Star Petroleum Refining Public Company Limited

SET:SPRC Stock Report

Market Cap: ฿32.5b

Star Petroleum Refining Future Growth

Future criteria checks 0/6

Star Petroleum Refining's earnings are forecast to decline at 28.7% per annum while its annual revenue is expected to grow at 6% per year. EPS is expected to decline by 28.7% per annum. Return on equity is forecast to be 10.1% in 3 years.

Key information

-28.7%

Earnings growth rate

-28.75%

EPS growth rate

Oil and Gas earnings growth3.9%
Revenue growth rate6.0%
Future return on equity10.10%
Analyst coverage

Good

Last updated25 Jun 2026

Recent future growth updates

Recent updates

Narrative Update • Jun 26

SPRC: Dividend Payout And Governance Changes Will Shape Balanced Outlook

Analysts have adjusted their fair value estimate for Star Petroleum Refining from THB5.27 to THB6.70, citing updated views on revenue trends, profit margins, discount rate assumptions, and a higher forward P/E multiple. What's in the News for Star Petroleum Refining At the annual general meeting on 10 April 2026, shareholders approved a 2025 annual dividend of US$62,203,107, equal to THB0.45 per share.
New Narrative • Jan 24

Integrated Refining And Retail Expansion Will Support Stronger Long Term Earnings Resilience

Catalysts About Star Petroleum Refining Star Petroleum Refining operates a refinery and integrated marketing business focused on supplying transport fuels and related products in Thailand and the broader region. What are the underlying business or industry changes driving this perspective?

Earnings and Revenue Growth Forecasts

SET:SPRC - Analysts future estimates and past financials data (THB Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/2028273,9524,6134,2286,9709
12/31/2027261,9184,1563,4544,86713
12/31/2026253,8385,1914,0227,54513
3/31/2026229,5729,2231,4485,061N/A
12/31/2025241,8822,5696,0108,345N/A
9/30/2025248,4441,6427,6669,193N/A
6/30/2025251,600-2,1536,2747,343N/A
3/31/2025264,278-9956,4257,694N/A
12/31/2024270,6062,23511,80612,897N/A
9/30/2024277,909-2,5161,4032,756N/A
6/30/2024280,3293,9452,4213,869N/A
3/31/2024269,9051,4949,79811,088N/A
12/31/2023265,497-1,2306,3407,509N/A
9/30/2023259,8573,61910,61211,261N/A
6/30/2023268,832-5,6528,9809,363N/A
3/31/2023286,0783,6084,8395,139N/A
12/31/2022285,2647,674-123156N/A
9/30/2022272,3619,2683,7003,903N/A
6/30/2022237,40814,4084,2864,427N/A
3/31/2022200,9458,0251,4501,588N/A
12/31/2021172,4844,7463,6793,782N/A
9/30/2021152,3903,7541,3101,400N/A
6/30/2021143,4453,9091,7861,956N/A
3/31/2021127,7314,2745,0665,349N/A
12/31/2020130,163-6,005-1,797-1,448N/A
9/30/2020125,259-9,842-8,144-6,544N/A
6/30/2020137,317-11,034-4,796-2,662N/A
3/31/2020160,818-12,772-12,961-10,563N/A
12/31/2019168,840-2,809N/A-3,726N/A
9/30/2019195,704-3,715N/A9,432N/A
6/30/2019203,447-1,542N/A-1,943N/A
3/31/2019207,0991,381N/A3,567N/A
12/31/2018209,1592,263N/A6,483N/A
9/30/2018199,8278,717N/A-1,003N/A
6/30/2018190,34910,288N/A11,801N/A
3/31/2018175,1138,559N/A9,494N/A
12/31/2017170,5358,895N/A10,860N/A
9/30/2017169,4999,133N/A8,835N/A
6/30/2017165,8827,485N/A6,779N/A
3/31/2017166,5549,894N/A9,542N/A
12/31/2016155,0828,688N/A7,637N/A
9/30/2016151,3437,723N/A12,937N/A
6/30/2016155,7955,942N/A15,280N/A
3/31/2016166,9217,330N/A15,418N/A
12/31/2015178,8778,227N/A20,534N/A
9/30/2015193,988282N/A18,127N/A
6/30/2015216,146677N/A11,436N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: SPRC's earnings are forecast to decline over the next 3 years (-28.7% per year).

Earnings vs Market: SPRC's earnings are forecast to decline over the next 3 years (-28.7% per year).

High Growth Earnings: SPRC's earnings are forecast to decline over the next 3 years.

Revenue vs Market: SPRC's revenue (6% per year) is forecast to grow slower than the TH market (9.7% per year).

High Growth Revenue: SPRC's revenue (6% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: SPRC's Return on Equity is forecast to be low in 3 years time (10.1%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/27 13:53
End of Day Share Price 2026/06/26 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

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.

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 Github.

Analyst Sources

Star Petroleum Refining Public Company Limited is covered by 19 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Komsun SuksumrunBofA Global Research
Suppata SrisukBualuang Securities PCL
Amornrat CheevavichawalkulCGS International