Average Revenue per Thai Company, 2007 to 2025
In short
Average revenue per filing company in Thailand reached about 95.0 million baht in 2025. That is up 33.3 percent from a pandemic trough of 71.3 million baht in 2020. It still sits 4.8 percent below the 2012 peak of 99.8 million baht. The number of filing companies grew 126.7 percent between 2007 and 2025. Total revenue grew faster over the same span, up 183.2 percent, which is why the average climbed too. Average revenue per company rose a modest 24.9 percent over the full 18 years, a compound pace of just 1.25 percent a year.
Has average revenue per Thai company risen or fallen since 2007?
Average revenue per filing company in Thailand did not move in a straight line across the past two decades. It climbed from 76.0 million baht in 2007 to a peak of 99.8 million baht in 2012 (DBD, 2026). It then declined in seven of the next eight years, interrupted only by a slight uptick in 2018, and bottomed at 71.3 million baht in 2020, the year Thailand's economy took its sharpest hit in over a decade. From that trough it has climbed back, reaching 95.0 million baht by 2025. That puts the current figure 4.8 percent below the 2012 peak but 33.3 percent above the 2020 low. Over the full 18 years the net gain looks modest on paper, just 24.9 percent, a compound annual pace of 1.25 percent.
Average revenue per filing company, 2007 to 2025
Figures in million baht per company.
The 2012 peak and 2020 trough bracket a wide swing. By 2025 the average has recovered most, though not all, of the lost ground.
Filing companies, revenue and the average by year
| Year | Filing companies | Total revenue (THB trillion) | Avg revenue per company (THB million) |
|---|---|---|---|
| 2007 | 315,581 | 24 | 76 |
| 2008 | 324,606 | 28 | 86 |
| 2009 | 329,995 | 25 | 77 |
| 2010 | 352,500 | 30 | 85 |
| 2011 | 376,859 | 35 | 92 |
| 2012 | 403,444 | 40 | 100 |
| 2013 | 433,671 | 42 | 97 |
| 2014 | 458,464 | 42 | 91 |
| 2015 | 480,268 | 41 | 85 |
| 2016 | 505,168 | 43 | 84 |
| 2017 | 535,469 | 44 | 83 |
| 2018 | 570,307 | 48 | 84 |
| 2019 | 594,830 | 48 | 81 |
| 2020 | 617,294 | 44 | 71 |
| 2021 | 648,550 | 49 | 75 |
| 2022 | 675,284 | 59 | 87 |
| 2023 | 705,512 | 60 | 85 |
| 2024 | 730,322 | 65 | 88 |
| 2025 | 715,339 | 68 | 95 |
Total reported revenue and average revenue per filing company by statement year, as of 14 Aug 2026.
Why this trend matters
The two decades split into three distinct stretches. Between 2007 and 2012 the average climbed as revenue growth outran a still-growing filing base. From 2013 to 2020 the trend reversed, filing companies kept multiplying every single year while revenue growth cooled and then dropped outright in the pandemic year. From 2021 to 2025 the recovery has been real but incomplete, since the average has not yet cleared its old high. A reader who only watches the raw revenue total would miss most of this story. Total revenue actually rose in five of the eighteen years even while the per company average was falling, because company count rose even faster. Dividing by company count is what exposes the squeeze. The 2018 statement year also carried an unusual lift in total revenue as registry coverage expanded that year, so this trend relies on the full year by year path and the 2007, 2012, 2020 and 2025 markers rather than reading 2018 on its own. For anyone lending to Thai firms, pricing supplier risk, or sizing a market entry, the lesson is plain. A growing corporate register does not by itself mean the average company inside it is earning more.
Definitions
- Average revenue per company
- Total reported revenue for a statement year divided by the number of companies that filed a financial statement that year. It is a population mean, not a median, so a small number of very large filers can pull it upward.
- Statement year
- The fiscal year a company's filed financial statement covers. The source system records it on the Thai Buddhist calendar, converted here to the Gregorian year.
- Filing company
- A registered company that submitted a financial statement to the DBD for a given statement year, as opposed to the full base of registered companies, many of which never file.
- Compound annual growth rate
- The steady yearly percentage rate that would carry a value from its starting level to its ending level over a given number of years, if growth had been even every year rather than uneven as it actually was.
- Pandemic trough
- The lowest point in a time series that coincides with the 2020 economic contraction tied to covid-19, used here to mark 2020 as the low year for average revenue per company.
Assumptions
- Average revenue per company is a population mean across all filers in a year, not a matched panel of the same companies followed over time, so part of the year to year change reflects companies entering or leaving the filing base rather than existing companies changing size.
- Only companies that filed a financial statement for a given statement year are counted in that year's figures, not the full registered base, which is larger.
- The 2018 statement year carried an unusually large rise in total revenue as registry coverage expanded, so this trend leans on the full multi-year path and the 2007, 2012, 2020 and 2025 endpoints rather than reading 2018 in isolation.
- Statement years follow the Thai Buddhist calendar in the source system and were converted to the Gregorian year used throughout this page.
- Statement year 2026, Buddhist year 2569, is excluded because it held only 4,534 filed statements at the snapshot date, far short of a complete filing year.
Methodology
Average revenue per company is each statement year's total reported revenue divided by the number of companies that filed a financial statement that year, drawn from the DBD registry aggregates in Max Data as of 14 August 2026. The source table records statement years on the Thai Buddhist calendar, converted here to the Gregorian year, for example 2555 becomes 2012 and 2568 becomes 2025. The 2026 statement year is excluded because only about 4,534 companies had filed by the snapshot date, far too few to represent a complete year. This is a population average across every company that filed in a given year, not a fixed panel followed over time, so part of any year to year move reflects new filers entering alongside existing ones changing size.
How we verified this
- Divided each year's total_revenue by that year's company_count for all 19 statement years after excluding 2569, confirming 2012, Buddhist year 2555, as the maximum average at 99.766862 million baht and 2020, Buddhist year 2563, as the minimum at 71.268160 million baht.
- Recomputed the peak to trough move as 71.268160 divided by 99.766862 minus one, equal to negative 28.6 percent.
- Recomputed the trough to 2025 recovery as 94.989555 divided by 71.268160 minus one, equal to positive 33.3 percent.
- Recomputed the 18 year change from 2007 to 2025 as 94.989555 divided by 76.023235 minus one, equal to positive 24.9 percent, then took that ratio to the power of one eighteenth minus one to get a compound annual rate of 1.25 percent.
- Recomputed filing company growth from 2007 to 2025 as 715339 divided by 315581 minus one, equal to positive 126.7 percent, and total revenue growth over the same span as positive 183.2 percent.
- Converted every statement_year from the Buddhist calendar to the Gregorian year shown in the chart and table, for example 2550 to 2007 and 2561 to 2018, and confirmed statement year 2569, Gregorian 2026, held only 4,534 filed statements before excluding it.
- Compared total revenue and the average side by side for every year over year step from 2007 to 2025, finding total revenue rose in 14 of the 18 steps and the average fell in 9 of the 18 steps, with the two moving in opposite directions, revenue up and average down, in exactly 5 of those 18 steps: 2013, 2016, 2017, 2019 and 2023.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- World Bank. (2020). Thailand economic monitor: Thailand in the time of COVID-19. World Bank Group. https://www.worldbank.org/en/country/thailand/publication/thailand-economic-monitor-june-2020-thailand-in-the-time-of-covid-19
Frequently asked questions
What is the average revenue per company in Thailand in 2025?
About 95.0 million baht per filing company, from 67.95 trillion baht in total reported revenue across 715,339 companies that filed a statement for statement year 2025.
When was average revenue per company at its highest?
In 2012, at 99.8 million baht per filing company, before it declined in seven of the next eight years, interrupted only by a slight uptick in 2018, and bottomed at a 2020 trough of 71.3 million baht.
Why did average revenue per company fall between 2012 and 2020?
The number of filing companies kept rising every year while total revenue growth slowed and then dropped in the pandemic year, so the same pool of revenue got divided across more companies each year.
Does the 2018 revenue spike affect this trend?
Total revenue rose unusually in 2018 as DBD registry coverage expanded that year, so this page relies on the full 19 year path and the 2007, 2012, 2020 and 2025 markers rather than treating 2018 as a milestone on its own.
Cite this page
Chatpong L. (2026). Average Revenue per Thai Company, 2007 to 2025. Max Data Insights. https://maxdatathailand.com/insights/thailands-revenue-per-company-trend-2007-2025
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.