Asian Insulators PCL
Asian Insulators Public Company Limited, together with its subsidiaries, designs, produces, and distributes porcelain insulators and electrical equipment in Thailand. The company offers spool, strain, line post type, pin post type, suspension, station post type, porcelain, and horizontal mounting solid core line post insulators, as well as underground cable support and ceramic glazed porcelain ca… Read more
Asian Insulators PCL (AI) - Net Assets
Latest net assets as of December 2025: ฿3.13 Billion THB
Based on the latest financial reports, Asian Insulators PCL (AI) has net assets worth ฿3.13 Billion THB as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿3.65 Billion) and total liabilities (฿519.74 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 | ฿3.13 Billion |
| % of Total Assets | 85.77% |
| Annual Growth Rate | 8.75% |
| 5-Year Change | -11.97% |
| 10-Year Change | -0.04% |
| Growth Volatility | 54.35 |
Asian Insulators PCL - Net Assets Trend (2003–2025)
This chart illustrates how Asian Insulators PCL's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Asian Insulators PCL (2003–2025)
The table below shows the annual net assets of Asian Insulators PCL from 2003 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ฿3.13 Billion | -8.07% |
| 2024-12-31 | ฿3.41 Billion | +10.45% |
| 2023-12-31 | ฿3.08 Billion | -0.52% |
| 2022-12-31 | ฿3.10 Billion | -12.86% |
| 2021-12-31 | ฿3.56 Billion | -3.02% |
| 2020-12-31 | ฿3.67 Billion | +19.57% |
| 2019-12-31 | ฿3.07 Billion | -3.17% |
| 2018-12-31 | ฿3.17 Billion | +6.85% |
| 2017-12-31 | ฿2.97 Billion | -5.35% |
| 2016-12-31 | ฿3.13 Billion | +1.91% |
| 2015-12-31 | ฿3.07 Billion | +4.03% |
| 2014-12-31 | ฿2.96 Billion | -19.57% |
| 2013-12-31 | ฿3.67 Billion | +146.38% |
| 2012-12-31 | ฿1.49 Billion | +3.06% |
| 2011-12-31 | ฿1.45 Billion | -7.62% |
| 2010-12-31 | ฿1.57 Billion | +9.39% |
| 2009-12-31 | ฿1.43 Billion | +7.68% |
| 2008-12-31 | ฿1.33 Billion | -18.14% |
| 2007-12-31 | ฿1.62 Billion | +7.27% |
| 2006-12-31 | ฿1.51 Billion | +1.49% |
| 2005-12-31 | ฿1.49 Billion | -5.06% |
| 2004-12-31 | ฿1.57 Billion | +217.59% |
| 2003-12-31 | ฿494.86 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Asian Insulators PCL'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 decreased by 264.1% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | ฿2.71 Billion | 118.41% |
| Total Equity | ฿2.29 Billion | 100.00% |
Asian Insulators PCL Competitors by Market Cap
The table below lists competitors of Asian Insulators PCL ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
S-Fuelcell co. Ltd
KQ:288620
|
$27.38 Million |
|
CrownHaitai Holdings Co Ltd Preference Shares
KO:005745
|
$27.38 Million |
|
Hana Pharm Co Ltd
KO:293480
|
$27.39 Million |
|
Trident Digital Tech Holdings Ltd American Depository Shares
NASDAQ:TDTH
|
$27.39 Million |
|
Seri Industrial S.p.A.
LSE:0Q98
|
$27.38 Million |
|
MoneyHero Limited Class A Ordinary Shares
NASDAQ:MNY
|
$27.38 Million |
|
First Resource Bank
OTCQX:FRSB
|
$27.37 Million |
|
Ni Steel
KO:008260
|
$27.35 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Asian Insulators PCL's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,429,017,331 to 2,288,921,991, a change of -140,095,340 (-5.8%).
- Net income of 65,206,433 contributed positively to equity growth.
- Dividend payments of 346,716,289 reduced retained earnings.
- Other comprehensive income decreased equity by 82,566,009.
- Other factors increased equity by 223,980,525.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿65.21 Million | +2.85% |
| Dividends Paid | ฿346.72 Million | -15.15% |
| Other Comprehensive Income | ฿-82.57 Million | -3.61% |
| Other Changes | ฿223.98 Million | +9.79% |
| Total Change | ฿- | -5.77% |
Book Value vs Market Value Analysis
This analysis compares Asian Insulators PCL'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: 0.91x
- 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 1.42x to 0.91x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-12-31 | ฿2.09 | ฿2.98 | x |
| 2007-12-31 | ฿2.32 | ฿2.98 | x |
| 2008-12-31 | ฿1.84 | ฿2.98 | x |
| 2009-12-31 | ฿1.99 | ฿2.98 | x |
| 2010-12-31 | ฿2.19 | ฿2.98 | x |
| 2011-12-31 | ฿2.03 | ฿2.98 | x |
| 2012-12-31 | ฿2.12 | ฿2.98 | x |
| 2013-12-31 | ฿3.47 | ฿2.98 | x |
| 2014-12-31 | ฿2.90 | ฿2.98 | x |
| 2015-12-31 | ฿3.12 | ฿2.98 | x |
| 2016-12-31 | ฿3.43 | ฿2.98 | x |
| 2017-12-31 | ฿3.24 | ฿2.98 | x |
| 2018-12-31 | ฿3.52 | ฿2.98 | x |
| 2019-12-31 | ฿3.46 | ฿2.98 | x |
| 2020-12-31 | ฿4.05 | ฿2.98 | x |
| 2021-12-31 | ฿3.81 | ฿2.98 | x |
| 2022-12-31 | ฿3.31 | ฿2.98 | x |
| 2023-12-31 | ฿3.16 | ฿2.98 | x |
| 2024-12-31 | ฿3.47 | ฿2.98 | x |
| 2025-12-31 | ฿3.27 | ฿2.98 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Asian Insulators PCL 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): 2.85%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.80%
- • Asset Turnover: 2.23x
- • Equity Multiplier: 1.60x
- Recent ROE (2.85%) is below the historical average (14.95%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2003 | 51.45% | 38.04% | 0.93x | 1.45x | ฿205.13 Million |
| 2004 | 19.28% | 39.34% | 0.48x | 1.03x | ฿145.96 Million |
| 2005 | 14.57% | 22.53% | 0.59x | 1.09x | ฿67.71 Million |
| 2006 | 2.05% | 3.58% | 0.48x | 1.18x | ฿-120.43 Million |
| 2007 | 12.94% | 13.40% | 0.76x | 1.28x | ฿47.68 Million |
| 2008 | 10.40% | 5.56% | 0.98x | 1.91x | ฿5.18 Million |
| 2009 | 7.72% | 4.54% | 0.87x | 1.96x | ฿-31.82 Million |
| 2010 | 15.64% | 9.73% | 0.94x | 1.72x | ฿86.30 Million |
| 2011 | 3.08% | 1.46% | 0.90x | 2.35x | ฿-98.35 Million |
| 2012 | 12.80% | 4.40% | 1.18x | 2.47x | ฿41.65 Million |
| 2013 | 46.16% | 22.22% | 1.18x | 1.76x | ฿878.23 Million |
| 2014 | 14.37% | 5.34% | 1.48x | 1.82x | ฿88.75 Million |
| 2015 | 8.41% | 4.21% | 1.20x | 1.66x | ฿-34.78 Million |
| 2016 | 12.23% | 6.31% | 1.32x | 1.47x | ฿53.55 Million |
| 2017 | 11.28% | 7.81% | 1.03x | 1.40x | ฿29.01 Million |
| 2018 | 13.09% | 12.48% | 0.76x | 1.38x | ฿76.20 Million |
| 2019 | 9.72% | 7.79% | 0.84x | 1.48x | ฿-6.87 Million |
| 2020 | 26.41% | 11.27% | 1.60x | 1.47x | ฿465.65 Million |
| 2021 | 22.74% | 8.36% | 1.67x | 1.63x | ฿339.52 Million |
| 2022 | 5.50% | 1.46% | 2.35x | 1.60x | ฿-104.31 Million |
| 2023 | 5.41% | 1.37% | 2.38x | 1.66x | ฿-101.38 Million |
| 2024 | 15.86% | 4.21% | 2.25x | 1.67x | ฿142.29 Million |
| 2025 | 2.85% | 0.80% | 2.23x | 1.60x | ฿-163.69 Million |
Industry Comparison
This section compares Asian Insulators PCL's net assets metrics with peer companies in the Electrical Equipment & Parts industry.
Industry Context
- Industry: Electrical Equipment & Parts
- Average net assets among peers: $2,915,774,059
- Average return on equity (ROE) among peers: 6.42%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Asian Insulators PCL (AI) | ฿3.13 Billion | 51.45% | 0.17x | $27.38 Million |
| Thai Energy Storage Technology Public Company Limited (3K-BAT) | $1.98 Billion | -7.27% | 0.89x | $2.00 Million |
| Ekarat Engineering Public Company Limited (AKR) | $1.68 Billion | 16.66% | 0.42x | $23.80 Million |
| Asefa Public Company Limited (ASEFA) | $612.24 Million | 18.56% | 1.82x | $13.46 Million |
| C.I. Group Public Company Limited (CIG) | $362.41 Million | -35.87% | 1.41x | $1.58 Million |
| Cpt Drives & Power Pcl (CPT) | $493.86 Million | 22.89% | 0.85x | $7.81 Million |
| Charoong Thai Wire and Cable Public Company Limited (CTW) | $4.05 Billion | 4.35% | 0.89x | $14.71 Million |
| Delta Electronics (Thailand) Public Company Limited (DELTA) | $13.93 Billion | 29.02% | 0.54x | $37.16 Billion |
| QTC Energy Public Company Limited (QTC) | $1.69 Billion | 9.31% | 0.14x | $14.48 Million |
| SCI Electric Public Company Limited (SCI) | $1.45 Billion | 0.11% | 1.17x | $7.69 Million |