Thai Oil PCLTOIPF 75 Return-on-Tangible-Asset is 17.31% as of Mar. 2026, which is 333% above its 10-year median of 4.00. GuruFocus rates TOIPF with a GF Score™ of 75/100 and a GF Value™ of $1.85 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 1,028 Oil & Gas companies, Thai Oil PCL ranks better than 78.6% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Thai Oil PCL's annualizedNet Income for the quarter that ended in Mar. 2026 was $2,415 Mil. Thai Oil PCL's average total tangible assets for the quarter that ended in Mar. 2026 was $13,954 Mil. Therefore, Thai Oil PCL's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 17.31%.
The historical rank and industry rank for Thai Oil PCL's Return-on-Tangible-Asset or its related term are showing as below:
TOIPF'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -1.14 Med: 4 Max: 11.44
Current: 7.36
During the past 13 years, Thai Oil PCL's highest Return-on-Tangible-Asset was 11.44%. The lowest was -1.14%. And the median was 4.00%.
TOIPF's Return-on-Tangible-Asset is ranked better than 78.6% of 1028
companies
in the Oil & Gas industry
Industry Median: 1.965
vs TOIPF: 7.36
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Thai Oil PCL Return-on-Tangible-Asset Related Terms
Thai Oil PCL Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Thai Oil PCL's Return-on-Tangible-Asset 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 VLO, MPC, PSX: Return-on-Tangible-Asset Comparison
For the Oil & Gas Refining & Marketing subindustry, Thai Oil PCL's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Thai Oil PCL's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Thai Oil PCL's Return-on-Tangible-Asset 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 17.31% mean?
Thai Oil PCL (TOIPF) has a Return-on-Tangible-Asset of 17.31% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Thai Oil PCL and its competitors. This is 333% above median its historical median of 4.00. According to the industry distribution chart, Thai Oil PCL ranks #220 out of 1028 companies in the Oil & Gas industry, placing it in the top 21.4%.
Is Thai Oil PCL's Return-on-Tangible-Asset too high?
Thai Oil PCL's current Return-on-Tangible-Asset of 17.31% is 333% above median its 10-year median of 4.00. The Oil & Gas industry median Return-on-Tangible-Asset is 1.97. Thai Oil PCL's value of 17.31% is 780.9% above this industry median. Based on the distribution chart, Thai Oil PCL ranks #220 out of 1028 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 75/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Thai Oil PCL's Return-on-Tangible-Asset compare to VLO and MPC?
According to the Oil & Gas industry distribution chart, Thai Oil PCL ranks #220 out of 1028 companies for Return-on-Tangible-Asset. This places Thai Oil PCL in the top 21% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 1.97. Thai Oil PCL's value of 17.31% is 780.9% above this benchmark. While the company's 10-year median is 4.00 vs. the industry median of 1.97, 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 Return-on-Tangible-Asset for an Oil & Gas company?
The median Return-on-Tangible-Asset among Oil & Gas companies is 1.97, based on 1,028 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Thai Oil PCL's current Return-on-Tangible-Asset of 17.31% is 780.9% 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Thai Oil PCL and its competitors. For the Oil & Gas industry, the median Return-on-Tangible-Asset is 1.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thai Oil PCL's current Return-on-Tangible-Asset is 17.31%, which is 333% above median its own 10-year median of 4.00. 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?
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 Return-on-Tangible-Asset is 17.31%, which is 333% above median its 10-year median of 4.00 and 780.9% above the Oil & Gas industry median of 1.97. Thai Oil PCL's overall GF Score™ is 75/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Thai Oil PCL (TOIPF), the current Return-on-Tangible-Asset is 17.31% 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 (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:
Return-on-Tangible-Asset: 17.31% (333% above median its 10-year median of 4.00)
GF Value™: $1.85 vs. price of $1.25 (32.4% below fair value)
Industry Position: 780.9% above the Oil & Gas median (#220 of 1028)
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.
75GF Score
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