Inoue Rubber (Thailand) Public Company Limited (IRC) - Net Assets

Latest as of September 2025: ฿4.14 Billion THB ≈ $128.90 Million USD

Based on the latest financial reports, Inoue Rubber (Thailand) Public Company Limited (IRC) has net assets worth ฿4.14 Billion THB (≈ $128.90 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿5.31 Billion ≈ $165.55 Million USD) and total liabilities (฿1.18 Billion ≈ $36.65 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 IRC asset resilience ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	฿4.14 Billion
% of Total Assets	77.86%
Annual Growth Rate	8.98%
5-Year Change	6.19%
10-Year Change	29.2%
Growth Volatility	7.59

Inoue Rubber (Thailand) Public Company Limited - Net Assets Trend (2000–2025)

This chart illustrates how Inoue Rubber (Thailand) Public Company Limited's net assets have evolved over time, based on quarterly financial data. Also explore Inoue Rubber (Thailand) Public Company L (IRC) total assets for the complete picture of this company's asset base.

Annual Net Assets for Inoue Rubber (Thailand) Public Company Limited (2000–2025)

The table below shows the annual net assets of Inoue Rubber (Thailand) Public Company Limited from 2000 to 2025. For live valuation and market cap data, see Inoue Rubber (Thailand) Public Company L (IRC) total market value.

Year	Net Assets	Change
2025-09-30	฿4.14 Billion ≈ $128.90 Million	-0.90%
2024-09-30	฿4.17 Billion ≈ $130.07 Million	+6.20%
2023-09-30	฿3.93 Billion ≈ $122.47 Million	+2.54%
2022-09-30	฿3.83 Billion ≈ $119.44 Million	-1.60%
2021-09-30	฿3.89 Billion ≈ $121.39 Million	+9.73%
2020-09-30	฿3.55 Billion ≈ $110.62 Million	-0.90%
2019-09-30	฿3.58 Billion ≈ $111.62 Million	-0.42%
2018-09-30	฿3.60 Billion ≈ $112.09 Million	+5.25%
2017-09-30	฿3.42 Billion ≈ $106.50 Million	+6.75%
2016-09-30	฿3.20 Billion ≈ $99.77 Million	+11.77%
2015-09-30	฿2.86 Billion ≈ $89.26 Million	+12.31%
2014-09-30	฿2.55 Billion ≈ $79.48 Million	+6.41%
2013-09-30	฿2.40 Billion ≈ $74.69 Million	+18.15%
2012-09-30	฿2.03 Billion ≈ $63.22 Million	-1.01%
2011-09-30	฿2.05 Billion ≈ $63.86 Million	+2.52%
2010-09-30	฿2.00 Billion ≈ $62.29 Million	+12.66%
2009-09-30	฿1.77 Billion ≈ $55.29 Million	+10.64%
2008-09-30	฿1.60 Billion ≈ $49.97 Million	+12.74%
2007-09-30	฿1.42 Billion ≈ $44.32 Million	+19.77%
2006-09-30	฿1.19 Billion ≈ $37.01 Million	+9.62%
2005-09-30	฿1.08 Billion ≈ $33.76 Million	+13.94%
2004-09-30	฿950.63 Million ≈ $29.63 Million	+17.95%
2003-09-30	฿805.95 Million ≈ $25.12 Million	+25.64%
2002-09-30	฿641.45 Million ≈ $19.99 Million	+23.03%
2001-09-30	฿521.40 Million ≈ $16.25 Million	+8.33%
2000-09-30	฿481.30 Million ≈ $15.00 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Inoue 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 362762158800.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (September 2025)

Component	Amount	Percentage
Retained Earnings	฿3.63 Billion	87.72%
Other Components	฿507.88 Million	12.28%
Total Equity	฿4.14 Billion	100.00%

Inoue Rubber (Thailand) Public Company Limited Competitors by Market Cap

The table below lists competitors of Inoue Rubber (Thailand) Public Company Limited ranked by their market capitalization.

Company	Market Cap
Pathfinder Bancorp Inc NASDAQ:PBHC	$68.32 Million
Daekyo KO:019680	$68.40 Million
Epitomee Medical Ltd TA:EPIT	$68.42 Million
Great Boulder Resources Ltd AU:GBR	$68.44 Million
Gemvaxlink Co. Ltd KQ:064800	$68.25 Million
Pylon Public Company Limited BK:PYLON	$68.25 Million
Flag Ship Acquisition Corp. Unit NASDAQ:FSHPU	$68.23 Million
Pliant Therapeutics Inc NASDAQ:PLRX	$68.21 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Inoue Rubber (Thailand) Public Company Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 4,172,919,457 to 4,135,504,391, a change of -37,415,066 (-0.9%).
Net income of 184,256,995 contributed positively to equity growth.
Dividend payments of 166,836,314 reduced retained earnings.
Other comprehensive income decreased equity by 20,000,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	฿184.26 Million	+4.46%
Dividends Paid	฿166.84 Million	-4.03%
Other Comprehensive Income	฿-20.00 Million	-0.48%
Other Changes	฿-34.84 Million	-0.84%
Total Change	฿-	-0.90%

Book Value vs Market Value Analysis

This analysis compares Inoue 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: 0.53x
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 2.11x to 0.53x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2005-09-30	฿5.40	฿11.40	x
2006-09-30	฿5.93	฿11.40	x
2007-09-30	฿7.09	฿11.40	x
2008-09-30	฿8.04	฿11.40	x
2009-09-30	฿8.87	฿11.40	x
2010-09-30	฿9.99	฿11.40	x
2011-09-30	฿10.24	฿11.40	x
2012-09-30	฿10.14	฿11.40	x
2013-09-30	฿11.98	฿11.40	x
2014-09-30	฿12.75	฿11.40	x
2015-09-30	฿14.32	฿11.40	x
2016-09-30	฿16.00	฿11.40	x
2017-09-30	฿17.08	฿11.40	x
2018-09-30	฿17.98	฿11.40	x
2019-09-30	฿17.91	฿11.40	x
2020-09-30	฿18.14	฿11.40	x
2021-09-30	฿20.26	฿11.40	x
2022-09-30	฿19.94	฿11.40	x
2023-09-30	฿20.44	฿11.40	x
2024-09-30	฿21.71	฿11.40	x
2025-09-30	฿21.52	฿11.40	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Inoue 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): 4.46%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 3.99%
• Asset Turnover: 0.87x
• Equity Multiplier: 1.28x
Recent ROE (4.46%) is below the historical average (11.98%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2000	14.55%	4.42%	1.12x	2.94x	฿21.89 Million
2001	7.69%	2.30%	1.18x	2.83x	฿-12.04 Million
2002	20.28%	6.32%	1.25x	2.56x	฿65.91 Million
2004	21.95%	6.94%	1.50x	2.11x	฿113.62 Million
2005	18.51%	5.19%	1.59x	2.24x	฿92.16 Million
2006	14.51%	3.77%	1.67x	2.30x	฿53.50 Million
2007	20.58%	5.93%	1.89x	1.84x	฿150.50 Million
2008	17.29%	4.87%	1.77x	2.01x	฿116.90 Million
2009	14.69%	5.74%	1.59x	1.61x	฿83.24 Million
2010	15.44%	5.72%	1.72x	1.57x	฿108.67 Million
2011	7.34%	2.48%	1.64x	1.80x	฿-54.48 Million
2012	5.06%	1.56%	1.53x	2.11x	฿-100.28 Million
2013	17.07%	6.03%	1.74x	1.62x	฿169.48 Million
2014	12.29%	5.75%	1.41x	1.52x	฿58.49 Million
2015	15.42%	8.61%	1.29x	1.39x	฿155.14 Million
2016	16.05%	10.37%	1.16x	1.33x	฿193.55 Million
2017	12.40%	8.10%	1.13x	1.36x	฿82.10 Million
2018	9.97%	6.45%	1.10x	1.41x	฿-1.01 Million
2019	4.65%	3.07%	1.12x	1.35x	฿-191.57 Million
2020	6.17%	5.02%	0.95x	1.29x	฿-135.84 Million
2021	8.73%	6.42%	1.00x	1.36x	฿-49.42 Million
2022	2.87%	1.87%	1.12x	1.38x	฿-273.26 Million
2023	4.07%	2.95%	1.08x	1.28x	฿-233.17 Million
2024	7.46%	6.80%	0.87x	1.27x	฿-105.79 Million
2025	4.46%	3.99%	0.87x	1.28x	฿-229.29 Million

Industry Comparison

This section compares Inoue 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: $2,150,183,860
Average return on equity (ROE) among peers: 6.79%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Inoue Rubber (Thailand) Public Company Limited (IRC)	฿4.14 Billion	14.55%	0.28x	$68.30 Million
AAPICO Hitech Public Company Limited (AH)	$5.47 Billion	11.16%	1.30x	$139.32 Million
CPR Gomu Industrial PCL (CPR)	$758.04 Million	12.32%	0.13x	$16.75 Million
Chai Watana Tannery Group Public Company Limited (CWT)	$421.02 Million	-26.44%	2.48x	$15.32 Million
Fortune Parts Industry Public Company Limited (FPI)	$945.15 Million	20.35%	1.50x	$77.81 Million
Goodyear (Thailand) Public Company Limited (GYT)	$3.91 Billion	9.87%	0.32x	$42.09 Million
Hwa Fong Rubber (Thailand) Public Company Limited (HFT)	$3.61 Billion	6.92%	0.14x	$85.38 Million
Interhides Public Company Limited (IHL)	$708.87 Million	20.94%	2.03x	$26.79 Million
Ingress Industrial (Thailand) Public Company Limited (INGRS)	$2.55 Billion	3.84%	0.76x	$16.24 Million
N.D. Rubber Public Company Limited (NDR)	$982.88 Million	2.15%	0.28x	$17.66 Million

About Inoue Rubber (Thailand) Public Company Limited

BK:IRC Thailand Auto Parts

Market Cap

$68.30 Million

฿2.19 Billion THB

Market Cap Rank

#20662 Global

#322 in Thailand

Share Price

฿11.40

Change (1 day)

+0.88%

52-Week Range

฿10.60 - ฿12.60

All Time High

฿20.29