PSO Pakistan State Oil Company Limited

Pakistan State Oil Company Limited (PSO) financial ratios

Pakistan State Oil Company Limited earned a net margin of 1.0% in FY2026 against a five-year average of 1.2% (Oil & Gas Marketing Companies median 1.0%). Return on equity was 9.5%, compared with a sector median of 18.2%. The current ratio stood at 1.29× and debt was 145.2% of equity. Cash took about 83 days to cycle through receivables, inventory and payables.

FY2026 vs the Oil & Gas Marketing Companies median

Gross margin: 4.1%; Sector median 5.4%
Operating margin: 3.4%; Sector median 3.4%
Net margin: 1.0%; Sector median 1.0%
Return on equity (ROE): 9.5%; Sector median 18.2%
Return on assets (ROA): 2.9%; Sector median 2.9%
Current ratio: 1.29×; Sector median 0.97×
Debt to equity: 145.2%; Sector median 54.7%
Asset turnover: 2.94×; Sector median 2.82×
Dividend payout ratio: 18.4%; Sector median 12.8%

Median of the 9 companies in the sector with the figure for their latest fiscal year.

PSO 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	4.1%	2.9%	3.0%	2.4%	7.0%	4.7%	0.6%	2.8%	3.8%	4.2%	3.3%	2.6%	3.1%	3.1%	3.4%	4.2%	3.9%	0.5%	6.1%	3.5%
EBITDA margin	3.6%	2.7%	2.9%	2.2%	6.9%	4.9%	0.5%	3.1%	3.2%	4.0%	3.6%	2.7%	3.7%	2.6%	2.6%	3.2%	4.0%	(0.1%)	5.1%	2.7%
Operating margin	3.4%	2.5%	2.8%	2.1%	6.8%	4.6%	0.1%	2.9%	3.1%	3.9%	3.4%	2.6%	3.6%	2.4%	2.5%	3.1%	3.8%	(0.3%)	4.8%	2.4%
Pre-tax margin	2.2%	1.0%	0.9%	0.9%	6.3%	3.6%	(1.2%)	1.8%	2.5%	3.3%	2.3%	1.3%	2.7%	1.7%	1.3%	2.1%	2.3%	(1.9%)	4.3%	1.9%
Net margin	1.0%	0.4%	0.5%	0.3%	3.8%	2.4%	(1.3%)	1.3%	1.5%	2.1%	1.5%	0.8%	1.8%	1.1%	0.9%	1.8%	0.5%	(0.3%)	2.8%	1.3%
Effective tax rate	55.9%	57.7%	47.7%	65.3%	40.6%	34.8%	—	31.5%	43.7%	38.7%	38.4%	43.7%	34.4%	35.3%	35.0%	18.3%	79.9%	—	34.7%	35.9%
Returns
Return on equity (ROE)	9.5%	6.6%	7.8%	4.2%	50.6%	23.3%	(9.4%)	12.3%	14.5%	18.7%	11.8%	8.6%	31.3%	22.9%	19.7%	41.5%	16.0%	(8.0%)	54.2%	22.4%
Return on assets (ROA)	2.9%	1.3%	1.8%	1.0%	13.9%	7.5%	(3.6%)	3.5%	3.9%	5.0%	3.0%	1.9%	6.7%	4.0%	3.0%	6.4%	2.3%	(1.5%)	13.9%	6.5%
Return on invested capital (ROIC)	5.3%	4.5%	6.5%	4.4%	30.1%	17.4%	—	8.8%	8.2%	10.0%	7.0%	6.9%	20.7%	18.1%	13.3%	44.8%	10.7%	—	40.4%	18.0%
Liquidity
Current ratio	1.29×	1.25×	1.24×	1.22×	1.24×	1.33×	1.25×	1.27×	1.32×	1.31×	1.12×	1.10×	1.09×	1.03×	1.15×	1.16×	1.14×	1.07×	1.24×	1.22×
Quick ratio	0.91×	0.91×	0.83×	0.81×	0.74×	0.98×	0.98×	0.95×	1.03×	1.07×	0.91×	0.87×	0.79×	0.54×	0.85×	0.72×	0.79×	0.75×	1.23×	0.64×
Leverage
Debt to equity	145.2%	149.8%	175.4%	198.8%	79.9%	55.6%	77.0%	98.1%	81.3%	126.9%	114.8%	124.0%	117.4%	28.5%	92.9%	59.4%	45.4%	89.4%	35.5%	43.3%
Debt to capital	59.2%	60.0%	63.7%	66.5%	44.4%	35.7%	43.5%	49.5%	44.9%	55.9%	53.4%	55.4%	54.0%	22.2%	48.2%	37.3%	31.2%	47.2%	26.2%	30.2%
Debt to assets	38.7%	36.0%	41.4%	43.3%	18.8%	19.1%	23.5%	27.8%	22.3%	33.3%	30.7%	29.9%	24.8%	6.1%	13.4%	9.5%	6.6%	12.2%	8.7%	12.1%
Assets to equity	3.95×	4.20×	4.41×	4.43×	3.73×	3.07×	3.41×	3.58×	3.73×	3.78×	3.93×	4.43×	4.70×	5.69×	6.64×	6.53×	7.08×	5.41×	3.89×	3.47×
Efficiency
Asset turnover	2.94×	3.07×	3.51×	3.48×	3.68×	3.11×	2.71×	2.77×	2.66×	2.39×	1.98×	2.56×	3.63×	3.50×	3.36×	3.53×	4.18×	4.37×	4.91×	4.83×
Receivable days days	71	69	61	57	53	72	85	89	93	96	115	83	48	59	71	64	56	43	29	29
Inventory days days	34	34	33	37	35	24	27	29	27	26	31	30	31	33	34	36	26	12	12	31
Payable days days	22	27	22	32	38	26	31	36	35	32	42	43	42	57	63	63	56	53	45	32
Cash conversion cycle days	83	76	72	62	50	70	81	82	85	90	103	70	37	36	42	36	25	2	(3)	29
Dividends
Dividend payout ratio	18.4%	28.5%	19.2%	37.8%	5.1%	8.0%	—	41.0%	21.1%	22.4%	19.8%	39.2%	9.5%	9.0%	10.4%	11.6%	21.4%	—	28.7%	76.9%
Earnings retention rate	0.82×	0.71×	0.81×	0.62×	0.95×	0.92×	—	0.59×	0.79×	0.78×	0.80×	0.61×	0.90×	0.91×	0.90×	0.88×	0.79×	—	0.71×	0.23×

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.

PSO: frequently asked questions

What is PSO's EPS?

Pakistan State Oil Company Limited reported basic earnings per share of Rs 54.29 for FY2026 (Jul 2025 – Jun 2026).

What is PSO's P/E ratio?

At the closing price of Rs 368.33 on 16 Oct 2026, PSO trades at a P/E of 6.8× based on EPS of Rs 54.29 (FY2026).

Does PSO pay dividends?

Yes. Pakistan State Oil Company Limited declared a dividend of Rs 10.00 per share for FY2026. It has paid a dividend in each of the last 6 years. At Rs 368.33 that is a dividend yield of 2.7%.

What was PSO's revenue and profit in FY2026?

Pakistan State Oil Company Limited reported revenue of Rs 3.21 tn and profit attributable to shareholders of Rs 25.5 bn for FY2026 (Jul 2025 – Jun 2026).

What is PSO's book value per share?

Pakistan State Oil Company Limited's book value per share was Rs 592.35 at the end of FY2026. The shares trade at 0.62× book value.

Information only, not investment advice.