1. Thailand Stocks

  2. •

    Energy minerals

  3. •

    Oil refining/Marketing
Star Petroleum Refining Public Co. Ltd.

Star Petroleum Refining Public Co. Ltd.

15.60
THB
+0.70
(+4.70%)
3.90EPS
1.95P/E
32.95BMarket Cap
Nov 05Next Earn
Star Petroleum Refining Public Co. Ltd.
SET:SPRC.R
(Stock Exchange of Thailand)

Recent

price

15.60

P/E

ratio

1.95

div

yld

0.96%

ROIC.AI

2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
THB
63.57
63.05
55.5
43.22
35.74
39.12
48
38.89
29.89
39.28
64.88
60.41
61.36
55.64
57.29
Revenue per Share
1.09
0.97
-1.55
1.99
2
2.05
0.52
-0.65
-1.38
1.09
1.77
-0.28
0.52
0.59
3.9
Basic EPS, GAAP
1.25
0.86
0.62
4.96
1.76
2.5
1.5
-0.86
-0.41
0.85
-0.03
1.46
2.72
1.39
2.47
Free Cash Flow per Basic Share
1.32
1.09
0.45
3.59
2.19
1.11
1.27
0.12
0.06
- -
1.14
0.15
0.25
0.3
0.15
Dividend per Share
12.19
12.91
10.93
8.47
9.62
9.71
8.89
7.49
6.09
7.93
8.93
9.86
9.02
8.74
12.25
Book Value per Share
12.17
12.88
10.91
8.45
9.58
9.67
8.85
7.46
6.07
7.91
8.9
9.81
8.94
8.66
12.18
Tangible Book Value per Share
4,103
4,103
4,103
4,136
4,336
4,336
4,336
4,336
4,336
4,336
4,336
4,336
4,336
4,336
4,344
Basic Weighted Avg Shares
260,827
258,691
227,712
178,766
154,954
169,620
208,107
168,611
129,599
170,331
281,299
261,921
266,039
241,267
248,885
Sales/Revenue/Turnover
1.63
1.61
-3.85
5.54
6.75
5.58
0.97
-2.91
-6.11
3.6
3.43
-0.17
0.55
0.98
8.27
Operating Margin (%)
2,129
2,186
2,522
2,800
2,920
2,828
2,737
2,565
2,832
2,644
2,603
3,432
3,584
3,441
3,414
Depreciation Expense
4,485
3,977
-6,367
8,227
8,688
8,895
2,263
-2,809
-6,005
4,746
7,674
-1,230
2,235
2,569
16,952
Net Income, GAAP
24.25
16.61
- -
22.45
20.65
18.58
19.28
- -
- -
19.73
20.02
- -
20.8
17.46
19.83
Effective Tax Rate (%)
1.72
1.54
-2.8
4.6
5.61
5.24
1.09
-1.67
-4.63
2.79
2.73
-0.47
0.84
1.06
6.81
Profit Margin (%)
15,435
15,607
6,320
1,860
9,415
11,917
9,817
4,190
8,583
12,700
14,354
16,483
19,460
15,704
27,940
Working Capital
- -
- -
- -
2,659
2,580
- -
- -
- -
8,857
3,374
- -
1,461
8,200
3,754
1,892
LT Debt
50,012
52,970
44,843
36,725
41,719
42,101
38,529
32,476
26,427
34,371
38,707
42,771
39,106
37,920
53,135
Total Equity
- -
6.59
- -
17.34
17.83
15.52
3.59
- -
- -
12.02
16.6
- -
2.15
4.12
30.19
Return on Invested Capital (%)
- -
7.74
- -
19.25
19.72
19.38
5.55
- -
- -
12.43
17.45
- -
4.87
6.04
33.11
Return on Capital (%)
- -
7.72
-13.02
20.17
22.15
21.22
5.61
-7.91
-20.39
15.61
21
-3.02
5.46
6.67
37.67
Return on Common Equity (%)

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
1,826
7,122
3,283
LT Borrowings
1,750
- -
- -
LT Finance Leases
2,004
1,965
1,892
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
4,336
4,336
4,336
Market Capitalization
25,582
30,785
32,953

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
34,155
49,752
48,487
Cash, Cash Equivalents & STI
976
1,618
6,038
Accounts Receivable, Net
10,221
21,865
19,777
Inventories
21,112
25,678
22,205
Total Current Liabilities
18,452
29,027
20,547
Payables & Accruals
16,340
21,613
16,976
ST Debt
1,826
7,122
3,283
Deferred Revenue
- -
- -
- -

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
1.33%
8.32%
-3.03%
Free Cash Flow
-590.84%
-1,127.65%
-49.1%
Net Income, GAAP
-67.7%
-100.03%
14.97%
Sales/Revenue/Turnover
5.87%
16.39%
-9.31%
Total Cash Common Dividend
- -
- -
20%

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
68,348
69,579
64,260
63,853
266,039
2025
64,070
58,355
61,543
57,300
241,267
2026
49,318
80,725
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.91
0.08
-0.51
0.04
0.52
2025
0.16
-0.19
0.36
0.25
0.59
2026
1.7
1.6
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
0.25
- -
0.25
2025
- -
- -
0.15
- -
0.3
2026
- -
- -
- -
- -
- -
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Business
Star Petroleum Refining Public Company Limited operates a sophisticated petroleum refinery situated in the Map Ta Phut Industrial Estate within Thailand's Rayong Province. As a key player in the energy sector, the company processes crude oil with a capacity of approximately 175,000 barrels per day, contributing significantly to the nation's refining output. Its diverse product portfolio encompasses a range of transportation fuels, including liquefied petroleum gas, various grades of gasoline, jet fuel, diesel, fuel oil, and asphalt. Additionally, it supplies vital petrochemical feedstocks such as polymer grade propylene and chemical grade naphtha. While primarily serving the Thai domestic market through major distributors and its own recently acquired Caltex-branded fuels marketing business, which includes a network of about 450 service stations and over 200 wholesalers, SPRC also engages in exports to regional markets. Established in 1992, the company maintains its headquarters in Mueang Rayong, Thailand, and functions as a subsidiary, with Chevron South Asia Holdings Pte. Ltd. holding a majority ownership stake.