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Thai (SET) Utilities Sector Analysis

UpdatedJun 08, 2025
DataAggregated Company Financials
Companies33
  • 7D-1.3%
  • 3M-0.9%
  • 1Y-38.6%
  • YTD-13.8%

Over the last 7 days, the Utilities industry has dropped 1.3%, driven by a pullback from Gulf Development of 2.8%. On the other hand B.Grimm Power is actually up 6.7%. However, the industry is down 39% over the past year. Looking forward, earnings are forecast to grow by 11% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 09 Jun 2025฿1.1t฿474.2b฿51.0b12.3x21.8x2.3x
Wed, 07 May 2025฿1.2t฿486.5b฿48.3b12.1x24.1x2.4x
Fri, 04 Apr 2025฿419.8b฿365.7b฿30.1b11.4x13.9x1.1x
Sun, 02 Mar 2025฿1.0t฿491.0b฿40.0b12.5x25.6x2.1x
Tue, 28 Jan 2025฿1.2t฿492.5b฿39.9b12.9x30.1x2.4x
Thu, 26 Dec 2024฿1.3t฿492.5b฿39.9b13.9x31.7x2.6x
Sat, 23 Nov 2024฿1.3t฿492.7b฿40.1b14.5x33.4x2.7x
Mon, 21 Oct 2024฿1.4t฿501.8b฿38.0b14.1x38.2x2.9x
Wed, 18 Sep 2024฿1.3t฿501.8b฿38.0b12.9x34.3x2.6x
Fri, 16 Aug 2024฿1.1t฿504.9b฿37.8b13.5x29x2.2x
Sun, 14 Jul 2024฿1.1t฿509.0b฿37.3b13x29.9x2.2x
Tue, 11 Jun 2024฿1.1t฿509.0b฿37.3b13.1x30.4x2.2x
Thu, 09 May 2024฿1.2t฿521.0b฿42.7b14.7x28.9x2.4x
Sat, 06 Apr 2024฿1.3t฿520.9b฿42.7b15.2x29.6x2.4x
Mon, 04 Mar 2024฿1.3t฿520.9b฿43.5b14.8x29.4x2.5x
Wed, 31 Jan 2024฿1.3t฿564.3b฿60.2b14.3x22.1x2.4x
Fri, 29 Dec 2023฿1.3t฿564.2b฿60.3b14x22.2x2.4x
Sun, 26 Nov 2023฿1.3t฿564.2b฿60.3b13.5x22x2.4x
Tue, 24 Oct 2023฿1.3t฿586.3b฿57.1b13x22x2.1x
Thu, 21 Sep 2023฿1.4t฿586.3b฿57.1b13.9x24.8x2.4x
Sat, 19 Aug 2023฿1.5t฿586.2b฿57.3b13.7x25.9x2.5x
Mon, 17 Jul 2023฿1.5t฿588.0b฿53.4b13.2x27.9x2.5x
Wed, 14 Jun 2023฿1.6t฿588.0b฿53.4b14x29x2.6x
Fri, 12 May 2023฿1.7t฿575.0b฿56.5b12.6x29.5x2.9x
Sun, 09 Apr 2023฿1.7t฿575.0b฿55.7b13.7x30.9x3x
Tue, 07 Mar 2023฿1.7t฿567.8b฿57.0b15.8x29.5x3x
Thu, 02 Feb 2023฿1.9t฿520.1b฿61.8b17.5x30x3.6x
Sat, 31 Dec 2022฿1.9t฿515.7b฿61.5b18x30.8x3.7x
Mon, 28 Nov 2022฿1.8t฿514.9b฿61.4b17.8x29.6x3.5x
Wed, 26 Oct 2022฿1.8t฿451.2b฿63.4b16.4x27.8x3.9x
Fri, 23 Sep 2022฿1.8t฿451.2b฿63.4b17.6x29.1x4.1x
Sun, 21 Aug 2022฿1.8t฿451.0b฿63.4b18.2x28x3.9x
Tue, 19 Jul 2022฿1.7t฿407.6b฿70.1b13.7x24.6x4.2x
Thu, 16 Jun 2022฿1.7t฿407.6b฿70.1b15.4x24x4.1x
Price to Earnings Ratio

24x


Total Market Cap: ฿1.7tTotal Earnings: ฿70.1bTotal Revenue: ฿407.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Thai Utilities Sector Price to Earnings3Y Average 27.8x202320242025
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 21.8x which is lower than its 3-year average PE of 27.8x.
  • The 3-year average PS ratio of 2.8x is higher than the industry's current PS ratio of 2.3x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have declined 10% per year over the last three years.
  • Meanwhile revenues for these companies have grown 5.2% 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 Utilities sector?

TH Market-1.11%
Utilities-1.30%
Gas Utilities3.41%
Water Utilities0.55%
Electric Utilities-0.88%
Renewable Energy-1.39%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry even though it's trading below its 3-year average PE ratio of 30.1x.
    • Analysts are expecting annual earnings growth of 11.6%, which is higher than its past year's earnings growth of 8.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 12% over the next 5 years.
  • This is better than its past earnings growth rate of 8.0% per year.
  • In contrast, the Electric Utilities industry is expected to see its earnings decline by 20% 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
BGRIM B.Grimm Power฿10.406.7%
+฿1.7b
-57.0%PE28.2x
GUNKUL Gunkul Engineering฿1.588.2%
+฿1.0b
-36.8%PE7.9x
RATCH Ratch Group฿25.751.0%
+฿543.7m
-6.4%PE9.6x
EGCO Electricity Generating฿107.000.9%
+฿526.5m
4.4%PE7.7x
CKP CK Power฿2.841.4%
+฿325.2m
-26.4%PE12.3x
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Latest News

TTW

฿8.75

TTW

7D

0.6%

1Y

-1.7%

RATCH

฿25.75

Ratch Group

7D

1.0%

1Y

-6.4%

ROJNA

฿4.52

Rojana Industrial Park

7D

-0.9%

1Y

-27.7%

GUNKUL

฿1.58

Gunkul Engineering

7D

8.2%

1Y

-36.8%

ETC

฿1.27

Earth Tech Environment

7D

-3.8%

1Y

-41.7%

EA

฿2.94

Energy Absolute

7D

1.4%

1Y

-86.3%

NOVA

฿10.10

Nova Empire

7D

16.8%

1Y

-9.8%

SUPER

฿0.16

Super Energy Corporation

7D

-5.9%

1Y

-44.8%

EGCO

฿107.00

Electricity Generating

7D

0.9%

1Y

4.4%

BGRIM

฿10.40

B.Grimm Power

7D

6.7%

1Y

-57.0%

TGE

฿1.44

Thachang Green Energy

7D

-4.0%

1Y

-51.4%

GULF

฿43.75

Gulf Development

7D

-2.8%

1Y

n/a

CKP

฿2.84

CK Power

7D

1.4%

1Y

-26.4%

SCG

฿2.02

Ratch Pathana Energy

7D

-1.0%

1Y

-42.9%

TPIPP

฿2.20

TPI Polene Power

7D

-1.8%

1Y

-33.3%

TPCH

฿2.96

TPC Power Holding

7D

-3.9%

1Y

-57.4%