DistressRatio

81 Stock Exchange of Thailand companies in Altman's distress band

81companies

An Altman Z-Score below 1.8, which is the band Altman called distress, computed from filed statements.

Stocks · Non-US shares · Stock Exchange of Thailand (SET) · Ranked by Altman Z-Score in ratio, largest company first · Rebuilt 2026-11-07 at 09:25 UTC

How this list is built

The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against total assets, from the newest filed statements. Where the filer raised going concern itself, that sentence is shown with its filing. The score classifies and does not rank: Altman published two cut-offs and no ordering below the lower one, so the list is ordered by size, largest company first. The screen: companies listed on Stock Exchange of Thailand, graded A or B for the quality of what they report; a median daily traded value of at least 250,000 US dollars over 90 sessions, stated in each listing's own currency, so a company nobody can trade is never on the list; and no positive price to earnings under 1, which no real company earns, and no close sitting the whole of its own 52-week high below that high, which no listing that still trades can do. 236 companies passed tonight. Each market is ranked on its own and never added to another. Figures as recomputed on 2026-11-07.

The list

50 of 81 companies

In the band Altman called distress, ranked by Altman Z-Score, largest company first
#	Company	Market	Sector	Altman Z-Score, in ratio	Current ratio, in ratio	Tangible equity ratio, in ratio	Operating margin, in percent	Altman Z-Score over time	Source
1	SET:TRUETrue Corporation Public Company Limited	SET	Communication Services	0.31	0.41	-0.45	18.6%	n/a	Source n/a
2	SET:TRUE-RTrue Corporation Public Company Limited	SET	Communication Services	0.31	0.41	-0.45	18.6%	n/a	Source n/a
3	SET:CPALL-RCP ALL Public Company Limited	SET	Consumer Defensive	1.50	0.61	-0.51	2.2%	n/a	Source n/a
4	SET:CPALLCP ALL Public Company Limited	SET	Consumer Defensive	1.50	0.61	-0.51	2.2%	n/a	Source n/a
5	SET:SCC-RThe Siam Cement Public Company Limited	SET	Industrials	1.65	1.01	0.36	-0.1%	n/a	Source n/a
6	SET:SCCThe Siam Cement Public Company Limited	SET	Industrials	1.65	1.01	0.36	-0.1%	n/a	Source n/a
7	SET:CRCCentral Retail Corporation Public Company Limited	SET	Consumer Cyclical	1.35	0.65	0.16	-4.7%	n/a	Source n/a
8	SET:CRC-RCentral Retail Corporation Public Company Limited	SET	Consumer Cyclical	1.35	0.65	0.16	-4.7%	n/a	Source n/a
9	SET:PTTGCPTT Global Chemical Public Company Limited	SET	Basic Materials	1.42	1.19	0.33	-2.3%	n/a	Source n/a
10	SET:CPFCharoen Pokphand Foods Public Company Limited	SET	Consumer Defensive	1.07	0.67	0.17	8.1%	n/a	Source n/a
11	SET:CPF-RCharoen Pokphand Foods Public Company Limited	SET	Consumer Defensive	1.07	0.67	0.17	8.1%	n/a	Source n/a
12	SET:GPSCGlobal Power Synergy Public Company Limited	SET	Utilities	1.26	1.73	0.17	10.9%	n/a	Source n/a
13	SET:GPSC-RGlobal Power Synergy Public Company Limited	SET	Utilities	1.26	1.73	0.17	10.9%	n/a	Source n/a
14	SET:THAIThai Airways International Public Company Limited	SET	Industrials	1.74	1.85	0.23	23.6%	n/a	Source n/a
15	SET:IVLIndorama Ventures Public Company Limited	SET	Basic Materials	1.14	0.98	0.12	-0.2%	n/a	Source n/a
16	SET:IVL-RIndorama Ventures Public Company Limited	SET	Basic Materials	1.14	0.98	0.12	-0.2%	n/a	Source n/a
17	SET:MINTMinor International Public Company Limited	SET	Consumer Cyclical	0.79	0.61	-0.04	10.9%	n/a	Source n/a
18	SET:MINT-RMinor International Public Company Limited	SET	Consumer Cyclical	0.79	0.61	-0.04	10.9%	n/a	Source n/a
19	SET:BANPU-RBanpu Public Company Limited	SET	Energy	1.06	1.02	0.23	5.9%	n/a	Source n/a
20	SET:BANPUBanpu Public Company Limited	SET	Energy	1.06	1.02	0.23	5.9%	n/a	Source n/a
21	SET:AWCAsset World Corp Public Company Limited	SET	Real Estate	0.57	0.06	0.47	23.7%	n/a	Source n/a
22	SET:AWC-RAsset World Corp Public Company Limited	SET	Real Estate	0.57	0.06	0.47	23.7%	n/a	Source n/a
23	SET:BEMBangkok Expressway and Metro Public Company Limited	SET	Industrials	0.71	0.58	-0.77	36.6%	n/a	Source n/a
24	SET:BEM-RBangkok Expressway and Metro Public Company Limited	SET	Industrials	0.71	0.58	-0.77	36.6%	n/a	Source n/a
25	SET:BJC-RBerli Jucker Public Company Limited	SET	Industrials	0.72	0.62	-0.23	-0.5%	n/a	Source n/a
26	SET:BJCBerli Jucker Public Company Limited	SET	Industrials	0.72	0.62	-0.23	-0.5%	n/a	Source n/a
27	SET:RATCHRatch Group Public Company Limited	SET	Utilities	0.93	1.22	0.34	8.7%	n/a	Source n/a
28	SET:RATCH-RRatch Group Public Company Limited	SET	Utilities	0.93	1.22	0.34	8.7%	n/a	Source n/a
29	SET:WHA-RWHA Corporation Public Company Limited	SET	Real Estate	1.41	1.43	0.19	32.3%	n/a	Source n/a
30	SET:WHAWHA Corporation Public Company Limited	SET	Real Estate	1.41	1.43	0.19	32.3%	n/a	Source n/a
31	SET:EGCO-RElectricity Generating Public Company Limited	SET	Utilities	1.21	1.62	0.44	6.1%	n/a	Source n/a
32	SET:EGCOElectricity Generating Public Company Limited	SET	Utilities	1.21	1.62	0.44	6.1%	n/a	Source n/a
33	SET:CENTELCentral Plaza Hotel Public Company Limited	SET	Consumer Cyclical	1.49	0.55	0.35	8.6%	n/a	Source n/a
34	SET:CENTEL-RCentral Plaza Hotel Public Company Limited	SET	Consumer Cyclical	1.49	0.55	0.35	8.6%	n/a	Source n/a
35	SET:BGRIM-RB.Grimm Power Public Company Limited	SET	Utilities	0.85	1.72	0.14	13.5%	n/a	Source n/a
36	SET:BGRIMB.Grimm Power Public Company Limited	SET	Utilities	0.85	1.72	0.14	13.5%	n/a	Source n/a
37	SET:TU-RThai Union Group Public Company Limited	SET	Consumer Defensive	1.77	1.70	0.12	4.8%	n/a	Source n/a
38	SET:TUThai Union Group Public Company Limited	SET	Consumer Defensive	1.77	1.70	0.12	4.8%	n/a	Source n/a
39	SET:CPNREITCPN Retail Growth Leasehold REIT	SET	Real Estate	0.74	0.33	0.45	73.4%	n/a	Source n/a
40	SET:LHLand and Houses Public Company Limited	SET	Real Estate	0.98	1.95	0.37	4.5%	n/a	Source n/a
41	SET:LH-RLand and Houses Public Company Limited	SET	Real Estate	0.98	1.95	0.37	4.5%	n/a	Source n/a
42	SET:BA-RBangkok Airways Public Company Limited	SET	Industrials	1.43	1.00	0.26	15.0%	n/a	Source n/a
43	SET:BABangkok Airways Public Company Limited	SET	Industrials	1.43	1.00	0.26	15.0%	n/a	Source n/a
44	SET:WHARTWHA Premium Growth Freehold And Leasehold Real Estate Investment Trust	SET	Real Estate	1.36	0.09	0.67	89.5%	n/a	Source n/a
45	SET:MBKMBK Public Company Limited	SET	Industrials	1.38	1.52	0.41	23.4%	n/a	Source n/a
46	SET:AMATAAmata Corporation Public Company Limited	SET	Real Estate	1.48	1.43	0.27	32.3%	n/a	Source n/a
47	SET:CK-RCH. Karnchang Public Company Limited	SET	Industrials	0.86	1.01	0.24	3.0%	n/a	Source n/a
48	SET:CKCH. Karnchang Public Company Limited	SET	Industrials	0.86	1.01	0.24	3.0%	n/a	Source n/a
49	SET:BTS-RBTS Group Holdings Public Company Limited	SET	Industrials	0.23	1.24	0.16	3.9%	n/a	Source n/a
50	SET:BTSBTS Group Holdings Public Company Limited	SET	Industrials	0.23	1.24	0.16	3.9%	n/a	Source n/a

This is the top of the list. The rest is a page away and no plan is needed for it.

Filed figures cite the filing they come from; figures marked Market data are quotes as of the date shown. Not a recommendation and not advice.

Past figures are not a forecast. Anything we modelled is labelled as ours. You can lose money on any security.