LH Shopping Centers Leasehold
LH Shopping Centers Leasehold Real Estate Investment Trust is a real estate investment trust externally managed by Land and Houses Fund Management Company Limited. The firm invest in the leasehold right in the immovable properties and the ownership in the movable properties in Terminal 21 Shopping Center from L&H Property Company Limited in an approximate total area of 97,905 square meters, for a… Read more
LH Shopping Centers Leasehold (LHSC) - Net Assets
Latest net assets as of September 2025: ฿9.89 Billion THB
Based on the latest financial reports, LH Shopping Centers Leasehold (LHSC) has net assets worth ฿9.89 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 (฿13.83 Billion) and total liabilities (฿3.94 Billion). 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 | ฿9.89 Billion |
| % of Total Assets | 71.49% |
| Annual Growth Rate | 6.47% |
| 5-Year Change | 60.14% |
| 10-Year Change | 66.96% |
| Growth Volatility | 16.42 |
LH Shopping Centers Leasehold - Net Assets Trend (2014–2024)
This chart illustrates how LH Shopping Centers Leasehold's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for LH Shopping Centers Leasehold (2014–2024)
The table below shows the annual net assets of LH Shopping Centers Leasehold from 2014 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ฿9.34 Billion | +55.54% |
| 2023-12-31 | ฿6.00 Billion | +2.46% |
| 2022-12-31 | ฿5.86 Billion | +1.80% |
| 2021-12-31 | ฿5.76 Billion | -1.30% |
| 2020-12-31 | ฿5.83 Billion | -1.24% |
| 2019-12-31 | ฿5.91 Billion | +2.31% |
| 2018-12-31 | ฿5.77 Billion | +1.93% |
| 2017-12-31 | ฿5.66 Billion | +1.40% |
| 2016-12-31 | ฿5.58 Billion | -0.16% |
| 2015-12-31 | ฿5.59 Billion | +12.09% |
| 2014-12-31 | ฿4.99 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to LH Shopping Centers Leasehold'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 10414.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿1.26 Billion | 13.47% |
| Common Stock | ฿8.08 Billion | 86.53% |
| Total Equity | ฿9.34 Billion | 100.00% |
LH Shopping Centers Leasehold Competitors by Market Cap
The table below lists competitors of LH Shopping Centers Leasehold ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Zheshang Development Group Co Ltd
SHE:000906
|
$267.61 Million |
|
Bombay Burmah Trading Corporation Limited
NSE:BBTC
|
$267.63 Million |
|
Blockchain Group SA
PA:ALTBG
|
$267.70 Million |
|
Binggrae
KO:005180
|
$267.76 Million |
|
Zhonghong Pulin Medical Products Co. Ltd.
SHE:300981
|
$267.47 Million |
|
Enel Generación Chile S.A
SN:ENELGXCH
|
$267.43 Million |
|
Energiekontor AG
F:EKT
|
$267.18 Million |
|
Ranger Energy Services Inc
NYSE:RNGR
|
$267.18 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in LH Shopping Centers Leasehold's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 6,004,085,768 to 9,338,935,901, a change of 3,334,850,133 (55.5%).
- Net income of 789,136,299 contributed positively to equity growth.
- Dividend payments of 556,944,065 reduced retained earnings.
- New share issuances of 3,132,000,000 increased equity.
- Other comprehensive income decreased equity by 6,004,085,768.
- Other factors increased equity by 5,974,743,667.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿789.14 Million | +8.45% |
| Dividends Paid | ฿556.94 Million | -5.96% |
| Share Issuances | ฿3.13 Billion | +33.54% |
| Other Comprehensive Income | ฿-6.00 Billion | -64.29% |
| Other Changes | ฿5.97 Billion | +63.98% |
| Total Change | ฿- | 55.54% |
Book Value vs Market Value Analysis
This analysis compares LH Shopping Centers Leasehold'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: 0.74x
- 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 1.38x to 0.74x 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 | ฿10.22 | ฿14.10 | x |
| 2015-12-31 | ฿11.46 | ฿14.10 | x |
| 2016-12-31 | ฿11.44 | ฿14.10 | x |
| 2017-12-31 | ฿11.60 | ฿14.10 | x |
| 2018-12-31 | ฿11.83 | ฿14.10 | x |
| 2019-12-31 | ฿12.10 | ฿14.10 | x |
| 2020-12-31 | ฿11.95 | ฿14.10 | x |
| 2021-12-31 | ฿11.79 | ฿14.10 | x |
| 2022-12-31 | ฿12.01 | ฿14.10 | x |
| 2023-12-31 | ฿12.30 | ฿14.10 | x |
| 2024-12-31 | ฿19.07 | ฿14.10 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently LH Shopping Centers Leasehold 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): 8.45%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 50.43%
- • Asset Turnover: 0.12x
- • Equity Multiplier: 1.43x
- Recent ROE (8.45%) is above the historical average (7.66%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 14.29% | 71.13% | 0.16x | 1.26x | ฿240.15 Million |
| 2016 | 9.18% | 43.78% | 0.17x | 1.26x | ฿-45.92 Million |
| 2017 | 9.30% | 42.95% | 0.17x | 1.26x | ฿-39.70 Million |
| 2018 | 9.50% | 42.12% | 0.18x | 1.23x | ฿-28.65 Million |
| 2019 | 10.18% | 45.59% | 0.18x | 1.22x | ฿10.61 Million |
| 2020 | 2.03% | 17.85% | 0.09x | 1.20x | ฿-464.96 Million |
| 2021 | -0.51% | -7.70% | 0.06x | 1.20x | ฿-605.10 Million |
| 2022 | 4.94% | 35.74% | 0.12x | 1.20x | ฿-296.76 Million |
| 2023 | 9.23% | 43.93% | 0.18x | 1.19x | ฿-46.19 Million |
| 2024 | 8.45% | 50.43% | 0.12x | 1.43x | ฿-144.76 Million |
Industry Comparison
This section compares LH Shopping Centers Leasehold's net assets metrics with peer companies in the REIT - Diversified industry.
Industry Context
- Industry: REIT - Diversified
- Average net assets among peers: $7,339,007,046
- Average return on equity (ROE) among peers: 8.01%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| LH Shopping Centers Leasehold (LHSC) | ฿9.89 Billion | 14.29% | 0.40x | $267.53 Million |
| CPN Retail Growth Leasehold REIT (CPNREIT) | $17.62 Billion | 13.53% | 0.09x | $675.00 Million |
| Hydrogen Freehold & Leasehold Real Estate Investment Trust (HYDROGEN) | $1.83 Billion | 8.06% | 0.49x | $11.51 Million |
| KTBST Mixed Leasehold Real Estate Investment Trust (KTBSTMR) | $3.10 Billion | 7.81% | 0.44x | $27.67 Million |
| S Prime Growth Leasehold Real Estate Investment Trust (SPRIME) | $4.62 Billion | 6.66% | 0.35x | $30.69 Million |
| WHA Premium Growth Freehold And Leasehold Real Estate Investment Trust (WHART) | $9.54 Billion | 3.98% | 0.46x | $737.43 Million |