S

Star Petroleum Refining PCL
SET:SPRC

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Star Petroleum Refining PCL
SET:SPRC
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Price: 6.85 THB -2.84% Market Closed
Market Cap: ฿29.7B

EV/EBITDA

5.4
Current
8%
Cheaper
vs 3-y median of 5.8

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
5.4
=
Enterprise Value
฿35.7B
/
EBITDA
฿6B

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
5.4
=
Enterprise Value
฿35.7B
/
EBITDA
฿6B

Valuation Scenarios

Star Petroleum Refining PCL is trading below its 3-year average

If EV/EBITDA returns to its 3-Year Average (5.8), the stock would be worth ฿7.44 (9% upside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-14%
Maximum Upside
+60%
Average Upside
13%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 5.4 ฿6.85
0%
3-Year Average 5.8 ฿7.44
+9%
5-Year Average 5.3 ฿6.76
-1%
Industry Average 4.6 ฿5.87
-14%
Country Average 8.6 ฿10.99
+60%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
฿35.7B
/
Jan 2026
฿6B
=
5.4
Current
฿35.7B
/
Dec 2026
฿7B
=
5.1
Forward
฿35.7B
/
Dec 2027
฿8.3B
=
4.3
Forward
฿35.7B
/
Dec 2028
฿8.8B
=
4
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
TH
Star Petroleum Refining PCL
SET:SPRC
29.7B THB 5.4 11.6
JP
Fuji Oil Co Ltd
F:ACK
77.2T EUR -5 092 092.2 -1 805 607.9
IN
Reliance Industries Ltd
NSE:RELIANCE
19.1T INR 11 23.2
US
Valero Energy Corp
NYSE:VLO
72.3B USD 10.2 31
US
Phillips 66
NYSE:PSX
73.9B USD 12 16.9
US
Marathon Petroleum Corp
NYSE:MPC
72B USD 8.6 17.8
PL
Polski Koncern Naftowy Orlen SA
WSE:PKN
148.1B PLN 3.9 13.5
PL
Orlen SA
PSE:PKN
836B CZK 3.7 12.9
FI
Neste Oyj
OMXH:NESTE
21.1B EUR 17.9 152.7
JP
ENEOS Holdings Inc
TSE:5020
3.6T JPY 11.5 19.6
IN
Indian Oil Corporation Ltd
NSE:IOC
1.9T INR 3.5 5.3
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
TH
S
Star Petroleum Refining PCL
SET:SPRC
Average EV/EBITDA: 8.8
5.4
13%
0.4
JP
Fuji Oil Co Ltd
F:ACK
Negative Multiple: -5 092 092.2
72%
N/A
IN
Reliance Industries Ltd
NSE:RELIANCE
11
12%
0.9
US
Valero Energy Corp
NYSE:VLO
10.2
6%
1.7
US
Phillips 66
NYSE:PSX
12
10%
1.2
US
Marathon Petroleum Corp
NYSE:MPC
8.6
3%
2.9
PL
Polski Koncern Naftowy Orlen SA
WSE:PKN
3.9
-2%
N/A
PL
O
Orlen SA
PSE:PKN
3.7
-2%
N/A
FI
Neste Oyj
OMXH:NESTE
17.9
25%
0.7
JP
ENEOS Holdings Inc
TSE:5020
11.5
11%
1
IN
Indian Oil Corporation Ltd
NSE:IOC
3.5
17%
0.2

Market Distribution

Lower than 78% of companies in Thailand
Percentile
22st
Based on 406 companies
22st percentile
5.4
Low
0.2 — 6.6
Typical Range
6.6 — 11.4
High
11.4 —
Distribution Statistics
Thailand
Min 0.2
30th Percentile 6.6
Median 8.6
70th Percentile 11.4
Max 3 584.8

Star Petroleum Refining PCL
Glance View

Market Cap
29.7B THB
Industry
Energy

Star Petroleum Refining Public Company Limited is a Thailand-based company engaged in the construction and operation. The Company produces petroleum products in Thailand for both domestic and export markets, utilizing the same assets. The Company sells petroleum products to customers, which includes Liquefied Petroleum Gas (LPG), gasoline, jet fuel, diesel, fuel oil, asphalt, and other products to customers through vessel, truck and pipeline.

SPRC Intrinsic Value
23 THB
Undervaluation 70%
Intrinsic Value
Price
S
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