Added to YB: 2026-08-25
Pitch date: 2026-08-22
PETG.VI [neutral]
Petrol d.d.
Author Info
No bio for this author
Company Info
Petrol d.d., through its subsidiaries, sells petroleum and other energy products, merchandise and services, and energy and solutions in Slovenia, Croatia, Austria, Bosnia, Herzegovina, Serbia, Montenegro, Romania, Macedonia, and internationally.
Market Cap
EUR 2.6B
Pitch Price
N/A
Price Target
N/A
Dividend
3.30%
EV/EBITDA
10.25
P/E
17.29
EV/Sales
0.49
Sector
Specialty Retail
Category
value
Petrol d.d. (LJSE: PETG): You pay for it all
PETG.VI (pass): Slovenian gas station leader (598 stations) at 17x TTM PE, run mostly on multiple expansion. Bear case: govt-dictated pump margins (constant regulatory flip-flop SI/HR), poor disclosure, value-destructive RES/EV pivot with no moat, bleak terminal value. Even Upside case (full deregulation) only reaches today's €2.6bn mkt cap; Base fair value €1.8bn (stock 44% above). Lawsuit upside €340m net (13% mkt cap) not priced in base. 3.9% yield. Not a buy; consider selling.
Read full article (20 min)