Richest Average Company by Equity: Thai Industries 2026
In short
The average financial and insurance company in Thailand holds about 486 million baht of shareholder equity, the richest average balance sheet of any industry section, as of 17 July 2026. Mining and quarrying is a distant second at 222 million baht, and electricity and gas holds 202 million baht. Household sector companies sit at the bottom with an average of just 1.1 million baht in equity. That gap makes the typical financial firm more than 400 times richer on paper than the typical household-sector company.
Which industry has the richest average balance sheet?
Financial and insurance companies carry the fattest average equity cushion in the Thai economy, at 486.4 million baht per company, as of 17 July 2026 (DBD, 2026). Mining and quarrying is a distant second at 222.4 million baht, and electricity and gas follows close behind at 201.6 million baht. Manufacturing rounds out the top four at 75.1 million baht, still less than a fifth of the leader. From there the numbers fall fast. Human health, agriculture, wholesale and retail trade, and information and communication all cluster between 35 million and 40 million baht. Households as employers of domestic staff sit at the very bottom, with an average of just 1.1 million baht in equity per registered entity.
Average shareholder equity per company by industry section
- Financial and insurance486,383,073
- Mining and quarrying222,352,836
- Electricity and gas201,641,055
- Manufacturing75,133,547
- Human health and social work39,887,741
- Agriculture38,116,074
- Wholesale and retail trade36,043,108
- Information and communication35,800,016
- Water and waste35,145,982
- Real estate32,977,407
- Transportation and storage23,802,234
- Administrative and support14,464,580
- Professional, scientific and technical13,871,177
- Construction12,997,758
- Accommodation and food service11,358,232
- Extraterritorial organizations7,905,002
- Education6,720,637
- Public administration6,290,437
- Arts and entertainment4,637,093
- Other services3,347,904
- Households as employers1,145,491
Figures in baht, average per company.
Financial and insurance stands well apart from every other sector. Capital-heavy industries cluster in the middle, and small household-employer entities sit at the floor.
All 21 industry sections ranked by average equity per company
| Industry section | Average equity, baht | Registered companies |
|---|---|---|
| Financial and insurance | 486,383,073 | 35,567 |
| Mining and quarrying | 222,352,836 | 8,231 |
| Electricity and gas | 201,641,055 | 7,833 |
| Manufacturing | 75,133,547 | 230,396 |
| Human health and social work | 39,887,741 | 17,294 |
| Agriculture | 38,116,074 | 19,259 |
| Wholesale and retail trade | 36,043,108 | 715,976 |
| Information and communication | 35,800,016 | 52,537 |
| Water and waste | 35,145,982 | 4,818 |
| Real estate | 32,977,407 | 149,608 |
| Transportation and storage | 23,802,234 | 85,273 |
| Administrative and support | 14,464,580 | 100,691 |
| Professional, scientific and technical | 13,871,177 | 138,962 |
| Construction | 12,997,758 | 283,534 |
| Accommodation and food service | 11,358,232 | 83,598 |
| Extraterritorial organizations | 7,905,002 | 4 |
| Education | 6,720,637 | 13,897 |
| Public administration | 6,290,437 | 38 |
| Arts and entertainment | 4,637,093 | 18,486 |
| Other services | 3,347,904 | 20,455 |
| Households as employers | 1,145,491 | 32 |
Average shareholder equity per company and registered entity count, by TSIC section, as of 17 Jul 2026.
Why the gap is so wide
The ranking is not really a story about who earns the most. Financial and insurance already tops the net margin table too, but equity is a stock, not a flow, and banks and insurers are required by regulators to hold capital buffers against the risk on their books. Mining and utility companies carry heavy fixed assets and long-lived concessions, which also inflate the equity side of the balance sheet even before profit is counted. At the other end, a household that registers to formally employ domestic staff or a driver is not running a capital-intensive business at all. It has almost no equity because it was never built to hold any. Comparing the two tells you more about what each entity type exists to do than about who is winning or losing in the economy.
Definitions
- Shareholder equity
- The residual value of a company after subtracting total liabilities from total assets, as reported on its filed balance sheet.
- Average equity per company
- The section average of each individual reporting company's equity, not the sector total divided by every registered entity, so it reflects a typical company's balance sheet within that section.
- TSIC section
- One of 21 lettered top-level categories in the Thailand Standard Industrial Classification, the broadest level of industry grouping used by the DBD registry.
- Registered companies
- The count of juristic entities classified under a section in the DBD registry, whether or not they have filed a financial statement.
Assumptions
- Only companies that filed a financial statement contribute to a section's average equity figure.
- Sections with very small entity counts, particularly households as employers with 32 registered entities and extraterritorial organizations with 4, produce averages that can shift sharply with a single company's data and should be read as indicative rather than precise.
- Average equity per company is a balance sheet size measure and does not indicate profitability or financial health on its own.
Methodology
Average shareholder equity per company is computed for each TSIC industry section from filed financial statements in the DBD registry, as of 17 July 2026. The figure is the section average of each reporting company's total equity, not an aggregate divided by all registered entities, so it reflects the typical balance sheet size within a section. Sections with very few registered entities, such as extraterritorial organizations, public administration, and households as employers, are shown for completeness but rest on small samples and should be read with caution. All 21 lettered TSIC sections are included.
How we verified this
- Sections were sorted by avg_total_equity descending and financial and insurance at 486,383,073 baht was confirmed as the maximum across all 21 sections.
- Households as employers at 1,145,491 baht was confirmed as the minimum across all 21 sections, lower than the next lowest, other services, at 3,347,904 baht.
- The richest to poorest ratio was recomputed directly as 486,383,073 divided by 1,145,491, which equals 424.6, supporting the more than 400 times claim.
- Second place, mining and quarrying at 222,352,836 baht, was confirmed to be less than half of the financial and insurance figure.
- All 21 lettered TSIC sections from the data guide were present in the query result with no missing section codes.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- Bank of Thailand. (2025). Financial institutions statistics: capital funds and capital adequacy ratio. https://www.bot.or.th/en/statistics/fin-institution.html
Frequently asked questions
Which Thai industry has the richest average company by equity?
Financial and insurance, with an average of 486.4 million baht in shareholder equity per company, as of 17 July 2026.
Which industry has the smallest average equity per company?
Households as employers of domestic staff, at an average of just 1.1 million baht per registered entity.
Why does financial and insurance have so much more equity than other sectors?
Banks and insurers are required to hold regulatory capital against the risk they carry on their books, which pushes their average equity far above ordinary trading or service businesses.
Does high average equity mean a sector is more profitable?
Not directly. Equity measures the size of the balance sheet, while margin measures how much profit a company keeps from each baht of revenue. A sector can rank high on one and not the other.
Cite this page
Chatpong L. (2026). Richest Average Company by Equity: Thai Industries 2026. Max Data Insights. https://maxdatathailand.com/insights/highest-average-equity-per-company-by-industry-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.