, 09 Jun 2025 | ฿45.2b | ฿64.6b | ฿3.6b | 10.5x | 12.5x | 0.7x |
| Wed, 07 May 2025 | ฿48.3b | ฿63.2b | ฿3.7b | 9.7x | 13.1x | 0.8x |
| Fri, 04 Apr 2025 | ฿52.0b | ฿63.2b | ฿3.7b | 10.5x | 14.1x | 0.8x |
| Sun, 02 Mar 2025 | ฿55.8b | ฿63.1b | ฿3.6b | 10.1x | 15.5x | 0.9x |
| Tue, 28 Jan 2025 | ฿59.9b | ฿60.3b | ฿3.2b | 11.4x | 18.9x | 1x |
| Thu, 26 Dec 2024 | ฿58.0b | ฿60.3b | ฿3.2b | 10.3x | 18.3x | 1x |
| Sat, 23 Nov 2024 | ฿60.2b | ฿60.3b | ฿3.2b | 10.8x | 19x | 1x |
| Mon, 21 Oct 2024 | ฿61.0b | ฿59.2b | ฿3.2b | 11.2x | 19.3x | 1x |
| Wed, 18 Sep 2024 | ฿61.5b | ฿59.2b | ฿3.2b | 11.7x | 19.5x | 1x |
| Fri, 16 Aug 2024 | ฿51.5b | ฿59.0b | ฿3.2b | 10.8x | 16.3x | 0.9x |
| Sun, 14 Jul 2024 | ฿57.4b | ฿57.5b | ฿3.0b | 11.5x | 19.3x | 1x |
| Tue, 11 Jun 2024 | ฿111.1b | ฿60.0b | ฿3.1b | 12x | 35.6x | 1.9x |
| Thu, 09 May 2024 | ฿105.2b | ฿58.2b | ฿3.3b | 14.9x | 31.5x | 1.8x |
| Sat, 06 Apr 2024 | ฿106.5b | ฿57.8b | ฿3.3b | 14.3x | 32.1x | 1.8x |
| Mon, 04 Mar 2024 | ฿126.4b | ฿56.9b | ฿3.2b | 12.9x | 39.4x | 2.2x |
| Wed, 31 Jan 2024 | ฿124.3b | ฿53.7b | ฿3.1b | 12.1x | 39.7x | 2.3x |
| Fri, 29 Dec 2023 | ฿128.6b | ฿53.7b | ฿3.1b | 12.2x | 41.1x | 2.4x |
| Sun, 26 Nov 2023 | ฿111.8b | ฿53.7b | ฿3.1b | 12.3x | 35.7x | 2.1x |
| Tue, 24 Oct 2023 | ฿94.3b | ฿51.4b | ฿2.9b | 13.2x | 32.3x | 1.8x |
| Thu, 21 Sep 2023 | ฿102.7b | ฿51.0b | ฿2.8b | 14.2x | 36.1x | 2x |
| Sat, 19 Aug 2023 | ฿98.1b | ฿49.9b | ฿2.8b | 14.2x | 35.2x | 2x |
| Mon, 17 Jul 2023 | ฿91.2b | ฿47.7b | ฿2.8b | 14.4x | 33.1x | 1.9x |
| Wed, 14 Jun 2023 | ฿93.4b | ฿47.7b | ฿2.8b | 14.7x | 33.9x | 2x |
| Fri, 12 May 2023 | ฿94.9b | ฿44.9b | ฿2.4b | 15.9x | 38.8x | 2.1x |
| Sun, 09 Apr 2023 | ฿98.7b | ฿40.3b | ฿2.2b | 16.1x | 43.9x | 2.5x |
| Tue, 07 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 14.5x 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 | 3.27% | |
| Tech | 17.83% | |
| IT | 2.46% | |
| Data Processing Services | 4.05% | |
| Internet Services and Infrastructure | 3.65% | |
| IT Consulting | 2.33% | |
Industry PE
- Investors are most optimistic about the IT Consulting industry even though it's trading below its 3-year average PE ratio of 26.5x.
- Analysts are expecting annual earnings growth of 8.8%, 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 8.8% 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 | ฿14.90 | 4.9% +฿502.1m | -20.7% | PE15.7x | |
| SVOA SVOA | ฿1.73 | 22.7% +฿303.0m | 63.2% | PE7.7x | |
| BBIK Bluebik Group | ฿22.70 | 6.1% +฿260.0m | -32.7% | PE13.3x | |
| GABLE G-Able | ฿4.10 | 5.7% +฿154.0m | 25.0% | PE9.7x | |
| INSET Infraset | ฿2.82 | 6.0% +฿128.3m | 28.2% | PE64.1x |