Thai Oil Public Company Limited (TOP) — Cash Flow-to-Debt Ratio
Thai Oil Public Company Limited (TOP) has a Cash Flow-to-Debt Ratio of 0.11x as of December 2025, meaning its operating cash flow of ฿26.09 Billion could theoretically repay 0% of its total liabilities (฿234.25 Billion) in one year. See how financially flexible is Thai Oil Public Company Limited to measure the company's free cash flow as a share of total liabilities.
CF-to-Debt Ratio
Operating Cash Flow
Total Liabilities
Data as of
Thai Oil Public Company Limited Cash Flow-to-Debt Ratio (2003–2025)
Historical debt coverage capacity for Thai Oil Public Company Limited across 23 annual periods. For the full cash flow conversion analysis, see TOP cash generation efficiency.
Annual Cash Flow-to-Debt Ratio for Thai Oil Public Company Limited (2003–2025)
Year-by-year debt coverage analysis for Thai Oil Public Company Limited. Check how high is Thai Oil Public Company Limited's earnings quality to evaluate the quality of earnings relative to operating cash generation.
| Year | CF-to-Debt Ratio | Operating CF (THB) | Total Liabilities | YoY Change |
|---|---|---|---|---|
| 2025 | 0.21x | ฿48.81 Billion | ฿234.25 Billion | ▲ +28.6% |
| 2024 | 0.16x | ฿39.35 Billion | ฿242.83 Billion | ▲ +45.2% |
| 2023 | 0.11x | ฿28.09 Billion | ฿251.68 Billion | ▼ -26.2% |
| 2022 | 0.15x | ฿43.25 Billion | ฿285.92 Billion | ▲ +244.3% |
| 2021 | 0.04x | ฿10.50 Billion | ฿239.05 Billion | ▲ +235.8% |
| 2020 | 0.01x | ฿2.43 Billion | ฿186.07 Billion | ▼ -84.1% |
| 2019 | 0.08x | ฿13.09 Billion | ฿159.52 Billion | ▼ -36.3% |
| 2018 | 0.13x | ฿18.31 Billion | ฿142.14 Billion | ▼ -62.2% |
| 2017 | 0.34x | ฿34.42 Billion | ฿100.96 Billion | ▲ +56.1% |
| 2016 | 0.22x | ฿23.18 Billion | ฿106.13 Billion | ▼ -34.5% |
| 2015 | 0.33x | ฿31.71 Billion | ฿95.16 Billion | ▲ +44.2% |
| 2014 | 0.23x | ฿24.43 Billion | ฿105.76 Billion | ▲ +62.8% |
| 2013 | 0.14x | ฿16.13 Billion | ฿113.68 Billion | ▼ -50.8% |
| 2012 | 0.29x | ฿23.05 Billion | ฿79.95 Billion | ▲ +14.7% |
| 2011 | 0.25x | ฿17.60 Billion | ฿70.05 Billion | ▲ +29.5% |
| 2010 | 0.19x | ฿13.54 Billion | ฿69.77 Billion | ▼ -16.4% |
| 2009 | 0.23x | ฿15.34 Billion | ฿66.06 Billion | ▲ +90.5% |
| 2008 | 0.12x | ฿8.44 Billion | ฿69.26 Billion | ▼ -65.0% |
| 2007 | 0.35x | ฿22.70 Billion | ฿65.18 Billion | ▲ +0.9% |
| 2006 | 0.35x | ฿17.91 Billion | ฿51.87 Billion | ▼ -3.0% |
| 2005 | 0.36x | ฿20.40 Billion | ฿57.32 Billion | ▲ +56.6% |
| 2004 | 0.23x | ฿14.06 Billion | ฿61.85 Billion | ▲ +16.5% |
| 2003 | 0.20x | ฿12.82 Billion | ฿65.66 Billion | — |