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Stocks in the news (PTTGC, PTTEP, STECON, WHA) 10.02.26

📊 PTTGC Company Background

PTT Global Chemical Public Company Limited (PTTGC) is Thailand’s largest integrated petrochemical and refining company, combining upstream olefins and aromatics with refinery operations and expanding into bio-based and performance chemicals to serve industrial customers domestically and internationally.

Market Cap (THB): ~110.0B (approximate, large-cap range as of early 2026)
Market Cap (USD): ~US$3.5B (at ~THB 31/USD, approximate)
Current Price: THB 25.50 (approx., latest range early February 2026)
52-Week Range: THB 14.20-28.75
P/E Ratio: n.m. (loss-making on TTM basis; negative EPS)
P/BV: ~0.3-0.4x (approximate valuation range vs. SET factsheet)
Dividend Yield: ~2.0-2.5% (TTM, based on THB 0.50/share dividend)
Avg Daily Value: THB 250M-350M (active large-cap, approximate)
YTD Performance 2026: +5-10% (approximate, from late-2025 close to early-Feb 2026)
[1][2][3][4][5][6][7][8][9][10] View full analysis →

PTTGC 4Q25 net loss came in at THB5.5bn (weaker y/y but stronger q/q), hit by maintenance shutdown and inventory loss – GRM and aromatics P2F came in at $7.9/bbl (+114% y/y, +41% q/q) and USD193/t (+4% y/y, +8% q/q). 1Q26F to be supported by full utilisation rate of refinery and aromatics where healthy margins are supported by seasonal demand.

Comment: Waiting and waiting for the world to change. 

📊 PTTEP Company Background

PTT Exploration and Production Public Company Limited (PTTEP) is the upstream petroleum flagship of PTT Group, engaged in exploration, development, and production of oil and gas assets in Thailand and abroad to support national energy security and long-term reserve growth.

Market Cap (THB): ~440.0B (approximate, based on recent trading levels)
Market Cap (USD): ~US$14.2B (at ~THB 31/USD, approximate)
Current Price: THB 127.0 (approx., recent trading around February 2026)
52-Week Range: THB 93.00-133.00
P/E Ratio: ~6.5x (TTM)
P/BV: ~1.0-1.2x (approximate range for PTTEP in early 2026, based on typical SET valuation levels)
Dividend Yield: ~8.0-8.5% (latest indicated, high-yield upstream energy)
Avg Daily Value: THB 800M-1.0B (very active large-cap, approximate)
YTD Performance 2026: +3-8% (approximate, from 31 Dec 2025 close to latest 2026 price)
[11][12][13][14] View full analysis →

PTTEP 4Q25 Net Profit beats at THB17.50bn (-4% y/y, +38% q/q), lifted by one-time bargaining gain and non-recurring gains – Softer core operation hit by high unit cost from operating expenses where ASP came in at $42.55/boe (-7% y/y, -1% q/q), pays Bt4.65 dps, XD Feb 23. 

Comment: Yum yum 

📊 STECON Company Background

Stecon Group Public Company Limited (STECON) operates as a construction and engineering group, focusing on large-scale infrastructure, civil works, and industrial projects in Thailand, while also acting as a holding company for related construction and services businesses.

Market Cap (THB): ~13.5B (as of early 2026)
Market Cap (USD): ~US$0.4B (at ~THB 31/USD, approximate)
Current Price: THB 8.80-9.50 (approx., latest range early February 2026)
52-Week Range: THB 3.38-9.70
P/E Ratio: n.m. on trailing basis; turning profitable with forward P/E low double-digits (approx.)
P/BV: ~0.6x (around book value discount)
Dividend Yield: ~1.5-2.5% (based on recent THB 0.15/share dividend)
Avg Daily Value: THB 50M-120M (mid-cap contractor, approximate)
YTD Performance 2026: +15-25% (approximate, strong rebound from late-2025 levels)
[15][16][17][18][19] View full analysis →

STECON eyes 4-5% FY revenue growth target driven by Bt110b backlog pending to realize, tailwind from data center project from private sector, mulls bidding for additional infra project after new government is formed.

Comment: Are they going to win the contract for an upcoming land-bridge contract in the South?

📊 WHA Company Background

WHA Corporation Public Company Limited (WHA) is a leading integrated industrial and logistics developer in Thailand, providing one-stop solutions across industrial estates, warehouses, utilities, and digital platforms to support manufacturing relocation and long-term supply-chain needs.

Market Cap (THB): ~49.9B (as of early February 2026)
Market Cap (USD): ~US$1.6B (at ~THB 31/USD, approximate)
Current Price: THB 3.30-3.40 (approx., implied from recent market cap and paid-up shares)
52-Week Range: THB 2.70-3.60 (approximate range, mid-cap property developer)
P/E Ratio: ~11-12x (TTM, typical for WHA in early 2026)
P/BV: ~1.3-1.5x (approximate)
Dividend Yield: ~5.5-6.5% (latest indicated, high-yield industrial developer)
Avg Daily Value: THB 300M-500M (active mid-cap, approximate)
YTD Performance 2026: +0-5% (approximate, modest gain from 2025 year-end)
[20][21][22][23][24][25][26][27] View full analysis →

WHA mulls revising FY26 target from increase of longevity of the government following Bhumjaithai landslide victory, expects FDI jumps improvement of political stability.

Comment: Yes, this could be the first government since 2001-2005 that will complete it’s term.

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