Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Gulf Development PCLBKK:GULF -1.14%16 PB Ratio is 2.81 as of Jul. 29, 2026, which is 13% above its 10-year median of 2.49. GuruFocus rates BKK:GULF with a GF Score™ of 16/100. The stock has 12 warning signs investors should review. Among 433 Utilities - Independent Power Producers companies, Gulf Development PCL ranks worse than 75.52% on this metric.
During the past 12 months, Gulf Development PCL's average Book Value Per Share Growth Rate was 199.10% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 33.50% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 25.30% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 38.20% per year.
During the past 12 years, the highest 3-Year average Book Value Per Share Growth Rate of Gulf Development PCL was 84.40% per year. The lowest was 8.70% per year. And the median was 34.50% per year.
Back to Basics: PB Ratio
Gulf Development PCL (BKK:GULF) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Gulf Development PCL PB Ratio Related Terms
Gulf Development PCL PB Ratio Historical Data
* Premium members only.
The historical data trend for Gulf Development PCL's PB Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Utilities - Independent Power Producers subindustry, Gulf Development PCL's PB Ratio, along with its competitors' market caps and PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Gulf Development PCL PB Ratio vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Gulf Development PCL's PB Ratio distribution charts can be found below:
* The bar in red indicates where Gulf Development PCL's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Gulf Development PCL (BKK:GULF) has a PB Ratio of 2.81 as of Jul. 29, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Gulf Development PCL and its competitors. This is 13% above median its historical median of 2.49. Over the past decade, Gulf Development PCL's PB Ratio has ranged from 1.86 to 6.48. According to the industry distribution chart, Gulf Development PCL ranks #327 out of 433 companies in the Utilities - Independent Power Producers industry, placing it in the top 75.5%.
Is Gulf Development PCL's PB Ratio too high?
Gulf Development PCL's current PB Ratio of 2.81 is 13% above median its 10-year median of 2.49. Over the past 10 years, this metric has ranged from a low of 1.86 to a high of 6.48. The Utilities - Independent Power Producers industry median PB Ratio is 1.29. Gulf Development PCL's value of 2.81 is 117.8% above this industry median. Based on the distribution chart, Gulf Development PCL ranks #327 out of 433 companies in the Utilities - Independent Power Producers industry, which is in the bottom quartile relative to peers. Overall, Gulf Development PCL has a GF Score™ of 16/100, reflecting its overall financial health beyond just this single metric.
How does Gulf Development PCL's PB Ratio compare to CEG and VST?
According to the Utilities - Independent Power Producers industry distribution chart, Gulf Development PCL ranks #327 out of 433 companies for PB Ratio. This places Gulf Development PCL in the lower half of its industry. The industry median PB Ratio is 1.29. Gulf Development PCL's value of 2.81 is 117.8% above this benchmark. Historically, Gulf Development PCL's own PB Ratio has ranged from 1.86 to 6.48 over the past decade. While the company's 10-year median is 2.49 vs. the industry median of 1.29, Gulf Development PCL has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for an Utilities - Independent Power Producers company?
The median PB Ratio among Utilities - Independent Power Producers companies is 1.29, based on 433 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Gulf Development PCL's current PB Ratio of 2.81 is 117.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Gulf Development PCL and its competitors. For the Utilities - Independent Power Producers industry, the median PB Ratio is 1.29 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Gulf Development PCL's current PB Ratio is 2.81, which is 13% above median its own 10-year median of 2.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Gulf Development PCL stock overvalued right now?
Gulf Development PCL (BKK:GULF) has a current PB Ratio of 2.81. The current PB Ratio is 2.81, which is 13% above median its 10-year median of 2.49 and 117.8% above the Utilities - Independent Power Producers industry median of 1.29. Gulf Development PCL's overall GF Score™ is 16/100 with 12 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Gulf Development PCL (BKK:GULF), the current PB Ratio is 2.81 as of Jul. 29, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Gulf Development PCL is a Thailand-based company mainly involved in the electricity-generating business. The group's principal operations are to generate and sell electricity and steam, store and convert natural gas from liquid to gas, provide satellite services, and operate other businesses in domestic and international markets. It is also involved in the business of renewable energy, such as solar rooftops and biomass energy. The group's reportable segments are: Power business (which generates maximum revenue), Consulting business, Infrastructure business, and Satellite and digital business. Geographically, it derives maximum revenue from Thailand.
16GF Score
Get the complete analysis for BKK:GULF
PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
BKK:GULF has been successfully added to your 
