Heng Leasing & Capital PCL
Heng Leasing and Capital Public Company Limited provides financial services in Thailand. The company offers hire purchase, loans secured against vehicle registrations, land and building loans, regulated personal loans with and without motor vehicle registration as collateral, and nano finance without collateral. It also provides secured, unsecured, mortgage, and occupational loans; and non-life a… Read more
Heng Leasing & Capital PCL (HENG) - Net Assets
Latest net assets as of December 2025: ฿5.08 Billion THB
Based on the latest financial reports, Heng Leasing & Capital PCL (HENG) has net assets worth ฿5.08 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 (฿9.18 Billion) and total liabilities (฿4.10 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 | ฿5.08 Billion |
| % of Total Assets | 55.32% |
| Annual Growth Rate | 40.45% |
| 5-Year Change | 5.42% |
| 10-Year Change | N/A |
| Growth Volatility | 147.39 |
Heng Leasing & Capital PCL - Net Assets Trend (2016–2025)
This chart illustrates how Heng Leasing & Capital 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 Heng Leasing & Capital PCL (2016–2025)
The table below shows the annual net assets of Heng Leasing & Capital PCL from 2016 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ฿5.08 Billion | -3.13% |
| 2024-12-31 | ฿5.24 Billion | -3.24% |
| 2023-12-31 | ฿5.42 Billion | +3.27% |
| 2022-12-31 | ฿5.24 Billion | +8.91% |
| 2021-12-31 | ฿4.82 Billion | +38.73% |
| 2020-12-31 | ฿3.47 Billion | +5.19% |
| 2019-12-31 | ฿3.30 Billion | +17.16% |
| 2018-12-31 | ฿2.82 Billion | +103.63% |
| 2017-12-31 | ฿1.38 Billion | +479.34% |
| 2016-12-31 | ฿238.72 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Heng Leasing & Capital 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 51732931200.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿451.05 Million | 8.89% |
| Other Components | ฿4.63 Billion | 91.11% |
| Total Equity | ฿5.08 Billion | 100.00% |
Heng Leasing & Capital PCL Competitors by Market Cap
The table below lists competitors of Heng Leasing & Capital PCL ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Sherritt International Corporation
PINK:SHERF
|
$38.71 Million |
|
Awale Resources Ltd
V:ARIC
|
$38.72 Million |
|
Pierce Group AB
ST:PIERCE
|
$38.72 Million |
|
Sunshine Metals Ltd
AU:SHN
|
$38.72 Million |
|
Steer Technologies Inc.
V:ARGH
|
$38.70 Million |
|
Zapata Computing Holdings Inc. Common Stock
NASDAQ:ZPTA
|
$38.68 Million |
|
3S KOREA Co. Ltd
KQ:060310
|
$38.66 Million |
|
Lojas Quero-Quero S.A
SA:LJQQ3
|
$38.66 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Heng Leasing & Capital PCL's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 5,240,440,725 to 5,076,516,759, a change of -163,923,966 (-3.1%).
- Net income of 33,980,379 contributed positively to equity growth.
- Dividend payments of 200,025,000 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿33.98 Million | +0.67% |
| Dividends Paid | ฿200.03 Million | -3.94% |
| Other Changes | ฿2.12 Million | +0.04% |
| Total Change | ฿- | -3.13% |
Book Value vs Market Value Analysis
This analysis compares Heng Leasing & Capital 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: 0.68x
- 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 decreased from 2.48x to 0.68x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | ฿0.36 | ฿0.90 | x |
| 2018-12-31 | ฿0.74 | ฿0.90 | x |
| 2019-12-31 | ฿0.87 | ฿0.90 | x |
| 2020-12-31 | ฿0.91 | ฿0.90 | x |
| 2021-12-31 | ฿1.51 | ฿0.90 | x |
| 2022-12-31 | ฿1.38 | ฿0.90 | x |
| 2023-12-31 | ฿1.42 | ฿0.90 | x |
| 2024-12-31 | ฿1.38 | ฿0.90 | x |
| 2025-12-31 | ฿1.33 | ฿0.90 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Heng Leasing & Capital 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): 0.67%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.61%
- • Asset Turnover: 0.23x
- • Equity Multiplier: 1.81x
- Recent ROE (0.67%) is below the historical average (5.45%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | 2.75% | 4.54% | 0.17x | 3.57x | ฿-100.25 Million |
| 2018 | 5.39% | 10.91% | 0.18x | 2.80x | ฿-129.80 Million |
| 2019 | 5.72% | 11.02% | 0.21x | 2.42x | ฿-141.28 Million |
| 2020 | 9.16% | 20.48% | 0.19x | 2.37x | ฿-29.04 Million |
| 2021 | 7.35% | 22.44% | 0.16x | 2.01x | ฿-127.75 Million |
| 2022 | 8.79% | 22.40% | 0.17x | 2.34x | ฿-63.31 Million |
| 2023 | 7.79% | 20.86% | 0.13x | 2.89x | ฿-119.60 Million |
| 2024 | 1.39% | 2.61% | 0.21x | 2.50x | ฿-451.06 Million |
| 2025 | 0.67% | 1.61% | 0.23x | 1.81x | ฿-473.67 Million |
Industry Comparison
This section compares Heng Leasing & Capital PCL's net assets metrics with peer companies in the Credit Services industry.
Industry Context
- Industry: Credit Services
- Average net assets among peers: $1,042,362,786
- Average return on equity (ROE) among peers: 9.90%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Heng Leasing & Capital PCL (HENG) | ฿5.08 Billion | 2.75% | 0.81x | $38.71 Million |
| ASIA Capital Group Public Company Limited (ACAP) | $1.00 Billion | 21.24% | 3.53x | $1.71 Million |
| AEON Thana Sinsap (Thailand) Public Company Limited (AEONTS) | $3.93 Billion | 27.71% | 6.13x | $163.14 Million |
| AIRA Factoring Public Company Limited (AF) | $127.47 Million | -18.31% | 5.77x | $1.14 Million |
| Amanah Leasing Public Company Limited (AMANAH) | $1.37 Billion | 18.08% | 1.58x | $12.17 Million |
| Asia Sermkij Leasing Public Company Limited (ASK) | $1.95 Billion | 14.85% | 6.89x | $93.23 Million |
| Chase Asia PCL (CHASE) | $-209.42 Million | 0.00% | 0.00x | $7.20 Million |
| Chayo Group Public Company Limited (CHAYO) | $201.79 Million | 2.02% | 0.17x | $19.33 Million |
| Eastern Commercial Leasing Public Company Limited (ECL) | $678.63 Million | 6.76% | 1.76x | $11.11 Million |
| G Capital Public Company Limited (GCAP) | $329.74 Million | 16.74% | 1.97x | $3.52 Million |