Maybank Securities (Thailand) PCL
Maybank Securities (Thailand) Public Company Limited provides securities trading and investment advice services to individual and institutional customers in Thailand. It operates through two segments, Securities Business and Investment Banking. The company also offers investment products, including stocks, securities borrowing and lending, fixed income, structured notes, depositary receipts (DR) … Read more
Maybank Securities (Thailand) PCL (MST) - Net Assets
Latest net assets as of September 2025: ฿5.03 Billion THB
Based on the latest financial reports, Maybank Securities (Thailand) PCL (MST) has net assets worth ฿5.03 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 (฿13.73 Billion) and total liabilities (฿8.70 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 | ฿5.03 Billion |
| % of Total Assets | 36.65% |
| Annual Growth Rate | 1.1% |
| 5-Year Change | 10.13% |
| 10-Year Change | 5.16% |
| Growth Volatility | 5.54 |
Maybank Securities (Thailand) PCL - Net Assets Trend (2004–2024)
This chart illustrates how Maybank Securities (Thailand) 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 Maybank Securities (Thailand) PCL (2004–2024)
The table below shows the annual net assets of Maybank Securities (Thailand) PCL from 2004 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ฿5.07 Billion | +4.37% |
| 2023-12-31 | ฿4.86 Billion | -3.29% |
| 2022-12-31 | ฿5.02 Billion | +4.30% |
| 2021-12-31 | ฿4.81 Billion | +4.61% |
| 2020-12-31 | ฿4.60 Billion | +7.58% |
| 2019-12-31 | ฿4.28 Billion | -6.22% |
| 2018-12-31 | ฿4.56 Billion | -2.02% |
| 2017-12-31 | ฿4.66 Billion | -5.28% |
| 2016-12-31 | ฿4.91 Billion | +1.98% |
| 2015-12-31 | ฿4.82 Billion | -1.34% |
| 2014-12-31 | ฿4.88 Billion | -7.42% |
| 2013-12-31 | ฿5.28 Billion | +16.80% |
| 2012-12-31 | ฿4.52 Billion | +2.19% |
| 2011-12-31 | ฿4.42 Billion | -4.67% |
| 2010-12-31 | ฿4.64 Billion | +2.38% |
| 2009-12-31 | ฿4.53 Billion | +7.47% |
| 2008-12-31 | ฿4.21 Billion | +0.99% |
| 2007-12-31 | ฿4.17 Billion | +3.97% |
| 2006-12-31 | ฿4.01 Billion | -0.84% |
| 2005-12-31 | ฿4.05 Billion | -0.51% |
| 2004-12-31 | ฿4.07 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Maybank Securities (Thailand) 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 58.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿1.38 Billion | 27.27% |
| Other Components | ฿3.69 Billion | 72.73% |
| Total Equity | ฿5.07 Billion | 100.00% |
Maybank Securities (Thailand) PCL Competitors by Market Cap
The table below lists competitors of Maybank Securities (Thailand) PCL ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Quality & Reliability A.B.E.E
AT:QUAL
|
$18.75 Million |
|
Issuer Direct Corp
NYSE MKT:ISDR
|
$18.75 Million |
|
World Houseware (Holdings) Limited
PINK:WHWRF
|
$18.75 Million |
|
Above Food Ingredients Inc. Common Stock
NASDAQ:ABVE
|
$18.76 Million |
|
Train Alliance Sweden AB Series B
ST:TRAIN-B
|
$18.74 Million |
|
TGAUF
PINK:TGAUF
|
$18.74 Million |
|
APPIA RARE EARTH+U O.N.
F:A0I0
|
$18.74 Million |
|
ORTOMA AB B
F:82Y
|
$18.73 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Maybank Securities (Thailand) PCL's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 4,855,572,371 to 5,067,776,480, a change of 212,204,109 (4.4%).
- Net income of 462,132,701 contributed positively to equity growth.
- Dividend payments of 279,699,105 reduced retained earnings.
- Other comprehensive income decreased equity by 308,078,114.
- Other factors increased equity by 337,848,627.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿462.13 Million | +9.12% |
| Dividends Paid | ฿279.70 Million | -5.52% |
| Other Comprehensive Income | ฿-308.08 Million | -6.08% |
| Other Changes | ฿337.85 Million | +6.67% |
| Total Change | ฿- | 4.37% |
Book Value vs Market Value Analysis
This analysis compares Maybank Securities (Thailand) 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: 0.78x
- 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 0.93x to 0.78x 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 | ฿7.45 | ฿6.90 | x |
| 2005-12-31 | ฿7.42 | ฿6.90 | x |
| 2006-12-31 | ฿7.16 | ฿6.90 | x |
| 2007-12-31 | ฿7.38 | ฿6.90 | x |
| 2008-12-31 | ฿7.45 | ฿6.90 | x |
| 2009-12-31 | ฿7.96 | ฿6.90 | x |
| 2010-12-31 | ฿8.15 | ฿6.90 | x |
| 2011-12-31 | ฿7.77 | ฿6.90 | x |
| 2012-12-31 | ฿7.92 | ฿6.90 | x |
| 2013-12-31 | ฿9.25 | ฿6.90 | x |
| 2014-12-31 | ฿8.54 | ฿6.90 | x |
| 2015-12-31 | ฿8.46 | ฿6.90 | x |
| 2016-12-31 | ฿8.62 | ฿6.90 | x |
| 2017-12-31 | ฿8.16 | ฿6.90 | x |
| 2018-12-31 | ฿8.04 | ฿6.90 | x |
| 2019-12-31 | ฿7.49 | ฿6.90 | x |
| 2020-12-31 | ฿8.06 | ฿6.90 | x |
| 2021-12-31 | ฿8.43 | ฿6.90 | x |
| 2022-12-31 | ฿8.80 | ฿6.90 | x |
| 2023-12-31 | ฿8.52 | ฿6.90 | x |
| 2024-12-31 | ฿8.88 | ฿6.90 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Maybank Securities (Thailand) 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): 9.12%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 20.39%
- • Asset Turnover: 0.12x
- • Equity Multiplier: 3.84x
- Recent ROE (9.12%) is below the historical average (15.47%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2004 | 25.63% | 2624.51% | 0.01x | 1.63x | ฿635.83 Million |
| 2005 | 17.66% | 743.66% | 0.02x | 1.56x | ฿310.22 Million |
| 2006 | 13.28% | 312.22% | 0.03x | 1.37x | ฿131.45 Million |
| 2007 | 13.21% | 396.74% | 0.02x | 1.63x | ฿134.11 Million |
| 2008 | 12.69% | 27.77% | 0.36x | 1.27x | ฿113.38 Million |
| 2009 | 15.79% | 28.24% | 0.36x | 1.57x | ฿262.29 Million |
| 2010 | 17.37% | 29.36% | 0.30x | 1.95x | ฿341.92 Million |
| 2011 | 14.80% | 27.32% | 0.33x | 1.62x | ฿212.17 Million |
| 2012 | 16.35% | 28.38% | 0.19x | 3.09x | ฿286.70 Million |
| 2013 | 27.41% | 39.18% | 0.25x | 2.78x | ฿918.26 Million |
| 2014 | 25.88% | 37.09% | 0.17x | 4.22x | ฿775.80 Million |
| 2015 | 21.15% | 36.48% | 0.16x | 3.73x | ฿537.34 Million |
| 2016 | 19.83% | 36.55% | 0.16x | 3.42x | ฿483.05 Million |
| 2017 | 13.72% | 27.14% | 0.12x | 4.07x | ฿173.13 Million |
| 2018 | 8.58% | 19.54% | 0.12x | 3.59x | ฿-64.82 Million |
| 2019 | 5.96% | 18.58% | 0.08x | 3.77x | ฿-173.00 Million |
| 2020 | 10.53% | 21.33% | 0.12x | 4.15x | ฿24.30 Million |
| 2021 | 15.81% | 23.15% | 0.12x | 5.68x | ฿279.43 Million |
| 2022 | 12.51% | 24.76% | 0.10x | 4.83x | ฿126.18 Million |
| 2023 | 7.52% | 16.46% | 0.11x | 4.12x | ฿-120.65 Million |
| 2024 | 9.12% | 20.39% | 0.12x | 3.84x | ฿-44.64 Million |
Industry Comparison
This section compares Maybank Securities (Thailand) PCL's net assets metrics with peer companies in the Capital Markets industry.
Industry Context
- Industry: Capital Markets
- Average net assets among peers: $2,513,369,409
- Average return on equity (ROE) among peers: 6.82%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Maybank Securities (Thailand) PCL (MST) | ฿5.03 Billion | 25.63% | 1.73x | $18.74 Million |
| AIRA Capital Public Company Limited (AIRA) | $1.11 Billion | 8.11% | 3.78x | $60.05 Million |
| Asia Plus Group Holdings PCL (ASP) | $4.44 Billion | 24.06% | 0.73x | $93.67 Million |
| Beyond Securities PCL (BYD) | $927.92 Million | -4.32% | 0.24x | $46.15 Million |
| Country Group Holdings Public Company Limited (CGH) | $3.38 Billion | 12.43% | 0.41x | $29.38 Million |
| Globlex Holding Management Public Company Limited (GBX) | $1.44 Billion | 2.99% | 1.04x | $8.78 Million |
| KGI Securities (Thailand) Public Company Limited (KGI) | $5.56 Billion | 1.15% | 0.34x | $160.61 Million |
| Trinity Watthana Public Company Limited (TNITY) | $1.60 Billion | 8.17% | 2.16x | $9.36 Million |
| UOB Kay Hian Securities (Thailand) Public Company Limited (UOBKH) | $1.83 Billion | 6.24% | 0.23x | $8.84 Million |
| XSpring Capital Public Company Limited (XPG) | $2.34 Billion | 2.55% | 0.50x | $108.52 Million |