Bangchak Corporation Public Company Ltd

Bangchak Corporation Public Company Ltd

52.25
THB
+1.75
(+3.47%)
9.25EPS
3.66P/E
49.74BMarket Cap
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
135.44
132.92
109.77
105.09
125.01
139.45
138.44
100.48
146.85
229.9
272.79
418.19
366.06
391.36
Basic EPS, GAAP
3.38
0.51
3.01
3.47
4.07
1.79
1.26
-5.13
5.61
9.26
9.64
1.59
2.08
9.28
Free Cash Flow per Basic Share
0.4
-1.25
5
2.16
5.17
-2.08
-1.27
0.26
4.49
7.03
23.67
7.16
8.71
- -
Dividend per Share
1.51
1.41
1.48
2
2.4
2.24
1.28
0.55
1.97
3.14
2.34
2.89
0.76
0.75
Book Value per Share
25.22
24.19
25.77
28.72
33.03
31.02
37.92
34.14
39.37
46.18
52.37
43.39
45.45
56.97
Tangible Book Value per Share
25.06
24.02
25.6
26.96
30.13
28.17
28.94
24.34
27.91
33.75
35.59
30.11
35.22
41.1
Basic Weighted Avg Shares
1,377
1,377
1,377
1,377
1,377
1,377
1,376
1,358
1,358
1,358
1,373
1,377
1,383
1,402
Sales/Revenue/Turnover
186,490
183,016
151,140
144,705
172,138
192,025
190,489
136,450
199,417
312,202
374,542
575,845
506,257
548,573
Operating Margin (%)
2.58
0.03
4.15
3.94
3.68
2.09
1.37
-1.67
8.67
12.08
6.6
3.27
3.53
5.98
Depreciation Expense
2,830
3,313
4,708
4,734
5,135
4,902
5,032
6,821
8,075
10,004
14,370
20,056
18,108
- -
Net Income, GAAP
4,652
696
4,151
4,773
5,608
2,463
1,732
-6,967
7,624
12,575
13,233
2,184
2,880
13,004
Effective Tax Rate (%)
16.46
- -
14.1
12.72
0.66
13.23
2.65
- -
30.22
45.89
42.4
80.63
46.99
17.8
Profit Margin (%)
2.49
0.38
2.75
3.3
3.26
1.28
0.91
-5.11
3.82
4.03
3.53
0.38
0.57
2.37
Working Capital
20,093
20,985
23,311
18,074
12,422
12,092
10,538
21,793
35,267
63,497
34,002
24,448
21,896
25,619
LT Debt
20,898
29,832
32,675
28,483
34,673
39,282
37,825
60,676
77,305
80,907
111,104
105,814
96,366
96,400
Total Equity
34,974
33,966
35,983
43,909
51,890
49,538
58,815
58,316
69,559
83,378
100,032
86,474
84,141
102,606
Return on Invested Capital (%)
31.04
- -
7.91
6.69
5.26
3.78
3.54
- -
7.46
10.19
6.75
2.07
1.92
6.32
Return on Capital (%)
9.89
- -
8.22
7.99
7.42
3.16
2.67
- -
5
7.06
8.19
0.63
2.74
7.13
Return on Common Equity (%)
13.92
2.05
12.07
12.73
13.19
5.59
3.67
-14.22
15.27
21.65
19.63
3.31
4.55
18

Capital Structure

THB

•

in mil. unless spec.
Sep'25
Dec'25
Jun'26
ST Debt
27,587
37,460
57,977
LT Borrowings
95,633
86,584
81,983
LT Finance Leases
9,950
9,783
14,417
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,377
1,473
1,463
Market Capitalization
42,340
38,289
49,741

Working Capital

THB

•

in mil. unless spec.
Sep'25
Dec'25
Jun'26
Total Current Assets
101,068
94,911
148,298
Cash, Cash Equivalents & STI
28,708
30,369
29,601
Accounts Receivable, Net
20,720
17,392
26,207
Inventories
37,596
32,803
61,290
Total Current Liabilities
73,777
73,016
122,679
Payables & Accruals
41,267
30,255
53,845
ST Debt
27,587
37,460
57,977
Deferred Revenue
- -
906
- -

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.64%
8.57%
-2.7%
Free Cash Flow
169.19%
381.73%
22.1%
Net Income, GAAP
-74.65%
-38.18%
31.85%
Sales/Revenue/Turnover
16.14%
32.87%
-12.08%
Total Cash Common Dividend
19.3%
49.04%
-73.58%

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
127,939
153,198
152,904
141,805
575,845
2025
134,230
125,581
123,235
123,211
506,257
2026
- -
176,546
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.77
1.32
-1.52
0.01
1.59
2025
1.54
-1.86
0.8
1.6
2.08
2026
- -
8.34
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
1.84
1.05
- -
2.89
2025
- -
0.67
0.09
- -
0.76
2026
- -
- -
- -
- -
- -

Company Description

CEO
Chaiwat Kovavisarach
Full Time Employees
1,103
Sector
Retail trade
Industry
Specialty stores
Address
2098 M Tower Building Bangkok BM Thailand 10260
IPO Date
Aug 2, 1994
Business
Bangchak Corporation Public Company Limited engages in petroleum refining, marketing, and sustainable energy businesses in Thailand and internationally. Founded in 1984 and headquartered in Bangkok, Thailand, the company operates two complex refineries, Bangchak Phra Khanong Refinery in Bangkok and Bangchak Sriracha Refinery in Chonburi, with a combined nameplate capacity of nearly 300,000 barrels per day; it produces gasoline, diesel, jet fuel, aviation fuel, biofuels including biodiesel and ethanol, bio-based products, petrochemicals such as paraxylene and solvents, and renewable electricity from solar, wind, hydropower, and natural gas. Bangchak distributes products through over 2,200 service stations nationwide under the Bangchak brand, supplemented by non-oil businesses including Inthanin Coffee outlets, lubricants, EV charging stations, and restaurants; it also conducts oil trading, operates oil terminals and seaports, invests in petroleum exploration and production via OKEA ASA in Norway, and pursues green power, bio-based products, and natural resources across 11 countries including Thailand, Cambodia, Laos, Singapore, Philippines, Norway, USA, Taiwan, Vietnam, China, and United Arab Emirates. The company serves transportation, aviation, shipping, construction, industrial, and agriculture sectors, with marketing channels targeting retail consumers and commercial customers; it emphasizes sustainability through Bangchak Initiative and Innovation Center for green energy and bio-based innovations. In recent developments, Bangchak completed the acquisition of 65.99% of Esso (Thailand) Public Company Limited from ExxonMobil in August 2023 for THB22.6 billion, rebranding over 700 Esso stations to Bangchak and expanding its network to more than 2,200 locations, which elevated its market share to 29.1% as Thailand's second-largest oil retailer; this integration generated over THB6 billion in synergies in 2024. In 2025, Bangchak launched a tender offer to acquire the remaining 18.3% of Bangchak Sriracha Public Company Limited (formerly Esso Thailand) through a share swap at a ratio of 6.5 BSRC shares per one BCP share, from October 24 to November 27, aiming for full integration into a single listed entity to enhance operational efficiency and eliminate dual listing; the company also produces Euro 5 low-sulfur fuels, B24 sustainable marine fuel certified under ISCC EU standards, and advances sustainable aviation fuel production.