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Thai (SET) Renewable Energy Industry Analysis
UpdatedNov 07, 2025
DataAggregated Company Financials
Companies26
- 7D-1.3%
- 3M-1.8%
- 1Y-15.7%
- YTD-8.0%
Over the last 7 days, the Renewable Energy industry has dropped 1.3%, driven by Global Power Synergy declining 10%. Overall the industry is down 16% in 12 months. Looking forward, earnings are forecast to decline by 22% per year.
Industry Valuation and Performance
Has the Thai Renewable Energy Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 08 Nov 2025 | ฿1.1t | ฿440.5b | ฿102.9b | 12.6x | 10.9x | 2.5x |
| Mon, 06 Oct 2025 | ฿1.1t | ฿440.1b | ฿101.2b | 10.1x | 10.7x | 2.5x |
| Wed, 03 Sep 2025 | ฿1.1t | ฿440.7b | ฿100.2b | 10.1x | 11.3x | 2.6x |
| Fri, 01 Aug 2025 | ฿1.1t | ฿439.9b | ฿44.2b | 13.1x | 25.2x | 2.5x |
| Sun, 29 Jun 2025 | ฿959.4b | ฿439.9b | ฿44.2b | 11.4x | 21.7x | 2.2x |
| Tue, 27 May 2025 | ฿1.1t | ฿439.9b | ฿44.4b | 13.4x | 24.9x | 2.5x |
| Thu, 24 Apr 2025 | ฿1.1t | ฿452.0b | ฿40.8b | 12x | 26.1x | 2.4x |
| Sat, 22 Mar 2025 | ฿966.4b | ฿452.0b | ฿40.8b | 12.4x | 23.7x | 2.1x |
| Mon, 17 Feb 2025 | ฿1.1t | ฿457.9b | ฿31.6b | 14.4x | 34x | 2.3x |
| Wed, 15 Jan 2025 | ฿1.1t | ฿458.2b | ฿32.4b | 13.8x | 34.4x | 2.4x |
| Fri, 13 Dec 2024 | ฿1.2t | ฿458.2b | ฿32.4b | 15.3x | 38.5x | 2.7x |
| Sun, 10 Nov 2024 | ฿1.3t | ฿468.2b | ฿30.7b | 15.3x | 41.7x | 2.7x |
| Tue, 08 Oct 2024 | ฿1.3t | ฿468.1b | ฿31.7b | 16.7x | 40x | 2.7x |
| Thu, 05 Sep 2024 | ฿1.1t | ฿468.1b | ฿31.7b | 15.3x | 35.4x | 2.4x |
| Sat, 03 Aug 2024 | ฿1.1t | ฿475.4b | ฿31.7b | 13.8x | 33.3x | 2.2x |
| Mon, 01 Jul 2024 | ฿1.0t | ฿475.4b | ฿31.7b | 16.6x | 31.7x | 2.1x |
| Wed, 29 May 2024 | ฿1.1t | ฿472.5b | ฿33.1b | 16.4x | 33.7x | 2.4x |
| Fri, 26 Apr 2024 | ฿1.1t | ฿485.7b | ฿36.8b | 15.3x | 31x | 2.4x |
| Sun, 24 Mar 2024 | ฿1.2t | ฿485.7b | ฿36.8b | 17.3x | 33.6x | 2.5x |
| Tue, 20 Feb 2024 | ฿1.2t | ฿513.7b | ฿54.8b | 15x | 22.8x | 2.4x |
| Thu, 18 Jan 2024 | ฿1.3t | ฿528.8b | ฿54.5b | 15.1x | 23x | 2.4x |
| Sat, 16 Dec 2023 | ฿1.3t | ฿528.6b | ฿54.6b | 14.9x | 23.5x | 2.4x |
| Mon, 13 Nov 2023 | ฿1.2t | ฿538.9b | ฿54.0b | 14.5x | 22.9x | 2.3x |
| Wed, 11 Oct 2023 | ฿1.2t | ฿551.6b | ฿52.0b | 14.5x | 23.7x | 2.2x |
| Fri, 08 Sep 2023 | ฿1.4t | ฿551.6b | ฿52.0b | 14.3x | 27.1x | 2.6x |
| Sun, 06 Aug 2023 | ฿1.4t | ฿549.4b | ฿48.4b | 12.9x | 29.5x | 2.6x |
| Tue, 04 Jul 2023 | ฿1.4t | ฿554.6b | ฿48.7b | 13.6x | 28.8x | 2.5x |
| Thu, 01 Jun 2023 | ฿1.5t | ฿554.6b | ฿48.7b | 14.2x | 30.6x | 2.7x |
| Sat, 29 Apr 2023 | ฿1.6t | ฿543.1b | ฿50.1b | 14.9x | 31.1x | 2.9x |
| Mon, 27 Mar 2023 | ฿1.7t | ฿543.1b | ฿50.1b | 15.3x | 33.1x | 3.1x |
| Wed, 22 Feb 2023 | ฿1.7t | ฿489.1b | ฿56.3b | 17x | 30.7x | 3.5x |
| Fri, 20 Jan 2023 | ฿1.8t | ฿489.1b | ฿56.3b | 17.9x | 31.8x | 3.7x |
| Sun, 18 Dec 2022 | ฿1.8t | ฿484.7b | ฿56.0b | 17.9x | 32x | 3.7x |
| Tue, 15 Nov 2022 | ฿1.7t | ฿450.5b | ฿58.1b | 16.3x | 30x | 3.9x |
Price to Earnings Ratio
30x
Current Industry PE
- Investors are pessimistic on the Thai Renewable Energy 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 10.9x which is lower than its 3-year average PE of 28.4x.
- The industry is trading close to its 3-year average PS ratio of 2.6x.
Past Earnings Growth
- The earnings for companies in the Renewable Energy industry have grown 23% per year over the last three years, while revenues have remained mostly flat.
- This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.
Industry Trends
Which industries have driven the changes within the Thai Utilities industry?
| TH Market | -0.09% | |
| Utilities | -1.21% | |
| Renewable Energy | -1.34% | |
| Independent Power Producers and Energy Traders | -1.22% | |
| Renewable Energy | -2.19% | |
Industry PE
- Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 49.7x.
- Analysts are expecting annual earnings growth of 25.2%, which is higher than its past year's earnings decline of 2.5% per year.
- Investors are most pessimistic about the Independent Power Producers and Energy Traders industry, which is trading below its 3-year average of 36.3x.
Forecasted Growth
- Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 25% over the next 5 years.
- This is better than its past earnings decline of 2.5% per year.
- In contrast, the Independent Power Producers and Energy Traders industry is expected to see its earnings decline by 25% 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 | |
|---|---|---|---|---|---|
| RATCH Ratch Group | ฿29.00 | 4.5% +฿2.7b | -5.7% | PE11.3x | |
| SPCG SPCG | ฿8.40 | 1.2% +฿105.6m | -3.4% | PE21.3x | |
| NOVA Nova Empire | ฿8.90 | 1.1% +฿11.7m | -13.6% | PE63.9x | |
| EP Eastern Power Group | ฿1.24 | 0.8% +฿9.3m | -36.7% | PS1.4x |