Information and Communication Networks Public Company Limited (ICN) - Net Assets
Based on the latest financial reports, Information and Communication Networks Public Company Limited (ICN) has net assets worth ฿903.97 Million THB (≈ $28.18 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿2.13 Billion ≈ $66.51 Million USD) and total liabilities (฿1.23 Billion ≈ $38.33 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 ICN tangible net assets ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ฿903.97 Million |
| % of Total Assets | 42.37% |
| Annual Growth Rate | 19.07% |
| 5-Year Change | 34.38% |
| 10-Year Change | 447.53% |
| Growth Volatility | 55.59 |
Information and Communication Networks Public Company Limited - Net Assets Trend (2014–2025)
This chart illustrates how Information and Communication Networks Public Company Limited's net assets have evolved over time, based on quarterly financial data. See operational self-sufficiency of Information and Communication Networks P to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Information and Communication Networks Public Company Limited (2014–2025)
The table below shows the annual net assets of Information and Communication Networks Public Company Limited from 2014 to 2025. For live valuation and market cap data, see Information and Communication Networks P market cap and net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ฿903.97 Million ≈ $28.18 Million |
-1.21% |
| 2024-12-31 | ฿915.01 Million ≈ $28.52 Million |
+2.02% |
| 2023-12-31 | ฿896.92 Million ≈ $27.96 Million |
+8.93% |
| 2022-12-31 | ฿823.37 Million ≈ $25.66 Million |
+22.40% |
| 2021-12-31 | ฿672.69 Million ≈ $20.97 Million |
+12.77% |
| 2020-12-31 | ฿596.51 Million ≈ $18.59 Million |
+4.08% |
| 2019-12-31 | ฿573.11 Million ≈ $17.86 Million |
+10.42% |
| 2018-12-31 | ฿519.05 Million ≈ $16.18 Million |
+4.58% |
| 2017-12-31 | ฿496.34 Million ≈ $15.47 Million |
+200.63% |
| 2016-12-31 | ฿165.10 Million ≈ $5.15 Million |
+19.65% |
| 2015-12-31 | ฿137.99 Million ≈ $4.30 Million |
+4.13% |
| 2014-12-31 | ฿132.52 Million ≈ $4.13 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Information and Communication Networks 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 1649.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿260.00 Million | 29.63% |
| Other Components | ฿617.41 Million | 70.37% |
| Total Equity | ฿877.41 Million | 100.00% |
Information and Communication Networks Public Company Limited Competitors by Market Cap
The table below lists competitors of Information and Communication Networks Public Company Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Metal Sky Star Acquisition Corporation Ordinary shares
NASDAQ:MSSA
|
$43.21 Million |
|
AWC Berhad
KLSE:7579
|
$43.23 Million |
|
Global SM Tech Limited
KQ:900070
|
$43.24 Million |
|
Molinos Juan Semino SA
BA:SEMI
|
$43.24 Million |
|
Mustek Ltd
JSE:MST
|
$43.15 Million |
|
Cyan AG
XETRA:CYR
|
$43.14 Million |
|
Globe Metals & Mining Ltd
AU:GBE
|
$43.14 Million |
|
LTKM Bhd
KLSE:7085
|
$43.12 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Information and Communication Networks Public Company Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 889,690,950 to 877,414,173, a change of -12,276,777 (-1.4%).
- Net income of 101,974,678 contributed positively to equity growth.
- Dividend payments of 107,531,455 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿101.97 Million | +11.62% |
| Dividends Paid | ฿107.53 Million | -12.26% |
| Other Changes | ฿-6.72 Million | -0.77% |
| Total Change | ฿- | -1.38% |
Book Value vs Market Value Analysis
This analysis compares Information and Communication Networks 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: 1.58x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 7.00x to 1.58x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2014-12-31 | ฿0.29 | ฿2.06 | x |
| 2015-12-31 | ฿0.31 | ฿2.06 | x |
| 2016-12-31 | ฿0.37 | ฿2.06 | x |
| 2017-12-31 | ฿1.48 | ฿2.06 | x |
| 2018-12-31 | ฿1.15 | ฿2.06 | x |
| 2019-12-31 | ฿1.23 | ฿2.06 | x |
| 2020-12-31 | ฿1.27 | ฿2.06 | x |
| 2021-12-31 | ฿1.39 | ฿2.06 | x |
| 2022-12-31 | ฿1.34 | ฿2.06 | x |
| 2023-12-31 | ฿1.38 | ฿2.06 | x |
| 2024-12-31 | ฿1.32 | ฿2.06 | x |
| 2025-12-31 | ฿1.31 | ฿2.06 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Information and Communication Networks 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): 11.62%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 9.19%
- • Asset Turnover: 0.52x
- • Equity Multiplier: 2.43x
- Recent ROE (11.62%) is below the historical average (14.66%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2014 | 0.25% | 0.14% | 0.94x | 1.96x | ฿-12.92 Million |
| 2015 | 3.96% | 0.81% | 1.55x | 3.18x | ฿-8.33 Million |
| 2016 | 16.42% | 4.76% | 1.19x | 2.91x | ฿10.60 Million |
| 2017 | 13.33% | 6.92% | 0.99x | 1.96x | ฿16.54 Million |
| 2018 | 16.33% | 8.35% | 1.19x | 1.65x | ฿32.88 Million |
| 2019 | 16.97% | 7.81% | 0.99x | 2.19x | ฿38.47 Million |
| 2020 | 19.46% | 7.60% | 1.00x | 2.57x | ฿54.29 Million |
| 2021 | 24.22% | 8.91% | 1.69x | 1.61x | ฿92.18 Million |
| 2022 | 16.57% | 9.19% | 1.06x | 1.71x | ฿52.58 Million |
| 2023 | 20.06% | 9.42% | 0.88x | 2.43x | ฿87.78 Million |
| 2024 | 16.67% | 10.42% | 0.79x | 2.02x | ฿59.33 Million |
| 2025 | 11.62% | 9.19% | 0.52x | 2.43x | ฿14.23 Million |
Industry Comparison
This section compares Information and Communication Networks 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: $8,516,550,727
- Average return on equity (ROE) among peers: 6.67%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Information and Communication Networks Public Company Limited (ICN) | ฿903.97 Million | 0.25% | 1.36x | $43.15 Million |
| Advanced Info Service Public Company Limited (ADVANC) | $46.86 Billion | 76.89% | 1.70x | $33.19 Billion |
| Forth Smart Service Public Company Limited (FSMART) | $1.02 Billion | 26.71% | 1.20x | $166.67 Million |
| Interlink Telecom Public Company Limited (ITEL) | $288.21 Million | -4.45% | 1.57x | $82.35 Million |
| Jasmine International Public Company Limited (JAS) | $6.66 Billion | 3.06% | 1.39x | $312.73 Million |
| Jasmine International Public Company Limited (JAS-R) | $4.96 Billion | -63.07% | 19.13x | $413.53 Million |
| Jasmine Telecom Systems Public Company Limited (JTS) | $1.25 Billion | -14.26% | 1.16x | $805.82 Million |
| Samart Telcoms Public Company Limited (SAMTEL) | $3.68 Billion | 9.55% | 1.43x | $59.71 Million |
| Symphony Communication Public Company Limited (SYMC) | $1.29 Billion | 14.07% | 1.40x | $65.96 Million |
| True Corporation Public Company Limited (TRUE) | $10.64 Billion | 11.53% | 9.94x | $14.86 Billion |
About Information and Communication Networks Public Company Limited
Information and Communication Networks Public Company Limited operates as a telecommunication system integrator company in Thailand. The company provides construction services for telecommunication networks; various services for the expansion of the telecommunication system and network; services for the network improvement of telecommunication systems; and design and installation of construction … Read more