PPL Pakistan Petroleum Limited

Pakistan Petroleum Limited (PPL) financial ratios

Pakistan Petroleum Limited earned a net margin of 36.7% in FY2026 against a five-year average of 34.7% (Oil & Gas Exploration Companies median 49.0%). Return on equity was 13.2%, compared with a sector median of 23.1%. The current ratio stood at 4.53× and debt was 0.3% of equity. Cash took about 882 days to cycle through receivables, inventory and payables.

FY2026 vs the Oil & Gas Exploration Companies median

Gross margin: 63.5%; Sector median 64.7%
Operating margin: 55.0%; Sector median 45.0%
Net margin: 36.7%; Sector median 49.0%
Return on equity (ROE): 13.2%; Sector median 23.1%
Return on assets (ROA): 10.0%; Sector median 15.7%
Current ratio: 4.53×; Sector median 3.59×
Debt to equity: 0.3%; Sector median 0.3%
Asset turnover: 0.27×; Sector median 0.30×
Dividend payout ratio: 23.7%; Sector median 32.9%

Median of the 4 companies in the sector with the figure for their latest fiscal year.

PPL financial ratios (annual) (Rs mn)
Rs mn	FY2026 Jul 2025 – Jun 2026	FY2025 Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 * Jul 2022 – Jun 2023	FY2022 Jul 2021 – Jun 2022	FY2021 Jul 2020 – Jun 2021	FY2020 Jul 2019 – Jun 2020	FY2019 * Jul 2018 – Jun 2019	FY2018 * Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016	FY2015 Jul 2014 – Jun 2015	FY2014 Jul 2013 – Jun 2014	FY2013 Jul 2012 – Jun 2013	FY2012 Jul 2011 – Jun 2012	FY2011 Jul 2010 – Jun 2011	FY2010 Jul 2009 – Jun 2010	FY2009 * Jul 2008 – Jun 2009	FY2008 Jul 2007 – Jun 2008	FY2007 Jul 2006 – Jun 2007
Profitability
Gross margin	63.5%	65.5%	67.4%	68.5%	66.8%	60.6%	60.6%	63.3%	62.1%	58.3%	58.5%	59.7%	66.0%	64.5%	64.0%	66.7%	64.3%	66.5%	64.5%	63.9%
EBITDA margin	62.4%	56.3%	61.6%	62.0%	56.6%	58.5%	55.6%	53.5%	57.3%	53.4%	43.8%	51.2%	61.9%	65.6%	67.2%	67.2%	63.6%	70.3%	69.1%	67.9%
Operating margin	55.0%	49.3%	54.0%	54.7%	48.1%	46.3%	42.1%	40.7%	44.8%	40.4%	29.6%	47.1%	58.7%	57.8%	60.0%	60.9%	57.7%	66.5%	64.5%	63.9%
Pre-tax margin	51.3%	56.0%	55.8%	57.5%	49.8%	45.8%	44.1%	47.4%	50.2%	40.1%	33.3%	50.3%	60.5%	61.0%	67.1%	61.8%	57.6%	68.1%	66.6%	63.5%
Net margin	36.7%	36.7%	39.7%	33.8%	26.7%	35.0%	31.3%	36.2%	36.2%	29.5%	19.9%	36.1%	41.9%	41.0%	42.6%	40.2%	38.9%	45.0%	43.1%	43.7%
Effective tax rate	28.0%	34.2%	27.6%	40.9%	43.9%	23.6%	29.0%	23.6%	28.0%	26.4%	40.3%	28.3%	30.7%	32.9%	36.6%	35.0%	32.5%	33.9%	35.3%	31.2%
Returns
Return on equity (ROE)	13.2%	13.4%	19.5%	19.9%	13.2%	14.3%	15.4%	22.1%	20.1%	17.0%	8.4%	20.7%	30.7%	30.6%	37.4%	36.2%	32.6%	51.9%	47.1%	47.7%
Return on assets (ROA)	10.0%	9.8%	13.5%	13.7%	9.3%	10.1%	10.3%	14.3%	13.2%	11.6%	6.2%	15.8%	22.2%	21.7%	27.8%	27.1%	24.5%	38.5%	35.4%	36.7%
Return on invested capital (ROIC)	13.1%	13.3%	19.5%	19.9%	13.2%	14.3%	15.4%	22.1%	20.1%	17.0%	8.4%	20.6%	30.6%	30.5%	37.4%	35.7%	32.0%	52.0%	47.0%	47.6%
Liquidity
Current ratio	4.53×	4.78×	3.55×	3.32×	3.52×	4.37×	3.96×	2.63×	2.75×	2.94×	3.01×	4.54×	4.06×	2.36×	4.05×	2.94×	3.21×	3.11×	2.79×	4.35×
Quick ratio	4.47×	4.72×	3.52×	3.28×	3.48×	4.31×	3.91×	2.60×	2.70×	2.87×	2.89×	4.37×	3.90×	2.28×	3.95×	2.85×	3.11×	2.98×	2.67×	4.16×
Leverage
Debt to equity	0.3%	0.2%	0.2%	0.2%	0.3%	0.0%	0.0%	0.0%	0.1%	0.1%	0.2%	0.2%	0.2%	0.2%	0.2%	0.2%	3.1%	0.2%	0.3%	0.4%
Debt to capital	0.3%	0.2%	0.2%	0.2%	0.3%	0.0%	0.0%	0.0%	0.1%	0.1%	0.2%	0.2%	0.2%	0.2%	0.2%	0.2%	3.0%	0.2%	0.3%	0.4%
Debt to assets	0.2%	0.2%	0.1%	0.1%	0.2%	0.0%	0.0%	0.0%	0.0%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	2.3%	0.2%	0.2%	0.3%
Assets to equity	1.32×	1.37×	1.45×	1.46×	1.42×	1.41×	1.49×	1.55×	1.53×	1.47×	1.37×	1.31×	1.38×	1.41×	1.35×	1.34×	1.33×	1.35×	1.33×	1.30×
Efficiency
Asset turnover	0.27×	0.27×	0.34×	0.40×	0.35×	0.29×	0.33×	0.39×	0.36×	0.39×	0.31×	0.44×	0.53×	0.53×	0.65×	0.68×	0.63×	0.86×	0.82×	0.84×
Receivable days days	850	889	694	565	591	682	581	423	368	267	305	221	155	173	168	159	178	121	93	82
Inventory days days	35	33	24	23	27	26	21	20	30	31	43	32	28	27	22	27	34	31	35	36
Payable days days	3	6	5	4	4	5	5	13	15	4	6	4	2	2	2	2	7	7	55	128
Cash conversion cycle days	882	917	713	584	613	703	597	430	382	295	343	249	181	198	189	184	204	145	73	(10)
Dividends
Dividend payout ratio	23.7%	22.7%	14.1%	7.0%	10.0%	18.2%	5.5%	7.6%	23.7%	51.1%	70.6%	43.9%	29.1%	21.5%	36.9%	26.6%	32.0%	18.2%	41.4%	26.6%
Earnings retention rate	0.76×	0.77×	0.86×	0.93×	0.90×	0.82×	0.94×	0.92×	0.76×	0.49×	0.29×	0.56×	0.71×	0.79×	0.63×	0.73×	0.68×	0.82×	0.59×	0.73×

Ratios as reported for each fiscal year; returns are on average equity / assets. Debt ratios are percentages; turnover in times; working-capital measures in days.

PPL: frequently asked questions

What is PPL's EPS?

Pakistan Petroleum Limited reported basic earnings per share of Rs 35.90 for FY2026 (Jul 2025 – Jun 2026).

What is PPL's P/E ratio?

At the closing price of Rs 218.87 on 16 Oct 2026, PPL trades at a P/E of 6.1× based on EPS of Rs 35.90 (FY2026).

Does PPL pay dividends?

Yes. Pakistan Petroleum Limited declared a dividend of Rs 12.00 per share for FY2026. It has paid a dividend in each of the last 20 years. At Rs 218.87 that is a dividend yield of 5.5%.

What was PPL's revenue and profit in FY2026?

Pakistan Petroleum Limited reported revenue of Rs 266.3 bn and profit attributable to shareholders of Rs 97.7 bn for FY2026 (Jul 2025 – Jun 2026).

What is PPL's book value per share?

Pakistan Petroleum Limited's book value per share was Rs 285.84 at the end of FY2026. The shares trade at 0.77× book value.

Information only, not investment advice.