Noble Development Public Company Limited (NOBLE) - Net Assets

Latest as of March 2026: ฿6.80 Billion THB ≈ $211.90 Million USD

Based on the latest financial reports, Noble Development Public Company Limited (NOBLE) has net assets worth ฿6.80 Billion THB (≈ $211.90 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿25.34 Billion ≈ $789.70 Million USD) and total liabilities (฿18.54 Billion ≈ $577.80 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 Noble Development Public Company Limited (NOBLE) tangible equity ratio to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	฿6.80 Billion
% of Total Assets	26.83%
Annual Growth Rate	15.08%
5-Year Change	19.76%
10-Year Change	52.04%
Growth Volatility	79.51

Noble Development Public Company Limited - Net Assets Trend (2000–2025)

This chart illustrates how Noble Development Public Company Limited's net assets have evolved over time, based on quarterly financial data. See NOBLE defensive asset coverage days to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Noble Development Public Company Limited (2000–2025)

The table below shows the annual net assets of Noble Development Public Company Limited from 2000 to 2025. For live valuation and market cap data, see NOBLE company net worth.

Year	Net Assets	Change
2025-12-31	฿6.74 Billion ≈ $210.07 Million	+6.77%
2024-12-31	฿6.31 Billion ≈ $196.76 Million	-2.22%
2023-12-31	฿6.46 Billion ≈ $201.22 Million	+8.64%
2022-12-31	฿5.94 Billion ≈ $185.21 Million	+5.59%
2021-12-31	฿5.63 Billion ≈ $175.41 Million	-4.02%
2020-12-31	฿5.86 Billion ≈ $182.76 Million	+7.01%
2019-12-31	฿5.48 Billion ≈ $170.79 Million	-31.06%
2018-12-31	฿7.95 Billion ≈ $247.75 Million	+22.73%
2017-12-31	฿6.48 Billion ≈ $201.87 Million	+46.10%
2016-12-31	฿4.43 Billion ≈ $138.17 Million	+17.95%
2015-12-31	฿3.76 Billion ≈ $117.14 Million	-12.02%
2014-12-31	฿4.27 Billion ≈ $133.14 Million	+0.62%
2013-12-31	฿4.25 Billion ≈ $132.32 Million	+4.60%
2012-12-31	฿4.06 Billion ≈ $126.50 Million	+4.85%
2011-12-31	฿3.87 Billion ≈ $120.65 Million	+3.76%
2010-12-31	฿3.73 Billion ≈ $116.28 Million	-3.10%
2009-12-31	฿3.85 Billion ≈ $120.00 Million	-35.02%
2008-12-31	฿5.92 Billion ≈ $184.66 Million	+83.76%
2007-12-31	฿3.22 Billion ≈ $100.49 Million	+4.89%
2006-12-31	฿3.07 Billion ≈ $95.80 Million	+6.40%
2005-12-31	฿2.89 Billion ≈ $90.04 Million	+14.38%
2004-12-31	฿2.53 Billion ≈ $78.72 Million	+6.00%
2003-12-31	฿2.38 Billion ≈ $74.26 Million	+39.84%
2002-12-31	฿1.70 Billion ≈ $53.11 Million	+395.03%
2001-12-31	฿344.18 Million ≈ $10.73 Million	+71.09%
2000-12-31	฿201.17 Million ≈ $6.27 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Noble Development 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 grown by 521114991800.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	฿5.21 Billion	77.32%
Common Stock	฿1.37 Billion	20.32%
Other Comprehensive Income	฿89.70 Million	1.33%
Other Components	฿69.18 Million	1.03%
Total Equity	฿6.74 Billion	100.00%

Noble Development Public Company Limited Competitors by Market Cap

The table below lists competitors of Noble Development Public Company Limited ranked by their market capitalization.

Company	Market Cap
Shang Gong Group Co Ltd B SHG:900924	$75.13 Million
SMJ International Holdings Inc. NYSE MKT:SMJF	$75.14 Million
Woorim Machinery Co. Ltd KQ:101170	$75.15 Million
Adrad Holdings Ltd AU:AHL	$75.22 Million
Hauman Technologies TWO:6218	$75.11 Million
Red Robin Gourmet Burgers Inc NASDAQ:RRGB	$75.09 Million
Prime Electronics & Satellitics Inc TW:6152	$75.04 Million
Forum Markets, Incorporated NASDAQ:FRMM	$75.04 Million

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 6,293,745,701 to 6,739,435,988, a change of 445,690,287 (7.1%).
Net income of 593,142,304 contributed positively to equity growth.
Dividend payments of 142,416,797 reduced retained earnings.
Other comprehensive income decreased equity by 81,479,747.
Other factors increased equity by 76,444,527.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	฿593.14 Million	+8.8%
Dividends Paid	฿142.42 Million	-2.11%
Other Comprehensive Income	฿-81.48 Million	-1.21%
Other Changes	฿76.44 Million	+1.13%
Total Change	฿-	7.08%

Book Value vs Market Value Analysis

This analysis compares Noble Development 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: 0.36x
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 1.08x to 0.36x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2002-12-31	฿1.63	฿1.76	x
2003-12-31	฿1.74	฿1.76	x
2004-12-31	฿1.84	฿1.76	x
2005-12-31	฿2.11	฿1.76	x
2006-12-31	฿2.24	฿1.76	x
2007-12-31	฿2.36	฿1.76	x
2008-12-31	฿2.56	฿1.76	x
2009-12-31	฿2.81	฿1.76	x
2010-12-31	฿2.72	฿1.76	x
2011-12-31	฿2.83	฿1.76	x
2012-12-31	฿2.96	฿1.76	x
2013-12-31	฿3.10	฿1.76	x
2014-12-31	฿3.12	฿1.76	x
2015-12-31	฿2.74	฿1.76	x
2016-12-31	฿3.24	฿1.76	x
2017-12-31	฿4.73	฿1.76	x
2018-12-31	฿5.80	฿1.76	x
2019-12-31	฿4.00	฿1.76	x
2020-12-31	฿4.28	฿1.76	x
2021-12-31	฿4.11	฿1.76	x
2022-12-31	฿4.34	฿1.76	x
2023-12-31	฿4.71	฿1.76	x
2024-12-31	฿4.60	฿1.76	x
2025-12-31	฿4.92	฿1.76	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Noble Development 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): 8.80%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 8.56%
• Asset Turnover: 0.29x
• Equity Multiplier: 3.58x
Recent ROE (8.80%) is below the historical average (14.68%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2000	7.37%	8.96%	0.25x	3.33x	฿-5.27 Million
2002	15.56%	22.64%	0.42x	1.63x	฿94.81 Million
2003	31.36%	23.58%	0.69x	1.92x	฿508.94 Million
2004	13.25%	18.41%	0.34x	2.09x	฿82.05 Million
2005	15.77%	18.05%	0.47x	1.85x	฿166.93 Million
2006	9.82%	14.02%	0.39x	1.82x	฿-5.56 Million
2007	7.64%	10.51%	0.38x	1.91x	฿-76.23 Million
2008	9.96%	14.83%	0.31x	2.14x	฿-1.29 Million
2009	12.06%	16.55%	0.33x	2.24x	฿79.26 Million
2010	26.76%	19.56%	0.47x	2.91x	฿625.21 Million
2011	8.93%	11.88%	0.23x	3.26x	฿-41.44 Million
2012	8.00%	12.68%	0.17x	3.62x	฿-81.21 Million
2013	7.61%	10.47%	0.18x	4.06x	฿-101.43 Million
2014	3.82%	7.17%	0.11x	4.63x	฿-263.86 Million
2015	-12.45%	-125.52%	0.02x	6.11x	฿-843.43 Million
2016	15.39%	15.15%	0.19x	5.25x	฿238.96 Million
2017	31.56%	21.12%	0.43x	3.47x	฿1.40 Billion
2018	12.42%	19.43%	0.20x	3.27x	฿192.19 Million
2019	56.06%	20.59%	0.69x	3.95x	฿2.52 Billion
2020	32.04%	17.52%	0.56x	3.27x	฿1.29 Billion
2021	16.56%	13.65%	0.34x	3.60x	฿369.10 Million
2022	7.66%	5.54%	0.37x	3.79x	฿-139.18 Million
2023	14.11%	10.06%	0.34x	4.07x	฿265.35 Million
2024	6.86%	3.93%	0.40x	4.33x	฿-197.82 Million
2025	8.80%	8.56%	0.29x	3.58x	฿-80.80 Million

Industry Comparison

This section compares Noble Development Public Company Limited's net assets metrics with peer companies in the Real Estate - Development industry.

Industry Context

Industry: Real Estate - Development
Average net assets among peers: $7,619,267,832
Average return on equity (ROE) among peers: 6.72%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Noble Development Public Company Limited (NOBLE)	฿6.80 Billion	7.37%	2.73x	$75.12 Million
Areeya Property Public Company Limited (A)	$3.70 Billion	0.76%	0.55x	$147.84 Million
Amata Corporation Public Company Limited (AMATA)	$3.63 Billion	25.54%	0.83x	$949.88 Million
Amata Corporation Public Company Limited (AMATA-R)	$25.73 Billion	7.33%	1.24x	$605.77 Million
Ananda Development Public Company Limited (ANAN)	$11.73 Billion	2.85%	1.45x	$41.55 Million
AP (Thailand) Public Company Limited (AP)	$17.65 Billion	14.86%	1.05x	$720.70 Million
Baan Rock Garden Public Company Limited (BROCK)	$1.25 Billion	2.74%	0.04x	$38.98 Million
Country Group Development Public Company Limited (CGD)	$4.64 Billion	-8.76%	4.80x	$25.76 Million
Chewathai Public Company Limited (CHEWA)	$1.90 Billion	3.68%	2.55x	$6.76 Million
Charn Issara Development Public Company Limited (CI)	$1.23 Billion	13.94%	1.86x	$11.97 Million
Eastern Star Real Estate Public Company Limited (ESTAR)	$4.73 Billion	4.28%	0.23x	$34.44 Million

About Noble Development Public Company Limited

BK:NOBLE Thailand Real Estate - Development

Market Cap

$75.12 Million

฿2.41 Billion THB

Market Cap Rank

#20380 Global

#314 in Thailand

Share Price

฿1.76

Change (1 day)

-0.56%

52-Week Range

฿1.64 - ฿2.68

All Time High

฿6.66