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Noble Development PCL (BKK:NOBLE) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Jun. 2026) net income data. The Revenue data used here is four times the quarterly (Jun. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
* 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 Real Estate - Development subindustry, Noble Development PCL's ROE %, along with its competitors' market caps and ROE % 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.
Noble Development PCL ROE % vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Noble Development PCL's ROE % distribution charts can be found below:
* The bar in red indicates where Noble Development PCL's ROE % 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 ROE %, the net income of the last fiscal year and the average total shareholder equity 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.
ROE % is displayed in the 30-year financial page.
Noble Development PCL (BKK:NOBLE) has a ROE % of -25.36% as of Jun. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Noble Development PCL and its competitors. Over the past decade, Noble Development PCL's ROE % has ranged from 2.99 to 45.75. According to the industry distribution chart, Noble Development PCL ranks #968 out of 1734 companies in the Real Estate industry, placing it in the top 55.8%.
Is Noble Development PCL's ROE % too high?
Noble Development PCL's current ROE % is -25.36%. Over the past 10 years, this metric has ranged from a low of 2.99 to a high of 45.75. Based on the distribution chart, Noble Development PCL ranks #968 out of 1734 companies in the Real Estate industry, which is below the industry midpoint. Overall, Noble Development PCL has a GF Score™ of 58/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Noble Development PCL's ROE % compare to competitors?
According to the Real Estate industry distribution chart, Noble Development PCL ranks #968 out of 1734 companies for ROE %. This places Noble Development PCL in the lower half of its industry. The industry median ROE % is 4.15. Historically, Noble Development PCL's own ROE % has ranged from 2.99 to 45.75 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % for a Real Estate company?
The median ROE % among Real Estate companies is 4.15, based on 1,734 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Noble Development PCL and its competitors. For the Real Estate industry, the median ROE % is 4.15 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Noble Development PCL's current ROE % is -25.36%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Noble Development PCL stock overvalued right now?
Based on GuruFocus' analysis, Noble Development PCL (BKK:NOBLE) is currently considered Modestly Undervalued. The stock's GF Value™ is ฿2.08, compared to a current price of ฿1.62 — trading 22.1% below its estimated fair value. The current ROE % is -25.36%. Noble Development PCL's overall GF Score™ is 58/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Noble Development PCL (BKK:NOBLE), the current ROE % is -25.36% 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.
Is Noble Development PCL (BKK:NOBLE) Overvalued in 2026?
Based on GuruFocus' analysis, Noble Development PCL stock appears to be undervalued.
The current stock price of ฿1.62 is trading 22.1% below its estimated GF Value™ of ฿2.08.
GuruFocus considers Noble Development PCL to be Modestly Undervalued.
Key valuation signals for BKK:NOBLE:
ROE %: -25.36%
GF Value™: ฿2.08 vs. price of ฿1.62 (22.1% below fair value)
No single metric tells the full story. See the BKK:NOBLE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Noble Development PCL is a Thailand-based real estate company. Along with its subsidiaries, the firm is engaged in the development of real estate for sale, providing construction, rental and service, construction consulting services, and manufacturing and sale of furniture in Thailand. Its segments are Condominium, House and land, Rental and service business, and Others.
58GF Score
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