Bangkok Aviation Fuel Services Public Company Limited
Bangkok Aviation Fuel Services Public Company Limited provides aircraft fuel storage and aircraft refueling services at Bangkok International Airport in Thailand. It operates in three segments: Aviation, Utilities and Power, and Business Solution. The company offers into-plane, hydrant network, and fuel pipeline transportation services, as well as assembles and maintains hydrant dispensers. It al… Read more
Bangkok Aviation Fuel Services Public Company Limited (BAFS) - Net Assets
Latest net assets as of September 2025: ฿6.40 Billion THB
Based on the latest financial reports, Bangkok Aviation Fuel Services Public Company Limited (BAFS) has net assets worth ฿6.40 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 (฿22.02 Billion) and total liabilities (฿15.62 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 | ฿6.40 Billion |
| % of Total Assets | 29.06% |
| Annual Growth Rate | 7.83% |
| 5-Year Change | -4.43% |
| 10-Year Change | 14.19% |
| Growth Volatility | 21.04 |
Bangkok Aviation Fuel Services Public Company Limited - Net Assets Trend (2000–2024)
This chart illustrates how Bangkok Aviation Fuel Services 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 Bangkok Aviation Fuel Services Public Company Limited (2000–2024)
The table below shows the annual net assets of Bangkok Aviation Fuel Services Public Company Limited from 2000 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ฿6.47 Billion | -3.47% |
| 2023-12-31 | ฿6.70 Billion | +12.58% |
| 2022-12-31 | ฿5.95 Billion | -6.65% |
| 2021-12-31 | ฿6.38 Billion | -5.79% |
| 2020-12-31 | ฿6.77 Billion | -13.94% |
| 2019-12-31 | ฿7.86 Billion | +0.14% |
| 2018-12-31 | ฿7.85 Billion | +3.74% |
| 2017-12-31 | ฿7.57 Billion | +2.69% |
| 2016-12-31 | ฿7.37 Billion | +30.14% |
| 2015-12-31 | ฿5.66 Billion | +8.67% |
| 2014-12-31 | ฿5.21 Billion | +4.50% |
| 2013-12-31 | ฿4.99 Billion | +16.33% |
| 2012-12-31 | ฿4.29 Billion | +12.24% |
| 2011-12-31 | ฿3.82 Billion | +7.24% |
| 2010-12-31 | ฿3.56 Billion | +8.85% |
| 2009-12-31 | ฿3.27 Billion | +9.42% |
| 2008-12-31 | ฿2.99 Billion | -12.89% |
| 2007-12-31 | ฿3.43 Billion | +28.77% |
| 2006-12-31 | ฿2.67 Billion | +9.45% |
| 2005-12-31 | ฿2.44 Billion | +19.30% |
| 2004-12-31 | ฿2.04 Billion | +16.17% |
| 2003-12-31 | ฿1.76 Billion | +10.84% |
| 2002-12-31 | ฿1.59 Billion | +91.55% |
| 2001-12-31 | ฿827.87 Million | -21.80% |
| 2000-12-31 | ฿1.06 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Bangkok Aviation Fuel Services 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 decreased by 77.8% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿179.26 Million | 3.33% |
| Common Stock | ฿637.50 Million | 11.83% |
| Other Comprehensive Income | ฿2.70 Billion | 50.03% |
| Other Components | ฿1.88 Billion | 34.81% |
| Total Equity | ฿5.39 Billion | 100.00% |
Bangkok Aviation Fuel Services Public Company Limited Competitors by Market Cap
The table below lists competitors of Bangkok Aviation Fuel Services Public Company Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Binh Thanh Import Export Production and Trade JSC
VN:GIL
|
$51.69 Million |
|
Centaur Media Plc
PINK:CAUUF
|
$51.69 Million |
|
WISeKey International Holding Ltd.
LSE:0RF1
|
$51.70 Million |
|
TROPHY GAMES Development AS
CO:TGAMES
|
$51.70 Million |
|
JW (Cayman) Therapeutics Co. Ltd
PINK:JWCTF
|
$51.68 Million |
|
Zenix Robotics Co.,Ltd
KQ:381620
|
$51.67 Million |
|
São Carlos Empreendimentos e Participações S.A
SA:SCAR3
|
$51.67 Million |
|
ALM Equity AB Pfd.
ST:ALM-PREF
|
$51.67 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Bangkok Aviation Fuel Services Public Company Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 5,455,743,290 to 5,387,403,828, a change of -68,339,462 (-1.3%).
- Net income of 102,862,052 contributed positively to equity growth.
- Dividend payments of 221,676,874 reduced retained earnings.
- Other comprehensive income increased equity by 81,190,470.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿102.86 Million | +1.91% |
| Dividends Paid | ฿221.68 Million | -4.11% |
| Other Comprehensive Income | ฿81.19 Million | +1.51% |
| Other Changes | ฿-30.72 Million | -0.57% |
| Total Change | ฿- | -1.25% |
Book Value vs Market Value Analysis
This analysis compares Bangkok Aviation Fuel Services 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: 0.99x
- 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 increased from 0.30x to 0.99x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2000-12-31 | ฿28.23 | ฿8.35 | x |
| 2001-12-31 | ฿2.21 | ฿8.35 | x |
| 2002-12-31 | ฿3.33 | ฿8.35 | x |
| 2003-12-31 | ฿3.36 | ฿8.35 | x |
| 2004-12-31 | ฿3.56 | ฿8.35 | x |
| 2005-12-31 | ฿3.55 | ฿8.35 | x |
| 2006-12-31 | ฿4.35 | ฿8.35 | x |
| 2007-12-31 | ฿5.09 | ฿8.35 | x |
| 2008-12-31 | ฿4.43 | ฿8.35 | x |
| 2009-12-31 | ฿4.90 | ฿8.35 | x |
| 2010-12-31 | ฿5.34 | ฿8.35 | x |
| 2011-12-31 | ฿5.72 | ฿8.35 | x |
| 2012-12-31 | ฿6.43 | ฿8.35 | x |
| 2013-12-31 | ฿7.46 | ฿8.35 | x |
| 2014-12-31 | ฿7.80 | ฿8.35 | x |
| 2015-12-31 | ฿8.47 | ฿8.35 | x |
| 2016-12-31 | ฿9.50 | ฿8.35 | x |
| 2017-12-31 | ฿9.76 | ฿8.35 | x |
| 2018-12-31 | ฿10.17 | ฿8.35 | x |
| 2019-12-31 | ฿10.22 | ฿8.35 | x |
| 2020-12-31 | ฿8.62 | ฿8.35 | x |
| 2021-12-31 | ฿7.54 | ฿8.35 | x |
| 2022-12-31 | ฿7.14 | ฿8.35 | x |
| 2023-12-31 | ฿8.56 | ฿8.35 | x |
| 2024-12-31 | ฿8.45 | ฿8.35 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Bangkok Aviation Fuel Services 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): 1.91%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 2.98%
- • Asset Turnover: 0.16x
- • Equity Multiplier: 4.05x
- Recent ROE (1.91%) is below the historical average (11.62%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 20.05% | 24.68% | 0.64x | 1.27x | ฿106.42 Million |
| 2001 | -9.21% | -7.92% | 0.61x | 1.89x | ฿-159.06 Million |
| 2002 | 20.17% | 33.44% | 0.50x | 1.20x | ฿161.22 Million |
| 2003 | 18.20% | 33.61% | 0.26x | 2.05x | ฿140.85 Million |
| 2004 | 20.04% | 32.81% | 0.24x | 2.52x | ฿182.14 Million |
| 2005 | 19.97% | 34.21% | 0.18x | 3.18x | ฿208.48 Million |
| 2006 | 19.98% | 30.11% | 0.20x | 3.25x | ฿230.46 Million |
| 2007 | 17.88% | 24.06% | 0.30x | 2.47x | ฿239.38 Million |
| 2008 | 15.49% | 20.58% | 0.30x | 2.50x | ฿155.21 Million |
| 2009 | 14.82% | 22.75% | 0.30x | 2.19x | ฿150.52 Million |
| 2010 | 15.33% | 23.50% | 0.33x | 1.96x | ฿181.49 Million |
| 2011 | 14.47% | 22.56% | 0.32x | 2.02x | ฿163.03 Million |
| 2012 | 19.43% | 33.91% | 0.32x | 1.80x | ฿386.51 Million |
| 2013 | 22.16% | 38.17% | 0.34x | 1.70x | ฿578.44 Million |
| 2014 | 15.25% | 25.42% | 0.36x | 1.66x | ฿260.75 Million |
| 2015 | 17.70% | 28.78% | 0.39x | 1.58x | ฿416.68 Million |
| 2016 | 18.11% | 30.78% | 0.29x | 2.01x | ฿491.45 Million |
| 2017 | 15.58% | 27.10% | 0.29x | 1.99x | ฿347.63 Million |
| 2018 | 16.22% | 27.98% | 0.23x | 2.52x | ฿402.89 Million |
| 2019 | 14.42% | 24.27% | 0.22x | 2.66x | ฿288.16 Million |
| 2020 | -7.63% | -23.22% | 0.09x | 3.54x | ฿-968.20 Million |
| 2021 | -18.40% | -54.68% | 0.07x | 5.13x | ฿-1.36 Billion |
| 2022 | -8.81% | -18.27% | 0.09x | 5.21x | ฿-855.87 Million |
| 2023 | -2.53% | -4.64% | 0.13x | 4.17x | ฿-683.62 Million |
| 2024 | 1.91% | 2.98% | 0.16x | 4.05x | ฿-435.88 Million |
Industry Comparison
This section compares Bangkok Aviation Fuel Services Public Company Limited's net assets metrics with peer companies in the Airports & Air Services industry.
Industry Context
- Industry: Airports & Air Services
- Average net assets among peers: $29,273,293,861
- Average return on equity (ROE) among peers: 36.06%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Bangkok Aviation Fuel Services Public Company Limited (BAFS) | ฿6.40 Billion | 20.05% | 2.44x | $51.69 Million |
| Airports Of Thailand PCL (AOT) | $58.48 Billion | 8.16% | 0.86x | $5.84 Billion |
| Samart Aviation Solutions Public Company Limited (SAV) | $68.59 Million | 63.97% | 34.50x | $38.52 Million |