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Thai (SET) Software Industry Analysis
UpdatedFeb 26, 2026
DataAggregated Company Financials
Companies4
- 7D0.9%
- 3M15.3%
- 1Y20.7%
- YTD10.7%
The Software industry is up 2.4% in the last week, with Netbay up 1.3%. In the last 12 months, the industry was up 29%. Earnings are forecast to grow by 7.2% annually.
Industry Valuation and Performance
Has the Thai Software Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 26 Feb 2026 | ฿6.2b | ฿1.8b | ฿162.0m | 17.7x | 38x | 3.3x |
| Sat, 24 Jan 2026 | ฿5.6b | ฿1.8b | ฿161.4m | 15.9x | 34.8x | 3.1x |
| Mon, 22 Dec 2025 | ฿5.6b | ฿1.8b | ฿161.4m | 15.7x | 34.5x | 3x |
| Wed, 19 Nov 2025 | ฿5.4b | ฿1.8b | ฿148.2m | 15.4x | 36.5x | 3x |
| Fri, 17 Oct 2025 | ฿5.5b | ฿1.8b | ฿373.5m | 14.8x | 14.7x | 3.1x |
| Sun, 14 Sep 2025 | ฿6.0b | ฿1.8b | ฿373.5m | 15.9x | 16.2x | 3.4x |
| Tue, 12 Aug 2025 | ฿6.1b | ฿1.7b | ฿358.7m | 17.9x | 17.1x | 3.6x |
| Thu, 10 Jul 2025 | ฿7.3b | ฿2.0b | ฿63.4m | 19.5x | 114.5x | 3.6x |
| Sat, 07 Jun 2025 | ฿7.1b | ฿2.0b | ฿63.4m | 20.5x | 112.2x | 3.6x |
| Mon, 05 May 2025 | ฿7.5b | ฿1.9b | ฿46.9m | 23.2x | 159.8x | 4x |
| Wed, 02 Apr 2025 | ฿7.1b | ฿1.9b | ฿46.9m | 22.9x | 152.2x | 3.9x |
| Fri, 28 Feb 2025 | ฿6.6b | ฿1.9b | ฿32.3m | 15.7x | 205x | 3.6x |
| Sun, 26 Jan 2025 | ฿6.8b | ฿1.8b | -฿33,600,519.00 | 15.4x | -201.3x | 3.7x |
| Tue, 24 Dec 2024 | ฿7.2b | ฿1.8b | -฿33,600,519.00 | 17.1x | -214x | 3.9x |
| Thu, 21 Nov 2024 | ฿7.0b | ฿1.8b | -฿28,901,326.00 | 16.4x | -241.5x | 3.8x |
| Sat, 19 Oct 2024 | ฿7.5b | ฿1.8b | -฿74,817,742.00 | 18.1x | -99.7x | 4.2x |
| Mon, 16 Sep 2024 | ฿7.9b | ฿1.8b | -฿74,817,742.00 | 19.5x | -105.8x | 4.4x |
| Wed, 14 Aug 2024 | ฿6.4b | ฿1.8b | -฿81,766,542.00 | 14.6x | -78.4x | 3.6x |
| Fri, 12 Jul 2024 | ฿8.0b | ฿1.7b | -฿194,104,900.00 | 19.6x | -41.1x | 4.6x |
| Sun, 09 Jun 2024 | ฿7.5b | ฿1.8b | -฿160,700,700.00 | 20.6x | -46.5x | 4.1x |
| Tue, 07 May 2024 | ฿9.7b | ฿1.8b | -฿208,335,090.00 | 26.6x | -46.5x | 5.4x |
| Thu, 04 Apr 2024 | ฿10.3b | ฿1.8b | -฿208,335,090.00 | 28.7x | -49.2x | 5.7x |
| Sat, 02 Mar 2024 | ฿10.1b | ฿1.8b | -฿215,940,854.00 | 26x | -46.6x | 5.6x |
| Mon, 29 Jan 2024 | ฿8.5b | ฿1.7b | ฿312.5m | 24.9x | 27.3x | 5x |
| Wed, 27 Dec 2023 | ฿8.6b | ฿1.7b | ฿312.5m | 24x | 27.5x | 5x |
| Fri, 24 Nov 2023 | ฿7.6b | ฿1.7b | ฿312.5m | 23.6x | 24.4x | 4.4x |
| Sun, 22 Oct 2023 | ฿8.0b | ฿1.6b | ฿272.5m | 26.6x | 29.3x | 4.9x |
| Tue, 19 Sep 2023 | ฿9.2b | ฿1.6b | ฿272.5m | 34.2x | 33.8x | 5.7x |
| Thu, 17 Aug 2023 | ฿9.1b | ฿1.6b | ฿276.1m | 32.9x | 33.1x | 5.6x |
| Sat, 15 Jul 2023 | ฿10.3b | ฿1.5b | ฿281.3m | 39.7x | 36.8x | 6.9x |
| Mon, 12 Jun 2023 | ฿9.3b | ฿1.1b | ฿225.8m | 47x | 41.1x | 8.4x |
| Wed, 10 May 2023 | ฿11.2b | ฿972.8m | ฿232.9m | 58.3x | 48x | 11.5x |
| Fri, 07 Apr 2023 | ฿22.3b | ฿2.0b | ฿413.8m | 55.6x | 54x | 11x |
| Sun, 05 Mar 2023 | ฿23.1b | ฿2.0b | ฿237.8m | 66.2x | 97.2x | 11.5x |
Price to Earnings Ratio
97.2x
Current Industry PE
- Investors are optimistic on the Thai Software industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 38.0x which is higher than its 3-year average PE of -0.19x.
- The 3-year average PS ratio of 4.9x is higher than the industry's current PS ratio of 3.3x.
Past Earnings Growth
- The earnings for companies in the Software industry have declined 12% per year over the last three years,
- Revenues have also declined 3.0% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Trends
Which industries have driven the changes within the Thai Tech industry?
| TH Market | 3.38% | |
| Tech | 17.36% | |
| Software | 0.91% | |
| Systems Software | 1.03% | |
| Application Software | 0.90% | |
Industry PE
- Investors are most optimistic about the Systems Software industry which is trading above its 3-year average PE ratio of 48.1x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Application Software industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 27.3x.
Forecasted Growth
- Analysts are most optimistic on the Application Software industry, expecting annual earnings growth of 7.2% over the next 5 years.
- However this is lower than its past earnings growth rate of 25% per year.
- In contrast, the Application Software industry is expected to see its earnings grow by 7.2% 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 | |
|---|---|---|---|---|---|
| NETBAY Netbay | ฿24.30 | 1.3% +฿60.0m | 39.7% | PE17.7x | |
| COMAN Comanche International | ฿0.46 | 7.0% +฿5.0m | -19.3% | PS0.5x | |
| TBN TBN Corporation | ฿3.94 | 1.0% +฿4.0m | -37.0% | PE252.2x |