Top 10 Companies' Share of Thai Company Revenue (2026)
In short
The ten largest Thai companies by revenue report a combined 10.84 trillion baht, about 13.53 percent of Thailand's entire 80.15 trillion baht in reported company revenue as of 7 July 2026. Hua Seng Heng Commoditas, a gold trading house, leads at 3.32 percent of national revenue on its own. PTT ranks second at 2.31 percent. Five of the ten are gold bullion traders, together worth 8.52 percent of national revenue. Three PTT group companies add another 3.78 percent. Ten firms, a rounding error against 1,989,709 registered companies, carry more than one baht in eight.
What share of Thailand's revenue do the top 10 companies earn?
Ten companies carry 13.53 percent of every baht of revenue reported by Thailand's registered companies. Combined, the top 10 booked about 10.84 trillion baht against a national total of 80.15 trillion baht as of 7 July 2026 (DBD, 2026). Hua Seng Heng Commoditas leads the list with 2.66 trillion baht, a 3.32 percent share on its own. PTT follows at 1.85 trillion baht, a 2.31 percent share. Gold trading defines the rest of the list more than any single industry does. Five of the ten, Hua Seng Heng Commoditas, MTS Gold, YLG Corporation, YLG Bullion International, and Intergold Gold Trade, are gold bullion traders. Together those five move 6.83 trillion baht, 8.52 percent of national revenue, on their own. Three PTT group companies add a further 3.78 percent. Ten firms, a rounding error against 1,989,709 registered companies, hold more than one baht in eight of everything Thai companies report.
Revenue of Thailand's ten largest companies
- Hua Seng Heng Commoditas2,658
- PTT1,848
- MTS Gold1,432
- YLG Corporation1,201
- YLG Bullion International928
- PTT Oil and Retail Business683
- Intergold Gold Trade610
- Thai Oil508
- PTT Global Chemical499
- CP All473
Figures in billion baht.
Five of the ten bars belong to gold bullion traders. PTT and its two group companies make up three more.
The ten largest companies by revenue
| Rank | Company | Revenue, billion baht | Share of national revenue |
|---|---|---|---|
| 1 | Hua Seng Heng Commoditas Company Limited | 2,658 | 3.32% |
| 2 | PTT Public Company Limited | 1,848 | 2.31% |
| 3 | MTS Gold Company Limited | 1,432 | 1.79% |
| 4 | YLG Corporation Co Ltd | 1,201 | 1.50% |
| 5 | YLG Bullion International Company Limited | 928 | 1.16% |
| 6 | PTT Oil and Retail Business Public Company Limited | 683 | 0.85% |
| 7 | Intergold Gold Trade Co Ltd | 610 | 0.76% |
| 8 | Thai Oil Public Company Limited | 508 | 0.63% |
| 9 | PTT Global Chemical Public Company Limited | 499 | 0.62% |
| 10 | CP All Public Company Limited | 473 | 0.59% |
Revenue and share of national reported revenue, as of 7 Jul 2026.
Why this matters
Revenue concentration like this cuts two ways. The gold traders at the top move enormous sums with thin margins, since bullion resells close to cost, so their revenue share overstates their weight in profit or in tax paid. PTT's three listed entities are different. Energy revenue tracks oil prices and converts into real profit and real tax receipts far more directly than a bullion desk does. A national total built partly from ten companies is sensitive to how those ten specific firms perform in a given filing period. A gold price swing that shifts bullion trading volume, or a move in global oil that changes PTT's fuel margins, would nudge the national revenue figure well before the wider economy felt it. Watching this small set of firms is a faster read on the direction of Thailand's reported company revenue than waiting for the next full registry count.
Definitions
- Reported revenue
- The latest filed revenue a company submitted to the registry. Companies that never filed a financial statement contribute nothing to this figure.
- Top 10 share
- The combined revenue of the ten single companies with the highest filed revenue, divided by the national total of reported company revenue.
- Gold trading house
- A company whose principal business is buying and reselling gold bullion or gold products, recognizing the full transaction value as revenue.
- National total revenue
- The sum of filed revenue across every company in the registry that submitted a financial statement, updated as the registry refreshes.
Assumptions
- Revenue is the latest single filed figure per company, so filing years can differ slightly from one company to the next.
- The ten company ranking snapshot is dated 24 June 2026 while the national total is dated 7 July 2026, about two weeks apart.
- Gold trading revenue reflects transaction throughput, not profit, so revenue share should not be read as a share of profit or of tax paid.
Methodology
Company revenue is the latest filed revenue reported to Thailand's Department of Business Development registry. The ten largest companies are the ten single companies with the highest filed revenue, drawn from the registry's revenue ranking snapshot dated 24 June 2026. The national total of 80.15 trillion baht is the sum of filed revenue across every reporting company as of 7 July 2026. Because the ranking snapshot and the national total were refreshed about two weeks apart, the top 10 share is a close approximation rather than a same instant calculation. Return on assets and return on equity rankings from the same registry table are excluded from this analysis because a small number of outlier holding companies distort them.
How we verified this
- Summed the ten revenue values queried from market_trends_insight, metric revenue: 2,657,573,529,787.71 plus 1,848,428,895,849 plus 1,432,282,101,427.76 plus 1,200,903,620,319.29 plus 927,971,294,787.42 plus 683,096,998,995 plus 610,436,700,644.83 plus 508,114,726,308 plus 498,669,009,231 plus 473,009,380,740 equals 10,840,486,258,090.01 baht.
- Divided that sum by the national total revenue of 80,148,033,688,000.39 baht from market_national_insight: 10,840,486,258,090.01 divided by 80,148,033,688,000.39 equals 0.135256, which rounds to 13.53 percent.
- Summed the five gold trading companies in the top 10, Hua Seng Heng Commoditas, MTS Gold, YLG Corporation, YLG Bullion International, and Intergold Gold Trade: 6,829,167,246,967.01 baht, and divided by the national total to get 0.085207, or 8.52 percent of national revenue.
- Summed the three PTT group companies in the top 10, PTT, PTT Oil and Retail Business, and PTT Global Chemical: 3,030,194,904,075 baht, and divided by the national total to get 0.037807, or 3.78 percent of national revenue.
- Divided 10 by the registered company count of 1,989,709 from market_national_insight: 0.0000050, which rounds to 0.0005 percent.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- Puey Ungphakorn Institute for Economic Research. (2019). The role of market power and business dynamism. PIER Symposium Series, Bank of Thailand. https://www.pier.or.th/files/conferences/2019/pier_symposium_2019_1_1_paper.pdf
Frequently asked questions
What share of Thailand's total reported company revenue do the ten largest companies earn?
About 13.53 percent. The ten largest companies reported a combined 10.84 trillion baht against a national total of 80.15 trillion baht as of 7 July 2026.
Which company reports the highest revenue in Thailand?
Hua Seng Heng Commoditas Company Limited, a gold trading house, at about 2.66 trillion baht, 3.32 percent of national revenue on its own.
Why do gold trading companies dominate the revenue ranking?
Bullion trading books the full value of gold bought and resold as revenue even though the margin on each transaction is thin, so trading volume shows up as very large revenue without a matching profit.
How much of the top 10 is PTT group companies?
Three of the ten, PTT, PTT Oil and Retail Business, and PTT Global Chemical, together hold 3.78 percent of national revenue.
Cite this page
Chatpong L. (2026). Top 10 Companies' Share of Thai Company Revenue (2026). Max Data Insights. https://maxdatathailand.com/insights/top-10-companies-share-of-thai-corporate-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.