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Thaioil Valuation Multiples
Discover revenue and EBITDA valuation multiples for Thaioil and similar public comparables like Kinetik Holdings, Alliance Res Partners, Rede Energia, Equatorial Energia Pará and more.
Thaioil Overview
About Thaioil
Thai Oil PCL operates an integrated business in oil refining and petrochemicals business. The company is engaged in oil refinery and distribution, petrochemicals, lube base oil and other businesses in domestic and overseas. It operates in the following reportable segments: Oil refinery, Lube base oil refinery, Aromatics and LAB, Solvent, Power generation, Ethanol, Olefins, and Others. The majority of the company's revenue is derived from the Oil refinery segment. Geographically, it generates the maximum revenue from Thailand, followed by Indonesia and other countries.
Founded
1961
HQ
Employees
484
Website
Sectors
Financials (LTM)
EV
$5B
Thaioil Financials
Thaioil reported last 12-month revenue of $13B and EBITDA of $713M.
In the same LTM period, Thaioil generated $882M in gross profit, $713M in EBITDA, and $435M in net income.
Revenue (LTM)
Thaioil P&L
In the most recent fiscal year, Thaioil reported revenue of $13B and EBITDA of $882M.
Thaioil expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $13B | XXX | $13B | XXX | XXX | XXX |
| Gross Profit | $882M | XXX | $384M | XXX | XXX | XXX |
| Gross Margin | 7% | XXX | 3% | XXX | XXX | XXX |
| EBITDA | $713M | XXX | $882M | XXX | XXX | XXX |
| EBITDA Margin | 6% | XXX | 7% | XXX | XXX | XXX |
| EBIT Margin | 3% | XXX | 2% | XXX | XXX | XXX |
| Net Profit | $435M | XXX | $454M | XXX | XXX | XXX |
| Net Margin | 3% | XXX | 4% | XXX | XXX | XXX |
| Net Debt | — | — | $2B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Thaioil Stock Performance
Thaioil has current market cap of $3B, and enterprise value of $5B.
Market Cap Evolution
Thaioil's stock price is $1.43.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $5B | $3B | -0.1% | XXX | XXX | XXX | $0.20 |
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Start Free TrialThaioil Valuation Multiples
Thaioil trades at 0.4x EV/Revenue multiple, and 7.3x EV/EBITDA.
EV / Revenue (LTM)
Thaioil Financial Valuation Multiples
As of April 21, 2026, Thaioil has market cap of $3B and EV of $5B.
Equity research analysts estimate Thaioil's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Thaioil has a P/E ratio of 7.3x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $3B | XXX | $3B | XXX | XXX | XXX |
| EV (current) | $5B | XXX | $5B | XXX | XXX | XXX |
| EV/Revenue | 0.4x | XXX | 0.4x | XXX | XXX | XXX |
| EV/EBITDA | 7.3x | XXX | 5.9x | XXX | XXX | XXX |
| EV/EBIT | 13.5x | XXX | 17.4x | XXX | XXX | XXX |
| EV/Gross Profit | 5.9x | XXX | 13.6x | XXX | XXX | XXX |
| P/E | 7.3x | XXX | 7.0x | XXX | XXX | XXX |
| EV/FCF | 4.4x | XXX | 2.8x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Thaioil Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Thaioil Margins & Growth Rates
Thaioil's revenue in the last 12 month grew by 1%.
Thaioil's revenue per employee in the last FY averaged $26.4M, while opex per employee averaged $0.2M for the same period.
Thaioil's rule of 40 is 12% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Thaioil's rule of X is 19% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Thaioil Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 1% | XXX | 1% | XXX | XXX | XXX |
| EBITDA Margin | 6% | XXX | 7% | XXX | XXX | XXX |
| EBITDA Growth | 29% | XXX | 3% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 12% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 19% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $26.4M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| S&M Expenses to Revenue | — | XXX | 0% | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 1% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 1% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Thaioil Public Comps
See public comps and valuation multiples for other Energy Production and Oil & Gas comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Thaioil | XXX | XXX | XXX | XXX | XXX | XXX |
| Kinetik Holdings | XXX | XXX | XXX | XXX | XXX | XXX |
| Alliance Res Partners | XXX | XXX | XXX | XXX | XXX | XXX |
| Rede Energia | XXX | XXX | XXX | XXX | XXX | XXX |
| Equatorial Energia Pará | XXX | XXX | XXX | XXX | XXX | XXX |
| SunocoCorp | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Thaioil M&A Activity
Thaioil acquired XXX companies to date.
Last acquisition by Thaioil was on XXXXXXXX, XXXXX. Thaioil acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Thaioil
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialThaioil Investment Activity
Thaioil invested in XXX companies to date.
Thaioil made its latest investment on XXXXXXXX, XXXXX. Thaioil invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Thaioil
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Thaioil
| When was Thaioil founded? | Thaioil was founded in 1961. |
| Where is Thaioil headquartered? | Thaioil is headquartered in Thailand. |
| How many employees does Thaioil have? | As of today, Thaioil has over 484 employees. |
| Who is the CEO of Thaioil? | Thaioil's CEO is Bandhit Thamprajamchit. |
| Is Thaioil publicly listed? | Yes, Thaioil is a public company listed on Stock Exchange of Thailand. |
| What is the stock symbol of Thaioil? | Thaioil trades under TOP ticker. |
| When did Thaioil go public? | Thaioil went public in 2004. |
| Who are competitors of Thaioil? | Thaioil main competitors are Kinetik Holdings, Alliance Res Partners, Rede Energia, Equatorial Energia Pará. |
| What is the current market cap of Thaioil? | Thaioil's current market cap is $3B. |
| What is the current revenue of Thaioil? | Thaioil's last 12 months revenue is $13B. |
| What is the current revenue growth of Thaioil? | Thaioil revenue growth (NTM/LTM) is 1%. |
| What is the current EV/Revenue multiple of Thaioil? | Current revenue multiple of Thaioil is 0.4x. |
| Is Thaioil profitable? | Yes, Thaioil is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Thaioil? | Thaioil's last 12 months EBITDA is $713M. |
| What is Thaioil's EBITDA margin? | Thaioil's last 12 months EBITDA margin is 6%. |
| What is the current EV/EBITDA multiple of Thaioil? | Current EBITDA multiple of Thaioil is 7.3x. |
| What is the current FCF of Thaioil? | Thaioil's last 12 months FCF is $1B. |
| What is Thaioil's FCF margin? | Thaioil's last 12 months FCF margin is 9%. |
| What is the current EV/FCF multiple of Thaioil? | Current FCF multiple of Thaioil is 4.4x. |
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