nForce Secure Public Company Limited
nForce Secure Public Company Limited engages in the sale of computer hardware and software, all related equipment, and network communication equipment and software in Thailand. The company offers application, cloud, email, endpoint, network, and PDPA and data security software products; identity management, network performance and monitoring, network operating platform solutions; and other produc… Read more
nForce Secure Public Company Limited (SECURE) - Net Assets
Latest net assets as of September 2025: ฿739.21 Million THB
Based on the latest financial reports, nForce Secure Public Company Limited (SECURE) has net assets worth ฿739.21 Million THB as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿1.00 Billion) and total liabilities (฿263.63 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 | ฿739.21 Million |
| % of Total Assets | 73.71% |
| Annual Growth Rate | 32.66% |
| 5-Year Change | 536.03% |
| 10-Year Change | N/A |
| Growth Volatility | 130.93 |
nForce Secure Public Company Limited - Net Assets Trend (2016–2024)
This chart illustrates how nForce Secure Public Company Limited's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for nForce Secure Public Company Limited (2016–2024)
The table below shows the annual net assets of nForce Secure Public Company Limited from 2016 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ฿722.94 Million | +7.47% |
| 2023-12-31 | ฿672.69 Million | +9.91% |
| 2022-12-31 | ฿612.04 Million | +6.73% |
| 2021-12-31 | ฿573.47 Million | +404.53% |
| 2020-12-31 | ฿113.66 Million | +23.27% |
| 2019-12-31 | ฿92.21 Million | -8.21% |
| 2018-12-31 | ฿100.46 Million | -0.42% |
| 2017-12-31 | ฿100.89 Million | +33.88% |
| 2016-12-31 | ฿75.36 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to nForce Secure 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 333.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿183.77 Million | 25.42% |
| Other Components | ฿539.17 Million | 74.58% |
| Total Equity | ฿722.94 Million | 100.00% |
nForce Secure Public Company Limited Competitors by Market Cap
The table below lists competitors of nForce Secure Public Company Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Cauldron Energy Ltd
AU:CXU
|
$12.19 Million |
|
Kip Mcgrath Education Centres Ltd
AU:KME
|
$12.19 Million |
|
Hydrogene De France SA
PA:HDF
|
$12.19 Million |
|
Kino Indonesia Tbk PT
JK:KINO
|
$12.19 Million |
|
Betolar Oyj
HE:BETOLAR
|
$12.19 Million |
|
TRP_AESTHETIC CONNECT
BK:TRP
|
$12.17 Million |
|
Amanah Leasing Public Company Limited
BK:AMANAH
|
$12.17 Million |
|
Soktas Tekstil Sanayi ve Ticaret AS
IS:SKTAS
|
$12.16 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in nForce Secure Public Company Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 672,693,210 to 722,942,667, a change of 50,249,457 (7.5%).
- Net income of 115,600,536 contributed positively to equity growth.
- Dividend payments of 66,780,036 reduced retained earnings.
- Other comprehensive income decreased equity by 20,372,166.
- Other factors increased equity by 21,801,123.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿115.60 Million | +15.99% |
| Dividends Paid | ฿66.78 Million | -9.24% |
| Other Comprehensive Income | ฿-20.37 Million | -2.82% |
| Other Changes | ฿21.80 Million | +3.02% |
| Total Change | ฿- | 7.47% |
Book Value vs Market Value Analysis
This analysis compares nForce Secure 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: 1.66x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 15.95x to 1.66x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-12-31 | ฿0.73 | ฿11.70 | x |
| 2017-12-31 | ฿0.98 | ฿11.70 | x |
| 2018-12-31 | ฿0.98 | ฿11.70 | x |
| 2019-12-31 | ฿0.90 | ฿11.70 | x |
| 2020-12-31 | ฿1.11 | ฿11.70 | x |
| 2021-12-31 | ฿6.42 | ฿11.70 | x |
| 2022-12-31 | ฿5.94 | ฿11.70 | x |
| 2023-12-31 | ฿6.55 | ฿11.70 | x |
| 2024-12-31 | ฿7.04 | ฿11.70 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently nForce Secure 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): 15.99%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 9.34%
- • Asset Turnover: 1.22x
- • Equity Multiplier: 1.41x
- Recent ROE (15.99%) is below the historical average (32.32%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 42.65% | 6.36% | 2.26x | 2.97x | ฿24.60 Million |
| 2017 | 44.42% | 9.66% | 2.42x | 1.90x | ฿34.72 Million |
| 2018 | 69.33% | 12.21% | 2.70x | 2.10x | ฿59.61 Million |
| 2019 | 64.46% | 9.25% | 2.11x | 3.31x | ฿50.22 Million |
| 2020 | 20.72% | 3.71% | 2.08x | 2.68x | ฿12.18 Million |
| 2021 | 10.66% | 7.42% | 1.12x | 1.28x | ฿3.77 Million |
| 2022 | 9.00% | 6.16% | 1.10x | 1.33x | ฿-6.14 Million |
| 2023 | 13.64% | 8.61% | 1.17x | 1.35x | ฿24.50 Million |
| 2024 | 15.99% | 9.34% | 1.22x | 1.41x | ฿43.31 Million |
Industry Comparison
This section compares nForce Secure Public Company Limited's net assets metrics with peer companies in the Software - Infrastructure industry.
Industry Context
- Industry: Software - Infrastructure
- Average net assets among peers: $214,513,447
- Average return on equity (ROE) among peers: 14.03%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| nForce Secure Public Company Limited (SECURE) | ฿739.21 Million | 42.65% | 0.36x | $12.19 Million |
| Readyplanet PCL (READY) | $214.51 Million | 14.03% | 0.77x | $3.04 Million |