Education Companies in Thailand: Returns and Margins 2026
In short
Thailand counts 13,897 registered education companies as of 2 July 2026, just 0.7 percent of all classified firms. The sector earns a 12.31 percent return on equity, the highest of any major industry section. Its net profit margin of 13.12 percent ranks third in the whole economy. Return on assets sits at only 0.71 percent, held down by heavy school buildings and land. Reported sector revenue grew 87.1 percent over the past decade. Small, asset heavy, and quietly very profitable.
How big is the private education business in Thailand?
By company count it is small. Thailand's registry holds 13,897 education companies as of 2 July 2026, about 0.7 percent of the 1,986,489 classified firms (DBD, 2026). Reported revenue for the sector comes to roughly 61.9 billion baht, a rounding error next to manufacturing or trade. The interesting part is what those firms do with the money. Education posts a return on equity of 12.31 percent, the highest of any major industry section in the country. Its net profit margin of 13.12 percent is the third richest in the economy, behind only finance and mining. This is not a big sector. It is a very efficient one.
Return on equity by major industry section
- Education12
- Human health and social work11
- Transportation and storage10
- Manufacturing10
- Professional, scientific and technical10
- Electricity and gas8
Figures in percent return on equity.
Education turns the most profit per baht of owner capital of any substantial sector, ahead of health and transport.
The education sector scorecard
| Measure | Education | Context |
|---|---|---|
| Companies | 13,897 | 0.7% of classified firms |
| Reported revenue | 61.9 billion baht | about 0.06 trillion baht |
| Net profit margin | 13.12% | third highest of any sector |
| Return on equity | 12.31% | highest of any major sector |
| Return on assets | 0.71% | one of the lowest |
| Survival rate | 57.7% | national rate 50.0% |
| Revenue 2015 to 2025 | 27.0 to 50.5 billion baht | up 87.1% |
Education companies in Thailand against the national picture, as of 2 Jul 2026.
Why this matters
One number explains the whole sector. Education returns 12.31 percent on equity but only 0.71 percent on assets, a gap wider than almost any other industry. That gap is the school building. A campus locks up land, classrooms and dormitories, so profit measured against total assets looks thin. Measured against the owners' own capital, the same profit looks excellent. Schools also last. The education survival rate of 57.7 percent runs well above the national 50.0 percent, because a licensed institution with enrolled families does not fold the way a small trader does. Demand has held too. Reported revenue climbed 87.1 percent in ten years, from 27.0 billion baht in 2015 to 50.5 billion in 2025. That growth arrives even as public spending on education has slipped to around 2.5 percent of GDP (World Bank, 2024), which pushes more families toward private tuition, international programs and test preparation. For an investor the read is simple. This is a defensive, cash efficient sector that rewards owner capital, so long as you can carry the property on the balance sheet.
Definitions
- Return on equity
- Net profit as a share of shareholder equity. It measures how much profit the sector earns on the capital its owners put in.
- Return on assets
- Net profit as a share of total assets. It measures how much profit the sector earns on everything it owns, including land and buildings.
- Net profit margin
- Net profit as a share of revenue. A 13.12 percent margin means about 13 satang of profit for every baht of revenue.
- Survival rate
- The share of registered companies in the sector that are still active rather than closed or dormant.
- TSIC
- The Thailand Standard Industrial Classification, the national coding system that sorts registered companies by their main economic activity.
- Industry section
- A top-level TSIC grouping of economic activity. Education is section P.
- Aggregate figure
- A total computed across all filing companies in the sector, rather than the average of each company's own ratio.
Assumptions
- Only companies that filed a financial statement contribute to the margin and return ratios.
- The total reported revenue figure and the 2015 to 2025 revenue series use different reporting scopes, so they are not expected to match exactly.
- Section P covers all education activity from schools to tutoring and training, so the aggregate blends different education business models.
Methodology
Figures are aggregates for TSIC section P, education, drawn from financial statements filed with the Department of Business Development registry as of 2 July 2026. A company counts as an education firm if it is registered under section P. Net margin is aggregate net profit divided by aggregate revenue for firms that filed a statement. Return on equity is aggregate net profit divided by aggregate shareholder equity, and return on assets is aggregate net profit divided by aggregate total assets. Survival rate is the share of registered education companies still active. The 10-year revenue series and the total reported revenue figure use different reporting scopes, so they are shown separately rather than reconciled. Ratios rest only on companies that filed, so unfiled firms are excluded.
How we verified this
- Company share recomputed from raw counts: 13,897 divided by 1,986,489 equals 0.0070, matching the reported 0.7 percent.
- Return on equity of 12.31 percent confirmed as the highest among the substantive industry sections. Public administration shows a higher figure but rests on only 38 filers and is not a commercial sector, so it is excluded.
- Ten-year revenue growth recomputed: 50.5 minus 27.0 equals 23.5, divided by 27.0 equals about 0.870, consistent with the reported plus 87.1 percent.
- Return on assets of 0.71 percent checked against return on equity of 12.31 percent. The wide gap reflects heavy fixed assets, since schools hold large land and buildings that inflate total assets.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- The World Bank. (2024). Government expenditure on education, total, percent of GDP, Thailand [Data set]. World Development Indicators. https://data.worldbank.org/indicator/SE.XPD.TOTL.GD.ZS?locations=TH
Frequently asked questions
How many education companies are registered in Thailand?
There are 13,897 registered education companies as of 2 July 2026, about 0.7 percent of all classified firms.
Is the education sector profitable?
Yes. Education earns a 12.31 percent return on equity, the highest of any major sector, and a 13.12 percent net profit margin, the third highest in the economy.
Why is the return on assets so low if the sector is profitable?
Schools hold large land and buildings, so profit measured against total assets is just 0.71 percent even though profit against owner equity is strong.
Are education companies more durable than other firms?
Their survival rate of 57.7 percent runs above the national 50.0 percent, so a registered education firm is more likely to stay active than the average company.
Cite this page
Chatpong L. (2026). Education Companies in Thailand: Returns and Margins 2026. Max Data Insights. https://maxdatathailand.com/insights/education-companies-in-thailand-2026
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.