Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

A full service Thai brokerage

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

Equity Bottom-Up

<ul><li>3Q25E profit likely declined QoQ from lower oil sales and slightly higher marketing margin, against solid non-oil business.</li><li>2025–27E profit forecasts is maintained, with 2Y core EPS growth of +14% CAGR, driven by non-oil business.</li><li>The stock trades below FV, with steady 2Y core EPS growth and neutral tactical risk.</li></ul>

3Q25E profit likely declined QoQ from lower oil sales and slightly higher marketing margin, against solid non-oil business.2025–27E profit forecasts is maintained, with 2Y core EPS growth of +14% CAGR, driven by non-oil business.The stock trades below FV, with steady 2Y core EPS growth and neutral tactical risk.

PTG ENERGY Plc. (PTG): 3Q25–2025E Earnings In Line...

PTG Energy PCL

PTG ENERGY Plc. (PTG): 3Q25–2025E Earnings In Line...