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PTT Public Company (PTT) Fair Value & Analysis

Energy · TH · Market cap 1.1T THB

PP PTT Public Company PTT · BK
Price38.75 THB
Fair Value44.57 THB
Upside+15.0%
Quality62/100
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Mixed Growth
Thin margins · 3.5% net margin
Moderate debt · generates free cash flow
5.42% dividend yield
Ranks above peers (9/15)
Narrow moat 40/100
Evidence: Medium Range 33.43 THB – 61.63 THB Share as image

Fair value as of: Jul 18, 2026

From 25 valuation models · updated 20 days ago

Share price +6.2% over the past month.

A solid business, screening 15% undervalued on our models.

What matters now

  • A fairly wide model range (33.43 THB to 61.63 THB) leaves room in how you read the outcome.
  • Our model range runs from 33.43 THB (bear) to 61.63 THB (bull), base 44.57 THB. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 62/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

39.75 THB 24.48 THB Fair Value 44.57 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range 24.48 THB – 39.75 THB · fair‑value band 33.43 THB – 61.63 THB · the 38.75 THB price screens below the 44.57 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

Full chart & analysis →

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Analysis

PTT Public Company (PTT) currently trades at 38.75 THB, while our model-based Fair Value estimate is 44.57 THB, implying the stock looks roughly 15.0% undervalued today. We read business quality at 62/100 (solid quality), in the Energy sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, PTT Public Company generated revenue of 2.7T THB at a net margin of 3.5%. Revenue grew 2.6% year over year. It earns a return on equity of 7.5%. Net debt stands at 720B THB. Fundamentals as of Jul 18, 2026

Our scenario range runs from 33.43 THB (bear case) to 61.63 THB (bull case); at 38.75 THB, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 39% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -11% fair-value upside, at 15%, PTT screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 39.98 THB 63.01 THB 96.44 THB 80
Residual Income 33.99 THB 36.72 THB 43.31 THB 76
Rev-Margin DCF 34.96 THB 60.10 THB 87.45 THB 74
All 25 models by family
DCF Models
FCF DCF 38.43 THB 63.25 THB 100.95 THB 38
Owner Earnings 33.82 THB 56.33 THB 90.54 THB 31
5Y Revenue Exit 34.96 THB 59.69 THB 90.32 THB 39
5Y EBITDA Exit 70.96 THB 124.37 THB 184.89 THB 41
5Y P/E Exit 33.37 THB 56.83 THB 80.34 THB 38
10Y Revenue Exit 34.32 THB 57.12 THB 85.74 THB 36
10Y EBITDA Exit 58.86 THB 102.09 THB 156.91 THB 37
10Y P/E Exit 34.73 THB 55.13 THB 78.23 THB 35
Earnings-Based
Graham-Dodd 21.65 THB 53.97 THB 70.01 THB 54
PEG = 1.0 9.85 THB 14.07 THB 18.29 THB 46
EPV 20.20 THB 25.75 THB 30.69 THB 59
Dividend Discount
Gordon GGM 28.28 THB 55.02 THB 95.56 THB 70
DDM Multi-Stage 28.28 THB 43.59 THB 60.99 THB 61
Multiples
P/E Multiple 47.75 THB 63.67 THB 79.58 THB 63
P/S Multiple 40.59 THB 54.12 THB 67.65 THB 58
P/B Multiple 40.59 THB 54.12 THB 67.65 THB 55
EV/EBIT 58.67 THB 81.99 THB 105.30 THB 53
EV/EBITDA 101.87 THB 139.59 THB 177.30 THB 54
EV/Revenue 35.87 THB 56.08 THB 76.29 THB 43
Asset-Based
NCAV (Graham) 19.90 THB 26.67 THB 39.80 THB 50
Growth DCF
Growth DCF 39.98 THB 63.01 THB 96.44 THB 80
Rev-Margin DCF 34.96 THB 60.10 THB 87.45 THB 74
Economic Profit
Residual Income 33.99 THB 36.72 THB 43.31 THB 76
ROIC Compounder 20.20 THB 25.75 THB 30.69 THB 72
Growth Earnings
Growth-Adj P/E 36.91 THB 52.73 THB 68.55 THB 68

Widest divergence: Growth DCF (60.10 THB) versus Earnings-Based (25.75 THB). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 2.7T THB
Revenue growth (YoY) +2.6%
Net margin 3.5%
Return on equity 7.5%
Free cash flow 124B THB FY2025
P/E ratio 11.9
More key figures
Operating margin 9.3%
EPS (TTM) 3.25 THB
Dividend yield 5.4%
EPS growth (YoY) +11.7%
Net debt 720B THB FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 51 · Market factors (momentum, volatility) 76

Profitability 33
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 42
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 95
Calm price path (market factor)
Momentum 61
Price trend over the last 3–12 months (market factor)
52W Momentum 83
Distance to the 52-week high (market factor)
Net Issuance 87
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

PTT Public Company Limited engages in petroleum business in Thailand, Asia, Europe, America, and internationally. 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 …

Full company description

PTT Public Company Limited engages in petroleum business in Thailand, Asia, Europe, America, and internationally. 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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PTT Public Company 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.

Growth Quality 63/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
2.7T THB
Latest YoY
−13.9%
Avg. growth/yr (3Y)
−7.5%
Avg. growth/yr (5Y)
+10.5%
Avg. growth/yr (25Y)
+8.3%
Revenue +4.2%/yr
FY21 2.3T THB
FY22 3.4T THB
FY23 3.1T THB
FY24 3.1T THB
FY25 2.7T THB
Net income −4.5%/yr
FY21 108B THB
FY22 122B THB
FY23 112B THB
FY24 90.1B THB
FY25 90.2B THB

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Cite: Fair Value Calculator (2026). "PTT Public Company Fair Value". https://www.fairvalue-calculator.com/stock/PTT

Peer Group

Oil & Gas Integrated · 54 stocks

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.

Quality Score 62 · Above median
Fair Value upside +15% · Top 25%
Return on equity (TTM) 7% · Below median
Return on assets 3% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 9% · Below median
Revenue growth 3% · Above median
Dividend yield (TTM) 5.4% · Top 25%
Debt / equity 0.59× · Higher than 75% of peers

Valuation Multiples vs Oil & Gas Integrated median · lower = cheaper

P/E (TTM) 11.9× · Cheaper than median
P/B 0.97× · Cheaper than median
P/S (TTM) 0.41× · Cheaper than 75% of peers
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 4.5× · Cheaper than median
PEG 2.09× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 53 · sector 11
FUTURE 13 · sector 7
PAST 30 · sector 45
HEALTH 70 · sector 87
DIVIDEND 100 · sector 79

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Oil & Gas Integrated stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Saudi Arabian Oil Company 2222 26.72 SAR 20.14 SAR -25%
Exxon Mobil Corporation XOM $144.51 $90.37 -37%
Chevron Corporation CHEV C$22.88 C$7.97 -65%
PetroChina Company 601857 ¥10.29 ¥16.51 +60%
Shell plc SHELL €38.04 €46.09 +21%
TotalEnergies SE TTE C$13.80 C$7.92 -43%
Petróleo Brasileiro S.A PETR3 12,540 ARS 30,914 ARS +147%
BP p.l.c., an integrated energy company, BP $40.83 $12.71 -69%
China Petroleum & Chemical Corporation 600028 ¥5.03 ¥4.46 -11%
Equinor ASA EQNR $36.19 $34.53 -5%

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Frequently asked questions

Is PTT Public Company (PTT) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of 44.57 THB versus a price of 38.75 THB, about +15% (undervalued).
What is the fair value of PTT?
Our model-based fair value for PTT Public Company is 44.57 THB (as of Jul 18, 2026), built from audited fundamentals. The current price is 38.75 THB.
What is the quality score of PTT?
PTT Public Company has a Quality Score of 62/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of PTT Public Company (PTT)?
PTT Public Company reported trailing-twelve-month revenue of about 2.7T THB (latest available figure, as of Jul 18, 2026).
What is the net profit margin of PTT?
The net profit margin of PTT Public Company is about 3.5%, meaning it keeps roughly 3.5% of revenue as net income. Based on the latest reported figures.
Does PTT Public Company pay a dividend?
PTT Public Company currently shows a dividend yield of about 5.75% relative to its recent price (as of Jul 18, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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