Over the past five years, investors know well that the Thai stock market has weathered countless storms, including the COVID-19 pandemic, economic volatility, and rising interest rates.
Finding stocks that achieve "profit growth" for one or two years is already impressive, but finding stocks with net profit growth for "5 consecutive years" is truly rare. Especially for large-cap stocks in the SET100, this strongly reflects exceptionally solid fundamentals.
Thairath Money has scanned data to present 5 standout SET100 companies that have continuously increased net profit from 2021 through 2025 without any slowdown. Let’s take a closer look at each.
Starting with the blue-chip giant in the banking sector, BBL (Bangkok Bank Public Company Limited) is known for its conservative approach, focusing primarily on lending to large and major businesses.
It is a name frequently ranked among banks favored by value investors who hold long-term positions, recognized for strong capital bases and a portfolio heavy in large business loans.
Interestingly, despite Thailand’s modest economic growth, BBL’s profits have risen steadily for five consecutive years, especially during the recent rising interest rate period, which expanded net interest margin (NIM) significantly. The bank has also consistently maintained strong loan loss provisions, supporting net profit growth.
Yuanta Securities (Thailand) views that BBL’s current stock price still lags behind other major banks, trading at a 2026 P/BV of only 0.5 times with a 20.6% upside from the original 2026 target price of 196 baht. The expected dividend is 9.2 baht per share, yielding 5.7%, leading to a maintained “buy” recommendation.
Next is ICHI, the beloved food and beverage stock, known for ready-to-drink green tea, herbal drinks, and recently expanding into non-tea products and contract manufacturing.
Many recall ICHI’s fierce green tea market battles years ago, but after business restructuring and serious cost management, ICHI has become one of the most consistently profitable beverage stocks, with net profit growing every year over the past five years.
Krungsri Securities notes that ICHI remains attractive, with an expected dividend yield of 7.5%. They view the investment’s risk/reward as favorable and forecast 2030 profit growth of 17%, supported by ongoing El Niño effects and easing costs. They anticipate improved business momentum in the second half of 2026 and recommend “buy” with a target price of 15.50 baht, based on a P/E of 16 times.
Returning to banking, KTB (Krung Thai Bank Public Company Limited) stands out as one of the banks with the most remarkable profit growth, driven by digital transformation and better cost control.
Its customer base includes retail, SMEs, government clients, and the digital platform “Pao Tang,” which has become a crucial infrastructure in Thailand’s financial system, holding vast data on Thai citizens.
The key to five consecutive years of profit growth has been expanding interest income, reduced loan loss provisions, and increased digital transaction income.
Kasikorn Securities recently called KTB a “safe investment providing a high 17% return,” split between 9% potential share price appreciation and an 8% dividend yield.
The investment safety is due to strong asset quality, with loan loss reserves at 200% of non-performing loans, plus a solid capital base supporting high dividend payouts and stable profit growth. They recommend “buy” with a target price of 36.00 baht.
With KTB, how could we miss its favored subsidiary KTC (Krungthai Card Public Company Limited), the market leader in credit cards and personal loans? Despite Bank of Thailand regulations capping interest rates and high household debt pressures,
KTC has demonstrated efficiency by maintaining consistently low non-performing loans (NPLs) and focusing on quality customer segments, enabling profit growth every year.
Bualuang Securities projects KTC’s 2026 net profit will reach 8.1 billion baht, a 4% increase, setting a new record due to portfolio expansion and rising net interest margin.
The stock remains attractive relative to profitability, with a forecasted 2026 return on equity (ROE) of 17.6% and a dividend yield of 6.5%, leading to a “buy” recommendation with a target price of 36 baht.
Finally, the hot stock in the education sector, SISB (Singapore International School Public Company Limited), is a real growth story. International schools offer relatively predictable income through advance tuition fees, and modern parents are willing to invest heavily in their children’s education.
SISB has continuously expanded new campuses and increased student enrollment, resulting in remarkable profit growth.
Krungsri Securities recommends “buy” with a target price of 15 baht, viewing SISB as a defensive stock with expected profit growth driven by increasing student numbers and grade advancement. The company benefits from operating leverage since 70%-80% of costs are fixed. Expansion into mid-market segments also presents growth opportunities.
These are the 5 major SET100 stocks that have achieved net profit growth for five consecutive years. However, a caution: past good performance does not guarantee future results. Before investing, be sure to thoroughly review future business plans and current valuations before committing funds.
Read stock and investment news with Thairath Money at
Follow the Facebook page: Thairath Money at this link