1. Thailand Stocks

  2. •

    Consumer durables

  3. •

    Homebuilding
Noble Development Public Co., Ltd.

Noble Development Public Co., Ltd.

1.44
THB
+0.02
(+1.41%)
0.13EPS
12.31P/E
2.42BMarket Cap
Nov 05Next 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
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
4.48
Basic EPS, GAAP
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
0.14
Free Cash Flow per Basic Share
-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
1.39
Dividend per Share
0.1
0.1
0.03
- -
- -
0.06
4.03
1.1
0.85
0.08
0.28
0.4
0.1
- -
Book Value per Share
3.1
3.12
2.74
3.53
5.14
5.8
4
4.28
4.11
4.34
4.71
4.6
4.92
4.66
Tangible Book Value per Share
3.1
3.12
2.74
3.53
5.14
5.8
4
4.28
4.1
4.33
4.7
4.58
4.91
4.65
Basic Weighted Avg Shares
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
Sales/Revenue/Turnover
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
6,133
Operating Margin (%)
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
-9.56
Depreciation Expense
92
68
80
93
95
80
55
88
141
207
164
130
163
166
Net Income, GAAP
323
163
-468
682
2,206
987
3,071
1,878
932
455
910
432
593
197
Effective Tax Rate (%)
20.98
19.53
- -
19.96
19.95
20.05
19.73
21.26
20.8
23.84
24.14
37.42
20.15
32.38
Profit Margin (%)
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
3.21
Working Capital
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
10,288
LT Debt
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
8,349
Total Equity
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
6,387
Return on Invested Capital (%)
2.49
1.1
- -
4.67
11.3
3.99
17.07
11.96
2.79
2.54
3.38
1.47
1.91
0.98
Return on Capital (%)
3.31
1.79
- -
4.83
12.3
5.66
17.55
13.29
6.87
3.85
5.82
3.07
4.36
2.95
Return on Common Equity (%)
7.78
3.83
-11.65
15.88
37.16
13.17
45.75
33.12
16.22
7.87
14.69
6.77
9.1
3.13

Capital Structure

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
6,079
6,322
4,007
LT Borrowings
6,962
7,821
7,423
LT Finance Leases
969
947
926
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,369
1,369
1,369
Market Capitalization
2,958
2,739
2,424

Working Capital

THB

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
19,561
20,752
17,744
Cash, Cash Equivalents & STI
1,421
2,827
464
Accounts Receivable, Net
34
31
31
Inventories
13,461
12,931
12,155
Total Current Liabilities
9,222
9,540
7,456
Payables & Accruals
1,606
1,712
1,747
ST Debt
6,079
6,322
4,007
Deferred Revenue
1,530
1,334
1,522

Growth Rates

THB

•

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

THB

•

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
945
- -
- -
- -

Quarterly Earnings Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.06
0.09
- -
0.17
0.32
2025
0.06
-0.04
0.5
-0.09
0.43
2026
0.04
-0.31
- -
- -
- -

Quarterly Dividends Per Share

THB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.21
0.12
- -
0.08
0.4
2025
- -
0.1
- -
- -
0.1
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Thongchai Busrapan
Full Time Employees
466
Sector
Consumer durables
Industry
Homebuilding
Address
Noble Building Bangkok BM Thailand 10330
IPO Date
Jun 12, 1997
Website
noblehome.com
Similar Companies
Lennar Corporation (NYSE:LEN)
Anant Raj Ltd. (NSE:ANANTRAJ)
D.R. Horton, Inc. (NYSE:DHI)
Orascom Development Egypt (S.A.E) (EGX:ORHD)
Springview Holdings Ltd (NASDAQ:SPHL)
Heliopolis Housing (EGX:HELI)
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.