1. Thailand Stocks

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    Energy minerals

  3. •

    Oil refining/Marketing
Thai Oil Public Co. Ltd.

Thai Oil Public Co. Ltd.

1.77
USD
+0.97
(+121.61%)
0.45EPS
Nov 11Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
202.58
190.62
143.45
134.25
164.86
190.1
176.78
118.66
164.62
241.96
205.64
204.05
176.52
194
Basic EPS, GAAP
4.55
-2.02
5.95
10.37
12.15
4.96
3.07
-1.61
6.17
15.63
8.7
4.46
6.53
14.49
Free Cash Flow per Basic Share
1.66
2.77
10.17
7.9
14.57
5.04
-7.15
-22.6
-12.22
5.33
6.04
13.34
17.06
0.84
Dividend per Share
3.06
2.07
1.56
3.42
4.62
5.23
2.14
0.5
1.3
4.09
2.35
3.95
1.5
1.8
Book Value per Share
44.75
40.68
45.06
52.13
59.63
59.38
58.53
56.7
58.97
69.85
74.12
73.17
76.98
99.39
Tangible Book Value per Share
42.83
38.78
43.2
49.42
56.81
56.79
56.99
53.91
57.36
68.35
72.67
71.71
75.55
98
Basic Weighted Avg Shares
2,046
2,046
2,046
2,046
2,046
2,046
2,046
2,046
2,040
2,090
2,234
2,234
2,234
2,235
Sales/Revenue/Turnover
414,575
390,090
293,569
274,739
337,388
389,042
361,768
242,840
335,827
505,703
459,402
455,857
394,336
433,498
Operating Margin (%)
3.51
-1.72
5.63
9.13
8.62
3.45
1.73
-4.13
6.81
8.75
6.43
2.83
2.44
10.93
Depreciation Expense
6,033
6,533
6,766
7,762
7,642
7,264
6,923
7,554
7,424
7,744
7,799
8,106
8,065
8,209
Net Income, GAAP
9,316
-4,140
12,181
21,222
24,856
10,149
6,277
-3,301
12,578
32,668
19,443
9,959
14,584
32,370
Effective Tax Rate (%)
10.85
- -
11.33
9.61
17.92
16.03
15.18
- -
13.47
21.22
19.26
18.62
12.71
18.91
Profit Margin (%)
2.25
-1.06
4.15
7.72
7.37
2.61
1.74
-1.36
3.75
6.46
4.23
2.18
3.7
7.47
Working Capital
77,300
59,829
72,298
81,585
92,863
126,723
96,010
85,609
62,763
50,155
51,870
44,559
39,910
53,151
LT Debt
61,385
67,265
73,719
68,296
63,907
100,120
115,287
147,509
191,758
172,765
169,546
165,008
128,483
105,808
Total Equity
95,921
87,844
97,009
111,597
127,148
126,472
123,924
120,118
123,094
158,657
168,312
166,185
193,032
243,408
Return on Invested Capital (%)
8.23
- -
8.56
12.44
11.93
5.12
2.2
- -
5.36
10.64
6.42
3.79
5.25
10.35
Return on Capital (%)
8.01
- -
8.71
13.28
14.19
6.19
3.69
- -
5.1
10.43
6.39
3.82
5.27
9.95
Return on Common Equity (%)
10.38
-4.73
13.86
21.3
21.7
8.32
5.19
-2.8
10.61
23.59
12.09
6.05
8.7
16.56

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
5,210
12,407
13,562
LT Borrowings
111,982
89,285
89,466
LT Finance Leases
16,501
16,499
16,342
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2,234
2,234
2,234
Market Capitalization
- -
- -
- -

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
130,299
167,088
145,220
Cash, Cash Equivalents & STI
68,600
76,271
47,964
Accounts Receivable, Net
23,687
38,607
30,549
Inventories
32,104
39,033
50,565
Total Current Liabilities
90,389
117,857
92,069
Payables & Accruals
84,977
97,235
76,326
ST Debt
5,210
12,407
13,562
Deferred Revenue
- -
- -
- -

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
7.57%
10.47%
16.15%
Free Cash Flow
-4.97%
-4.18%
27.89%
Net Income, GAAP
-52.26%
-72.82%
46.45%
Sales/Revenue/Turnover
5.73%
13.09%
-13.5%
Total Cash Common Dividend
38.14%
69.95%
-62.02%

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
114,239
119,639
110,018
111,962
455,857
2025
106,270
99,086
80,049
108,931
394,336
2026
114,809
129,709
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2.62
2.48
-1.89
1.24
4.46
2025
1.57
2.9
0.96
1.1
6.53
2026
8.72
3.71
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
2.75
1.2
- -
3.95
2025
- -
0.7
0.8
- -
1.5
2026
- -
1
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Pongpun Amornvivat
Full Time Employees
1,745
Sector
Energy minerals
Industry
Oil refining/Marketing
Address
555/1 Energy Complex Building A Bangkok BM Thailand 10900
IPO Date
Oct 26, 2004
Website
thaioilgroup.com
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Business
Thai Oil Public Company Limited (TOP.BK) operates as Thailand's leading complex refinery, refining crude oil into a broad range of petroleum products including gasoline, diesel and gas oil, jet fuel, kerosene, fuel oil, and liquefied petroleum gas; petrochemicals such as paraxylene, benzene, toluene, and mixed xylenes; lube base oils; bitumen and asphalt; and specialty products like treated distillate aromatics extract and slack wax. The company also produces solvents for paints and mining, ethanol, linear alkyl benzene for detergents and cleaning products, and generates electricity, steam, and utilities through natural gas-fired combined-cycle co-generation power plants via investments in TOP SPP Co., Ltd. and Global Power Synergy Plc. Founded in 1961 and headquartered in Bangkok, Thailand, Thai Oil conducts its integrated operations primarily from its Sriracha refinery complex with a capacity of 275,000 barrels per day, serving domestic markets while exporting to international customers including CLMV countries (Cambodia, Laos, Myanmar, Vietnam); it functions as a subsidiary of PTT Group, focusing on oil refining, petrochemicals, power generation, and related downstream segments. In recent developments, Thai Oil advances its Clean Fuel Project through a significant engineering, procurement, and construction management contract awarded to Wood in 2025, aimed at expanding Sriracha refinery capacity, enhancing production of low-sulfur cleaner fuels like diesel and jet fuel, improving refining margins, and increasing crude processing flexibility to bolster Thailand's energy security. The company pursues debt reduction and liquidity enhancement via an asset monetization initiative approved in September 2025 involving long-term lease-and-leaseback arrangements for select infrastructure assets such as crude oil facilities; additionally, Q3 2025 results reflect net profits of THB 2.147 billion supported by stockpile gains and foreign bond repurchases, alongside joint venture contributions from PT Chandra Asri Petrochemical's Singapore acquisition and debenture redemptions. Thai Oil targets operational completion of delayed Clean Fuel Project elements by early 2025 amid subcontractor resolutions, positioning it for a 40% export ratio increase and sustained regional competitiveness.

Company News

Company News APIChatGPT

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