Global Power Synergy PCL
Global Power Synergy Public Company Limited, together with its subsidiaries, engages in the production and distribution of electricity, steam, and water for industrial use to the government and industrial customers in Thailand. It operates through three segments: Independent Power Producer, Small Power Producer, and Others. The company generates electricity through solar, wind, hydropower, and th… Read more
Global Power Synergy PCL (GPSC) - Net Assets
Latest net assets as of December 2025: ฿116.44 Billion THB
Based on the latest financial reports, Global Power Synergy PCL (GPSC) has net assets worth ฿116.44 Billion THB as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿264.26 Billion) and total liabilities (฿147.82 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ฿116.44 Billion |
| % of Total Assets | 44.06% |
| Annual Growth Rate | 13.92% |
| 5-Year Change | -1.11% |
| 10-Year Change | 200.45% |
| Growth Volatility | 44.03 |
Global Power Synergy PCL - Net Assets Trend (2013–2025)
This chart illustrates how Global Power Synergy PCL's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Global Power Synergy PCL (2013–2025)
The table below shows the annual net assets of Global Power Synergy PCL from 2013 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ฿116.44 Billion | -2.27% |
| 2024-12-31 | ฿119.14 Billion | +1.38% |
| 2023-12-31 | ฿117.52 Billion | +2.11% |
| 2022-12-31 | ฿115.10 Billion | -2.25% |
| 2021-12-31 | ฿117.75 Billion | +5.26% |
| 2020-12-31 | ฿111.87 Billion | +1.54% |
| 2019-12-31 | ฿110.18 Billion | +160.16% |
| 2018-12-31 | ฿42.35 Billion | +4.89% |
| 2017-12-31 | ฿40.37 Billion | +4.18% |
| 2016-12-31 | ฿38.75 Billion | +4.38% |
| 2015-12-31 | ฿37.13 Billion | +42.70% |
| 2014-12-31 | ฿26.02 Billion | +6.80% |
| 2013-12-31 | ฿24.36 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Global Power Synergy PCL's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 161.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿26.62 Billion | 25.49% |
| Other Components | ฿77.79 Billion | 74.51% |
| Total Equity | ฿104.41 Billion | 100.00% |
Global Power Synergy PCL Competitors by Market Cap
The table below lists competitors of Global Power Synergy PCL ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shandong Sunway Petrochemical Engineering Co Ltd
SHE:002469
|
$626.47 Million |
|
Fujian Expressway Development Co Ltd
SHG:600033
|
$626.53 Million |
|
AG Anadolu Group Holding
IS:AGHOL
|
$626.55 Million |
|
MetroCity Bankshares
NASDAQ:MCBS
|
$626.56 Million |
|
Guangdong Silvere Sci and Tech
SHE:300221
|
$626.42 Million |
|
Drive Shack Inc.
PINK:DSHKP
|
$626.30 Million |
|
Storage Vault Canada Inc
PINK:SVAUF
|
$626.18 Million |
|
Global New Material International Holdings Limited
F:69Y
|
$625.83 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Global Power Synergy PCL's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 107,557,600,180 to 104,406,315,314, a change of -3,151,284,866 (-2.9%).
- Net income of 6,399,003,431 contributed positively to equity growth.
- Dividend payments of 2,678,742,899 reduced retained earnings.
- Other comprehensive income decreased equity by 2,819,729,367.
- Other factors decreased equity by 4,051,816,031.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿6.40 Billion | +6.13% |
| Dividends Paid | ฿2.68 Billion | -2.57% |
| Other Comprehensive Income | ฿-2.82 Billion | -2.7% |
| Other Changes | ฿-4.05 Billion | -3.88% |
| Total Change | ฿- | -2.93% |
Book Value vs Market Value Analysis
This analysis compares Global Power Synergy PCL's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.91x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 2.37x to 0.91x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2013-12-31 | ฿14.23 | ฿33.75 | x |
| 2014-12-31 | ฿15.03 | ฿33.75 | x |
| 2015-12-31 | ฿23.55 | ฿33.75 | x |
| 2016-12-31 | ฿22.09 | ฿33.75 | x |
| 2017-12-31 | ฿22.92 | ฿33.75 | x |
| 2018-12-31 | ฿26.69 | ฿33.75 | x |
| 2019-12-31 | ฿55.99 | ฿33.75 | x |
| 2020-12-31 | ฿36.50 | ฿33.75 | x |
| 2021-12-31 | ฿38.43 | ฿33.75 | x |
| 2022-12-31 | ฿37.15 | ฿33.75 | x |
| 2023-12-31 | ฿37.67 | ฿33.75 | x |
| 2024-12-31 | ฿37.71 | ฿33.75 | x |
| 2025-12-31 | ฿37.03 | ฿33.75 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Global Power Synergy PCL utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 6.13%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.54%
- • Asset Turnover: 0.32x
- • Equity Multiplier: 2.53x
- Recent ROE (6.13%) is above the historical average (5.77%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | 4.80% | 4.47% | 0.59x | 1.81x | ฿-1.24 Billion |
| 2014 | 6.25% | 6.65% | 0.55x | 1.70x | ฿-947.92 Million |
| 2015 | 5.29% | 8.45% | 0.40x | 1.55x | ฿-1.69 Billion |
| 2016 | 7.27% | 13.00% | 0.36x | 1.56x | ฿-1.02 Billion |
| 2017 | 8.24% | 15.85% | 0.33x | 1.56x | ฿-680.11 Million |
| 2018 | 8.40% | 13.50% | 0.39x | 1.61x | ฿-640.01 Million |
| 2019 | 5.95% | 9.02% | 0.26x | 2.50x | ฿-4.09 Billion |
| 2020 | 7.30% | 10.79% | 0.27x | 2.49x | ฿-2.78 Billion |
| 2021 | 6.76% | 9.77% | 0.28x | 2.50x | ฿-3.51 Billion |
| 2022 | 1.39% | 1.18% | 0.43x | 2.76x | ฿-9.02 Billion |
| 2023 | 3.48% | 4.09% | 0.32x | 2.65x | ฿-6.93 Billion |
| 2024 | 3.78% | 4.48% | 0.31x | 2.68x | ฿-6.69 Billion |
| 2025 | 6.13% | 7.54% | 0.32x | 2.53x | ฿-4.04 Billion |
Industry Comparison
This section compares Global Power Synergy PCL's net assets metrics with peer companies in the Utilities - Regulated Electric industry.
Industry Context
- Industry: Utilities - Regulated Electric
- Average net assets among peers: $42,752,262,284
- Average return on equity (ROE) among peers: 7.31%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Global Power Synergy PCL (GPSC) | ฿116.44 Billion | 4.80% | 1.27x | $626.46 Million |
| Global Power Synergy Public Company Limited (GPSC-R) | $110.18 Billion | 5.45% | 1.29x | $801.90 Million |
| Ratch Group Public Company Limited (RATCH) | $16.19 Billion | 0.00% | 1.29x | $899.39 Million |
| Sahacogen (Chonburi) Public Company Limited (SCG) | $1.89 Billion | 16.48% | 1.60x | $11.35 Million |