PTT Public Company Limited (PTT) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of PTT Public Company Limited stock THB 44.57, price THB 39.00, upside +14.3%, quality 54 out of 100. Rating: undervalued. Calculated from audited financials with 25 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range 25.35 THB – 42.25 THB · fair‑value band 27.97 THB – 55.71 THB · the 39.00 THB price screens below the 44.57 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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PTT Public Company Limited engages in petroleum business in Thailand, Asia, Europe, America, and internationally.
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It is involved in the exploration and production of petroleum; natural gas procurement, pipeline transmission, distribution, and separation activities; and management and maintenance services of port, LNG storage, and LNG station; and cooling management and other related businesses.
The company also markets petroleum products and lube oil through procurement, storage, and distribution of products, as well as conducts retail business at service stations.
In addition, it is involved in the import and export of petroleum and petrochemical products, and other related products; production and distribution of electricity, steam, and water for industrial purpose; and provision of human resource management and support, petroleum related technology, consultant management, petrol station and convenience store management, maintenance, engineering, plant inspection, and safety and environmental services; and operates as a technical consultants for electricity businesses.
Further, the company produces and distributes chilled water/constructs and installs electricity generating systems; distributes polymers and other polymers-related products; develops and rents real estate properties; operates vocational schools; manufactures and distributes biochemical products, paraxylene, and industrial coatings and additives, as well as offers polyethylene and oleochemical products, nonwoven fabrics, and medical consumables; and distributes plastic resin and chemical products.
Additionally, it provides financial services; coffee and beverages; and manufactures and distributes circular products. The company was founded in 1978 and is headquartered in Bangkok, Thailand.
Stock analysis
PTT Public Company Limited (PTT) currently trades at 39.00 THB, while our model-based Fair Value estimate is 44.57 THB, implying the stock looks roughly 12% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 46.38 THB per share, and 14 of the 25 models we run sit above the 39.00 THB price.
Bear case: the Earnings-Based group reads lowest at 16.25 THB, and 11 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: 27.97 THB (bear) to 55.71 THB (bull), the price of 39.00 THB sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 54/100 (solid quality), in the Energy sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
PTT Public Company Limited reported revenue of 2.7T THB in FY2025 versus 2.3T THB in FY2021, a compound +4.2%/yr. Reported net income was 90.2B THB in FY2025, compounding −4.5%/yr from FY2021.
Key figures
Market cap 1.1T THB (≈ $33.1B) Large · P/E ratio 9.0 · P/S ratio 0.51 · EPS (TTM) 4.33 THB · Dividend yield 6.7% · Net margin 4.4% · Return on equity 10.3% · Return on assets (EBIT) 6.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (medium confidence).
What moves the price
The share trades about 8% below its 52-week high and 34% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at −20% fair-value upside, at 14%, PTT screens cheaper than that median.
Fair Value models
Bear27.97 THBFair Value 44.57 THBBull55.71 THB
Price 39.00 THB · Upside +14.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (1.46 THB per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−13.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−7.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.5%
Start year 2020 (pandemic). Over 10 years: +2.8% a year
Revenue growth 25 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.3%
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What shareholders gained per year (last 5 years), in THB ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in THB: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+6.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−0.5%
Dividend (yield on the price)6.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−0.5% vs 5.0%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.6% → 6%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+1.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+1.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (Thailand: IMF forecast 1.2% a year to 2030, 1.1% from 2016 to 2025) that is about +0.2% a year for the price and +0.0% for the forecasts.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Oil & Gas Integrated · 42 stocks
Beats the industry median on 8/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score54 · Below median
Fair Value upside+14.3% · Top 25%
Profitability
Return on equity (12 months)10.3% · Below median
Return on assets3.6% · Below median
Net margin (12 months)5.7% · Bottom 25%
Operating margin (12 months)13.3% · Below median
Growth and dividend
Revenue growth (quarter YoY)22.7% · Below median
Dividend yield (12 months)6.7% · Top 25%
Balance sheet
Debt / equity0.59× · Highest 25%
Valuation Multiplesvs Oil & Gas Integrated median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "PTT Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/PTT
Frequently asked questions
Is PTT Public Company Limited (PTT) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 44.57 THB versus a price of 39.00 THB, about +14% upside (undervalued).
What is the fair value of PTT?
Our model-based fair value for PTT Public Company Limited is 44.57 THB (as of Nov 5, 2026), built from audited fundamentals. The current price: 39.00 THB.
What is the quality score of PTT?
PTT Public Company Limited has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for PTT Public Company Limited (PTT)?
Our model-based price target is the fair value of 44.57 THB (as of Nov 5, 2026) from 25 valuation models. Cautious scenario 27.97 THB, optimistic scenario 55.71 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the PTT Public Company Limited stock forecast for 2026?
Our models put fair value at 44.57 THB, about +14% upside versus a price of 39.00 THB (undervalued). Cautious scenario 27.97 THB, optimistic scenario 55.71 THB. The calculation is refreshed regularly with new filings.
What is the revenue of PTT Public Company Limited (PTT)?
PTT Public Company Limited reported trailing-twelve-month revenue of about 2.8T THB (latest available figure, as of Nov 5, 2026).
Does PTT Public Company Limited pay a dividend?
PTT Public Company Limited currently shows a dividend yield of 6.67% relative to its recent price (as of Nov 5, 2026).
What growth is priced into PTT Public Company Limited (PTT)?
For today's price to be fair in a discounted-cash-flow model, PTT Public Company Limited would have to grow free cash flow by +1.4 % per year for five years (discount rate 9.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.5 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of PTT use?
Our models discount PTT Public Company Limited at 9.7 %: a base by market capitalisation (large), damped by beta 0.34, country premium for Thailand. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For PTT Public Company Limited that is +1.4 % per year a year over ten years, using the same discount rate (9.7 %) and the same formula as our fair value.
How much growth has PTT Public Company Limited (PTT) delivered so far?
Over the past 5 years revenue at PTT Public Company Limited grew +10.5 % a year. The price currently implies +1.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of PTT Public Company Limited (PTT) growing?
The median revenue growth in the sector is +14.1 % a year. That is the yardstick for the growth priced into PTT Public Company Limited (+1.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of PTT Public Company Limited (PTT)?
The free-cash-flow yield on the price is 11.21 %: that much free cash flow PTT Public Company Limited produces per unit of market value. When it exceeds the discount rate of our models (9.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of PTT Public Company Limited (PTT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PTT Public Company Limited it is 44.57 THB per share (as of Nov 5, 2026), against a price of 39.00 THB. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is PTT Public Company Limited stock overvalued or undervalued in 2026?
As of Nov 5, 2026, PTT trades below its calculated fair value: price 39.00 THB, fair value 44.57 THB, a gap of about +14% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of PTT?
No. The price is what the market pays today (39.00 THB); the fair value is what the company's own numbers justify (44.57 THB). For PTT Public Company Limited the two are 5.57 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is PTT Public Company Limited worth?
The market values PTT Public Company Limited at about 1.1T THB (market capitalisation, as of Nov 5, 2026). Per share that is 39.00 THB; our models calculate a fair value of 44.57 THB per share.
What do the bullish and bearish scenarios say about PTT?
Our models span a range for PTT Public Company Limited: cautious scenario 27.97 THB, base 44.57 THB, optimistic 55.71 THB per share (as of Nov 5, 2026, price 39.00 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PTT?
PTT Public Company Limited trades at a price-to-earnings ratio of 9.0 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 44.57 THB is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 14.7 (reported for FY2025: 12.3). Other multiples: PEG 1.1, P/B 1.0, P/S 0.5, EV/EBITDA 4.8.
What is the PEG ratio of PTT?
The PEG ratio of PTT Public Company Limited is 1.07 (P/E divided by earnings growth, as of Nov 5, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of PTT Public Company Limited (PTT)?
Balance-sheet figures for PTT Public Company Limited (as of Nov 5, 2026): return on equity 10.3%, debt of 0.59 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is PTT from its 52-week high?
PTT Public Company Limited trades at 39.00 THB, about 8% below its 52-week high of 42.25 THB and 34% above the low of 29.06 THB (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of 44.57 THB is for.
Which stocks are comparable to PTT Public Company Limited?
From the same area (Energy) we also value Saudi Arabian Oil Company, Exxon Mobil Corporation, Chevron Corporation, PetroChina Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is PTT Public Company Limited stock attractive at the current price?
The data as of Nov 5, 2026: price 39.00 THB, calculated fair value 44.57 THB (+14%), Quality Score 54/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of PTT calculated?
We run PTT Public Company Limited through 25 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 44.57 THB, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.0% above its aggregate fair value. PTT Public Company Limited currently trades 12% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of PTT Public Company Limited (PTT)?
The closing price on Nov 5, 2026 was 39.00 THB. Our model-based fair value is 44.57 THB, about +14% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PTT Public Company Limited right now?
A fairly wide model range (27.97 THB to 55.71 THB) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of PTT Public Company Limited (PTT) come from?
Earnings per share at PTT Public Company Limited grew +6.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.4 %, EBIT margin +2.7 %, tax rate −1.1 %, residual (interest, one-offs) +1.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of PTT Public Company Limited
How large is the market capitalisation of PTT Public Company Limited (PTT)?
The market capitalisation of PTT Public Company Limited is 1.1T THB (≈ $33.1B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of PTT Public Company Limited (PTT)?
The price-to-sales ratio of PTT Public Company Limited is 0.51 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of PTT Public Company Limited (PTT)?
Earnings per share at PTT Public Company Limited are 4.33 THB (price ÷ EPS = P/E 9.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of PTT Public Company Limited (PTT)?
The dividend yield of PTT Public Company Limited is 6.7% (payout 72.1%, on adjusted earnings, reported 60.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of PTT Public Company Limited (PTT)?
The net margin of PTT Public Company Limited is 4.4% (last twelve months), excl. one-off gain FY2025 2.8%. How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of PTT Public Company Limited (PTT)?
The return on equity (ROE) of PTT Public Company Limited is 10.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of PTT Public Company Limited (PTT)?
On an EBIT basis the return on assets of PTT Public Company Limited is 6.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of PTT Public Company Limited (PTT)?
The operating margin of PTT Public Company Limited is 13.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PTT Public Company Limited (PTT)?
Revenue at PTT Public Company Limited is growing +22.7% versus a year earlier (3y avg −7.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at PTT Public Company Limited (PTT)?
Earnings per share at PTT Public Company Limited are growing +146% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does PTT Public Company Limited (PTT) carry?
The net debt of PTT Public Company Limited is 720B THB (fiscal year 2025, ≈ 5.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 5, 2026