Asia Plus Group Holdings PCL
Asia Plus Group Holdings Public Company Limited, together with its subsidiaries, engages in the securities business in Thailand. It operates through four segments: Securities and Derivatives Brokerage, Investment Banking, Fund Management, and Investment Trading. The company offers securities and derivatives brokering services for local and foreign investors; securities brokerage, securities tradi… Read more
Asia Plus Group Holdings PCL (ASP) - Net Assets
Latest net assets as of December 2025: ฿4.76 Billion THB
Based on the latest financial reports, Asia Plus Group Holdings PCL (ASP) has net assets worth ฿4.76 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 (฿9.28 Billion) and total liabilities (฿4.53 Billion). 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 | ฿4.76 Billion |
| % of Total Assets | 51.25% |
| Annual Growth Rate | 0.83% |
| 5-Year Change | -4.59% |
| 10-Year Change | 0.18% |
| Growth Volatility | 5.66 |
Asia Plus Group Holdings PCL - Net Assets Trend (2004–2025)
This chart illustrates how Asia Plus Group Holdings 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 Asia Plus Group Holdings PCL (2004–2025)
The table below shows the annual net assets of Asia Plus Group Holdings PCL from 2004 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ฿4.76 Billion | -3.02% |
| 2024-12-31 | ฿4.91 Billion | +0.27% |
| 2023-12-31 | ฿4.89 Billion | +0.38% |
| 2022-12-31 | ฿4.87 Billion | -2.24% |
| 2021-12-31 | ฿4.99 Billion | +4.07% |
| 2020-12-31 | ฿4.79 Billion | +3.14% |
| 2019-12-31 | ฿4.65 Billion | +0.41% |
| 2018-12-31 | ฿4.63 Billion | -4.25% |
| 2017-12-31 | ฿4.83 Billion | +1.73% |
| 2016-12-31 | ฿4.75 Billion | +7.10% |
| 2015-12-31 | ฿4.43 Billion | -3.42% |
| 2014-12-31 | ฿4.59 Billion | +3.51% |
| 2013-12-31 | ฿4.44 Billion | +6.09% |
| 2012-12-31 | ฿4.18 Billion | +5.16% |
| 2011-12-31 | ฿3.98 Billion | -7.24% |
| 2010-12-31 | ฿4.29 Billion | +10.96% |
| 2009-12-31 | ฿3.86 Billion | +14.24% |
| 2008-12-31 | ฿3.38 Billion | -9.87% |
| 2007-12-31 | ฿3.75 Billion | -0.50% |
| 2006-12-31 | ฿3.77 Billion | -1.69% |
| 2005-12-31 | ฿3.84 Billion | -4.16% |
| 2004-12-31 | ฿4.00 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Asia Plus Group Holdings 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 grown by 62.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿1.28 Billion | 26.98% |
| Other Components | ฿3.47 Billion | 73.02% |
| Total Equity | ฿4.76 Billion | 100.00% |
Asia Plus Group Holdings PCL Competitors by Market Cap
The table below lists competitors of Asia Plus Group Holdings PCL ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Pharmosa Biopharm Inc.
TWO:6875
|
$93.73 Million |
|
Gentas Genel Metal Sanayi ve Ticaret AS
IS:GENTS
|
$93.83 Million |
|
CH Biotech R&D Co., Ltd.
TW:6534
|
$93.83 Million |
|
Circus SE
XETRA:CA1
|
$93.85 Million |
|
DEFAMA Deutsche Fachmarkt AG
XETRA:DEF
|
$93.65 Million |
|
Nextensa NV
BR:NEXTA
|
$93.65 Million |
|
Fiera Milano SpA
F:FM3
|
$93.64 Million |
|
Exchange Bank
PINK:EXSR
|
$93.63 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Asia Plus Group Holdings PCL's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 4,905,950,351 to 4,757,553,125, a change of -148,397,226 (-3.0%).
- Net income of 195,646,726 contributed positively to equity growth.
- Dividend payments of 168,452,484 reduced retained earnings.
- Share repurchases of 176,651,025 reduced equity.
- Other comprehensive income decreased equity by 252,194,502.
- Other factors increased equity by 253,254,059.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿195.65 Million | +4.11% |
| Dividends Paid | ฿168.45 Million | -3.54% |
| Share Repurchases | ฿176.65 Million | -3.71% |
| Other Comprehensive Income | ฿-252.19 Million | -5.3% |
| Other Changes | ฿253.25 Million | +5.32% |
| Total Change | ฿- | -3.02% |
Book Value vs Market Value Analysis
This analysis compares Asia Plus Group Holdings 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: 0.90x
- 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.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2004-12-31 | ฿2.26 | ฿2.04 | x |
| 2005-12-31 | ฿1.83 | ฿2.04 | x |
| 2006-12-31 | ฿1.65 | ฿2.04 | x |
| 2007-12-31 | ฿1.67 | ฿2.04 | x |
| 2008-12-31 | ฿1.59 | ฿2.04 | x |
| 2009-12-31 | ฿1.83 | ฿2.04 | x |
| 2010-12-31 | ฿2.04 | ฿2.04 | x |
| 2011-12-31 | ฿1.89 | ฿2.04 | x |
| 2012-12-31 | ฿1.99 | ฿2.04 | x |
| 2013-12-31 | ฿2.11 | ฿2.04 | x |
| 2014-12-31 | ฿2.18 | ฿2.04 | x |
| 2015-12-31 | ฿2.11 | ฿2.04 | x |
| 2016-12-31 | ฿2.26 | ฿2.04 | x |
| 2017-12-31 | ฿2.29 | ฿2.04 | x |
| 2018-12-31 | ฿2.20 | ฿2.04 | x |
| 2019-12-31 | ฿2.21 | ฿2.04 | x |
| 2020-12-31 | ฿2.28 | ฿2.04 | x |
| 2021-12-31 | ฿2.37 | ฿2.04 | x |
| 2022-12-31 | ฿2.31 | ฿2.04 | x |
| 2023-12-31 | ฿2.32 | ฿2.04 | x |
| 2024-12-31 | ฿2.33 | ฿2.04 | x |
| 2025-12-31 | ฿2.26 | ฿2.04 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Asia Plus Group Holdings 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): 4.11%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 9.96%
- • Asset Turnover: 0.21x
- • Equity Multiplier: 1.95x
- Recent ROE (4.11%) is below the historical average (7.96%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2004 | -82.94% | -136.76% | 0.43x | 1.42x | ฿-3.72 Billion |
| 2005 | 13.05% | 27.57% | 0.34x | 1.40x | ฿117.02 Million |
| 2006 | 9.70% | 24.35% | 0.31x | 1.29x | ฿-11.19 Million |
| 2007 | 11.86% | 25.62% | 0.31x | 1.48x | ฿69.76 Million |
| 2008 | 6.23% | 15.43% | 0.33x | 1.21x | ฿-127.40 Million |
| 2009 | 11.72% | 27.83% | 0.30x | 1.40x | ฿66.56 Million |
| 2010 | 17.54% | 34.74% | 0.30x | 1.69x | ฿323.02 Million |
| 2011 | 12.71% | 27.13% | 0.29x | 1.62x | ฿107.73 Million |
| 2012 | 14.43% | 29.31% | 0.25x | 1.98x | ฿185.06 Million |
| 2013 | 24.06% | 34.44% | 0.40x | 1.73x | ฿623.79 Million |
| 2014 | 18.03% | 31.09% | 0.35x | 1.67x | ฿368.76 Million |
| 2015 | 12.58% | 25.81% | 0.28x | 1.75x | ฿114.31 Million |
| 2016 | 15.91% | 30.59% | 0.25x | 2.08x | ฿280.74 Million |
| 2017 | 15.35% | 29.13% | 0.23x | 2.34x | ฿258.43 Million |
| 2018 | 9.39% | 19.45% | 0.35x | 1.38x | ฿-28.40 Million |
| 2019 | 7.74% | 18.83% | 0.30x | 1.36x | ฿-105.10 Million |
| 2020 | 8.68% | 22.82% | 0.19x | 1.96x | ฿-63.34 Million |
| 2021 | 19.62% | 29.16% | 0.23x | 2.96x | ฿479.73 Million |
| 2022 | 9.83% | 20.58% | 0.14x | 3.31x | ฿-8.18 Million |
| 2023 | 8.34% | 18.64% | 0.16x | 2.87x | ฿-81.35 Million |
| 2024 | 7.27% | 16.23% | 0.18x | 2.45x | ฿-134.17 Million |
| 2025 | 4.11% | 9.96% | 0.21x | 1.95x | ฿-280.11 Million |
Industry Comparison
This section compares Asia Plus Group Holdings PCL's net assets metrics with peer companies in the Capital Markets industry.
Industry Context
- Industry: Capital Markets
- Average net assets among peers: $2,511,670,565
- Average return on equity (ROE) among peers: 5.79%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Asia Plus Group Holdings PCL (ASP) | ฿4.76 Billion | -82.94% | 0.95x | $93.67 Million |
| AIRA Capital Public Company Limited (AIRA) | $1.11 Billion | 8.11% | 3.78x | $60.05 Million |
| Beyond Securities PCL (BYD) | $927.92 Million | -4.32% | 0.24x | $46.15 Million |
| Country Group Holdings Public Company Limited (CGH) | $3.38 Billion | 12.43% | 0.41x | $29.38 Million |
| Globlex Holding Management Public Company Limited (GBX) | $1.44 Billion | 2.99% | 1.04x | $8.78 Million |
| KGI Securities (Thailand) Public Company Limited (KGI) | $5.56 Billion | 1.15% | 0.34x | $160.61 Million |
| Maybank Securities (Thailand) PCL (MST) | $4.42 Billion | 14.80% | 0.62x | $18.74 Million |
| Trinity Watthana Public Company Limited (TNITY) | $1.60 Billion | 8.17% | 2.16x | $9.36 Million |
| UOB Kay Hian Securities (Thailand) Public Company Limited (UOBKH) | $1.83 Billion | 6.24% | 0.23x | $8.84 Million |
| XSpring Capital Public Company Limited (XPG) | $2.34 Billion | 2.55% | 0.50x | $108.52 Million |