Ptt Pcl

PTT PCL maintains a capital structure characterized by significant leverage, with long-term debt of 985.8 billion THB against total equity of 1,127.4 billion THB, resulting in a debt-to-equity ratio of 0.87. The company holds 80.5 billion THB in cash and equivalents, leading to a negative net cash position after subtracting total debt. Liquidity is supported by a current ratio of 1.6, indicating adequate short-term asset coverage for liabilities. Operating cash flow stands at 299.3 billion THB, while free cash flow is 60.9 billion THB, reflecting substantial capital expenditures of 174.8 billion THB. The market capitalization is 1,062.2 billion THB, with a share count of 28.3 billion basic and diluted shares.

Profitability metrics show a return on equity (ROE) of 8.21% and a return on assets (ROA) of 2.83%. The company reports a net income of 90.2 billion THB on revenue of 2,662.1 billion THB, yielding a net margin of approximately 3.4%. Operating income is 202.7 billion THB, and gross profit is 272.9 billion THB. Valuation multiples include a price-to-earnings (P/E) ratio of 11.47, a price-to-book (P/B) ratio of 0.94, and an EV/EBITDA of 9.11. The EV/Revenue ratio is 0.73, suggesting the market values the enterprise at less than one times its annual revenue.

Revenue concentration and segment details are not explicitly provided in the available data, preventing a detailed analysis of geographic or business segment exposure. The company operates as an integrated entity, implying diversification across upstream and downstream activities, but specific revenue breakdowns by segment or region are absent from the current snapshot.

Growth trajectory analysis is limited due to the absence of historical period data in the input. Without multi-year revenue or net income trends, it is not possible to assess the company's growth rate, volatility, or cyclical positioning relative to prior periods. The current financial snapshot provides a static view of performance without temporal context for trend analysis.

Risk assessment indicates medium liquidity risk and low dilution risk. A key flag notes that net cash is negative after subtracting total debt, highlighting reliance on debt financing. The company's large asset base of 3,269.7 billion THB and liability base of 2,142.2 billion THB suggest a capital-intensive business model typical of integrated oil and gas firms. The absence of specific geopolitical or regulatory risk scores in the narrative constraints prevents detailed commentary on external risk factors.

Recent events and analyst sentiment show a mean price target of 39.25 THB and a median target of 40.00 THB, with a high target of 43.00 THB and a low of 35.00 THB. The mean recommendation is 2.12, indicating a moderate buy stance, with 4 strong buys, 7 buys, and 6 holds. Competitor context lists Chevron, Shell, and BP, but no specific comparative metrics are provided. No filing, news, or transcript observations are present in the input data.

Ptt PCL (PTT.BK) has expanded its operating infrastructure portfolio with the addition of several key gas pipeline assets in Thailand. The most notable developments include the Erawan-Rayon Gas Pipeline 1, which has a capacity of 860 MMcf/d, and the Rayong-Bang Pakong 1 Gas Pipeline, operating at 540 MMcf/d. These additions signal a strengthening of the company’s midstream capabilities within the domestic energy network. Further reinforcing this infrastructure growth, the company now lists the Nam Phong Field-Nam Phong Power Plant Gas Pipeline, with a capacity of 140 MMcf/d, as an operating asset. Additionally, the Nakhon Ratchasima Gas Pipeline and the Trans Thailand–Malaysia Gas Pipeline (TTM) have been added to the company’s asset register, both currently in operating status. These pipelines enhance connectivity and transport capacity for natural gas across critical regions. This expansion of operating gas pipelines is significant for Ptt PCL’s role in Thailand’s energy supply chain, ensuring reliable transport of natural gas from production fields to power plants and industrial centers. By increasing its operational footprint in midstream infrastructure, the company supports the stability and efficiency of the national gas distribution network. While no other material changes were recorded in the broader analysis, the addition of these specific assets underscores Ptt PCL’s continued investment in essential energy infrastructure. The company remains under the coverage of 12 analysts, reflecting ongoing market interest in its operational developments and strategic positioning within the energy sector.

Free cash flow surged 70.3% year-over-year to THB 60.9 billion in FY2026, demonstrating strong cash generation capabilities.

Analysts project 7.5% upside to a mean price target of THB 39.25, reflecting a consensus buy recommendation.

Cash conversion ratio of 3.23 exceeds the 75th percentile of the Integrated Oil & Gas cohort median of 1.77.

Long-term debt decreased to THB 985.8 billion in FY2026, indicating a deleveraging trend from previous fiscal years.

Net margin of 3.45% and operating margin of 8.05% both trail the Integrated Oil & Gas cohort medians.

The company carries a high credit risk flag, indicating potential vulnerabilities in its financial stability or debt servicing.

Debt-to-equity ratio of 0.87 is significantly higher than the cohort median of 0.49, implying elevated leverage risk.

Revenue THB 718.73B, +2,6% YoY; Operating income +22,4% YoY.

• ▍Revenue THB 718.73B, +2,6% YoY
• ▍Operating income +22,4% YoY
• ▍Net income +10,4% YoY
• ▍Free cash flow −18,3% YoY
• ▍Net margin 3.6%

Revenue THB 638.48B, −11,9% YoY; Operating income +26,8% YoY.

• ▍Revenue THB 638.48B, −11,9% YoY
• ▍Operating income +26,8% YoY
• ▍Net income +174,2% YoY
• ▍Free cash flow −92,1% YoY
• ▍Net margin 4.0%

Revenue THB 646.69B, −15,1% YoY; Operating income +12,7% YoY.

• ▍Revenue THB 646.69B, −15,1% YoY
• ▍Operating income +12,7% YoY
• ▍Net income +21,2% YoY
• ▍Free cash flow +302,6% YoY
• ▍Net margin 3.1%

Revenue THB 676.75B, −17,7% YoY; Operating income −42,0% YoY.

• ▍Revenue THB 676.75B, −17,7% YoY
• ▍Operating income −42,0% YoY
• ▍Net income −39,3% YoY
• ▍Free cash flow −54,8% YoY
• ▍Net margin 3.2%

Revenue THB 700.22B; Operating income THB 58.55B.

• ▍Revenue THB 700.22B
• ▍Operating income THB 58.55B
• ▍Net margin 3.3%

Revenue THB 724.37B; Operating income THB 37.12B.

• ▍Revenue THB 724.37B
• ▍Operating income THB 37.12B
• ▍Net margin 1.3%

Revenue THB 761.86B; Operating income THB 44.69B.

• ▍Revenue THB 761.86B
• ▍Operating income THB 44.69B
• ▍Net margin 2.1%

Revenue THB 821.94B; Operating income THB 80.55B.

• ▍Revenue THB 821.94B
• ▍Operating income THB 80.55B
• ▍Net margin 4.3%

Revenue THB 2.66T, −13,9% YoY; Operating income −13,4% YoY.

• ▍Revenue THB 2.66T, −13,9% YoY
• ▍Operating income −13,4% YoY
• ▍Net income +0,1% YoY
• ▍Free cash flow +70,3% YoY
• ▍Net margin 3.4%

Revenue THB 3.09T, −1,7% YoY; Operating income −16,1% YoY.

• ▍Revenue THB 3.09T, −1,7% YoY
• ▍Operating income −16,1% YoY
• ▍Net income −19,6% YoY
• ▍Free cash flow −61,4% YoY
• ▍Net margin 2.9%

Revenue THB 3.14T, −6,6% YoY; Operating income +14,4% YoY.

• ▍Revenue THB 3.14T, −6,6% YoY
• ▍Operating income +14,4% YoY
• ▍Net income +22,9% YoY
• ▍Free cash flow +413,0% YoY
• ▍Net margin 3.6%

Revenue THB 3.37T, +49,1% YoY; Operating income +2,1% YoY.

• ▍Revenue THB 3.37T, +49,1% YoY
• ▍Operating income +2,1% YoY
• ▍Net income −15,9% YoY
• ▍Free cash flow +114,5% YoY
• ▍Net margin 2.7%