Flags

Earnings warning

Noble Development

SET:NOBLE · TH0564B10Z00

Real Estate Management & DevelopmentSmall

360

Medium confidence — indicative

Value47

Profit price57

EV / EBIT43

Price / Owner Earnings71

Cash yield25

Owner Earnings Yield49

Dividend Yield1

Sales & asset price61

Price/Sales91

EV / Gross Profit22

Price/Book69

Quality51

Returns on capital50

Return on Capital13

Cash Return on Capital59

Return on Equity77

Profit margins23

EBIT Margin10

Gross Profitability35

Cash backing63

Cash Conversion76

Accruals64

Owner Earnings Margin49

Growth45

Sales growth16

Profit growth45

Profit Growth32

Long-Term EPS Growth4

Owner Earnings Growth100

Reinvestment22

Price momentum59

Safety35

Debt load1

Debt serviceability56

Refinancing89

Debt Payback23

Liquidity13

Sentiment44

Analyst ratings—

Expectations trend—

Market mood45

Value Creation4/20not creating value

Creates more value than its capital costs
Owner earnings growing
Owner earnings per share growing
Reinvests at strong returns
Solid earnings base

What this means

Noble Development doesn't consistently earn more than its cost of capital, so it isn't yet creating shareholder value.

Profile

CountryThailand

IndustryReal Estate Management & Development

SizeSmall

TypePublic Company

ExchangeSET

Founded1995

Employees158

Websitenoblehome.com/th/home

ISINTH0564B10Z00

Last UpdateApr 2, 2026

Indices

SET (Thailand)

Themes

Real Estate TechnologySmart Building

Description

Noble Development Public Company Limited operates as a real estate development firm specializing in residential properties, particularly condominiums and housing projects in Thailand. The company operates in various facets of the property development…

Analysis

Middle-of-the-road

Noble Development Public Company Limited is a middle-of-the-road business: neither the economics nor the price stand out from the peer group.

The price is attractive. You pay 4.3× its owner earnings: the cash an owner could take out each year, which is in the historically attractive zone.

The trajectory is moderate and the balance sheet is stretched. The company scores 4/20 on our value-creation score: not creating value.

Nothing is flagged here: no red or amber gates, no divergence between profits and cash. That is itself information: the numbers are straightforward. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250

2026

All-time high

Mar 2026

All-time low

Jun 2026

Average rank

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023

Price/Sales

—

Price/Earnings

—

Price/Book

—

Dividend Yield

—

Value (overall)

—

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View

1 · Watch OutGood· 100

Value

1 · ExpensiveGood Value· 100

Quality

1 · Weak FundamentalsHigh Quality· 100

Growth

1 · Tough TimesHigh Growth· 100

Safety

1 · High LeverageWell-Financed· 100

Sentiment

1 · SkepticismPositive· 100

Learn More →