Thailand's Ten Largest Companies by Revenue and Industry (2026)
In short
Thailand's ten largest companies by revenue together report 10.84 trillion baht. That is 13.5 percent of the 80.15 trillion baht national total. Hua Seng Heng Commoditas leads at 2.66 trillion baht. Only two industry sections host the entire top ten, wholesale and retail trade with seven names and manufacturing with three. Five of the ten are gold traders.
Who are Thailand's ten largest companies by revenue?
Hua Seng Heng Commoditas Company Limited ranks first with 2.66 trillion baht in reported revenue (DBD, 2026). PTT Public Company Limited follows with 1.85 trillion baht. MTS Gold comes third at 1.43 trillion baht, then YLG Corporation at 1.20 trillion baht and Y L G Bullion International at 0.93 trillion baht. The second half of the list runs from PTT Oil and Retail Business at 0.68 trillion baht down to CP All at 0.47 trillion baht. Seven of the ten sit in wholesale and retail trade. The other three, all energy names, sit in manufacturing.
Revenue of the ten largest companies
- Hua Seng Heng Commoditas2,658
- PTT1,848
- MTS Gold1,432
- YLG Corporation1,201
- Y L G Bullion International928
- PTT Oil and Retail Business683
- Intergold Gold Trade610
- Thai Oil508
- PTT Global Chemical499
- CP All473
Figures in billion baht.
Five gold traders and four energy groups fill nine of the ten places. Only CP All comes from outside both clusters.
The named top ten with their industry section
| Rank | Company | Industry section | Revenue, billion baht |
|---|---|---|---|
| 1 | Hua Seng Heng Commoditas Company Limited | Wholesale and retail trade, gold trading | 2,658 |
| 2 | PTT Public Company Limited | Manufacturing, energy | 1,848 |
| 3 | MTS Gold Company Limited | Wholesale and retail trade, gold trading | 1,432 |
| 4 | YLG Corporation Co., Ltd. | Wholesale and retail trade, gold trading | 1,201 |
| 5 | Y L G Bullion International Company Limited | Wholesale and retail trade, gold trading | 928 |
| 6 | PTT Oil and Retail Business Public Company Limited | Wholesale and retail trade, fuel retail | 683 |
| 7 | Intergold Gold Trade Co., Ltd. | Wholesale and retail trade, gold trading | 610 |
| 8 | Thai Oil Public Company Limited | Manufacturing, refining | 508 |
| 9 | PTT Global Chemical Public Company Limited | Manufacturing, petrochemicals | 499 |
| 10 | CP All Public Company Limited | Wholesale and retail trade, convenience retail | 473 |
Ten largest companies by reported revenue, as of 17 Jul 2026. Revenue in billion baht.
Two sections, three clusters
Group the ten by business and the shape is plain. The five gold traders earn 6.83 trillion baht, which is 63.0 percent of top ten revenue. The four energy groups earn 3.54 trillion baht, or 32.6 percent. CP All alone supplies the last 4.4 percent at 0.47 trillion baht. Sorted by registry section, wholesale and retail trade holds 7.99 trillion baht of the top ten and manufacturing holds 2.86 trillion baht.
Why this matters
The headline ranking is not a list of famous household brands. Five of the ten places belong to bullion dealers whose revenue is the gross value of gold bought and sold, not value added. A baht of gold turnover is not a baht of factory output, so the top of this table says as much about commodity prices and trading volume as about size. Anyone benchmarking a Thai market should read the ranking in that light, and strip out the bullion dealers first. It also shows how top-heavy the registry is. Ten companies out of 1,264,734 filers carry 13.5 percent of all reported revenue. Energy and a single convenience retailer round out the list, and no other company reports more than 0.47 trillion baht.
Definitions
- Revenue
- Total income a company reports from selling goods and services in its filed financial statement, before costs.
- Industry section
- One of the 21 lettered top-level groups in the Thai Standard Industrial Classification, such as G for wholesale and retail trade.
- Aggregate
- A total or ratio computed across many companies rather than a single firm's own figure.
- Bullion dealer
- A company that buys and sells gold bars and gold ornaments, whose revenue counts the full sale price of the metal.
Assumptions
- Industry sections for individual companies are assigned from main business and confirmed against the registry only for the leaders of sections G and C, so treat them as estimates.
- Gold trading revenue is gross turnover, not value added, so it overstates economic size compared with manufacturers.
- Ranking rows were computed on 24 June 2026 and the national total on 17 July 2026, so the share mixes two refresh dates.
- Only companies with a filed financial statement are ranked. Other registry tables may show different multi-year revenue for the same names.
Methodology
Rankings come from the revenue top ten in the Department of Business Development registry aggregates, computed 24 June 2026. The national total of 80.15 trillion baht comes from the national aggregate computed 17 July 2026. Revenue is the filed revenue figure for each company's latest statement as held in the registry. Industry sections follow the TSIC section letters. Where a registry section lookup was not shown for a company, the section is assigned from its main business and should be treated as an estimate.
How we verified this
- Ten revenue values summed to 10,840.48 billion baht, which divided by the national total of 80,146.50 billion baht gives 13.53 percent, rounded to 13.5 percent.
- Gold traders: 2,657.57 + 1,432.28 + 1,200.90 + 927.97 + 610.44 = 6,829.16 billion baht, which is 63.0 percent of 10,840.48.
- Energy groups: 1,848.43 + 683.10 + 508.11 + 498.67 = 3,538.31 billion baht, which is 32.6 percent of 10,840.48.
- CP All 473.01 divided by 10,840.48 is 4.4 percent, and 63.0 + 32.6 + 4.4 sums to 100.
- Wholesale and retail trade: 6,829.16 + 683.10 + 473.01 = 7,985.27 billion baht, 73.7 percent. Manufacturing: 1,848.43 + 508.11 + 498.67 = 2,855.21, 26.3 percent. Sections sum to 10,840.48.
- Hua Seng Heng at 2,657.57 divided by 80,146.50 is 3.3 percent of national revenue.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- National Statistical Office of Thailand. (2025). National Statistical Office. Ministry of Digital Economy and Society. https://www.nso.go.th/
Frequently asked questions
Which company has the highest revenue in Thailand?
Hua Seng Heng Commoditas Company Limited, with 2.66 trillion baht in reported revenue in the DBD registry.
What share of national revenue do the top ten earn?
They earn 10.84 trillion baht, which is 13.5 percent of the 80.15 trillion baht national total.
Why are so many gold traders in the top ten?
Bullion dealers report the gross value of gold they buy and sell as revenue, so high turnover lifts them into the ranking even though their margins are thin.
Which industries do the top ten belong to?
Seven sit in wholesale and retail trade and three in manufacturing, based on their main business.
Cite this page
Chatpong L. (2026). Thailand's Ten Largest Companies by Revenue and Industry (2026). Max Data Insights. https://maxdatathailand.com/insights/thailands-ten-largest-companies-by-revenue-named-with-their-industry-2026
Data & corrections
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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.