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Global Power Synergy Public Company (GPSC) Fair Value & Analysis

Utilities · TH · Market cap 154B THB

GP Global Power Synergy Public Company GPSC · BK
Price49.75 THB
Fair Value38.58 THB
Upside-22.5%
Quality62/100
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Mixed Growth
Thin margins · 8.7% net margin
Moderate debt · generates free cash flow
2.79% dividend yield
Mixed vs. peers (6/15)
Narrow moat 43/100
Evidence: Medium Range 28.93 THB – 48.22 THB Share as image

Fair value as of: Jul 18, 2026

From 26 valuation models · updated 23 days ago

Share price +7.0% over the past month.

A solid business, but screening 22% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (48.22 THB). The favourable scenario is already priced in.
  • Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

80.74 THB 22.72 THB Fair Value 38.58 THB Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range 22.72 THB – 80.74 THB · fair‑value band 28.93 THB – 48.22 THB · the 49.75 THB price screens above the 38.58 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

Full chart & analysis →

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Analysis

Global Power Synergy Public Company (GPSC) currently trades at 49.75 THB, while our model-based Fair Value estimate is 38.58 THB, implying the stock looks roughly 22.5% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Utilities sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Global Power Synergy Public Company generated revenue of 80.5B THB at a net margin of 8.7%. Revenue declined 22.2% year over year. It earns a return on equity of 6.3%. Net debt stands at 115B THB. Fundamentals as of Jul 18, 2026

Our scenario range runs from 28.93 THB (bear case) to 48.22 THB (bull case); at 49.75 THB, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 94% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at -27% fair-value upside, at -22%, GPSC screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 47.49 THB 102.35 THB 191.81 THB 80
Residual Income 29.38 THB 30.45 THB 31.15 THB 76
Rev-Margin DCF 12.20 THB 36.25 THB 66.25 THB 74
All 26 models by family
DCF Models
FCF DCF 47.28 THB 104.80 THB 199.82 THB 38
Owner Earnings 25.55 THB 67.77 THB 137.52 THB 31
5Y Revenue Exit 12.20 THB 35.72 THB 65.59 THB 39
5Y EBITDA Exit 22.86 THB 56.88 THB 97.50 THB 41
5Y P/E Exit 11.29 THB 33.92 THB 58.14 THB 38
10Y Revenue Exit 22.66 THB 48.25 THB 83.33 THB 36
10Y EBITDA Exit 30.60 THB 63.42 THB 109.08 THB 37
10Y P/E Exit 23.05 THB 46.96 THB 77.32 THB 35
Earnings-Based
Graham-Dodd 15.43 THB 62.13 THB 84.50 THB 54
Lynch FV 15.49 THB 22.13 THB 28.76 THB 50
PEG = 1.0 15.49 THB 22.13 THB 28.76 THB 46
EPV 2.67 THB 59
Dividend Discount
Gordon GGM 8.72 THB 18.14 THB 28.77 THB 70
DDM Multi-Stage 8.72 THB 15.29 THB 19.03 THB 61
Multiples
P/E Multiple 30.64 THB 40.85 THB 51.06 THB 63
P/S Multiple 28.93 THB 38.58 THB 48.22 THB 58
P/B Multiple 28.93 THB 38.58 THB 48.22 THB 55
EV/EBIT 2.67 THB 15.03 THB 27.38 THB 53
EV/EBITDA 15.28 THB 31.84 THB 48.40 THB 54
EV/Revenue 8.43 THB 21.29 THB 43
Asset-Based
NCAV (Graham) 18.51 THB 24.81 THB 37.03 THB 50
Growth DCF
Growth DCF 47.49 THB 102.35 THB 191.81 THB 80
Rev-Margin DCF 12.20 THB 36.25 THB 66.25 THB 74
Economic Profit
Residual Income 29.38 THB 30.45 THB 31.15 THB 76
ROIC Compounder 2.67 THB 72
Growth Earnings
Growth-Adj P/E 24.82 THB 35.46 THB 46.09 THB 68

Widest divergence: DCF Models (48.25 THB) versus Dividend Discount (15.29 THB). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 80.5B THB
Revenue growth (YoY) -22.2%
Net margin 8.7%
Return on equity 6.3%
Free cash flow 18.8B THB FY2025
P/E ratio 22.0
More key figures
Operating margin 12.9%
EPS (TTM) 2.48 THB
Dividend yield 2.8%
EPS growth (YoY) +52.5%
Net debt 115B THB FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 58 · Market factors (momentum, volatility) 82

Profitability 25
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 92
Earnings quality: real cash, not paper profit
Fin. Strength 24
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 56
Calm price path (market factor)
Momentum 96
Price trend over the last 3–12 months (market factor)
52W Momentum 90
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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.

Full company description

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 thermal power plants. The company also engages in the maintenance, construction, and installation of electricity system services; and technical and consultancy services for power sector. It owns and operates 4,027 megawatts (MW) of power generation; 3,294 tons of steam; 7,689 cubic meters of industrial water; and 10,184 refrigerated tons of chilled water. The company was founded in 2013 and is headquartered in Bangkok, Thailand.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Global Power Synergy Public Company reported revenue of 84.9B THB in FY2025 versus 74.9B THB in FY2021, a compound +3.2%/yr. Reported net income was 6.4B THB in FY2025, compounding −3.3%/yr from FY2021.

Growth Quality 61/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
84.9B THB
Latest YoY
−6.4%
Avg. growth/yr (3Y)
−11.8%
Avg. growth/yr (5Y)
+4.1%
Avg. growth/yr (12Y)
+10.5%
Revenue +3.2%/yr
FY21 74.9B THB
FY22 124B THB
FY23 90.3B THB
FY24 90.7B THB
FY25 84.9B THB
Net income −3.3%/yr
FY21 7.3B THB
FY22 1.5B THB
FY23 3.7B THB
FY24 4.1B THB
FY25 6.4B THB

GPSC screens 22% overvalued. Compare with NextEra Energy, Inc →

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Cite: Fair Value Calculator (2026). "Global Power Synergy Public Company Fair Value". https://www.fairvalue-calculator.com/stock/GPSC

Peer Group

Utilities - Regulated Electric · 154 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 62 · Top 25%
Fair Value upside −23% · Below median
Return on equity (TTM) 6% · Below median
Return on assets 2% · Bottom 25%
Net margin (TTM) 9% · Below median
Operating margin (TTM) 13% · Below median
Revenue growth -22% · Bottom 25%
Dividend yield (TTM) 2.8% · Above median
Debt / equity 0.93× · Lower than median

Valuation Multiples vs Utilities - Regulated Electric median · lower = cheaper

P/E (TTM) 22.0× · Pricier than median
P/B 1.47× · Cheaper than median
P/S (TTM) 1.91× · Pricier than median
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 14.0× · Pricier than 75% of peers
PEG 1.91× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 3 · sector 7
FUTURE 0 · sector 32
PAST 25 · sector 39
HEALTH 54 · sector 54
DIVIDEND 56 · sector 56

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Utilities - Regulated Electric stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
NextEra Energy, Inc NEE $88.80 $32.94 -63%
The Southern Company SO $95.61 $61.06 -36%
Duke Energy Corporation DUK $126.11 $97.11 -23%
National Grid plc NGG 61,175 ARS 44,377 ARS -27%
American Electric Power Company AEP $132.50 $79.33 -40%
Dominion Energy, Inc D $70.08 $46.92 -33%
NTPC Limited NTPC ₹341.85 ₹377.16 +10%
CEZ, a. s. CEZ 232.40 PLN 159.33 PLN -31%
Power Grid Corporation POWERGRID ₹283.55 ₹252.77 -11%
China National Nuclear Power Co 601985 ¥8.91 ¥7.69 -14%

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Frequently asked questions

Is Global Power Synergy Public Company (GPSC) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of 38.58 THB versus a price of 49.75 THB, about −22% (overvalued).
What is the fair value of GPSC?
Our model-based fair value for Global Power Synergy Public Company is 38.58 THB (as of Jul 18, 2026), built from audited fundamentals. The current price is 49.75 THB.
What is the quality score of GPSC?
Global Power Synergy Public Company has a Quality Score of 62/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Global Power Synergy Public Company (GPSC)?
Global Power Synergy Public Company reported trailing-twelve-month revenue of about 80.5B THB (latest available figure, as of Jul 18, 2026).
What is the net profit margin of GPSC?
The net profit margin of Global Power Synergy Public Company is about 8.7%, meaning it keeps roughly 8.7% of revenue as net income. Based on the latest reported figures.
Does Global Power Synergy Public Company pay a dividend?
Global Power Synergy Public Company currently shows a dividend yield of about 3.58% relative to its recent price (as of Jul 18, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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