Hwa Fong Rubber (Thailand) Public Company Limited
Hwa Fong Rubber (Thailand) Public Company Limited, together with its subsidiaries, manufactures and distributes tires and tubes for bicycles, motorcycles, and small logistics vehicles in Thailand, rest of Asia, Europe, the United States, and internationally. It operates in two segments, Sales of Goods and Services, and Investment. The company offers tires for motorcycles, including sport, scooter… Read more
Hwa Fong Rubber (Thailand) Public Company Limited (HFT) - Net Assets
Latest net assets as of September 2025: ฿3.73 Billion THB
Based on the latest financial reports, Hwa Fong Rubber (Thailand) Public Company Limited (HFT) has net assets worth ฿3.73 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 (฿4.12 Billion) and total liabilities (฿385.79 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 | ฿3.73 Billion |
| % of Total Assets | 90.63% |
| Annual Growth Rate | 5.46% |
| 5-Year Change | 11.4% |
| 10-Year Change | 55.19% |
| Growth Volatility | 7.59 |
Hwa Fong Rubber (Thailand) Public Company Limited - Net Assets Trend (2003–2024)
This chart illustrates how Hwa Fong Rubber (Thailand) 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 Hwa Fong Rubber (Thailand) Public Company Limited (2003–2024)
The table below shows the annual net assets of Hwa Fong Rubber (Thailand) Public Company Limited from 2003 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ฿3.62 Billion | +0.34% |
| 2023-12-31 | ฿3.61 Billion | -0.01% |
| 2022-12-31 | ฿3.61 Billion | +2.07% |
| 2021-12-31 | ฿3.54 Billion | +8.79% |
| 2020-12-31 | ฿3.25 Billion | +10.36% |
| 2019-12-31 | ฿2.95 Billion | +4.99% |
| 2018-12-31 | ฿2.81 Billion | +2.79% |
| 2017-12-31 | ฿2.73 Billion | +6.75% |
| 2016-12-31 | ฿2.56 Billion | +9.57% |
| 2015-12-31 | ฿2.34 Billion | +14.45% |
| 2014-12-31 | ฿2.04 Billion | +9.92% |
| 2013-12-31 | ฿1.86 Billion | +21.23% |
| 2012-12-31 | ฿1.53 Billion | +13.59% |
| 2011-12-31 | ฿1.35 Billion | -1.84% |
| 2010-12-31 | ฿1.37 Billion | +2.72% |
| 2009-12-31 | ฿1.34 Billion | -1.20% |
| 2008-12-31 | ฿1.35 Billion | -0.44% |
| 2007-12-31 | ฿1.36 Billion | +2.36% |
| 2006-12-31 | ฿1.33 Billion | +22.29% |
| 2005-12-31 | ฿1.09 Billion | -9.05% |
| 2004-12-31 | ฿1.19 Billion | +0.64% |
| 2003-12-31 | ฿1.19 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Hwa Fong Rubber (Thailand) 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 406.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿2.73 Billion | 75.24% |
| Common Stock | ฿658.43 Million | 18.17% |
| Other Comprehensive Income | ฿73.27 Million | 2.02% |
| Other Components | ฿165.71 Million | 4.57% |
| Total Equity | ฿3.62 Billion | 100.00% |
Hwa Fong Rubber (Thailand) Public Company Limited Competitors by Market Cap
The table below lists competitors of Hwa Fong Rubber (Thailand) Public Company Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
NVH Korea Inc
KQ:067570
|
$37.36 Million |
|
SEOHAN Const. & Eng.co.Ltd
KQ:011370
|
$37.37 Million |
|
Outset Medical Inc
NASDAQ:OM
|
$37.37 Million |
|
Powertech Industrial Co Ltd
TW:3296
|
$37.37 Million |
|
Cytosorbents Crp
NASDAQ:CTSO
|
$37.35 Million |
|
Rockwell Medical Inc
NASDAQ:RMTI
|
$37.35 Million |
|
Ubiqconn Technology, Inc.
TW:6928
|
$37.35 Million |
|
Kayseri Seker Fabrikasi AS
IS:KAYSE
|
$37.35 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Hwa Fong Rubber (Thailand) Public Company Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,611,529,605 to 3,623,771,108, a change of 12,241,503 (0.3%).
- Net income of 373,328,566 contributed positively to equity growth.
- Dividend payments of 378,928,354 reduced retained earnings.
- Other comprehensive income increased equity by 77,197,212.
- Other factors decreased equity by 59,355,921.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿373.33 Million | +10.3% |
| Dividends Paid | ฿378.93 Million | -10.46% |
| Other Comprehensive Income | ฿77.20 Million | +2.13% |
| Other Changes | ฿-59.36 Million | -1.64% |
| Total Change | ฿- | 0.34% |
Book Value vs Market Value Analysis
This analysis compares Hwa Fong Rubber (Thailand) 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: 0.77x
- 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 1.37x to 0.77x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2004-12-31 | ฿3.09 | ฿4.24 | x |
| 2005-12-31 | ฿2.80 | ฿4.24 | x |
| 2006-12-31 | ฿2.48 | ฿4.24 | x |
| 2007-12-31 | ฿2.06 | ฿4.24 | x |
| 2008-12-31 | ฿20.55 | ฿4.24 | x |
| 2009-12-31 | ฿2.03 | ฿4.24 | x |
| 2010-12-31 | ฿2.04 | ฿4.24 | x |
| 2011-12-31 | ฿2.18 | ฿4.24 | x |
| 2012-12-31 | ฿2.45 | ฿4.24 | x |
| 2013-12-31 | ฿2.82 | ฿4.24 | x |
| 2014-12-31 | ฿3.10 | ฿4.24 | x |
| 2015-12-31 | ฿3.55 | ฿4.24 | x |
| 2016-12-31 | ฿3.89 | ฿4.24 | x |
| 2017-12-31 | ฿4.15 | ฿4.24 | x |
| 2018-12-31 | ฿4.26 | ฿4.24 | x |
| 2019-12-31 | ฿4.48 | ฿4.24 | x |
| 2020-12-31 | ฿4.94 | ฿4.24 | x |
| 2021-12-31 | ฿5.37 | ฿4.24 | x |
| 2022-12-31 | ฿5.49 | ฿4.24 | x |
| 2023-12-31 | ฿5.49 | ฿4.24 | x |
| 2024-12-31 | ฿5.50 | ฿4.24 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Hwa Fong Rubber (Thailand) 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): 10.30%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 12.34%
- • Asset Turnover: 0.68x
- • Equity Multiplier: 1.22x
- Recent ROE (10.30%) is above the historical average (8.59%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2004 | 3.88% | 2.80% | 0.84x | 1.65x | ฿-73.03 Million |
| 2005 | -8.88% | -4.74% | 0.95x | 1.97x | ฿-205.03 Million |
| 2006 | -2.21% | -1.44% | 0.98x | 1.56x | ฿-162.13 Million |
| 2007 | 2.30% | 1.49% | 1.02x | 1.52x | ฿-104.61 Million |
| 2008 | 5.64% | 3.38% | 1.20x | 1.39x | ฿-59.02 Million |
| 2009 | 8.63% | 6.53% | 0.98x | 1.34x | ฿-18.27 Million |
| 2010 | 9.15% | 5.90% | 1.16x | 1.33x | ฿-11.14 Million |
| 2011 | 9.34% | 5.67% | 1.26x | 1.30x | ฿-8.94 Million |
| 2012 | 10.29% | 6.63% | 1.26x | 1.23x | ฿4.46 Million |
| 2013 | 17.27% | 13.77% | 1.05x | 1.20x | ฿134.95 Million |
| 2014 | 14.25% | 11.37% | 1.03x | 1.22x | ฿86.74 Million |
| 2015 | 17.72% | 15.98% | 0.93x | 1.19x | ฿180.27 Million |
| 2016 | 13.20% | 13.32% | 0.85x | 1.17x | ฿81.91 Million |
| 2017 | 9.36% | 9.36% | 0.86x | 1.16x | ฿-17.48 Million |
| 2018 | 7.97% | 8.75% | 0.76x | 1.19x | ฿-57.04 Million |
| 2019 | 9.46% | 10.19% | 0.75x | 1.24x | ฿-15.91 Million |
| 2020 | 12.68% | 15.48% | 0.69x | 1.19x | ฿87.33 Million |
| 2021 | 13.02% | 13.45% | 0.79x | 1.22x | ฿107.00 Million |
| 2022 | 10.01% | 10.60% | 0.83x | 1.13x | ฿383.68K |
| 2023 | 6.92% | 9.43% | 0.65x | 1.14x | ฿-111.28 Million |
| 2024 | 10.30% | 12.34% | 0.68x | 1.22x | ฿10.95 Million |
Industry Comparison
This section compares Hwa Fong Rubber (Thailand) Public Company Limited's net assets metrics with peer companies in the Auto Parts industry.
Industry Context
- Industry: Auto Parts
- Average net assets among peers: $1,895,012,648
- Average return on equity (ROE) among peers: 6.09%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Hwa Fong Rubber (Thailand) Public Company Limited (HFT) | ฿3.73 Billion | 3.88% | 0.10x | $37.35 Million |
| AAPICO Hitech Public Company Limited (AH) | $4.52 Billion | 5.09% | 1.05x | $75.69 Million |
| CPR Gomu Industrial PCL (CPR) | $475.50 Million | 13.62% | 0.18x | $3.23 Million |
| Chai Watana Tannery Group Public Company Limited (CWT) | $755.29 Million | 3.98% | 1.02x | $8.58 Million |
| Fortune Parts Industry Public Company Limited (FPI) | $1.33 Billion | 15.39% | 1.11x | $17.95 Million |
| Goodyear (Thailand) Public Company Limited (GYT) | $2.88 Billion | 8.09% | 0.26x | $7.46 Million |
| Interhides Public Company Limited (IHL) | $1.64 Billion | 3.49% | 1.44x | $6.94 Million |
| Ingress Industrial (Thailand) Public Company Limited (INGRS) | $2.46 Billion | -3.09% | 0.68x | $4.95 Million |
| Inoue Rubber (Thailand) Public Company Limited (IRC) | $2.05 Billion | 7.34% | 0.80x | $15.61 Million |
| N.D. Rubber Public Company Limited (NDR) | $946.85 Million | 0.86% | 0.29x | $8.48 Million |