Thai Oil PCLTOIPF 76 PB Ratio is 0.46 as of Jun. 24, 2026, which is 47% below its 10-year median of 0.87. GuruFocus rates TOIPF with a GF Score™ of 76/100 and a GF Value™ of $1.85 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 923 Oil & Gas companies, Thai Oil PCL ranks better than 88.19% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-06-24), Thai Oil PCL's share price is $1.25. Thai Oil PCL's Book Value per Share for the quarter that ended in Mar. 2026 was $2.70. Hence, Thai Oil PCL's PB Ratio of today is 0.46.
The historical rank and industry rank for Thai Oil PCL's PB Ratio or its related term are showing as below:
TOIPF'
s PB Ratio Range Over the Past 10 Years
Min: 0.31 Med: 0.87 Max: 1.84
Current: 0.52
During the past 13 years, Thai Oil PCL's highest PB Ratio was 1.84. The lowest was 0.31. And the median was 0.87.
TOIPF's PB Ratio is ranked better than 88.19% of 923
companies
in the Oil & Gas industry
Industry Median: 1.44
vs TOIPF: 0.52
During the past 12 months, Thai Oil PCL's average Book Value Per Share Growth Rate was 19.40% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 3.30% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 6.60% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 4.70% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Thai Oil PCL was 20.60% per year. The lowest was -2.30% per year. And the median was 6.10% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Thai Oil PCL PB Ratio Related Terms
Thai Oil PCL PB Ratio Historical Data
* Premium members only.
The historical data trend for Thai Oil PCL's PB Ratio 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.
For the Oil & Gas Refining & Marketing subindustry, Thai Oil PCL's PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Thai Oil PCL's PB Ratio distribution charts can be found below:
* The bar in red indicates where Thai Oil PCL's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
Thai Oil PCL's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Thai Oil PCL (TOIPF) has a PB Ratio of 0.46 as of Jun. 24, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Thai Oil PCL and its competitors. This is 47% below median its historical median of 0.87. Over the past decade, Thai Oil PCL's PB Ratio has ranged from 0.31 to 1.84. According to the industry distribution chart, Thai Oil PCL ranks #109 out of 923 companies in the Oil & Gas industry, placing it in the top 11.8%.
Is Thai Oil PCL's PB Ratio too high?
Thai Oil PCL's current PB Ratio of 0.46 is 47% below median its 10-year median of 0.87. Over the past 10 years, this metric has ranged from a low of 0.31 to a high of 1.84. The Oil & Gas industry median PB Ratio is 1.44. Thai Oil PCL's value of 0.46 is 68.1% below this industry median. Based on the distribution chart, Thai Oil PCL ranks #109 out of 923 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Thai Oil PCL has a GF Score™ of 76/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Thai Oil PCL's PB Ratio compare to VLO and MPC?
According to the Oil & Gas industry distribution chart, Thai Oil PCL ranks #109 out of 923 companies for PB Ratio. This places Thai Oil PCL in the top 12% of its industry — outperforming the majority of peers. The industry median PB Ratio is 1.44. Thai Oil PCL's value of 0.46 is 68.1% below this benchmark. Historically, Thai Oil PCL's own PB Ratio has ranged from 0.31 to 1.84 over the past decade. While the company's 10-year median is 0.87 vs. the industry median of 1.44, Thai Oil PCL has consistently been below 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 PB Ratio for an Oil & Gas company?
The median PB Ratio among Oil & Gas companies is 1.44, based on 923 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Thai Oil PCL's current PB Ratio of 0.46 is 68.1% below 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Thai Oil PCL and its competitors. For the Oil & Gas industry, the median PB Ratio is 1.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thai Oil PCL's current PB Ratio is 0.46, which is 47% below median its own 10-year median of 0.87. 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 (TOIPF) is currently considered Significantly Undervalued. The stock's GF Value™ is $1.85, compared to a current price of $1.25 — trading 32.4% below its estimated fair value. The current PB Ratio is 0.46, which is 47% below median its 10-year median of 0.87 and 68.1% below the Oil & Gas industry median of 1.44. Thai Oil PCL's overall GF Score™ is 76/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Thai Oil PCL (TOIPF), the current PB Ratio is 0.46 as of Jun. 24, 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 undervalued.
The current stock price of $1.25 is trading 32.4% below its estimated GF Value™ of $1.85.
GuruFocus considers Thai Oil PCL to be Significantly Undervalued.
Key valuation signals for TOIPF:
PB Ratio: 0.46 (47% below median its 10-year median of 0.87)
GF Value™: $1.85 vs. price of $1.25 (32.4% below fair value)
Industry Position: 68.1% below the Oil & Gas median (#109 of 923)
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.
76GF Score
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