NCL International Logistics Public Company Limited (NCL) - Net Assets

Latest as of December 2025: ฿31.74 Million THB ≈ $989.27K USD

Based on the latest financial reports, NCL International Logistics Public Company Limited (NCL) has net assets worth ฿31.74 Million THB (≈ $989.27K USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿594.19 Million ≈ $18.52 Million USD) and total liabilities (฿562.45 Million ≈ $17.53 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 financial resilience of NCL International Logistics Public Compa to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	฿31.74 Million
% of Total Assets	5.34%
Annual Growth Rate	-9.82%
5-Year Change	-92.71%
10-Year Change	-85.87%
Growth Volatility	48.72

NCL International Logistics Public Company Limited - Net Assets Trend (2012–2025)

This chart illustrates how NCL International Logistics Public Company Limited's net assets have evolved over time, based on quarterly financial data. Also explore NCL asset base for the complete picture of this company's asset base.

Annual Net Assets for NCL International Logistics Public Company Limited (2012–2025)

The table below shows the annual net assets of NCL International Logistics Public Company Limited from 2012 to 2025. For live valuation and market cap data, see NCL market cap overview.

Year	Net Assets	Change
2025-12-31	฿31.74 Million ≈ $989.27K	-55.92%
2024-12-31	฿72.01 Million ≈ $2.24 Million	-78.42%
2023-12-31	฿333.76 Million ≈ $10.40 Million	-50.66%
2022-12-31	฿676.50 Million ≈ $21.09 Million	+55.46%
2021-12-31	฿435.17 Million ≈ $13.56 Million	+57.20%
2020-12-31	฿276.83 Million ≈ $8.63 Million	-10.58%
2019-12-31	฿309.58 Million ≈ $9.65 Million	-4.25%
2018-12-31	฿323.30 Million ≈ $10.08 Million	+29.03%
2017-12-31	฿250.57 Million ≈ $7.81 Million	+11.58%
2016-12-31	฿224.57 Million ≈ $7.00 Million	-4.64%
2015-12-31	฿235.50 Million ≈ $7.34 Million	-27.58%
2014-12-31	฿325.21 Million ≈ $10.14 Million	+99.20%
2013-12-31	฿163.25 Million ≈ $5.09 Million	+34.21%
2012-12-31	฿121.64 Million ≈ $3.79 Million	--

Equity Component Analysis

This analysis shows how different components contribute to NCL International Logistics 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 60634065000.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Other Components	฿645.63 Million	2087.82%
Total Equity	฿30.92 Million	100.00%

NCL International Logistics Public Company Limited Competitors by Market Cap

The table below lists competitors of NCL International Logistics Public Company Limited ranked by their market capitalization.

Company	Market Cap
MOVIE GAMES S.A. ZY1 F:2LH	$4.33 Million
The Dixie Group Inc NASDAQ:DXYN	$4.33 Million
Lasa Supergenerics Limited NSE:LASA	$4.33 Million
Celtic plc LSE:CCPC	$4.33 Million
Gungnir Resources Inc V:GUG	$4.33 Million
K9 Gold Corp V:KNC	$4.32 Million
Colipays Reunion SA PA:MLCLP	$4.32 Million
Hydrocarbon Dynamics Ltd AU:HCD	$4.31 Million

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 71,193,238 to 30,923,505, a change of -40,269,733 (-56.6%).
Net loss of 94,942,035 reduced equity.
New share issuances of 53,120,000 increased equity.
Other comprehensive income decreased equity by 13,205,850.
Other factors increased equity by 14,758,152.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	฿-94.94 Million	-307.02%
Share Issuances	฿53.12 Million	+171.78%
Other Comprehensive Income	฿-13.21 Million	-42.7%
Other Changes	฿14.76 Million	+47.72%
Total Change	฿-	-56.56%

Book Value vs Market Value Analysis

This analysis compares NCL International Logistics 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: 4.49x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has increased from 0.73x to 4.49x over the analyzed period, suggesting growing market confidence.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2012-12-31	฿0.27	฿0.20	x
2013-12-31	฿0.50	฿0.20	x
2014-12-31	฿0.96	฿0.20	x
2015-12-31	฿0.56	฿0.20	x
2016-12-31	฿0.54	฿0.20	x
2017-12-31	฿0.49	฿0.20	x
2018-12-31	฿0.62	฿0.20	x
2019-12-31	฿0.63	฿0.20	x
2020-12-31	฿0.56	฿0.20	x
2021-12-31	฿0.91	฿0.20	x
2022-12-31	฿1.25	฿0.20	x
2023-12-31	฿0.63	฿0.20	x
2024-12-31	฿0.13	฿0.20	x
2025-12-31	฿0.04	฿0.20	x

Capital Efficiency Dashboard

This dashboard shows how efficiently NCL International Logistics 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): -307.02%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: -11.04%
• Asset Turnover: 1.45x
• Equity Multiplier: 19.21x
Recent ROE (-307.02%) is below the historical average (-54.83%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2012	4.21%	0.42%	2.01x	4.96x	฿-4.22 Million
2013	25.49%	4.45%	2.04x	2.82x	฿25.29 Million
2014	6.01%	2.13%	1.71x	1.64x	฿-12.98 Million
2015	-34.23%	-7.50%	1.81x	2.53x	฿-104.15 Million
2016	-3.61%	-0.83%	1.81x	2.41x	฿-30.81 Million
2017	-3.49%	-0.78%	1.44x	3.12x	฿-29.38 Million
2018	1.15%	0.26%	1.63x	2.69x	฿-24.20 Million
2019	3.89%	0.87%	1.56x	2.85x	฿-17.41 Million
2020	-9.51%	-2.74%	1.17x	2.97x	฿-49.71 Million
2021	26.85%	5.87%	1.80x	2.54x	฿69.72 Million
2022	-0.90%	-0.31%	1.40x	2.07x	฿-71.33 Million
2023	-98.85%	-47.76%	0.71x	2.91x	฿-361.80 Million
2024	-377.59%	-39.21%	0.94x	10.29x	฿-275.94 Million
2025	-307.02%	-11.04%	1.45x	19.21x	฿-98.03 Million

Industry Comparison

This section compares NCL International Logistics Public Company Limited's net assets metrics with peer companies in the Integrated Freight & Logistics industry.

Industry Context

Industry: Integrated Freight & Logistics
Average net assets among peers: $988,637,105
Average return on equity (ROE) among peers: 10.29%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
NCL International Logistics Public Company Limited (NCL)	฿31.74 Million	4.21%	17.72x	$4.33 Million
Triple i Logistics Public Company Limited (III)	$1.11 Billion	11.63%	0.40x	$94.86 Million
WICE Logistics PCL (WICE)	$862.28 Million	8.95%	0.24x	$47.15 Million

About NCL International Logistics Public Company Limited

BK:NCL Thailand Integrated Freight & Logistics

Market Cap

$4.33 Million

฿138.85 Million THB

Market Cap Rank

#28633 Global

#621 in Thailand

Share Price

฿0.20

Change (1 day)

+5.26%

52-Week Range

฿0.19 - ฿0.39

All Time High

฿5.25