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Thai (SET) Utilities Sector Analysis
UpdatedFeb 21, 2025
DataAggregated Company Financials
Companies33
- 7D-5.9%
- 3M-20.7%
- 1Y-21.2%
- YTD-12.0%
Over the last 7 days, the Utilities industry has dropped 5.9%, driven by Gulf Energy Development declining 11%. On the other hand Global Power Synergy is actually up 5.7%. However, the industry is down 21% over the past 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?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 21 Feb 2025 | ฿1.1t | ฿495.3b | ฿39.2b | 12.4x | 27.1x | 2.1x |
| Sun, 19 Jan 2025 | ฿1.2t | ฿492.5b | ฿39.9b | 12.5x | 29.8x | 2.4x |
| Tue, 17 Dec 2024 | ฿1.3t | ฿492.5b | ฿39.9b | 14.4x | 32.5x | 2.6x |
| Thu, 14 Nov 2024 | ฿1.3t | ฿503.6b | ฿36.4b | 13.3x | 36.3x | 2.6x |
| Sat, 12 Oct 2024 | ฿1.4t | ฿501.8b | ฿38.0b | 14.4x | 37.2x | 2.8x |
| Mon, 09 Sep 2024 | ฿1.3t | ฿501.8b | ฿38.0b | 13.2x | 33.7x | 2.6x |
| Wed, 07 Aug 2024 | ฿1.1t | ฿509.0b | ฿37.3b | 12.2x | 29.3x | 2.2x |
| Fri, 05 Jul 2024 | ฿1.1t | ฿509.0b | ฿37.3b | 12.8x | 28.7x | 2.1x |
| Sun, 02 Jun 2024 | ฿1.2t | ฿508.8b | ฿37.3b | 13.5x | 31.1x | 2.3x |
| Tue, 30 Apr 2024 | ฿1.2t | ฿520.9b | ฿42.7b | 14.7x | 28.1x | 2.3x |
| Thu, 28 Mar 2024 | ฿1.3t | ฿520.9b | ฿42.7b | 15.6x | 30.2x | 2.5x |
| Sat, 24 Feb 2024 | ฿1.3t | ฿545.6b | ฿61.2b | 14.3x | 22x | 2.5x |
| Mon, 22 Jan 2024 | ฿1.3t | ฿564.3b | ฿60.2b | 14x | 22.2x | 2.4x |
| Wed, 20 Dec 2023 | ฿1.3t | ฿564.2b | ฿60.3b | 13.4x | 22.1x | 2.4x |
| Fri, 17 Nov 2023 | ฿1.3t | ฿552.2b | ฿60.8b | 14.1x | 22.1x | 2.4x |
| Sun, 15 Oct 2023 | ฿1.3t | ฿586.3b | ฿57.1b | 14.4x | 23.2x | 2.3x |
| Tue, 12 Sep 2023 | ฿1.5t | ฿586.3b | ฿57.1b | 14.7x | 25.9x | 2.5x |
| Thu, 10 Aug 2023 | ฿1.5t | ฿583.1b | ฿53.1b | 12.6x | 28.4x | 2.6x |
| Sat, 08 Jul 2023 | ฿1.4t | ฿588.0b | ฿53.4b | 13.2x | 26.9x | 2.4x |
| Mon, 05 Jun 2023 | ฿1.5t | ฿588.0b | ฿53.4b | 13.9x | 28.5x | 2.6x |
| Wed, 03 May 2023 | ฿1.6t | ฿575.0b | ฿55.7b | 13.1x | 29.4x | 2.8x |
| Fri, 31 Mar 2023 | ฿1.7t | ฿575.0b | ฿55.7b | 13.7x | 31.1x | 3x |
| Sun, 26 Feb 2023 | ฿1.7t | ฿545.4b | ฿62.1b | 16.1x | 28.1x | 3.2x |
| Tue, 24 Jan 2023 | ฿1.9t | ฿520.1b | ฿61.8b | 17.8x | 30x | 3.6x |
| Thu, 22 Dec 2022 | ฿1.8t | ฿515.7b | ฿61.5b | 17.3x | 30.1x | 3.6x |
| Sat, 19 Nov 2022 | ฿1.8t | ฿513.5b | ฿61.4b | 16.1x | 29x | 3.5x |
| Mon, 17 Oct 2022 | ฿1.7t | ฿451.2b | ฿63.4b | 16.1x | 26.6x | 3.7x |
| Wed, 14 Sep 2022 | ฿1.9t | ฿451.2b | ฿63.4b | 18.4x | 29.5x | 4.1x |
| Fri, 12 Aug 2022 | ฿1.8t | ฿417.7b | ฿68.2b | 14.2x | 26.3x | 4.3x |
| Sun, 10 Jul 2022 | ฿1.7t | ฿407.6b | ฿70.1b | 13.4x | 24.3x | 4.2x |
| Tue, 07 Jun 2022 | ฿1.7t | ฿407.6b | ฿70.1b | 13.5x | 24.9x | 4.3x |
| Thu, 05 May 2022 | ฿1.7t | ฿361.5b | ฿65.3b | 20.9x | 26.8x | 4.8x |
| Sat, 02 Apr 2022 | ฿1.9t | ฿361.5b | ฿65.3b | 21.8x | 28.4x | 5.1x |
| Mon, 28 Feb 2022 | ฿1.8t | ฿358.9b | ฿65.6b | 19.7x | 28.2x | 5.1x |
Price to Earnings Ratio
28.2x
Current Industry PE
- Investors are relatively neutral on the Thai Utilities industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 28.3x.
- The 3-year average PS ratio of 3.1x is higher than the industry's current PS ratio of 2.1x.
Past Earnings Growth
- The earnings for companies in the Utilities industry have declined 16% per year over the last three years.
- Meanwhile revenues for these companies have grown 11% 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 | -2.96% | |
| Utilities | -5.86% | |
| Electric Utilities | 3.51% | |
| Gas Utilities | 2.61% | |
| Water Utilities | 1.60% | |
| Other Utilities | 0% | 0 |
| Renewable Energy | -6.34% | |
Industry PE
- Investors are most optimistic about the Renewable Energy industry, which is trading close to its 3-year average PE ratio of 30.5x.
- Analysts are expecting annual earnings growth of 16.2%, which is higher than its past year's earnings decline of 7.7% per year.
Forecasted Growth
- Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 16% over the next 5 years.
- This is better than its past earnings decline of 7.7% per year.
- In contrast, the Electric Utilities industry is expected to see its earnings decline by 15% 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 | |
|---|---|---|---|---|---|
| GPSC Global Power Synergy | ฿29.00 | 5.5% +฿4.2b | -45.3% | PE20.1x | |
| SSP Sermsang Power Corporation | ฿5.75 | 10.6% +฿706.1m | -26.3% | PE13x | |
| TTW TTW | ฿9.10 | 1.7% +฿598.5m | -7.6% | PE12.7x | |
| ROJNA Rojana Industrial Park | ฿6.00 | 4.3% +฿505.1m | -6.3% | PE3.2x | |
| EA Energy Absolute | ฿2.74 | 3.8% +฿371.3m | -93.1% | PE3.4x |