Thai Oil PCLTOIPY 78 Operating Margin % is 25.19% as of Mar. 2026, which is 410% above its 10-year median of 4.94. GuruFocus rates TOIPY with a GF Score™ of 78/100 and a GF Value™ of $13.59 (Fairly Valued). The stock has 3 warning signs investors should review. Among 916 Oil & Gas companies, Thai Oil PCL ranks better than 55.13% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. Thai Oil PCL's Operating Income for the
three
months ended in Mar. 2026 was $896 Mil. Thai Oil PCL's Revenue for the
three
months ended in Mar. 2026 was $3,559 Mil. Therefore, Thai Oil PCL's Operating Margin % for the quarter that ended in Mar. 2026 was 25.19%.
The historical rank and industry rank for Thai Oil PCL's Operating Margin % or its related term are showing as below:
TOIPY'
s Operating Margin % Range Over the Past 10 Years
Min: -4.13 Med: 4.94 Max: 9.13
Current: 8.49
TOIPY's Operating Margin % is ranked better than 55.13% of 916
companies
in the Oil & Gas industry
Industry Median: 6.86
vs TOIPY: 8.49
Thai Oil PCL's 5-Year Average Operating Margin % Growth Rate was 0.00% per year.
Thai Oil PCL's Operating Income for the
three
months ended in Mar. 2026 was $896 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $1,064 Mil.
Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.
Be Aware
Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokias Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
Thai Oil PCL Operating Margin % Related Terms
Thai Oil PCL Operating Margin % Historical Data
* Premium members only.
The historical data trend for Thai Oil PCL's Operating Margin % 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.
TOIPY vs VLO, MPC, PSX: Operating Margin % Comparison
For the Oil & Gas Refining & Marketing subindustry, Thai Oil PCL's Operating Margin %, along with its competitors' market caps and Operating Margin % 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 Operating Margin % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Thai Oil PCL's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Thai Oil PCL's Operating Margin % falls into.
Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.
Thai Oil PCL's Operating Margin % for the fiscal year that ended in Dec. 2025 is calculated as
* 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.
Thai Oil PCL (TOIPY) has a Operating Margin % of 25.19% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Thai Oil PCL and its competitors. This is 410% above median its historical median of 4.94. According to the industry distribution chart, Thai Oil PCL ranks #411 out of 916 companies in the Oil & Gas industry, placing it in the top 44.9%.
Is Thai Oil PCL's Operating Margin % too high?
Thai Oil PCL's current Operating Margin % of 25.19% is 410% above median its 10-year median of 4.94. The Oil & Gas industry median Operating Margin % is 6.86. Thai Oil PCL's value of 25.19% is 267.2% above this industry median. Based on the distribution chart, Thai Oil PCL ranks #411 out of 916 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Thai Oil PCL has a GF Score™ of 78/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Thai Oil PCL's Operating Margin % compare to VLO and MPC?
According to the Oil & Gas industry distribution chart, Thai Oil PCL ranks #411 out of 916 companies for Operating Margin %. This puts Thai Oil PCL in the upper half of its industry. The industry median Operating Margin % is 6.86. Thai Oil PCL's value of 25.19% is 267.2% above this benchmark. While the company's 10-year median is 4.94 vs. the industry median of 6.86, Thai Oil PCL has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Margin % for an Oil & Gas company?
The median Operating Margin % among Oil & Gas companies is 6.86, based on 916 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Thai Oil PCL's current Operating Margin % of 25.19% is 267.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on Thai Oil PCL and its competitors. For the Oil & Gas industry, the median Operating Margin % is 6.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thai Oil PCL's current Operating Margin % is 25.19%, which is 410% above median its own 10-year median of 4.94. 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?
Based on GuruFocus' analysis, Thai Oil PCL (TOIPY) is currently considered Fairly Valued. The stock's GF Value™ is $13.59, compared to a current price of $14.40 — trading 6% above its estimated fair value. The current Operating Margin % is 25.19%, which is 410% above median its 10-year median of 4.94 and 267.2% above the Oil & Gas industry median of 6.86. Thai Oil PCL's overall GF Score™ is 78/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For Thai Oil PCL (TOIPY), the current Operating Margin % is 25.19% as of Mar. 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 (TOIPY) Overvalued in 2026?
Based on GuruFocus' analysis, Thai Oil PCL stock appears to be overvalued.
The current stock price of $14.40 is trading 6% above its estimated GF Value™ of $13.59.
GuruFocus considers Thai Oil PCL to be Fairly Valued.
Key valuation signals for TOIPY:
Operating Margin %: 25.19% (410% above median its 10-year median of 4.94)
GF Value™: $13.59 vs. price of $14.40 (6% above fair value)
Industry Position: 267.2% above the Oil & Gas median (#411 of 916)
No single metric tells the full story. See the TOIPY 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.
78GF Score
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