Forth Corporation Public Company Limited (FORTH) - Net Assets

Latest as of December 2024: ฿3.21 Billion THB ≈ $99.93 Million USD

Based on the latest financial reports, Forth Corporation Public Company Limited (FORTH) has net assets worth ฿3.21 Billion THB (≈ $99.93 Million USD) as of December 2024. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿12.14 Billion ≈ $378.32 Million USD) and total liabilities (฿8.93 Billion ≈ $278.39 Million 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 tangible net worth ratio of Forth Corporation Public Company Limited to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	฿3.21 Billion
% of Total Assets	26.41%
Annual Growth Rate	10.39%
5-Year Change	43.88%
10-Year Change	27.92%
Growth Volatility	29.92

Forth Corporation Public Company Limited - Net Assets Trend (2005–2024)

This chart illustrates how Forth Corporation Public Company Limited's net assets have evolved over time, based on quarterly financial data. See Forth Corporation Public Company Limited (FORTH) liquidity interval to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Forth Corporation Public Company Limited (2005–2024)

The table below shows the annual net assets of Forth Corporation Public Company Limited from 2005 to 2024. For live valuation and market cap data, see Forth Corporation Public Company Limited stock valuation.

Year	Net Assets	Change
2024-12-31	฿3.21 Billion ≈ $99.93 Million	-2.31%
2023-12-31	฿3.28 Billion ≈ $102.29 Million	+0.71%
2022-12-31	฿3.26 Billion ≈ $101.56 Million	+24.43%
2021-12-31	฿2.62 Billion ≈ $81.62 Million	+17.53%
2020-12-31	฿2.23 Billion ≈ $69.45 Million	-8.91%
2019-12-31	฿2.45 Billion ≈ $76.24 Million	-2.41%
2018-12-31	฿2.51 Billion ≈ $78.12 Million	-7.84%
2017-12-31	฿2.72 Billion ≈ $84.77 Million	+3.44%
2016-12-31	฿2.63 Billion ≈ $81.95 Million	+4.91%
2015-12-31	฿2.51 Billion ≈ $78.12 Million	+9.20%
2014-12-31	฿2.30 Billion ≈ $71.53 Million	+35.28%
2013-12-31	฿1.70 Billion ≈ $52.88 Million	+16.62%
2012-12-31	฿1.45 Billion ≈ $45.34 Million	+1.73%
2011-12-31	฿1.43 Billion ≈ $44.57 Million	+8.10%
2010-12-31	฿1.32 Billion ≈ $41.23 Million	+16.98%
2009-12-31	฿1.13 Billion ≈ $35.24 Million	+7.88%
2008-12-31	฿1.05 Billion ≈ $32.67 Million	-12.11%
2007-12-31	฿1.19 Billion ≈ $37.17 Million	+5.59%
2006-12-31	฿1.13 Billion ≈ $35.20 Million	+130.32%
2005-12-31	฿490.38 Million ≈ $15.28 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Forth Corporation 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 884.1% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Retained Earnings	฿1.03 Billion	52.82%
Common Stock	฿467.69 Million	24.07%
Other Comprehensive Income	฿48.00 Million	2.47%
Other Components	฿400.89 Million	20.64%
Total Equity	฿1.94 Billion	100.00%

Forth Corporation Public Company Limited Competitors by Market Cap

The table below lists competitors of Forth Corporation Public Company Limited ranked by their market capitalization.

Company	Market Cap
Morguard North American Residential Real Estate Investment Trust TO:MRG-UN	$425.69 Million
Farmland Partners Inc NYSE:FPI	$425.70 Million
V.S.T Tillers Tractors Limited NSE:VSTTILLERS	$425.71 Million
Anji Foodstuff Co Ltd SHG:603696	$425.74 Million
Fittech Co Ltd TW:6706	$425.65 Million
Yuancheng Cable Co Ltd SHE:002692	$425.60 Million
GBank Financial Holdings Inc. Common Stock NASDAQ:GBFH	$425.57 Million
Community Health Systems Inc NYSE:CYH	$425.57 Million

Equity Growth Attribution

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

Equity Growth Insights

From 2023 to 2024, total equity changed from 2,088,183,265 to 1,942,778,892, a change of -145,404,373 (-7.0%).
Net income of 221,301,344 contributed positively to equity growth.
Dividend payments of 346,087,339 reduced retained earnings.
Other comprehensive income increased equity by 212,644,088.
Other factors decreased equity by 233,262,466.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	฿221.30 Million	+11.39%
Dividends Paid	฿346.09 Million	-17.81%
Other Comprehensive Income	฿212.64 Million	+10.95%
Other Changes	฿-233.26 Million	-12.01%
Total Change	฿-	-6.96%

Book Value vs Market Value Analysis

This analysis compares Forth Corporation 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: 5.88x
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 10.79x to 5.88x 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	฿1.35	฿14.60	x
2007-12-31	฿1.24	฿14.60	x
2008-12-31	฿1.09	฿14.60	x
2009-12-31	฿1.17	฿14.60	x
2010-12-31	฿1.38	฿14.60	x
2011-12-31	฿1.49	฿14.60	x
2012-12-31	฿1.43	฿14.60	x
2013-12-31	฿1.52	฿14.60	x
2014-12-31	฿0.00	฿14.60	x
2015-12-31	฿2.00	฿14.60	x
2016-12-31	฿2.04	฿14.60	x
2017-12-31	฿1.97	฿14.60	x
2018-12-31	฿1.76	฿14.60	x
2019-12-31	฿1.57	฿14.60	x
2020-12-31	฿1.38	฿14.60	x
2021-12-31	฿1.82	฿14.60	x
2022-12-31	฿2.24	฿14.60	x
2023-12-31	฿2.23	฿14.60	x
2024-12-31	฿2.48	฿14.60	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Forth Corporation 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): 11.39%
The company shows good efficiency in utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 2.52%
• Asset Turnover: 0.72x
• Equity Multiplier: 6.25x
Recent ROE (11.39%) is below the historical average (21.56%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2005	6.46%	1.90%	0.93x	3.67x	฿-17.35 Million
2006	18.90%	8.61%	1.11x	1.98x	฿100.54 Million
2007	17.77%	5.38%	1.07x	3.10x	฿92.66 Million
2008	-7.45%	-1.04%	1.77x	4.03x	฿-182.78 Million
2009	6.46%	0.72%	1.85x	4.84x	฿-39.61 Million
2010	24.04%	2.73%	1.80x	4.88x	฿185.69 Million
2011	25.93%	4.17%	1.61x	3.85x	฿227.46 Million
2012	6.80%	1.58%	1.32x	3.25x	฿-43.81 Million
2013	16.37%	5.68%	0.96x	3.00x	฿98.91 Million
2014	19.32%	7.90%	0.68x	3.62x	฿163.04 Million
2015	23.94%	9.16%	0.84x	3.11x	฿267.78 Million
2016	18.69%	6.95%	0.77x	3.51x	฿170.06 Million
2017	14.33%	3.91%	0.85x	4.30x	฿82.09 Million
2018	31.23%	6.73%	0.88x	5.26x	฿357.66 Million
2019	40.21%	9.29%	0.86x	5.05x	฿455.15 Million
2020	49.98%	9.51%	0.87x	6.05x	฿516.63 Million
2021	42.44%	8.49%	0.97x	5.18x	฿552.48 Million
2022	36.99%	8.22%	0.83x	5.44x	฿565.42 Million
2023	27.42%	6.03%	0.85x	5.33x	฿363.74 Million
2024	11.39%	2.52%	0.72x	6.25x	฿27.02 Million

Industry Comparison

This section compares Forth Corporation Public Company Limited's net assets metrics with peer companies in the Conglomerates industry.

Industry Context

Industry: Conglomerates
Average net assets among peers: $66,083,856,552
Average return on equity (ROE) among peers: 7.28%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Forth Corporation Public Company Limited (FORTH)	฿3.21 Billion	6.46%	2.79x	$425.66 Million
Advanced Connection Corporation Public Company Limited (ACC)	$752.94 Million	5.12%	0.14x	$20.51 Million
Berli Jucker PCL (BJC)	$125.90 Billion	3.81%	1.69x	$1.81 Billion
Eastern Technical Engineering Public Company Limited (ETE)	$906.91 Million	2.57%	1.36x	$10.82 Million
Loxley Public Company Limited (LOXLEY)	$4.41 Billion	5.19%	1.14x	$110.13 Million
MBK Public Company Limited (MBK)	$28.46 Billion	15.04%	1.36x	$836.39 Million
MBK Public Company Limited (MBK-R)	$20.35 Billion	10.09%	1.09x	$775.40 Million
The Siam Cement Public Company Limited (SCC)	$396.13 Billion	8.62%	0.89x	$9.28 Billion
Siamraj Public Company Limited (SR)	$952.03 Million	10.69%	0.45x	$5.69 Million
Saha-Union Public Company Limited (SUC)	$16.90 Billion	4.37%	0.30x	$252.47 Million

About Forth Corporation Public Company Limited

BK:FORTH Thailand Conglomerates

Market Cap

$425.66 Million

฿13.66 Billion THB

Market Cap Rank

#13236 Global

#143 in Thailand

Share Price

฿14.60

Change (1 day)

-3.95%

52-Week Range

฿5.45 - ฿17.50

All Time High

฿60.67