1. Thailand Stocks

  2. •

    Utilities

  3. •

    Electric utilities
Global Power Synergy Public Company Ltd

Global Power Synergy Public Company Ltd

51.00
THB
+0.75
(+1.49%)
124.07BMarket Cap
Nov 11Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
15.28
18.72
14.75
12.35
11.91
16.61
36.94
24.68
26.56
43.88
32.31
32.19
30.12
- -
Basic EPS, GAAP
0.68
1.25
1.25
1.61
1.89
2.24
2.25
2.66
2.6
0.32
1.31
1.44
2.27
- -
Free Cash Flow per Basic Share
0.71
1.1
-1.27
-0.04
0.04
1.93
7.87
6.1
4.16
-0.74
5.66
6.88
6.67
5.68
Dividend per Share
- -
0.09
0.73
0.94
1.02
1.25
1.46
1.3
1.5
1.2
0.6
0.89
0.95
0.95
Book Value per Share
14.23
15.03
21.41
22.09
22.92
23.78
35.78
36.49
38.42
37.14
37.66
38.14
37.03
37.44
Tangible Book Value per Share
14.21
14.99
21.1
21.77
22.61
22.41
6.64
8.09
10.89
9.78
10.93
12.19
11.77
12.6
Basic Weighted Avg Shares
1,682
1,269
1,529
1,682
1,682
1,498
1,802
2,819
2,819
2,819
2,819
2,819
2,819
2,814
Sales/Revenue/Turnover
25,703
23,755
22,543
20,771
20,025
24,880
66,562
69,578
74,874
123,685
91,079
90,730
84,916
- -
Operating Margin (%)
6.5
7.07
7.11
12.11
13.62
14.65
14
16.07
10.92
0.85
8.09
9.76
10.94
- -
Depreciation Expense
991
1,043
1,082
1,266
1,351
1,802
7,079
8,706
9,232
9,113
9,609
9,756
9,387
- -
Net Income, GAAP
1,148
1,581
1,906
2,700
3,175
3,359
4,061
7,508
7,319
891
3,694
4,062
6,399
- -
Effective Tax Rate (%)
0.14
1.71
4.55
4.66
7.14
5.88
3.96
10.47
13.2
- -
9.88
5.92
7.67
- -
Profit Margin (%)
4.47
6.65
8.45
13
15.85
13.5
6.1
10.79
9.77
0.72
4.06
4.48
7.54
- -
Working Capital
6,436
2,943
11,764
7,470
5,830
7,437
2,171
21,391
22,454
20,102
3,564
26,653
18,013
15,435
LT Debt
10,384
11,197
13,394
14,295
14,817
16,465
79,356
95,041
102,996
119,155
103,363
121,260
100,240
91,400
Total Equity
24,361
26,018
37,128
38,754
40,374
42,349
110,176
111,867
117,748
116,361
118,739
119,142
116,436
117,570
Return on Invested Capital (%)
- -
4.33
3.36
4.3
4.51
5.9
6.48
4.6
3.16
- -
2.95
3.46
3.82
- -
Return on Capital (%)
- -
5.29
4.96
5.4
5.97
5.69
4.14
4.31
4.23
- -
2.66
3.16
3.84
- -
Return on Common Equity (%)
- -
6.42
6.22
7.38
8.39
8.55
5.76
7.37
6.93
0.84
3.5
3.8
6.04
- -

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
14,965
14,245
17,296
LT Borrowings
97,031
93,960
88,115
LT Finance Leases
3,209
3,201
3,284
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2,820
2,820
2,820
Market Capitalization
101,510
95,871
124,068

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
42,826
41,815
44,288
Cash, Cash Equivalents & STI
2,215
16,199
15,236
Accounts Receivable, Net
10,468
8,142
12,035
Inventories
6,348
6,888
6,638
Total Current Liabilities
24,812
23,521
28,854
Payables & Accruals
9,340
7,552
8,224
ST Debt
14,965
14,245
17,296
Deferred Revenue
- -
- -
- -

Growth Rates

THB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
17.93%
0.84%
-2.27%
Free Cash Flow
358.4%
-199.76%
-3.11%
Net Income, GAAP
46.24%
58.31%
57.52%
Sales/Revenue/Turnover
22.45%
7.93%
-6.41%
Total Cash Common Dividend
13.89%
0.09%
6.74%

Quarterly Revenue

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
23,958
24,077
21,112
22,168
90,730
2025
21,414
22,476
- -
19,465
84,916
2026
16,640
21,714
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.31
0.51
0.27
0.35
1.44
2025
0.4
0.72
- -
0.53
2.27
2026
0.61
0.65
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.44
0.44
- -
0.89
2025
- -
0.45
- -
- -
0.95
2026
- -
0.96
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Cherdchai Boonchoochauy
Full Time Employees
849
Sector
Utilities
Industry
Electric utilities
Address
555/2 Energy Complex Building B Bangkok BM Thailand 10900
IPO Date
May 18, 2015
Website
gpscgroup.com
Similar Companies
Vistra Corp. (NYSE:VST)
Constellation Energy Corporation (NASDAQ:CEG)
NextEra Energy, Inc. (NYSE:NEE)
Adani Energy Solutions Ltd (NSE:ADANIENSOL)
NTPC Limited (NSE:NTPC)
Adani Power Limited (NSE:ADANIPOWER)
Business
Global Power Synergy Public Company Limited (GPSC.BK), the power flagship of PTT Group founded in 2013 and headquartered in Bangkok, Thailand, engages primarily in the production and distribution of electricity, steam, industrial water, chilled water, and public utilities to industrial, government, and commercial customers; it generates power through combined cycle, cogeneration, thermal plants with 4,524 megawatts capacity, renewable sources including solar, wind, hydropower totaling 6,300 megawatts committed equity capacity, alongside steam at 3,294 tons per hour, industrial water at 7,472 cubic meters per hour, chilled water at 15,400 refrigeration tons, and energy storage systems with 64 megawatt-hours; the company operates through segments of Independent Power Producer, Small Power Producer, and others, with investments in domestic and overseas power, utilities, and related businesses such as distributed generation, district cooling, energy management services, batteries, and decarbonization solutions, primarily serving Thailand while pursuing international expansion in renewables. GPSC maintains total committed equity capacity of 12,582 megawatts in electricity production and advances its 4S strategy encompassing core business strengthening, green energy scale-up via solar and wind, new growth curves in renewable integration and batteries, and customer-centric shifts; recent developments include subsidiaries securing four ground-mounted solar projects totaling 192.88 megawatts contracted capacity under Thailand's FiT 2022-2030 program in December 2024, a July 2025 restructuring where its unit Global Renewable Synergy acquired 50% of Global Renewable Power from PTT Global Management for THB 1.275 billion to consolidate 100% ownership and boost renewable efficiency, a September 2025 share purchase agreement to acquire an additional 9.38% stake in Ratchaburi Power Company Limited for THB 470 million elevating its holding to 24.38%, and a May 2025 divestment by a unit of a 3% stake in India's Avaada Energy to optimize project management and returns in a 20,558-megawatt committed capacity portfolio.