Inventory - Thai Oil PCL (SET:TOP)

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Price: 42.75 THB Market Closed

Market Cap: ฿95.5B

Thai Oil PCL
Inventory

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Balance Sheet

Thai Oil PCL
Inventory Peer Comparison

Company		Inventory	CAGR 3Y	CAGR 5Y	CAGR 10Y
T	Thai Oil PCL SET:TOP	Inventory ฿37.7B	CAGR 3-Years -16%	CAGR 5-Years 10%	CAGR 10-Years 6%
I	IRPC PCL SET:IRPC	Inventory ฿25.8B	CAGR 3-Years -19%	CAGR 5-Years 3%	CAGR 10-Years 0%
B	Bangchak Corporation PCL SET:BCP	Inventory ฿37B	CAGR 3-Years 3%	CAGR 5-Years 23%	CAGR 10-Years 11%
S	Star Petroleum Refining PCL SET:SPRC	Inventory ฿22B	CAGR 3-Years -10%	CAGR 5-Years 20%	CAGR 10-Years 7%
B	BBGI PCL SET:BBGI	Inventory ฿1.1B	CAGR 3-Years 2%	CAGR 5-Years -3%	CAGR 10-Years N/A
B	Bangchak Sriracha PCL SET:BSRC	Inventory ฿13.5B	CAGR 3-Years -25%	CAGR 5-Years 2%	CAGR 10-Years -1%

Thai Oil PCL
Glance View

Market Cap

95.5B THB

Industry

Energy

Thai Oil Public Company Limited, often recognized as a stalwart in Thailand's energy landscape, weaves its narrative through the intricate world of refining and petrochemical production. Established in 1961, the company began its journey with an objective to fortify the nation's energy independence. It operates a complex refining facility in Sriracha, one of Southeast Asia’s largest, where it meticulously transforms crude oil into a diverse product mix. This includes gasoline, diesel, and aviation fuels, alongside lube base oils and asphalt. Thai Oil's adeptness in leveraging advanced technology for refining processes contributes significantly to its efficiency, enabling it to optimize yields and align with market demands. Beyond refining, Thai Oil branches into the realms of power generation and petrochemicals, adding additional revenue streams. In the power sector, it produces electricity and steam, supplying both its operations and external customers. Its petrochemical arm delves into manufacturing products like aromatics, a fundamental component in producing plastics, textiles, and other industrial chemicals. Thai Oil's strategic geographical location and integrated operations allow it to not only meet local energy needs but also capture value in the global market by exporting surplus refined products. The company’s focus on sustainability and innovation includes initiatives aimed at reducing carbon emissions and exploring renewable energy solutions, showcasing Thai Oil’s commitment to balancing profitability with environmental stewardship. Through its multifaceted approach, Thai Oil sustains its stature as a vital player in Thailand's growth while adapting to global energy transitions.

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Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

The AI Assistant may sometimes provide inaccurate information.

Make your own investment decisions or consult a licensed financial advisor.

Thai Oil PCL
SET:TOP

Thai Oil PCL
Inventory

Thai Oil PCL
Inventory Peer Comparison

Competitors Analysis
Latest Figures & CAGR of Competitors

Thai Oil PCL
Glance View

See Also

What is Thai Oil PCL's Inventory?

Inventory
37.7B THB

What is Thai Oil PCL's Inventory growth rate?

Inventory CAGR 10Y
6%

Company

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Thai Oil PCL SET:TOP

Thai Oil PCL Inventory

Thai Oil PCL Inventory Peer Comparison

Competitors Analysis Latest Figures & CAGR of Competitors

Thai Oil PCL Glance View

See Also

What is Thai Oil PCL's Inventory? Inventory 37.7B THB

What is Thai Oil PCL's Inventory growth rate? Inventory CAGR 10Y 6%

Company

Help

Tools

Stocks

Thai Oil PCL
SET:TOP

Thai Oil PCL
Inventory

Thai Oil PCL
Inventory Peer Comparison

Competitors Analysis
Latest Figures & CAGR of Competitors

Thai Oil PCL
Glance View

What is Thai Oil PCL's Inventory?

Inventory
37.7B THB

What is Thai Oil PCL's Inventory growth rate?

Inventory CAGR 10Y
6%