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About the company
Gulf Development Public Company Limited is a Thailand-based company which is focused on developing gas-fired power projects alongside making a significant investment in renewable energy such as solar, wind, hydroelectric, biomass, and waste-to-energy projects. The Company operates through four segments: power business, consulting business, infrastructure business, and satellite and digital business. Its energy business includes gas-fired power generation, renewable energy, and gas-related activities. Its Infrastructure and logistics business focuses on the development and management of essential public services. Its Telecommunications and satellite business encompasses telecommunications and satellite sectors, focusing on digital infrastructure. It invests in the Bang Pa-In - Nakhon Ratchasima (M6) and Bang Yai - Kanchanaburi (M81) intercity motorway projects through BGSR 6 and BGSR 81, project companies established by the BGSR Consortium.
- Revenue in THB (TTM)--
- Net income in THB--
- Incorporated2025
- Employees--
- LocationGulf Development PCL87 M.Thai Tower 11th FloorAll Seasons Place, Wireless RoadBANGKOK 10330ThailandTHA
- Websitehttps://www.gulf.co.th/
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Peer analysis
Key Information
- Key Information
- Stock Performance
- Per Share Data
- Efficiency
- Management Effectiveness
- Profitability
- Financial Strength
- Growth Rates
| Company | Revenue (TTM) | Net income (TTM) | Market cap | Employees | Price/earnings (TTM) | Price/book value (MRQ) | Price/cash flow (TTM) | Price/sales (TTM) | EPS (excl. extraordinary items, TTM) | EPS (incl. extraordinary items, TTM) | Revenue per share (TTM) | Book value per share (MRQ) | Asset turnover (TTM) | Inventory turnover (TTM) | Receivables turnover (TTM) | Revenues per employee (TTM) | Return on avg assets (TTM) | Return on avg assets (5 yr avg) | Return on investment (TTM) | Return on investment (5 yr avg) | Gross margin (TTM) | Gross margin (5 yr avg) | Net profit margin (TTM) | Net Profit margin (5 yr avg) | Quick ratio (MRQ) | Interest coverage (TTM) | Total debt to capital (MRQ) | Payout ratio (5 yr avg) | Revenue (YOY change %) | Revenue (5 yr growth rate) | Net income (YOY change %) | Net income (5 yr growth rate) | Capital expenditure (5 yr growth rate) | Dividend (5 yr growth rate) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Power Assets Holdings Ltd | 3.26bn | 24.57bn | 519.87bn | 16.00 | 21.16 | 1.46 | 21.14 | 159.38 | 2.89 | 2.89 | 0.3834 | 41.72 | 0.0086 | -- | 12.57 | 58,357,140.00 | 6.47 | 6.37 | 6.86 | 6.68 | -- | -- | 753.37 | 498.89 | -- | -- | 0.0407 | 100.02 | -28.87 | -7.38 | 1.93 | -3.01 | -- | 0.1425 |
| Adani Green Energy Ltd | 42.67bn | 5.12bn | 555.27bn | 1.25k | 113.58 | -- | 35.12 | 13.01 | 8.61 | 8.61 | 79.56 | -- | -- | -- | -- | 99,310,340.00 | -- | 1.33 | -- | 1.76 | 93.12 | 82.60 | 11.55 | 11.22 | -- | 1.15 | -- | 0.00 | 21.61 | 34.49 | 31.27 | 132.96 | 48.79 | -- |
| Kansai Electric Power Co Inc | 835.77bn | 80.53bn | 594.68bn | 31.43k | 7.38 | 0.8701 | 3.99 | 0.7115 | 357.49 | 357.49 | 3,710.41 | 3,031.84 | 0.4292 | 11.36 | 7.36 | 131,526,400.00 | 4.17 | 2.60 | 5.02 | 3.26 | -13.43 | -- | 9.72 | 6.13 | 0.9319 | -- | 0.5603 | 22.23 | 6.84 | 6.37 | -4.87 | 26.45 | -1.65 | 3.71 |
| CK Infrastructure Holdings Ltd | 18.86bn | 32.55bn | 643.32bn | 2.28k | 19.77 | 1.19 | 18.10 | 34.11 | 3.24 | 3.24 | 1.87 | 53.64 | 0.0289 | 12.70 | 18.03 | 2,003,393.00 | 5.26 | 5.01 | 5.74 | 5.46 | 56.03 | 55.50 | 181.75 | 129.73 | 0.6824 | -- | 0.1328 | 82.24 | -16.64 | -5.80 | 1.10 | -5.03 | -2.90 | 0.9571 |
| Tenaga Nasional Bhd | 513.17bn | 32.20bn | 649.27bn | 34.94k | 20.14 | 1.65 | 5.24 | 1.27 | 0.695 | 0.695 | 11.08 | 8.48 | 0.3221 | -- | 4.37 | 1,846,123.00 | 2.01 | 1.90 | 2.44 | 2.29 | -- | 8.10 | 6.24 | 7.27 | 0.8185 | 2.46 | 0.6309 | 83.18 | 6.92 | 2.18 | 69.61 | 0.7371 | 0.7773 | 0.3968 |
| CLP Holdings Ltd | 358.26bn | 45.58bn | 762.07bn | 8.44k | 16.72 | 1.74 | 8.73 | 2.13 | 4.52 | 4.52 | 35.52 | 43.41 | 0.378 | 10.47 | 5.38 | 10,663,340.00 | 5.23 | 3.76 | 6.60 | 4.75 | 29.71 | -- | 13.85 | 9.91 | 0.5425 | -- | 0.3648 | 100.05 | 4.35 | 1.20 | 76.44 | 20.32 | 7.00 | 0.4505 |
| Huaneng Lancang River Hydropower Inc | 117.91bn | 37.40bn | 770.83bn | 5.16k | 19.91 | 2.03 | -- | 6.54 | 0.46 | 0.46 | 1.45 | 4.51 | 0.1217 | 227.63 | 8.16 | 5,058,073.00 | 4.33 | 4.11 | 5.28 | 4.92 | 52.80 | 54.87 | 35.61 | 32.93 | 0.3089 | 5.80 | 0.5744 | 49.17 | 6.05 | 3.65 | 10.00 | 7.39 | 36.50 | 2.13 |
| China National Nuclear Power Co Ltd | 370.01bn | 38.89bn | 799.87bn | 20.36k | 20.57 | 1.52 | -- | 2.16 | 0.4187 | 0.4187 | 3.98 | 5.67 | 0.1232 | 1.57 | 3.23 | 4,024,610.00 | 2.37 | 3.37 | 3.40 | 4.73 | 39.24 | 44.13 | 19.21 | 22.92 | 0.5362 | 4.49 | 0.6676 | 36.15 | 3.09 | 10.33 | -8.97 | 14.89 | 28.97 | 8.09 |
| Gulf Development PCL | -100.00bn | -100.00bn | 817.96bn | -- | -- | 5.05 | -- | -- | -- | -- | -- | 10.84 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.8556 | -- | 0.5072 | -- | 5.99 | -- | 19.31 | -- | -- | -- |
| Power Grid Corporation of India Ltd | 163.13bn | 53.49bn | 943.34bn | 9.05k | 17.63 | -- | 9.99 | 5.78 | 16.70 | 16.70 | 50.92 | -- | -- | -- | -- | 52,323,840.00 | -- | 5.93 | -- | 6.84 | -- | -- | 30.60 | 34.60 | -- | 2.99 | -- | 61.85 | -0.1108 | 3.94 | -0.3321 | 7.01 | 16.25 | 9.86 |
| Adani Power Ltd | 186.95bn | 39.47bn | 990.46bn | 4.18k | 24.46 | -- | 18.19 | 5.30 | 6.09 | 6.09 | 28.87 | -- | -- | -- | -- | 129,920,600.00 | -- | 11.66 | -- | 14.61 | 44.82 | 39.42 | 20.83 | 25.46 | -- | 4.86 | -- | 0.00 | 12.14 | 16.25 | -37.88 | -- | 39.01 | -- |
| Huadian New Energy Group Co Ltd | 173.93bn | 38.81bn | 1.12tn | 8.56k | 28.46 | 1.89 | -- | 6.45 | 0.2091 | 0.2091 | 0.9357 | 3.14 | -- | -- | -- | 4,497,625.00 | -- | -- | -- | -- | 41.74 | -- | 25.28 | -- | 0.5984 | 3.83 | 0.6759 | -- | 14.83 | -- | -8.20 | -- | -- | -- |
Data as of Feb 11 2026. Currency figures normalised to Gulf Development PCL's reporting currency: Thai Baht THB
5.99%Per cent of shares held by top holders
| Holder | Shares | % Held |
|---|---|---|
| MFC Asset Management Public Co., Ltd. (Investment Management)as of 17 Apr 2025 | 350.07m | 2.34% |
| BBL Asset Management Co., Ltd.as of 30 Sep 2025 | 112.76m | 0.76% |
| Norges Bank Investment Managementas of 30 Jun 2025 | 109.46m | 0.73% |
| SCB Asset Management Co., Ltd.as of 30 Sep 2025 | 86.95m | 0.58% |
| Kasikorn Asset Management Co., Ltd.as of 30 Sep 2025 | 82.95m | 0.56% |
| Krungsri Asset Management Co., Ltd.as of 30 Sep 2025 | 50.47m | 0.34% |
| Krung Thai Asset Management Public Co., Ltd.as of 30 Sep 2025 | 29.75m | 0.20% |
| Eastspring Asset Management (Thailand) Co., Ltd.as of 30 Sep 2025 | 26.55m | 0.18% |
| JPMorgan Asset Management (Singapore) Ltd.as of 30 Sep 2025 | 23.93m | 0.16% |
| AIA Investment Management HK Ltd.as of 30 Sep 2025 | 21.41m | 0.14% |
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Data from 30 Jun 2025 - 31 Dec 2025Source: FactSet Research Systems Inc.
