Thai Oil Public Company Limited (TOP) - Cash Flow Conversion Efficiency

Latest as of December 2025: 0.135x

Based on the latest financial reports, Thai Oil Public Company Limited (TOP) has a cash flow conversion efficiency ratio of 0.135x as of December 2025. Cash flow conversion efficiency measures how effectively a company's net assets (equity) generate operating cash flow. It is calculated by dividing operating cash flow (฿26.09 Billion ≈ $813.33 Million USD) by net assets (฿193.03 Billion ≈ $6.02 Billion USD). A higher ratio indicates that the company is more efficient at using its equity to generate cash flow from its core operations. See Thai Oil Public Company Limited balance sheet quality to measure how much of total assets are equity-financed.

Thai Oil Public Company Limited - Cash Flow Conversion Efficiency Trend (2003–2025)

This chart illustrates how Thai Oil Public Company Limited's cash flow conversion efficiency has evolved over time, based on yearly financial data. Check Thai Oil Public Company Limited cash earnings quality to evaluate the quality of earnings relative to operating cash generation.

Thai Oil Public Company Limited Competitors by Cash Flow Conversion Efficiency

The table below lists competitors of Thai Oil Public Company Limited ranked by their cash flow conversion efficiency.

Company	Cash Flow Conversion Efficiency
New Hope Liuhe Co Ltd SHE:000876	0.090x
Nice Ltd TA:NICE	0.049x
Axiata Group Bhd KLSE:6888	0.018x
Perseus Mining Limited F:P4Q	0.079x
RadNet Inc NASDAQ:RDNT	0.068x
Guocheng Mining Co Ltd SHE:000688	0.007x
Wacker Chemie AG XETRA:WCH	0.020x
BillionToOne, Inc. Class A Common Stock NASDAQ:BLLN	0.031x

Annual Cash Flow Conversion Efficiency for Thai Oil Public Company Limited (2003–2025)

The table below shows the annual cash flow conversion efficiency of Thai Oil Public Company Limited from 2003 to 2025. For the full company profile with market capitalisation and key ratios, see TOP stock market capitalisation.

Year	Net Assets	Operating Cash Flow	Cash Flow Conversion Efficiency	Change
2025-12-31	฿193.03 Billion ≈ $6.02 Billion	฿48.81 Billion ≈ $1.52 Billion	0.253x	+6.77%
2024-12-31	฿166.18 Billion ≈ $5.18 Billion	฿39.35 Billion ≈ $1.23 Billion	0.237x	+41.91%
2023-12-31	฿168.31 Billion ≈ $5.25 Billion	฿28.09 Billion ≈ $875.47 Million	0.167x	-38.78%
2022-12-31	฿158.66 Billion ≈ $4.95 Billion	฿43.25 Billion ≈ $1.35 Billion	0.273x	+219.47%
2021-12-31	฿123.09 Billion ≈ $3.84 Billion	฿10.50 Billion ≈ $327.39 Million	0.085x	+320.98%
2020-12-31	฿120.12 Billion ≈ $3.74 Billion	฿2.43 Billion ≈ $75.89 Million	0.020x	-80.81%
2019-12-31	฿123.92 Billion ≈ $3.86 Billion	฿13.09 Billion ≈ $407.92 Million	0.106x	-27.07%
2018-12-31	฿126.47 Billion ≈ $3.94 Billion	฿18.31 Billion ≈ $570.80 Million	0.145x	-46.51%
2017-12-31	฿127.15 Billion ≈ $3.96 Billion	฿34.42 Billion ≈ $1.07 Billion	0.271x	+30.31%
2016-12-31	฿111.60 Billion ≈ $3.48 Billion	฿23.18 Billion ≈ $722.55 Million	0.208x	-36.45%
2015-12-31	฿97.01 Billion ≈ $3.02 Billion	฿31.71 Billion ≈ $988.33 Million	0.327x	+16.44%
2014-12-31	฿87.04 Billion ≈ $2.71 Billion	฿24.43 Billion ≈ $761.55 Million	0.281x	+65.03%
2013-12-31	฿94.84 Billion ≈ $2.96 Billion	฿16.13 Billion ≈ $502.80 Million	0.170x	-33.05%
2012-12-31	฿90.72 Billion ≈ $2.83 Billion	฿23.05 Billion ≈ $718.42 Million	0.254x	+22.73%
2011-12-31	฿85.03 Billion ≈ $2.65 Billion	฿17.60 Billion ≈ $548.64 Million	0.207x	+17.51%
2010-12-31	฿76.84 Billion ≈ $2.39 Billion	฿13.54 Billion ≈ $421.90 Million	0.176x	-17.65%
2009-12-31	฿71.69 Billion ≈ $2.23 Billion	฿15.34 Billion ≈ $478.00 Million	0.214x	+61.13%
2008-12-31	฿63.58 Billion ≈ $1.98 Billion	฿8.44 Billion ≈ $263.11 Million	0.133x	-57.96%
2007-12-31	฿71.89 Billion ≈ $2.24 Billion	฿22.70 Billion ≈ $707.61 Million	0.316x	+28.39%
2006-12-31	฿72.81 Billion ≈ $2.27 Billion	฿17.91 Billion ≈ $558.26 Million	0.246x	-19.41%
2005-12-31	฿66.85 Billion ≈ $2.08 Billion	฿20.40 Billion ≈ $635.99 Million	0.305x	+16.31%
2004-12-31	฿53.58 Billion ≈ $1.67 Billion	฿14.06 Billion ≈ $438.19 Million	0.262x	-25.72%
2003-12-31	฿36.28 Billion ≈ $1.13 Billion	฿12.82 Billion ≈ $399.44 Million	0.353x	--

About Thai Oil Public Company Limited

BK:TOP Thailand Oil & Gas Refining & Marketing

Market Cap

$4.58 Billion

฿146.87 Billion THB

Market Cap Rank

#3748 Global

#25 in Thailand

Share Price

฿65.75

Change (1 day)

+4.78%

52-Week Range

฿30.50 - ฿65.75

All Time High

฿83.44