Pak Tobacco vs Packages vs Pak Elektron: Stocks 2026
On 3 November 2026 prices, Pakistan Tobacco scores best on our scorecard: it earns 72% on its book value, grew nine-month profit 23% and has declared Rs 155 a share in the last year, a 10.3% yield. Pak Elektron is the cheapest, at 7.1 times earnings and 0.57 times book, but pays no dividend. Packages carries the most debt.
Key takeaways
- Pakistan Tobacco scores 10 on our six-measure scorecard (lower is better), Pak Elektron 12 and Packages 14.
- Pakistan Tobacco's nine-month profit rose 23% to Rs 30.17 billion and it declared a Rs 50 interim dividend, its fourth payment this year.
- Packages swung to a nine-month profit of Rs 6.54 billion from Rs 1.40 billion, but its July to September profit fell 38%.
- Pak Elektron's nine-month profit rose 9% to Rs 3.33 billion; it declared no dividend.
- Packages' net debt is 1.4 times its equity; Pakistan Tobacco holds more cash than debt.
PSX retail investor
M Zubair is a retail investor on the Pakistan Stock Exchange. He writes SeekhKar's guides to explain the basics of investing, such as reading annual reports, P/E ratios, dividends and valuation, in simple language for new PSX investors. Everything here is for learning, not investment advice.
Pak Tobacco vs Packages vs Pak Elektron: Valuation at a Glance
Pakistan Tobacco (PAKT), Packages (PKGS) and Pak Elektron (PAEL) sit in the KSE-100's "miscellaneous" group, outside the large sectors we have compared. Pakistan Tobacco makes cigarettes; Packages makes packaging and also holds stakes in other companies; Pak Elektron makes PEL fridges, air conditioners and electrical equipment. All three end their year on 31 December. Prices are PSX closing prices on 3 November 2026.
Earnings are trailing twelve months (TTM) to 30 September 2026: 9M 2026 EPS plus October to December 2025. Dividends are those declared in the last twelve months.
| Metric | PAKT | PKGS | PAEL |
|---|---|---|---|
| Share price, 3 Nov 2026 | Rs 1,499.22 | Rs 620.77 | Rs 31.91 |
| Market capitalisation | Rs 383 bn | Rs 55 bn | Rs 30 bn |
| EPS, TTM | Rs 138.98 | Rs 31.83 | Rs 4.47 |
| P/E, TTM | 10.8x | 19.5x | 7.1x |
| Book value per share, 30 Jun 2026 | Rs 194.28 | Rs 778.67 | Rs 56.24 |
| P/B | 7.72x | 0.80x | 0.57x |
| ROE (TTM EPS ÷ book value) | 71.5% | 4.1% | 7.9% |
| Dividends, last 12 months | Rs 155 | Rs 16 | None |
| Dividend yield | 10.3% | 2.6% | 0% |
| Profit growth, 9M 2026 | +23% | +365% | +9% |
| Net debt ÷ equity, 30 Jun 2026 | −0.11x | 1.44x | 0.28x |
Packages' figures are consolidated; its 9M 2025 EPS was a loss of Rs 2.88, so profit growth is shown on total profit. Its debt is compared with total group equity. Book values, debt and cash are from S&P Global data; a negative net debt figure means more cash than debt.
Which Stock Is Cheapest?
Pak Elektron, on every price measure. It trades at 7.1 times trailing earnings and 0.57 times book value. The catch is that it earns only 7.9% on its book and pays no dividend.
Pakistan Tobacco looks expensive on book value, at 7.7 times, because it has paid out more than it earned in the last twelve months and keeps little equity, which also gives it a 72% ROE. On earnings it costs 10.8 times. Packages trades below book, at 0.8 times, but its trailing EPS is held down by a loss in October to December 2025, so its P/E of 19.5 is high. Our guide to P/E ratios by sector explains how a single bad quarter distorts a P/E.
Latest Results: 9M 2026
| Nine months to 30 Sep | Net sales, 2026 | 2025 | Profit after tax, 2026 | 2025 | Change |
|---|---|---|---|---|---|
| Pakistan Tobacco | Rs 125.62 bn | Rs 102.55 bn | Rs 30.17 bn | Rs 24.52 bn | +23% |
| Packages | Rs 160.45 bn | Rs 149.04 bn | Rs 6.54 bn | Rs 1.40 bn | +365% |
| Pak Elektron | n/a | n/a | Rs 3.33 bn | Rs 3.05 bn | +9% |
- Pakistan Tobacco: net turnover and gross profit both rose 23%, on stronger domestic sales. Selling and distribution costs rose 41%.
- Packages: sales rose 8% and gross profit 20%, and other income, investment income and its share of associates' profit all rose. But its July to September profit fell 38% to Rs 1.09 billion.
- Pak Elektron: nine-month profit rose 9.2% to Rs 3.33 billion (EPS Rs 3.61). Its sales figures were not in our sources.
Dividend History and Yield
- Pakistan Tobacco pays several times a year. In 2026 it paid Rs 35 (March), Rs 35 (May) and Rs 35 (August) and declared Rs 50 on 27 October: Rs 155 in all, a 10.3% yield, or 8.8% after the 15% tax for filers. In 2025 it paid Rs 150 in five payments. Its payouts are larger than its trailing earnings.
- Packages pays once a year: Rs 15 (April 2025) and Rs 16 (April 2026), a 2.6% yield.
- Pak Elektron declared no dividend with its nine-month results, and KseAlert shows none in the last twelve months.
At 3 November prices, Rs 100,000 in Pakistan Tobacco would earn about Rs 8,800 a year after tax at its last-twelve-month payout. The dividend calculator works this out for any stock and amount.
Scorecard: Which Stock?
We ranked the three companies 1 (best) to 3 on six measures, with equal weight. A lower total is better.
| Company | P/E | P/B | Dividend yield | ROE | Profit growth | Debt | Total |
|---|---|---|---|---|---|---|---|
| Pakistan Tobacco | 2 | 3 | 1 | 1 | 2 | 1 | 10 |
| Pak Elektron | 1 | 1 | 3 | 2 | 3 | 2 | 12 |
| Packages | 3 | 2 | 2 | 3 | 1 | 3 | 14 |
- Income: Pakistan Tobacco. A 10.3% yield, a 72% ROE and net cash. The risks are a payout larger than earnings and a business exposed to tobacco taxes.
- Cheapest: Pak Elektron. The lowest P/E and P/B. The risks are a low ROE and no dividend.
- Recovery: Packages. Back to profit and below book value. The risks are heavy debt and a weaker third quarter.
Our miscellaneous sector guide covers the other companies in this group. This comparison is educational and is not a recommendation to buy or sell any stock. Prices change daily, and we update these figures after each quarterly result.