Global Power Synergy PCL (GPSC) - Net Assets

Latest as of December 2025: ฿116.44 Billion THB ≈ $3.63 Billion USD

Based on the latest financial reports, Global Power Synergy PCL (GPSC) has net assets worth ฿116.44 Billion THB (≈ $3.63 Billion USD) 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 ≈ $8.24 Billion USD) and total liabilities (฿147.82 Billion ≈ $4.61 Billion USD). 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. Check Global Power Synergy PCL liquid asset ratio to evaluate the company's liquid asset resilience ratio.

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. Also explore how large is Global Power Synergy PCL's balance sheet for the complete picture of this company's asset base.

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. For live valuation and market cap data, see market cap of Global Power Synergy PCL.

Year Net Assets Change
2025-12-31 ฿116.44 Billion
≈ $3.63 Billion		 -2.27%
2024-12-31 ฿119.14 Billion
≈ $3.71 Billion		 +1.38%
2023-12-31 ฿117.52 Billion
≈ $3.66 Billion		 +2.11%
2022-12-31 ฿115.10 Billion
≈ $3.59 Billion		 -2.25%
2021-12-31 ฿117.75 Billion
≈ $3.67 Billion		 +5.26%
2020-12-31 ฿111.87 Billion
≈ $3.49 Billion		 +1.54%
2019-12-31 ฿110.18 Billion
≈ $3.43 Billion		 +160.16%
2018-12-31 ฿42.35 Billion
≈ $1.32 Billion		 +4.89%
2017-12-31 ฿40.37 Billion
≈ $1.26 Billion		 +4.18%
2016-12-31 ฿38.75 Billion
≈ $1.21 Billion		 +4.38%
2015-12-31 ฿37.13 Billion
≈ $1.16 Billion		 +42.70%
2014-12-31 ฿26.02 Billion
≈ $810.96 Million		 +6.80%
2013-12-31 ฿24.36 Billion
≈ $759.31 Million		 --

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
CITY DEV.LTD.ADR/1 SD-50
F:CDE0
 $3.06 Billion
Telefonaktiebolaget LM Ericsson (publ)
ST:ERIC-A
 $3.06 Billion
Lakala Payment Co Ltd
SHE:300773
 $3.06 Billion
Quilter PLC
JSE:QLT
 $3.06 Billion
Amber Enterprises India Limited
NSE:AMBER
 $3.05 Billion
Multiplan Empreendimentos Imobiliários S.A
SA:MULT3
 $3.05 Billion
Aalberts Industries NV
AS:AALB
 $3.05 Billion
ZIM Integrated Shipping Services Ltd.
F:2SV
 $3.05 Billion

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: 0.94x
  • 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 2.44x to 0.94x 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 ฿34.75 x
2014-12-31 ฿15.03 ฿34.75 x
2015-12-31 ฿23.55 ฿34.75 x
2016-12-31 ฿22.09 ฿34.75 x
2017-12-31 ฿22.92 ฿34.75 x
2018-12-31 ฿26.69 ฿34.75 x
2019-12-31 ฿55.99 ฿34.75 x
2020-12-31 ฿36.50 ฿34.75 x
2021-12-31 ฿38.43 ฿34.75 x
2022-12-31 ฿37.15 ฿34.75 x
2023-12-31 ฿37.67 ฿34.75 x
2024-12-31 ฿37.71 ฿34.75 x
2025-12-31 ฿37.03 ฿34.75 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: $31,432,520,222
  • Average return on equity (ROE) among peers: 10.97%

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 $3.05 Billion
Ratch Group Public Company Limited (RATCH) $60.52 Billion 10.39% 0.85x $1.97 Billion
Sahacogen (Chonburi) Public Company Limited (SCG) $2.34 Billion 11.55% 1.64x $82.70 Million

About Global Power Synergy PCL

BK:GPSC Thailand Utilities - Regulated Electric
Market Cap
$3.05 Billion
฿97.99 Billion THB
Market Cap Rank
#4874 Global
#27 in Thailand
Share Price
฿34.75
Change (1 day)
-0.71%
52-Week Range
฿27.50 - ฿45.00
All Time High
฿89.72
Categories
Companies in Thailand Utilities - Regulated Electric
About

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