Thai Oil Public Company stock | Expectations for 2026, valuation & analysis

Thai Oil Public Comp...

SET:TOP

฿ 50,25

+ ฿1,75 (3,61%)

50,25 ฿

+฿1,75 (3,61%)

End-of-day quote: 03/31/2026

Thai Oil Public Company Stock Value

The current analyst rating for SET:TOP is Outperform.

Outperform

Thai Oil Public Company Company Info

EPS Growth 5Y

26,80%

Market Cap

฿108,34 B

Long-Term Debt

฿111,98 B

Quarterly earnings

05/09/2026 (E)

Dividend

฿1,80

Dividend Yield

3,58%

Founded

1961

Industry

Energy

Country

Thailand

Website

Thai Oil Public Company

ISIN Number

TH0796010005

Website

http://www.thaioilgroup.com

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

฿56,00

11.44%

Last Update: 03/31/2026

Analysts: 19

Highest Price Target ฿73,00

Average Price Target ฿56,00

Lowest Price Target ฿30,00

In the last five quarters, Thai Oil Public Company’s Price Target has fallen from ฿68,47 to ฿54,09 - a -21,00% decrease. Fourteen analysts predict that Thai Oil Public Company’s share price will increase in the coming year, reaching ฿56,00. This would represent an increase of 11,44%.

Top growth stocks in the energy sector (5Y.)

What does Thai Oil Public Company do?

Thai Oil Public Company Limited, together with its subsidiaries, engages in the oil refining, petrochemicals, lube base oil, and other businesses in Thailand and internationally. Business Segments The company operates through several segments include Oil Refinery, Lube Base Oil Refinery, Aromatics and LAB, Power Generation, Solvent, Ethanol, Olefins, and Others. Oil Refinery This segment forms the backbone of the company's operations, focusing on the refining of crude oil into various petrol...

Thai Oil Public Company Limited, together with its subsidiaries, engages in the oil refining, petrochemicals, lube base oil, and other businesses in Thailand and internationally.

Business Segments

The company operates through several segments include Oil Refinery, Lube Base Oil Refinery, Aromatics and LAB, Power Generation, Solvent, Ethanol, Olefins, and Others.

Oil Refinery

This segment forms the backbone of the company's operations, focusing on the refining of crude oil into various petroleum products. The refinery utilizes advanced technology to optimize production processes and enhance the quality of outputs.

Lube Base Oil Refinery

The Lube Base Oil Refinery segment, the company specializes in the production of lube base oils, essential for automotive and industrial applications. The emphasis on quality leads to the delivery of high-performance lubricants that cater to diverse customer needs.

Aromatics and LAB

The Aromatics segment focuses on the production of benzene, toluene, and xylene, while the Linear Alkyl Benzene (LAB) segment specializes in laboratory-grade products essential for detergents and surfactants. These products are vital in various industrial applications.

Power Generation

The Power Generation segment has a dedicated power generation segment, producing electricity and steam to support not only its operational needs but also to supply energy to the grid, contributing to national energy stability.

Solvent

The solvent segment involves the manufacturing and distribution of a variety of chemical solvents that serve multiple industries, including paint, varnish, and coatings, fulfilling essential chemical needs.

Ethanol

With a growing focus on renewable energy, the ethanol segment emphasizes the production of biofuels, aligning with global sustainability goals. The company actively engages in alternative energy production to contribute to a greener environment.

Olefins

This segment includes the production of key petrochemicals that serve as building blocks for various consumer products, highlighting the company’s robust role in the petrochemical supply chain.

Others

This miscellaneous segment covers any additional services or products the company offers, further solidifying its diverse operational capabilities.

Business Strategy

The company's business strategy is built upon a commitment to growth through innovation, operational excellence, and sustainability. By investing in state-of-the-art technologies, the company enhances its refinery's efficiency and product yield while minimizing its environmental footprint. It emphasizes a proactive approach to market demands, aligning product offerings with emerging consumer preferences for cleaner and sustainable energy sources. Furthermore, the company's strategic partnerships and collaborations with key stakeholders in the industry enhance its competitive positioning. The company seeks to optimize its operational processes while adhering to rigorous safety and environmental standards, thereby reinforcing its reputation within the industry.

Products and Services

The company offers a diverse portfolio of petroleum products that includes essential fuels such as gasoline, diesel, kerosene, and jet fuel, effectively addressing national energy demands. Additionally, the company provides high-quality lubricants, including lube base oils and finished lubricants, designed for optimal performance in vehicles and machinery. Furthermore, it supplies aromatics and linear alkylbenzene (LAB) products, which serve as key chemical precursors across various industries, from cleaning to automotive applications.

The company delivers power and steam services that ensure reliable energy solutions for both internal operations and external markets, fostering a synergy between energy production and consumption. The portfolio also features a range of chemical solvents tailored to meet industrial needs, enhancing the chemical manufacturing landscape. Lastly, the commitment to sustainability is evident in the production of biofuels, particularly ethanol, aligning with global renewable energy trends.

Geographical Markets Served, Recent Acquisitions

The company primarily operates in Thailand, maintaining a strong foothold in the regional energy market. Through its subsidiaries, it extends its reach into other Southeast Asian markets, ensuring broader distribution of its products and services.

Seasonality

The company’s operations are somewhat subject to seasonal trends, particularly in the petroleum and energy markets. Demand for certain products like fuels tends to peak during notable holidays and seasons, impacting production schedules and inventory management. Additionally, the company adheres to responsive production strategies to align with seasonal volatility, ensuring efficient distribution and availability of products year-round.

Customers

The company serves a diverse customer base comprising automotive industries, industrial manufacturers, governmental bodies, and individual consumers. With a focus on building lasting relationships, the company aims to cater to the unique needs of these customers through tailored products and services, ensuring satisfaction and loyalty in a competitive landscape.

Sales and Marketing Channels

The company's marketing strategy emphasizes a multi-channel approach, embracing both traditional and digital platforms. Direct sales teams engage with key clients, while marketing campaigns target broader consumer segments. Distribution channels are strategically selected to maximize reach and efficiency, encompassing both local and international markets.

History

Thai Oil Public Company Limited was founded in 1961.

Thai Oil Public Company Questions and Answers

Which sectors generate sales and which are the top 3 markets?

**Revenue distribution by sectors:** - Refinery: approx. 70% - Petrochemicals: approx. 20% - Power generation and others: approx. 10% **Top 3 markets and their percentage shares:** - Thailand: approx. 60% - China: approx. 20% - Other Asian countries: approx. 15% Thai Oil Public Company Limited gen...

At which locations are the company’s products manufactured?

**Main Production Site:** Sriracha, Thailand Thai Oil Public Company Limited operates its main refinery in Sriracha, Thailand. This facility is one of the largest refineries in Thailand and plays a central role in the company's production of petroleum products. The strategic location near the...

What strategy does Thai Oil Public Company pursue for future growth?

**Strategic Growth Goals:** 1. **Diversification of the product range** 2. **Investments in renewable energies** 3. **Expansion of refinery capacities** Thai Oil Public Company Limited is pursuing a strategy of diversification and sustainability to secure future growth. The company plans to expand...

Which raw materials are imported and from which countries?

**Main raw material:** Crude oil **Main supplier countries:** Middle East, Africa, Asia Thai Oil Public Company Limited mainly imports crude oil as the primary raw material for its refinery processes. The most significant supplier countries are the oil-rich regions of the Middle East, such as Sau...

How strong is the company’s competitive advantage?

**Market share in Thailand:** 30% (estimated for 2026) **Refinery capacity:** 275,000 barrels per day (2023) **Return on equity (ROE):** 8.5% (2023) Thai Oil Public Company Limited has a significant competitive advantage in Thailand, holding an estimated market share of 30%. This is supported b...

What is the share of institutional investors and insider buying/selling?

**Institutional Investor Share:** approximately 65% (estimated for 2026) **Insider Buys/Sells:** No significant transactions in the last year (2025) The institutional investor share in Thai Oil Public Company Limited is estimated to be around 65%. This demonstrates the confidence of large institu...

What percentage market share does Thai Oil Public Company have?

**Market Share of Thai Oil Public Company Limited (TOP):** Estimated 15% (2026) **Main Competitors and Their Market Shares:** 1. **PTT Global Chemical Public Company Limited (PTTGC):** 20% 2. **Bangchak Corporation Public Company Limited (BCP):** 18% 3. **IRPC Public Company Limited:** 17% 4. **Ess...

Is Thai Oil Public Company stock currently a good investment?

**Revenue Growth:** 8.5% (2025) **Profit Growth:** 5.2% (2025) **Return on Equity:** 12.4% (2025) Thai Oil Public Company Limited recorded solid revenue growth of 8.5% in 2025, attributed to strong demand for refinery products and efficient operations management. The 5.2% profit growth indicates th...

Does Thai Oil Public Company pay a dividend – and how reliable is the payout?

**Dividend Yield:** 4.5% (2026, estimated) **Dividend History:** Continuous payout over the last 5 years Thai Oil Public Company Limited has regularly paid dividends to its shareholders in recent years. The dividend yield is currently estimated at 4.5% for the year 2026. This indicates an attract...

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Thai Oil Public Company Stock Value

Thai Oil Public Company Company Info

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the energy sector (5Y.)

What does Thai Oil Public Company do?

Thai Oil Public Company Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

New support ticket

Explore

Thai Oil Public Company Stock Value

Thai Oil Public Company Company Info

Analyst Price Target The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the energy sector (5Y.)

What does Thai Oil Public Company do?

Thai Oil Public Company Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.