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Thai (SET) Utilities Sector Analysis
UpdatedApr 20, 2025
DataAggregated Company Financials
Companies33
- 7D5.4%
- 3M-11.8%
- 1Y-46.7%
- YTD-11.5%
Over the last 7 days, the Utilities industry has risen 5.4%, driven by gains from Gulf Development of 3.9%. In contrast, the industry has lost 47% in the last 12 months. As for the next few years, earnings are expected to grow by 14% per annum.
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 |
|---|---|---|---|---|---|---|
| Sun, 20 Apr 2025 | ฿1.1t | ฿486.5b | ฿48.3b | 12.2x | 23.6x | 2.3x |
| Tue, 18 Mar 2025 | ฿1.0t | ฿486.5b | ฿48.3b | 12.6x | 21.1x | 2.1x |
| Thu, 13 Feb 2025 | ฿1.1t | ฿492.0b | ฿39.0b | 12.5x | 28.6x | 2.3x |
| Sat, 11 Jan 2025 | ฿1.2t | ฿492.5b | ฿39.9b | 12.8x | 30x | 2.4x |
| Mon, 09 Dec 2024 | ฿1.4t | ฿492.5b | ฿39.9b | 15.1x | 34.2x | 2.8x |
| Wed, 06 Nov 2024 | ฿1.4t | ฿501.8b | ฿38.0b | 13.9x | 36.7x | 2.8x |
| Fri, 04 Oct 2024 | ฿1.3t | ฿501.8b | ฿38.0b | 13.2x | 34.9x | 2.6x |
| Sun, 01 Sep 2024 | ฿1.2t | ฿501.8b | ฿38.0b | 12.9x | 30.9x | 2.3x |
| Tue, 30 Jul 2024 | ฿1.1t | ฿509.0b | ฿37.3b | 12.6x | 29.6x | 2.2x |
| Thu, 27 Jun 2024 | ฿1.1t | ฿509.0b | ฿37.3b | 13x | 29.5x | 2.2x |
| Sat, 25 May 2024 | ฿1.2t | ฿505.8b | ฿38.8b | 14.2x | 30.2x | 2.3x |
| Mon, 22 Apr 2024 | ฿1.2t | ฿520.9b | ฿42.7b | 14.2x | 27.5x | 2.3x |
| Wed, 20 Mar 2024 | ฿1.3t | ฿520.9b | ฿42.7b | 15.8x | 30.8x | 2.5x |
| Fri, 16 Feb 2024 | ฿1.3t | ฿548.4b | ฿61.2b | 14.1x | 21.6x | 2.4x |
| Sun, 14 Jan 2024 | ฿1.4t | ฿564.3b | ฿60.2b | 14.8x | 22.5x | 2.4x |
| Tue, 12 Dec 2023 | ฿1.3t | ฿564.2b | ฿60.3b | 13.5x | 22.1x | 2.4x |
| Thu, 09 Nov 2023 | ฿1.3t | ฿572.6b | ฿58.5b | 13x | 22.5x | 2.3x |
| Sat, 07 Oct 2023 | ฿1.3t | ฿586.3b | ฿57.1b | 14.2x | 23x | 2.2x |
| Mon, 04 Sep 2023 | ฿1.5t | ฿586.3b | ฿57.1b | 14.1x | 26.4x | 2.6x |
| Wed, 02 Aug 2023 | ฿1.6t | ฿582.9b | ฿53.2b | 12.9x | 29.2x | 2.7x |
| Fri, 30 Jun 2023 | ฿1.4t | ฿588.0b | ฿53.4b | 13.5x | 27x | 2.5x |
| Sun, 28 May 2023 | ฿1.6t | ฿588.0b | ฿53.4b | 14x | 29.4x | 2.7x |
| Tue, 25 Apr 2023 | ฿1.7t | ฿575.0b | ฿55.7b | 13.5x | 29.9x | 2.9x |
| Thu, 23 Mar 2023 | ฿1.7t | ฿574.9b | ฿56.9b | 13.5x | 30.1x | 3x |
| Sat, 18 Feb 2023 | ฿1.8t | ฿519.3b | ฿61.7b | 16.2x | 29.3x | 3.5x |
| Mon, 16 Jan 2023 | ฿1.9t | ฿515.7b | ฿61.5b | 17.7x | 30.4x | 3.6x |
| Wed, 14 Dec 2022 | ฿1.9t | ฿514.9b | ฿61.4b | 18.1x | 30.2x | 3.6x |
| Fri, 11 Nov 2022 | ฿1.8t | ฿453.4b | ฿63.2b | 17.2x | 28.5x | 4x |
| Sun, 09 Oct 2022 | ฿1.7t | ฿451.2b | ฿63.4b | 17.3x | 27x | 3.8x |
| Tue, 06 Sep 2022 | ฿1.8t | ฿451.2b | ฿63.4b | 18.2x | 28.2x | 4x |
| Thu, 04 Aug 2022 | ฿1.8t | ฿407.6b | ฿70.1b | 14.6x | 25x | 4.3x |
| Sat, 02 Jul 2022 | ฿1.7t | ฿407.6b | ฿70.1b | 14.6x | 24.5x | 4.2x |
| Mon, 30 May 2022 | ฿1.7t | ฿407.6b | ฿70.1b | 14.3x | 24.8x | 4.3x |
| Wed, 27 Apr 2022 | ฿1.8t | ฿361.5b | ฿65.3b | 21.4x | 26.9x | 4.9x |
Price to Earnings Ratio
26.9x
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 23.6x which is lower than its 3-year average PE of 27.9x.
- The 3-year average PS ratio of 2.9x 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 9.6% per year over the last three years.
- Meanwhile revenues for these companies have grown 10% 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 | 2.06% | |
| Utilities | 5.41% | |
| Electric Utilities | 14.02% | |
| Renewable Energy | 5.45% | |
| Water Utilities | 2.93% | |
| Gas Utilities | 1.24% | |
Industry PE
- Investors are most optimistic about the Renewable Energy industry even though it's trading below its 3-year average PE ratio of 30.2x.
- Analysts are expecting annual earnings growth of 14.7%, which is higher than its past year's earnings decline of 7.1% per year.
Forecasted Growth
- Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 15% over the next 5 years.
- This is better than its past earnings decline of 7.1% per year.
- In contrast, the Electric Utilities industry is expected to see its earnings decline by 28% 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 | ฿46.75 | 3.9% +฿26.1b | n/a | PE38.4x | |
| GPSC Global Power Synergy | ฿28.75 | 16.4% +฿11.4b | -37.8% | PE20x | |
| BGRIM B.Grimm Power | ฿10.90 | 12.4% +฿3.1b | -55.7% | PE41.5x | |
| EA Energy Absolute | ฿2.16 | 16.1% +฿2.2b | -92.9% | PS0.9x | |
| CKP CK Power | ฿2.76 | 10.4% +฿2.1b | -31.3% | PE16.7x |