MFEC PCL
MFEC Public Company Limited, together with its subsidiaries, provides systems integration, maintenance, IT professional, and cloud computing services in Thailand. It offers DataWise solution, which includes modernized and intelligent data platform, advanced analytics, artificial intelligence, and database health-check package; enterprise agility solution that comprises digital process automation,… Read more
MFEC PCL (MFEC) - Net Assets
Latest net assets as of September 2025: ฿2.57 Billion THB
Based on the latest financial reports, MFEC PCL (MFEC) has net assets worth ฿2.57 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 (฿6.15 Billion) and total liabilities (฿3.58 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 | ฿2.57 Billion |
| % of Total Assets | 41.75% |
| Annual Growth Rate | 9.17% |
| 5-Year Change | 35.81% |
| 10-Year Change | 37.0% |
| Growth Volatility | 21.87 |
MFEC PCL - Net Assets Trend (2003–2024)
This chart illustrates how MFEC 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 MFEC PCL (2003–2024)
The table below shows the annual net assets of MFEC PCL from 2003 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ฿2.62 Billion | +2.63% |
| 2023-12-31 | ฿2.56 Billion | +24.27% |
| 2022-12-31 | ฿2.06 Billion | +2.19% |
| 2021-12-31 | ฿2.01 Billion | +4.20% |
| 2020-12-31 | ฿1.93 Billion | +4.06% |
| 2019-12-31 | ฿1.86 Billion | +7.24% |
| 2018-12-31 | ฿1.73 Billion | -12.85% |
| 2017-12-31 | ฿1.99 Billion | +0.18% |
| 2016-12-31 | ฿1.98 Billion | +3.55% |
| 2015-12-31 | ฿1.92 Billion | -0.95% |
| 2014-12-31 | ฿1.93 Billion | +5.13% |
| 2013-12-31 | ฿1.84 Billion | +6.38% |
| 2012-12-31 | ฿1.73 Billion | +2.44% |
| 2011-12-31 | ฿1.69 Billion | +102.43% |
| 2010-12-31 | ฿833.83 Million | +12.30% |
| 2009-12-31 | ฿742.52 Million | +2.94% |
| 2008-12-31 | ฿721.34 Million | +13.55% |
| 2007-12-31 | ฿635.26 Million | +7.74% |
| 2006-12-31 | ฿589.61 Million | +3.49% |
| 2005-12-31 | ฿569.76 Million | +14.00% |
| 2004-12-31 | ฿499.78 Million | +20.32% |
| 2003-12-31 | ฿415.39 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to MFEC 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 1594.1% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿1.14 Billion | 43.64% |
| Common Stock | ฿441.45 Million | 16.95% |
| Other Comprehensive Income | ฿44.15 Million | 1.70% |
| Other Components | ฿982.27 Million | 37.71% |
| Total Equity | ฿2.60 Billion | 100.00% |
MFEC PCL Competitors by Market Cap
The table below lists competitors of MFEC PCL ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Memscap Regpt
PA:MEMS
|
$31.99 Million |
|
Marimed Inc
OTCQX:MRMD
|
$32.00 Million |
|
Kaplamin Ambalaj Sanayi ve Ticaret AS
IS:KAPLM
|
$32.00 Million |
|
Footway Group AB Series B
ST:FOOT-B
|
$32.01 Million |
|
Digital Mediatama Maxima PT
JK:DMMX
|
$31.99 Million |
|
Unique Optical Industrial Co Ltd
TWO:3441
|
$31.98 Million |
|
Powerlong Real Estate Holdings Limited
F:PW5
|
$31.98 Million |
|
Latécoère S.A.
PA:LAT
|
$31.97 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in MFEC PCL's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 2,535,130,514 to 2,604,688,501, a change of 69,557,987 (2.7%).
- Net income of 272,250,393 contributed positively to equity growth.
- Dividend payments of 176,573,342 reduced retained earnings.
- Other factors decreased equity by 26,119,064.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿272.25 Million | +10.45% |
| Dividends Paid | ฿176.57 Million | -6.78% |
| Other Changes | ฿-26.12 Million | -1.0% |
| Total Change | ฿- | 2.74% |
Book Value vs Market Value Analysis
This analysis compares MFEC 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: 0.97x
- 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 2.42x to 0.97x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2004-12-31 | ฿2.42 | ฿5.85 | x |
| 2005-12-31 | ฿2.64 | ฿5.85 | x |
| 2006-12-31 | ฿2.68 | ฿5.85 | x |
| 2007-12-31 | ฿2.84 | ฿5.85 | x |
| 2008-12-31 | ฿2.87 | ฿5.85 | x |
| 2009-12-31 | ฿2.91 | ฿5.85 | x |
| 2010-12-31 | ฿3.17 | ฿5.85 | x |
| 2011-12-31 | ฿4.47 | ฿5.85 | x |
| 2012-12-31 | ฿3.91 | ฿5.85 | x |
| 2013-12-31 | ฿4.15 | ฿5.85 | x |
| 2014-12-31 | ฿4.35 | ฿5.85 | x |
| 2015-12-31 | ฿4.29 | ฿5.85 | x |
| 2016-12-31 | ฿4.48 | ฿5.85 | x |
| 2017-12-31 | ฿4.47 | ฿5.85 | x |
| 2018-12-31 | ฿3.87 | ฿5.85 | x |
| 2019-12-31 | ฿4.15 | ฿5.85 | x |
| 2020-12-31 | ฿4.31 | ฿5.85 | x |
| 2021-12-31 | ฿4.50 | ฿5.85 | x |
| 2022-12-31 | ฿4.60 | ฿5.85 | x |
| 2023-12-31 | ฿5.74 | ฿5.85 | x |
| 2024-12-31 | ฿6.04 | ฿5.85 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently MFEC 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): 10.45%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.04%
- • Asset Turnover: 0.97x
- • Equity Multiplier: 2.66x
- Recent ROE (10.45%) is below the historical average (13.32%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2003 | 16.92% | 9.59% | 1.18x | 1.49x | ฿28.73 Million |
| 2004 | 27.84% | 9.42% | 1.39x | 2.13x | ฿86.24 Million |
| 2005 | 13.86% | 5.06% | 1.58x | 1.73x | ฿21.39 Million |
| 2006 | 17.18% | 4.18% | 1.85x | 2.22x | ฿41.80 Million |
| 2007 | 20.10% | 5.31% | 1.63x | 2.33x | ฿63.98 Million |
| 2008 | 18.89% | 5.49% | 1.40x | 2.45x | ฿63.83 Million |
| 2009 | 13.97% | 3.79% | 1.34x | 2.74x | ฿29.23 Million |
| 2010 | 8.23% | 2.62% | 1.22x | 2.57x | ฿-14.62 Million |
| 2011 | 12.05% | 4.86% | 1.07x | 2.31x | ฿34.36 Million |
| 2012 | 10.60% | 5.00% | 0.99x | 2.15x | ฿10.27 Million |
| 2013 | 12.70% | 4.91% | 1.50x | 1.73x | ฿49.33 Million |
| 2014 | 14.09% | 5.27% | 1.45x | 1.85x | ฿78.56 Million |
| 2015 | 10.37% | 5.90% | 1.06x | 1.66x | ฿6.96 Million |
| 2016 | 11.22% | 6.89% | 0.97x | 1.68x | ฿24.05 Million |
| 2017 | 7.80% | 5.20% | 0.88x | 1.71x | ฿-43.54 Million |
| 2018 | -9.73% | -4.98% | 1.00x | 1.95x | ฿-336.96 Million |
| 2019 | 12.30% | 6.11% | 1.00x | 2.00x | ฿42.19 Million |
| 2020 | 12.84% | 5.24% | 0.91x | 2.69x | ฿54.15 Million |
| 2021 | 12.92% | 4.97% | 0.91x | 2.84x | ฿58.15 Million |
| 2022 | 11.57% | 4.33% | 0.86x | 3.09x | ฿31.97 Million |
| 2023 | 26.86% | 10.14% | 0.91x | 2.91x | ฿427.54 Million |
| 2024 | 10.45% | 4.04% | 0.97x | 2.66x | ฿11.78 Million |
Industry Comparison
This section compares MFEC PCL's net assets metrics with peer companies in the Information Technology Services industry.
Industry Context
- Industry: Information Technology Services
- Average net assets among peers: $948,000,967
- Average return on equity (ROE) among peers: 16.59%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| MFEC PCL (MFEC) | ฿2.57 Billion | 16.92% | 1.40x | $31.99 Million |
| Advanced Information Technology Public Company Limited (AIT) | $2.93 Billion | 13.48% | 1.20x | $109.65 Million |
| Beryl 8 Plus Public Company Limited (BE8) | $78.06 Million | 30.29% | 2.57x | $10.83 Million |
| Ditto (Thailand) Public Company Limited (DITTO) | $261.38 Million | 21.53% | 1.58x | $133.67 Million |
| DITTO (THAILAND) (DITTO-R) | $2.46 Billion | 13.61% | 0.36x | $174.47 Million |
| G-Able PCL (GABLE) | $2.01 Billion | 8.27% | 1.09x | $21.78 Million |
| I2 Enterprise Public Company Limited (I2) | $250.43 Million | 17.96% | 2.26x | $1.98 Million |
| I&I Group Public Company Limited (IIG) | $-21.04 Million | 0.00% | 0.00x | $3.22 Million |
| Infraset Public Company Limited (INSET) | $839.14 Million | 16.15% | 0.59x | $38.30 Million |
| International Research Corporation Public Company Limited (IRCP) | $489.44 Million | 27.29% | 1.68x | $3.46 Million |
| International Network System PCL (ITNS) | $188.33 Million | 17.30% | 0.40x | $3.47 Million |