Highest Average Revenue Per Company by Industry, Thailand 2026
In short
Manufacturing companies average 177.7 million baht in revenue each, the highest of Thailand's 21 industry sections as of 2 July 2026. Financial and insurance follows at 152.6 million baht, then electricity and gas at 151.0 million baht. Other services sits at the bottom among sections with a meaningful filer base, at just 6.4 million baht per company, with education close behind at 6.5 million baht. That is a 28.0 times gap between the biggest and smallest average firm size in the economy. Capital intensity, not company count, decides how big the typical firm in a sector is.
Which industry earns the most revenue per company?
Manufacturing tops the list at 177.7 million baht of average revenue per company as of 2 July 2026 (DBD, 2026). Financial and insurance is second at 152.6 million baht, followed closely by electricity and gas at 151.0 million baht and mining and quarrying at 130.1 million baht. Those four sections are the only ones above 100 million baht per company. Wholesale and retail trade, despite having the most companies of any section at 715,976, averages a far more modest 86.9 million baht. At the other end of the table, other services companies average just 6.4 million baht each, education 6.5 million baht, and households 1.9 million baht. This is not a ranking of company counts or profits. It measures how much revenue, on average, sits inside a single company once you divide a section's total revenue by the number of companies in that section that actually filed a financial statement.
Average revenue per company by industry section
- Manufacturing178
- Financial and insurance153
- Electricity and gas151
- Mining and quarrying130
- Wholesale and retail trade87
- Water and waste44
- Transportation and storage43
- Agriculture42
- Human health and social work40
- Public administration37
- Information and communication35
- Administrative and support17
- Accommodation and food service16
- Construction15
- Real estate12
- Arts and entertainment11
- Professional, scientific and technical11
- Education7
- Other services6
- Households2
- Extraterritorial organizations0
Figures in million baht per company.
Manufacturing, finance, utilities and mining cluster above 100 million baht per firm. Education, other services and households sit under 7 million baht.
All 21 industry sections ranked by average revenue per company
| Industry section | Avg revenue per company | Companies | Total sector revenue | Net margin |
|---|---|---|---|---|
| Manufacturing | 177.7 million baht | 230,396 | 25,161.5 billion baht | 4.38% |
| Financial and insurance | 152.6 million baht | 35,567 | 3,739.5 billion baht | 26.9% |
| Electricity and gas | 151.0 million baht | 7,833 | 841.0 billion baht | 11.62% |
| Mining and quarrying | 130.1 million baht | 8,231 | 434.3 billion baht | 13.49% |
| Wholesale and retail trade | 86.9 million baht | 715,976 | 34,929.4 billion baht | 1.4% |
| Water and waste | 43.7 million baht | 4,818 | 146.6 billion baht | 6.85% |
| Transportation and storage | 43.2 million baht | 85,273 | 2,135.4 billion baht | 5.89% |
| Agriculture | 42.3 million baht | 19,259 | 485.5 billion baht | 2.63% |
| Human health and social work | 40.4 million baht | 17,294 | 515.2 billion baht | 11.34% |
| Public administration | 37.1 million baht | 38 | 0.3 billion baht | 6.06% |
| Information and communication | 35.4 million baht | 52,537 | 1,288.6 billion baht | 4.19% |
| Administrative and support | 16.8 million baht | 100,691 | 1,098.5 billion baht | 4.33% |
| Accommodation and food service | 16.2 million baht | 83,598 | 914.0 billion baht | 4.96% |
| Construction | 15.1 million baht | 283,534 | 2,297.6 billion baht | 1.95% |
| Real estate | 11.9 million baht | 149,608 | 1,239.6 billion baht | 7.92% |
| Arts and entertainment | 11.1 million baht | 18,486 | 133.6 billion baht | -0.24% |
| Professional, scientific and technical | 11.1 million baht | 138,962 | 1,049.1 billion baht | 12.68% |
| Education | 6.5 million baht | 13,897 | 61.9 billion baht | 13.12% |
| Other services | 6.4 million baht | 20,455 | 83.9 billion baht | -0.07% |
| Households | 1.9 million baht | 32 | 0.01 billion baht | 2.83% |
| Extraterritorial organizations | 0.2 million baht | 4 | 0.0002 billion baht | 49.39% |
Average revenue per company, company count, total sector revenue and net margin, as of 2 Jul 2026.
Why average firm size matters more than the headline ranking
Read this table wrong and you conclude manufacturing companies are simply better run than education companies. Read it correctly and it says something different: manufacturing needs plant, machinery and inventory to operate at all, so its average filer carries a much larger revenue line than a tutoring center or a language school does. Financial and insurance and electricity and gas land near the top for the same reason, both sectors run on large fixed assets and licensed scale rather than headcount. Wholesale and retail trade shows the opposite pattern. It has more companies than any other section, 715,976, yet its average revenue per company of 86.9 million baht is well below manufacturing, because so much of retail trade is small shops splitting a large total among a very large population. Three sections, public administration, households and extraterritorial organizations, carry so few companies, 38, 32 and 4, that their averages are not a reliable read on anything and are excluded from the headline comparison for that reason. Other services, with 20,455 companies filing a statement, has the true lowest average revenue per company at 6.4 million baht, just below education's 13,897 companies at 6.5 million baht. For a lender sizing a loan book or a ministry setting a size threshold, the lesson is the same. A single national average revenue figure hides a 28.0 times spread between sectors, and the sector a company sits in tells you more about its likely scale than the fact that it is, on paper, just another registered company.
Definitions
- Average revenue per company
- A section's total reported revenue divided by the number of companies in that section that filed a financial statement. It is an aggregate average, not the revenue of a typical or median firm.
- Entity count
- The total number of registered companies classified into an industry section, including companies that did not file a financial statement and so are not part of the average revenue calculation.
- Filer
- A registered company that submitted a financial statement for the period covered. Only filers contribute revenue and profit to a section's aggregate figures.
- Industry section
- One of 21 broad categories in the TSIC classification, the Thai adaptation of the international ISIC industry code, such as manufacturing or education. Sections are the widest grouping in the registry, wider than the five-digit industry code.
- Net margin
- Aggregate net profit divided by aggregate revenue for a section. A ten percent margin means ten satang of profit for every baht of revenue.
Assumptions
- Average revenue per company uses each section's own filer count as the denominator, which is smaller than the entity count shown in the same row, so it is not equal to total revenue divided by entity count.
- Public administration, households and extraterritorial organizations have entity counts of 38, 32 and 4, far too small to treat their averages as comparable to sections with tens of thousands of companies.
- A section average reflects the mix of company sizes within it. A section can average high revenue per company because it contains a few very large filers rather than because most of its companies are large.
- Figures cover companies with a classified industry section only, which the data guide puts at 1,986,489 of the 1,989,709 total registered companies.
Methodology
Average revenue per company is drawn directly from the avg_revenue column of the market_section_insight table in the Department of Business Development registry, as of 2 July 2026, one value per TSIC industry section. That column divides each section's total reported revenue by the number of companies in that section that filed a financial statement, not by the section's full entity count. This is why the figures here differ from a naive total revenue divided by headcount calculation, such as manufacturing's 230,396 total companies against a smaller filer base within that count. Company counts shown in the table are the full entity count per section, used for scale context, while the average itself uses the filer-only denominator that the source table computed. Net margin is aggregate net profit over aggregate revenue for the same section. All 21 lettered TSIC sections are shown, including three with very small populations, public administration, households and extraterritorial organizations, whose averages are noted as statistically unstable rather than treated as headline results.
How we verified this
- Manufacturing to other services ratio recomputed from raw avg_revenue values: 177,715,735.62 divided by 6,356,470.03 equals 27.96, which rounds to the stated 28.0 times.
- Entity counts across all 21 section_code rows were summed and equal 1,986,489, matching the data guide's constant for companies with a classified industry section.
- Manufacturing's avg_revenue was cross checked against its own total_revenue: 25,161,526,995,978.84 divided by 177,715,735.62 equals about 141,583 filers, a subset of the section's 230,396 total companies, confirming the average uses a filer-only denominator rather than the full entity count shown beside it.
- All 21 avg_revenue values were sorted descending and manufacturing was confirmed as the maximum. Other services, entity_count 20,455, was confirmed as the true minimum at 6,356,470.03 baht, ahead of education's entity_count of 13,897 at 6,535,026.94 baht, after excluding public administration, households and extraterritorial organizations, whose entity counts of 38, 32 and 4 are too small to support a stable average.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- Office of Small and Medium Enterprises Promotion. (2026). MSME situation report: Thailand. OSMEP, Bangkok. https://en.sme.go.th/en/
Frequently asked questions
Which industry has the highest average revenue per company in Thailand?
Manufacturing, averaging 177.7 million baht per company as of 2 July 2026, ahead of financial and insurance at 152.6 million baht and electricity and gas at 151.0 million baht.
Which industry has the lowest average revenue per company?
Other services, at 6.4 million baht per company across 20,455 filing companies. Education follows closely at 6.5 million baht. Public administration, households and extraterritorial organizations post lower figures still, but each has fewer than 40 companies so the data guide treats them as too small to be a reliable read.
Why is manufacturing's average revenue so much higher than other services'?
Manufacturing requires heavy fixed assets, inventory and plant to operate, which pushes revenue per filing company far above a labor-based sector like other services. The gap is 28.0 times.
Does a high average revenue per company mean a sector is more profitable?
No. Financial and insurance has both a high average revenue per company and the highest net margin at 26.9 percent, but manufacturing's average revenue is highest while its net margin is a modest 4.38 percent. Scale and profitability are separate measures.
Cite this page
Chatpong L. (2026). Highest Average Revenue Per Company by Industry, Thailand 2026. Max Data Insights. https://maxdatathailand.com/insights/highest-average-revenue-per-company-by-industry-2026
Data & corrections
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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.