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Thai (SET) Utilities Sector Analysis

UpdatedFeb 29, 2024
DataAggregated Company Financials
Companies32
  • 7D-2.9%
  • 3M-2.7%
  • 1Y-23.7%
  • YTD-4.8%

Over the last 7 days, the Utilities industry has dropped 2.9%, driven by Energy Absolute declining 13%. The industry has fallen 24% in the last year. Looking forward, earnings are forecast to grow by 15% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 01 Mar 2024฿1.3t฿534.4b฿60.7b13.4x21.5x2.4x
Sun, 28 Jan 2024฿1.3t฿564.3b฿60.2b14.4x21.9x2.3x
Tue, 26 Dec 2023฿1.3t฿564.2b฿60.3b13.5x22.1x2.4x
Thu, 23 Nov 2023฿1.4t฿564.2b฿60.3b14.5x22.4x2.4x
Sat, 21 Oct 2023฿1.3t฿586.3b฿57.1b13x22x2.1x
Mon, 18 Sep 2023฿1.5t฿586.3b฿57.1b14.8x25.6x2.5x
Wed, 16 Aug 2023฿1.5t฿590.7b฿54.4b13.6x27.1x2.5x
Fri, 14 Jul 2023฿1.5t฿588.0b฿53.4b13.1x27.5x2.5x
Sun, 11 Jun 2023฿1.5t฿588.0b฿53.4b14.1x29x2.6x
Tue, 09 May 2023฿1.7t฿575.0b฿55.7b12.6x30.2x2.9x
Thu, 06 Apr 2023฿1.7t฿575.0b฿55.7b13.6x31x3x
Sat, 04 Mar 2023฿1.7t฿560.3b฿59.1b15.8x28.4x3x
Mon, 30 Jan 2023฿1.8t฿520.1b฿61.8b17.5x29.8x3.5x
Wed, 28 Dec 2022฿1.9t฿515.7b฿61.5b17.9x30.4x3.6x
Fri, 25 Nov 2022฿1.8t฿514.9b฿61.4b18.1x29.8x3.6x
Sun, 23 Oct 2022฿1.7t฿451.2b฿63.4b16.8x27.6x3.9x
Tue, 20 Sep 2022฿1.8t฿451.2b฿63.4b17.9x28.9x4.1x
Thu, 18 Aug 2022฿1.8t฿450.3b฿63.2b16.1x28.3x4x
Sat, 16 Jul 2022฿1.7t฿407.6b฿70.1b13.7x24.6x4.2x
Mon, 13 Jun 2022฿1.7t฿407.6b฿70.1b15x24.9x4.3x
Wed, 11 May 2022฿1.7t฿361.5b฿65.3b20.5x25.6x4.6x
Fri, 08 Apr 2022฿1.8t฿361.5b฿65.3b21.6x27.5x5x
Sun, 06 Mar 2022฿1.8t฿363.4b฿65.3b21.3x27.8x5x
Tue, 01 Feb 2022฿1.8t฿333.9b฿66.7b19.4x27.6x5.5x
Thu, 30 Dec 2021฿1.8t฿336.1b฿66.9b18.7x27.4x5.5x
Sat, 27 Nov 2021฿1.7t฿336.1b฿66.9b19x25.3x5x
Mon, 25 Oct 2021฿1.7t฿326.8b฿68.3b19.6x24.7x5.2x
Wed, 22 Sep 2021฿1.7t฿326.8b฿68.3b19.6x24.3x5.1x
Fri, 20 Aug 2021฿1.6t฿324.9b฿68.2b18.3x23.7x5x
Fri, 04 Jun 2021฿1.6t฿318.7b฿69.2b20x22.6x4.9x
Mon, 08 Mar 2021฿1.5t฿323.2b฿62.4b19.6x24.7x4.8x
Price to Earnings Ratio

24.7x


Total Market Cap: ฿1.5tTotal Earnings: ฿62.4bTotal Revenue: ฿323.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Thai Utilities Sector Price to Earnings3Y Average 26.1x202220232024
Current Industry PE
  • Investors are pessimistic on the Thai Utilities 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 21.5x which is lower than its 3-year average PE of 26.1x.
  • The 3-year average PS ratio of 3.9x is higher than the industry's current PS ratio of 2.4x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 18% 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 Utilities sector?

TH Market-0.76%
Utilities-2.89%
Other Utilities0%
Water Utilities-2.02%
Renewable Energy-2.91%
Gas Utilities-3.83%
Electric Utilities-4.88%
Industry PE
  • Investors are most optimistic about the Gas Utilities industry which is trading above its 3-year average PE ratio of 54.8x.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
  • Investors are most pessimistic about the Electric Utilities industry, which is trading close to its 3-year average of 10.4x.
Forecasted Growth
  • Analysts are most optimistic on the Electric Utilities industry, expecting annual earnings growth of 31% over the next 5 years.
  • This is better than its past earnings decline of 11% per year.
  • In contrast, the Water Utilities industry is expected to see its earnings decline by 2.9% 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
ACE Absolute Clean Energy฿1.522.7%
+฿403.0m
-37.2%PE13.9x
SPCG SPCG฿12.500.8%
+฿105.6m
-13.2%PE7.2x
ETC Earth Tech Environment฿2.680.8%
+฿44.8m
-36.2%PE193.7x
TGE Thachang Green Energy฿3.120.6%
+฿44.0m
79.3%PE28.6x
TPCH TPC Power Holding฿6.701.5%
+฿40.1m
-5.0%PE9.3x
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