Forth Smart Service Public Company Limited

BK:FSMART Thailand Telecom Services
Market Cap
$140.09 Million
฿4.86 Billion THB
Market Cap Rank
#20962 Global
#215 in Thailand
Share Price
฿6.45
Change (1 day)
-0.77%
52-Week Range
฿5.45 - ฿9.45
All Time High
฿23.99
Categories
Companies in Thailand Telecom Services
About

Forth Smart Service Public Company Limited, together with its subsidiaries, provides prepaid mobile top-up services in Thailand. The company operates through two segments, Top up machine and Lending. It renders money transfer, online payment receival, and advertising services through online top-up machines, as well as provides services relating to online top-up machines and distributes goods. In … Read more

Forth Smart Service Public Company Limited (FSMART) - Net Assets

Latest net assets as of September 2025: ฿1.60 Billion THB

Based on the latest financial reports, Forth Smart Service Public Company Limited (FSMART) has net assets worth ฿1.60 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 (฿3.52 Billion) and total liabilities (฿1.91 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 ฿1.60 Billion
% of Total Assets 45.62%
Annual Growth Rate 14.72%
5-Year Change 12.38%
10-Year Change 26.91%
Growth Volatility 48.35

Forth Smart Service Public Company Limited - Net Assets Trend (2012–2024)

This chart illustrates how Forth Smart Service 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 Forth Smart Service Public Company Limited (2012–2024)

The table below shows the annual net assets of Forth Smart Service Public Company Limited from 2012 to 2024.

Year Net Assets Change
2024-12-31 ฿1.29 Billion +10.24%
2023-12-31 ฿1.17 Billion +3.85%
2022-12-31 ฿1.13 Billion +0.06%
2021-12-31 ฿1.13 Billion -1.89%
2020-12-31 ฿1.15 Billion -13.97%
2019-12-31 ฿1.34 Billion +6.71%
2018-12-31 ฿1.25 Billion -6.18%
2017-12-31 ฿1.33 Billion +12.79%
2016-12-31 ฿1.18 Billion +16.23%
2015-12-31 ฿1.02 Billion +0.77%
2014-12-31 ฿1.01 Billion +173.51%
2013-12-31 ฿369.20 Million +48.54%
2012-12-31 ฿248.55 Million --

Equity Component Analysis

This analysis shows how different components contribute to Forth Smart Service 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 51525082000.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component Amount Percentage
Retained Earnings ฿490.02 Million 37.95%
Common Stock ฿376.57 Million 29.16%
Other Comprehensive Income ฿40.00 Million 3.10%
Other Components ฿384.62 Million 29.79%
Total Equity ฿1.29 Billion 100.00%

Forth Smart Service Public Company Limited Competitors by Market Cap

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

Company Market Cap
RENERGEN LTD CDI/1:1
F:996
 		$53.11 Million
Canadian Gold Corp.
F:8S8
 		$53.11 Million
Seacon Shipping Group Holdings Limited
F:K2N
 		$53.12 Million
ARYZTA AG
OTCGREY:ARZTF
 		$53.13 Million
Vakko Tekstil ve Hazir Giyim Sanayi Isletmeleri AS
IS:VAKKO
 		$53.10 Million
INFINITT Healthcare Co. Ltd
KQ:071200
 		$53.10 Million
Thermaltake Technology Co Ltd
TWO:3540
 		$53.09 Million
Esso (Thailand) Public Company Limited
BK:BSRC
 		$53.08 Million

Equity Growth Attribution

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

Equity Growth Insights

  • From 2023 to 2024, total equity changed from 1,171,266,278 to 1,291,210,133, a change of 119,943,855 (10.2%).
  • Net income of 430,448,221 contributed positively to equity growth.
  • Dividend payments of 308,786,435 reduced retained earnings.

Equity Change Factors (2023 to 2024)

Factor Impact Contribution
Net Income ฿430.45 Million +33.34%
Dividends Paid ฿308.79 Million -23.91%
Other Changes ฿-1.72 Million -0.13%
Total Change ฿- 10.24%

Book Value vs Market Value Analysis

This analysis compares Forth Smart Service 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: 3.77x
  • 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 5.77x to 3.77x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date Book Value per Share Market Price P/B Ratio
2012-12-31 ฿1.12 ฿6.45 x
2013-12-31 ฿0.46 ฿6.45 x
2014-12-31 ฿1.56 ฿6.45 x
2015-12-31 ฿1.27 ฿6.45 x
2016-12-31 ฿1.48 ฿6.45 x
2017-12-31 ฿1.66 ฿6.45 x
2018-12-31 ฿1.58 ฿6.45 x
2019-12-31 ฿1.71 ฿6.45 x
2020-12-31 ฿1.51 ฿6.45 x
2021-12-31 ฿1.50 ฿6.45 x
2022-12-31 ฿1.50 ฿6.45 x
2023-12-31 ฿1.56 ฿6.45 x
2024-12-31 ฿1.71 ฿6.45 x

Capital Efficiency Dashboard

This dashboard shows how efficiently Forth Smart Service 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): 33.34%
  • The company demonstrates strong efficiency in generating profits from shareholder equity.
  • DuPont Analysis Breakdown:
  • • Net Profit Margin: 19.74%
  • • Asset Turnover: 0.66x
  • • Equity Multiplier: 2.55x
  • Recent ROE (33.34%) is above the historical average (30.69%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year Return on Equity Net Profit Margin Asset Turnover Equity Multiplier Economic Value Added
2012 2.67% 1.18% 0.61x 3.68x ฿-18.22 Million
2013 25.58% 11.76% 0.71x 3.07x ฿57.51 Million
2014 15.20% 13.90% 0.62x 1.77x ฿52.50 Million
2015 26.71% 17.12% 0.71x 2.20x ฿169.99 Million
2016 35.54% 18.33% 0.72x 2.69x ฿302.07 Million
2017 40.96% 17.15% 0.74x 3.21x ฿410.34 Million
2018 46.82% 17.41% 0.86x 3.14x ฿458.56 Million
2019 43.91% 18.56% 0.89x 2.65x ฿451.18 Million
2020 40.39% 16.22% 0.83x 3.01x ฿349.17 Million
2021 35.49% 14.98% 0.91x 2.61x ฿287.33 Million
2022 26.77% 13.64% 0.78x 2.51x ฿189.10 Million
2023 25.57% 14.75% 0.74x 2.34x ฿182.33 Million
2024 33.34% 19.74% 0.66x 2.55x ฿301.33 Million

Industry Comparison

This section compares Forth Smart Service Public Company Limited's net assets metrics with peer companies in the Telecom Services industry.

Industry Context

  • Industry: Telecom Services
  • Average net assets among peers: $6,687,097,997
  • Average return on equity (ROE) among peers: 17.73%

Peer Company Comparison

Company Net Assets Return on Equity Debt-to-Equity Market Cap
Forth Smart Service Public Company Limited (FSMART) ฿1.60 Billion 2.67% 1.19x $53.11 Million
Bliss-Tel PLC (BLISS) $1.64 Billion 4.46% 0.10x $8.77
Information and Communication Networks Public Company Limited (ICN) $823.37 Million 16.10% 0.66x $20.30 Million
Intouch Holdings Public Company Limited (INTUCH) $37.94 Billion 30.29% 0.32x $1.96 Billion
Jasmine Telecom Systems Public Company Limited (JTS) $1.83 Billion 17.12% 1.23x $338.29 Million
PROEN Corp Public Company Limited (PROEN) $110.06 Million 15.08% 4.59x $7.41 Million
Samart Telcoms Public Company Limited (SAMTEL) $3.18 Billion 26.96% 2.93x $11.63 Million
Symphony Communication Public Company Limited (SYMC) $1.29 Billion 14.07% 1.40x $14.45 Million