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Description
Gulf Development Public Company Limited generates and sells electricity and steam to public and private clients in Thailand and internationally.
Business Segments
The company operates through four distinct reportable segments: Power business, Consu…
Analysis
Hope premium
Gulf Development Public Company Limited is priced well ahead of what the underlying numbers justify, a pattern we describe as a hope premium. Worth noting: the cash the business generates has lagged behind what the income statement shows.
On valuation, the picture is attractive. The owner-earnings multiple stands at 13.2×; owner earnings: the cash an owner could take out each year. The implied growth embedded in that price is around 1% a year, against analyst forecasts of 11%. The price, in other words, assumes less than the experts do.
Growth is solid; the safety picture is adequate. The company scores 16/20 on our value-creation score: strong value creator. Analysts lean positive.
Flags to be aware of: Some accounting patterns deserve a closer look. The financial cushion is thinner than comfortable. Reported profits have run ahead of actual cash for several periods. As always: this describes the company's numbers; it is not a recommendation.
360° rank · history
1007550250
Jan 202318
75
2023202420252026
All-time high
78
Mar 2026
All-time low
14
May 2024
Average rank
39
across all years
Detailed & Historical Ranks
Deep dive into 15 detailed ranks and 3 years of history.
Current202520242023
Price/Sales
4
7
18
5
Price/Earnings
4
3
12
5
Price/Book
4
5
3
5
Dividend Yield
55
23
48
32
Value (overall)
10
6
16
12
Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.