PTT Public Company Limited

SET:PTT Stock Report

Market Cap: ฿899.7b

PTT Valuation

Is PTT undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of PTT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PTT (THB31.25) is trading below our estimate of fair value (THB84.06)

Significantly Below Fair Value: PTT is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PTT?

Key metric: As PTT is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for PTT. This is calculated by dividing PTT's market cap by their current earnings.
What is PTT's PE Ratio?
PE Ratio7.9x
Earnings฿113.53b
Market Cap฿899.73b

Price to Earnings Ratio vs Peers

How does PTT's PE Ratio compare to its peers?

The above table shows the PE ratio for PTT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average8.4x
PTTEP PTT Exploration and Production
6.3x-9.3%฿474.4b
CVE Cenovus Energy
10.4x4.8%CA$38.6b
IMO Imperial Oil
9.5x-8.0%CA$46.9b
ONGC Oil and Natural Gas
7.4x10.1%₹3.0t
PTT PTT
7.9x-2.3%฿892.6b

Price-To-Earnings vs Peers: PTT is good value based on its Price-To-Earnings Ratio (7.9x) compared to the peer average (8.4x).

Price to Earnings Ratio vs Industry

How does PTT's PE Ratio compare vs other companies in the Asian Oil and Gas Industry?

7 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PTT 7.9xIndustry Avg. 10.6xNo. of Companies39PE0816243240+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PTT is good value based on its Price-To-Earnings Ratio (7.9x) compared to the Asian Oil and Gas industry average (10.6x).

Price to Earnings Ratio vs Fair Ratio

What is PTT's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PTT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.9x
Fair PE Ratio6.9x

Price-To-Earnings vs Fair Ratio: PTT is expensive based on its Price-To-Earnings Ratio (7.9x) compared to the estimated Fair Price-To-Earnings Ratio (6.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst PTT forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current฿31.25
฿37.02
+18.5%
9.5%฿43.00฿29.50n/a21
Dec ’25฿32.25
฿37.21
+15.4%
9.2%฿43.00฿29.50n/a21
Nov ’25฿33.75
฿36.86
+9.2%
10.9%฿43.00฿29.00n/a20
Oct ’25฿33.75
฿36.40
+7.9%
12.1%฿43.00฿29.00n/a19
Sep ’25฿33.50
฿36.53
+9.0%
12.0%฿43.00฿29.00n/a20
Aug ’25฿31.75
฿37.32
+17.5%
11.7%฿44.00฿29.00n/a19
Jul ’25฿32.50
฿37.32
+14.8%
11.7%฿44.00฿29.00n/a19
Jun ’25฿32.75
฿37.55
+14.7%
11.4%฿44.00฿29.00n/a20
May ’25฿33.75
฿37.50
+11.1%
11.2%฿43.00฿29.00n/a19
Apr ’25฿33.75
฿37.63
+11.5%
11.2%฿43.50฿30.00n/a19
Mar ’25฿34.00
฿38.01
+11.8%
11.2%฿43.70฿30.00n/a18
Feb ’25฿34.25
฿38.04
+11.1%
11.4%฿43.70฿30.00n/a17
Jan ’25฿35.75
฿38.18
+6.8%
11.7%฿43.70฿30.00n/a18
Dec ’24฿35.25
฿38.45
+9.1%
10.8%฿43.70฿30.00฿32.2517
Nov ’24฿33.00
฿37.67
+14.1%
13.4%฿45.00฿29.00฿33.7516
Oct ’24฿33.50
฿37.71
+12.6%
13.4%฿46.00฿29.00฿33.7517
Sep ’24฿35.00
฿37.58
+7.4%
13.7%฿46.00฿29.00฿33.5018
Aug ’24฿35.00
฿36.29
+3.7%
18.3%฿46.00฿20.00฿31.7517
Jul ’24฿33.50
฿36.88
+10.1%
15.0%฿46.00฿28.00฿32.5017
Jun ’24฿30.00
฿37.89
+26.3%
15.7%฿49.70฿28.00฿32.7517
May ’24฿31.00
฿39.09
+26.1%
15.6%฿49.70฿28.00฿33.7518
Apr ’24฿31.50
฿39.09
+24.1%
15.6%฿49.70฿28.00฿33.7518
Mar ’24฿32.00
฿39.48
+23.4%
14.8%฿49.70฿28.00฿34.0020
Feb ’24฿33.25
฿39.70
+19.4%
15.8%฿51.00฿28.00฿34.2518
Jan ’24฿33.25
฿40.78
+22.7%
17.0%฿52.00฿28.00฿35.7518
Dec ’23฿33.25
฿42.73
+28.5%
15.3%฿52.00฿30.00฿35.2518

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/26 12:37
End of Day Share Price 2024/12/26 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

PTT Public Company Limited is covered by 43 analysts. 18 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Nalinrat KittikumpolratAsia Plus Securities Company Limited
Chutima WoramontriBNP Paribas Securities (Asia)
Nithi WanikpunBNP Paribas Securities (Asia)