Widest and Narrowest Net Margins Among Thai Industry Codes 2026
In short
The widest net margin among Thailand's roughly 1,228 five digit industry codes is 87.05 percent, held by a single code, as of 7 July 2026. Among codes classified as financial and insurance specifically, one code leads at 73.19 percent. The worst performer in the whole registry is a different code at negative 93.50 percent. Three information and communication codes also post margins below negative 32 percent. None of this shows up at the 21 section level, where these same codes blend into averages of a few percentage points either side of zero.
Which five digit codes post the widest and narrowest margins?
Thailand's registry classifies companies into 1,228 five digit TSIC codes. Of those, 936 have at least 20 companies with a filed financial statement, enough to make a margin comparison meaningful (DBD, 2026). Ranked by net margin, the single widest code is TSIC 70100 in the professional and technical services section, at 87.05 percent. Restrict the field to codes classified under financial and insurance and the leader is TSIC 66193, at 73.19 percent. At the other end sits TSIC 01224 in the agriculture section, at negative 93.50 percent, the single worst margin in the entire registry. Three codes inside information and communication, TSIC 63120, TSIC 61102 and TSIC 63112, all post margins below negative 32 percent. Fourteen codes in total cross that negative 32 percent line. Separately, 243 of the 936 comparable codes run a negative margin altogether, a share of 25.96 percent.
Highest and lowest net margins among five digit TSIC codes
- 70100 (M)87
- 66193 (K)73
- 64192 (K)70
- 64201 (K)68
- 01191 (A)57
- 85301 (P)55
- 01199 (A)-46
- 61102 (J)-52
- 70200 (M)-56
- 63120 (J)-56
- 49201 (H)-83
- 01224 (A)-93
Figures in percent net margin.
One code above 100 percent, where reported net profit exceeded revenue more than threefold, was dropped as a data outlier and excluded from this ranking.
The six widest and six narrowest margins by TSIC code
| TSIC code | Section | Net margin | Companies reporting |
|---|---|---|---|
| 70100 | M, professional and technical | 87.05% | 313 |
| 66193 | K, financial and insurance | 73.19% | 346 |
| 64192 | K, financial and insurance | 70.43% | 22 |
| 64201 | K, financial and insurance | 68.29% | 999 |
| 01191 | A, agriculture | 56.60% | 28 |
| 85301 | P, education | 54.60% | 53 |
| 01199 | A, agriculture | -46.42% | 94 |
| 61102 | J, information and communication | -52.34% | 460 |
| 70200 | M, professional and technical | -55.82% | 69 |
| 63120 | J, information and communication | -56.34% | 61 |
| 49201 | H, transportation and storage | -82.67% | 174 |
| 01224 | A, agriculture | -93.50% | 23 |
Net profit margin, section letter and reporting companies per five digit TSIC code, as of 7 Jul 2026.
Why the 21 section view hides all of this
Section level statistics flatten this entire story. Section M, home to the 87.05 percent leading code, carries an overall margin of just 13.64 percent across its 138,962 companies. Section K, home to the 73.19 percent leading code, averages 25.40 percent across 35,567 companies. Section A, home to the very worst code in the registry, averages a positive 2.55 percent across 19,259 companies, giving no hint that one of its codes loses 93.50 baht for every 100 baht of revenue. Section J, home to three codes below negative 32 percent, still reports an overall margin of 5.81 percent because its 52,537 companies include many that are healthy. A national or sector average tells you what an industry does on the whole. It tells you almost nothing about the narrow codes sitting inside it, some of which are printing money and some of which are burning through revenue at a rate that would sink most businesses within a year. The Bank of Thailand's own sector briefings describe a similar pattern in reverse, noting that overall corporate profitability weakened across most sectors even as pockets such as tourism related services improved (Bank of Thailand, 2025). Averages move slowly. The codes underneath them do not.
Definitions
- Five digit TSIC code
- The most granular level of Thailand's industry classification system, sitting beneath the 21 lettered sections. Thailand has roughly 1,228 such codes in active use.
- Net margin
- Net profit as a share of revenue. A margin of 20 percent means 20 baht of profit for every 100 baht of revenue.
- Aggregate margin
- Total net profit for all companies in a code or section divided by their total revenue, rather than the average of each company's own margin.
- Outlier exclusion
- A code was removed from the ranking because its reported net profit exceeded its revenue by more than three times, a result more consistent with one off gains than ordinary operating performance.
- Companies reporting
- The count of companies within a code that filed a financial statement and therefore contribute to its margin calculation.
Assumptions
- Only TSIC codes with at least 20 companies that filed a financial statement are included in the ranking, to avoid ratios driven by a handful of firms.
- One code with a net margin above 100 percent was excluded as a mathematical outlier where net profit exceeded revenue by more than three times.
- Margins are aggregate net profit divided by aggregate revenue for each code, not the average of each company's individual margin.
- Code level descriptions are not published in this dataset, so codes are identified only by their five digit number and one letter section.
Methodology
Net margin is aggregate net profit divided by aggregate revenue for all companies within a five digit TSIC code that filed a financial statement, drawn from the DBD registry as of 7 July 2026. Only codes with at least 20 companies with a filed financial statement are ranked, which leaves 936 of the 1,228 five digit codes in the comparison. One code with a reported margin above 100 percent, where net profit exceeded revenue by more than three times, was excluded as a data outlier likely driven by one off gains rather than core operations. Margins are section wide or code wide aggregates, not the average of each company's own margin, and industry codes are identified only by their five digit number and one letter section because code level descriptions are not published in this dataset.
How we verified this
- TSIC 70100 net margin recomputed as 47,900,399,066.08 divided by 55,027,498,631.34, equal to 87.05 percent, matching the reported figure.
- TSIC 66193 net margin recomputed as 3,288,372,651.34 divided by 4,492,671,597.00, equal to 73.19 percent.
- TSIC 01224 net margin recomputed as negative 44,205,663.29 divided by 47,277,187.50, equal to negative 93.50 percent.
- Of 936 TSIC codes with at least 20 reporting companies, 14 sit below negative 32 percent margin, and 3 of those 14, TSIC 63120, 61102 and 63112, are information and communication codes, a share of 21.43 percent of the 14.
- 243 of the 936 eligible codes carry a negative aggregate margin, a share of 25.96 percent.
- The spread between the highest ranked code at 87.05 percent and the lowest ranked code at negative 93.50 percent is 180.55 percentage points.
- Section level margins were recomputed from raw totals in market_section_insight: section M at 147,759,004,369.09 divided by 1,083,119,649,041.14 equals 13.64 percent, section K at 839,194,964,359.76 divided by 3,303,685,444,529.50 equals 25.40 percent, section A at 12,538,365,232.07 divided by 491,734,988,828.28 equals 2.55 percent, and section J at 77,344,305,682.43 divided by 1,332,051,340,194.99 equals 5.81 percent.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- Bank of Thailand. (2025). Banking sector quarterly brief, Q3 2025. https://www.bot.or.th/content/dam/bot/documents/en/news-and-media/news/2025/news-20251118.pdf
Frequently asked questions
Which Thai industry code has the widest profit margin in 2026?
TSIC 70100, a code in the professional and technical services section, at an 87.05 percent net margin as of 7 July 2026. Among codes classified as financial and insurance specifically, TSIC 66193 leads at 73.19 percent.
Which industry code has the worst profit margin?
TSIC 01224, a code in the agriculture section, at a negative 93.50 percent net margin, the lowest of any five digit code with at least 20 reporting companies.
Why do three information and communication codes post margins below negative 32 percent?
TSIC 63120, 61102 and 63112 each carry aggregate net losses larger than a third of their revenue. These are code level aggregates covering all reporting companies in that code, not a claim about any single company.
Does the section average for finance or agriculture reflect these extremes?
No. Section K, financial and insurance, averages 25.40 percent overall, well below its own 73.19 percent leading code. Section A, agriculture, averages a positive 2.55 percent overall despite containing the worst performing code in the registry.
Cite this page
Chatpong L. (2026). Widest and Narrowest Net Margins Among Thai Industry Codes 2026. Max Data Insights. https://maxdatathailand.com/insights/which-thai-industry-codes-have-the-widest-profit-margins-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.