Average Thai Company Equity: 41.6 Million Baht in 2026
In short
Weighting shareholder equity across all 21 industry sections puts the average Thai company's equity at about 41.6 million baht as of 7 July 2026. That works out to roughly 82.6 trillion baht sitting on the books of 1,986,489 classified companies nationwide. Financial and insurance firms average 486.8 million baht each, nearly 12 times the national figure. Just two sections, finance and manufacturing, hold 41.93 percent of all that equity while accounting for only 13.39 percent of companies. Wholesale and retail, home to more than a third of Thailand's companies, sits close to the national average at 36.1 million baht.
How much equity backs the average Thai company?
Weight each of Thailand's 21 industry sections by how many companies it holds and the answer comes to about 41.6 million baht of shareholder equity per company, as of 7 July 2026 (DBD, 2026). Multiply that across the 1,986,489 companies with a classified industry section and the national total comes to roughly 82.6 trillion baht sitting on company balance sheets. Sites tracking Thai company statistics already publish average assets, average revenue and average profit per company. None has anchored a capitalization figure like this one. Equity is what would be left for owners after every liability is paid, so it is the cleanest single measure of how much capital actually stands behind a registered firm. The 41.6 million baht figure is not evenly spread. A handful of capital heavy sections pull it upward while most companies carry far less.
Average equity per company by industry section
- Financial and insurance487
- Mining and quarrying223
- Electricity and gas202
- Manufacturing75
- Human health and social work40
- Agriculture38
- Wholesale and retail trade36
- Information and communication36
- Water and waste35
- Real estate33
- Transportation and storage24
- Administrative and support15
- Professional, scientific and technical14
- Construction13
- Accommodation and food service11
- Education7
- Arts and entertainment5
- Other services3
Figures in million baht per company.
Finance, mining and utilities sit far above the rest. Public administration, households and extraterritorial organizations are left off this chart because each rests on fewer than 50 companies, see the full table below.
Average shareholder equity by industry section
| Industry section | Companies | Avg equity per company | Share of national equity |
|---|---|---|---|
| Financial and insurance | 35,567 | 486.8 million baht | 20.96% |
| Mining and quarrying | 8,231 | 222.7 million baht | 2.22% |
| Electricity and gas | 7,833 | 201.9 million baht | 1.91% |
| Manufacturing | 230,396 | 75.2 million baht | 20.97% |
| Human health and social work | 17,294 | 39.9 million baht | 0.84% |
| Agriculture | 19,259 | 38.2 million baht | 0.89% |
| Wholesale and retail trade | 715,976 | 36.1 million baht | 31.27% |
| Information and communication | 52,537 | 35.8 million baht | 2.28% |
| Water and waste | 4,818 | 35.2 million baht | 0.21% |
| Real estate | 149,608 | 33.0 million baht | 5.98% |
| Transportation and storage | 85,273 | 23.8 million baht | 2.46% |
| Administrative and support | 100,691 | 14.5 million baht | 1.76% |
| Professional, scientific and technical | 138,962 | 13.9 million baht | 2.33% |
| Construction | 283,534 | 13.0 million baht | 4.47% |
| Accommodation and food service | 83,598 | 11.4 million baht | 1.15% |
| Extraterritorial organizations* | 4 | 7.9 million baht | 0.00% |
| Education | 13,897 | 6.7 million baht | 0.11% |
| Public administration* | 38 | 6.3 million baht | 0.00% |
| Arts and entertainment | 18,486 | 4.6 million baht | 0.10% |
| Other services | 20,455 | 3.4 million baht | 0.08% |
| Households* | 32 | 1.1 million baht | 0.00% |
Ranked by average equity per company, as of 7 Jul 2026. Companies is the DBD count of firms classified into that section. Sections marked with an asterisk rest on fewer than 50 companies, so treat those three averages as indicative only.
Why this matters
The average hides a concentration story. Financial and insurance holds 20.96 percent of all shareholder equity in the country from just 1.79 percent of classified companies. Add manufacturing and two sections alone hold 41.93 percent of national equity from 13.39 percent of companies. Wholesale and retail runs the opposite pattern, 36.04 percent of all classified companies but only 31.27 percent of the equity, so the typical retailer or trader is thinly capitalized next to a typical manufacturer or insurer. For scale, Thailand's entire economy produced 577.01 billion dollars of output in 2025 (World Bank, 2025), which converts to roughly 20.2 trillion baht at an approximate exchange rate of 35 baht per dollar. The 82.6 trillion baht sitting in company equity is about four times that annual output, a reminder that a balance sheet figure built up over decades of retained earnings and paid in capital is not the same thing as a single year of national income. For a site that already reports revenue, assets and profit per company, equity closes the loop. It answers the question a lender or investor asks first: how much of a cushion actually stands behind this company if the year goes badly.
Definitions
- Shareholder equity
- Total assets minus total liabilities. It represents the residual value that would belong to owners if a company sold every asset and settled every debt.
- Weighted average
- An average that accounts for the size of each group. Here, each industry section's average equity is weighted by how many companies belong to that section, so large sections influence the national figure more than small ones.
- Classified company
- A company in the DBD registry that has been assigned to one of the 21 lettered industry sections. Companies without a section code are excluded from this analysis.
- Section
- One of 21 broad industry groups defined by the ISIC classification system, such as manufacturing or financial and insurance, each identified by a single letter.
Assumptions
- Average equity within a section is computed from companies that filed a financial statement, then applied to every classified company in that section, filers and non filers alike, which assumes non filers resemble filers in that section.
- The national weighted average uses entity_count, the count of companies classified into a section, as the weight, not the smaller count of companies with filed data.
- Extraterritorial organizations, public administration and households each rest on fewer than 50 companies and should be read as indicative only, not as reliable sector averages.
- The comparison to Thailand's GDP converts the World Bank's dollar figure to baht at an approximate exchange rate of 35 baht per dollar and is illustrative scale context, not an exact reconciliation.
Methodology
Average shareholder equity per company is drawn from the DBD registry as of 7 Jul 2026, computed within each of the 21 industry sections from companies that filed a financial statement, then applied to every company registered and classified into that section, filers and non filers alike, to build each section's total. The national figures of 41.6 million baht per company and 82.6 trillion baht total are a weighted average of the 21 section averages, weighted by each section's count of classified companies, not a simple mean of the 21 section figures and not a direct sum of individual company balance sheets. Equity means total assets minus total liabilities, the residual value that would remain for shareholders if a company settled every debt today. Three sections, extraterritorial organizations, public administration and households, are shown for completeness but rest on fewer than 50 companies each, so their averages should be read as indicative only.
How we verified this
- Weighted the 21 section values of avg_total_equity by each section's entity_count and divided by the sum of entity_count, giving 41,582,563 baht, rounded to 41.6 million baht.
- Summed entity_count times avg_total_equity across all 21 sections to get 82,603,303,197,082 baht, rounded to 82.6 trillion baht.
- Summed entity_count across all 21 sections and confirmed it equals 1,986,489, the DBD count of companies with a classified industry section.
- Divided financial and insurance's average equity of 486,817,104 baht by the national average of 41,582,563 baht to get 11.71, confirming it is about 11.71 times the national figure.
- Computed financial and insurance's and manufacturing's section totals as entity_count times avg_total_equity, summed them, and divided by the 82,603,303,197,082 baht national total to get 41.93 percent, versus 35,567 plus 230,396 divided by 1,986,489 equals 13.39 percent of classified companies.
- Divided wholesale and retail's entity_count of 715,976 by 1,986,489 to get 36.04 percent of classified companies, against an equity share of 31.27 percent computed the same way as the other sections.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- World Bank. (2025). GDP (current US$), Thailand. World Bank national accounts data. https://data.worldbank.org/indicator/NY.GDP.MKTP.CD?locations=TH
Frequently asked questions
What counts as shareholder equity in this data?
Total assets minus total liabilities, the amount that would remain for owners if a company paid off every debt today, as reported in each company's filed financial statement.
Why is the national average so much higher than what most companies actually hold?
A small group of capital heavy sections, financial and insurance, mining and utilities, average hundreds of millions of baht each and pull the weighted national figure well above what a typical smaller company carries.
Which industry has the highest average equity per company?
Financial and insurance, at 486.8 million baht per company, 11.71 times the national average of 41.6 million baht.
How many companies does the 82.6 trillion baht total cover?
1,986,489 companies with a classified industry section in the DBD registry, as of 7 Jul 2026.
Cite this page
Chatpong L. (2026). Average Thai Company Equity: 41.6 Million Baht in 2026. Max Data Insights. https://maxdatathailand.com/insights/how-much-equity-backs-the-average-thai-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.
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.