Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Capex-to-Operating-Cash-Flow assesses how much of a company’s cash flow from operations is being devoted to capital expenditure. It’s also useful to distinguish whether the company is capital intensive or not.
Capex-to-Operating-Cash-Flow ratio assesses how much of a company’s Cash Flow from Operations is being devoted to Capital Expenditure. It is a good indicator in terms of how much the company is focused on growth. In general, a high Capex-to-Operating-Cash-Flow ratio indicates that the company is investing more in physical assets and is focused on growth and expansion. Conversely, lower ratio could indicate that a company has reached maturity and is no longer pursuing aggressive growth.
Moreover, the ratio is also useful to distinguish whether the company is capital intensive or not. If the ratio is large, then the company tends to be capital intensive. Lower ratio suggests that it’s a capital-light business. The ratio can be combined with ROIC % to identify whether the company is an asset-light business that has a high return on invested capital. This is one question investors commonly ask to see if a company qualifies as a good company.
Thai Oil PCL Capex-to-Operating-Cash-Flow Related Terms
Thai Oil PCL Capex-to-Operating-Cash-Flow Historical Data
* Premium members only.
The historical data trend for Thai Oil PCL's Capex-to-Operating-Cash-Flow can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
TOIPF vs MPC, VLO, PSX: Capex-to-Operating-Cash-Flow Comparison
For the Oil & Gas Refining & Marketing subindustry, Thai Oil PCL's Capex-to-Operating-Cash-Flow, along with its competitors' market caps and Capex-to-Operating-Cash-Flow data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Thai Oil PCL Capex-to-Operating-Cash-Flow vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Thai Oil PCL's Capex-to-Operating-Cash-Flow distribution charts can be found below:
* The bar in red indicates where Thai Oil PCL's Capex-to-Operating-Cash-Flow falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Capex-to-Operating-Cash-Flow of 0.00 mean?
Thai Oil PCL (TOIPF) has a Capex-to-Operating-Cash-Flow of 0.00 as of Jun. 2026. Capex to Operating Cash Flow ratio assesses how much of a company’s cash flow from operations is being devoted to capital expenditure. View historical data on Thai Oil PCL and its competitors. Over the past decade, Thai Oil PCL's Capex-to-Operating-Cash-Flow has ranged from 0.13 to 20.00. According to the industry distribution chart, Thai Oil PCL ranks #492 out of 656 companies in the Oil & Gas industry, placing it in the top 75%.
Is Thai Oil PCL's Capex-to-Operating-Cash-Flow too high?
Thai Oil PCL's current Capex-to-Operating-Cash-Flow is 0.00. Over the past 10 years, this metric has ranged from a low of 0.13 to a high of 20.00. Based on the distribution chart, Thai Oil PCL ranks #492 out of 656 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, Thai Oil PCL has a GF Score™ of 77/100, reflecting its overall financial health beyond just this single metric.
How does Thai Oil PCL's Capex-to-Operating-Cash-Flow compare to MPC and VLO?
According to the Oil & Gas industry distribution chart, Thai Oil PCL ranks #492 out of 656 companies for Capex-to-Operating-Cash-Flow. This places Thai Oil PCL in the lower half of its industry. The industry median Capex-to-Operating-Cash-Flow is 0.54. Historically, Thai Oil PCL's own Capex-to-Operating-Cash-Flow has ranged from 0.13 to 20.00 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Capex-to-Operating-Cash-Flow for an Oil & Gas company?
The median Capex-to-Operating-Cash-Flow among Oil & Gas companies is 0.54, based on 656 companies in the industry. Companies in the top quartile (top 25%) have a Capex-to-Operating-Cash-Flow significantly above this median, while those in the bottom quartile fall well below. However, Capex-to-Operating-Cash-Flow should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Capex-to-Operating-Cash-Flow mean?
A high Capex-to-Operating-Cash-Flow can signal that a stock is expensive relative to its fundamentals. Capex to Operating Cash Flow ratio assesses how much of a company’s cash flow from operations is being devoted to capital expenditure. View historical data on Thai Oil PCL and its competitors. For the Oil & Gas industry, the median Capex-to-Operating-Cash-Flow is 0.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thai Oil PCL's current Capex-to-Operating-Cash-Flow is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thai Oil PCL stock overvalued right now?
Thai Oil PCL (TOIPF) has a current Capex-to-Operating-Cash-Flow of 0.00. The stock's GF Value™ is $0.90, compared to a current price of $1.25 — trading 38.9% above its estimated fair value. The current Capex-to-Operating-Cash-Flow is 0.00. Thai Oil PCL's overall GF Score™ is 77/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Capex-to-Operating-Cash-Flow calculated?
Capex-to-Operating-Cash-Flow is calculated from a company's financial statements. For Thai Oil PCL (TOIPF), the current Capex-to-Operating-Cash-Flow is 0.00 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Thai Oil PCL (TOIPF) Overvalued in 2026?
Based on GuruFocus' analysis, Thai Oil PCL stock appears to be overvalued.
The current stock price of $1.25 is trading 38.9% above its estimated GF Value™ of $0.90.
Key valuation signals for TOIPF:
Capex-to-Operating-Cash-Flow: 0.00
GF Value™: $0.90 vs. price of $1.25 (38.9% above fair value)
No single metric tells the full story. See the TOIPF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
77GF Score
Get the complete analysis for TOIPF
Capex-to-Operating-Cash-Flow is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TOIPF has been successfully added to your 
