S.A.F. Special Steel PCL
S.A.F. Special Steel Public Company Limited imports and distributes steel products in Thailand. The company offers hot work tools, cold work tools, plastic mold, and high-speed steel products; pre-hardened, carburizing, and general engineering machinery, and wear resistant steel plate products; vacuum hardening services; finishing industrial tooling and equipment parts; and steel cutting band saw… Read more
S.A.F. Special Steel PCL (SAF) - Net Assets
Latest net assets as of December 2025: ฿266.96 Million THB
Based on the latest financial reports, S.A.F. Special Steel PCL (SAF) has net assets worth ฿266.96 Million THB as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿384.89 Million) and total liabilities (฿117.93 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 | ฿266.96 Million |
| % of Total Assets | 69.36% |
| Annual Growth Rate | 24.91% |
| 5-Year Change | 84.16% |
| 10-Year Change | N/A |
| Growth Volatility | 60.1 |
S.A.F. Special Steel PCL - Net Assets Trend (2018–2025)
This chart illustrates how S.A.F. Special Steel 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 S.A.F. Special Steel PCL (2018–2025)
The table below shows the annual net assets of S.A.F. Special Steel PCL from 2018 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ฿266.96 Million | -2.29% |
| 2024-12-31 | ฿273.21 Million | -1.81% |
| 2023-12-31 | ฿278.25 Million | +106.26% |
| 2022-12-31 | ฿134.90 Million | -6.94% |
| 2021-12-31 | ฿144.96 Million | +2.71% |
| 2020-12-31 | ฿141.13 Million | -0.02% |
| 2019-12-31 | ฿141.15 Million | +150.93% |
| 2018-12-31 | ฿56.25 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to S.A.F. Special Steel 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 decreased by 101.3% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | ฿267.56 Million | 100.22% |
| Total Equity | ฿266.96 Million | 100.00% |
S.A.F. Special Steel PCL Competitors by Market Cap
The table below lists competitors of S.A.F. Special Steel PCL ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
GSD Denizcilik Gayrimenkul Insaat Sanayi ve Ticaret AS
IS:GSDDE
|
$760.13K |
|
Mitra Energi Persada Tbk PT
JK:KOPI
|
$760.20K |
|
CYCLIQ Group Ltd
AU:CYQ
|
$760.37K |
|
HYPOPORT N - Dusseldorf Stock Exchang
DU:HYQ
|
$760.39K |
|
Lavoro Limited Class A Ordinary Shares
NASDAQ:LVRO
|
$759.35K |
|
NATL FUEL GAS CO (NFG.SG)
STU:NFG
|
$759.11K |
|
PRINCIPAL FINANCIAL
BE:PG4
|
$759.00K |
|
LoopUp Group plc
PINK:LUPGF
|
$758.82K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in S.A.F. Special Steel PCL's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 273,208,383 to 266,960,477, a change of -6,247,906 (-2.3%).
- Net loss of 3,046,680 reduced equity.
- Dividend payments of 2,997,652 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿-3.05 Million | -1.14% |
| Dividends Paid | ฿3.00 Million | -1.12% |
| Other Changes | ฿-203.57K | -0.08% |
| Total Change | ฿- | -2.29% |
Book Value vs Market Value Analysis
This analysis compares S.A.F. Special Steel 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: 0.36x
- 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 1.71x 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 |
|---|---|---|---|
| 2018-12-31 | ฿0.19 | ฿0.32 | x |
| 2019-12-31 | ฿0.47 | ฿0.32 | x |
| 2020-12-31 | ฿0.47 | ฿0.32 | x |
| 2021-12-31 | ฿0.48 | ฿0.32 | x |
| 2022-12-31 | ฿0.45 | ฿0.32 | x |
| 2023-12-31 | ฿0.93 | ฿0.32 | x |
| 2024-12-31 | ฿0.91 | ฿0.32 | x |
| 2025-12-31 | ฿0.89 | ฿0.32 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently S.A.F. Special Steel 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): -1.14%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -1.83%
- • Asset Turnover: 0.43x
- • Equity Multiplier: 1.44x
- Recent ROE (-1.14%) is below the historical average (4.24%), 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 | 7.80% | 2.01% | 0.93x | 4.17x | ฿-1.24 Million |
| 2019 | 7.80% | 4.50% | 0.73x | 2.38x | ฿-3.11 Million |
| 2020 | 1.73% | 1.36% | 0.59x | 2.15x | ฿-11.66 Million |
| 2021 | 10.71% | 7.26% | 0.72x | 2.05x | ฿1.03 Million |
| 2022 | 7.41% | 4.57% | 0.71x | 2.30x | ฿-3.49 Million |
| 2023 | 0.46% | 0.75% | 0.42x | 1.45x | ฿-26.56 Million |
| 2024 | -0.88% | -1.49% | 0.40x | 1.47x | ฿-29.72 Million |
| 2025 | -1.14% | -1.83% | 0.43x | 1.44x | ฿-29.74 Million |
Industry Comparison
This section compares S.A.F. Special Steel PCL's net assets metrics with peer companies in the Steel industry.
Industry Context
- Industry: Steel
- Average net assets among peers: $3,659,793,554
- Average return on equity (ROE) among peers: 2.43%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| S.A.F. Special Steel PCL (SAF) | ฿266.96 Million | 7.80% | 0.44x | $759.58K |
| 2S Metal Public Company Limited (2S) | $1.31 Billion | 8.03% | 0.41x | $15.33 Million |
| Asia Metal Public Company Limited (AMC) | $1.58 Billion | 7.16% | 1.61x | $6.99 Million |
| Bangsaphan Barmill Public Company Limited (BSBM) | $1.82 Billion | -2.65% | 0.07x | $5.50 Million |
| Capital Engineering Network Public Company Limited (CEN) | $2.42 Billion | -0.89% | 0.19x | $5.45 Million |
| Chow Steel Industries Public Company Limited (CHOW) | $520.72 Million | 0.00% | 4.33x | $8.20 Million |
| CSP Steel Center Public Company Limited (CSP) | $664.19 Million | 10.03% | 1.87x | $950.75K |
| G J Steel Public Company Limited (GJS) | $11.94 Billion | -0.06% | 0.49x | $33.84 Million |
| POSCO-Thainox Public Company Limited (INOX) | $10.76 Billion | -5.72% | 0.42x | $11.41 Million |
| Lohakit Metal Public Company Limited (LHK) | $1.64 Billion | 5.32% | 0.30x | $15.23 Million |
| M.C.S. Steel Public Company Limited (MCS) | $3.94 Billion | 3.04% | 0.72x | $112.11 Million |