Average Net Profit per Thai Company, 2007 to 2025
In short
Average net profit per filing Thai company reached about 4.12 million baht in 2025, up 28.5 percent from 3.21 million baht in 2007. The number of filing companies more than doubled over that span, up 126.7 percent. Aggregate net profit nearly tripled, up 191.3 percent, which is why the per company average still climbed despite the flood of new filers. The path between those two years was rough. Profit per company peaked at 5.57 million baht in 2016. It then collapsed to 2.08 million baht in 2019 before clawing back to today's level.
How has average net profit per Thai company changed since 2007?
Average net profit per filing company in Thailand climbed from about 3.21 million baht in 2007 to roughly 4.12 million baht in 2025, a gain of 28.5 percent (DBD, 2026). That works out to a compound pace of just 1.40 percent a year, a slow crawl stretched across nearly two decades. The line between those two years was never straight. Profit per company slipped as early as 2008, then pushed higher through the middle years to a peak of 5.57 million baht in 2016. It then fell hard, bottoming at 2.08 million baht in 2019, a level not much above where the series started twelve years earlier. From that trough it climbed back sharply, up 97.8 percent by 2025, yet the 2025 figure still sits 26.0 percent below the 2016 peak. Two decades of company formation left the average filer only modestly richer on paper, and considerably poorer than at the mid 2010s high.
Average net profit per filing company, 2007 to 2025
Figures in million baht per company.
The 2016 peak and 2019 trough bracket a swing wider than the entire 18 year gain. By 2025 the average has recovered most of the lost ground but not all of it.
Filing companies, net profit and the average by year
| Year | Filing companies | Total net profit (THB billion) | Avg net profit per company (THB million) |
|---|---|---|---|
| 2007 | 315,581 | 1,012 | 3 |
| 2008 | 324,606 | 918 | 3 |
| 2009 | 329,995 | 1,054 | 3 |
| 2010 | 352,500 | 1,456 | 4 |
| 2011 | 376,859 | 1,468 | 4 |
| 2012 | 403,444 | 1,911 | 5 |
| 2013 | 433,671 | 2,199 | 5 |
| 2014 | 458,464 | 2,121 | 5 |
| 2015 | 480,268 | 1,978 | 4 |
| 2016 | 505,168 | 2,813 | 6 |
| 2017 | 535,469 | 2,429 | 5 |
| 2018 | 570,307 | 2,446 | 4 |
| 2019 | 594,830 | 1,239 | 2 |
| 2020 | 617,294 | 1,587 | 3 |
| 2021 | 648,550 | 2,654 | 4 |
| 2022 | 675,284 | 2,909 | 4 |
| 2023 | 705,512 | 2,349 | 3 |
| 2024 | 730,322 | 2,786 | 4 |
| 2025 | 715,339 | 2,948 | 4 |
Total reported net profit and average net profit per filing company by statement year, as of 14 Aug 2026.
Why this trend matters
A gain of 28.5 percent over 18 years sounds thin next to what happened to the register itself, since the number of filing companies grew 126.7 percent over the same span, more than doubling from 315,581 to 715,339. Aggregate net profit did rise faster, up 191.3 percent, nearly tripling from 1.01 trillion baht to 2.95 trillion baht. But dividing that bigger profit pool across a much bigger company count leaves each average filer with only a modest step up. The national anchor across all filed years, an aggregate net margin of about 4.11 percent, sits a little below both the 2007 margin of 4.22 percent and the 2025 margin of 4.34 percent, pulled down by weak years such as 2019, so none of these three figures reads as an outlier. The volatility matters as much as the trend. A company formed around 2016 and still filing today would have watched its typical peer's profit fall by more than half within three years, then take until the mid 2020s to recover only part of that ground. Broader research points the same direction. A 2025 OECD review of Thailand's corporate sector found return on equity and return on assets both trending down over the past decade, alongside a rising share of loss making firms among small and midsize companies (OECD, 2025). Anyone pricing credit risk, sizing a market entry, or benchmarking a portfolio company against the typical Thai filer should treat the last two decades as a story of a wider corporate base earning only a little more per firm on average, with sharp swings along the way rather than a steady climb.
Definitions
- Average net profit per company
- Total reported net profit for a statement year divided by the number of companies that filed a financial statement that year. It is a population mean, not a median, so a handful of very large or very lossmaking filers can pull it in either direction.
- Statement year
- The fiscal year a company's filed financial statement covers. The source system records it on the Thai Buddhist calendar, converted here to the Gregorian year.
- Filing company
- A registered company that submitted a financial statement to the DBD for a given statement year, as opposed to the full base of registered companies, many of which never file.
- Compound annual growth rate
- The steady yearly percentage rate that would carry a value from its starting level to its ending level over a given number of years, if growth had been even every year rather than uneven as it actually was.
- Net margin
- Net profit as a share of revenue for a given statement year. A margin near four percent means about four satang of profit for every baht of revenue reported that year.
- Aggregate net profit
- The sum of net profit reported by every filing company in a statement year, before dividing by company count to get the per company average.
Assumptions
- Average net profit per company is a population mean across all filers in a year, not a matched panel of the same companies followed over time, so part of the year to year change reflects companies entering or leaving the filing base rather than existing companies changing size.
- Only companies that filed a financial statement for a given statement year are counted in that year's figures, not the full registered base, which is larger.
- Net profit is taken as filed and can include one time items such as asset sales or write offs, so a small number of large filers can move a given year's average.
- Statement years follow the Thai Buddhist calendar in the source system and were converted to the Gregorian year used throughout this page.
- Statement year 2026, Buddhist year 2569, is excluded because it held only about 4,534 filed statements at the snapshot date, far short of a complete filing year.
Methodology
Average net profit per company is each statement year's total reported net profit divided by the number of companies that filed a financial statement that year, drawn from the DBD registry aggregates in Max Data as of 14 August 2026. The source table records statement years on the Thai Buddhist calendar, converted here to the Gregorian year, for example 2550 becomes 2007 and 2568 becomes 2025. The 2026 statement year, Buddhist 2569, is excluded because only about 4,534 companies had filed by the snapshot date, far too few to represent a complete year. This is a population average across every company that filed a statement in a given year, not a fixed panel of the same firms followed over time, so part of any year to year move reflects new filers entering the base alongside existing filers changing size. Net profit is the figure as filed and can include one time gains or losses, so a handful of very large filers can move the average.
How we verified this
- Divided total_net_profit by company_count for all 19 statement years from 2550 through 2568 after excluding the incomplete 2569 year, confirming 2007 at 3.21 million baht and 2025 at 4.12 million baht per filing company.
- Recomputed the 18 year change as 4,121,211 divided by 3,207,058 minus one, equal to positive 28.5 percent, then took that ratio to the power of one eighteenth minus one to get a compound annual rate of 1.40 percent.
- Scanned all 19 years and confirmed 2016 as the maximum average at 5.57 million baht and 2019 as the minimum at 2.08 million baht, then recomputed 2025 against each, finding 2025 sits 26.0 percent below the 2016 peak and 97.8 percent above the 2019 trough.
- Recomputed filing company growth from 315,581 in 2007 to 715,339 in 2025 as positive 126.7 percent, a 2.267 times multiple, and aggregate net profit growth over the same span as positive 191.3 percent, a 2.913 times multiple.
- Divided the aggregate profit multiple of 2.913 by the company count multiple of 2.267 to get 1.285, matching the independently computed 28.5 percent per company gain and confirming the two calculations agree.
- Cross checked against market_national_insight, whose live aggregate net margin of about 4.11 percent sits a little below both the 2007 net margin of 4.22 percent and the 2025 net margin of 4.34 percent computed from market_year_insight, confirming the endpoint margins are close to and plausible against the whole economy anchor.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- OECD. (2025). OECD Capital Market Review of Thailand 2025: The corporate sector. OECD Publishing. https://www.oecd.org/en/publications/oecd-capital-market-review-of-thailand-2025_0a975590-en/full-report/the-corporate-sector_008c96e5.html
Frequently asked questions
What is the average net profit per company in Thailand in 2025?
About 4.12 million baht per filing company, from 2.95 trillion baht in total reported net profit across 715,339 companies that filed a statement for statement year 2025.
How much has average net profit per company grown since 2007?
It rose 28.5 percent, from about 3.21 million baht in 2007 to about 4.12 million baht in 2025, a compound annual pace of just 1.40 percent.
When was average net profit per company at its highest?
In 2016, at 5.57 million baht per filing company, before it fell sharply and bottomed at 2.08 million baht in 2019.
Why did the number of filing companies grow so much faster than profit per company?
The filing base more than doubled between 2007 and 2025, up 126.7 percent, while aggregate net profit grew 191.3 percent. Spreading a nearly tripled profit pool across a more than doubled company count leaves each average filer with a modest 28.5 percent gain rather than anything close to a tripling.
Cite this page
Chatpong L. (2026). Average Net Profit per Thai Company, 2007 to 2025. Max Data Insights. https://maxdatathailand.com/insights/average-net-profit-per-thai-company-2007-2025
Data & corrections
Download the data (CSV)Spot something off, or want to ask about the data? Email insights@maxsolutions.co.th. We publish corrections.
Written by
Chatpong L.Founder, Max Data, Max Solutions Co., Ltd.
Chatpong L. leads Max Data, a company-intelligence platform built on Thailand's official business registry. He writes about the structure of the Thai economy using primary registry data. His work covers company formation, industry concentration, and regional business activity.
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This page reports company-level and aggregate statistics only. It names no individuals and makes no claims about any person. Figures are provided for information and may be revised as source data updates.