Bangkok Airways Public Company Limited (BA) - Net Assets

Latest as of September 2025: ฿13.98 Billion THB ≈ $435.67 Million USD

Based on the latest financial reports, Bangkok Airways Public Company Limited (BA) has net assets worth ฿13.98 Billion THB (≈ $435.67 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿50.16 Billion ≈ $1.56 Billion USD) and total liabilities (฿36.18 Billion ≈ $1.13 Billion USD). 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. Check BA financial resilience to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	฿13.98 Billion
% of Total Assets	27.87%
Annual Growth Rate	11.2%
5-Year Change	-19.12%
10-Year Change	-49.01%
Growth Volatility	73.0

Bangkok Airways Public Company Limited - Net Assets Trend (2011–2024)

This chart illustrates how Bangkok Airways Public Company Limited's net assets have evolved over time, based on quarterly financial data. Also explore BA total asset value for the complete picture of this company's asset base.

Annual Net Assets for Bangkok Airways Public Company Limited (2011–2024)

The table below shows the annual net assets of Bangkok Airways Public Company Limited from 2011 to 2024. For live valuation and market cap data, see BA stock market capitalisation.

Year	Net Assets	Change
2024-12-31	฿15.86 Billion ≈ $494.23 Million	-6.22%
2023-12-31	฿16.91 Billion ≈ $527.00 Million	+0.86%
2022-12-31	฿16.76 Billion ≈ $522.51 Million	+27.36%
2021-12-31	฿13.16 Billion ≈ $410.25 Million	-32.87%
2020-12-31	฿19.61 Billion ≈ $611.09 Million	-34.66%
2019-12-31	฿30.00 Billion ≈ $935.21 Million	-2.51%
2018-12-31	฿30.78 Billion ≈ $959.33 Million	+8.43%
2017-12-31	฿28.39 Billion ≈ $884.75 Million	-11.26%
2016-12-31	฿31.99 Billion ≈ $997.06 Million	+2.87%
2015-12-31	฿31.10 Billion ≈ $969.23 Million	+22.27%
2014-12-31	฿25.43 Billion ≈ $792.69 Million	+253.63%
2013-12-31	฿7.19 Billion ≈ $224.16 Million	-6.84%
2012-12-31	฿7.72 Billion ≈ $240.61 Million	+93.50%
2011-12-31	฿3.99 Billion ≈ $124.35 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Bangkok Airways 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 616261765900.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Retained Earnings	฿2.48 Billion	15.59%
Common Stock	฿2.10 Billion	13.18%
Other Comprehensive Income	฿210.00 Million	1.32%
Other Components	฿11.14 Billion	69.91%
Total Equity	฿15.93 Billion	100.00%

Bangkok Airways Public Company Limited Competitors by Market Cap

The table below lists competitors of Bangkok Airways Public Company Limited ranked by their market capitalization.

Company	Market Cap
Lifecome Biochemistry Co Ltd SHE:002868	$882.85 Million
Iress Ltd AU:IRE	$882.87 Million
Evertz Technologies Limited TO:ET	$882.95 Million
Yueyang Xingchang Petro-Chemical Co Ltd SHE:000819	$883.51 Million
Evommune, Inc. NYSE:EVMN	$882.45 Million
Lotus Technology Inc. NASDAQ:LOT	$882.32 Million
Minerals 260 Ltd AU:MI6	$882.12 Million
Varroc Engineering Limited NSE:VARROC	$882.01 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Bangkok Airways Public Company Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2023 to 2024, total equity changed from 16,984,028,340 to 15,931,051,164, a change of -1,052,977,176 (-6.2%).
Net income of 3,787,662,240 contributed positively to equity growth.
Dividend payments of 2,309,565,462 reduced retained earnings.
Other comprehensive income decreased equity by 13,428,685,499.
Other factors increased equity by 10,897,611,545.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	฿3.79 Billion	+23.78%
Dividends Paid	฿2.31 Billion	-14.5%
Other Comprehensive Income	฿-13.43 Billion	-84.29%
Other Changes	฿10.90 Billion	+68.4%
Total Change	฿-	-6.20%

Book Value vs Market Value Analysis

This analysis compares Bangkok Airways 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: 1.78x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has decreased from 4.20x to 1.78x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2011-12-31	฿3.21	฿13.50	x
2012-12-31	฿6.22	฿13.50	x
2013-12-31	฿4.69	฿13.50	x
2014-12-31	฿15.13	฿13.50	x
2015-12-31	฿14.74	฿13.50	x
2016-12-31	฿15.20	฿13.50	x
2017-12-31	฿13.48	฿13.50	x
2018-12-31	฿14.66	฿13.50	x
2019-12-31	฿14.53	฿13.50	x
2020-12-31	฿9.51	฿13.50	x
2021-12-31	฿6.41	฿13.50	x
2022-12-31	฿8.02	฿13.50	x
2023-12-31	฿8.09	฿13.50	x
2024-12-31	฿7.59	฿13.50	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Bangkok Airways 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): 23.78%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 15.78%
• Asset Turnover: 0.43x
• Equity Multiplier: 3.51x
Recent ROE (23.78%) is above the historical average (-0.10%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2011	7.30%	2.00%	0.51x	7.12x	฿-104.05 Million
2012	23.55%	10.02%	0.55x	4.26x	฿1.02 Billion
2013	13.17%	4.69%	0.65x	4.29x	฿224.44 Million
2014	1.39%	1.67%	0.43x	1.92x	฿-2.18 Billion
2015	5.80%	7.77%	0.41x	1.84x	฿-1.30 Billion
2016	5.54%	7.16%	0.41x	1.89x	฿-1.42 Billion
2017	2.78%	3.16%	0.43x	2.05x	฿-2.04 Billion
2018	0.81%	0.99%	0.41x	2.02x	฿-2.82 Billion
2019	1.17%	1.46%	0.39x	2.07x	฿-2.64 Billion
2020	-27.19%	-69.50%	0.15x	2.58x	฿-7.29 Billion
2021	-65.16%	-316.53%	0.06x	3.71x	฿-9.92 Billion
2022	-12.64%	-18.81%	0.18x	3.70x	฿-3.81 Billion
2023	18.31%	15.80%	0.34x	3.41x	฿1.41 Billion
2024	23.78%	15.78%	0.43x	3.51x	฿2.19 Billion

Industry Comparison

This section compares Bangkok Airways Public Company Limited's net assets metrics with peer companies in the Airlines industry.

Industry Context

Industry: Airlines
Average net assets among peers: $11,461,734,616
Average return on equity (ROE) among peers: -31.22%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Bangkok Airways Public Company Limited (BA)	฿13.98 Billion	7.30%	2.59x	$882.66 Million
Asia Aviation Public Company Limited (AAV)	$7.95 Billion	-103.27%	7.13x	$424.56 Million
Asia Aviation Public Company Limited (AAV-R)	$16.83 Billion	-39.50%	3.23x	$540.71 Million
Thai Airways International Public Company Limited (THAI)	$9.60 Billion	49.11%	16.47x	$5.29 Billion

About Bangkok Airways Public Company Limited

BK:BA Thailand Airlines

Market Cap

$882.66 Million

฿28.32 Billion THB

Market Cap Rank

#9672 Global

#80 in Thailand

Share Price

฿13.50

Change (1 day)

+0.00%

52-Week Range

฿11.00 - ฿18.70

All Time High

฿25.75