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Thai (SET) Software Industry Analysis
UpdatedJul 11, 2025
DataAggregated Company Financials
Companies5
- 7D1.0%
- 3M4.1%
- 1Y-10.2%
- YTD-1.5%
The Software is pretty flat in the last 7 days, but BlueVenture Group has stood out, gaining 11%. As for the longer term, the industry has declined 10% in the last year. Looking forward, earnings are forecast to grow by 5.3% 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 |
|---|---|---|---|---|---|---|
| Sat, 12 Jul 2025 | ฿7.3b | ฿2.0b | ฿63.4m | 19.5x | 114.5x | 3.6x |
| Mon, 09 Jun 2025 | ฿7.1b | ฿2.0b | ฿63.4m | 20.5x | 112.2x | 3.6x |
| Wed, 07 May 2025 | ฿7.3b | ฿1.9b | ฿46.9m | 22.4x | 156.2x | 4x |
| Fri, 04 Apr 2025 | ฿7.2b | ฿1.9b | ฿46.9m | 22.8x | 153.4x | 3.9x |
| Sun, 02 Mar 2025 | ฿6.6b | ฿1.9b | ฿46.9m | 21.3x | 141.4x | 3.6x |
| Tue, 28 Jan 2025 | ฿6.7b | ฿1.8b | -฿33,600,519.00 | 15.5x | -200.4x | 3.7x |
| Thu, 26 Dec 2024 | ฿7.4b | ฿1.8b | -฿33,600,519.00 | 17.6x | -219.2x | 4x |
| Sat, 23 Nov 2024 | ฿7.0b | ฿1.8b | -฿33,600,519.00 | 16x | -207.6x | 3.8x |
| Mon, 21 Oct 2024 | ฿7.5b | ฿1.8b | -฿74,817,742.00 | 18.1x | -99.7x | 4.2x |
| Wed, 18 Sep 2024 | ฿7.9b | ฿1.8b | -฿74,817,742.00 | 19.2x | -105x | 4.4x |
| Fri, 16 Aug 2024 | ฿6.5b | ฿1.8b | -฿75,740,542.00 | 15x | -85.6x | 3.6x |
| Sun, 14 Jul 2024 | ฿8.0b | ฿1.7b | -฿194,104,900.00 | 19.8x | -41.4x | 4.6x |
| Tue, 11 Jun 2024 | ฿7.5b | ฿1.8b | -฿177,063,700.00 | 19.4x | -42.2x | 4.2x |
| Thu, 09 May 2024 | ฿9.9b | ฿1.8b | -฿208,335,090.00 | 27.4x | -47.6x | 5.5x |
| Sat, 06 Apr 2024 | ฿10.1b | ฿1.8b | -฿208,335,090.00 | 28x | -48.3x | 5.6x |
| Mon, 04 Mar 2024 | ฿10.1b | ฿1.8b | -฿215,940,854.00 | 26x | -46.6x | 5.6x |
| Wed, 31 Jan 2024 | ฿8.4b | ฿1.7b | ฿312.5m | 24.1x | 26.8x | 4.9x |
| Fri, 29 Dec 2023 | ฿8.9b | ฿1.7b | ฿312.5m | 25.1x | 28.3x | 5.2x |
| Sun, 26 Nov 2023 | ฿7.6b | ฿1.7b | ฿312.5m | 23.4x | 24.2x | 4.4x |
| Tue, 24 Oct 2023 | ฿8.0b | ฿1.6b | ฿272.5m | 26.6x | 29.3x | 4.9x |
| Thu, 21 Sep 2023 | ฿9.2b | ฿1.6b | ฿272.5m | 33.8x | 33.6x | 5.7x |
| Sat, 19 Aug 2023 | ฿9.1b | ฿1.6b | ฿272.5m | 35.1x | 33.5x | 5.6x |
| Mon, 17 Jul 2023 | ฿10.3b | ฿1.5b | ฿281.3m | 39.7x | 36.8x | 6.9x |
| Wed, 14 Jun 2023 | ฿9.4b | ฿1.1b | ฿225.8m | 47.8x | 41.8x | 8.6x |
| Fri, 12 May 2023 | ฿11.4b | ฿972.8m | ฿232.9m | 61.6x | 48.8x | 11.7x |
| Sun, 09 Apr 2023 | ฿22.2b | ฿2.0b | ฿413.8m | 55.1x | 53.7x | 10.9x |
| Tue, 07 Mar 2023 | ฿23.1b | ฿2.0b | ฿237.8m | 66.2x | 97.2x | 11.5x |
| Thu, 02 Feb 2023 | ฿21.9b | ฿1.6b | ฿201.1m | 55.9x | 109.1x | 13.8x |
| Sat, 31 Dec 2022 | ฿18.5b | ฿1.6b | ฿201.1m | 48.7x | 91.9x | 11.6x |
| Mon, 28 Nov 2022 | ฿18.4b | ฿1.6b | ฿201.1m | 48.5x | 91.4x | 11.6x |
| Wed, 26 Oct 2022 | ฿19.9b | ฿1.4b | ฿254.7m | 66.8x | 78.3x | 13.8x |
| Fri, 23 Sep 2022 | ฿20.3b | ฿1.4b | ฿254.7m | 66.2x | 79.9x | 14x |
| Sun, 21 Aug 2022 | ฿20.7b | ฿1.4b | ฿254.7m | 69x | 81.2x | 14.3x |
| Tue, 19 Jul 2022 | ฿18.9b | ฿1.4b | ฿247.8m | 42.4x | 76.4x | 13.7x |
Price to Earnings Ratio
76.4x
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 114x which is higher than its 3-year average PE of 12.6x.
- The 3-year average PS ratio of 7.0x is higher than the industry's current PS ratio of 3.6x.
Past Earnings Growth
- The earnings for companies in the Software industry have declined 37% 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 | -1.49% | |
| Tech | -3.57% | |
| Software | 0.95% | |
| Application Software | 1.03% | |
| Systems Software | 0% | 0 |
Industry PE
- Investors are most optimistic about the Application Software industry which is trading above its 3-year average PE ratio of 40.3x.
- Analysts are expecting annual earnings growth of 5.3%, which is lower than the prior year's growth of 7.2% per year.
- Investors are most pessimistic about the Systems Software industry, which is trading close to its 3-year average of 20.7x.
Forecasted Growth
- Analysts are most optimistic on the Application Software industry, expecting annual earnings growth of 5.3% over the next 5 years.
- However this is lower than its past earnings growth rate of 7.2% per year.
- In contrast, the Application Software industry is expected to see its earnings grow by 5.3% 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 | |
|---|---|---|---|---|---|
| BVG BlueVenture Group | ฿1.91 | 27.3% +฿184.5m | -33.7% | PE16.1x | |
| NETBAY Netbay | ฿20.60 | 2.0% +฿80.0m | 15.1% | PE17.2x |