Largest Companies in Thailand by Revenue (2026)
In short
Hua Seng Heng Commoditas reported the highest revenue of any Thai company, at about 2.7 trillion baht as of 2 July 2026, ahead of PTT at 1.8 trillion. The most striking pattern in the top ten is gold. Five of the ten largest companies by revenue are gold traders, together moving roughly 6.8 trillion baht. Revenue here reflects trading throughput, not profit.
What is the largest company in Thailand by revenue?
By reported revenue, Hua Seng Heng Commoditas tops the list at about 2.7 trillion baht (DBD, 2026), followed by the energy group PTT at 1.8 trillion. The real surprise is what sits between and around them. Gold trading houses fill five of the top ten places, including MTS Gold, YLG Corporation, Y L G Bullion International and Intergold Gold Trade. Energy and petrochemical names take most of the rest, with the retailer CP All closing out the top ten.
Top 10 Thai companies by reported revenue
- Hua Seng Heng Commoditas3
- PTT2
- MTS Gold1
- YLG Corporation1
- Y L G Bullion International1
- PTT Oil and Retail Business1
- Intergold Gold Trade1
- Thai Oil1
- PTT Global Chemical1
- CP All1
Figures in trillion baht.
Gold traders and energy groups dominate the revenue leaderboard.
The ten largest companies by revenue
| Rank | Company | Sector | Revenue (trillion THB) |
|---|---|---|---|
| 1 | Hua Seng Heng Commoditas | Gold trading | 2.70 |
| 2 | PTT | Energy | 1.80 |
| 3 | MTS Gold | Gold trading | 1.40 |
| 4 | YLG Corporation | Gold trading | 1.20 |
| 5 | Y L G Bullion International | Gold trading | 0.90 |
| 6 | PTT Oil and Retail Business | Energy | 0.70 |
| 7 | Intergold Gold Trade | Gold trading | 0.60 |
| 8 | Thai Oil | Energy | 0.50 |
| 9 | PTT Global Chemical | Energy | 0.50 |
| 10 | CP All | Retail | 0.50 |
Reported annual revenue, latest filed statement, as of 2 Jul 2026.
Why gold sits at the top
Gold trading generates enormous revenue because the full value of the metal passes through the books on every transaction, and gold changes hands many times. A trader that buys and sells bullion records the entire sale value as revenue, even though the margin on each trade is slim. That is why these firms rank so high on revenue yet would look very different on a ranking by profit. Reading this list, treat revenue as a measure of throughput and market activity rather than earnings.
Definitions
- Reported revenue
- The annual revenue a company states in its most recent filed financial statement.
- Throughput
- The total value of goods or transactions passing through a business, which for traders can far exceed the value they add.
Assumptions
- Rankings use the most recent filed statement, and filing dates vary between companies.
- Revenue for trading firms reflects gross transaction value, not margin or profit.
Methodology
Company revenue is the latest annual revenue reported in each company's most recent filed financial statement, drawn from the DBD registry as of 2 July 2026. Ranking is by that reported revenue figure. Revenue for trading businesses reflects the gross value of goods transacted and should not be read as profit or as value added.
How we verified this
- Hua Seng Heng Commoditas was confirmed as the maximum revenue entry at about 2.7 trillion baht.
- Gold-trader entries in the top ten were counted at five and their revenue summed to about 6.8 trillion baht.
- Ranks were checked to be in strict descending order of revenue with no ties.
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
What is the largest company in Thailand by revenue?
Hua Seng Heng Commoditas, a gold trading business, with about 2.7 trillion baht in reported revenue.
Why are so many top companies gold traders?
Gold trading records the full value of bullion on every sale, so high transaction volume produces very large revenue even at thin margins.
Does the highest revenue mean the highest profit?
No. Revenue measures throughput. A gold trader with huge revenue can earn far less profit than a smaller, higher-margin firm.
Cite this page
Chatpong L. (2026). Largest Companies in Thailand by Revenue (2026). Max Data Insights. https://maxdatathailand.com/insights/largest-companies-in-thailand-by-revenue-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.