Thai Oil Public Company Limited (TOP) — Free Cash Flow Generation Index
Thai Oil Public Company Limited (TOP) has a Free Cash Flow Generation Index of 0.84x as of December 2025. Free cash flow of ฿21.80 Billion represents 1% of operating cash flow (฿26.09 Billion). Explore how much does Thai Oil Public Company Limited reinvest in capital to see what proportion of operating cash flow is directed to capital expenditures.
FCF Generation Index
Free Cash Flow
Operating Cash Flow
Capital Expenditures
Thai Oil Public Company Limited Free Cash Flow Generation Index (2003–2025)
Historical FCF Generation Index trend for Thai Oil Public Company Limited across 23 annual periods. For the full cash flow conversion analysis, see Thai Oil Public Company Limited (TOP) cash conversion ratio.
Annual Free Cash Flow Generation for Thai Oil Public Company Limited (2003–2025)
Year-by-year Free Cash Flow Generation Index for Thai Oil Public Company Limited. Check TOP capex plus investments ratio to assess the company's total reinvestment commitment from operating cash flow.
| Year | FCG Index | Free Cash Flow (THB) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.78x | ฿38.11 Billion | ฿48.81 Billion | ฿10.70 Billion | ▲ +3.1% |
| 2024 | 0.76x | ฿29.80 Billion | ฿39.35 Billion | ฿9.56 Billion | ▲ +57.7% |
| 2023 | 0.48x | ฿13.49 Billion | ฿28.09 Billion | ฿14.60 Billion | ▲ +86.4% |
| 2022 | 0.26x | ฿11.14 Billion | ฿43.25 Billion | ฿32.11 Billion | ▲ +110.9% |
| 2021 | -2.37x | ฿-24.93 Billion | ฿10.50 Billion | ฿35.44 Billion | ▲ +87.5% |
| 2020 | -19.00x | ฿-46.26 Billion | ฿2.43 Billion | ฿48.69 Billion | ▼ -1595.8% |
| 2019 | -1.12x | ฿-14.66 Billion | ฿13.09 Billion | ฿27.75 Billion | ▼ -298.8% |
| 2018 | 0.56x | ฿10.32 Billion | ฿18.31 Billion | ฿7.99 Billion | ▼ -35.0% |
| 2017 | 0.87x | ฿29.82 Billion | ฿34.42 Billion | ฿4.60 Billion | ▲ +24.3% |
| 2016 | 0.70x | ฿16.16 Billion | ฿23.18 Billion | ฿7.02 Billion | ▲ +6.3% |
| 2015 | 0.66x | ฿20.80 Billion | ฿31.71 Billion | ฿10.91 Billion | ▲ +183.1% |
| 2014 | 0.23x | ฿5.66 Billion | ฿24.43 Billion | ฿18.77 Billion | ▲ +9.9% |
| 2013 | 0.21x | ฿3.40 Billion | ฿16.13 Billion | ฿12.73 Billion | ▼ -70.7% |
| 2012 | 0.72x | ฿16.58 Billion | ฿23.05 Billion | ฿6.46 Billion | ▼ -6.4% |
| 2011 | 0.77x | ฿13.53 Billion | ฿17.60 Billion | ฿4.07 Billion | ▲ +1.8% |
| 2010 | 0.76x | ฿10.23 Billion | ฿13.54 Billion | ฿3.31 Billion | ▼ -17.0% |
| 2009 | 0.91x | ฿13.96 Billion | ฿15.34 Billion | ฿1.37 Billion | ▲ +412.6% |
| 2008 | 0.18x | ฿1.50 Billion | ฿8.44 Billion | ฿6.94 Billion | ▼ -29.9% |
| 2007 | 0.25x | ฿5.75 Billion | ฿22.70 Billion | ฿16.95 Billion | ▼ -74.6% |
| 2006 | 1.00x | ฿17.90 Billion | ฿17.91 Billion | ฿9.39 Million | ▼ 0.0% |
| 2005 | 1.00x | ฿20.40 Billion | ฿20.40 Billion | ฿8.36 Million | ▲ +0.1% |
| 2004 | 1.00x | ฿14.04 Billion | ฿14.06 Billion | ฿20.14 Million | ▼ -0.1% |
| 2003 | 1.00x | ฿12.82 Billion | ฿12.82 Billion | ฿0.00 | — |