1,173 Thai Industry Codes Earn Less Than the 10th Largest Firm 2026
In short
One company, CP All, reports 473 billion baht in revenue as the tenth-largest in Thailand. That is more than the total revenue of 1,173 of 1,200 five-digit TSIC codes with revenue data, or 97.75 percent. Only 27 codes clear the bar. Those 27 hold 48.59 percent of all code-level revenue as of 17 July 2026.
How many industry codes earn less than the tenth-largest company?
A total of 1,173. The tenth-largest company in the registry reports 473,009,380,740 baht in revenue (DBD, 2026). Of the 1,200 five-digit TSIC codes that carry a revenue figure, 1,173 each add up to less than that one firm. That is 97.75 percent of codes. Only 27 codes clear the line, led by code 47732 at 10.25 trillion baht. Another 28 codes have no revenue figure at all, so they sit outside the count. Four of the 1,173 report exactly zero.
The ten largest companies by reported revenue
- Hua Seng Heng Commoditas2,658
- PTT1,848
- MTS Gold1,432
- YLG Corporation1,201
- YLG Bullion International928
- PTT Oil and Retail Business683
- Intergold Gold Trade610
- Thai Oil508
- PTT Global Chemical499
- CP All473
Figures in billion baht.
Company ranks come from the revenue ranking in the Max Data trends table. The tenth firm is the yardstick for every code on this page.
The ten largest companies by reported revenue, in full
| Rank | Company | Revenue (baht) |
|---|---|---|
| 1 | Hua Seng Heng Commoditas Company Limited | 2,657,573,529,788 |
| 2 | PTT Public Company Limited | 1,848,428,895,849 |
| 3 | MTS Gold Company Limited | 1,432,282,101,428 |
| 4 | YLG Corporation Co., Ltd. | 1,200,903,620,319 |
| 5 | Y L G Bullion International Company Limited | 927,971,294,787 |
| 6 | PTT Oil and Retail Business Public Company Limited | 683,096,998,995 |
| 7 | Intergold Gold Trade Co., Ltd. | 610,436,700,645 |
| 8 | Thai Oil Public Company Limited | 508,114,726,308 |
| 9 | PTT Global Chemical Public Company Limited | 498,669,009,231 |
| 10 | CP All Public Company Limited | 473,009,380,740 |
Top ten companies by reported revenue, in baht, computed on 24 Jun 2026 from the DBD registry.
Where the 1,200 industry codes fall against the line
- At or above 473.0 billion baht27
- 47.3 to 473.0 billion baht214
- Under 47.3 billion baht959
Figures in number of codes.
Bands are set by the tenth-largest company, 473.0 billion baht, and one tenth of it, 47.3 billion baht. The 959 codes in the lowest band include four with zero revenue.
Why this matters
Read the 473 billion baht figure as a unit of measure. It is one company. Yet it outweighs 1,173 whole industries, as the registry slices them. The median code earns 5.47 billion baht, so the tenth firm is 86 times a typical code. Even codes in the 214-strong middle band are less than the company's revenue. Two forces produce this. TSIC codes are narrow, and a handful of Thai groups trade fuel, gold and convenience retail at enormous volume. Revenue is also not profit, and a gold or fuel trader books large sales on thin spreads. So the ranking says more about turnover than about wealth. For a sales team, the practical lesson is that picking a code by size misleads. A single account can be worth more than an entire code. Check the biggest names before you size a market.
Definitions
- TSIC code
- The Thailand Standard Industrial Classification code. This page uses the five-digit level, which splits the economy into 1,228 narrow activities.
- Total revenue
- The sum of revenue reported in filed financial statements by all companies in a code.
- Median code
- The middle code when the 1,200 codes with revenue data are sorted by total revenue. Half earn less, half earn more.
- Aggregate
- A figure summed across many companies, with no single firm or person identified.
Assumptions
- Only 1,200 of 1,228 codes have a revenue figure. The other 28 are left out of the comparison.
- Company ranks were computed on 24 June 2026 and code totals on 17 July 2026. Revenue is the latest filed figure per company in each table.
- Revenue is not profit. Ranking by revenue favours traders of high-value goods.
- A company's revenue is counted in its own code, so one large firm can make a narrow code look large.
Methodology
Company ranks use the revenue metric in the Max Data trends table, computed 24 June 2026, which lists the top ten companies by reported revenue. Industry code totals use total_revenue in the Max Data industry code table, computed 17 July 2026, from the Department of Business Development registry. A code counts as below the line when its total revenue is strictly less than the tenth-largest company's 473,009,380,740 baht. Of 1,228 codes in the table, 1,200 have a revenue figure and 28 have none, so the comparison covers 1,200. The two tables were computed on different dates, so small differences are possible. Revenue is as filed, not audited by this site.
How we verified this
- Count of codes with total revenue below 473,009,380,740 baht was 1,173. Count at or above was 27. Codes with no revenue figure were 28. The sum 1,173 + 27 + 28 equals the 1,228 rows in the table.
- Share below the line recomputed as 1,173 divided by 1,200, which is 97.75 percent. Share above is 27 divided by 1,200, which is 2.25 percent.
- Revenue of the 27 codes at or above the line is 38,914,116,666,702 baht. Revenue of the 1,173 below is 41,167,381,505,015 baht. Together they total 80,081,498,171,717 baht. The 27 codes hold 38.914 divided by 80.081, which is 48.59 percent.
- Band counts recomputed: 27 + 214 + 959 equals 1,200. The 959 codes under 47.3 billion baht include 4 codes with zero revenue.
- Tenth firm against the median code recomputed as 473.009 billion divided by 5.474 billion, which is about 86 times.
- Code 47732 at 10,246 billion baht divided by 473.0 billion baht is about 21.7 times the tenth company.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
Frequently asked questions
How many Thai industry codes have less total revenue than the tenth-largest company?
1,173 of the 1,200 five-digit TSIC codes that carry a revenue figure, or 97.75 percent, based on the DBD registry as of 17 July 2026.
Which company is the tenth largest by revenue?
CP All Public Company Limited, at 473,009,380,740 baht in the revenue ranking of the Max Data revenue ranking.
Which codes are bigger than the tenth-largest company?
27 codes. The largest is 47732 with 10.25 trillion baht, followed by 19201 with 3.73 trillion baht and 46621 with 3.54 trillion baht.
Does large revenue mean large profit?
No. Revenue is total sales. Gold, fuel and retail traders can book very large sales on thin margins, so revenue rank does not equal profit rank.
Cite this page
Chatpong L. (2026). 1,173 Thai Industry Codes Earn Less Than the 10th Largest Firm 2026. Max Data Insights. https://maxdatathailand.com/insights/how-many-thai-industry-codes-earn-less-than-the-10th-largest-company-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.