Financials PTT

Equities

PTT

TH0646010Z00

Integrated Oil & Gas

End-of-day quote Thailand S.E. Other stock markets 2025-06-20			5-day change	1st Jan Change
30.00 ^THB	0.00%		-2.44%	-5.51%

May. 27	PTT Public Company Limited, Q1 2025 Earnings Call, May 21, 2025
May. 13	PTT Public Company Limited Reports Earnings Results for the First Quarter Ended March 31, 2025	CI

Projected Income Statement: PTT

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	1,615,665	2,258,818	3,367,203	3,144,551	3,090,453	3,059,492	3,011,028	3,014,413
Change	-	39.81%	49.07%	-6.61%	-1.72%	-1%	-1.58%	0.11%
EBITDA ¹	225,672	427,956	491,288	426,895	396,234	405,519	419,703	421,347
Change	-	89.64%	14.8%	-13.11%	-7.18%	2.34%	3.5%	0.39%
EBIT ¹	73,025	248,298	288,745	229,168	227,498	220,290	226,391	234,263
Change	-	240.02%	16.29%	-20.63%	-0.73%	-3.17%	2.77%	3.48%
Interest Paid ¹	-28,536	-28,163	-37,091	-45,383	-46,821	-43,542	-46,167	-51,169
Earnings before Tax (EBT) ¹	65,116	219,658	212,562	236,593	180,677	185,430	191,237	208,402
Change	-	237.33%	-3.23%	11.31%	-23.63%	2.63%	3.13%	8.98%
Net income ¹	37,766	108,363	91,175	112,024	90,072	92,739	95,081	100,100
Change	-	186.94%	-15.86%	22.87%	-19.6%	2.96%	2.53%	5.28%
Announcement Date	2/18/21	2/17/22	2/16/23	2/15/24	2/20/25	-	-	-

¹THB in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	341,325	383,599	407,174	477,837	533,256	558,888	688,838	758,465	926,954	884,611	797,174	756,690	778,065	802,683	807,113	782,256	821,943	761,858	724,373	700,223	638,184	638,184	638,184
Change	-	12.39%	6.15%	17.35%	11.6%	4.81%	23.25%	10.11%	22.21%	-4.57%	-9.88%	-5.08%	2.82%	3.16%	0.55%	-3.08%	5.07%	-7.31%	-4.92%	-3.33%	-8.86%	0%	0%
EBITDA	54,208	67,465	-	-	113,440	-	-	-	-	-	73,542	104,008	92,625	146,025	84,237	118,717	115,334	68,892	93,291	93,527	-	-	-
Change	-	24.46%	-	-	-	-	-	-	-	-	-	41.43%	-10.94%	57.65%	-42.31%	40.93%	-2.85%	-40.27%	35.42%	0.25%	-	-	-
EBIT ¹	16,351	32,260	27,969	60,754	67,460	73,126	51,585	103,554	138,414	45,637	8,300	58,079	50,914	97,518	29,640	71,181	62,023	7,690	38,344	48,727	42,736	42,736	42,736
Change	-	97.3%	-13.3%	117.22%	11.04%	8.4%	-29.46%	100.74%	33.66%	-67.03%	-81.81%	599.73%	-12.34%	91.53%	-69.61%	140.15%	-12.87%	-87.6%	398.64%	27.08%	-12.3%	0%	0%
Charge d'intérêts	-6,809	-7,346	-7,426	-6,439	-7,101	-	-	-7,445	-	-10,141	-10,355	-10,843	-11,437	-11,969	-11,134	-11,997	-12,242	-11,683	-10,898	-10,985	-	-	-
Earnings before Tax (EBT)	15,981	26,972	-	-	54,645	-	57,866	-	-	-	38,359	63,122	37,877	70,833	64,762	59,774	68,808	24,649	27,446	-	-	-	-
Change	-	68.77%	-	-	-	-	-	-	-	-	-	64.55%	-39.99%	87.01%	-8.57%	-7.7%	15.11%	-64.18%	11.35%	-	-	-	-
Net income ¹	12,053	14,120	13,147	32,588	24,579	23,653	27,544	25,571	38,848	8,884	17,872	27,855	20,107	31,297	32,765	28,968	35,469	16,324	9,311	23,315	24,419	-	-
Change	-	17.15%	-6.89%	147.88%	-24.58%	-3.77%	16.45%	-7.16%	51.92%	-77.13%	101.17%	55.86%	-27.82%	55.65%	4.69%	-11.59%	22.45%	-53.98%	-42.96%	150.41%	4.73%	-	-
Announcement Date	8/10/20	11/11/20	2/18/21	5/13/21	8/11/21	11/12/21	2/17/22	5/12/22	8/11/22	11/10/22	2/16/23	5/11/23	8/11/23	11/13/23	2/15/24	5/14/24	8/9/24	11/13/24	2/20/25	5/13/25	-	-	-

¹THB in Million

Estimates

Fiscal Period: December	2021 S1	2023 S1	2024 S1
Net sales ¹	1,011,093	1,534,755	1,604,222
Change	-	51.79%	4.53%
EBITDA ¹	-	196,633	234,051
Change	-	-	19.03%
EBIT	128,215	-	-
Change	-	-	-
Charge d'intérêts ¹	-13,540	-	-24,240
Earnings before Tax (EBT)	-	100,998	-
Change	-	-	-
Net income ¹	57,166	47,962	64,437
Change	-	-16.1%	34.35%
Announcement Date	8/11/21	8/11/23	8/9/24

¹THB in Million

Estimates

Forecast Balance Sheet: PTT

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	377,366	523,978	853,539	630,265	572,392	657,649	571,148	413,650
Change	-	38.85%	62.9%	-26.16%	-9.18%	14.89%	-13.15%	-27.58%
Announcement Date	2/18/21	2/17/22	2/16/23	2/15/24	2/20/25	-	-	-

¹THB in Million

Estimates

Cash Flow Forecast: PTT

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	143,344	135,678	161,874	163,734	160,460	217,786	202,218	129,231
Change	-	-5.35%	19.31%	1.15%	-2%	35.73%	-7.15%	-36.09%
Free Cash Flow (FCF) ¹	75,248	182,547	26,489	218,311	212,780	95,292	126,264	200,031
Change	-	142.59%	-85.49%	724.15%	-2.53%	-55.22%	32.5%	58.42%
Announcement Date	2/18/21	2/17/22	2/16/23	2/15/24	2/20/25	-	-	-

¹THB in Million

Estimates

Forecast Financial Ratios: PTT

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	13.97%	18.95%	14.59%	13.58%	12.82%	13.25%	13.94%	13.98%
EBIT Margin (%)	4.52%	10.99%	8.58%	7.29%	7.36%	7.2%	7.52%	7.77%
EBT Margin (%)	4.03%	9.72%	6.31%	7.52%	5.85%	6.06%	6.35%	6.91%
Net margin (%)	2.34%	4.8%	2.71%	3.56%	2.91%	3.03%	3.16%	3.32%
FCF margin (%)	4.66%	8.08%	0.79%	6.94%	6.89%	3.11%	4.19%	6.64%
FCF / Net Income (%)	199.25%	168.46%	29.05%	194.88%	236.23%	102.75%	132.8%	199.83%
Profitability
ROA	1.5%	3.85%	2.81%	3.3%	2.61%	2.88%	2.76%	3.35%
ROE	4.29%	11.47%	8.85%	10.3%	7.93%	8.28%	8.27%	8.22%
Financial Health
Leverage (Debt/EBITDA)	1.67x	1.22x	1.74x	1.48x	1.44x	1.62x	1.36x	0.98x
Debt / Free cash flow	5.01x	2.87x	32.22x	2.89x	2.69x	6.9x	4.52x	2.07x
Capital Intensity
CAPEX / Current Assets (%)	8.87%	6.01%	4.81%	5.21%	5.19%	7.12%	6.72%	4.29%
CAPEX / EBITDA (%)	63.52%	31.7%	32.95%	38.35%	40.5%	53.71%	48.18%	30.67%
CAPEX / FCF (%)	190.5%	74.33%	611.09%	75%	75.41%	228.55%	160.15%	64.61%
Items per share
Cash flow per share ¹	7.653	11.29	6.711	13.37	13.05	10.94	11.64	12.92
Change	-	47.5%	-40.54%	99.19%	-2.36%	-16.19%	6.39%	10.96%
Dividend per Share ¹	1	2	2	2	2.1	1.909	1.904	1.918
Change	-	100%	0%	0%	5%	-9.09%	-0.28%	0.76%
Book Value Per Share ¹	30.88	35.24	36.85	39.25	40.25	41.63	43.54	45.61
Change	-	14.13%	4.56%	6.51%	2.55%	3.43%	4.58%	4.77%
EPS ¹	1.32	3.79	3.2	3.92	3.15	3.251	3.43	3.515
Change	-	187.12%	-15.57%	22.5%	-19.64%	3.2%	5.52%	2.47%
Nbr of stocks (in thousands)	28,562,996	28,562,996	28,562,996	28,562,996	28,562,996	28,363,336	28,363,336	28,363,336
Announcement Date	2/18/21	2/17/22	2/16/23	2/15/24	2/20/25	-	-	-