Harn Engineering Solutions Public Company Limited (HARN) - Net Assets

Latest as of March 2026: ฿1.42 Billion THB ≈ $44.31 Million USD

Based on the latest financial reports, Harn Engineering Solutions Public Company Limited (HARN) has net assets worth ฿1.42 Billion THB (≈ $44.31 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿1.83 Billion ≈ $56.93 Million USD) and total liabilities (฿404.70 Million ≈ $12.61 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. Also explore balance sheet size of Harn Engineering Solutions Public Compan for the complete picture of this company's asset base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	฿1.42 Billion
% of Total Assets	77.84%
Annual Growth Rate	19.03%
5-Year Change	5.33%
10-Year Change	22.08%
Growth Volatility	55.64

Harn Engineering Solutions Public Company Limited - Net Assets Trend (2012–2025)

This chart illustrates how Harn Engineering Solutions Public Company Limited's net assets have evolved over time, based on quarterly financial data. Check Harn Engineering Solutions Public Compan (HARN) tangible equity ratio to evaluate the tangible quality of the company's equity base.

Annual Net Assets for Harn Engineering Solutions Public Company Limited (2012–2025)

The table below shows the annual net assets of Harn Engineering Solutions Public Company Limited from 2012 to 2025. For live valuation and market cap data, see HARN company net worth.

Year	Net Assets	Change
2025-12-31	฿1.39 Billion ≈ $43.29 Million	+0.78%
2024-12-31	฿1.38 Billion ≈ $42.95 Million	-0.37%
2023-12-31	฿1.38 Billion ≈ $43.11 Million	+2.56%
2022-12-31	฿1.35 Billion ≈ $42.04 Million	+2.28%
2021-12-31	฿1.32 Billion ≈ $41.10 Million	+0.07%
2020-12-31	฿1.32 Billion ≈ $41.07 Million	-0.31%
2019-12-31	฿1.32 Billion ≈ $41.20 Million	+4.30%
2018-12-31	฿1.27 Billion ≈ $39.50 Million	+4.32%
2017-12-31	฿1.21 Billion ≈ $37.86 Million	+6.77%
2016-12-31	฿1.14 Billion ≈ $35.46 Million	+151.80%
2015-12-31	฿451.80 Million ≈ $14.08 Million	-1.90%
2014-12-31	฿460.53 Million ≈ $14.35 Million	+162.09%
2013-12-31	฿175.71 Million ≈ $5.48 Million	+21.76%
2012-12-31	฿144.32 Million ≈ $4.50 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Harn Engineering Solutions 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 308.5% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	฿294.42 Million	21.17%
Common Stock	฿292.25 Million	21.01%
Other Comprehensive Income	฿27.89 Million	2.00%
Other Components	฿776.42 Million	55.82%
Total Equity	฿1.39 Billion	100.00%

Harn Engineering Solutions Public Company Limited Competitors by Market Cap

The table below lists competitors of Harn Engineering Solutions Public Company Limited ranked by their market capitalization.

Company	Market Cap
Visang Educati KO:100220	$37.90 Million
Vivoryon Therapeutics NV AS:VVY	$37.91 Million
Panjawattana Plastic Public Company Limited BK:PJW	$37.91 Million
CHINA MAPLE LE.ED.HD0005 F:CML1	$37.91 Million
Petrolia SE OL:PSE	$37.89 Million
Aurumin Ltd AU:AUN	$37.88 Million
Taiwan Benefit Co TWO:3379	$37.87 Million
Power Solution Technologies Public Company Limited BK:PSTC	$37.80 Million

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 1,379,322,000 to 1,390,973,000, a change of 11,651,000 (0.8%).
Net income of 83,896,000 contributed positively to equity growth.
Dividend payments of 70,140,000 reduced retained earnings.
Other comprehensive income decreased equity by 1,336,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	฿83.90 Million	+6.03%
Dividends Paid	฿70.14 Million	-5.04%
Other Comprehensive Income	฿-1.34 Million	-0.1%
Other Changes	฿-769.00K	-0.06%
Total Change	฿-	0.84%

Book Value vs Market Value Analysis

This analysis compares Harn Engineering Solutions 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: 0.87x
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 0.53x to 0.87x over the analyzed period, suggesting growing market confidence.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2012-12-31	฿3.93	฿2.08	x
2013-12-31	฿1.35	฿2.08	x
2014-12-31	฿1.89	฿2.08	x
2015-12-31	฿1.29	฿2.08	x
2016-12-31	฿3.06	฿2.08	x
2017-12-31	฿2.08	฿2.08	x
2018-12-31	฿2.17	฿2.08	x
2019-12-31	฿2.26	฿2.08	x
2020-12-31	฿2.25	฿2.08	x
2021-12-31	฿2.25	฿2.08	x
2022-12-31	฿2.31	฿2.08	x
2023-12-31	฿2.37	฿2.08	x
2024-12-31	฿2.36	฿2.08	x
2025-12-31	฿2.38	฿2.08	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Harn Engineering Solutions 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): 6.03%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 7.10%
• Asset Turnover: 0.66x
• Equity Multiplier: 1.29x
Recent ROE (6.03%) is below the historical average (12.57%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2012	41.46%	11.94%	2.04x	1.70x	฿44.73 Million
2013	34.81%	11.79%	1.84x	1.60x	฿43.59 Million
2014	13.16%	10.59%	1.00x	1.24x	฿14.55 Million
2015	10.23%	8.14%	1.00x	1.26x	฿1.02 Million
2016	3.56%	6.28%	0.47x	1.21x	฿-73.23 Million
2017	10.68%	10.08%	0.88x	1.20x	฿8.21 Million
2018	10.60%	9.99%	0.87x	1.22x	฿7.64 Million
2019	11.32%	10.95%	0.86x	1.21x	฿17.45 Million
2020	7.44%	8.50%	0.70x	1.26x	฿-33.72 Million
2021	5.48%	7.04%	0.61x	1.28x	฿-59.53 Million
2022	6.59%	7.28%	0.68x	1.32x	฿-46.02 Million
2023	8.24%	8.77%	0.74x	1.27x	฿-24.30 Million
2024	6.35%	7.07%	0.69x	1.30x	฿-50.33 Million
2025	6.03%	7.10%	0.66x	1.29x	฿-55.20 Million

Industry Comparison

This section compares Harn Engineering Solutions Public Company Limited's net assets metrics with peer companies in the Security & Protection Services industry.

Industry Context

Industry: Security & Protection Services
Average net assets among peers: $548,233,420
Average return on equity (ROE) among peers: 16.43%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Harn Engineering Solutions Public Company Limited (HARN)	฿1.42 Billion	41.46%	0.28x	$37.89 Million
Firetrade Engineering PCL (FTE)	$742.90 Million	17.59%	0.19x	$57.60 Million
Phol Dhanya Public Company Limited (PHOL)	$353.56 Million	15.28%	0.81x	$20.32 Million

About Harn Engineering Solutions Public Company Limited

BK:HARN Thailand Security & Protection Services

Market Cap

$37.89 Million

฿1.22 Billion THB

Market Cap Rank

#22917 Global

#420 in Thailand

Share Price

฿2.08

Change (1 day)

+0.00%

52-Week Range

฿1.92 - ฿2.12

All Time High

฿2.48