Thai (SET) Oil and Gas Refining and Marketing Industry Analysis

Industry Valuation and Performance

Has the Thai Oil and Gas Refining and Marketing Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Thu, 25 Jun 2026	฿226.5b	฿1.5t	฿52.8b	12.1x	4.3x	0.2x
Sat, 23 May 2026	฿246.0b	฿1.5t	฿52.6b	11.4x	4.7x	0.2x
Mon, 20 Apr 2026	฿232.2b	฿1.4t	฿16.8b	18.2x	13.8x	0.2x
Wed, 18 Mar 2026	฿236.4b	฿1.4t	฿16.8b	19.4x	14.1x	0.2x
Fri, 13 Feb 2026	฿238.9b	฿1.5t	฿13.8b	10.7x	17.4x	0.2x
Sun, 11 Jan 2026	฿194.3b	฿1.5t	฿13.8b	10.6x	14.1x	0.1x
Tue, 09 Dec 2025	฿173.7b	฿1.5t	฿13.8b	10.5x	12.6x	0.1x
Thu, 06 Nov 2025	฿188.8b	฿1.8t	-฿4,128,344,602.00	9.6x	-45.7x	0.1x
Sat, 04 Oct 2025	฿196.1b	฿1.8t	-฿9,438,075,602.00	10x	-20.8x	0.1x
Mon, 01 Sep 2025	฿185.9b	฿1.8t	-฿9,438,075,602.00	9.5x	-19.7x	0.1x
Wed, 30 Jul 2025	฿199.9b	฿1.9t	-฿822,675,741.00	10.3x	-243x	0.1x
Fri, 27 Jun 2025	฿170.3b	฿1.9t	-฿822,675,741.00	9.1x	-207x	0.09x
Sun, 25 May 2025	฿187.8b	฿1.9t	-฿822,675,741.00	9.5x	-228.3x	0.1x
Tue, 22 Apr 2025	฿172.8b	฿1.9t	฿8.4b	8.4x	20.5x	0.09x
Thu, 20 Mar 2025	฿189.1b	฿1.9t	฿8.4b	9.6x	22.4x	0.1x
Sat, 15 Feb 2025	฿182.4b	฿1.9t	฿4.1b	9.3x	44.7x	0.1x
Mon, 13 Jan 2025	฿190.9b	฿1.9t	฿1.8b	10.9x	106.6x	0.1x
Wed, 11 Dec 2024	฿232.2b	฿1.9t	฿1.8b	12.4x	129.7x	0.1x
Fri, 08 Nov 2024	฿242.5b	฿1.9t	฿48.8b	12.2x	5x	0.1x
Sun, 06 Oct 2024	฿281.9b	฿1.9t	฿48.8b	13x	5.8x	0.2x
Tue, 03 Sep 2024	฿276.3b	฿1.9t	฿46.3b	13.3x	6x	0.1x
Thu, 01 Aug 2024	฿265.2b	฿1.7t	฿38.1b	18x	7x	0.2x
Sat, 29 Jun 2024	฿292.3b	฿1.7t	฿38.1b	19.2x	7.7x	0.2x
Mon, 27 May 2024	฿290.5b	฿1.7t	฿38.1b	22.6x	7.6x	0.2x
Wed, 24 Apr 2024	฿318.4b	฿1.7t	฿31.5b	23.8x	10.1x	0.2x
Fri, 22 Mar 2024	฿330.8b	฿1.7t	฿31.5b	24.8x	10.5x	0.2x
Sun, 18 Feb 2024	฿324.4b	฿1.6t	฿38.2b	11.8x	8.5x	0.2x
Tue, 16 Jan 2024	฿296.6b	฿1.6t	฿31.7b	11.6x	9.4x	0.2x
Thu, 14 Dec 2023	฿292.8b	฿1.6t	฿31.7b	10.8x	9.2x	0.2x
Sat, 11 Nov 2023	฿287.5b	฿1.6t	฿31.9b	9.8x	9x	0.2x
Mon, 09 Oct 2023	฿288.6b	฿1.6t	-฿9,905,345,903.00	13.9x	-29.1x	0.2x
Wed, 06 Sep 2023	฿304.2b	฿1.6t	-฿9,905,345,903.00	14.7x	-30.7x	0.2x
Fri, 04 Aug 2023	฿311.2b	฿1.8t	฿43.4b	9.2x	7.2x	0.2x
Sun, 02 Jul 2023	฿282.8b	฿1.8t	฿43.4b	8.8x	6.5x	0.2x

Current Industry PE

Investors are pessimistic on the Thai Oil and Gas Refining and Marketing industry, indicating that they anticipate long term growth rates will be lower than they have historically.

The industry is trading at a PE ratio of 4.3x which is higher than its 3-year average PE of -5.1x.

The industry is trading close to its 3-year average PS ratio of 0.15x.

Past Earnings Growth

The earnings for companies in the Oil and Gas Refining and Marketing industry have grown 6.7% per year over the last three years.
Meanwhile revenues for these companies have declined 6.1% per year.
This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Comparison

How does Thai Oil and Gas Refining and Marketing compare with similar industries?


TH Market	-2.44%
Energy	-1.22%
Oil and Gas	-1.23%
Oil and Gas Refining and Marketing	-0.96%
Oil and Gas Storage and Transportation	-0.29%
Integrated Oil and Gas	-0.71%
Oil and Gas Exploration and Production	-2.24%
Coal and Fuels	-2.51%

Industry PEThere are no additional sub-industries under this industry.

Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
TOP Thai Oil	฿44.75	0.6% +฿558.5m	62.7%	PE3.3x
SPRC Star Petroleum Refining	฿7.10	1.4% +฿433.6m	42.0%	PE3.3x
UBE Ubon Bio Ethanol	฿0.56	3.7% +฿78.3m	7.7%	PS0.4x
SUSCO Susco	฿2.10	1.0% +฿19.0m	-18.0%	PE16.4x

New major risk - Revenue and earnings growth

Earnings have declined by 4.8% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 4.8% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (105% payout ratio). Profit margins are more than 30% lower than last year (0.4% net profit margin). Market cap is less than US$100m (฿1.96b market cap, or US$60.0m).

Thai (SET) Oil and Gas Refining and Marketing Industry Analysis

Industry Valuation and Performance

Industry Comparison

Top Stock Gainers and Losers

Latest News

New major risk - Dividend sustainability

Bangchak Corporation Public Company Limited Announces Appointment of Bundit Hansapaiboon as President, Refinery and Marketing Business Group, Effective July 1, 2026

Investor sentiment improves as stock rises 18%

First quarter 2026 earnings released: EPS: ฿0.038 (vs ฿0.008 in 1Q 2025)

First quarter 2026 earnings released: EPS: ฿1.70 (vs ฿0.17 in 1Q 2025)

New major risk - Revenue and earnings growth

First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind

First quarter 2026 earnings released: EPS: ฿0.18 (vs ฿0.09 in 1Q 2025)

RPCG Public Company Limited Appoints Patana Sukontarug and Kanokporn Jarukulvanich as Director

New minor risk - Share price stability