Noble Development Management

Management criteria checks 3/4

Noble Development's CEO is Thongchai Busrapan, appointed in Apr 2019, has a tenure of 5.67 years. directly owns 20.09% of the company’s shares, worth THB742.95M. The average tenure of the management team and the board of directors is 4.7 years and 5.1 years respectively.

Key information

Thongchai Busrapan

Chief executive officer

฿450.0k

Total compensation

CEO salary percentage	n/a
CEO tenure	5.7yrs
CEO ownership	20.1%
Management average tenure	4.7yrs
Board average tenure	5.1yrs

Recent management updates

Recent updates

CEO

Thongchai Busrapan (55 yo)

5.7yrs

Tenure

฿450,000

Compensation

Mr. Thongchai Busrapan serves as Co-Chief Executive Officer at Noble Development Public Company Limited since April 25, 2019 and served as its President until 2019. Mr. Busrapan served as Chairman at Noble...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Thongchai Busrapan	First Vice Chairman & Co-CEO	5.7yrs	฿450.00k	20.09% THB 742.9m
Kuen Fung	Second Vice Chairman & Co-CEO	6.3yrs	฿510.00k	19.46% THB 719.6m
Sira Udol	COO of Residential Real Estate & Director	10.9yrs	฿425.00k	no data
Arttavit Chalermsaphayakorn	COO of New Business Group & Director	no data	฿450.00k	no data
Thippawan Karoonsatitchai	EVP, Deputy CEO	less than a year	no data	no data
Supaporn Wattanasuwan	Senior Vice President of Accounting Department	3.7yrs	no data	no data
Pacharawan Setthikul	EVP, Deputy CEO	less than a year	no data	no data
Arat Sawatatat	CEO of Business Development Officer 3 & Executive Director	10.9yrs	no data	no data
Theeraphon Voranithiphong	Chief Business Development Officer 1 & Acting Chief Corporate Support Officer	21.9yrs	฿36.99k	no data
Narissara Pengsopa	Head of Internal Audit	no data	no data	no data
Orranuch Ittikosin	CEO of Business Development Officer 4 & Executive Director	3.5yrs	no data	no data
Wittaya Luengsukcharoen	Honorary Senior Advisor & Director	less than a year	no data	no data

4.7yrs

Average Tenure

52.5yo

Average Age

Experienced Management: NOBLE's management team is considered experienced (4.7 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Thongchai Busrapan	First Vice Chairman & Co-CEO	5.7yrs	฿450.00k	20.09% THB 742.9m
Kuen Fung	Second Vice Chairman & Co-CEO	6.3yrs	฿510.00k	19.46% THB 719.6m
Sira Udol	COO of Residential Real Estate & Director	2.8yrs	฿425.00k	no data
Arttavit Chalermsaphayakorn	COO of New Business Group & Director	4.3yrs	฿450.00k	no data
Thippawan Karoonsatitchai	EVP, Deputy CEO	no data	no data	no data
Pacharawan Setthikul	EVP, Deputy CEO	no data	no data	no data
Arat Sawatatat	CEO of Business Development Officer 3 & Executive Director	no data	no data	no data
Orranuch Ittikosin	CEO of Business Development Officer 4 & Executive Director	no data	no data	no data
Wittaya Luengsukcharoen	Honorary Senior Advisor & Director	less than a year	no data	no data
Torboon Puangmaha	Independent Director	5.1yrs	฿1.78m	no data
Natchanont Komutputipong	Independent Director	5.1yrs	฿1.92m	no data
Punnee Chaiyakul	Independent Chairwoman of the Board	5.1yrs	฿1.78m	no data

5.1yrs

Average Tenure

53.5yo

Average Age

Experienced Board: NOBLE's board of directors are considered experienced (5.1 years average tenure).

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/30 18:43
End of Day Share Price	2024/12/30 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Noble Development Public Company Limited is covered by 5 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Tharinee Chabsuwan	Finansa Securities Ltd.
Thanyatorn Songwutti	FSS International Advisory
Wilasinee Boonmasungsong	Globlex Securities Co. Ltd.

Noble Development Management

Management criteria checks 3/4

Key information

Recent management updates

Insufficient new directors

Noble Development Public Company Limited, Annual General Meeting, Apr 25, 2024

Noble Development Public Company Limited Announces CFO Changes

Noble Development Public Company Limited Announces CFO Changes

High number of new directors

High number of new and inexperienced directors

Recent updates

Upcoming dividend of ฿0.085 per share

Third quarter 2024 earnings released: ฿0.002 loss per share (vs ฿0.39 profit in 3Q 2023)

Noble Development Public Company Limited (SET:NOBLE) acquired the remaining 50% stake in Ratchada Alliance Co., Ltd. from Thanulux Public Company Limited (SET:TNL) for THB 53.6 million.

Second quarter 2024 earnings released: EPS: ฿0.09 (vs ฿0.08 in 2Q 2023)

First quarter 2024 earnings released: EPS: ฿0.06 (vs ฿0.05 in 1Q 2023)

Noble Development Public Company Limited Approves Cash Dividend for the Operating Result of the Period from 01 October, 2023 to 31 December, 2023, Payable on May 24, 2024

New minor risk - Earnings quality

Insufficient new directors

Full year 2023 earnings: EPS and revenues miss analyst expectations

Noble Development Public Company Limited, Annual General Meeting, Apr 25, 2024

Upcoming dividend of ฿0.20 per share at 4.1% yield

Noble Development Public Company Limited Announces CFO Changes

Noble Development Public Company Limited Announces CFO Changes

Noble Development Public Company Limited Announces Cash Dividend for Operating Period from 01-July-2023 to 30-September-2023, Payable on February 15, 2024

Third quarter 2023 earnings released: EPS: ฿0.39 (vs ฿0.11 in 3Q 2022)

Upcoming dividend of ฿0.081 per share at 4.8% yield

Consensus revenue estimates fall by 13%

First quarter 2023 earnings released

Upcoming dividend of ฿0.20 per share at 4.1% yield

Full year 2022 earnings: EPS and revenues miss analyst expectations

Now 21% undervalued

Price target increased to ฿6.05

High number of new directors

Price target increased to ฿6.05

Second quarter 2022 earnings released: ฿0.014 loss per share (vs ฿0.22 profit in 2Q 2021)

BTS Group Holdings Public Company Limited (SET : BTS) acquired RC Area Company Limited from Noble Development Public Company Limited (SET : NOBLE) for TBH 199 million.

Consensus EPS estimates fall by 12%

First quarter 2022 earnings: EPS and revenues miss analyst expectations

Upcoming dividend of ฿0.08 per share

Price target decreased to ฿5.70

High number of new and inexperienced directors

Noble Development Public Company Limited (SET:NOBLE) acquired a 50% stake in Khu Khot Station Alliance Company Limited from U City Public Company Limited (SET:U) for approximately THB 600 million.

Consensus forecasts updated

Full year 2021 earnings: EPS and revenues miss analyst expectations

Noble Development Public Company Limited Announces Dividend of the Operating Result July 1, 2021 to December 31, 2021, Payable on May 26, 2022

Third quarter 2021 earnings released: EPS ฿0.11 (vs ฿0.38 in 3Q 2020)

Price target decreased to ฿8.95

Upcoming dividend of ฿0.35 per share

Second quarter 2021 earnings released: EPS ฿0.22 (vs ฿0.22 in 2Q 2020)

Noble Development Public Company Limited (SET:NOBLE) and U City Public Company Limited (SET:U) acquired Future Domain Company Limited for THB 2.3 billion.

First quarter 2021 earnings released: EPS ฿0.35 (vs ฿0.30 in 1Q 2020)

Investor sentiment deteriorated over the past week

Upcoming dividend of ฿0.50 per share

Noble Development Public Company Limited Approves Dividend for the Year 2020, Payable on May 27, 2021

New 90-day high: ฿8.60

Revenue and earnings beat expectations

Full year 2020 earnings released: EPS ฿1.37 (vs ฿2.24 in FY 2019)

Noble Development Public Company Limited, Annual General Meeting, Apr 28, 2021

Noble Development Public Company Limited (SET:NOBLE) completed the acquisition of a 20% stake in SWP Asset Management Co., Ltd. from Srisawad Corporation Public Company Limited (SET:SAWAD).

New 90-day high: ฿22.80

Third quarter 2020 earnings released: EPS ฿1.15

New 90-day high: ฿20.50

New 90-day high: ฿20.00

New 90-day high: ฿14.90

New 90-day high - ฿14.30

Upcoming Dividend of ฿1.10 Per Share

New 90-day high - ฿12.40

First half earnings released

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age

Company Analysis and Financial Data Status

Data Sources