POSCO-Thainox Public Company Limited (INOX) - Net Assets

Latest as of December 2025: ฿9.04 Billion THB ≈ $281.90 Million USD

Based on the latest financial reports, POSCO-Thainox Public Company Limited (INOX) has net assets worth ฿9.04 Billion THB (≈ $281.90 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 (฿11.32 Billion ≈ $352.76 Million USD) and total liabilities (฿2.27 Billion ≈ $70.86 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 tangible net worth ratio of POSCO-Thainox Public Company Limited to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	฿9.04 Billion
% of Total Assets	79.91%
Annual Growth Rate	-0.07%
5-Year Change	-7.95%
10-Year Change	-1.44%
Growth Volatility	11.13

POSCO-Thainox Public Company Limited - Net Assets Trend (2003–2025)

This chart illustrates how POSCO-Thainox Public Company Limited's net assets have evolved over time, based on quarterly financial data. See POSCO-Thainox Public Company Limited liquidity coverage in days to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for POSCO-Thainox Public Company Limited (2003–2025)

The table below shows the annual net assets of POSCO-Thainox Public Company Limited from 2003 to 2025. For live valuation and market cap data, see POSCO-Thainox Public Company Limited (INOX) market capitalisation.

Year	Net Assets	Change
2025-12-31	฿9.04 Billion ≈ $281.90 Million	-2.67%
2024-12-31	฿9.29 Billion ≈ $289.64 Million	+3.86%
2023-12-31	฿8.95 Billion ≈ $278.86 Million	-2.84%
2022-12-31	฿9.21 Billion ≈ $287.02 Million	-6.28%
2021-12-31	฿9.83 Billion ≈ $306.25 Million	+10.07%
2020-12-31	฿8.93 Billion ≈ $278.24 Million	-0.31%
2019-12-31	฿8.95 Billion ≈ $279.10 Million	-5.25%
2018-12-31	฿9.45 Billion ≈ $294.58 Million	+3.90%
2017-12-31	฿9.10 Billion ≈ $283.51 Million	-0.87%
2016-12-31	฿9.18 Billion ≈ $286.01 Million	+5.56%
2015-12-31	฿8.69 Billion ≈ $270.96 Million	+1.40%
2014-12-31	฿8.57 Billion ≈ $267.21 Million	+2.68%
2013-12-31	฿8.35 Billion ≈ $260.24 Million	-19.89%
2012-12-31	฿10.42 Billion ≈ $324.87 Million	-3.10%
2011-12-31	฿10.76 Billion ≈ $335.25 Million	-8.87%
2010-12-31	฿11.80 Billion ≈ $367.90 Million	+4.33%
2009-12-31	฿11.31 Billion ≈ $352.62 Million	+5.74%
2008-12-31	฿10.70 Billion ≈ $333.48 Million	-12.36%
2007-12-31	฿12.21 Billion ≈ $380.54 Million	-1.19%
2006-12-31	฿12.36 Billion ≈ $385.13 Million	+3.47%
2005-12-31	฿11.94 Billion ≈ $372.21 Million	-8.08%
2004-12-31	฿12.99 Billion ≈ $404.94 Million	+41.35%
2003-12-31	฿9.19 Billion ≈ $286.47 Million	--

Equity Component Analysis

This analysis shows how different components contribute to POSCO-Thainox 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 32727255200.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	฿327.27 Million	3.62%
Other Components	฿8.72 Billion	96.38%
Total Equity	฿9.04 Billion	100.00%

POSCO-Thainox Public Company Limited Competitors by Market Cap

The table below lists competitors of POSCO-Thainox Public Company Limited ranked by their market capitalization.

Company	Market Cap
Jsti Group SHE:300284	$1.03 Billion
Banco Products (I) Limited NSE:BANCOINDIA	$1.03 Billion
Aksa Akrilik Kimya Sanayi AS IS:AKSA	$1.03 Billion
Cyient Limited NSE:CYIENT	$1.03 Billion
Suzhou Keda Technology Co Ltd SHG:603660	$1.03 Billion
Hunan Heshun Petroleum Co Ltd SHG:603353	$1.03 Billion
ASA Gold and Precious Metals Ltd NYSE:ASA	$1.03 Billion
Zhejiang Tianyu Pharmaceutical Co Ltd SHE:300702	$1.03 Billion

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 9,292,447,329 to 9,044,280,936, a change of -248,166,393 (-2.7%).
Net loss of 62,043,554 reduced equity.
Dividend payments of 179,283,727 reduced retained earnings.
Other comprehensive income decreased equity by 589,168,020.
Other factors increased equity by 582,328,908.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	฿-62.04 Million	-0.69%
Dividends Paid	฿179.28 Million	-1.98%
Other Comprehensive Income	฿-589.17 Million	-6.51%
Other Changes	฿582.33 Million	+6.44%
Total Change	฿-	-2.67%

Book Value vs Market Value Analysis

This analysis compares POSCO-Thainox 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: 3.64x
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 increased from 2.82x to 3.64x over the analyzed period, suggesting growing market confidence.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2005-12-31	฿1.49	฿4.22	x
2006-12-31	฿1.59	฿4.22	x
2007-12-31	฿1.57	฿4.22	x
2008-12-31	฿1.37	฿4.22	x
2009-12-31	฿1.45	฿4.22	x
2010-12-31	฿1.51	฿4.22	x
2011-12-31	฿1.38	฿4.22	x
2012-12-31	฿1.34	฿4.22	x
2013-12-31	฿1.07	฿4.22	x
2014-12-31	฿1.10	฿4.22	x
2015-12-31	฿1.12	฿4.22	x
2016-12-31	฿1.18	฿4.22	x
2017-12-31	฿1.17	฿4.22	x
2018-12-31	฿1.21	฿4.22	x
2019-12-31	฿1.15	฿4.22	x
2020-12-31	฿1.15	฿4.22	x
2021-12-31	฿1.26	฿4.22	x
2022-12-31	฿1.18	฿4.22	x
2023-12-31	฿1.15	฿4.22	x
2024-12-31	฿1.19	฿4.22	x
2025-12-31	฿1.16	฿4.22	x

Capital Efficiency Dashboard

This dashboard shows how efficiently POSCO-Thainox 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): -0.69%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: -0.47%
• Asset Turnover: 1.17x
• Equity Multiplier: 1.25x
Recent ROE (-0.69%) is below the historical average (3.72%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2003	29.15%	21.87%	0.84x	1.59x	฿1.76 Billion
2004	13.74%	12.18%	0.75x	1.49x	฿485.69 Million
2005	2.91%	2.58%	0.86x	1.32x	฿-847.00 Million
2006	16.70%	13.65%	0.80x	1.52x	฿827.35 Million
2007	1.10%	0.73%	1.07x	1.41x	฿-1.09 Billion
2008	-10.88%	-8.20%	0.86x	1.54x	฿-2.23 Billion
2009	3.59%	5.09%	0.52x	1.35x	฿-724.15 Million
2010	5.46%	6.14%	0.63x	1.42x	฿-535.64 Million
2011	-5.72%	-5.57%	0.72x	1.42x	฿-1.69 Billion
2012	-0.17%	-0.13%	0.88x	1.42x	฿-1.06 Billion
2013	-3.81%	-2.99%	0.89x	1.44x	฿-1.15 Billion
2014	2.56%	1.61%	1.12x	1.42x	฿-637.67 Million
2015	1.38%	1.02%	1.05x	1.29x	฿-749.45 Million
2016	6.42%	4.30%	1.15x	1.29x	฿-328.65 Million
2017	3.47%	2.04%	1.19x	1.43x	฿-593.53 Million
2018	5.95%	3.49%	1.26x	1.36x	฿-382.65 Million
2019	-0.72%	-0.45%	1.24x	1.30x	฿-960.02 Million
2020	-0.20%	-0.13%	1.21x	1.22x	฿-910.12 Million
2021	9.01%	4.63%	1.38x	1.41x	฿-96.97 Million
2022	3.41%	1.34%	2.03x	1.26x	฿-606.56 Million
2023	-0.82%	-0.52%	1.21x	1.30x	฿-967.75 Million
2024	3.78%	2.44%	1.20x	1.29x	฿-578.41 Million
2025	-0.69%	-0.47%	1.17x	1.25x	฿-966.47 Million

Industry Comparison

This section compares POSCO-Thainox Public Company Limited's net assets metrics with peer companies in the Steel industry.

Industry Context

Industry: Steel
Average net assets among peers: $3,865,422,948
Average return on equity (ROE) among peers: -0.42%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
POSCO-Thainox Public Company Limited (INOX)	฿9.04 Billion	29.15%	0.25x	$1.03 Billion
2S Metal Public Company Limited (2S)	$391.53 Million	28.82%	0.43x	$52.46 Million
Asia Metal Public Company Limited (AMC)	$2.19 Billion	6.06%	0.70x	$31.72 Million
Bangsaphan Barmill Public Company Limited (BSBM)	$1.67 Billion	-8.71%	0.01x	$20.97 Million
Capital Engineering Network Public Company Limited (CEN)	$2.37 Billion	2.49%	0.31x	$13.70 Million
Chow Steel Industries Public Company Limited (CHOW)	$921.24 Million	-31.46%	10.06x	$34.16 Million
CSP Steel Center Public Company Limited (CSP)	$677.99 Million	-13.40%	1.97x	$6.96 Million
G J Steel Public Company Limited (GJS)	$21.17 Billion	-0.83%	0.47x	$111.22 Million
Lohakit Metal Public Company Limited (LHK)	$1.45 Billion	10.24%	0.58x	$41.30 Million
M.C.S. Steel Public Company Limited (MCS)	$3.94 Billion	3.04%	0.72x	$113.74 Million

About POSCO-Thainox Public Company Limited

BK:INOX Thailand Steel

Market Cap

$1.03 Billion

฿32.90 Billion THB

Market Cap Rank

#8969 Global

#77 in Thailand

Share Price

฿4.22

Change (1 day)

+0.48%

52-Week Range

฿0.35 - ฿4.48

All Time High

฿4.48