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Thai (SET) Telecom Sector Analysis

UpdatedApr 01, 2026
DataAggregated Company Financials
Companies43
  • 7D2.4%
  • 3M20.0%
  • 1Y21.1%
  • YTD17.0%

Over the last 7 days, the Telecom industry has risen 2.4%, driven by gains from True Corporation of 5.1%. In the last 12 months, the industry was up 21%. Looking forward, earnings are forecast to grow by 14% annually.

Sector Valuation and Performance

Has the Thai Telecom Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 02 Apr 2026฿1.8t฿505.2b฿56.8b15.7x31.2x3.5x
Sat, 28 Feb 2026฿1.8t฿506.6b฿58.8b17.9x31.2x3.6x
Mon, 26 Jan 2026฿1.6t฿508.5b฿42.6b15.6x36.9x3.1x
Wed, 24 Dec 2025฿1.5t฿508.5b฿42.6b16.4x35x2.9x
Fri, 21 Nov 2025฿1.5t฿508.4b฿42.4b16.6x35.1x2.9x
Sun, 19 Oct 2025฿1.4t฿509.1b฿34.9b17.3x40.6x2.8x
Tue, 16 Sep 2025฿1.5t฿509.3b฿34.9b19.6x41.8x2.9x
Thu, 14 Aug 2025฿1.5t฿509.9b฿35.7b20.8x41.1x2.9x
Sat, 12 Jul 2025฿1.4t฿507.1b฿29.9b19.5x47x2.8x
Mon, 09 Jun 2025฿1.5t฿507.9b฿29.7b18.9x50x2.9x
Wed, 07 May 2025฿1.5t฿505.6b฿25.1b21x60.2x3x
Fri, 04 Apr 2025฿1.5t฿505.6b฿25.1b23.3x57.8x2.9x
Sun, 02 Mar 2025฿1.7t฿506.6b฿39.4b23.2x43.1x3.4x
Tue, 28 Jan 2025฿1.8t฿561.1b฿51.4b21.9x35.9x3.3x
Thu, 26 Dec 2024฿1.8t฿561.1b฿51.4b22.6x34.9x3.2x
Sat, 23 Nov 2024฿1.8t฿554.0b฿46.0b22.4x39.9x3.3x
Mon, 21 Oct 2024฿1.9t฿556.3b฿49.1b19.8x38.4x3.4x
Wed, 18 Sep 2024฿1.7t฿556.3b฿49.1b20.6x34.8x3.1x
Fri, 16 Aug 2024฿1.6t฿548.9b฿52.1b18.8x30.5x2.9x
Sun, 14 Jul 2024฿1.5t฿546.6b฿46.9b20x31x2.7x
Tue, 11 Jun 2024฿1.4t฿544.0b฿46.7b20.7x29x2.5x
Thu, 09 May 2024฿1.4t฿542.4b฿45.6b22.7x29.7x2.5x
Sat, 06 Apr 2024฿1.3t฿501.5b฿45.2b22.2x29.1x2.6x
Mon, 04 Mar 2024฿1.3t฿502.5b฿47.8b21.1x26.7x2.5x
Wed, 31 Jan 2024฿1.6t฿641.8b฿16.6b22.5x95.9x2.5x
Fri, 29 Dec 2023฿1.6t฿641.8b฿16.6b22.7x93.5x2.4x
Sun, 26 Nov 2023฿1.6t฿641.9b฿16.6b20.6x94.9x2.5x
Tue, 24 Oct 2023฿1.6t฿618.7b฿7.0b29.6x231x2.6x
Thu, 21 Sep 2023฿1.7t฿618.7b฿7.0b32.9x241.8x2.7x
Sat, 19 Aug 2023฿1.7t฿618.9b฿6.8b32.5x245.1x2.7x
Mon, 17 Jul 2023฿1.7t฿603.2b฿8.9b29.1x187.3x2.8x
Wed, 14 Jun 2023฿1.7t฿603.2b฿8.8b33.2x188.3x2.8x
Fri, 12 May 2023฿1.7t฿619.2b฿7.3b31.9x232.6x2.8x
Sun, 09 Apr 2023฿1.7t฿617.7b฿6.9b32.3x247.4x2.8x
Price to Earnings Ratio

247.4x


Total Market Cap: ฿1.7tTotal Earnings: ฿6.9bTotal Revenue: ฿617.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Thai Telecom Sector Price to Earnings3Y Average 78.5x202420252026
Current Industry PE
  • Investors are pessimistic on the Thai Communication Services 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 31.2x which is lower than its 3-year average PE of 78.7x.
  • The 3-year average PS ratio of 2.9x is lower than the industry's current PS ratio of 3.5x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have grown 102% per year over the last three years.
  • Meanwhile revenues for these companies have declined 6.5% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

Which industries have driven the changes within the Thai Telecom sector?

TH Market2.67%
Telecom2.42%
Telecom Services and Carriers4.39%
Media4.03%
Entertainment2.50%
Wireless Telecom1.36%
Interactive Media and Services0%0
Industry PE
  • Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 11.4%, which is higher than its past year's earnings growth of 5.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Telecom Services and Carriers industry, expecting annual earnings growth of 30% over the next 5 years.
  • This is better than its past earnings decline of 41% per year.
  • In contrast, the Entertainment industry is expected to see its earnings grow by 3.1% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
TRUE True Corporation฿14.502.8%
+฿13.8b		21.8%PE54.2x
VGI VGI฿0.9510.5%
+฿1.9b		-69.0%PE77.3x
PLANB Plan B Media฿4.067.4%
+฿1.3b		-28.1%PE16.9x
JTS Jasmine Technology Solution฿55.002.3%
+฿873.4m		100.0%PE5404x
ONEE ONE Enterprise฿2.706.3%
+฿381.0m		3.8%PE14.3x

Latest News

DV8
฿4.96
DV8
7D
1.6%
1Y
1,027.3%
ONEE
฿2.70
ONE Enterprise
7D
6.3%
1Y
3.8%
THCOM
฿12.30
Thaicom
7D
-0.8%
1Y
23.0%
TRUE
฿14.50
True Corporation
7D
2.8%
1Y
21.8%

TRUE: Court Win And Governance Changes Will Support Future Upside

Analysts have raised the price target for True Corporation to THB19.0 from THB18.2, citing updated assumptions for the discount rate, revenue growth, profit margin, and a higher expected future P/E multiple. What's in the News Arise Digital Technology completed the acquisition of a 24.95% stake in True Corporation from Telenor ASA for about THB100b at THB11.70 per share on March 13, 2026, with Telenor retaining a 5.35% stake under a mutual put or call option arrangement (Key Developments).
ADVANC
฿365.00
Advanced Info Service
7D
-1.6%
1Y
31.8%

ADVANC: Ordinary And Special Dividends Will Support A Steady Outlook

Analysts have lifted their fair value estimate for Advanced Info Service to THB386.17 from THB379.42, citing updated assumptions for revenue growth, profit margin and future P/E that modestly adjust their outlook for the shares. What's in the News The board meeting on 3 February 2026 reviewed dividends, financial assistance via subsidiary AIS DC Venture Company Limited, and the agenda for the 2026 Annual General Meeting of Shareholders, setting the context for capital allocation decisions (Key Developments).
ITEL
฿1.20
Interlink Telecom
7D
4.3%
1Y
-12.4%
CEYE
฿1.37
Chamni's Eye
7D
-8.1%
1Y
-38.8%
RS
฿0.20
RS
7D
25.0%
1Y
-67.7%
AQUA
฿0.12
Aqua Corporation
7D
-7.7%
1Y
-45.5%
GRAMMY
฿3.62
GMM Grammy
7D
-4.7%
1Y
-39.7%
B52
฿0.27
B-52 Capital
7D
-3.6%
1Y
35.0%
CMO
฿0.70
CMO
7D
-2.8%
1Y
11.1%
JTS
฿55.00
Jasmine Technology Solution
7D
2.3%
1Y
100.0%
LTMH
฿4.70
LTMH
7D
-1.3%
1Y
-6.9%
VGI
฿0.95
VGI
7D
10.5%
1Y
-69.0%
PLANB
฿4.06
Plan B Media
7D
7.4%
1Y
-28.1%