Narrative Update • Jul 16
Have your own idea? Try our Stock Screener
Thai (SET) Utilities Sector Analysis
UpdatedAug 03, 2026
DataAggregated Company Financials
Companies32
- 7D-0.2%
- 3M20.6%
- 1Y44.6%
- YTD47.3%
In the last week, the Utilities industry is flat overall, with Global Power Synergy standing out by going down 5.0%. The past year has been better, since the industry has gained 45% in that time. In the next few years, earnings are forecast to decline 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 |
|---|---|---|---|---|---|---|
| Mon, 03 Aug 2026 | ฿1.6t | ฿461.0b | ฿124.3b | 13.5x | 13.2x | 3.6x |
| Wed, 01 Jul 2026 | ฿1.5t | ฿461.0b | ฿124.3b | 11.5x | 12x | 3.2x |
| Fri, 29 May 2026 | ฿1.5t | ฿462.2b | ฿121.5b | 12x | 12.1x | 3.2x |
| Sun, 26 Apr 2026 | ฿1.3t | ฿459.0b | ฿113.5b | 12.4x | 11.8x | 2.9x |
| Tue, 24 Mar 2026 | ฿1.3t | ฿459.0b | ฿117.8b | 12.9x | 10.9x | 2.8x |
| Thu, 19 Feb 2026 | ฿1.5t | ฿426.3b | ฿99.9b | 15.1x | 14.6x | 3.4x |
| Sat, 17 Jan 2026 | ฿1.2t | ฿428.6b | ฿98.8b | 14.2x | 11.9x | 2.8x |
| Mon, 15 Dec 2025 | ฿1.1t | ฿428.6b | ฿98.8b | 13.8x | 11.2x | 2.6x |
| Wed, 12 Nov 2025 | ฿1.2t | ฿440.5b | ฿103.8b | 14.4x | 11.2x | 2.6x |
| Fri, 10 Oct 2025 | ฿1.2t | ฿473.2b | ฿107.0b | 11.5x | 11.4x | 2.6x |
| Sun, 07 Sep 2025 | ฿1.2t | ฿473.8b | ฿106.0b | 11.7x | 11.5x | 2.6x |
| Tue, 05 Aug 2025 | ฿1.2t | ฿474.2b | ฿51.0b | 12.7x | 22.6x | 2.4x |
| Thu, 03 Jul 2025 | ฿1.0t | ฿474.2b | ฿51.0b | 11.6x | 20.2x | 2.2x |
| Sat, 31 May 2025 | ฿1.1t | ฿473.6b | ฿52.3b | 12.1x | 21.5x | 2.4x |
| Mon, 28 Apr 2025 | ฿1.1t | ฿486.5b | ฿48.3b | 12.3x | 23.4x | 2.3x |
| Wed, 26 Mar 2025 | ฿1.0t | ฿486.5b | ฿48.3b | 12.4x | 21.2x | 2.1x |
| 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 |
Price to Earnings Ratio
28.4x
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 13.2x which is lower than its 3-year average PE of 22.0x.
- The 3-year average PS ratio of 2.5x is lower than the industry's current PS ratio of 3.6x.
Past Earnings Growth
- The earnings for companies in the Utilities industry have grown 33% per year over the last three years.
- Meanwhile revenues for these companies have declined 7.5% 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 Utilities sector?
| TH Market | -1.27% | |
| Utilities | -0.23% | |
| Gas Utilities | 0% | 0 |
| Renewable Energy | -0.17% | |
| Water Utilities | -1.08% | |
| Electric Utilities | -1.61% | |
Industry PE
- Investors are most optimistic about the Water Utilities industry which is trading above its 3-year average PE ratio of 13.4x.
- Analysts are expecting annual earnings growth of 8.6%, which is lower than the prior year's growth of 10.6% per year.
Forecasted Growth
- Analysts are most optimistic on the Water Utilities industry, expecting annual earnings growth of 8.6% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- In contrast, the Renewable Energy industry is expected to see its earnings decline by 16% 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 | |
|---|---|---|---|---|---|
| GULF Gulf Development | ฿67.00 | 2.7% +฿26.1b | 44.9% | PE11.2x | |
| EASTW Eastern Water Resources Development and Management | ฿5.60 | 12.4% +฿1.0b | 169.2% | PE148.9x | |
| ROJNA Rojana Industrial Park | ฿6.20 | 2.5% +฿303.1m | 33.0% | PE4.8x | |
| SSP Sermsang Power Corporation | ฿4.72 | 4.0% +฿224.8m | 15.7% | PE10x | |
| EA Energy Absolute | ฿2.94 | 0.7% +฿148.5m | 5.8% | PS1.7x |