Inoue Rubber (Thailand) Public Company Limited (IRC) - Net Assets
Based on the latest financial reports, Inoue Rubber (Thailand) Public Company Limited (IRC) has net assets worth ฿4.19 Billion THB (≈ $130.75 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 (฿5.22 Billion ≈ $162.67 Million USD) and total liabilities (฿1.02 Billion ≈ $31.91 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 Inoue Rubber (Thailand) Public Company L (IRC) tangible equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ฿4.19 Billion |
| % of Total Assets | 80.38% |
| 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. See Inoue Rubber (Thailand) Public Company L (IRC) defensive interval to measure how many days the company can operate on defensive assets alone.
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 |
|---|---|
|
Qilian International Holding Group Limited
NASDAQ:BGM
|
$70.12 Million |
|
Apollo Power Ltd
TA:APLP
|
$70.12 Million |
|
DrayTek Corp
TW:6216
|
$70.12 Million |
|
Welspun Investments and Commercials Limited
NSE:WELINV
|
$70.15 Million |
|
EMEK Elektrik Endustrisi AS
IS:EMKEL
|
$70.08 Million |
|
Ferrum S.A.
BA:FERR
|
$69.99 Million |
|
Scana ASA
OL:SCANA
|
$69.99 Million |
|
Vitura S.A.
PA:VTR
|
$69.90 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: 0.54x
- 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 2.17x to 0.54x 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 | ฿11.70 | x |
| 2006-09-30 | ฿5.93 | ฿11.70 | x |
| 2007-09-30 | ฿7.09 | ฿11.70 | x |
| 2008-09-30 | ฿8.04 | ฿11.70 | x |
| 2009-09-30 | ฿8.87 | ฿11.70 | x |
| 2010-09-30 | ฿9.99 | ฿11.70 | x |
| 2011-09-30 | ฿10.24 | ฿11.70 | x |
| 2012-09-30 | ฿10.14 | ฿11.70 | x |
| 2013-09-30 | ฿11.98 | ฿11.70 | x |
| 2014-09-30 | ฿12.75 | ฿11.70 | x |
| 2015-09-30 | ฿14.32 | ฿11.70 | x |
| 2016-09-30 | ฿16.00 | ฿11.70 | x |
| 2017-09-30 | ฿17.08 | ฿11.70 | x |
| 2018-09-30 | ฿17.98 | ฿11.70 | x |
| 2019-09-30 | ฿17.91 | ฿11.70 | x |
| 2020-09-30 | ฿18.14 | ฿11.70 | x |
| 2021-09-30 | ฿20.26 | ฿11.70 | x |
| 2022-09-30 | ฿19.94 | ฿11.70 | x |
| 2023-09-30 | ฿20.44 | ฿11.70 | x |
| 2024-09-30 | ฿21.71 | ฿11.70 | x |
| 2025-09-30 | ฿21.52 | ฿11.70 | 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: $2,756,002,215
- Average return on equity (ROE) among peers: 8.27%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Inoue Rubber (Thailand) Public Company Limited (IRC) | ฿4.19 Billion | 14.55% | 0.24x | $70.09 Million |
| AAPICO Hitech Public Company Limited (AH) | $10.99 Billion | 6.79% | 1.10x | $148.75 Million |
| CPR Gomu Industrial PCL (CPR) | $204.99 Million | 23.27% | 0.76x | $16.38 Million |
| Chai Watana Tannery Group Public Company Limited (CWT) | $755.29 Million | 3.98% | 1.02x | $17.48 Million |
| Fortune Parts Industry Public Company Limited (FPI) | $1.59 Billion | 1.18% | 0.80x | $69.32 Million |
| Goodyear (Thailand) Public Company Limited (GYT) | $4.01 Billion | 3.44% | 0.42x | $41.98 Million |
| Hwa Fong Rubber (Thailand) Public Company Limited (HFT) | $3.62 Billion | 10.30% | 0.22x | $82.91 Million |
| Interhides Public Company Limited (IHL) | $1.66 Billion | 6.02% | 1.23x | $24.94 Million |
| Ingress Industrial (Thailand) Public Company Limited (INGRS) | $1.79 Billion | -16.84% | 2.79x | $16.24 Million |
| N.D. Rubber Public Company Limited (NDR) | $180.83 Million | 36.29% | 1.66x | $26.63 Million |
About Inoue Rubber (Thailand) Public Company Limited
Inoue Rubber (Thailand) Public Company Limited engages in the research, development, manufacture, and distribution of motorcycle tires and tubes in Thailand and internationally. The company offers industrial elastomer rubber parts for automobile, motorcycle, machinery for agriculture and fishery, infrastructure project, construction, and other industries. It also offers automotive elastomer produ… Read more