6 brokerages expect CPALL net profit in Q3 2026 to reach 6.3 billion baht

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Analysts at six brokerages estimate that CP All Public Company Limited, or CPALL, the operator of 7-Eleven convenience stores and a major shareholder of CP Axtra Public Company Limited, or CPAXT, will report net profit for the third quarter of 2026 in the range of 5.65 billion to 6.3 billion baht, declining both year-on-year and quarter-on-quarter, due to the impact of special expenses from portfolio adjustments and the closure of unprofitable CPAXT branches. Core profit is expected at 6.85 billion to 7.09 billion baht, growing 6 to 10 percent year-on-year, supported by same-store sales at 7-Eleven rising 2 to 2.5 percent on tourist spending, promotions, and stockpiling purchases during flooding, as well as continued branch expansion and a higher share of high-margin products. Bualuang Securities expects core profit of 7 billion baht and sets a target price of 62 baht for the end of 2027. Phillip Securities expects normal profit of 7.081 billion baht and has cut its base price to 58.75 baht. Krungsri Securities expects normal profit of 7.09 billion baht with a target of 66 baht. Asia Plus Securities expects net profit of 5.65 billion baht and has cut its target to 52.50 baht. KGI Securities expects net profit of 6.3 billion baht with a target of 58 baht, and Pi Securities expects normal profit of 7 billion baht with a base value of 61 baht. All six maintain a buy recommendation and expect profit in the fourth quarter of 2026 to return to growth on the seasonal year-end shopping period and the recovery of CPAXT.

Impact on assets 4

Financials▲
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CP ALL Public Company Limited
CPALL
± MixedCapitalrelevance

Six brokerages estimate Q3 2026 net profit of 5.65-6.3bn baht, down YoY and QoQ on special expenses and CPAXT branch closures, while core profit grows 6-10% on 7-Eleven same-store sales; all maintain buy with mixed target prices.

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Off-coverage companies 4

Bualuang Securities Public Company Limitedi
Private± Mixedrelevance

Krungsri Securities Public Company Limitedi
Private± Mixedrelevance

Phillip Securities (Thailand) Public Company Limitedi
Private± Mixedrelevance

Pi Securities Public Company Limitedi
Private± Mixedrelevance