Subscribe

Gulf Energy Development Public Company Limited (GULF-R.BK)

THB63.25 -0.25 (-0.39%)
TH SET Utilities Renewable Utilities
Address M .Thai Tower 10330
Bangkok, TH
CEO Sarath Ratanavadi
Website gulf.co.th
IPO 2023-02-22
ISIN THC903010R14

Explore sections of this company profile

Also trades on Stock Exchange of Thailand · GULF-R.BK (THB) Stock Exchange of Thailand · GULF.BK (THB)
Description

Established in 2007 and headquartered in Bangkok, Thailand, Gulf Energy Development Public Company Limited is a diversified energy enterprise. The company is primarily involved in producing and supplying electricity, steam, and chilled water to both public and private sector clients within Thailand and internationally. Its operations are structured across three main divisions: Power Business, Consulting Business, and Infrastructure Business. Gulf Energy generates electricity through various means, including gas-fired, solar, and wind power facilities, participating in Independent Power Producer (IPP), Small Power Producer (SPP), and Very Small Power Producer (VSPP) programs. As of December 31, 2021, the company's total installed power capacity stood at 7,875 megawatts. Beyond power generation, Gulf Energy undertakes a range of infrastructure development projects. This includes producing and distributing electricity from biomass, providing natural gas distribution services, and making strategic investments in digital infrastructure and related service ventures. The company also offers comprehensive services such as the operation, maintenance, and engineering for power plants, alongside solar energy solutions and upkeep. Furthermore, it engages in constructing critical infrastructure, including liquefied natural gas (LNG) receiving terminals, which encompass storage and regasification facilities. Its broader activities extend to general trading, securities investment, and offering managerial, financial, technical, and research support services.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
Loading outlook…
Loading forecast...
Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
Loading risk profile…
Price Chart
Averages
Trend
Price
Levels
Draw
THB63.25 -0.25 (-0.39%)
Loading historical data…
Volume Profile
Loading…
Liquidity & share structure
Average Volume
63M
Beta
1.83
Float Shares
4.47B
Free Float %
29.9%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+1.99% -3.03% +8.47% +13.78% +58.02% +54.22% +49.71% +36.90% +88.24% +619.10% +619.10%
Rolling Volatility
Loading…
Drawdown
Loading…
Relative Strength
Loading…
Monthly Returns Heatmap
From To
Loading…
Annual Monthly Returns
Loading…
Daily Returns Distribution
vs.
Loading histogram data…

Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
63.25
Ratings Trend (MoM) 100% Bullish
Rating 2026-05 Change
Strong Buy 1 0
Buy 0 0
Hold 0 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
2.01
Grey zone
Piotroski F-Score
4 / 9
Average
MOAT Score
4 / 10
Developing
Composite Rating
A-
Overall Score
4 / 5
High
DCF Score
1 / 5
Low
ROE Score
5 / 5
High
ROA Score
5 / 5
High
D/E Score
3 / 5
Medium
P/E Score
4 / 5
High
P/Book Score
2 / 5
Medium
Operational MOAT
✗ Below peers
  • Revenue growth Renewable Utilities: +1.3%
    -18.2% Q1'26: +22.3% (vs Q1'25)
  • EPS growth Renewable Utilities: +6.7%
    +245.2% Q1'26: +32.6% (vs Q1'25)
  • FCF margin FCF growth · Renewable Utilities: +50.4%
    +5.6% Q1'26: -18.8% (vs Q1'25)
  • EBIT margin Renewable Utilities: +22.3%
    +16.2% Q1'26: +18.8% (vs Q1'25)
  • ROIC Renewable Utilities: +3.5%
    +2.3% Q1'26: +3.7% (vs Q1'25)
  • Share dilution Renewable Utilities: +0.0%
    +27.3% Q1'26: +27.3% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Renewable Utilities: 3.24×
    18.37× Q1'26: 11.83× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (1.83) × ERP
WACC = 72% × Ke + 28% × Kd (4.2%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Current price: 63.25
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
13 Rev. Ana.
1 EPS Ana.
Dec 2027
16 Rev. Ana.
1 EPS Ana.
Dec 2028
14 Rev. Ana.
1 EPS Ana.
Revenue
4.35B
est: 3.61B (+20.6%)
17.18B
est: 16.80B (+2.3%)
30.04B
est: 29.31B (+2.5%)
32.83B
est: 31.94B (+2.8%)
47.47B
est: 47.75B (-0.6%)
94.15B
est: 93.51B (+0.7%)
114.05B
est: 112.39B (+1.5%)
120.89B
est: 121.10B (-0.2%)
98.89B
est: 129.85B (-23.8%)
133.38B
123.85B – 143.63B
+2.7% YoY
136.80B
120.38B – 165.66B
+2.6% YoY
98.15B
88.70B – 112.41B
-28.3% YoY
EBITDA
1.67B
est: 1.14B (+46.5%)
4.84B
est: 5.31B (-8.9%)
12.27B
est: 9.26B (+32.5%)
13.04B
est: 10.09B (+29.2%)
19.50B
est: 15.08B (+29.3%)
21.85B
est: 29.54B (-26.0%)
24.39B
est: 35.50B (-31.3%)
39.35B
est: 33.51B (+17.4%)
19.91B
est: 35.93B (-44.6%)
36.91B
34.27B – 39.74B
+2.7% YoY
37.86B
33.31B – 45.84B
+2.6% YoY
27.16B
24.55B – 31.11B
-28.3% YoY
EBIT
106.81M
est: 895.79M (-88.1%)
3.01B
est: 4.17B (-27.8%)
9.83B
est: 7.28B (+35.1%)
9.61B
est: 7.93B (+21.2%)
14.51B
est: 11.86B (+22.4%)
16.78B
est: 23.22B (-27.7%)
20.21B
est: 27.91B (-27.6%)
34.78B
est: 26.89B (+29.3%)
15.97B
est: 28.84B (-44.6%)
29.62B
27.50B – 31.90B
+2.7% YoY
30.38B
26.73B – 36.79B
+2.6% YoY
21.80B
19.70B – 24.96B
-28.3% YoY
Net Income
3.45B
est: 3.33B (+3.8%)
3.03B
est: 3.39B (-10.6%)
7.17B
est: 4.89B (+46.6%)
6.14B
est: 4.56B (+34.8%)
7.67B
est: 7.81B (-1.8%)
11.42B
est: 11.18B (+2.1%)
14.86B
est: 15.54B (-4.4%)
18.17B
est: 23.56B (-22.9%)
80.00B
est: 26.75B (+199.1%)
30.25B
26.46B – 35.96B
+13.1% YoY
33.16B
29.01B – 39.42B
+9.6% YoY
33.62B
29.41B – 39.96B
+1.4% YoY
SGA
957.39M
est: 149.39M (+540.9%)
1.49B
est: 695.59M (+114.1%)
1.71B
est: 1.21B (+41.1%)
2.08B
est: 1.32B (+57.2%)
2.30B
est: 1.98B (+16.2%)
2.95B
est: 3.87B (-23.7%)
3.92B
est: 4.65B (-15.9%)
3.58B
est: 4.36B (-17.9%)
3.58B
est: 4.67B (-23.3%)
4.80B
4.46B – 5.17B
+2.7% YoY
4.92B
4.33B – 5.96B
+2.6% YoY
3.53B
3.19B – 4.05B
-28.3% YoY
EPS
0.32
est: 0.28 (+12.9%)
0.28
est: 0.29 (-3.1%)
0.66
est: 0.42 (+58.5%)
0.56
est: 0.39 (+44.1%)
0.65
est: 0.67 (-2.3%)
0.97
est: 0.95 (+1.8%)
1.27
est: 1.32 (-4.1%)
1.55
est: 1.58 (-1.7%)
5.35
est: 1.79 (+198.8%)
2.02
1.77 – 2.41
+13.1% YoY
2.22
1.94 – 2.64
+9.6% YoY
2.25
1.97 – 2.67
+1.4% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-06-12 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-06-11 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-06-10 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-06-09 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-06-08 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-06-05 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-06-04 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-06-02 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-05-29 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-05-28 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-05-27 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-05-26 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-05-25 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-05-22 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-05-21 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-05-20 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-05-19 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-05-18 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-05-15 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-05-14 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-05-13 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-05-12 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-05-11 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-05-08 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-05-07 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-05-06 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-05-05 A- 4/5 1/5 5/5 5/5 3/5 4/5 2/5
2026-04-30 B+ 3/5 1/5 5/5 5/5 2/5 4/5 2/5
2026-04-29 B+ 3/5 1/5 5/5 5/5 2/5 4/5 2/5
2026-04-28 B+ 3/5 1/5 5/5 5/5 2/5 4/5 2/5
2026-04-27 B+ 3/5 1/5 5/5 5/5 2/5 4/5 2/5
2026-04-24 B+ 3/5 1/5 5/5 5/5 2/5 4/5 2/5
2026-04-23 B+ 3/5 1/5 5/5 5/5 2/5 4/5 2/5
2026-04-22 B+ 3/5 1/5 5/5 5/5 2/5 4/5 2/5
2026-04-21 A- 4/5 1/5 5/5 5/5 2/5 4/5 3/5
2026-04-20 A- 4/5 1/5 5/5 5/5 2/5 4/5 3/5
2026-04-17 A- 4/5 1/5 5/5 5/5 2/5 4/5 3/5
2026-04-16 A- 4/5 1/5 5/5 5/5 2/5 4/5 3/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
22.62B
OE per share TTM
1.51
Owner's Yield
2.37%
Maintenance CapEx ratio
14.71%
Maint CapEx / Avg PPE
141.0%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
17.38M
Shares Outstanding
14.94B

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Boonchai Thirati Deputy Chief Executive Officer & Director male
Bung-On Suttipattanakit Chief Corporate Planning Officer & Director female
Chattawan Jaijakul Company Secretary & Executive Vice President – Corporate Secretary female
Chotiros Likitcharoenpanich Head of Internal Audit female
Olarn Srivalattha Head of Accounting male
Porntipa Chinvetkitvanit Deputy Chief Executive Officer & Director female
Ratthaphol Cheunsomchit President male
Ravi Kurmarohita Deputy Chief Executive Officer male
Sarath Ratanavadi Chief Executive Officer & Vice Chairman male
Yupapin Wangviwat CFO & Director female
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

Share your view on this stock and instantly see how the community has voted over the last 6 months.

These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.

Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits