National Petroleum Co Ltd
TWSE:9937

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National Petroleum Co Ltd Logo
National Petroleum Co Ltd
TWSE:9937
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Price: 58.2 TWD -1.52% Market Closed
Market Cap: 18B TWD
Financials Section:
Income Statement Balance Sheet Cash Flow Statement

Income Statement

Revenue
+
3Y
-5%
5Y
+19%
10Y
+4%
Operating Income
+
3Y
0%
5Y
+18%
10Y
+194%
Net Income
+
3Y
-1%
5Y
-1%
10Y
+60%

Earnings Waterfall
National Petroleum Co Ltd

Revenue
22.9B TWD
Cost of Revenue
-20.2B TWD
Gross Profit
2.8B TWD
Operating Expenses
-2B TWD
Operating Income
771.9m TWD
Other Expenses
-35.9m TWD
Net Income
736m TWD

Income Statement
National Petroleum Co Ltd

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Income Statement
Currency: TWD
Dec-2004 Mar-2007 Jun-2007 Sep-2007 Dec-2007 Mar-2008 Jun-2008 Sep-2008 Dec-2008 Mar-2009 Jun-2009 Sep-2009 Dec-2009 Mar-2010 Jun-2010 Sep-2010 Dec-2010 Mar-2011 Jun-2011 Sep-2011 Dec-2011 Mar-2012 Jun-2012 Sep-2012 Dec-2012 Mar-2013 Jun-2013 Sep-2013 Dec-2013 Mar-2014 Jun-2014 Sep-2014 Dec-2014 Mar-2015 Jun-2015 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Mar-2017 Jun-2017 Sep-2017 Dec-2017 Mar-2018 Jun-2018 Sep-2018 Dec-2018 Mar-2019 Jun-2019 Sep-2019 Dec-2019 Mar-2020 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Sep-2021 Dec-2021 Mar-2022 Jun-2022 Sep-2022 Dec-2022 Mar-2023 Jun-2023 Sep-2023 Dec-2023 Mar-2024 Jun-2024 Sep-2024 Dec-2024 Mar-2025 Jun-2025 Sep-2025
Revenue
Interest Expense
5
0
0
0
0
0
3
5
6
6
4
2
1
0
1
1
1
1
0
0
0
0
1
1
1
1
2
4
7
10
12
13
13
14
14
15
16
15
15
14
13
11
9
7
5
2
1
1
1
11
20
29
41
45
49
50
48
45
41
41
40
40
39
35
33
30
28
27
26
27
27
28
30
30
29
29
Revenue
15 706
N/A
4 859
-69%
10 183
+110%
15 693
+54%
21 156
+35%
21 727
+3%
19 320
-11%
19 343
+0%
17 918
-7%
16 650
-7%
18 703
+12%
19 283
+3%
21 792
+13%
23 911
+10%
25 763
+8%
26 890
+4%
27 774
+3%
29 068
+5%
30 222
+4%
30 916
+2%
31 426
+2%
31 534
+0%
31 183
-1%
31 387
+1%
31 157
-1%
31 171
+0%
30 957
-1%
30 585
-1%
30 486
0%
30 096
-1%
30 154
+0%
29 735
-1%
28 295
-5%
26 094
-8%
24 145
-7%
22 020
-9%
20 560
-7%
19 591
-5%
18 779
-4%
18 108
-4%
18 075
0%
18 743
+4%
18 778
+0%
19 204
+2%
19 755
+3%
20 262
+3%
21 255
+5%
22 306
+5%
22 759
+2%
22 904
+1%
23 146
+1%
22 951
-1%
22 932
0%
22 536
-2%
20 356
-10%
19 364
-5%
18 358
-5%
18 413
+0%
19 353
+5%
19 837
+2%
21 199
+7%
22 139
+4%
23 159
+5%
24 138
+4%
24 165
+0%
24 052
0%
24 301
+1%
24 462
+1%
24 535
+0%
24 534
0%
24 556
+0%
24 277
-1%
24 033
-1%
23 966
0%
23 526
-2%
22 948
-2%
Gross Profit
Cost of Revenue
(13 132)
(4 332)
(9 123)
(14 066)
(18 941)
(19 486)
(17 230)
(17 361)
(16 038)
(14 783)
(16 652)
(17 184)
(19 591)
(21 694)
(23 585)
(24 671)
(25 524)
(26 793)
(27 915)
(28 646)
(29 144)
(29 418)
(29 159)
(29 391)
(29 166)
(29 314)
(29 151)
(28 827)
(28 739)
(28 363)
(28 442)
(28 057)
(26 619)
(24 448)
(22 471)
(20 344)
(18 910)
(17 827)
(16 891)
(16 135)
(16 017)
(16 726)
(16 796)
(17 136)
(17 590)
(18 007)
(18 913)
(19 959)
(20 445)
(20 536)
(20 747)
(20 517)
(20 433)
(20 093)
(17 974)
(16 979)
(15 915)
(15 835)
(16 772)
(17 250)
(18 633)
(19 589)
(20 604)
(21 546)
(21 585)
(21 500)
(21 668)
(21 774)
(21 807)
(21 766)
(21 767)
(21 505)
(21 261)
(21 195)
(20 765)
(20 197)
Gross Profit
2 574
N/A
527
-80%
1 060
+101%
1 627
+54%
2 215
+36%
2 242
+1%
2 090
-7%
1 983
-5%
1 880
-5%
1 868
-1%
2 051
+10%
2 100
+2%
2 201
+5%
2 216
+1%
2 178
-2%
2 219
+2%
2 250
+1%
2 275
+1%
2 307
+1%
2 270
-2%
2 282
+1%
2 116
-7%
2 024
-4%
1 996
-1%
1 991
0%
1 857
-7%
1 805
-3%
1 758
-3%
1 747
-1%
1 733
-1%
1 713
-1%
1 679
-2%
1 676
0%
1 646
-2%
1 674
+2%
1 676
+0%
1 649
-2%
1 764
+7%
1 888
+7%
1 973
+4%
2 058
+4%
2 017
-2%
1 982
-2%
2 068
+4%
2 165
+5%
2 256
+4%
2 342
+4%
2 347
+0%
2 314
-1%
2 368
+2%
2 399
+1%
2 433
+1%
2 500
+3%
2 443
-2%
2 383
-2%
2 385
+0%
2 443
+2%
2 578
+6%
2 580
+0%
2 586
+0%
2 566
-1%
2 550
-1%
2 555
+0%
2 593
+1%
2 579
-1%
2 551
-1%
2 633
+3%
2 688
+2%
2 728
+1%
2 768
+1%
2 789
+1%
2 772
-1%
2 772
+0%
2 771
0%
2 760
0%
2 751
0%
Operating Income
Operating Expenses
(2 252)
(496)
(967)
(1 430)
(1 902)
(1 870)
(1 794)
(1 768)
(1 730)
(1 694)
(1 735)
(1 731)
(1 754)
(1 759)
(1 753)
(1 783)
(1 975)
(1 972)
(1 987)
(2 031)
(1 964)
(1 832)
(1 785)
(1 681)
(1 717)
(1 563)
(1 531)
(1 505)
(1 503)
(1 499)
(1 485)
(1 473)
(1 453)
(1 435)
(1 434)
(1 414)
(1 423)
(1 422)
(1 400)
(1 426)
(1 415)
(1 419)
(1 436)
(1 453)
(1 483)
(1 541)
(1 561)
(1 573)
(1 557)
(1 587)
(1 644)
(1 692)
(1 755)
(1 756)
(1 745)
(1 733)
(1 734)
(1 759)
(1 761)
(1 758)
(1 743)
(1 771)
(1 792)
(1 820)
(1 843)
(1 863)
(1 883)
(1 900)
(1 912)
(1 934)
(1 962)
(1 992)
(1 992)
(2 010)
(2 002)
(1 979)
Selling, General & Administrative
(2 252)
(496)
(967)
(1 430)
(1 902)
(1 870)
(1 794)
(1 768)
(1 730)
(1 694)
(1 735)
(1 731)
(1 754)
(1 759)
(1 752)
(1 783)
(1 975)
(1 972)
(1 987)
(2 031)
(1 964)
(1 832)
(1 785)
(1 681)
(1 716)
(1 564)
(1 531)
(1 505)
(1 504)
(1 499)
(1 483)
(1 472)
(1 436)
(1 415)
(1 431)
(1 409)
(1 417)
(1 417)
(1 394)
(1 421)
(1 410)
(1 413)
(1 430)
(1 447)
(1 477)
(1 512)
(1 532)
(1 544)
(1 549)
(1 577)
(1 632)
(1 679)
(1 743)
(1 744)
(1 733)
(1 721)
(1 722)
(1 746)
(1 747)
(1 742)
(1 727)
(1 755)
(1 777)
(1 804)
(1 827)
(1 833)
(1 853)
(1 882)
(1 893)
(1 915)
(1 943)
(1 972)
(1 973)
(1 990)
(1 982)
(1 961)
Depreciation & Amortization
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(1)
0
0
(3)
(3)
(4)
(5)
(5)
(5)
(5)
(5)
(6)
(6)
(6)
(6)
(7)
(6)
(7)
(9)
(10)
(12)
(12)
(12)
(12)
(12)
(12)
(12)
(13)
(14)
(15)
(16)
(16)
(16)
(16)
(16)
(17)
(17)
(18)
(19)
(19)
(19)
(19)
(19)
(19)
(19)
(18)
Other Operating Expenses
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(18)
(18)
0
0
0
0
0
0
0
0
0
0
0
(22)
(22)
(22)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(13)
(13)
0
0
0
0
0
0
0
0
0
Operating Income
322
N/A
31
-90%
93
+195%
197
+113%
313
+59%
372
+19%
296
-20%
215
-27%
150
-30%
174
+16%
317
+82%
369
+17%
446
+21%
457
+3%
425
-7%
436
+3%
275
-37%
303
+10%
321
+6%
239
-25%
318
+33%
284
-11%
239
-16%
315
+32%
274
-13%
294
+7%
275
-6%
253
-8%
244
-4%
234
-4%
228
-3%
206
-10%
222
+8%
211
-5%
240
+14%
263
+9%
227
-14%
341
+51%
489
+43%
547
+12%
643
+18%
598
-7%
546
-9%
615
+13%
682
+11%
715
+5%
781
+9%
774
-1%
756
-2%
781
+3%
755
-3%
742
-2%
744
+0%
686
-8%
638
-7%
652
+2%
709
+9%
819
+16%
819
+0%
829
+1%
823
-1%
779
-5%
763
-2%
773
+1%
736
-5%
688
-7%
749
+9%
788
+5%
816
+4%
834
+2%
827
-1%
781
-5%
780
0%
761
-2%
759
0%
772
+2%
Pre-Tax Income
Interest Income Expense
55
101
156
204
217
133
47
22
(6)
(1)
33
31
28
29
29
17
21
26
35
45
43
47
47
37
42
36
31
38
34
32
40
46
45
42
30
22
209
206
206
206
20
22
21
20
20
23
22
23
25
13
3
(3)
(21)
(25)
(25)
(39)
(40)
(38)
(41)
(21)
(20)
(25)
(23)
(28)
(21)
(12)
(3)
(9)
(1)
(1)
(2)
(7)
(15)
(15)
(18)
0
Non-Reccuring Items
0
0
0
0
0
0
0
0
0
0
0
(10)
(20)
(20)
(20)
(10)
0
0
0
0
0
0
0
0
0
0
(1)
(1)
(1)
0
0
0
0
0
(27)
(32)
(19)
(25)
(20)
(21)
(22)
(16)
(11)
(6)
(22)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(13)
(13)
0
0
7
1
0
0
(3)
9
9
9
5
Gain/Loss on Disposition of Assets
0
(0)
(0)
(5)
(7)
(7)
(10)
(9)
(8)
(8)
(5)
(2)
(18)
(18)
(18)
(19)
1 691
1 689
1 684
1 661
(32)
(35)
(32)
(14)
(15)
(11)
(9)
(4)
(14)
(12)
(13)
(22)
(11)
(10)
145
153
(0)
1
(155)
(153)
36
35
36
35
(2)
(2)
(3)
(3)
(7)
(7)
(7)
(8)
(4)
(7)
(9)
(9)
(11)
(5)
(2)
(4)
(4)
(4)
(4)
(2)
(2)
(5)
(6)
(4)
(5)
(1)
(3)
(6)
(7)
(6)
(5)
0
Total Other Income
284
132
176
232
275
174
280
333
399
383
266
220
175
163
163
159
162
153
142
305
307
335
344
190
202
185
182
182
189
152
147
151
136
140
144
130
143
133
125
163
164
172
182
138
147
146
147
151
121
152
164
182
202
190
251
312
310
311
258
213
216
207
219
196
207
210
180
178
162
150
154
155
155
155
162
143
Pre-Tax Income
661
N/A
264
-60%
425
+61%
629
+48%
798
+27%
672
-16%
612
-9%
561
-8%
535
-5%
548
+2%
611
+11%
608
-1%
611
+0%
611
0%
579
-5%
583
+1%
2 149
+269%
2 170
+1%
2 181
+1%
2 251
+3%
636
-72%
630
-1%
599
-5%
527
-12%
502
-5%
504
+0%
478
-5%
468
-2%
452
-3%
406
-10%
402
-1%
380
-5%
393
+3%
382
-3%
532
+39%
535
+1%
560
+5%
656
+17%
645
-2%
742
+15%
840
+13%
812
-3%
774
-5%
802
+4%
825
+3%
882
+7%
947
+7%
944
0%
896
-5%
939
+5%
915
-3%
913
0%
922
+1%
845
-8%
854
+1%
916
+7%
969
+6%
1 087
+12%
1 034
-5%
1 016
-2%
1 015
0%
957
-6%
955
0%
926
-3%
907
-2%
880
-3%
921
+5%
960
+4%
973
+1%
982
+1%
976
-1%
920
-6%
922
+0%
904
-2%
907
+0%
920
+1%
Net Income
Tax Provision
(155)
(41)
(72)
(116)
(156)
(154)
(166)
(153)
(149)
(145)
(154)
(160)
(165)
(159)
(134)
(124)
(81)
(81)
(142)
(153)
(170)
(170)
(103)
(93)
(89)
(88)
(82)
(79)
(77)
(69)
(66)
(61)
(64)
(62)
(71)
(74)
(68)
(85)
(102)
(119)
(134)
(128)
(117)
(121)
(138)
(143)
(164)
(171)
(160)
(180)
(177)
(176)
(184)
(170)
(171)
(187)
(194)
(217)
(204)
(208)
(211)
(201)
(205)
(190)
(186)
(178)
(186)
(197)
(190)
(192)
(188)
(174)
(184)
(180)
(184)
(185)
Income from Continuing Operations
506
223
353
513
643
518
446
408
386
403
457
449
446
451
445
459
2 068
2 090
2 040
2 098
466
461
495
435
414
416
396
390
375
337
336
319
329
320
461
461
493
571
543
624
706
684
657
681
687
739
782
773
735
758
737
737
738
675
683
729
775
870
830
808
803
755
750
736
721
702
735
763
783
790
788
746
738
724
724
736
Income to Minority Interest
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
6
10
15
18
14
11
9
7
8
8
5
4
0
0
0
0
0
0
0
0
0
0
0
Net Income (Common)
506
N/A
223
-56%
353
+58%
513
+45%
643
+25%
518
-20%
446
-14%
408
-9%
386
-5%
403
+4%
457
+13%
449
-2%
446
-1%
451
+1%
445
-1%
459
+3%
2 068
+351%
2 090
+1%
2 040
-2%
2 098
+3%
466
-78%
461
-1%
495
+8%
435
-12%
414
-5%
416
+1%
396
-5%
390
-1%
375
-4%
337
-10%
336
0%
319
-5%
329
+3%
320
-3%
461
+44%
461
+0%
493
+7%
571
+16%
543
-5%
624
+15%
706
+13%
684
-3%
657
-4%
681
+4%
687
+1%
739
+8%
782
+6%
773
-1%
735
-5%
758
+3%
737
-3%
737
0%
738
+0%
680
-8%
693
+2%
744
+7%
793
+7%
884
+12%
842
-5%
817
-3%
811
-1%
763
-6%
758
-1%
740
-2%
725
-2%
704
-3%
735
+4%
763
+4%
783
+3%
790
+1%
788
0%
746
-5%
738
-1%
724
-2%
724
+0%
736
+2%
EPS (Diluted)
1.64
N/A
0.72
-56%
1.14
+58%
1.66
+46%
2.08
+25%
1.68
-19%
1.45
-14%
1.32
-9%
1.25
-5%
1.3
+4%
1.47
+13%
1.45
-1%
1.44
-1%
1.46
+1%
1.44
-1%
1.48
+3%
6.69
+352%
6.75
+1%
6.59
-2%
6.78
+3%
1.51
-78%
1.48
-2%
1.59
+7%
1.39
-13%
1.34
-4%
1.33
-1%
1.27
-5%
1.26
-1%
1.21
-4%
1.1
-9%
1.09
-1%
1.03
-6%
1.06
+3%
1.03
-3%
1.49
+45%
1.49
N/A
1.59
+7%
1.83
+15%
1.74
-5%
2
+15%
2.27
+14%
2.19
-4%
2.12
-3%
2.18
+3%
2.21
+1%
2.38
+8%
2.52
+6%
2.49
-1%
2.37
-5%
2.44
+3%
2.38
-2%
2.38
N/A
2.37
0%
2.19
-8%
2.23
+2%
2.39
+7%
2.56
+7%
2.85
+11%
2.71
-5%
2.64
-3%
2.61
-1%
2.46
-6%
2.44
-1%
2.39
-2%
2.34
-2%
2.27
-3%
2.37
+4%
2.46
+4%
2.53
+3%
2.55
+1%
2.54
0%
2.41
-5%
2.38
-1%
2.34
-2%
2.34
N/A
2.38
+2%

See Also

Summary
Intrinsic value, competitors valuation, and company profile.
DCF Valuation
Stock valuation using Discount Cash Flow valuation method.
Relative Valuation
Stock valuation using valuation multiples.
Wall Street Estimates
Price targets and financial estimates made by Wall st analysts.
Profitability Analysis
Detailed analysis of the company's profitability.
Solvency Analysis
Analysis of the financial position and solvency of the company.
Financials
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
Stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall Street Estimates
Profitability Analysis
Solvency Analysis
Financials
Discount Rate
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