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Global Power Synergy PCL
SET:GPSC

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Global Power Synergy PCL
SET:GPSC
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Price: 35.5 THB 2.16% Market Closed
Market Cap: ฿100.1B

EV/EBITDA

8.8
Current
18%
Cheaper
vs 3-y median of 10.8

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
8.8
=
Enterprise Value
฿198B
/
EBITDA
฿20.1B

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
8.8
=
Enterprise Value
฿198B
/
EBITDA
฿20.1B

Valuation Scenarios

Global Power Synergy PCL is trading below its 3-year average

If EV/EBITDA returns to its 3-Year Average (10.8), the stock would be worth ฿43.43 (22% upside from current price).

Statistics
Positive Scenarios
3/4
Maximum Downside
-2%
Maximum Upside
+47%
Average Upside
20%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 8.8 ฿35.5
0%
3-Year Average 10.8 ฿43.43
+22%
5-Year Average 13 ฿52.26
+47%
Industry Average 9.9 ฿39.84
+12%
Country Average 8.6 ฿34.69
-2%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
฿198B
/
Jan 2026
฿20.1B
=
8.8
Current
฿198B
/
Dec 2026
฿18.6B
=
10.6
Forward
฿198B
/
Dec 2027
฿18.5B
=
10.7
Forward
฿198B
/
Dec 2028
฿17.4B
=
11.4
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
TH
Global Power Synergy PCL
SET:GPSC
100.1B THB 8.8 16.2
US
Vistra Corp
NYSE:VST
56B USD 14.7 74.4
SA
ACWA Power Co
SAU:2082
184.5B SAR 64.7 99.6
IN
NTPC Ltd
NSE:NTPC
3.8T INR 10.2 15.7
IN
Adani Power Ltd
NSE:ADANIPOWER
3.7T INR 20 32.5
CN
CGN Power Co Ltd
SZSE:003816
223.2B CNY 21.7 22.9
TH
Gulf Energy Development PCL
SET:GULF
877.7B THB 46.3 41
CN
China National Nuclear Power Co Ltd
SSE:601985
180.2B CNY 20 20.9
DE
Uniper SE
XETRA:UN0
16.8B EUR 7.6 12
US
Talen Energy Corp
NASDAQ:TLN
16.6B USD 65.5 -76.4
CN
SDIC Power Holdings Co Ltd
SSE:600886
106.7B CNY 12.8 16.3

Market Distribution

In line with most companies in Thailand
Percentile
52nd
Based on 406 companies
52nd percentile
8.8
Low
0.2 — 6.6
Typical Range
6.6 — 11.4
High
11.4 —
Distribution Statistics
Thailand
Min 0.2
30th Percentile 6.6
Median 8.6
70th Percentile 11.4
Max 3 584.8

Global Power Synergy PCL
Glance View

Market Cap
100.1B THB
Industry
Utilities

Global Power Synergy PCL (GPSC) stands as a prominent player in Thailand's energy sector, weaving a strategic tapestry of diversified power generation solutions. As a core energy business arm of the PTT Group, GPSC has cemented its status by investing in a mix of conventional and renewable energy resources. Anchored in thermal power plants, the company ensures stability and consistency in energy supply, drawing upon natural gas and coal to fulfill a significant portion of Thailand’s electricity demands. However, GPSC isn’t just content with traditional generation; it actively dances to the rhythm of innovation, driving an ambitious pivot towards renewable energy. Solar farms, wind turbines, and even energy storage solutions form an integral part of its portfolio, reflecting its commitment to a sustainable energy future. What truly sets GPSC apart in its industry is its ability to integrate technology into its operational and strategic frameworks. Beyond mere power generation, the company delves into energy storage and intelligent grid technologies, effectively modernizing the way energy is managed and distributed. Through these ventures, GPSC not only stabilizes grid performance but also monetizes enhanced energy efficiency. Revenue streams flow from various channels—whether through power purchase agreements, investments in cutting-edge renewable technologies, or cooperation with government and private sector entities to manage and optimize energy solutions. As GPSC continues to balance its conventional roots with a forward-looking embrace of renewables, it strategically positions itself to capture emerging opportunities within an ever-evolving global energy landscape.

GPSC Intrinsic Value
57.9 THB
Undervaluation 39%
Intrinsic Value
Price ฿35.5
G
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