2S Metal Public Company Limited
2S Metal Public Company Limited, together with its subsidiaries, manufactures and sells steel pipes, steel plates, light lip channels, and steel wire mesh products in Thailand and Lao People's Democratic Republic. It operates in two segments, Production and Trading. The company offers cold-formed steel, hot dipped galvanized steel pipes/galvanized steel pipes, H-beams, I-beams, angle bars/channel… Read more
2S Metal Public Company Limited (2S) - Net Assets
Latest net assets as of September 2025: ฿2.04 Billion THB
Based on the latest financial reports, 2S Metal Public Company Limited (2S) has net assets worth ฿2.04 Billion THB as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿2.54 Billion) and total liabilities (฿497.88 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ฿2.04 Billion |
| % of Total Assets | 80.39% |
| Annual Growth Rate | 10.49% |
| 5-Year Change | 10.0% |
| 10-Year Change | 153.73% |
| Growth Volatility | 15.0 |
2S Metal Public Company Limited - Net Assets Trend (2008–2024)
This chart illustrates how 2S Metal Public Company Limited's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for 2S Metal Public Company Limited (2008–2024)
The table below shows the annual net assets of 2S Metal Public Company Limited from 2008 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ฿1.93 Billion | -4.02% |
| 2023-12-31 | ฿2.01 Billion | -0.17% |
| 2022-12-31 | ฿2.02 Billion | -11.52% |
| 2021-12-31 | ฿2.28 Billion | +29.75% |
| 2020-12-31 | ฿1.76 Billion | +27.43% |
| 2019-12-31 | ฿1.38 Billion | +4.83% |
| 2018-12-31 | ฿1.31 Billion | +2.65% |
| 2017-12-31 | ฿1.28 Billion | +21.98% |
| 2016-12-31 | ฿1.05 Billion | +37.91% |
| 2015-12-31 | ฿761.09 Million | +8.71% |
| 2014-12-31 | ฿700.13 Million | +1.37% |
| 2013-12-31 | ฿690.69 Million | +10.27% |
| 2012-12-31 | ฿626.36 Million | +3.75% |
| 2011-12-31 | ฿603.72 Million | +4.89% |
| 2010-12-31 | ฿575.58 Million | +3.87% |
| 2009-12-31 | ฿554.15 Million | +41.54% |
| 2008-12-31 | ฿391.53 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to 2S Metal Public Company Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 483.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿1.19 Billion | 61.39% |
| Common Stock | ฿550.00 Million | 28.44% |
| Other Comprehensive Income | ฿104.92 Million | 5.42% |
| Other Components | ฿91.94 Million | 4.75% |
| Total Equity | ฿1.93 Billion | 100.00% |
2S Metal Public Company Limited Competitors by Market Cap
The table below lists competitors of 2S Metal Public Company Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Seoam Machinery Industry Co.Ltd
KQ:100660
|
$15.33 Million |
|
Kencana Agri Limited
F:KEBA
|
$15.35 Million |
|
Samwha Elec
KO:011230
|
$15.35 Million |
|
UAC Global Public Company Limited
BK:UAC
|
$15.35 Million |
|
Park Elektrik Uretim Madencilik Sanayi ve Ticaret AS
IS:PRKME
|
$15.32 Million |
|
Mirae ING Co Ltd
KO:007120
|
$15.32 Million |
|
Reitar Logtech Holdings Limited Ordinary shares
NASDAQ:RITR
|
$15.32 Million |
|
Fu Burg Industrial Co Ltd
TWO:8929
|
$15.32 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in 2S Metal Public Company Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 2,014,741,000 to 1,934,119,000, a change of -80,622,000 (-4.0%).
- Net income of 23,578,000 contributed positively to equity growth.
- Dividend payments of 104,499,000 reduced retained earnings.
- Other comprehensive income increased equity by 299,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿23.58 Million | +1.22% |
| Dividends Paid | ฿104.50 Million | -5.4% |
| Other Comprehensive Income | ฿299.00K | +0.02% |
| Total Change | ฿- | -4.00% |
Book Value vs Market Value Analysis
This analysis compares 2S Metal Public Company Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.71x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 2.05x to 0.71x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2008-12-31 | ฿1.22 | ฿2.50 | x |
| 2009-12-31 | ฿1.50 | ฿2.50 | x |
| 2010-12-31 | ฿1.26 | ฿2.50 | x |
| 2011-12-31 | ฿1.32 | ฿2.50 | x |
| 2012-12-31 | ฿1.14 | ฿2.50 | x |
| 2013-12-31 | ฿1.26 | ฿2.50 | x |
| 2014-12-31 | ฿1.27 | ฿2.50 | x |
| 2015-12-31 | ฿1.39 | ฿2.50 | x |
| 2016-12-31 | ฿1.91 | ฿2.50 | x |
| 2017-12-31 | ฿2.33 | ฿2.50 | x |
| 2018-12-31 | ฿2.39 | ฿2.50 | x |
| 2019-12-31 | ฿2.51 | ฿2.50 | x |
| 2020-12-31 | ฿3.20 | ฿2.50 | x |
| 2021-12-31 | ฿4.14 | ฿2.50 | x |
| 2022-12-31 | ฿3.67 | ฿2.50 | x |
| 2023-12-31 | ฿3.66 | ฿2.50 | x |
| 2024-12-31 | ฿3.52 | ฿2.50 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently 2S Metal Public Company Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 1.22%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.32%
- • Asset Turnover: 3.57x
- • Equity Multiplier: 1.08x
- Recent ROE (1.22%) is below the historical average (13.44%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2008 | 28.82% | 4.04% | 5.00x | 1.43x | ฿73.69 Million |
| 2009 | 16.58% | 3.59% | 2.80x | 1.65x | ฿36.45 Million |
| 2010 | 12.41% | 2.54% | 2.74x | 1.78x | ฿13.87 Million |
| 2011 | 10.76% | 1.76% | 3.49x | 1.76x | ฿4.61 Million |
| 2012 | 8.40% | 1.30% | 3.24x | 2.00x | ฿-9.99 Million |
| 2013 | 9.85% | 1.66% | 3.35x | 1.77x | ฿-1.04 Million |
| 2014 | 5.98% | 0.99% | 3.51x | 1.72x | ฿-28.12 Million |
| 2015 | 4.42% | 0.91% | 3.05x | 1.59x | ฿-42.60 Million |
| 2016 | 32.58% | 8.72% | 2.24x | 1.67x | ฿237.77 Million |
| 2017 | 22.21% | 6.29% | 2.34x | 1.51x | ฿156.52 Million |
| 2018 | 8.02% | 1.94% | 2.93x | 1.41x | ฿-26.04 Million |
| 2019 | 9.67% | 2.47% | 3.05x | 1.28x | ฿-4.57 Million |
| 2020 | 23.34% | 7.32% | 2.54x | 1.25x | ฿234.42 Million |
| 2021 | 32.36% | 11.31% | 2.65x | 1.08x | ฿509.59 Million |
| 2022 | -6.10% | -1.83% | 2.93x | 1.13x | ฿-324.85 Million |
| 2023 | 7.95% | 2.36% | 3.11x | 1.08x | ฿-41.39 Million |
| 2024 | 1.22% | 0.32% | 3.57x | 1.08x | ฿-169.83 Million |
Industry Comparison
This section compares 2S Metal Public Company Limited's net assets metrics with peer companies in the Steel industry.
Industry Context
- Industry: Steel
- Average net assets among peers: $3,920,416,615
- Average return on equity (ROE) among peers: 1.80%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| 2S Metal Public Company Limited (2S) | ฿2.04 Billion | 28.82% | 0.24x | $15.33 Million |
| Asia Metal Public Company Limited (AMC) | $1.58 Billion | 7.16% | 1.61x | $6.99 Million |
| Bangsaphan Barmill Public Company Limited (BSBM) | $1.82 Billion | -2.65% | 0.07x | $5.50 Million |
| Capital Engineering Network Public Company Limited (CEN) | $2.42 Billion | -0.89% | 0.19x | $5.45 Million |
| Chow Steel Industries Public Company Limited (CHOW) | $520.72 Million | 0.00% | 4.33x | $8.20 Million |
| CSP Steel Center Public Company Limited (CSP) | $664.19 Million | 10.03% | 1.87x | $950.75K |
| G J Steel Public Company Limited (GJS) | $11.94 Billion | -0.06% | 0.49x | $33.84 Million |
| POSCO-Thainox Public Company Limited (INOX) | $10.76 Billion | -5.72% | 0.42x | $11.41 Million |
| Lohakit Metal Public Company Limited (LHK) | $1.64 Billion | 5.32% | 0.30x | $15.23 Million |
| M.C.S. Steel Public Company Limited (MCS) | $3.94 Billion | 3.04% | 0.72x | $112.11 Million |