P/B Ratios of the Stock Exchange of Thailand (SET) and the Alternative Investment Market
- DAISAKU KADOMAE
- Jul 21
- 1 min read
This chart shows the Price-to-Book (P/B) ratio trends for the Stock Exchange of Thailand (SET) and its Market for Alternative Investment (MAI) from June 2005 to June 2024.
Key Points:
MAI’s P/B (purple) peaked near 6x historically but has declined sharply since 2022.
SET’s P/B (blue) remained relatively stable over time, mostly ranging between 1.5x and 2.5x.
Both markets have experienced valuation compression post-2022, with MAI seeing a steeper drop, as highlighted in the red dashed circle.
Comments