Business Online PCL
Business Online Public Company Limited, together with its subsidiaries, engages in the development and provision of local and global financial information systems in Thailand. The company provides solutions, such as Corpus X, a data analytics platform that helps companies to do business with certainty; Xignal, big data analytics platform for business data analysis; MatchLink, a social business pl… Read more
Business Online PCL (BOL) - Net Assets
Latest net assets as of December 2025: ฿1.10 Billion THB
Based on the latest financial reports, Business Online PCL (BOL) has net assets worth ฿1.10 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 (฿1.55 Billion) and total liabilities (฿453.29 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 | ฿1.10 Billion |
| % of Total Assets | 70.76% |
| Annual Growth Rate | 13.56% |
| 5-Year Change | 44.68% |
| 10-Year Change | 172.07% |
| Growth Volatility | 25.4 |
Business Online PCL - Net Assets Trend (2003–2025)
This chart illustrates how Business Online 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 Business Online PCL (2003–2025)
The table below shows the annual net assets of Business Online PCL from 2003 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ฿1.10 Billion | +5.32% |
| 2024-12-31 | ฿1.04 Billion | +1.16% |
| 2023-12-31 | ฿1.03 Billion | +16.72% |
| 2022-12-31 | ฿881.93 Million | +16.34% |
| 2021-12-31 | ฿758.07 Million | +6.69% |
| 2020-12-31 | ฿710.50 Million | +41.83% |
| 2019-12-31 | ฿500.94 Million | -0.85% |
| 2018-12-31 | ฿505.24 Million | +7.78% |
| 2017-12-31 | ฿468.77 Million | +16.29% |
| 2016-12-31 | ฿403.11 Million | +7.83% |
| 2015-12-31 | ฿373.84 Million | +10.50% |
| 2014-12-31 | ฿338.33 Million | +14.19% |
| 2013-12-31 | ฿296.28 Million | +10.09% |
| 2012-12-31 | ฿269.12 Million | +6.44% |
| 2011-12-31 | ฿252.83 Million | +7.93% |
| 2010-12-31 | ฿234.26 Million | +5.86% |
| 2009-12-31 | ฿221.30 Million | -0.02% |
| 2008-12-31 | ฿221.34 Million | +0.81% |
| 2007-12-31 | ฿219.56 Million | +18.33% |
| 2006-12-31 | ฿185.56 Million | +16.84% |
| 2005-12-31 | ฿158.81 Million | +5.77% |
| 2004-12-31 | ฿150.15 Million | +124.45% |
| 2003-12-31 | ฿66.90 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Business Online 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 4416.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿484.02 Million | 44.13% |
| Other Components | ฿612.73 Million | 55.87% |
| Total Equity | ฿1.10 Billion | 100.00% |
Business Online PCL Competitors by Market Cap
The table below lists competitors of Business Online PCL ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Tamul Multimedia Co. Ltd
KQ:093640
|
$34.58 Million |
|
Harmony Electronics
TWO:8182
|
$34.59 Million |
|
Connect Biopharma Holdings Ltd
NASDAQ:CNTB
|
$34.61 Million |
|
Madison County Financial Inc
PINK:MCBK
|
$34.61 Million |
|
Sol Strategies Inc. Common Shares
NASDAQ:STKE
|
$34.56 Million |
|
Gogoro Inc
NASDAQ:GGR
|
$34.55 Million |
|
SDI Ltd
AU:SDI
|
$34.55 Million |
|
CHOROKBAEM COMPANY Co. Ltd
KQ:052300
|
$34.55 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Business Online PCL's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,041,395,098 to 1,096,754,783, a change of 55,359,685 (5.3%).
- Net income of 290,985,734 contributed positively to equity growth.
- Dividend payments of 258,342,294 reduced retained earnings.
- Other comprehensive income decreased equity by 8,260,000.
- Other factors increased equity by 30,976,245.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿290.99 Million | +26.53% |
| Dividends Paid | ฿258.34 Million | -23.56% |
| Other Comprehensive Income | ฿-8.26 Million | -0.75% |
| Other Changes | ฿30.98 Million | +2.82% |
| Total Change | ฿- | 5.32% |
Book Value vs Market Value Analysis
This analysis compares Business Online 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: 3.74x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 38.29x to 3.74x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2003-12-31 | ฿0.13 | ฿5.00 | x |
| 2004-12-31 | ฿0.22 | ฿5.00 | x |
| 2005-12-31 | ฿0.21 | ฿5.00 | x |
| 2006-12-31 | ฿0.25 | ฿5.00 | x |
| 2007-12-31 | ฿0.29 | ฿5.00 | x |
| 2008-12-31 | ฿0.29 | ฿5.00 | x |
| 2009-12-31 | ฿0.29 | ฿5.00 | x |
| 2010-12-31 | ฿0.30 | ฿5.00 | x |
| 2011-12-31 | ฿0.32 | ฿5.00 | x |
| 2012-12-31 | ฿0.34 | ฿5.00 | x |
| 2013-12-31 | ฿0.38 | ฿5.00 | x |
| 2014-12-31 | ฿0.43 | ฿5.00 | x |
| 2015-12-31 | ฿0.47 | ฿5.00 | x |
| 2016-12-31 | ฿0.51 | ฿5.00 | x |
| 2017-12-31 | ฿0.58 | ฿5.00 | x |
| 2018-12-31 | ฿0.62 | ฿5.00 | x |
| 2019-12-31 | ฿0.61 | ฿5.00 | x |
| 2020-12-31 | ฿0.87 | ฿5.00 | x |
| 2021-12-31 | ฿0.92 | ฿5.00 | x |
| 2022-12-31 | ฿1.07 | ฿5.00 | x |
| 2023-12-31 | ฿1.25 | ฿5.00 | x |
| 2024-12-31 | ฿1.27 | ฿5.00 | x |
| 2025-12-31 | ฿1.34 | ฿5.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Business Online 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): 26.53%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 38.45%
- • Asset Turnover: 0.49x
- • Equity Multiplier: 1.41x
- Recent ROE (26.53%) is above the historical average (24.33%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2003 | 9.04% | 5.07% | 0.94x | 1.91x | ฿-639.40K |
| 2004 | 8.28% | 8.73% | 0.67x | 1.42x | ฿-2.58 Million |
| 2005 | 10.18% | 9.64% | 0.72x | 1.47x | ฿280.57K |
| 2006 | 20.48% | 17.23% | 0.81x | 1.47x | ฿19.44 Million |
| 2007 | 27.44% | 22.69% | 0.83x | 1.46x | ฿38.30 Million |
| 2008 | 33.97% | 28.73% | 0.87x | 1.36x | ฿53.05 Million |
| 2009 | 31.82% | 27.20% | 0.86x | 1.37x | ฿48.28 Million |
| 2010 | 30.92% | 22.89% | 0.97x | 1.40x | ฿49.00 Million |
| 2011 | 34.11% | 21.47% | 1.03x | 1.54x | ฿60.95 Million |
| 2012 | 31.74% | 23.23% | 0.86x | 1.58x | ฿58.50 Million |
| 2013 | 30.39% | 23.19% | 0.86x | 1.52x | ฿60.41 Million |
| 2014 | 23.39% | 17.98% | 0.82x | 1.58x | ฿45.29 Million |
| 2015 | 16.37% | 18.90% | 0.60x | 1.44x | ฿23.80 Million |
| 2016 | 18.01% | 19.20% | 0.65x | 1.43x | ฿32.28 Million |
| 2017 | 16.34% | 18.50% | 0.65x | 1.37x | ฿29.74 Million |
| 2018 | 20.60% | 22.68% | 0.66x | 1.37x | ฿53.56 Million |
| 2019 | 28.73% | 28.33% | 0.74x | 1.37x | ฿93.82 Million |
| 2020 | 25.12% | 29.97% | 0.60x | 1.41x | ฿107.45 Million |
| 2021 | 30.76% | 38.36% | 0.58x | 1.38x | ฿157.40 Million |
| 2022 | 30.69% | 41.40% | 0.54x | 1.37x | ฿182.50 Million |
| 2023 | 28.20% | 37.06% | 0.56x | 1.35x | ฿187.37 Million |
| 2024 | 26.48% | 40.53% | 0.48x | 1.35x | ฿171.60 Million |
| 2025 | 26.53% | 38.45% | 0.49x | 1.41x | ฿181.31 Million |
Industry Comparison
This section compares Business Online PCL's net assets metrics with peer companies in the Consulting Services industry.
Industry Context
- Industry: Consulting Services
- Average net assets among peers: $26,667,577
- Average return on equity (ROE) among peers: 72.06%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Business Online PCL (BOL) | ฿1.10 Billion | 9.04% | 0.41x | $34.57 Million |
| Bluebik Group PCL (BBIK) | $26.67 Million | 72.06% | 1.32x | $52.60 Million |