View ValuationThis company listing is no longer activeThis company may still be operating, however this listing is no longer active. Find out why through their latest events.See Latest EventsGulf Energy Development 향후 성장Future 기준 점검 2/6Gulf Energy Development (는) 각각 연간 14.3% 및 0.5% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 12.2% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 13% 로 예상됩니다.핵심 정보14.3%이익 성장률12.17%EPS 성장률Renewable Energy 이익 성장-20.0%매출 성장률0.5%향후 자기자본이익률12.98%애널리스트 커버리지Good마지막 업데이트02 Apr 2025최근 향후 성장 업데이트업데이트 없음모든 업데이트 보기Recent updates공시 • Apr 02Gulf Energy Development Public Company Limited Announces Committee Appointments, Effective April 1, 2025Gulf Energy Development Public Company Limited approved the appointment of the subcommittees as follows: Mr. Krisada Chinavicharana, Independent Director and Chairman of the Audit Committee; Prof. Dr. Bundhit Eua-arporn Independent Director and Member of the Audit Committee; Mrs. Sirivipa Supantanet Independent Director and Member of the Audit Committee. Sustainability, Governance and Risk Management Committee: Mr. Somprasong Boonyachai, Independent Director and Chairman of the Sustainability, Governance and Risk Management Committee; Mr. Predee Daochai, Independent Director and Member of the Sustainability, Governance and Risk Management Committee; and Ms. Yupapin Wangviwat, Director and Member of the Sustainability, Governance and Risk Management Committee. effective from the date of April 1, 2025 onwards.공시 • Mar 26Gulf Energy Development Public Company Limited Approves No Further Dividend for the Performance of the Year 2024Gulf Energy Development Public Company Limited announced at the AGM held on March 25, 2025, approved no further dividend payment for the performance of the year 2024.Reported Earnings • Feb 11Full year 2024 earnings: EPS in line with expectations, revenues disappointFull year 2024 results: EPS: ฿1.55 (up from ฿1.27 in FY 2023). Revenue: ฿120.9b (up 6.0% from FY 2023). Net income: ฿18.2b (up 22% from FY 2023). Profit margin: 15% (up from 13% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 2.3% p.a. on average during the next 2 years, compared to a 1.1% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.공시 • Feb 11Gulf Energy Development Public Company Limited, Annual General Meeting, Mar 25, 2025Gulf Energy Development Public Company Limited, Annual General Meeting, Mar 25, 2025, at 11:00 SE Asia Standard Time. Location: at napalai grand ballroom,dusit thani bangkok, 98, rama iv road, silom sub-district, bangrak district, bangkok ThailandBuy Or Sell Opportunity • Feb 10Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 11% to ฿57.25. The fair value is estimated to be ฿72.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 3.7% in 2 years. Earnings are forecast to grow by 34% in the next 2 years.Declared Dividend • Feb 08Dividend of ฿1.01 announcedShareholders will receive a dividend of ฿1.01. Ex-date: 19th February 2025 Payment date: 6th March 2025 Dividend yield will be 1.7%, which is lower than the industry average of 2.1%.공시 • Feb 06Gulf Energy Development Public Company Limited Announces Cash Dividend for the Operating Period from January 01, 2024 to September 30, 2024, Payable on 06 March 2025Gulf Energy Development Public Company Limited announces cash dividend of THB 1.01 per share for the operating period from January 01, 2024 to September 30, 2024. Date of board resolution; February 06, 2025. Record date for the right to receive dividends; February 20, 2025. Ex-dividend date; February 19, 2025. Payment date; 06 march 2025. Par value; THB 1.00.공시 • Feb 04+ 1 more updateGulf Energy Development Public Company Limited to Report Q4, 2024 Results on Feb 10, 2025Gulf Energy Development Public Company Limited announced that they will report Q4, 2024 results on Feb 10, 2025Buy Or Sell Opportunity • Jan 15Now 23% overvaluedOver the last 90 days, the stock has fallen 14% to ฿60.00. The fair value is estimated to be ฿48.90, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 5.8% in 2 years. Earnings are forecast to grow by 33% in the next 2 years.공시 • Dec 26Intouch Holdings Public Company Limited (SET:INTUCH), Gulf Energy Development Public Company Limited (SET:GULF), Gulf Ventures Company Limited and Sarath Ratanavadi proposed to acquire 58.86% stake in Thaicom Public Company Limited (SET:THCOM) from a group of shareholders for THB 7.1 billion.Intouch Holdings Public Company Limited (SET:INTUCH), Gulf Energy Development Public Company Limited (SET:GULF), Gulf Ventures Company Limited and Sarath Ratanavadi proposed to acquire 58.86% stake in Thaicom Public Company Limited (SET:THCOM) from a group of shareholders for THB 7.1 billion on December 24, 2024. A cash consideration valued at THB 11 per share will be paid for 645,187,220 shares. The expected completion of the transaction is February 6, 2025. TTT & Partners Company Limited acted as legal advisor to Thaicom Public Company Limited. Bualuang Securities Public Company Limited acted as tender offer agent.Buy Or Sell Opportunity • Dec 03Now 25% overvalued after recent price riseOver the last 90 days, the stock has risen 28% to ฿65.50. The fair value is estimated to be ฿52.22, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 6.3% in 2 years. Earnings are forecast to grow by 32% in the next 2 years.Reported Earnings • Nov 15Third quarter 2024 earnings released: EPS: ฿0.52 (vs ฿0.29 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.52 (up from ฿0.29 in 3Q 2023). Revenue: ฿33.0b (up 20% from 3Q 2023). Net income: ฿6.03b (up 79% from 3Q 2023). Profit margin: 18% (up from 12% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.공시 • Nov 07Gulf Energy Development Public Company Limited to Report Q3, 2024 Results on Nov 14, 2024Gulf Energy Development Public Company Limited announced that they will report Q3, 2024 results on Nov 14, 2024Reported Earnings • Aug 09Second quarter 2024 earnings released: EPS: ฿0.40 (vs ฿0.25 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.40 (up from ฿0.25 in 2Q 2023). Revenue: ฿31.6b (down 3.0% from 2Q 2023). Net income: ฿4.74b (up 64% from 2Q 2023). Profit margin: 15% (up from 8.9% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.공시 • Aug 06Gulf Energy Development Public Company Limited to Report Q2, 2024 Results on Aug 08, 2024Gulf Energy Development Public Company Limited announced that they will report Q2, 2024 results on Aug 08, 2024Reported Earnings • May 10First quarter 2024 earnings released: EPS: ฿0.60 (vs ฿0.33 in 1Q 2023)First quarter 2024 results: EPS: ฿0.60 (up from ฿0.33 in 1Q 2023). Revenue: ฿63.2b (up 139% from 1Q 2023). Net income: ฿7.00b (up 82% from 1Q 2023). Profit margin: 11% (down from 15% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.공시 • May 08Gulf Energy Development Public Company Limited to Report Q1, 2024 Results on May 09, 2024Gulf Energy Development Public Company Limited announced that they will report Q1, 2024 results on May 09, 2024New Risk • Apr 18New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.2% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.5x net interest cover). Minor Risk Paying a dividend despite having no free cash flows.공시 • Apr 05Gulf Energy Development Public Company Limited Approves Dividend for the Year Ended December 31, 2023, Payable on April 25, 2024Gulf Energy Development Public Company Limited at its 2024 Annual General Meeting of Shareholders held on April 4, 2024, approved the dividend payment in respect of the results of operation of the Company for the year ended December 31, 2023 at THB 0.88 per share out of the net profit and retained earnings for the total amount of approximately THB 10,325 million or equivalent to 78.1% of the net profit based on the separate financial statements of the Company which is in accordance with the provisions of the Company's dividend policy. The dividend shall be paid to entitled shareholders whose names appear on the name list of shareholders as of the Record Date of February 29, 2024 and the dividend shall be paid on April 25, 2024.Buy Or Sell Opportunity • Apr 02Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 3.9% to ฿43.25. The fair value is estimated to be ฿54.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 45% over the last 3 years. Earnings per share has grown by 36%. For the next 3 years, revenue is forecast to grow by 3.6% per annum. Earnings are also forecast to grow by 15% per annum over the same time period.공시 • Mar 13Gulf Energy Development Public Company Limited (SET:GULF) entered into agreement to acquire 50% stake in Get Green Power Company Limited from Earth Tech Environment Public Company Limited (SET:ETC).Gulf Energy Development Public Company Limited (SET:GULF) entered into agreement to acquire 50% stake in Get Green Power Company Limited from Earth Tech Environment Public Company Limited (SET:ETC) on March 8, 2024.Upcoming Dividend • Feb 21Upcoming dividend of ฿0.88 per shareEligible shareholders must have bought the stock before 28 February 2024. Payment date: 25 April 2024. Payout ratio is a comfortable 69% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Thai dividend payers (6.6%). Lower than average of industry peers (2.5%).공시 • Feb 16Gulf Energy Development Public Company Limited, Annual General Meeting, Apr 04, 2024Gulf Energy Development Public Company Limited, Annual General Meeting, Apr 04, 2024, at 14:00 SE Asia Standard Time. Location: Ballroom, The Conrad Bangkok Hotel, 87 Wireless Road, Lumpini Sub-district, Bangkok Thailand Agenda: To Acknowledge the Directors' Report on the Company's Performance for the Year 2023; to Approve the Company's Audited Financial Statements for the Year Ended December 31, 2023; to Approve the Allocation of the Earnings Appropriations and Dividend Payment; to Approve the Appointment of the Directors to Replace those Retired by Rotation; to Approve the Fixing of the Directors' Remuneration for the Year 2024; to Approve the Appointment of the Auditors and Fixing the Audit Fees for the Year 2024; and to consider other Business (if any).Reported Earnings • Feb 16Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: EPS: ฿1.27 (up from ฿0.97 in FY 2022). Revenue: ฿114.1b (up 21% from FY 2022). Net income: ฿14.9b (up 30% from FY 2022). Profit margin: 13% (in line with FY 2022). Revenue exceeded analyst estimates by 5.5%. Earnings per share (EPS) missed analyst estimates by 1.9%. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.공시 • Feb 15Gulf Energy Development Public Company Limited Proposes Dividend for the Year 2023, Payable on April 25, 2024Gulf Energy Development Public Company Limited proposed at its AGM to be held on April 4, 2024 dividend payment out of the Company's separate net profit for the year 2023 and retained earnings to the Company's shareholders at the rate of Baht 0.88 per share for 11,733,149,998 shares, totalling approximately Baht 10,325 million. The Company's legal reserve has already reached amount required by law. To set February 29, 2024 as the date to determine names of the shareholders entitled to the dividend payment (Record Date) and the dividend payment shall be paid on April 25, 2024.Reported Earnings • Nov 10Third quarter 2023 earnings: EPS and revenues miss analyst expectationsThird quarter 2023 results: EPS: ฿0.29 (up from ฿0.093 in 3Q 2022). Revenue: ฿27.4b (up 16% from 3Q 2022). Net income: ฿3.36b (up 209% from 3Q 2022). Profit margin: 12% (up from 4.6% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 8.3%. Earnings per share (EPS) also missed analyst estimates by 10%. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.Reported Earnings • Aug 11Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behindSecond quarter 2023 results: EPS: ฿0.25 (up from ฿0.13 in 2Q 2022). Revenue: ฿32.6b (up 42% from 2Q 2022). Net income: ฿2.88b (up 89% from 2Q 2022). Profit margin: 8.9% (up from 6.7% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates by 22%. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.Reported Earnings • May 17First quarter 2023 earnings released: EPS: ฿0.33 (vs ฿0.29 in 1Q 2022)First quarter 2023 results: EPS: ฿0.33 (up from ฿0.29 in 1Q 2022). Revenue: ฿26.4b (up 28% from 1Q 2022). Net income: ฿3.85b (up 13% from 1Q 2022). Profit margin: 15% (down from 17% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.Reported Earnings • Feb 22Third quarter 2022 earnings released: EPS: ฿0.093 (vs ฿0.14 in 3Q 2021)Third quarter 2022 results: EPS: ฿0.093 (down from ฿0.14 in 3Q 2021). Revenue: ฿23.6b (up 99% from 3Q 2021). Net income: ฿1.09b (down 32% from 3Q 2021). Profit margin: 4.6% (down from 13% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 4 years, compared to a 11% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Feb 22Upcoming dividend of ฿0.60 per share at 1.1% yieldEligible shareholders must have bought the stock before 01 March 2023. Payment date: 27 April 2023. Payout ratio is a comfortable 57% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Thai dividend payers (5.5%). Lower than average of industry peers (1.6%).Reported Earnings • Nov 17Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2022 results: EPS: ฿0.093 (down from ฿0.14 in 3Q 2021). Revenue: ฿23.6b (up 99% from 3Q 2021). Net income: ฿1.09b (down 32% from 3Q 2021). Profit margin: 4.6% (down from 13% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 64%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.공시 • Sep 10Gulf Energy Development Public Company Limited (SET:GULF) entered into a Purchase and Sale Agreement to acquire a 49% stake in Jackson Generation, LLC from J-POWER Jackson Partners, LLC for approximately $410 million.Gulf Energy Development Public Company Limited (SET:GULF) entered into a Purchase and Sale Agreement to acquire a 49% stake in Jackson Generation, LLC from J-POWER Jackson Partners, LLC for approximately $410 million on September 9, 2022. The transaction is subject to customary closing conditions, in particular the receipt of required regulatory approvals including approval from the Federal Regulatory Commission (FERC) and completion of review by the Committee on Foreign Investment in the United States. The transaction is expected to complete in December 2022. Merit Capital Advisors, LLC and Baker & McKenzie LLP have acted as financial and legal advisors, respectively, in connection with the transaction.Reported Earnings • Aug 13Second quarter 2022 earnings released: EPS: ฿0.13 (vs ฿0.12 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.13 (up from ฿0.12 in 2Q 2021). Revenue: ฿23.0b (up 105% from 2Q 2021). Net income: ฿1.53b (up 8.8% from 2Q 2021). Profit margin: 6.7% (down from 13% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 25%, compared to a 29% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 28% per year whereas the company’s share price has increased by 27% per year.Reported Earnings • May 15First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2022 results: EPS: ฿0.29 (up from ฿0.14 in 1Q 2021). Revenue: ฿20.6b (up 128% from 1Q 2021). Net income: ฿3.39b (up 108% from 1Q 2021). Profit margin: 17% (down from 18% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) exceeded analyst estimates by 66%. Over the next year, revenue is forecast to grow 30%, compared to a 26% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth.공시 • Apr 09+ 1 more updateGulf Energy Development Public Company Limited Approves the Appointment of Predee Daochai and Somprasong Boonyachai as Independent DirectorsGulf Energy Development Public Company Limited at its 2022 annual general meeting of shareholders was held on April 8, 2022, approved the increase in the number of the directors of the Company from 10 persons to 12 persons and approved the appointment of Mr. Predee Daochai and Mr. Somprasong Boonyachai as the Company's independent directors by a majority vote of shareholders.Upcoming Dividend • Feb 25Upcoming dividend of ฿0.44 per shareEligible shareholders must have bought the stock before 04 March 2022. Payment date: 28 April 2022. Payout ratio is a comfortable 67% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of Thai dividend payers (5.2%). Lower than average of industry peers (1.6%).Reported Earnings • Feb 20Full year 2021 earnings: EPS misses analyst expectationsFull year 2021 results: EPS: ฿0.65 (up from ฿0.39 in FY 2020). Revenue: ฿47.5b (up 45% from FY 2020). Net income: ฿7.67b (up 79% from FY 2020). Profit margin: 16% (up from 13% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.1%. Over the next year, revenue is forecast to grow 42%, compared to a 37% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth.공시 • Feb 19+ 1 more updateGulf Energy Development Public Company Limited Proposes Dividend for the Year 2021Gulf Energy Development Public Company Limited will propose dividend of THB 0.44 per share for the year 2021 to its AGM to be held on April 8, 2022. Record date is March 7, 2022.Board Change • Dec 06Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. Director Chotikul Sookpiromkasem was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Nov 18Third quarter 2021 earnings released: EPS ฿0.14 (vs ฿0.09 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿11.9b (up 51% from 3Q 2020). Net income: ฿1.59b (up 64% from 3Q 2020). Profit margin: 13% (up from 12% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth.Reported Earnings • Aug 15Second quarter 2021 earnings released: EPS ฿0.12 (vs ฿0.18 in 2Q 2020)The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: ฿12.0b (up 55% from 2Q 2020). Net income: ฿1.41b (down 25% from 2Q 2020). Profit margin: 12% (down from 24% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth.Reported Earnings • May 17First quarter 2021 earnings released: EPS ฿0.14 (vs ฿0.039 loss in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿9.04b (up 15% from 1Q 2020). Net income: ฿1.63b (up ฿2.05b from 1Q 2020). Profit margin: 18% (up from net loss in 1Q 2020). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth.공시 • Mar 06Gulf Energy Development Public Company Limited Announces Resignation of Vinit Tangnoi as Independent DirectorGulf Energy Development Public Company Limited announced that Mr. Vinit Tangnoi, Independent Director and Audit Committee Member, has resigned from the company Directorship due to personal business engagements, effective from March 4, 2021 onwards.Executive Departure • Mar 05Independent Director has left the companyOn the 4th of March, Vinit Tangnoi's tenure as Independent Director ended after 3.8 years in the role. We don't have any record of a personal shareholding under Vinit's name. Vinit is the only executive to leave the company over the last 12 months.공시 • Feb 23Gulf Energy Development Public Company Limited, Annual General Meeting, Apr 09, 2021Gulf Energy Development Public Company Limited, Annual General Meeting, Apr 09, 2021, at 14:00 SE Asia Standard Time. Location: Ballroom, The Conrad Bangkok Hotel, 87 Wireless Road Lumpini Sub-district, Pathumwan District Bangkok Thailand Agenda: To acknowledge the directors' report on the company's performance for the year 2020; to approve the company's audited financial statements for the year ended December 31, 2020; to approve the appointment of the directors; to approve the fixing of the directors' remuneration for the year 2021; and to discuss other matters.Reported Earnings • Feb 23Full year 2020 earnings released: EPS ฿0.39 (vs ฿0.46 in FY 2019)The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: ฿35.8b (up 19% from FY 2019). Net income: ฿4.28b (down 12% from FY 2019). Profit margin: 12% (down from 16% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings.Analyst Estimate Surprise Post Earnings • Feb 23Revenue beats expectations, earnings disappointRevenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) missed analyst estimates by 3.5%. Over the next year, revenue is forecast to grow 33%, compared to a 22% growth forecast for the Renewable Energy industry in Thailand.Is New 90 Day High Low • Feb 07New 90-day low: ฿32.75The company is down 3.0% from its price of ฿33.75 on 09 November 2020. The Thai market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿10.71 per share.Is New 90 Day High Low • Jan 05New 90-day high: ฿37.25The company is up 21% from its price of ฿30.75 on 07 October 2020. The Thai market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿6.34 per share.공시 • Dec 25Gulf Energy Development Public Company Limited (SET:GULF) acquired 40% stake in PTT Natural Gas Distribution Co., Ltd. from International Power S.A. for THB 2.7 billion.Gulf Energy Development Public Company Limited (SET:GULF) entered into a share purchase agreement 40% stake in PTT Natural Gas Distribution Co., Ltd. from International Power S.A. for THB 2.7 billion on December 23, 2020. Gulf Energy Development Public Company Limited (SET:GULF) completed the acquisition of 40% stake in PTT Natural Gas Distribution Co., Ltd. from International Power S.A. on December 24, 2020.Analyst Estimate Surprise Post Earnings • Nov 16Earnings beat expectations, revenue disappointsRevenue missed analyst estimates by 3.1%. Earnings per share (EPS) exceeded analyst estimates by 19%. Over the next year, revenue is forecast to grow 42%, compared to a 16% growth forecast for the Renewable Energy industry in Thailand.Reported Earnings • Nov 16Third quarter 2020 earnings released: EPS ฿0.09The company reported a poor third quarter result with weaker earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: ฿7.88b (down 5.5% from 3Q 2019). Net income: ฿970.4m (down 11% from 3Q 2019). Profit margin: 12% (in line with 3Q 2019).Is New 90 Day High Low • Nov 11New 90-day high: ฿34.75The company is up 6.0% from its price of ฿32.75 on 13 August 2020. The Thai market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿4.71 per share.Is New 90 Day High Low • Oct 23New 90-day low: ฿28.50The company is down 17% from its price of ฿34.50 on 24 July 2020. The Thai market is down 9.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Renewable Energy industry, which is down 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿4.78 per share.공시 • Sep 29Gulf Energy Development Public Company Limited has completed a Follow-on Equity Offering in the amount of THB 31.9995 billion.Gulf Energy Development Public Company Limited has completed a Follow-on Equity Offering in the amount of THB 31.9995 billion. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 1,066,650,000 Price\Range: THB 30 Transaction Features: Rights OfferingIs New 90 Day High Low • Sep 24New 90-day low: ฿30.75The company is down 13% from its price of ฿35.50 on 25 June 2020. The Thai market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is down 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿4.58 per share.이익 및 매출 성장 예측SET:GULFI - 애널리스트 향후 추정치 및 과거 재무 데이터 (THB Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/2027127,98327,85713,80234,409512/31/2026125,09725,60227,04934,786912/31/2025122,16322,96019,46516,948812/31/2024120,88818,170-8,50919,815N/A9/30/2024121,30719,032-9,18914,606N/A6/30/2024118,27616,363-3,98621,532N/A3/31/2024119,24114,506-3,95015,146N/A12/31/2023114,05414,858-1,90518,295N/A9/30/2023113,27715,501-2,67512,623N/A6/30/2023109,48913,227-3,57611,079N/A3/31/202399,93611,87370912,919N/A12/31/202294,15111,418-6,45111,109N/A9/30/202282,5509,055-1,34116,682N/A6/30/202270,8229,557-5,06614,033N/A3/31/202259,0609,433-9,20813,035N/A12/31/202147,4677,670-8,18114,015N/A9/30/202141,5256,471-9,20214,031N/A6/30/202137,4995,853-8,58513,521N/A3/31/202134,0306,328-11,17313,429N/A12/31/202032,8634,282-8,03210,579N/A9/30/202031,5223,343-5,6949,446N/A6/30/202031,9833,458-3,2059,349N/A3/31/202031,3543,181-1,9579,417N/A12/31/201930,0404,887-5,6018,048N/A9/30/201927,3044,535-11,2745,925N/A6/30/201923,4244,654-17,2394,048N/A3/31/201920,3002,613-18,2512,238N/A12/31/201817,1813,028-16,1562,402N/A9/30/201814,3013,457N/A2,408N/A6/30/201811,3532,927N/A1,241N/A3/31/20187,7424,052N/A110N/A12/31/20174,3503,451N/A-717N/A9/30/20172,0482,329N/A-1,479N/A6/30/20176052,261N/A-1,561N/A3/31/20172421,389N/A-1,187N/A12/31/2016241418N/A-1,160N/A12/31/2015687-811N/A-1,046N/A12/31/2014773-431N/A-138N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: GULFI 의 연간 예상 수익 증가율(14.3%)이 saving rate(2.1%)보다 높습니다.수익 vs 시장: GULFI 의 연간 수익(14.3%)이 TH 시장(10.9%)보다 빠르게 성장할 것으로 예상됩니다.고성장 수익: GULFI 의 수입은 증가할 것으로 예상되지만 상당히 증가하지는 않을 것입니다.수익 대 시장: GULFI 의 수익(연간 0.5%)이 TH 시장(연간 9.9%)보다 느리게 성장할 것으로 예상됩니다.고성장 매출: GULFI 의 수익(연간 0.5%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: GULFI의 자본 수익률은 3년 후 13%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YUtilities 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2025/04/02 23:02종가2025/03/20 00:00수익2024/12/31연간 수익2024/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Gulf Development Public Company Limited는 30명의 분석가가 다루고 있습니다. 이 중 9명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Narumon EkasamutBofA Global ResearchSuppata SrisukBualuang Securities PCLPanjapon TaensricharoenBualuang Securities PCL27명의 분석가 더 보기
공시 • Apr 02Gulf Energy Development Public Company Limited Announces Committee Appointments, Effective April 1, 2025Gulf Energy Development Public Company Limited approved the appointment of the subcommittees as follows: Mr. Krisada Chinavicharana, Independent Director and Chairman of the Audit Committee; Prof. Dr. Bundhit Eua-arporn Independent Director and Member of the Audit Committee; Mrs. Sirivipa Supantanet Independent Director and Member of the Audit Committee. Sustainability, Governance and Risk Management Committee: Mr. Somprasong Boonyachai, Independent Director and Chairman of the Sustainability, Governance and Risk Management Committee; Mr. Predee Daochai, Independent Director and Member of the Sustainability, Governance and Risk Management Committee; and Ms. Yupapin Wangviwat, Director and Member of the Sustainability, Governance and Risk Management Committee. effective from the date of April 1, 2025 onwards.
공시 • Mar 26Gulf Energy Development Public Company Limited Approves No Further Dividend for the Performance of the Year 2024Gulf Energy Development Public Company Limited announced at the AGM held on March 25, 2025, approved no further dividend payment for the performance of the year 2024.
Reported Earnings • Feb 11Full year 2024 earnings: EPS in line with expectations, revenues disappointFull year 2024 results: EPS: ฿1.55 (up from ฿1.27 in FY 2023). Revenue: ฿120.9b (up 6.0% from FY 2023). Net income: ฿18.2b (up 22% from FY 2023). Profit margin: 15% (up from 13% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 2.3% p.a. on average during the next 2 years, compared to a 1.1% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
공시 • Feb 11Gulf Energy Development Public Company Limited, Annual General Meeting, Mar 25, 2025Gulf Energy Development Public Company Limited, Annual General Meeting, Mar 25, 2025, at 11:00 SE Asia Standard Time. Location: at napalai grand ballroom,dusit thani bangkok, 98, rama iv road, silom sub-district, bangrak district, bangkok Thailand
Buy Or Sell Opportunity • Feb 10Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 11% to ฿57.25. The fair value is estimated to be ฿72.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 3.7% in 2 years. Earnings are forecast to grow by 34% in the next 2 years.
Declared Dividend • Feb 08Dividend of ฿1.01 announcedShareholders will receive a dividend of ฿1.01. Ex-date: 19th February 2025 Payment date: 6th March 2025 Dividend yield will be 1.7%, which is lower than the industry average of 2.1%.
공시 • Feb 06Gulf Energy Development Public Company Limited Announces Cash Dividend for the Operating Period from January 01, 2024 to September 30, 2024, Payable on 06 March 2025Gulf Energy Development Public Company Limited announces cash dividend of THB 1.01 per share for the operating period from January 01, 2024 to September 30, 2024. Date of board resolution; February 06, 2025. Record date for the right to receive dividends; February 20, 2025. Ex-dividend date; February 19, 2025. Payment date; 06 march 2025. Par value; THB 1.00.
공시 • Feb 04+ 1 more updateGulf Energy Development Public Company Limited to Report Q4, 2024 Results on Feb 10, 2025Gulf Energy Development Public Company Limited announced that they will report Q4, 2024 results on Feb 10, 2025
Buy Or Sell Opportunity • Jan 15Now 23% overvaluedOver the last 90 days, the stock has fallen 14% to ฿60.00. The fair value is estimated to be ฿48.90, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 5.8% in 2 years. Earnings are forecast to grow by 33% in the next 2 years.
공시 • Dec 26Intouch Holdings Public Company Limited (SET:INTUCH), Gulf Energy Development Public Company Limited (SET:GULF), Gulf Ventures Company Limited and Sarath Ratanavadi proposed to acquire 58.86% stake in Thaicom Public Company Limited (SET:THCOM) from a group of shareholders for THB 7.1 billion.Intouch Holdings Public Company Limited (SET:INTUCH), Gulf Energy Development Public Company Limited (SET:GULF), Gulf Ventures Company Limited and Sarath Ratanavadi proposed to acquire 58.86% stake in Thaicom Public Company Limited (SET:THCOM) from a group of shareholders for THB 7.1 billion on December 24, 2024. A cash consideration valued at THB 11 per share will be paid for 645,187,220 shares. The expected completion of the transaction is February 6, 2025. TTT & Partners Company Limited acted as legal advisor to Thaicom Public Company Limited. Bualuang Securities Public Company Limited acted as tender offer agent.
Buy Or Sell Opportunity • Dec 03Now 25% overvalued after recent price riseOver the last 90 days, the stock has risen 28% to ฿65.50. The fair value is estimated to be ฿52.22, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 6.3% in 2 years. Earnings are forecast to grow by 32% in the next 2 years.
Reported Earnings • Nov 15Third quarter 2024 earnings released: EPS: ฿0.52 (vs ฿0.29 in 3Q 2023)Third quarter 2024 results: EPS: ฿0.52 (up from ฿0.29 in 3Q 2023). Revenue: ฿33.0b (up 20% from 3Q 2023). Net income: ฿6.03b (up 79% from 3Q 2023). Profit margin: 18% (up from 12% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.
공시 • Nov 07Gulf Energy Development Public Company Limited to Report Q3, 2024 Results on Nov 14, 2024Gulf Energy Development Public Company Limited announced that they will report Q3, 2024 results on Nov 14, 2024
Reported Earnings • Aug 09Second quarter 2024 earnings released: EPS: ฿0.40 (vs ฿0.25 in 2Q 2023)Second quarter 2024 results: EPS: ฿0.40 (up from ฿0.25 in 2Q 2023). Revenue: ฿31.6b (down 3.0% from 2Q 2023). Net income: ฿4.74b (up 64% from 2Q 2023). Profit margin: 15% (up from 8.9% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.
공시 • Aug 06Gulf Energy Development Public Company Limited to Report Q2, 2024 Results on Aug 08, 2024Gulf Energy Development Public Company Limited announced that they will report Q2, 2024 results on Aug 08, 2024
Reported Earnings • May 10First quarter 2024 earnings released: EPS: ฿0.60 (vs ฿0.33 in 1Q 2023)First quarter 2024 results: EPS: ฿0.60 (up from ฿0.33 in 1Q 2023). Revenue: ฿63.2b (up 139% from 1Q 2023). Net income: ฿7.00b (up 82% from 1Q 2023). Profit margin: 11% (down from 15% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.
공시 • May 08Gulf Energy Development Public Company Limited to Report Q1, 2024 Results on May 09, 2024Gulf Energy Development Public Company Limited announced that they will report Q1, 2024 results on May 09, 2024
New Risk • Apr 18New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.2% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.5x net interest cover). Minor Risk Paying a dividend despite having no free cash flows.
공시 • Apr 05Gulf Energy Development Public Company Limited Approves Dividend for the Year Ended December 31, 2023, Payable on April 25, 2024Gulf Energy Development Public Company Limited at its 2024 Annual General Meeting of Shareholders held on April 4, 2024, approved the dividend payment in respect of the results of operation of the Company for the year ended December 31, 2023 at THB 0.88 per share out of the net profit and retained earnings for the total amount of approximately THB 10,325 million or equivalent to 78.1% of the net profit based on the separate financial statements of the Company which is in accordance with the provisions of the Company's dividend policy. The dividend shall be paid to entitled shareholders whose names appear on the name list of shareholders as of the Record Date of February 29, 2024 and the dividend shall be paid on April 25, 2024.
Buy Or Sell Opportunity • Apr 02Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 3.9% to ฿43.25. The fair value is estimated to be ฿54.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 45% over the last 3 years. Earnings per share has grown by 36%. For the next 3 years, revenue is forecast to grow by 3.6% per annum. Earnings are also forecast to grow by 15% per annum over the same time period.
공시 • Mar 13Gulf Energy Development Public Company Limited (SET:GULF) entered into agreement to acquire 50% stake in Get Green Power Company Limited from Earth Tech Environment Public Company Limited (SET:ETC).Gulf Energy Development Public Company Limited (SET:GULF) entered into agreement to acquire 50% stake in Get Green Power Company Limited from Earth Tech Environment Public Company Limited (SET:ETC) on March 8, 2024.
Upcoming Dividend • Feb 21Upcoming dividend of ฿0.88 per shareEligible shareholders must have bought the stock before 28 February 2024. Payment date: 25 April 2024. Payout ratio is a comfortable 69% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Thai dividend payers (6.6%). Lower than average of industry peers (2.5%).
공시 • Feb 16Gulf Energy Development Public Company Limited, Annual General Meeting, Apr 04, 2024Gulf Energy Development Public Company Limited, Annual General Meeting, Apr 04, 2024, at 14:00 SE Asia Standard Time. Location: Ballroom, The Conrad Bangkok Hotel, 87 Wireless Road, Lumpini Sub-district, Bangkok Thailand Agenda: To Acknowledge the Directors' Report on the Company's Performance for the Year 2023; to Approve the Company's Audited Financial Statements for the Year Ended December 31, 2023; to Approve the Allocation of the Earnings Appropriations and Dividend Payment; to Approve the Appointment of the Directors to Replace those Retired by Rotation; to Approve the Fixing of the Directors' Remuneration for the Year 2024; to Approve the Appointment of the Auditors and Fixing the Audit Fees for the Year 2024; and to consider other Business (if any).
Reported Earnings • Feb 16Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: EPS: ฿1.27 (up from ฿0.97 in FY 2022). Revenue: ฿114.1b (up 21% from FY 2022). Net income: ฿14.9b (up 30% from FY 2022). Profit margin: 13% (in line with FY 2022). Revenue exceeded analyst estimates by 5.5%. Earnings per share (EPS) missed analyst estimates by 1.9%. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.
공시 • Feb 15Gulf Energy Development Public Company Limited Proposes Dividend for the Year 2023, Payable on April 25, 2024Gulf Energy Development Public Company Limited proposed at its AGM to be held on April 4, 2024 dividend payment out of the Company's separate net profit for the year 2023 and retained earnings to the Company's shareholders at the rate of Baht 0.88 per share for 11,733,149,998 shares, totalling approximately Baht 10,325 million. The Company's legal reserve has already reached amount required by law. To set February 29, 2024 as the date to determine names of the shareholders entitled to the dividend payment (Record Date) and the dividend payment shall be paid on April 25, 2024.
Reported Earnings • Nov 10Third quarter 2023 earnings: EPS and revenues miss analyst expectationsThird quarter 2023 results: EPS: ฿0.29 (up from ฿0.093 in 3Q 2022). Revenue: ฿27.4b (up 16% from 3Q 2022). Net income: ฿3.36b (up 209% from 3Q 2022). Profit margin: 12% (up from 4.6% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 8.3%. Earnings per share (EPS) also missed analyst estimates by 10%. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Aug 11Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behindSecond quarter 2023 results: EPS: ฿0.25 (up from ฿0.13 in 2Q 2022). Revenue: ฿32.6b (up 42% from 2Q 2022). Net income: ฿2.88b (up 89% from 2Q 2022). Profit margin: 8.9% (up from 6.7% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates by 22%. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.
Reported Earnings • May 17First quarter 2023 earnings released: EPS: ฿0.33 (vs ฿0.29 in 1Q 2022)First quarter 2023 results: EPS: ฿0.33 (up from ฿0.29 in 1Q 2022). Revenue: ฿26.4b (up 28% from 1Q 2022). Net income: ฿3.85b (up 13% from 1Q 2022). Profit margin: 15% (down from 17% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Feb 22Third quarter 2022 earnings released: EPS: ฿0.093 (vs ฿0.14 in 3Q 2021)Third quarter 2022 results: EPS: ฿0.093 (down from ฿0.14 in 3Q 2021). Revenue: ฿23.6b (up 99% from 3Q 2021). Net income: ฿1.09b (down 32% from 3Q 2021). Profit margin: 4.6% (down from 13% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 4 years, compared to a 11% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Feb 22Upcoming dividend of ฿0.60 per share at 1.1% yieldEligible shareholders must have bought the stock before 01 March 2023. Payment date: 27 April 2023. Payout ratio is a comfortable 57% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Thai dividend payers (5.5%). Lower than average of industry peers (1.6%).
Reported Earnings • Nov 17Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2022 results: EPS: ฿0.093 (down from ฿0.14 in 3Q 2021). Revenue: ฿23.6b (up 99% from 3Q 2021). Net income: ฿1.09b (down 32% from 3Q 2021). Profit margin: 4.6% (down from 13% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 64%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Renewable Energy industry in Thailand. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.
공시 • Sep 10Gulf Energy Development Public Company Limited (SET:GULF) entered into a Purchase and Sale Agreement to acquire a 49% stake in Jackson Generation, LLC from J-POWER Jackson Partners, LLC for approximately $410 million.Gulf Energy Development Public Company Limited (SET:GULF) entered into a Purchase and Sale Agreement to acquire a 49% stake in Jackson Generation, LLC from J-POWER Jackson Partners, LLC for approximately $410 million on September 9, 2022. The transaction is subject to customary closing conditions, in particular the receipt of required regulatory approvals including approval from the Federal Regulatory Commission (FERC) and completion of review by the Committee on Foreign Investment in the United States. The transaction is expected to complete in December 2022. Merit Capital Advisors, LLC and Baker & McKenzie LLP have acted as financial and legal advisors, respectively, in connection with the transaction.
Reported Earnings • Aug 13Second quarter 2022 earnings released: EPS: ฿0.13 (vs ฿0.12 in 2Q 2021)Second quarter 2022 results: EPS: ฿0.13 (up from ฿0.12 in 2Q 2021). Revenue: ฿23.0b (up 105% from 2Q 2021). Net income: ฿1.53b (up 8.8% from 2Q 2021). Profit margin: 6.7% (down from 13% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 25%, compared to a 29% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 28% per year whereas the company’s share price has increased by 27% per year.
Reported Earnings • May 15First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2022 results: EPS: ฿0.29 (up from ฿0.14 in 1Q 2021). Revenue: ฿20.6b (up 128% from 1Q 2021). Net income: ฿3.39b (up 108% from 1Q 2021). Profit margin: 17% (down from 18% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) exceeded analyst estimates by 66%. Over the next year, revenue is forecast to grow 30%, compared to a 26% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth.
공시 • Apr 09+ 1 more updateGulf Energy Development Public Company Limited Approves the Appointment of Predee Daochai and Somprasong Boonyachai as Independent DirectorsGulf Energy Development Public Company Limited at its 2022 annual general meeting of shareholders was held on April 8, 2022, approved the increase in the number of the directors of the Company from 10 persons to 12 persons and approved the appointment of Mr. Predee Daochai and Mr. Somprasong Boonyachai as the Company's independent directors by a majority vote of shareholders.
Upcoming Dividend • Feb 25Upcoming dividend of ฿0.44 per shareEligible shareholders must have bought the stock before 04 March 2022. Payment date: 28 April 2022. Payout ratio is a comfortable 67% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of Thai dividend payers (5.2%). Lower than average of industry peers (1.6%).
Reported Earnings • Feb 20Full year 2021 earnings: EPS misses analyst expectationsFull year 2021 results: EPS: ฿0.65 (up from ฿0.39 in FY 2020). Revenue: ฿47.5b (up 45% from FY 2020). Net income: ฿7.67b (up 79% from FY 2020). Profit margin: 16% (up from 13% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.1%. Over the next year, revenue is forecast to grow 42%, compared to a 37% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth.
공시 • Feb 19+ 1 more updateGulf Energy Development Public Company Limited Proposes Dividend for the Year 2021Gulf Energy Development Public Company Limited will propose dividend of THB 0.44 per share for the year 2021 to its AGM to be held on April 8, 2022. Record date is March 7, 2022.
Board Change • Dec 06Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. Director Chotikul Sookpiromkasem was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Nov 18Third quarter 2021 earnings released: EPS ฿0.14 (vs ฿0.09 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿11.9b (up 51% from 3Q 2020). Net income: ฿1.59b (up 64% from 3Q 2020). Profit margin: 13% (up from 12% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth.
Reported Earnings • Aug 15Second quarter 2021 earnings released: EPS ฿0.12 (vs ฿0.18 in 2Q 2020)The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: ฿12.0b (up 55% from 2Q 2020). Net income: ฿1.41b (down 25% from 2Q 2020). Profit margin: 12% (down from 24% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth.
Reported Earnings • May 17First quarter 2021 earnings released: EPS ฿0.14 (vs ฿0.039 loss in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ฿9.04b (up 15% from 1Q 2020). Net income: ฿1.63b (up ฿2.05b from 1Q 2020). Profit margin: 18% (up from net loss in 1Q 2020). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth.
공시 • Mar 06Gulf Energy Development Public Company Limited Announces Resignation of Vinit Tangnoi as Independent DirectorGulf Energy Development Public Company Limited announced that Mr. Vinit Tangnoi, Independent Director and Audit Committee Member, has resigned from the company Directorship due to personal business engagements, effective from March 4, 2021 onwards.
Executive Departure • Mar 05Independent Director has left the companyOn the 4th of March, Vinit Tangnoi's tenure as Independent Director ended after 3.8 years in the role. We don't have any record of a personal shareholding under Vinit's name. Vinit is the only executive to leave the company over the last 12 months.
공시 • Feb 23Gulf Energy Development Public Company Limited, Annual General Meeting, Apr 09, 2021Gulf Energy Development Public Company Limited, Annual General Meeting, Apr 09, 2021, at 14:00 SE Asia Standard Time. Location: Ballroom, The Conrad Bangkok Hotel, 87 Wireless Road Lumpini Sub-district, Pathumwan District Bangkok Thailand Agenda: To acknowledge the directors' report on the company's performance for the year 2020; to approve the company's audited financial statements for the year ended December 31, 2020; to approve the appointment of the directors; to approve the fixing of the directors' remuneration for the year 2021; and to discuss other matters.
Reported Earnings • Feb 23Full year 2020 earnings released: EPS ฿0.39 (vs ฿0.46 in FY 2019)The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: ฿35.8b (up 19% from FY 2019). Net income: ฿4.28b (down 12% from FY 2019). Profit margin: 12% (down from 16% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings.
Analyst Estimate Surprise Post Earnings • Feb 23Revenue beats expectations, earnings disappointRevenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) missed analyst estimates by 3.5%. Over the next year, revenue is forecast to grow 33%, compared to a 22% growth forecast for the Renewable Energy industry in Thailand.
Is New 90 Day High Low • Feb 07New 90-day low: ฿32.75The company is down 3.0% from its price of ฿33.75 on 09 November 2020. The Thai market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿10.71 per share.
Is New 90 Day High Low • Jan 05New 90-day high: ฿37.25The company is up 21% from its price of ฿30.75 on 07 October 2020. The Thai market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿6.34 per share.
공시 • Dec 25Gulf Energy Development Public Company Limited (SET:GULF) acquired 40% stake in PTT Natural Gas Distribution Co., Ltd. from International Power S.A. for THB 2.7 billion.Gulf Energy Development Public Company Limited (SET:GULF) entered into a share purchase agreement 40% stake in PTT Natural Gas Distribution Co., Ltd. from International Power S.A. for THB 2.7 billion on December 23, 2020. Gulf Energy Development Public Company Limited (SET:GULF) completed the acquisition of 40% stake in PTT Natural Gas Distribution Co., Ltd. from International Power S.A. on December 24, 2020.
Analyst Estimate Surprise Post Earnings • Nov 16Earnings beat expectations, revenue disappointsRevenue missed analyst estimates by 3.1%. Earnings per share (EPS) exceeded analyst estimates by 19%. Over the next year, revenue is forecast to grow 42%, compared to a 16% growth forecast for the Renewable Energy industry in Thailand.
Reported Earnings • Nov 16Third quarter 2020 earnings released: EPS ฿0.09The company reported a poor third quarter result with weaker earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: ฿7.88b (down 5.5% from 3Q 2019). Net income: ฿970.4m (down 11% from 3Q 2019). Profit margin: 12% (in line with 3Q 2019).
Is New 90 Day High Low • Nov 11New 90-day high: ฿34.75The company is up 6.0% from its price of ฿32.75 on 13 August 2020. The Thai market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿4.71 per share.
Is New 90 Day High Low • Oct 23New 90-day low: ฿28.50The company is down 17% from its price of ฿34.50 on 24 July 2020. The Thai market is down 9.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Renewable Energy industry, which is down 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿4.78 per share.
공시 • Sep 29Gulf Energy Development Public Company Limited has completed a Follow-on Equity Offering in the amount of THB 31.9995 billion.Gulf Energy Development Public Company Limited has completed a Follow-on Equity Offering in the amount of THB 31.9995 billion. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 1,066,650,000 Price\Range: THB 30 Transaction Features: Rights Offering
Is New 90 Day High Low • Sep 24New 90-day low: ฿30.75The company is down 13% from its price of ฿35.50 on 25 June 2020. The Thai market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is down 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ฿4.58 per share.