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PTT

DB:PTOG
Snowflake Description

Established dividend payer with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PTOG
DB
฿828B
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

PTT Public Company Limited, together with its subsidiaries, engages in the upstream and downstream petroleum, natural gas, and other related businesses in Thailand, other Asian countries, Europe, the United States, and internationally. The last earnings update was 39 days ago. More info.


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  • PTT has significant price volatility in the past 3 months.
PTOG Share Price and Events
7 Day Returns
4.6%
DB:PTOG
18.1%
DE Oil and Gas
7.3%
DE Market
1 Year Returns
-40.7%
DB:PTOG
21.9%
DE Oil and Gas
-17.7%
DE Market
PTOG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
PTT (PTOG) 4.6% -28.4% -38.8% -40.7% -25% -14.3%
DE Oil and Gas 18.1% -15.9% -28.7% 21.9% -25.6% 137.4%
DE Market 7.3% -17.9% -25.8% -17.7% -25.6% -29%
1 Year Return vs Industry and Market
  • PTOG underperformed the Oil and Gas industry which returned 21.9% over the past year.
  • PTOG underperformed the Market in Germany which returned -17.7% over the past year.
Price Volatility
PTOG
Industry
5yr Volatility vs Market

Value

 Is PTT undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of PTT to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for PTT.

DB:PTOG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 20 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.7%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:PTOG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 7.5%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.81
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.808 (1 + (1- 20%) (79.55%))
1.216
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.22
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.216 * 7.46%)
8.68%

Discounted Cash Flow Calculation for DB:PTOG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for PTT is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:PTOG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (THB, Millions) Source Present Value
Discounted (@ 8.68%)
2020 141,924.07 Analyst x8 130,587.84
2021 121,417.65 Analyst x12 102,795.76
2022 130,291.42 Analyst x8 101,497.62
2023 127,483.85 Est @ -2.15% 91,378.05
2024 125,411.75 Est @ -1.63% 82,712.59
2025 123,838.12 Est @ -1.25% 75,150.94
2026 122,605.51 Est @ -1% 68,459.98
2027 121,607.83 Est @ -0.81% 62,479.13
2028 120,772.85 Est @ -0.69% 57,093.86
2029 120,051.07 Est @ -0.6% 52,219.51
Present value of next 10 years cash flows ฿824,375.00
DB:PTOG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ฿120,051.07 × (1 + -0.39%) ÷ (8.68% – -0.39%)
฿1,318,309.70
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ฿1,318,309.70 ÷ (1 + 8.68%)10
฿573,435.03
DB:PTOG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ฿824,375.00 + ฿573,435.03
฿1,397,810.03
Equity Value per Share
(THB)
= Total value / Shares Outstanding
= ฿1,397,810.03 / 28,563.00
฿48.94
DB:PTOG Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:PTOG represents 0.02741x of SET:PTT
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.02741x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (THB) x Listing Adjustment Factor
= ฿ 48.94 x 0.02741
€1.34
Value per share (EUR) From above. €1.34
Current discount Discount to share price of €0.80
= -1 x (€0.80 - €1.34) / €1.34
40.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price PTT is available for.
Intrinsic value
41%
Share price is €0.8 vs Future cash flow value of €1.34
Current Discount Checks
For PTT to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • PTT's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • PTT's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for PTT's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are PTT's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:PTOG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in THB ฿3.20
SET:PTT Share Price ** SET (2020-03-30) in THB ฿29
Europe Oil and Gas Industry PE Ratio Median Figure of 105 Publicly-Listed Oil and Gas Companies 5.67x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of PTT.

DB:PTOG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SET:PTT Share Price ÷ EPS (both in THB)

= 29 ÷ 3.20

9.06x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PTT is overvalued based on earnings compared to the Europe Oil and Gas industry average.
  • PTT is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does PTT's expected growth come at a high price?
Raw Data
DB:PTOG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.06x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts
4.4%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 65 Publicly-Listed Oil and Gas Companies 0.17x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

DB:PTOG PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.06x ÷ 4.4%

2.05x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PTT is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on PTT's assets?
Raw Data
DB:PTOG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in THB ฿30.76
SET:PTT Share Price * SET (2020-03-30) in THB ฿29
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 0.94x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.43x
DB:PTOG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SET:PTT Share Price ÷ Book Value per Share (both in THB)

= 29 ÷ 30.76

0.94x

* Primary Listing of PTT.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PTT is overvalued based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess PTT's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. PTT has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is PTT expected to perform in the next 1 to 3 years based on estimates from 20 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is PTT expected to grow at an attractive rate?
  • PTT's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • PTT's earnings growth is positive but not above the Germany market average.
  • PTT's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:PTOG Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:PTOG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts 4.4%
DB:PTOG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 20 Analysts 0.1%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 13%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:PTOG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below
All numbers in THB Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:PTOG Future Estimates Data
Date (Data in THB Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 2,202,034 266,118 101,326 13
2021-12-31 2,104,663 248,345 92,414 20
2020-12-31 1,943,428 229,870 79,303 19
2020-03-30
DB:PTOG Past Financials Data
Date (Data in THB Millions) Revenue Cash Flow Net Income *
2019-12-31 2,219,739 265,107 91,459
2019-09-30 2,277,049 270,822 93,904
2019-06-30 2,345,593 259,190 103,953
2019-03-31 2,354,056 256,780 108,129
2018-12-31 2,336,155 269,405 118,523
2018-09-30 2,250,698 276,286 134,418
2018-06-30 2,118,896 314,445 126,134
2018-03-31 2,018,897 325,173 127,028
2017-12-31 1,995,722 306,100 133,517
2017-09-30 1,940,620 293,262 116,572
2017-06-30 1,900,614 259,428 121,706
2017-03-31 1,841,999 255,509 115,255

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • PTT's earnings are expected to grow by 4.4% yearly, however this is not considered high growth (20% yearly).
  • PTT's revenue is expected to grow by 0.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:PTOG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below

All data from PTT Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PTOG Future Estimates Data
Date (Data in THB Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 3.50 4.62 2.51 10.00
2021-12-31 3.16 4.32 1.75 18.00
2020-12-31 2.83 4.33 1.45 17.00
2020-03-30
DB:PTOG Past Financials Data
Date (Data in THB Millions) EPS *
2019-12-31 3.20
2019-09-30 3.29
2019-06-30 3.64
2019-03-31 3.79
2018-12-31 4.15
2018-09-30 4.71
2018-06-30 4.42
2018-03-31 4.45
2017-12-31 4.67
2017-09-30 4.08
2017-06-30 4.26
2017-03-31 4.04

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • PTT is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess PTT's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
PTT has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has PTT performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare PTT's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • PTT has delivered over 20% year on year earnings growth in the past 5 years.
  • PTT's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • PTT's 1-year earnings growth is negative, it can't be compared to the Europe Oil and Gas industry average.
Earnings and Revenue History
PTT's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from PTT Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PTOG Past Revenue, Cash Flow and Net Income Data
Date (Data in THB Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 2,219,738.67 91,458.93 92,576.03
2019-09-30 2,277,049.12 93,904.20 88,892.32
2019-06-30 2,345,592.79 103,952.76 85,710.14
2019-03-31 2,354,056.46 108,129.44 84,056.52
2018-12-31 2,336,154.92 118,523.06 81,837.06
2018-09-30 2,250,697.69 134,418.41 88,218.26
2018-06-30 2,118,895.79 126,133.82 105,233.39
2018-03-31 2,018,896.80 127,027.71 101,730.04
2017-12-31 1,995,722.07 133,516.58 100,598.98
2017-09-30 1,940,619.91 116,571.55 96,907.02
2017-06-30 1,900,613.97 121,706.27 76,298.60
2017-03-31 1,841,999.31 115,255.17 75,156.00
2016-12-31 1,718,846.04 92,788.03 74,776.34
2016-09-30 1,712,655.93 73,999.45 68,827.24
2016-06-30 1,781,466.71 21,741.58 76,021.91
2016-03-31 1,896,985.09 20,874.52 79,948.97
2015-12-31 2,025,551.71 19,939.68 78,991.85
2015-09-30 2,120,860.66 -5,706.82 84,696.76
2015-06-30 2,311,202.54 46,233.49 81,252.60
2015-03-31 2,435,972.32 52,151.92 84,701.41
2014-12-31 2,605,062.38 58,106.39 85,000.12
2014-09-30 2,789,007.75 99,120.12 75,977.50
2014-06-30 2,817,763.02 103,323.60 69,348.48
2014-03-31 2,826,844.68 85,645.06 58,503.33
2013-12-31 2,842,408.31 92,900.92 55,470.19
2013-09-30 2,825,372.70 100,733.04 54,853.42
2013-06-30 2,788,317.53 105,805.76 55,036.43
2013-03-31 2,801,592.54 102,733.82 54,839.77

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • PTT has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • PTT used its assets less efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • PTT's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess PTT's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
PTT has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is PTT's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up PTT's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • PTT is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • PTT's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of PTT's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from PTT Company Filings, last reported 2 months ago.

DB:PTOG Past Debt and Equity Data
Date (Data in THB Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,301,039.62 649,898.72 330,805.76
2019-09-30 1,289,101.83 641,097.11 324,976.61
2019-06-30 1,299,110.03 616,585.66 352,461.27
2019-03-31 1,364,138.76 633,167.65 450,767.26
2018-12-31 1,317,565.61 538,192.33 434,605.06
2018-09-30 1,294,054.40 526,979.20 404,434.49
2018-06-30 1,288,036.42 505,145.03 358,719.73
2018-03-31 1,272,157.29 511,647.65 424,939.00
2017-12-31 1,248,555.74 523,727.46 395,840.28
2017-09-30 1,206,549.52 571,501.81 377,452.12
2017-06-30 1,210,325.16 576,802.41 380,468.21
2017-03-31 1,213,368.68 585,448.96 404,646.48
2016-12-31 1,171,597.01 607,019.57 392,380.04
2016-09-30 1,132,043.36 605,735.24 345,200.82
2016-06-30 1,123,750.43 627,912.02 356,032.38
2016-03-31 1,110,344.76 646,520.22 386,061.55
2015-12-31 1,087,687.37 651,796.19 346,725.35
2015-09-30 1,087,772.70 683,755.68 312,745.16
2015-06-30 1,122,628.18 682,449.80 307,239.60
2015-03-31 1,078,329.86 698,574.51 351,571.94
2014-12-31 1,054,694.20 721,486.81 316,756.97
2014-09-30 899,893.27 466,452.77 207,494.78
2014-06-30 893,947.54 482,778.98 190,441.40
2014-03-31 846,451.35 477,557.80 198,574.49
2013-12-31 822,842.41 482,299.25 160,370.25
2013-09-30 788,010.33 475,875.61 169,776.34
2013-06-30 766,455.18 453,928.30 118,157.59
2013-03-31 752,445.69 456,830.27 163,769.67
  • PTT's level of debt (50%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (68.4% vs 50% today).
  • Debt is well covered by operating cash flow (40.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.5x coverage).
X
Financial health checks
We assess PTT's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. PTT has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is PTT's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.9%
Current annual income from PTT dividends. Estimated to be 5.83% next year.
If you bought €2,000 of PTT shares you are expected to receive €138 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • PTT's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • PTT's dividend is above the markets top 25% of dividend payers in Germany (4.97%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:PTOG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 9.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 1%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:PTOG Future Dividends Estimate Data
Date (Data in ฿) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 1.92 13.00
2021-12-31 1.76 21.00
2020-12-31 1.48 21.00
2020-03-30
DB:PTOG Past Annualized Dividends Data
Date (Data in ฿) Dividend per share (annual) Avg. Yield (%)
2020-02-20 2.000 6.154
2019-09-27 2.100 4.718
2019-04-11 2.000 4.304
2018-02-20 2.000 3.942
2017-08-18 1.800 4.161
2017-03-17 1.600 4.142
2016-08-19 1.000 2.761
2016-03-02 1.000 3.277
2015-08-28 1.100 4.414
2015-02-20 1.100 3.319
2014-02-21 1.300 3.959
2013-09-06 1.300 4.302
2013-02-22 1.300 3.928
2012-08-24 1.200 3.642
2012-02-20 1.400 4.164
2011-11-11 1.200 3.718
2011-08-29 1.200 4.064
2011-02-28 1.100 3.196
2011-02-24 1.100 3.235
2010-08-30 0.950 3.027
2010-04-09 0.850 3.378
2009-08-21 0.600 2.481
2009-05-15 0.800 3.461

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of PTT's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.9x coverage).
X
Income/ dividend checks
We assess PTT's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can PTT afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. PTT has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of PTT's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Chansin Treenuchagron
COMPENSATION ฿1,331,927
AGE 59
TENURE AS CEO 1.6 years
CEO Bio

Mr. Chansin Treenuchagron serves as Chief Executive Officer, President, Secretary of the Board and Director at PTT PCL since August 31, 2018. He was Chief Technology and Engineering Officer at PTT Public Company Limited from January 1, 2018 until August 31, 2018. He has been Director of PTT Exploration and Production Public Company Limited since September 1, 2018. Mr. Treenuchagron was Chief Operating Officer of Infrastructure and Sustainability Management Business Group at PTT Public Company Limited from October 1, 2017 to December 31, 2017. Mr. Treenuchagron served as Senior Executive Vice President of Downstream Business Group Alignment at PTT Public Company Limited since January 01, 2016 until September 30, 2017. Mr. Treenuchagron served as Senior Executive Vice President of Corporate Strategy for PTT Public Company Limited since October 1, 2014 until September 30, 2015 and served as its Senior Executive Vice President of Petrochemicals and Refining Business Unit since October 1, 2015 until December 31, 2015. Mr. Treenuchagron served as Senior Executive Vice President of Corporate Commercial and Marketing at IRPC Public Company Limited from March 2013 to September 2014. He served as an Acting Senior Executive Vice President of Corporate Strategy and Planning and Senior Executive Vice President of Port and Asset Management Business Unit of IRPC Public Company Limited from October 19, 2011 to September 30, 2012 and served as its Executive Vice President of Corporate Planning since June 009. He was Chairman at PTT Polymer Marketing Company Limited from November 2015 to December 2017. He served as an Executive Vice President of PTT Public Company Limited since 2009. He served as Vice President of PTT Public Company Limited from 2002 to 2006. He was Chairman at PTT Green Energy (Thailand) Company Limited) from October 2014 to December 2015. He served as Acting Managing Director of PTT GE (Singapore) Public Company Limited from 2008 to 2009. He has been the Chairman, PTT Polymer Logistics Company Limited since October 1, 2017 and served as its Chairman since November 2015 until March 2016. He was Director at UBE Chemical (Asia) Public Company Limited from June 2012 to September 2014. He was Director at Rayong Acetylene Company Limited from February 2012 to September 2014. He was Director at Technology IRPC Company Limited from December 2011 to June 2014. He was Director at IRPC Polyol Company Limited from November 2011 to September 2014. He was Chairman at Rak Pa Sak Company Limited from November 2011 to August 2014. He was the Chairman at PTT Asahi Chemical Company Limited since May 19, 2017 until January 2018. He has been a Director of Thai oil Public Company since October 1, 2017. He serves as a Director of PTT Polymer Logistics Company Limited. He was Director of Global Power Synergy Public Company Limited since October 18, 2017 until August 31, 2018. Mr. Treenuchagron has been a Director of IRPC Public Company Limited since October 20, 2015. He serves as Chairman of the Board at IRPC Public Company Limited since August 31, 2018. He served as a Director at Thai Oil Public Company Limited from October 1, 2014 to October 1, 2015. He served as Director of PTT GE (Singapore) Public Company Limited from 2008 to 2009. He received Master Degree of Economic from Chulalongkorn University. He holds a Bachelors Degree of Economic from Thammasat University. He has been Chairman, PTT Digital Solutions Company Limited since December 2017. He holds Director Certification Program (DCP 85/2007), Financial Statements for Directors (FSD12/2011), Director Accreditation Program (DAP 93/2011), Charted Director Class (CDC 11/2015) Thai Institute of Directors Association (IOD). He holds Executive Development Relation (Class of 1st), Directorate of Civil Affairs, Royal Thai Army. He studied at Air War College (Class 35/2006). He studied Senior Executive Program (SEP) (Class of 20th), Sasin Graduate Institute of Business Administration of Chulalongkorn University. He studied PTT Executive Leadership, General Electric, GE, New York, USA. He studied Advance Senior Executive Program (ASEP-5), Class 5/2010, KELLOGG & SASIN, Chicago, USA. Advanced Certificate Course in Public Economics Management for Executives (Class of 10th) King Prajadhipok’s Institute. He studied Leadership Excellence through Awareness and Practice (LEAP), INSEAD, France and Singapore. He studied Leadership Development Program III (LDP III), Class 1/2014, PLLI, PTT Public Company Limited. He studied Diploma, The National Defense Course (Class 57/2014), National Defense College. He attended Seminar “Briefing on International Anti-Corruption. International Cases and Practices”, IOD (October 14, 2015). He holds Certificate in Top Executives in the Energy Education Program (Class of 7/2015), Thailand Energy Academy (TEA). He received Reward for Thammasat Best Economics Alumni 2015. He received Reward for Thammasat Best Alumni 2015.

CEO Compensation
  • Insufficient data for Chansin to compare compensation growth.
  • Chansin's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the PTT management team in years:

2.4
Average Tenure
56
Average Age
  • The tenure for the PTT management team is about average.
Management Team

Chansin Treenuchagron

TITLE
CEO, President
COMPENSATION
฿1M
AGE
59
TENURE
1.6 yrs

Pannalin Mahawongtikul

TITLE
Chief Financial officer
AGE
55
TENURE
1.4 yrs

Sumrid Sumneing

TITLE
Executive Vice President of Group Corporate Finance and Strategy
AGE
54

Wittawat Svasti-Xuto

TITLE
Chief Technology & Engineering Officer
AGE
58
TENURE
1.5 yrs

Peangpanor Boonklum

TITLE
Senior Executive Vice President of Office - General Counsel
AGE
52
TENURE
2.4 yrs

Athavuth Vikitsreth

TITLE
Senior Executive Vice President of Public Relations
AGE
59
TENURE
3.2 yrs

Sukrit Surabotsopon

TITLE
Senior Executive Vice President
AGE
61
TENURE
10.2 yrs

Atikom Terbsiri

TITLE
Chief Operating Officer of Upstream Petroleum & Gas Business Group
AGE
57
TENURE
9.2 yrs

Auttapol Rerkpiboon

TITLE
Chief Operating Officer of Downstream Petroleum Business Group
AGE
53
TENURE
5.4 yrs

Kris Imsang

TITLE
Senior Executive Vice President of Downstream Business Group Alignment
AGE
53
TENURE
2.2 yrs
Board of Directors Tenure

Average tenure and age of the PTT board of directors in years:

3.3
Average Tenure
59
Average Age
  • The tenure for the PTT board of directors is about average.
Board of Directors

Krairit Euchukanonchai

TITLE
Independent Chairman of the Board
COMPENSATION
฿2M
AGE
64
TENURE
1.5 yrs

Chansin Treenuchagron

TITLE
CEO, President
COMPENSATION
฿1M
AGE
59
TENURE
1.6 yrs

Supattanapong Punmeechaow

TITLE
Independent Director
AGE
59
TENURE
0.4 yrs

Kittipong Kittayarak

TITLE
Independent Director
COMPENSATION
฿4M
AGE
60
TENURE
5.7 yrs

Don Wasantapruek

TITLE
Independent Director
COMPENSATION
฿4M
AGE
60
TENURE
5.7 yrs

Vichai Assarasakorn

TITLE
Independent Director
COMPENSATION
฿4M
AGE
58
TENURE
5.5 yrs

Teerawat Boonyawat

TITLE
Independent Director

Surapon Nitikraipot

TITLE
Independent Director
COMPENSATION
฿3M
AGE
59
TENURE
1.9 yrs

Nuntawan Sakuntanaga

TITLE
Independent Director
COMPENSATION
฿4M
AGE
60
TENURE
5.7 yrs

Thon Thamrongnawasawat

TITLE
Independent Director
COMPENSATION
฿4M
AGE
52
TENURE
3.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess PTT's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. PTT has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

PTT Public Company Limited, together with its subsidiaries, engages in the upstream and downstream petroleum, natural gas, and other related businesses in Thailand, other Asian countries, Europe, the United States, and internationally. It operates through Upstream Petroleum and Natural Gas Business Group, Downstream Petroleum Business Group, and Technology and Engineering Group segments. The company engages in the exploration and production of petroleum; and natural gas procurement, pipeline transmission, distribution, and separation activities. In addition, it is involved in the exploration, production, and distribution of coal; marketing of petroleum products and lube oil through an operating system of procurement, storage, and distribution of products, as well as the retail business at service stations. Further, it imports and exports petroleum and petrochemical products, as well as other related products; and produces and distributes electricity, steam, and water for industrial purpose, as well as offers project management services. Additionally, the company provides human resource support, petroleum related technology, consultant management, technical consultant, petrol station and convenience store management, factory maintenance and engineering, oil and gas, safety and environmental, and business services, as well as services for the storage and handling of liquid chemicals. It also invests in liquefied natural gas business; produces and distributes chilled water/constructs and installs electricity generating systems; develops electricity power production projects; invests in other companies; develops, markets, and distributes polymers products, by products, and other polymers-related products; and manufactures and distributes biochemical products, as well as engages in transportation, warehouse, and bagging packing management of polyethylene. PTT Public Company Limited was founded in 1978 and is headquartered in Bangkok, Thailand.

Details
Name: PTT Public Company Limited
PTOG
Exchange: DB
Founded: 1978
฿22,948,878,048
28,562,996,250
Website: http://www.pttplc.com
Address: PTT Public Company Limited
555 Vibhavadi Rangsit Road,
Chatuchak,
Bangkok,
10900,
Thailand
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SET PTT Ordinary Shares The Stock Exchange of Thailand TH THB 06. Dec 2001
OTCPK PCHU.Y UNSPONSORD ADR Pink Sheets LLC US USD 08. May 2012
OTCPK PUTR.Y UNSPONSORED ADR Pink Sheets LLC US USD 12. Dec 2011
SET PTT-R THB10(NON VTG DEP RCPT) The Stock Exchange of Thailand TH THB 06. Dec 2001
THAMSE PTT-F THB1(ALIEN) Bangkok-Alien Market Stock Exchange TH THB 06. Dec 2001
OTCPK PUTR.F THB10(NON VTG DEP RCPT) Pink Sheets LLC US USD 06. Dec 2001
OTCPK PETF.F THB1(ALIEN) Pink Sheets LLC US USD 06. Dec 2001
DB NVA3 THB10(NON VTG DEP RCPT) Deutsche Boerse AG DE EUR 06. Dec 2001
DB PTOG THB1(ALIEN) Deutsche Boerse AG DE EUR 06. Dec 2001
Number of employees
Current staff
Staff numbers
0
PTT employees.
Industry
Integrated Oil and Gas
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/30 21:34
End of day share price update: 2020/03/30 00:00
Last estimates confirmation: 2020/03/27
Last earnings filing: 2020/02/20
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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 here.