Fastest-Growing Thai Industry Codes by Net Profit, 2015-2025
In short
TSIC 64191 added 80.34 billion baht in net profit between 2015 and 2025, more than any other 5-digit Thai code, as of 14 Aug 2026. Profit rose from 166.24 billion baht to 246.58 billion baht across just 19 filing companies. That gain runs 32.6 percent ahead of the runner-up, TSIC 64202, which added 60.57 billion baht. Four of the ten fastest profit-growing codes sit inside financial and insurance, supplying 92.5 percent of that section's entire decade of profit growth. This one code alone explains about 8.3 percent of the rise in net profit across every registered company in Thailand.
Which industry code grew net profit the most?
TSIC 64191 answers the question in raw baht terms (DBD, 2026). This 5-digit code sits inside section K, financial and insurance, and its top filer is Bangkok Bank Public Company Limited. Combined net profit across the code rose from 166.24 billion baht in 2015 to 246.58 billion baht in 2025, a gain of 80.34 billion baht. Only 17 companies filed under this code in 2015 and only 19 filed in 2025, so the gain sits on a narrow base rather than a broad wave of new entrants. Revenue at the code grew a slower 32.7 percent over the same decade, from 850.61 billion baht to 1.13 trillion baht, so most of the profit gain came from a fatter margin, not just more sales. Net margin moved from 19.55 percent in 2015 to 21.84 percent in 2025. The runner-up, TSIC 64202, also inside financial and insurance, added 60.57 billion baht, rising from 201.92 billion baht to 262.49 billion baht across a much wider base of 2,636 companies in 2015 and 5,104 in 2025. TSIC 64191's gain runs 32.6 percent ahead of that second-place figure.
Ten fastest-growing 5-digit industry codes by net profit, 2015 to 2025
- TSIC 6419180
- TSIC 6420261
- TSIC 6420159
- TSIC 2620949
- TSIC 0610038
- TSIC 6810429
- TSIC 8610129
- TSIC 2930926
- TSIC 6511026
- TSIC 6810225
Figures in net profit growth, billion baht.
Four of the ten bars belong to section K, financial and insurance. The rest span manufacturing, mining, real estate, and health.
The ten fastest-growing industry codes by net profit
| TSIC code | Section | Profit 2015, billion baht | Profit 2025, billion baht | Growth, billion baht | Filers 2015 | Filers 2025 | Top filer |
|---|---|---|---|---|---|---|---|
| 64191 | K, Financial and insurance | 166 | 247 | 80 | 17 | 19 | Bangkok Bank |
| 64202 | K, Financial and insurance | 202 | 262 | 61 | 2,636 | 5,104 | Gulf Development |
| 64201 | K, Financial and insurance | 4 | 63 | 59 | 235 | 615 | SCB X |
| 26209 | C, Manufacturing | 49 | 98 | 49 | 59 | 54 | Western Digital Storage Technologies |
| 06100 | B, Mining and quarrying | 12 | 50 | 38 | 28 | 21 | PTT Exploration and Production |
| 68104 | L, Real estate | 45 | 74 | 29 | 9,595 | 14,432 | Central Pattana |
| 86101 | Q, Human health and social work | 21 | 50 | 29 | 474 | 851 | Bangkok Dusit Medical Services |
| 29309 | C, Manufacturing | 67 | 93 | 26 | 1,570 | 1,731 | Mitsubishi Motors Thailand |
| 65110 | K, Financial and insurance | 34 | 59 | 26 | 52 | 93 | SCB Life Assurance |
| 68102 | L, Real estate | 9 | 34 | 25 | 16,234 | 23,133 | Sansiri |
Net profit and filing companies by 5-digit TSIC code, 2015 versus 2025, as of 14 Aug 2026.
The near-miss this ranking deliberately leaves out
One code came close to knocking TSIC 64191 off the top spot, and it is worth explaining why it is not on the list. TSIC 24109, inside manufacturing, lost 74.75 billion baht in 2015 and crept to a 1.96 billion baht profit by 2025, a swing of 76.72 billion baht. On raw movement alone that would rank second. It is a different story from growth, though. A code that starts deep in the red and claws its way to a thin profit is recovering from a collapse, not compounding a strong position. This ranking only counts codes that were already profitable in 2015, which is why TSIC 24109 sits outside the table and TSIC 64202 takes second place instead. That single filtering choice is also what produces the 32.6 percent gap between first and second place. Include the loss-recovery code and the gap nearly disappears.
Why this matters
Profit growth in Thailand's registry is not evenly spread, and this ranking shows exactly how lopsided it gets. A code with just 19 filing companies produced more new profit over a decade than codes with tens of thousands of filers. Four of the ten fastest-growing codes by profit belong to one section, financial and insurance, and those four alone account for 92.5 percent of everything that section gained. Widen the lens further and TSIC 64191 by itself explains about 8.3 percent of the entire increase in reported net profit across all 1,989,709 registered companies in Thailand. That is a striking concentration for a single code out of the 1,228 that exist and the 938 with data in both years compared here. This page completes a four-part series on this site tracking which 5-digit industry codes grew fastest by revenue, by total assets, by company count, and now by profit. Each dimension crowns a different code, and reading them together shows that scale, headcount, and profitability rarely move together inside the same slice of the economy.
Definitions
- TSIC code
- Thailand Standard Industrial Classification code, a five digit number that identifies a company's specific line of business within one of 21 broader lettered industry sections.
- Industry section
- One of 21 lettered top level categories, such as K for financial and insurance, that groups related 5-digit TSIC codes.
- Net profit growth
- The simple baht difference between a code's aggregate net profit in statement year 2025 and its aggregate net profit in statement year 2015, not a compounding annual rate.
- Net margin
- Net profit as a share of revenue for all companies under a code that filed a financial statement in a given year.
- Statement year
- The fiscal year a company's financial statement covers. The source system records it in the Buddhist calendar, which runs 543 years ahead of the Gregorian calendar, so year 2568 equals 2025 and year 2558 equals 2015.
- Loss recovery
- A code moving from a net loss in the base year to a small net profit later. This ranking treats loss recovery as distinct from growth and excludes any code that was not already profitable in 2015.
Assumptions
- Only companies that filed a financial statement for a given statement year contribute to that year's profit total, so the underlying filer population changes from year to year.
- The 2015 to 2025 comparison uses statement year endpoints rather than a full year by year trend, which can mask a bumpier path in between.
- The ranking excludes any code with a net loss in 2015, since a swing from a large loss to a small profit reflects recovery rather than the growth this page sets out to measure.
- Codes are identified only by number, parent section, and top filing company, since the registry publishes no activity description at the 5-digit level.
- Naming a top filer for each code reflects the source data's own top filer field and does not imply that company alone produced the code's entire gain.
Methodology
Net profit by 5-digit TSIC industry code is drawn from market_tsic_year_insight, summed across every company that filed a financial statement under that code in a given statement year, sourced from the Department of Business Development registry as of 14 August 2026. Statement years are recorded in the Buddhist calendar in the source system. Statement year 2558 was used for 2015 and statement year 2568 for 2025. Growth is the simple difference between the 2025 and 2015 totals, not a compound rate. The ranking is limited to codes that reported a positive net profit in 2015, so a code swinging from a large loss to a small profit does not crowd out codes that were already profitable and grew from there. Of the 1,228 5-digit TSIC codes in the registry, 938 have net profit data in both statement years, and the ranking draws only from that set. Section-level totals are the sum of every 5-digit code carrying that section letter. Five-digit TSIC codes carry no published activity description in this dataset, so codes are identified by number, parent section, and top filing company only.
How we verified this
- TSIC 64191 net profit growth recomputed as 246,583,317,677 minus 166,242,558,992, equal to 80,340,758,685 baht, which is 80.34 billion baht.
- TSIC 64191 lead over the runner-up recomputed as 80,340,758,685 divided by 60,566,330,580.20, equal to 1.3265, confirming a 32.6 percent lead over TSIC 64202's 60,566,330,580.20 baht gain.
- TSIC 64191 net margin recomputed for both years: 166,242,558,992 divided by 850,612,248,327 equals 19.55 percent in 2015, and 246,583,317,677 divided by 1,129,113,506,907 equals 21.84 percent in 2025, matching the code's own reported net margin field of 21.84 percent.
- TSIC 64191 revenue growth recomputed as 1,129,113,506,907 divided by 850,612,248,327, equal to 1.3274, a 32.7 percent rise.
- National net profit growth recomputed from market_year_insight as 2,948,062,688,131.74 minus 1,977,612,916,458.61, equal to 970,449,771,673.13 baht. TSIC 64191's 80,340,758,685 baht gain divided by that figure equals 8.28 percent, rounded to 8.3 percent.
- Section K net profit across all its 5-digit codes with data in both years rose from 518,499,223,424.49 baht in 2015 to 762,728,778,630.50 baht in 2025, a gain of 244,229,555,206.01 baht. Summing the four section K codes in the top ten table, 80,340,758,685 plus 60,566,330,580.20 plus 59,238,386,806.36 plus 25,714,929,265.15, equals 225,860,405,336.71 baht, which is 92.48 percent of the section total, rounded to 92.5 percent.
- TSIC 24109 was checked and excluded by design: its 2015 net profit of negative 74,751,912,540.83 baht rules it out of a ranking limited to codes profitable in 2015, even though its raw swing of 76,716,589,191.19 baht would otherwise place it second.
- Company count growth for TSIC 64191 recomputed as 19 minus 17, divided by 17, times 100, equal to 11.76 percent.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates by TSIC code. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- The Nation Thailand. (2026). 11 Thai banks post THB265bn profit in 2025, Kasikornbank tops chart at THB49bn. https://www.nationthailand.com/business/banking-finance/40061543
Frequently asked questions
Which Thai industry code added the most net profit between 2015 and 2025?
TSIC 64191, inside the financial and insurance section, added 80.34 billion baht, rising from 166.24 billion baht in 2015 to 246.58 billion baht in 2025.
How much bigger is the top code's gain than the second-placed code?
TSIC 64191's 80.34 billion baht gain is 32.6 percent larger than the 60.57 billion baht added by TSIC 64202, the second-placed code, also in financial and insurance.
Why does TSIC 24109 not appear in the top ten despite a large profit swing?
TSIC 24109 lost 74.75 billion baht in 2015 and only reached a 1.96 billion baht profit by 2025. This ranking counts only codes that were already profitable in 2015, so a recovery from a loss does not count as growth here.
Is the profit growth concentrated in one industry section?
Largely, yes. Four of the ten fastest-growing codes by profit sit inside section K, financial and insurance, and those four supply 92.5 percent of that section's total profit growth over the decade.
Cite this page
Chatpong L. (2026). Fastest-Growing Thai Industry Codes by Net Profit, 2015-2025. Max Data Insights. https://maxdatathailand.com/insights/fastest-growing-5-digit-tsic-codes-by-profit-2015-2025
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.
Related insights
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.