Thai Industries Ranked by Average Assets per Company (2026)
In short
Financial and insurance holds the most assets per filing company in Thailand, at 1,812.81 million baht as of 17 July 2026. Electricity and gas is a distant second at 392.03 million baht. Mining follows at 337.16 million baht. Wholesale and retail, the biggest sector by company count, averages only 56.37 million baht. Finance is 32 times larger per firm.
Which industry sections hold the most assets per company?
Financial and insurance, by a mile. The average filing company in that section reports 1,812.81 million baht in total assets (DBD, 2026). Electricity and gas comes next at 392.03 million baht, then mining and quarrying at 337.16 million baht. Manufacturing is fourth at 163.69 million baht. The finance figure is 4.62 times the runner-up and 32.16 times wholesale and retail, which averages 56.37 million baht. So the capital-heavy story is not only about banks. Power producers, miners and factories each carry balance sheets at least 2.9 times that of the wholesale and retail average.
Average total assets per filing company by industry section
- Financial and insurance1,813
- Electricity and gas392
- Mining and quarrying337
- Manufacturing164
- Education114
- Information and communication84
- Real estate84
- Water supply and waste73
- Agriculture, forestry and fishing72
- Human health and social work65
- Transportation and storage58
- Wholesale and retail trade56
- Accommodation and food service40
- Administrative and support36
- Professional, scientific and technical28
- Arts and entertainment23
- Construction23
- Public administration16
- Extraterritorial organizations9
- Other services9
- Households as employers1
Figures in million baht per company.
Finance dwarfs every other section. The three smallest sections have 17 or fewer filing companies, so treat their figures as anecdotes.
All 21 sections ranked by average assets
| Rank | Industry section | Avg assets, million baht | Filing companies | Equity to assets |
|---|---|---|---|---|
| 1 | Financial and insurance | 1,812.81 | 25,720 | 26.8% |
| 2 | Electricity and gas | 392.03 | 6,211 | 51.4% |
| 3 | Mining and quarrying | 337.16 | 3,579 | 65.9% |
| 4 | Manufacturing | 163.69 | 148,775 | 45.9% |
| 5 | Education | 114.49 | 10,012 | 5.9% |
| 6 | Information and communication | 84.37 | 38,810 | 42.4% |
| 7 | Real estate | 84.32 | 108,572 | 39.1% |
| 8 | Water supply and waste | 73.36 | 3,528 | 47.9% |
| 9 | Agriculture, forestry and fishing | 71.81 | 12,067 | 53.1% |
| 10 | Human health and social work | 64.73 | 13,183 | 61.6% |
| 11 | Transportation and storage | 57.58 | 51,510 | 41.3% |
| 12 | Wholesale and retail trade | 56.37 | 424,646 | 63.9% |
| 13 | Accommodation and food service | 40.19 | 59,330 | 28.3% |
| 14 | Administrative and support | 36.46 | 68,347 | 39.7% |
| 15 | Professional, scientific and technical | 28.12 | 99,165 | 49.3% |
| 16 | Arts and entertainment | 23.31 | 13,177 | 19.9% |
| 17 | Construction | 23.15 | 162,154 | 56.1% |
| 18 | Public administration | 15.66 | 17 | 40.2% |
| 19 | Extraterritorial organizations | 9 | 3 | 87.8% |
| 20 | Other services | 8.95 | 13,933 | 37.4% |
| 21 | Households as employers | 1.39 | 11 | 82.3% |
Average total assets, filing companies and equity to assets ratio by section, as of 17 Jul 2026.
Big balance sheets are not always owned balance sheets
Assets tell you how much capital sits inside a firm, not how much belongs to its owners. Mining holds 65.9 percent of its assets as equity, so its size is mostly owned. Finance holds 26.8 percent, which is what a balance sheet funded by deposits and premiums looks like. Education is the odd one. Its average company reports 114.49 million baht in assets but only 6.72 million baht in equity, an equity to assets ratio of 5.9 percent. That is the thinnest cushion of any section. Lenders should ask what funds it before they ask how big it is. Real estate, at 84.32 million baht per company, sits level with information and communication at 84.37 million baht.
Why this matters
Company counts make Thailand look like a nation of traders. Wholesale and retail has 424,646 filing companies and holds roughly 18.6 percent of the implied asset base. Finance has 25,720 filing companies and holds roughly 36.2 percent. A lender, supplier or investor sizing a sector by headcount of firms will misread where the capital actually sits. Average assets per company is a better first filter for who can carry debt, fund a capex cycle or absorb a bad year. It also flags the sections where a handful of very large filers pull the average far above what a typical company looks like, so check the spread before you act.
Definitions
- Average total assets
- Total assets summed across a section's filing companies and divided by their number.
- Filing company
- A registered company with at least one financial statement in the registry.
- Equity to assets
- Average equity divided by average assets. It shows how much of the balance sheet is owner funded.
- Implied sector assets
- Average assets multiplied by filing company count, used to estimate each section's share of all assets.
- TSIC section
- One of 21 lettered top level industry groups in the Thailand Standard Industrial Classification.
Assumptions
- Only companies that filed a financial statement contribute to the averages.
- Averages are pulled up by very large filers and are not typical-company values.
- Implied asset shares are derived by multiplication and not reported totals.
- Financial firm balance sheets include customer funds, so they are not comparable with industrial assets in kind.
- Table rows were computed on 17 July 2026, later than the 7 July anchors in the project data guide.
Methodology
Source: Department of Business Development registry aggregates, section level table computed 17 July 2026. Average assets per company is total assets divided by the number of companies in the section that filed a financial statement. Equity to assets is average equity divided by average assets. Implied sector asset shares multiply each section's average assets by its filing company count, so they are derived estimates and not reported totals. Averages are skewed upward by very large filers. Sections O, T and U have 17, 11 and 3 filing companies and are shown for completeness only.
How we verified this
- Financial and insurance average assets 1,812,807,182 baht divided by electricity and gas 392,033,078 baht equals 4.62.
- Financial and insurance 1,812,807,182 divided by wholesale and retail 56,374,513 equals 32.16.
- Financial and insurance 1,812,807,182 divided by manufacturing 163,685,245 equals 11.07.
- Education equity 6,720,637 divided by assets 114,494,172 equals 5.87 percent, shown as 5.9.
- Mining equity 222,352,836 divided by assets 337,164,555 equals 65.9 percent. Finance 486,383,073 divided by 1,812,807,182 equals 26.8 percent.
- Implied asset total across 21 sections is 128.93 trillion baht. Finance 25,720 times 1,812.81 million is 46.63 trillion, a 36.2 percent share. Wholesale and retail 424,646 times 56.37 million is 23.94 trillion, an 18.6 percent share.
- All 21 section codes A to U were present and sorted descending by average assets, with E at 73.36 above A at 71.81.
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
Which Thai industry has the highest average assets per company?
Financial and insurance, at 1,812.81 million baht per filing company as of 17 July 2026 (DBD, 2026).
Which non-financial sections are the most capital heavy?
Electricity and gas at 392.03 million baht, mining and quarrying at 337.16 million baht, and manufacturing at 163.69 million baht.
Why does education show large assets but little equity?
Its average company reports 114.49 million baht in assets against 6.72 million baht in equity, so most of its balance sheet is financed by liabilities.
Should I trust the figures for public administration, households and extraterritorial sections?
No. They rest on 17, 11 and 3 filing companies, so one firm can move the average.
Cite this page
Chatpong L. (2026). Thai Industries Ranked by Average Assets per Company (2026). Max Data Insights. https://maxdatathailand.com/insights/thai-industry-sections-ranked-by-average-assets-per-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.