Thai (SET) Market Analysis & Valuation
UpdatedJul 09, 2024
DataAggregated Company Financials
Companies891
- 7D1.8%
- 3M-5.8%
- 1Y-11.8%
- YTD-7.9%
Over the last 7 days, the market has remained flat, with no particular sector making any big moves this week. As for last year, the market is down 12%. As for the next few years, earnings are expected to grow by 15% per annum.
Market Valuation and Performance
Has the Thai Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 09 Jul 2024 | ฿16.6t | ฿17.4t | ฿971.9b | 15.2x | 17.1x | 1x |
| Thu, 06 Jun 2024 | ฿16.8t | ฿17.4t | ฿973.9b | 15.5x | 17.3x | 1x |
| Sat, 04 May 2024 | ฿17.2t | ฿17.2t | ฿963.4b | 16.2x | 17.8x | 1x |
| Mon, 01 Apr 2024 | ฿17.2t | ฿17.2t | ฿967.8b | 16.5x | 17.7x | 1x |
| Wed, 28 Feb 2024 | ฿17.4t | ฿17.2t | ฿988.0b | 16.7x | 17.7x | 1x |
| Fri, 26 Jan 2024 | ฿17.1t | ฿17.2t | ฿943.4b | 16.3x | 18.2x | 1x |
| Sun, 24 Dec 2023 | ฿17.5t | ฿17.1t | ฿929.5b | 16.2x | 18.9x | 1x |
| Tue, 21 Nov 2023 | ฿17.6t | ฿17.1t | ฿925.4b | 15.8x | 19.1x | 1x |
| Thu, 19 Oct 2023 | ฿17.8t | ฿17.4t | ฿873.3b | 16.8x | 20.4x | 1x |
| Sat, 16 Sep 2023 | ฿19.2t | ฿17.3t | ฿870.8b | 18x | 22x | 1.1x |
| Mon, 14 Aug 2023 | ฿19.0t | ฿17.3t | ฿885.6b | 16.9x | 21.5x | 1.1x |
| Wed, 12 Jul 2023 | ฿18.5t | ฿17.7t | ฿1.0t | 16.2x | 18.5x | 1x |
| Fri, 09 Jun 2023 | ฿19.3t | ฿17.7t | ฿1.0t | 17.2x | 19.2x | 1.1x |
| Sun, 07 May 2023 | ฿19.0t | ฿17.6t | ฿1.0t | 16.1x | 18.6x | 1.1x |
| Tue, 04 Apr 2023 | ฿19.8t | ฿17.6t | ฿994.8b | 17.3x | 19.9x | 1.1x |
| Thu, 02 Mar 2023 | ฿20.0t | ฿17.5t | ฿1.0t | 17.9x | 19.6x | 1.1x |
| Sat, 28 Jan 2023 | ฿20.8t | ฿17.1t | ฿1.1t | 18.2x | 19.2x | 1.2x |
| Mon, 26 Dec 2022 | ฿19.9t | ฿17.1t | ฿1.1t | 17.4x | 18x | 1.2x |
| Wed, 23 Nov 2022 | ฿19.8t | ฿17.1t | ฿1.1t | 17.4x | 17.9x | 1.2x |
| Fri, 21 Oct 2022 | ฿19.5t | ฿15.7t | ฿1.1t | 17.1x | 18.2x | 1.2x |
| Sun, 18 Sep 2022 | ฿19.9t | ฿15.7t | ฿1.1t | 17.6x | 18.6x | 1.3x |
| Tue, 16 Aug 2022 | ฿19.7t | ฿15.5t | ฿1.1t | 17.4x | 18.8x | 1.3x |
| Thu, 14 Jul 2022 | ฿18.6t | ฿14.2t | ฿977.2b | 16.8x | 19x | 1.3x |
| Sat, 11 Jun 2022 | ฿19.6t | ฿14.1t | ฿975.1b | 18.8x | 20.1x | 1.4x |
| Mon, 09 May 2022 | ฿19.5t | ฿13.1t | ฿984.7b | 18.6x | 19.8x | 1.5x |
| Wed, 06 Apr 2022 | ฿20.2t | ฿13.1t | ฿990.5b | 19.4x | 20.4x | 1.5x |
| Fri, 04 Mar 2022 | ฿20.1t | ฿13.1t | ฿987.7b | 19.4x | 20.3x | 1.5x |
| Sun, 30 Jan 2022 | ฿19.4t | ฿12.2t | ฿931.2b | 19.3x | 20.9x | 1.6x |
| Tue, 28 Dec 2021 | ฿19.3t | ฿12.1t | ฿910.6b | 19.4x | 21.2x | 1.6x |
| Thu, 25 Nov 2021 | ฿19.3t | ฿12.1t | ฿909.6b | 19.3x | 21.2x | 1.6x |
| Sat, 23 Oct 2021 | ฿19.0t | ฿11.6t | ฿885.7b | 19.9x | 21.4x | 1.6x |
| Mon, 20 Sep 2021 | ฿18.7t | ฿11.6t | ฿883.6b | 20.2x | 21.2x | 1.6x |
| Wed, 18 Aug 2021 | ฿17.8t | ฿11.6t | ฿882.1b | 18.2x | 20.1x | 1.5x |
Price to Earnings Ratio
19.8x
Current Market PE
- Investors are pessimistic on the Thai market, indicating that they anticipate earnings will not grow as fast as they have historically.
- The market is trading at a PE ratio of 16.9x which is lower than its 3-year average PE of 19.3x.
Past Earnings Growth
- The earnings for Thai listed companies have grown 3.3% per year over the last three years.
- Revenues for these companies have grown 15% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Sector Trends
Which sectors have driven the changes within the Thai Market?
| TH Market | 1.77% | |
| Consumer Staples | 3.91% | |
| Tech | 3.01% | |
| Utilities | 2.28% | |
| Consumer Discretionary | 1.89% | |
| Financials | 1.68% | |
| Healthcare | 1.60% | |
| Real Estate | 1.38% | |
| Telecom | 1.25% | |
| Energy | 1.21% | |
| Materials | 0.32% | |
| Industrials | 0.20% | |
Sector PE
- Investors favour the Industrials sector the most for future growth even though it's trading below its 3-year average PE ratio of 118x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 24.3%, which is higher than its past year's earnings growth of 1.8% per year.
- The Energy sector is the least preferred by investors for future growth, which is trading below its 3-year average of 9.3x.
Forecasted Growth
- Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 38% over the next 5 years.
- This is better than its past earnings growth rate of 19% per year.
- In contrast, the Energy industry is expected to see its earnings growth to stay flat 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 | Sector | |
|---|---|---|---|---|---|---|
| CPAXT CP Axtra | ฿29.50 | 9.3% +฿26.5b | -11.9% | PE34.9x | Consumer Staples | |
| DELTA Delta Electronics (Thailand) | ฿85.25 | 2.1% +฿21.8b | -15.6% | PE55.6x | Tech | |
| PTT PTT | ฿33.00 | 1.5% +฿14.3b | -2.9% | PE8.3x | Energy | |
| CPF Charoen Pokphand Foods | ฿24.40 | 7.5% +฿14.0b | 23.9% | PS0.3x | Consumer Staples | |
| CPALL CP ALL | ฿56.50 | 2.3% +฿11.2b | -10.3% | PE25.1x | Consumer Staples |
