Reported Earnings • May 01
Third quarter 2026 earnings released: EPS: PK₨52.59 (vs PK₨6.74 in 3Q 2025) Third quarter 2026 results: EPS: PK₨52.59 (up from PK₨6.74 in 3Q 2025). Revenue: PK₨791.5b (up 6.0% from 3Q 2025). Net income: PK₨24.7b (up PK₨21.5b from 3Q 2025). Profit margin: 3.1% (up from 0.4% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Oil and Gas industry in Pakistan. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 22
Pakistan State Oil Company Limited to Report Q3, 2026 Results on Apr 29, 2026 Pakistan State Oil Company Limited announced that they will report Q3, 2026 results on Apr 29, 2026 Reported Earnings • Feb 28
Second quarter 2026 earnings released: EPS: PK₨8.91 (vs PK₨13.42 in 2Q 2025) Second quarter 2026 results: EPS: PK₨8.91 (down from PK₨13.42 in 2Q 2025). Revenue: PK₨798.0b (down 11% from 2Q 2025). Net income: PK₨4.18b (down 34% from 2Q 2025). Profit margin: 0.5% (down from 0.7% in 2Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Oil and Gas industry in Pakistan. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 48% per year, which means it is well ahead of earnings. Announcement • Feb 10
Pakistan State Oil Company Limited to Report First Half, 2026 Results on Feb 17, 2026 Pakistan State Oil Company Limited announced that they will report first half, 2026 results on Feb 17, 2026 Announcement • Jan 09
Pakistan State Oil Company Limited Announces Board Changes Pakistan State Oil Company Limited announced that by virtue of Notification No. 5(18)/2008-CA-I dated January 8, 2026, issued by Ministry of Energy (Petroleum Division), Mr. Shahbaz Tahir Nadeem has ceased to be the ex- officio member of the BOM and Mr. Mirza Nasiruddin Mashhood Ahmad has been appointed as the new ex-officio member in his place. Upcoming Dividend • Oct 08
Upcoming dividend of PK₨10.00 per share Eligible shareholders must have bought the stock before 15 October 2025. Payment date: 14 November 2025. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Pakistani dividend payers (7.3%). Lower than average of industry peers (4.4%). Reported Earnings • Oct 06
Full year 2025 earnings released: EPS: PK₨35.03 (vs PK₨39.04 in FY 2024) Full year 2025 results: EPS: PK₨35.03 (down from PK₨39.04 in FY 2024). Revenue: PK₨3.32t (down 11% from FY 2024). Net income: PK₨16.4b (down 10% from FY 2024). Profit margin: 0.5% (in line with FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 116 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 23
Full year 2025 earnings released Full year 2025 results: Revenue: PK₨3.32t (down 11% from FY 2024). Net income: PK₨16.4b (down 10% from FY 2024). Profit margin: 0.5% (in line with FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 115 percentage points per year, which is a significant difference in performance. Declared Dividend • Aug 21
Dividend of PK₨10.00 announced Dividend of PK₨10.00 is the same as last year. Ex-date: 15th October 2025 Payment date: 14th November 2025 Dividend yield will be 2.5%, which is lower than the industry average of 6.3%. Sustainability & Growth Dividend is well covered by both earnings (34% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has increased by an average of 9.0% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 105% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 20
Pakistan State Oil Company Limited, Annual General Meeting, Oct 24, 2025 Pakistan State Oil Company Limited, Annual General Meeting, Oct 24, 2025. Location: karachi Pakistan Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to PK₨386, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Oil and Gas industry in Pakistan. Total returns to shareholders of 185% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at PK₨604 per share. New Risk • May 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Pakistani stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Minor Risk Share price has been volatile over the past 3 months (7.6% average weekly change). Reported Earnings • Apr 30
Third quarter 2025 earnings released: EPS: PK₨6.74 (vs PK₨9.45 in 3Q 2024) Third quarter 2025 results: EPS: PK₨6.74 (down from PK₨9.45 in 3Q 2024). Revenue: PK₨746.8b (down 14% from 3Q 2024). Net income: PK₨3.16b (down 29% from 3Q 2024). Profit margin: 0.4% (down from 0.5% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. New Risk • Apr 28
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.9% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.2x net interest cover). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Price Target Changed • Apr 03
Price target increased by 9.5% to PK₨545 Up from PK₨498, the current price target is an average from 6 analysts. New target price is 29% above last closing price of PK₨424. Stock is up 148% over the past year. The company is forecast to post earnings per share of PK₨53.83 for next year compared to PK₨39.04 last year. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to PK₨383, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 6x in the Oil and Gas industry in Pakistan. Total returns to shareholders of 175% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at PK₨157 per share. Price Target Changed • Mar 12
Price target increased by 9.8% to PK₨498 Up from PK₨453, the current price target is an average from 7 analysts. New target price is 30% above last closing price of PK₨383. Stock is up 139% over the past year. The company is forecast to post earnings per share of PK₨52.52 for next year compared to PK₨39.04 last year. New Risk • Mar 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Pakistani stocks, typically moving 7.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.2x net interest cover). Minor Risk Share price has been volatile over the past 3 months (7.7% average weekly change). Reported Earnings • Feb 16
Second quarter 2025 earnings released: EPS: PK₨13.42 (vs PK₨25.09 loss in 2Q 2024) Second quarter 2025 results: EPS: PK₨13.42 (up from PK₨25.09 loss in 2Q 2024). Revenue: PK₨891.6b (down 7.4% from 2Q 2024). Net income: PK₨6.30b (up PK₨18.1b from 2Q 2024). Profit margin: 0.7% (up from net loss in 2Q 2024). The move to profitability was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 6.1% growth forecast for the Oil and Gas industry in Pakistan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Price Target Changed • Jan 29
Price target increased by 7.1% to PK₨453 Up from PK₨424, the current price target is an average from 8 analysts. New target price is 27% above last closing price of PK₨356. Stock is up 118% over the past year. The company is forecast to post earnings per share of PK₨59.06 for next year compared to PK₨39.04 last year. Price Target Changed • Dec 28
Price target increased by 16% to PK₨316 Up from PK₨271, the current price target is an average from 9 analysts. New target price is 26% below last closing price of PK₨428. Stock is up 142% over the past year. The company is forecast to post earnings per share of PK₨58.77 for next year compared to PK₨39.04 last year. Price Target Changed • Nov 26
Price target increased by 7.3% to PK₨289 Up from PK₨269, the current price target is an average from 8 analysts. New target price is 10% above last closing price of PK₨262. Stock is up 50% over the past year. The company is forecast to post earnings per share of PK₨56.95 for next year compared to PK₨39.04 last year. Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to PK₨234, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 5x in the Oil and Gas industry in Pakistan. Total returns to shareholders of 42% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at PK₨161 per share. Buy Or Sell Opportunity • Oct 10
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to PK₨197. The fair value is estimated to be PK₨161, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has declined by 33%. Revenue is forecast to decline by 0.8% in 2 years. Earnings are forecast to grow by 76% in the next 2 years. Valuation Update With 7 Day Price Move • Oct 09
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to PK₨190, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 4x in the Oil and Gas industry in Pakistan. Total returns to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at PK₨161 per share. Upcoming Dividend • Oct 08
Upcoming dividend of PK₨10.00 per share Eligible shareholders must have bought the stock before 15 October 2024. Payment date: 14 November 2024. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 5.4%. Lower than top quartile of Pakistani dividend payers (11%). Lower than average of industry peers (6.6%). Reported Earnings • Oct 06
Full year 2024 earnings released: EPS: PK₨39.04 (vs PK₨19.85 in FY 2023) Full year 2024 results: EPS: PK₨39.04 (up from PK₨19.85 in FY 2023). Revenue: PK₨3.74t (up 5.7% from FY 2023). Net income: PK₨18.3b (up 97% from FY 2023). Profit margin: 0.5% (up from 0.3% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 2 years compared to a 7.1% growth forecast for the Oil and Gas industry in Pakistan. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Declared Dividend • Aug 29
Dividend of PK₨10.00 announced Shareholders will receive a dividend of PK₨10.00. Ex-date: 15th October 2024 Payment date: 14th November 2024 Dividend yield will be 6.2%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (25% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 68% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 28
Full year 2024 earnings released: EPS: PK₨39.04 (vs PK₨19.85 in FY 2023) Full year 2024 results: EPS: PK₨39.04 (up from PK₨19.85 in FY 2023). Revenue: PK₨3.74t (up 5.7% from FY 2023). Net income: PK₨18.3b (up 97% from FY 2023). Profit margin: 0.5% (up from 0.3% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 2 years compared to a 4.0% growth forecast for the Oil and Gas industry in Pakistan. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Price Target Changed • Aug 23
Price target increased by 7.2% to PK₨273 Up from PK₨254, the current price target is an average from 7 analysts. New target price is 71% above last closing price of PK₨160. Stock is up 30% over the past year. The company is forecast to post earnings per share of PK₨32.47 for next year compared to PK₨19.85 last year. Announcement • Aug 22
Pakistan State Oil Company Limited to Report Q4, 2024 Results on Aug 27, 2024 Pakistan State Oil Company Limited announced that they will report Q4, 2024 results on Aug 27, 2024 Announcement • Aug 20
Pakistan State Oil Company Limited Announces Company Secretary Changes Pakistan State Oil Company Limited has announced a change in its executive team, with Ms. Ambreen Ali appointed as the Acting Company Secretary effective 19 August 2024. This management shift follows the retirement of Mr. Rashid Umer Siddiqui, who served as the Company Secretary until he reached the age of superannuation. Ms. Ali's appointment marks a continuation of leadership as the company moves forward. Ms. Ali brings a wealth of experience to her new role, and her appointment is expected to maintain the company's strategic direction and strengthen its corporate affairs. Price Target Changed • Jul 27
Price target increased by 8.0% to PK₨275 Up from PK₨254, the current price target is an average from 8 analysts. New target price is 70% above last closing price of PK₨162. Stock is up 24% over the past year. The company is forecast to post earnings per share of PK₨45.30 for next year compared to PK₨19.85 last year. Buy Or Sell Opportunity • Jul 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to PK₨161. The fair value is estimated to be PK₨204, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 39% over the last 3 years. Earnings per share has declined by 14%. Revenue is forecast to grow by 8.6% in a year. Earnings are forecast to grow by 73% in the next year. Price Target Changed • Jun 13
Price target increased by 7.7% to PK₨274 Up from PK₨254, the current price target is an average from 7 analysts. New target price is 60% above last closing price of PK₨172. Stock is up 54% over the past year. The company is forecast to post earnings per share of PK₨44.70 for next year compared to PK₨19.85 last year. Buy Or Sell Opportunity • Jun 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.8% to PK₨163. The fair value is estimated to be PK₨204, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 39% over the last 3 years. Earnings per share has declined by 14%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to grow by 169% in the next 2 years. Reported Earnings • Apr 30
Third quarter 2024 earnings released: EPS: PK₨9.45 (vs PK₨27.57 in 3Q 2023) Third quarter 2024 results: EPS: PK₨9.45 (down from PK₨27.57 in 3Q 2023). Revenue: PK₨873.6b (up 5.6% from 3Q 2023). Net income: PK₨4.44b (down 66% from 3Q 2023). Profit margin: 0.5% (down from 1.6% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Oil and Gas industry in Pakistan. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 26
Second quarter 2024 earnings released: PK₨25.09 loss per share (vs PK₨6.24 loss in 2Q 2023) Second quarter 2024 results: PK₨25.09 loss per share (further deteriorated from PK₨6.24 loss in 2Q 2023). Revenue: PK₨962.4b (up 10.0% from 2Q 2023). Net loss: PK₨11.8b (loss widened 302% from 2Q 2023). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Oil and Gas industry in Pakistan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to PK₨163, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 3x in the Oil and Gas industry in Pakistan. Total loss to shareholders of 16% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at PK₨269 per share. Price Target Changed • Feb 16
Price target increased by 7.1% to PK₨254 Up from PK₨238, the current price target is an average from 9 analysts. New target price is 72% above last closing price of PK₨148. Stock is up 16% over the past year. The company is forecast to post earnings per share of PK₨51.48 for next year compared to PK₨19.85 last year. Announcement • Feb 02
Pakistan State Oil Company Limited Announces Executive Changes Pakistan State Oil Company Limited announced that Mr. Arshad Majeed has ceased to be a member of the Board of Management of the company from January 29, 2024. In his place, Mr. Asad Rehman Gilani has been appointed as a new member of the Board of Management,effective from January 29, 2024. Price Target Changed • Dec 14
Price target increased by 13% to PK₨197 Up from PK₨175, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of PK₨205. Stock is up 46% over the past year. The company is forecast to post earnings per share of PK₨59.16 for next year compared to PK₨19.85 last year. Buying Opportunity • Dec 11
Now 22% undervalued Over the last 90 days, the stock is up 76%. The fair value is estimated to be PK₨264, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 47% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 9.7% in 2 years. Earnings is forecast to grow by 24% in the next 2 years. Announcement • Dec 09
United Energy Group Limited (SEHK:467) agreed to acquire 30% stake in Pakistan Refinery Limited (KASE:PRL) from Pakistan State Oil Company Limited (KASE:PSO). United Energy Group Limited (SEHK:467) agreed to acquire 30% stake in Pakistan Refinery Limited (KASE:PRL) from Pakistan State Oil Company Limited (KASE:PSO) on October 18, 2023. Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to PK₨204, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 3x in the Oil and Gas industry in Pakistan. Total returns to shareholders of 25% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at PK₨264 per share. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to PK₨167, the stock trades at a forward P/E ratio of 2x. Average forward P/E is 3x in the Oil and Gas industry in Pakistan. Total returns to shareholders of 6.0% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at PK₨264 per share. Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to PK₨143, the stock trades at a forward P/E ratio of 2x. Average forward P/E is 3x in the Oil and Gas industry in Pakistan. Total loss to shareholders of 15% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at PK₨264 per share. Upcoming Dividend • Oct 10
Upcoming dividend of PK₨7.50 per share at 6.0% yield Eligible shareholders must have bought the stock before 17 October 2023. Payment date: 17 November 2023. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 6.0%. Lower than top quartile of Pakistani dividend payers (13%). Lower than average of industry peers (8.7%). Reported Earnings • Oct 05
Full year 2023 earnings released: EPS: PK₨19.85 (vs PK₨194 in FY 2022) Full year 2023 results: EPS: PK₨19.85 (down from PK₨194 in FY 2022). Revenue: PK₨3.54t (up 39% from FY 2022). Net income: PK₨9.32b (down 90% from FY 2022). Profit margin: 0.3% (down from 3.6% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 5.1% p.a. on average during the next 2 years compared to a 3.0% decline forecast for the Oil and Gas industry in Pakistan. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 28
Full year 2023 earnings released: EPS: PK₨19.85 (vs PK₨194 in FY 2022) Full year 2023 results: EPS: PK₨19.85 (down from PK₨194 in FY 2022). Revenue: PK₨3.54t (up 39% from FY 2022). Net income: PK₨9.32b (down 90% from FY 2022). Profit margin: 0.3% (down from 3.6% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 6.2% p.a. on average during the next 2 years compared to a 2.2% decline forecast for the Oil and Gas industry in Pakistan. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Price Target Changed • Jul 20
Price target decreased by 7.2% to PK₨181 Down from PK₨196, the current price target is an average from 6 analysts. New target price is 51% above last closing price of PK₨120. Stock is down 29% over the past year. The company is forecast to post earnings per share of PK₨30.90 for next year compared to PK₨194 last year. Price Target Changed • Feb 16
Price target decreased by 8.5% to PK₨205 Down from PK₨224, the current price target is an average from 10 analysts. New target price is 55% above last closing price of PK₨132. Stock is down 27% over the past year. The company posted earnings per share of PK₨194 last year. Announcement • Feb 08
Pakistan State Oil Company Limited Announces Board Changes Pakistan State Oil Company Limited informed Pakistan Stock Exchange that Mr. Muhammad Hassan Iqbal has been appointed as Member of the Board of Management of the company with effect from February 06, 2023 in place of Mr. Hassan Mehmood Yousufzai. Price Target Changed • Jan 21
Price target decreased to PK₨223 Down from PK₨241, the current price target is an average from 9 analysts. New target price is 77% above last closing price of PK₨126. Stock is down 31% over the past year. The company posted earnings per share of PK₨194 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Chairman of Board of Management Zafar Ul Usmani was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 02
Pakistan State Oil Company Limited Announces Board Changes Pakistan State Oil Company Limited informed that Capt. (Retd.) Muhammad Anwar-ul-Haq has been appointed as Member of the board of management with effect from October 28, 2022 in place of Ms. Saira Najeeb. Reported Earnings • Oct 31
First quarter 2023 earnings released: EPS: PK₨3.72 (vs PK₨24.93 in 1Q 2022) First quarter 2023 results: EPS: PK₨3.72 (down from PK₨24.93 in 1Q 2022). Revenue: PK₨900.7b (up 92% from 1Q 2022). Net income: PK₨1.74b (down 85% from 1Q 2022). Profit margin: 0.2% (down from 2.5% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Oct 10
Upcoming dividend of PK₨10.00 per share Eligible shareholders must have bought the stock before 17 October 2022. Payment date: 16 November 2022. Trailing yield: 6.0%. Lower than top quartile of Pakistani dividend payers (12%). Lower than average of industry peers (8.9%). Price Target Changed • Apr 27
Price target decreased to PK₨279 Down from PK₨313, the current price target is provided by 1 analyst. New target price is 66% above last closing price of PK₨168. Stock is down 22% over the past year. The company is forecast to post earnings per share of PK₨56.90 for next year compared to PK₨62.63 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Chairman of Board of Management Zafar Ul Usmani was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Mar 22
Price target decreased to PK₨289 Down from PK₨313, the current price target is provided by 1 analyst. New target price is 84% above last closing price of PK₨157. Stock is down 35% over the past year. The company is forecast to post earnings per share of PK₨56.90 for next year compared to PK₨62.63 last year. Reported Earnings • Mar 05
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: EPS: PK₨43.27 (up from PK₨8.86 in 2Q 2021). Revenue: PK₨529.2b (up 79% from 2Q 2021). Net income: PK₨20.3b (up 389% from 2Q 2021). Profit margin: 3.8% (up from 1.4% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Oct 06
Upcoming dividend of PK₨10.00 per share Eligible shareholders must have bought the stock before 13 October 2021. Payment date: 16 November 2021. Trailing yield: 10%. Lower than top quartile of Pakistani dividend payers (10%). Higher than average of industry peers (8.4%). Reported Earnings • Oct 05
Full year 2021 earnings released: EPS PK₨62.63 (vs PK₨23.47 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: PK₨1.22t (up 9.1% from FY 2020). Net income: PK₨29.4b (up PK₨40.4b from FY 2020). Profit margin: 2.4% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Aug 26
Full year 2021 earnings released: EPS PK₨62.63 (vs PK₨23.47 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: PK₨1.22t (up 9.1% from FY 2020). Net income: PK₨29.4b (up PK₨40.4b from FY 2020). Profit margin: 2.4% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Price Target Changed • Jul 15
Price target increased to PK₨293 Up from PK₨272, the current price target is provided by 1 analyst. New target price is 28% above last closing price of PK₨229. Stock is up 35% over the past year. Executive Departure • Jun 25
Non-Executive Member of Board of Management Nadeem Kayani has left the company On the 17th of June, Nadeem Kayani's tenure as Non-Executive Member of Board of Management ended after less than a year in the role. We don't have any record of a personal shareholding under Nadeem's name. A total of 5 executives have left over the last 12 months. The current median tenure of the management team is 1.33 years, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • May 02
Third quarter 2021 earnings released: EPS PK₨18.99 (vs PK₨13.55 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: PK₨280.0b (up 15% from 3Q 2020). Net income: PK₨8.91b (up PK₨15.3b from 3Q 2020). Profit margin: 3.2% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Price Target Changed • Feb 23
Price target raised to PK₨272 Up from PK₨254, the current price target is an average from 4 analysts. The new target price is 14% above the current share price of PK₨240. As of last close, the stock is up 37% over the past year. Reported Earnings • Feb 20
Second quarter 2021 earnings released: EPS PK₨8.86 (vs PK₨3.91 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: PK₨295.9b (down 7.0% from 2Q 2020). Net income: PK₨4.16b (up 127% from 2Q 2020). Profit margin: 1.4% (up from 0.6% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 69% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Executive Departure • Feb 04
Independent Member of Board of Management has left the company On the 28th of January, Mohammad Khan's tenure as Independent Member of Board of Management ended after 1.9 years in the role. As of September 2020, Mohammad personally held only 1.24k shares (PK₨248k worth at the time). A total of 5 executives have left over the last 12 months. Is New 90 Day High Low • Feb 02
New 90-day high: PK₨254 The company is up 28% from its price of PK₨198 on 04 November 2020. The Pakistani market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is PK₨48.18 per share. Is New 90 Day High Low • Jan 06
New 90-day high: PK₨249 The company is up 20% from its price of PK₨208 on 08 October 2020. The Pakistani market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is PK₨51.79 per share. Price Target Changed • Dec 18
Price target raised to PK₨241 Up from PK₨224, the current price target is an average from 4 analysts. The new target price is 13% above the current share price of PK₨213. As of last close, the stock is up 15% over the past year. Is New 90 Day High Low • Dec 18
New 90-day high: PK₨213 The company is up 3.0% from its price of PK₨207 on 18 September 2020. The Pakistani market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is PK₨51.84 per share. Reported Earnings • Nov 04
First quarter 2021 earnings released: EPS PK₨11.07 The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: PK₨285.1b (down 16% from 1Q 2020). Net income: PK₨5.20b (up 49% from 1Q 2020). Profit margin: 1.8% (up from 1.0% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Oct 28
First quarter earnings released Over the last 12 months the company has reported total losses of PK₨9.32b, with earnings decreasing by PK₨23.0b from the prior year. Total revenue was PK₨1.07t over the last 12 months, down 14% from the prior year. Is New 90 Day High Low • Oct 26
New 90-day high: PK₨213 The company is up 22% from its price of PK₨175 on 28 July 2020. The Pakistani market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is PK₨1,655 per share. Is New 90 Day High Low • Oct 08
New 90-day high: PK₨208 The company is up 26% from its price of PK₨165 on 10 July 2020. The Pakistani market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is PK₨1,665 per share. Announcement • Oct 01
Pakistan State Oil Company Limited Announces Management Changes Pakistan State Oil Company Limited announced that Mr. Ali Raza Bhutta has been appointed as Member, Board of Management with effect from September 29, 2020 in place of Mr. Omer Rasul. Is New 90 Day High Low • Sep 18
New 90-day high: PK₨207 The company is up 44% from its price of PK₨144 on 19 June 2020. The Pakistani market is up 24% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is PK₨1,644 per share.