Master Style PCL
Master Style Public Company Limited operates a cosmetic surgery hospital under the Masterpiece Hospital name in Thailand. The company offers surgical services, including rhinoplasty; eye, eyebrow, and forehead lifts; vaser liposuction and body transformation; tummy tuck; facial restructuring; eye; and other beauty surgeries. It also provides hair transplant and treatment services; laser, face res… Read more
Master Style PCL (MASTER) - Net Assets
Latest net assets as of September 2024: ฿3.29 Billion THB
Based on the latest financial reports, Master Style PCL (MASTER) has net assets worth ฿3.29 Billion THB as of September 2024.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿4.02 Billion) and total liabilities (฿733.10 Million). 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 | ฿3.29 Billion |
| % of Total Assets | 81.78% |
| Annual Growth Rate | 160.76% |
| 5-Year Change | 5046.21% |
| 10-Year Change | N/A |
| Growth Volatility | 231.16 |
Master Style PCL - Net Assets Trend (2018–2023)
This chart illustrates how Master Style PCL's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Master Style PCL (2018–2023)
The table below shows the annual net assets of Master Style PCL from 2018 to 2023.
| Year | Net Assets | Change |
|---|---|---|
| 2023-12-31 | ฿2.99 Billion | +640.86% |
| 2022-12-31 | ฿403.75 Million | +142.28% |
| 2021-12-31 | ฿166.64 Million | -34.99% |
| 2020-12-31 | ฿256.35 Million | +341.04% |
| 2019-12-31 | ฿58.12 Million | +134.13% |
| 2018-12-31 | ฿24.83 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Master Style PCL'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 1560.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2023)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿395.59 Million | 13.23% |
| Common Stock | ฿264.00 Million | 8.83% |
| Other Comprehensive Income | ฿26.40 Million | 0.88% |
| Other Components | ฿2.31 Billion | 77.07% |
| Total Equity | ฿2.99 Billion | 100.00% |
Master Style PCL Competitors by Market Cap
The table below lists competitors of Master Style PCL ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Arcario AB
ST:ARCA
|
$29.05 Million |
|
Starbreeze AB (publ)
PINK:STBEF
|
$29.06 Million |
|
IFGL Refractories Limited
NSE:IFGLEXPOR
|
$29.06 Million |
|
Pacific West Bancorp
PINK:PWBK
|
$29.07 Million |
|
Chungdamglobal Co. Ltd.
KQ:362320
|
$29.04 Million |
|
Rimbunan Sawit Bhd
KLSE:5113
|
$29.04 Million |
|
Natural Beauty Bio-Technology Limited
PINK:NBBTF
|
$29.03 Million |
|
Finnovate Acquisition Corp
NASDAQ:FNVT
|
$29.03 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Master Style PCL's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2022 to 2023, total equity changed from 403,746,777 to 2,991,180,550, a change of 2,587,433,773 (640.9%).
- Net income of 416,299,438 contributed positively to equity growth.
- Dividend payments of 74,664,147 reduced retained earnings.
- Share repurchases of 67,677,500 reduced equity.
- New share issuances of 2,300,000,000 increased equity.
- Other comprehensive income increased equity by 2,400,000.
Equity Change Factors (2022 to 2023)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿416.30 Million | +13.92% |
| Dividends Paid | ฿74.66 Million | -2.5% |
| Share Repurchases | ฿67.68 Million | -2.26% |
| Share Issuances | ฿2.30 Billion | +76.89% |
| Other Comprehensive Income | ฿2.40 Million | +0.08% |
| Other Changes | ฿11.08 Million | +0.37% |
| Total Change | ฿- | 640.86% |
Book Value vs Market Value Analysis
This analysis compares Master Style PCL'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: 0.89x
- 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 108.77x to 0.89x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2018-12-31 | ฿0.08 | ฿8.95 | x |
| 2019-12-31 | ฿0.19 | ฿8.95 | x |
| 2020-12-31 | ฿0.85 | ฿8.95 | x |
| 2021-12-31 | ฿0.55 | ฿8.95 | x |
| 2022-12-31 | ฿1.34 | ฿8.95 | x |
| 2023-12-31 | ฿10.01 | ฿8.95 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Master Style PCL 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): 13.92%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 21.72%
- • Asset Turnover: 0.53x
- • Equity Multiplier: 1.22x
- Recent ROE (13.92%) is below the historical average (62.92%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2018 | 18.02% | 2.12% | 3.94x | 2.16x | ฿1.99 Million |
| 2019 | 123.18% | 16.74% | 1.94x | 3.79x | ฿65.79 Million |
| 2020 | 50.15% | 21.04% | 1.25x | 1.91x | ฿102.92 Million |
| 2021 | 97.69% | 24.68% | 1.10x | 3.60x | ฿146.13 Million |
| 2022 | 74.53% | 20.30% | 1.57x | 2.34x | ฿260.55 Million |
| 2023 | 13.92% | 21.72% | 0.53x | 1.22x | ฿117.18 Million |
Industry Comparison
This section compares Master Style PCL's net assets metrics with peer companies in the Medical Care Facilities industry.
Industry Context
- Industry: Medical Care Facilities
- Average net assets among peers: $12,146,695,048
- Average return on equity (ROE) among peers: 10.14%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Master Style PCL (MASTER) | ฿3.29 Billion | 18.02% | 0.22x | $29.05 Million |
| Aikchol Hospital Public Company Limited (AHC) | $2.09 Billion | 6.07% | 0.17x | $29.15 Million |
| Bangkok Dusit Medical Services Public Company Limited (BDMS) | $98.87 Billion | 14.54% | 0.45x | $6.15 Billion |
| Bumrungrad Hospital PCL (BH) | $6.73 Billion | 23.58% | 1.00x | $3.43 Billion |
| Chularat Hospital Public Company Limited (CHG) | $8.26 Billion | 11.25% | 0.24x | $204.12 Million |
| Chiang Mai Ram Medical Business Public Company Limited (CMR) | $3.42 Billion | 11.31% | 0.63x | $21.83 Million |
| Dental Corporation Public Company Limited (D) | $33.68 Million | 0.00% | 3.96x | $9.20 Million |
| Ekachai Medical Care Public Company Limited (EKH) | $862.00 Million | 13.60% | 0.12x | $56.43 Million |
| Genesis Fertility Center Public Company Limited (GFC) | $566.32 Million | 13.68% | 0.13x | $4.77 Million |
| Mukdahan International Hospital Public Company Limited (HANN) | $189.39 Million | 11.18% | 0.76x | $5.00 Million |
| Intermedical Care and Lab Hospital Public Company Limited (IMH) | $434.98 Million | -3.82% | 0.13x | $7.10 Million |