Mandarin Hotel Public Company Limited (MANRIN) - Net Assets

Latest as of September 2025: ฿468.16 Million THB ≈ $14.59 Million USD

Based on the latest financial reports, Mandarin Hotel Public Company Limited (MANRIN) has net assets worth ฿468.16 Million THB (≈ $14.59 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 (฿669.48 Million ≈ $20.87 Million USD) and total liabilities (฿201.31 Million ≈ $6.27 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 Mandarin Hotel Public Company Limited (MANRIN) tangible equity ratio to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	฿468.16 Million
% of Total Assets	69.93%
Annual Growth Rate	-1.33%
5-Year Change	-0.12%
10-Year Change	-4.07%
Growth Volatility	8.42

Mandarin Hotel Public Company Limited - Net Assets Trend (2000–2024)

This chart illustrates how Mandarin Hotel Public Company Limited's net assets have evolved over time, based on quarterly financial data. See MANRIN days of operational coverage to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Mandarin Hotel Public Company Limited (2000–2024)

The table below shows the annual net assets of Mandarin Hotel Public Company Limited from 2000 to 2024. For live valuation and market cap data, see Mandarin Hotel Public Company Limited market capitalisation.

Year	Net Assets	Change
2024-12-31	฿438.54 Million ≈ $13.67 Million	+13.11%
2023-12-31	฿387.72 Million ≈ $12.09 Million	+9.82%
2022-12-31	฿353.04 Million ≈ $11.00 Million	-9.53%
2021-12-31	฿390.22 Million ≈ $12.16 Million	-11.12%
2020-12-31	฿439.06 Million ≈ $13.69 Million	-16.50%
2019-12-31	฿525.83 Million ≈ $16.39 Million	+5.13%
2018-12-31	฿500.15 Million ≈ $15.59 Million	+4.22%
2017-12-31	฿479.92 Million ≈ $14.96 Million	+4.11%
2016-12-31	฿460.97 Million ≈ $14.37 Million	+0.83%
2015-12-31	฿457.16 Million ≈ $14.25 Million	-4.37%
2014-12-31	฿478.04 Million ≈ $14.90 Million	-5.97%
2013-12-31	฿508.39 Million ≈ $15.85 Million	-6.78%
2012-12-31	฿545.37 Million ≈ $17.00 Million	-3.78%
2011-12-31	฿566.77 Million ≈ $17.67 Million	-7.16%
2010-12-31	฿610.50 Million ≈ $19.03 Million	+21.69%
2009-12-31	฿501.69 Million ≈ $15.64 Million	-5.41%
2008-12-31	฿530.36 Million ≈ $16.53 Million	-10.55%
2007-12-31	฿592.95 Million ≈ $18.48 Million	-4.20%
2006-12-31	฿618.91 Million ≈ $19.29 Million	+2.30%
2005-12-31	฿605.00 Million ≈ $18.86 Million	+4.65%
2004-12-31	฿578.10 Million ≈ $18.02 Million	+0.78%
2003-12-31	฿573.61 Million ≈ $17.88 Million	+4.39%
2002-12-31	฿549.46 Million ≈ $17.13 Million	-1.28%
2001-12-31	฿556.56 Million ≈ $17.35 Million	-8.00%
2000-12-31	฿604.96 Million ≈ $18.86 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Mandarin Hotel 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 decreased by 138.8% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Common Stock	฿269.06 Million	61.35%
Other Comprehensive Income	฿26.91 Million	6.14%
Other Components	฿204.20 Million	46.56%
Total Equity	฿438.54 Million	100.00%

Mandarin Hotel Public Company Limited Competitors by Market Cap

The table below lists competitors of Mandarin Hotel Public Company Limited ranked by their market capitalization.

Company	Market Cap
DeepMarkit Corp V:MKT	$19.37 Million
Quickfee Ltd AU:QFE	$19.39 Million
Manganese X Energy Corp V:MN	$19.40 Million
Grid Metals Corp V:GRDM	$19.40 Million
Altima Resources Ltd V:ARH	$19.37 Million
NB Distressed Debt Inv Extended Life LSE:NBDX	$19.37 Million
Unique Mining Services Public Company Limited BK:UMS	$19.36 Million
Trendline TA:TREN	$19.35 Million

Equity Growth Attribution

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

Equity Growth Insights

From 2023 to 2024, total equity changed from 387,723,844 to 438,544,888, a change of 50,821,044 (13.1%).
Net income of 50,821,043 contributed positively to equity growth.
Dividend payments of 154,987 reduced retained earnings.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	฿50.82 Million	+11.59%
Dividends Paid	฿154.99K	-0.04%
Other Changes	฿154.99K	+0.04%
Total Change	฿-	13.11%

Book Value vs Market Value Analysis

This analysis compares Mandarin Hotel 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: 1.42x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has increased from 0.89x to 1.42x over the analyzed period, suggesting growing market confidence.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2003-12-31	฿25.93	฿23.10	x
2004-12-31	฿26.02	฿23.10	x
2005-12-31	฿27.32	฿23.10	x
2006-12-31	฿27.95	฿23.10	x
2007-12-31	฿26.78	฿23.10	x
2008-12-31	฿23.95	฿23.10	x
2009-12-31	฿22.80	฿23.10	x
2010-12-31	฿26.60	฿23.10	x
2011-12-31	฿21.07	฿23.10	x
2012-12-31	฿20.27	฿23.10	x
2013-12-31	฿18.90	฿23.10	x
2014-12-31	฿17.77	฿23.10	x
2015-12-31	฿16.99	฿23.10	x
2016-12-31	฿17.13	฿23.10	x
2017-12-31	฿17.84	฿23.10	x
2018-12-31	฿18.59	฿23.10	x
2019-12-31	฿19.54	฿23.10	x
2020-12-31	฿16.32	฿23.10	x
2021-12-31	฿14.50	฿23.10	x
2022-12-31	฿13.12	฿23.10	x
2023-12-31	฿14.41	฿23.10	x
2024-12-31	฿16.30	฿23.10	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Mandarin Hotel 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): 11.59%
The company shows good efficiency in utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 13.53%
• Asset Turnover: 0.54x
• Equity Multiplier: 1.58x
Recent ROE (11.59%) is above the historical average (1.85%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2000	41.70%	180.28%	0.10x	2.25x	฿191.76 Million
2001	9.84%	41.57%	0.23x	1.04x	฿-867.40K
2003	8.05%	21.45%	0.36x	1.04x	฿-11.21 Million
2004	4.77%	12.95%	0.35x	1.04x	฿-30.22 Million
2005	8.09%	21.95%	0.35x	1.04x	฿-11.56 Million
2006	8.47%	22.55%	0.36x	1.05x	฿-9.48 Million
2007	2.67%	8.70%	0.30x	1.03x	฿-43.46 Million
2008	-8.90%	-46.99%	0.18x	1.07x	฿-100.22 Million
2009	-5.72%	-33.36%	0.16x	1.06x	฿-78.84 Million
2010	9.79%	69.87%	0.14x	1.02x	฿-1.29 Million
2011	-3.94%	-27.13%	0.14x	1.04x	฿-79.01 Million
2012	-4.05%	-88.75%	0.03x	1.58x	฿-76.62 Million
2013	-9.04%	-83.45%	0.05x	2.33x	฿-96.79 Million
2014	-6.35%	-11.76%	0.23x	2.35x	฿-78.15 Million
2015	-4.57%	-6.63%	0.30x	2.29x	฿-66.60 Million
2016	0.83%	1.17%	0.33x	2.14x	฿-42.29 Million
2017	3.95%	5.77%	0.35x	1.94x	฿-29.04 Million
2018	4.05%	6.12%	0.39x	1.69x	฿-29.78 Million
2019	4.81%	7.59%	0.42x	1.49x	฿-27.26 Million
2020	-16.88%	-70.05%	0.12x	1.93x	฿-118.03 Million
2021	-12.52%	-214.53%	0.03x	2.14x	฿-87.86 Million
2022	-11.30%	-24.22%	0.20x	2.30x	฿-75.19 Million
2023	8.95%	10.71%	0.43x	1.96x	฿-4.09 Million
2024	11.59%	13.53%	0.54x	1.58x	฿6.97 Million

Industry Comparison

This section compares Mandarin Hotel Public Company Limited's net assets metrics with peer companies in the Lodging industry.

Industry Context

Industry: Lodging
Average net assets among peers: $6,375,612,610
Average return on equity (ROE) among peers: 9.15%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Mandarin Hotel Public Company Limited (MANRIN)	฿468.16 Million	41.70%	0.43x	$19.37 Million
Asia Hotel Public Company Limited (ASIA)	$6.09 Billion	-1.84%	0.72x	$53.36 Million
Bound and Beyond PCL (BEYOND)	$6.27 Billion	-0.59%	1.10x	$77.19 Million
The Erawan Group Public Company Limited (ERW)	$3.27 Billion	-8.40%	2.96x	$456.96 Million
Grande Asset Hotels and Property Public Company Limited (GRAND)	$890.15 Million	82.39%	6.51x	$8.73 Million
Laguna Resorts & Hotels Public Company Limited (LRH)	$18.91 Billion	6.82%	0.32x	$175.34 Million
Minor International Public Company Limited (MINT)	$12.40 Billion	15.94%	1.02x	$4.28 Billion
OHTL Public Company Limited (OHTL)	$1.20 Billion	11.28%	1.18x	$132.23 Million
Royal Orchid Hotel (Thailand) Public Company Limited (ROH)	$1.05 Billion	-22.26%	0.62x	$35.41 Million
Shangri-La Hotel Public Company Limited (SHANG)	$7.29 Billion	-1.01%	0.07x	$180.31 Million

About Mandarin Hotel Public Company Limited

BK:MANRIN Thailand Lodging

Market Cap

$19.37 Million

฿621.52 Million THB

Market Cap Rank

#25237 Global

#494 in Thailand

Share Price

฿23.10

Change (1 day)

-3.35%

52-Week Range

฿20.90 - ฿27.25

All Time High

฿44.18