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Thai stocks · SET · Resources · Energy and utilities
Held by 2 funds2 open to buy1 AMCs
Last close (THB)49.50+1.50 (+3.13%)as of 4 Nov 2026
Funds that hold it2One fund per scheme
Held through a master fund02 buy the stock themselves
Largest weight in a single fund4.43%Of that fund's NAV
Median weight4.19%Half the funds hold more than this
What does GPSC do
Global Power Synergy PCL
Generates electricity, steam and chilled water for EGAT and factories in industrial estates under long-term contracts, so revenue is fairly steady, but profit rises and falls with the price of the gas and coal it burns and with earnings from joint-venture power plants
Electricity sold to EGATElectricity and steam for industrial plantsChilled water and process waterSolar and wind power plantsPower plant operation and maintenance
Where the revenue comes from, and how much is left as profit (FY2025)
For every 100 baht of sales: cost of sales 86 · operating expenses 2 · other income adds 2 · tax and other items 6 · leaving 8 as net profit
Which funds let you invest in GPSC
Sorted by weight held, largest first
Investors in Thailand can buy GPSC through 2 mutual funds open to retail investors. Every one of them buys the stock directly.
The many funds holding less than 3% are usually index funds holding at market weight · Funds holding more than 8% have deliberately chosen a large position
How many funds each AMC holds it through
SCBAM
Data sourcesFunds that buy the stock themselves: top 5 holdings from the AMC's fact sheet as of 30 Sep 2026 · Funds that invest through a master fund: the master fund's portfolio from its issuer's fact sheet or prospectus · Each scheme counts as one fund · Share price: Market data · Financial statements: SEC Thailand (audited financial statements) · Ratios: Market data · Revenue by business segment: SEC Thailand (audited financial statements) · Weights are as of the report date, and funds can change their portfolios at any time · Investing involves risk. This is not investment advice.
3.94%
Buys the stock directly
+42.32%
Showing 2 of 2 funds you can buy · The full list is in the Expert view · Latest weights from portfolio reports, and funds can change their portfolios at any time · Past performance is not a guarantee of future performance
Valuation and key ratios
Global Power Synergy PCL · SET · Fiscal year ends in December
Market cap139.6B THB2.82 billion shares
P/E21.8xPrice ÷ FY2025 EPS 2.27
Forward P/E19.9xBased on forecast 12-month earnings
P/S1.7x
EV/EBITDA10.8x
Dividend yield3.03%1.50 THB per share a year
ROE6.0%Net profit ÷ shareholders' equity
Debt to equity (D/E)1.07xInterest-bearing debt
Beta1.62Against SET50 (TDEX fund)
Gross margin13.9%FY2025
Operating margin13.7%FY2025
Net margin7.5%FY2025
Price ratios use the latest close shown on this page · Forward P/E, P/S and EV/EBITDA from Market data · Beta from 5 years of monthly returns · Total dividends over the last 12 months
Company health made simple
From the FY2025 statements
Sales growth−11.8%Slow growth
Yearly average over the last 3 years · Latest annual sales 84.9B THB
Profit from sales8%Thin margin
For every 100 baht of sales, about 8 baht is left as net profit
Dividend3.03%Pays dividends
Per year, relative to the share price · Tech stocks tend to pay little because they reinvest their profits
1-year share price+24.5%Up
Now 9.2% below its 1-year high
A rise or fall in the share price doesn't move a fund by the same amount — a fund is affected only in proportion to how much it holds
Financial statements
Revenue grows −11.8% a year on average · EPS grows 92.1% a year on average
Annual · last 4 fiscal years
Revenue and net profit
FY2022123.7B THB891.5M THB
FY202390.3B THB3.7B THB
FY202490.7B THB4.1B THB
FY202584.9B THB6.4B THB
Total revenue
Net profit
Quarterly · last 5 quarters
Revenue and net profit
Q2 FY202522.5B THB2.0B THB
Q3 FY202521.6B THB1.7B THB
Q4 FY202519.5B THB1.5B THB
Q1 FY202616.6B THB1.7B THB
Q2 FY202621.7B THB1.8B THB
Annual income statement, balance sheet and cash flow
Item (THB)
FY2022
FY2023
FY2024
FY2025
Total revenue
123.7B THB
90.3B THB
90.7B THB
84.9B THB
Gross profit
3.4B THB
10.0B THB
11.4B THB
11.8B THB
Operating profit
3.8B THB
9.6B THB
10.7B THB
Free cash flow = operating cash flow − capital expenditure · A cell showing N/A is an item the statement doesn't report, not a zero · Source: SEC Thailand (audited financial statements)
Technical analysis
Closed at 49.50 THB on 4 Nov 2026
Daily trendClear downtrendScore −0.50 on a scale of −1 to +1 · 1211 bars
RSI(14)
49.0
ADX(14)
15.9
Position in the price range
39%
Weekly trendClear uptrendScore 0.70 on a scale of −1 to +1 · 262 bars
RSI(14)
56.0
ADX(14)
20.9
Position in the price range
80%
Monthly trendClear uptrendScore 1.00 on a scale of −1 to +1 · 61 bars
RSI(14)
55.9
ADX(14)
22.1
Position in the price range
79%
Moving averages (daily)
Period
SMA
EMA
Price vs line
10 days
50.03
49.59
Below
20 days
49.91
49.68
Below
50 days
49.88
49.47
Below
100 days
48.98
47.90
Above
200 days
Indicators (daily)
Indicator
Value
Signal
RSI(14)
49.02
Down
MACD(12,26)
−0.04
Down
ADX(14)
15.85
Neutral
ATR(14) % of price
1.43
Neutral
Support and resistance (weekly pivots)
s346
s248
s1
Trend score = average of the moving-average group and the indicator group ((up signals − down signals) ÷ number of signals) · RSI and ATR use Wilder's method · MACD uses the 12- and 26-period EMA · An ADX of 25 or above counts as a clear trend · Calculated from daily closing prices from Market data · Not investment advice
One fund counted per scheme · Funds investing through a master fund show the master fund's weight in GPSC, not the look-through weight · Past performance is not a guarantee of future performance
SCBTHAICGASCB Thai Equity CG Fund