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Gulf Development PCLBKK:GULF +0.41%12 Return-on-Tangible-Asset is 3.23% as of Jun. 2026, which is 7% above its 10-year median of 3.01. GuruFocus rates BKK:GULF with a GF Score™ of 12/100. The stock has 10 warning signs investors should review. Among 449 Utilities - Independent Power Producers companies, Gulf Development PCL ranks better than 75.06% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Gulf Development PCL's annualizedNet Income for the quarter that ended in Jun. 2026 was ฿25,993 Mil. Gulf Development PCL's average total tangible assets for the quarter that ended in Jun. 2026 was ฿0 Mil. Therefore, Gulf Development PCL's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2026 was 3.23%.
The historical rank and industry rank for Gulf Development PCL's Return-on-Tangible-Asset or its related term are showing as below:
BKK:GULF'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 1.04 Med: 3.01 Max: 4.89
Current: 4.89
During the past 3 years, Gulf Development PCL's highest Return-on-Tangible-Asset was 4.89%. The lowest was 1.04%. And the median was 3.01%.
BKK:GULF's Return-on-Tangible-Asset is ranked better than 75.06% of 449
companies
in the Utilities - Independent Power Producers industry
Industry Median: 1.27
vs BKK:GULF: 4.89
Gulf Development PCL (BKK:GULF) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Gulf Development PCL Return-on-Tangible-Asset Related Terms
Gulf Development PCL Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Gulf Development PCL's Return-on-Tangible-Asset 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.
Gulf Development PCL Return-on-Tangible-Asset Chart
BKK:GULF vs CEG, VST, NRG: Return-on-Tangible-Asset Comparison
For the Utilities - Independent Power Producers subindustry, Gulf Development PCL's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Gulf Development PCL's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Gulf Development PCL's Return-on-Tangible-Asset falls into.
* 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Jun. 2026) net income data.
What does a Return-on-Tangible-Asset of 3.23% mean?
Gulf Development PCL (BKK:GULF) has a Return-on-Tangible-Asset of 3.23% as of Jun. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Gulf Development PCL and its competitors. This is near median its historical median of 3.01. Over the past decade, Gulf Development PCL's Return-on-Tangible-Asset has ranged from 1.04 to 4.89. According to the industry distribution chart, Gulf Development PCL ranks #112 out of 449 companies in the Utilities - Independent Power Producers industry, placing it in the top 24.9%.
Is Gulf Development PCL's Return-on-Tangible-Asset too high?
Gulf Development PCL's current Return-on-Tangible-Asset of 3.23% is near median its 10-year median of 3.01. Over the past 10 years, this metric has ranged from a low of 1.04 to a high of 4.89. The Utilities - Independent Power Producers industry median Return-on-Tangible-Asset is 1.27. Gulf Development PCL's value of 3.23% is 154.3% above this industry median. Based on the distribution chart, Gulf Development PCL ranks #112 out of 449 companies in the Utilities - Independent Power Producers industry, which is in the top quartile — a strong position relative to peers. Overall, Gulf Development PCL has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Gulf Development PCL's Return-on-Tangible-Asset compare to CEG and VST?
According to the Utilities - Independent Power Producers industry distribution chart, Gulf Development PCL ranks #112 out of 449 companies for Return-on-Tangible-Asset. This places Gulf Development PCL in the top 25% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 1.27. Gulf Development PCL's value of 3.23% is 154.3% above this benchmark. Historically, Gulf Development PCL's own Return-on-Tangible-Asset has ranged from 1.04 to 4.89 over the past decade. While the company's 10-year median is 3.01 vs. the industry median of 1.27, 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 Return-on-Tangible-Asset for an Utilities - Independent Power Producers company?
The median Return-on-Tangible-Asset among Utilities - Independent Power Producers companies is 1.27, based on 449 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Gulf Development PCL's current Return-on-Tangible-Asset of 3.23% is 154.3% 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Gulf Development PCL and its competitors. For the Utilities - Independent Power Producers industry, the median Return-on-Tangible-Asset is 1.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Gulf Development PCL's current Return-on-Tangible-Asset is 3.23%, which is near median its own 10-year median of 3.01. 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 Return-on-Tangible-Asset of 3.23%. The current Return-on-Tangible-Asset is 3.23%, which is near median its 10-year median of 3.01 and 154.3% above the Utilities - Independent Power Producers industry median of 1.27. Gulf Development PCL's overall GF Score™ is 12/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Gulf Development PCL (BKK:GULF), the current Return-on-Tangible-Asset is 3.23% as of Jun. 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.
12GF Score
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