ELECTRICITY GENERATING PUBLIC CO., LTD. UNSPONSORED ADR (EYUBY)

Tuesday

1:03 PM

Thesis: Recent regulatory changes and strategic pivots towards renewable energy are expected to stabilize revenue and enhance growth potential.

Revenue Outlook

Metric	FY2024	FY2025
Revenue	$40.3B	$30.8B
Rev. Growth	-18.8%	-23.7%
EPS	$41.16	$34.36
EPS Growth	+165%	-16.5%
P/E	0.4×	0.4×

What’s Driving the Stock

1The company is increasing its investment in renewable energy projects, targeting a 25% increase in capacity by 2028.
2Recent regulatory discussions indicate potential for higher electricity tariffs, which could enhance revenue stability.
3The company has secured a new long-term PPA with EGAT, expected to add $1.2B in revenue over the next decade.
4Transition to renewable energy sources
5Regulatory shifts towards sustainable energy practices
6Changes in regulatory frameworks affecting power pricing and capacity
7Fluctuations in natural gas prices impacting operational costs
8Demand for electricity in Thailand, particularly during peak seasons

FY2025 Snapshot

Revenue: $30.8B
Rev. Growth: -23.7%
Gross Margin: 15.0%
Op. Margin: 6.1%
Net Margin: 14.7%
Net Income: $4.5B
NI Growth: -16.3%
EPS: $34.36
1Y Return: -31.8%

My Notes

"Management stated, 'We are committed to diversifying our energy portfolio and enhancing our long-term contracts with EGAT.'"
Moat: The company's regulated status and long-term contracts provide a moderate moat, but increasing competition from IPPs poses a threat.
value - due to its stable cash flows and low Price/Book ratio of 0.6x, which may appeal to value-oriented investors.
Interest rates affect the company's financing costs for capital projects.
Watch on earnings: Natural gas prices (DCOILWTICO), Electricity demand growth in Thailand, Regulatory changes impacting power pricing.

One Sentence Summary:

Electricity Generating Public Co., Ltd. Unsponsored ADR: the setup is constructive — the company is increasing its investment in renewable energy projects, targeting a 25% increase in capacity by 2028.

Auto-composed from Stock Alarm intelligence, financial statements, and analyst estimates. Not investment advice.

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