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Noble Development Public Company Limited

Noble Development Public Company Limited

NOBLE.BK
Noble Development Public Company LimitedTH flagStock Exchange of Thailand
1.85
THB
- -
- -
2.53BMarket Cap
Noble Development Public Company Limited
NOBLE.BK
(Stock Exchange of Thailand)

Recent

price

1.85

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
3.73
2.13
1.87
2.25
1.66
0.27
3.29
7.07
3.71
10.89
7.83
4.99
6
6.61
8.03
5.06
4.84
Revenue per Share
0.73
0.25
0.24
0.24
0.12
-0.34
0.5
1.61
0.72
2.24
1.37
0.68
0.33
0.66
0.32
0.43
0.41
Basic EPS, GAAP
-0.83
-0.43
0.14
-1.15
-1.68
-2.84
-0.16
1.15
0.21
5.73
2.9
-0.87
-0.69
-1.27
1.5
1.24
1.09
Free Cash Flow per Basic Share
0.12
0.15
0.1
0.1
0.1
0.03
- -
- -
0.06
4.03
1.1
0.85
0.08
0.28
0.4
0.1
0.1
Dividend per Share
2.67
2.68
2.81
2.95
2.96
2.59
3.38
4.99
5.65
3.86
4.12
3.95
4.2
4.58
4.49
4.81
4.84
Book Value per Share
2.72
2.82
2.96
3.1
3.12
2.74
3.53
5.14
5.8
4
4.28
4.1
4.33
4.71
4.59
4.91
4.95
Tangible Book Value per Share
1,369
1,369
1,369
1,369
1,369
1,369
1,369
1,369
1,369
1,369
1,369
1,369
1,369
1,369
1,369
1,369
1,369
Basic Weighted Avg Shares
5,105
2,910
2,560
3,085
2,276
373
4,503
9,677
5,078
14,916
10,723
6,827
8,215
9,054
10,995
6,930
6,625
Sales/Revenue/Turnover
26.67
18.28
18.09
15.51
11.39
-130.4
24.08
29.98
20.53
25.06
22.16
8.6
5.97
7.88
5.12
-5.34
-3.54
Operating Margin (%)
50
81
83
92
68
80
93
95
80
55
88
141
207
164
130
163
167
Depreciation Expense
998
346
325
323
163
-468
682
2,206
987
3,071
1,878
932
455
910
432
593
555
Net Income, GAAP
27.45
33.39
24.64
20.98
19.53
- -
19.96
19.95
20.05
19.73
21.26
20.8
23.84
24.14
37.42
20.15
18.06
Effective Tax Rate (%)
19.56
11.88
12.68
10.47
7.17
-125.52
15.15
22.79
19.43
20.59
17.52
13.65
5.54
10.06
3.93
8.56
8.38
Profit Margin (%)
5,229
8,032
9,963
10,402
12,447
14,164
10,734
13,810
14,548
10,923
10,422
9,666
11,755
16,312
13,781
10,339
11,212
Working Capital
2,838
5,493
7,165
7,261
9,292
11,827
7,723
8,597
9,071
7,233
7,328
7,266
8,263
12,766
11,114
7,931
8,769
LT Debt
3,731
3,871
4,059
4,245
4,272
3,758
4,833
7,039
7,948
5,479
5,864
5,628
5,942
6,456
6,309
6,740
6,799
Total Equity
10.87
3.48
3.15
2.91
1.4
- -
4.67
11.91
4.05
16.07
11.96
2.82
1.99
2.5
1.53
-1.36
-0.88
Return on Invested Capital (%)
11.78
3.93
3.57
3.37
1.82
- -
4.89
12.43
5.72
17.74
13.47
6.96
3.89
5.87
3.09
4.39
4.47
Return on Capital (%)
30.77
9.44
8.64
8.19
4.03
-12.31
16.7
38.5
13.55
47.14
34.35
16.86
8.16
15.14
6.94
9.32
8.63
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
5,475
6,079
6,322
LT Borrowings
7,665
6,962
7,821
LT Finance Leases
988
969
947
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,369
1,369
1,369
Market Capitalization
2,985
2,958
2,739

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
21,645
19,561
20,752
Cash, Cash Equivalents & STI
1,023
1,421
2,827
Accounts Receivable, Net
45
34
31
Inventories
14,455
13,461
12,931
Total Current Liabilities
9,159
9,222
9,540
Payables & Accruals
1,883
1,606
1,712
ST Debt
5,475
6,079
6,322
Deferred Revenue
44
1,530
1,334

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
7.79%
2.95%
6.83%
Free Cash Flow
125.76%
-60.2%
-17.35%
Net Income, GAAP
7.79%
-3.32%
37.44%
Sales/Revenue/Turnover
132.02%
-4.27%
-36.97%
Total Cash Common Dividend
- -
21.43%
-74.19%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,572
2,538
2,884
4,001
10,995
2025
1,547
1,438
2,025
1,921
6,930
2026
1,242
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.06
0.09
- -
- -
0.32
2025
0.06
-0.04
0.5
- -
0.43
2026
0.04
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.21
0.12
- -
- -
0.4
2025
- -
0.1
- -
- -
0.1
2026
- -
- -
- -
- -
- -
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Business
Noble Development Public Company Limited (SET:NOBLE) develops and sells residential real estate properties in Thailand, including condominiums, single detached houses, townhouses and land plots; it also provides construction, rental and service, construction consulting, property management, juristic management and post-ownership property services, as well as manufactures and sells furniture through Excella Furniture Co., Ltd. and operates ancillary services such as fiber optic installations, electric vehicle charging stations and solar cell systems via Serve Solution Company Limited. Founded in 1991 and headquartered at Noble Building, 1035 Ploenchit Road, Lumpini, Bangkok, the company targets mid-to-high-end markets in prime Bangkok Metropolitan Area locations along BTS lines and major roads including Sukhumvit, Rama 9, Ploenchit, Asok and Ratchaphruek, with over 66 projects launched totaling more than THB 132 billion in gross project value; it maintains major shareholders Mr. Thongchai Busrapan, Fulcrum Global Capital and BTS Group Holdings Plc., and holds a 100% stake in Noble Venture Investment Company Limited for overseas property investments. Recent developments include the launch of four new projects in 2023-2024--Noble Norse Krungthep Kreetha, NUE Shade Ratchaphruek-Chaengwattana, NUE Epic Asok-Rama 9 and NUE Evo Pattanakarn--with a combined value of THB 18.4 billion; expansion into furniture manufacturing; a strategic partnership with STECON Group in September 2025 for 50% joint ownership of the NUE Epic Asok-Rama 9 project to support an asset-light model, recycle capital and reduce net debt-to-equity; and recognition with the Commended Sustainability Awards from SET Award 2024 plus an AAA rating in SET ESG Ratings 2024.