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Gulf Development Public Company Limited (GULF) Financial History

4 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

Utilities · Utilities - Independent Power Producers · DATA UPDATED 2026-08-22

Gulf Development Public Company Limited (GULF) operates in the Utilities - Independent Power Producers industry and is headquartered in Bangkok, Thailand. Its market capitalization is roughly THB 956 billion. In the fiscal year ended 2024-12-31, GULF reported THB 120.9B in revenue and THB 18.2B in net income.

Gulf Development Public Company Limited generates and sells electricity and steam to public and private clients in Thailand and internationally. The company operates through Power Business, Consulting Business, Infrastructure Business and Satellite and Digital Business segments.

Interactive charts & full statements →

GULF Revenue & Earnings History — Annual Income Statement

Income statement	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Total Revenue	THB 120.9B	THB 114.1B	THB 94.2B	THB 47.5B
Gross Profit	THB 23.7B	THB 22.0B	THB 19.4B	THB 13.1B
Operating Income (EBIT)	THB 20.7B	THB 18.8B	THB 17.1B	THB 10.8B
Net Income	THB 18.2B	THB 14.9B	THB 11.4B	THB 7.7B

THB; THBM / THBB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

GULF Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31
Total Revenue	THB 44.5B	THB 37.6B	THB 31.3B	THB 29.0B	THB 38.5B	—
Gross Profit	THB 7.4B	THB 8.0B	THB 6.5B	THB 6.5B	THB 6.5B	—
Operating Income (EBIT)	THB 7.8B	THB 7.7B	THB 5.2B	THB 5.6B	THB 5.6B	—
Net Income	THB 12.4B	THB 9.1B	THB 8.9B	THB 7.3B	THB 63.9B	—

THB; THBM / THBB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

GULF Free Cash Flow History

Cash flow	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Dividends Paid	(THB 10.3B)	(THB 7.0B)	(THB 5.2B)	(THB 4.5B)

THB; THBM / THBB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

GULF Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31
Dividends Paid	(THB 48.6B)	THB 0M	THB 0M	THB 0M	THB 0M	—	—

THB; THBM / THBB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

GULF Balance Sheet History

Balance sheet	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Total Assets	THB 773.8B	THB 496.2B	THB 459.5B	THB 418.2B	—
Total Liabilities	THB 407.9B	THB 342.4B	THB 315.4B	THB 282.4B	—

THB; THBM / THBB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive GULF viewer.

GULF Metric Deep Dives

Other Companies in Utilities - Independent Power Producers

9508 · Kyushu Electric Power Company, Incorporated — JPY 848 billion
1816 · CGN Power Co., Ltd. — HK$144 billion
0006 · Power Assets Holdings Limited — HK$123 billion
0836 · China Resources Power Holdings Company Limited — HK$97 billion
0902 · Huaneng Power International, Inc. — HK$93 billion
EGCO · Electricity Generating Public Company Limited — THB 69 billion
BGRIM · B.Grimm Power Public Company Limited — THB 49 billion
0991 · Datang International Power Generation Co., Ltd. — HK$46 billion

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