Smart Concrete Public Company Limited (SMART) - Net Assets
Based on the latest financial reports, Smart Concrete Public Company Limited (SMART) has net assets worth ฿634.54 Million THB (≈ $19.78 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿730.28 Million ≈ $22.76 Million USD) and total liabilities (฿95.74 Million ≈ $2.98 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 how resilient are Smart Concrete Public Company Limited's assets to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ฿634.54 Million |
| % of Total Assets | 86.89% |
| Annual Growth Rate | 4.06% |
| 5-Year Change | 28.79% |
| 10-Year Change | 13.66% |
| Growth Volatility | 13.88 |
Smart Concrete Public Company Limited - Net Assets Trend (2013–2024)
This chart illustrates how Smart Concrete Public Company Limited's net assets have evolved over time, based on quarterly financial data. Also explore Smart Concrete Public Company Limited (SMART) total assets for the complete picture of this company's asset base.
Annual Net Assets for Smart Concrete Public Company Limited (2013–2024)
The table below shows the annual net assets of Smart Concrete Public Company Limited from 2013 to 2024. For live valuation and market cap data, see market value of Smart Concrete Public Company Limited.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ฿661.96 Million ≈ $20.63 Million |
-1.46% |
| 2023-12-31 | ฿671.77 Million ≈ $20.94 Million |
+11.05% |
| 2022-12-31 | ฿604.91 Million ≈ $18.85 Million |
-0.42% |
| 2021-12-31 | ฿607.47 Million ≈ $18.93 Million |
+18.19% |
| 2020-12-31 | ฿513.99 Million ≈ $16.02 Million |
+4.39% |
| 2019-12-31 | ฿492.36 Million ≈ $15.35 Million |
+9.57% |
| 2018-12-31 | ฿449.36 Million ≈ $14.01 Million |
-4.81% |
| 2017-12-31 | ฿472.05 Million ≈ $14.71 Million |
-13.48% |
| 2016-12-31 | ฿545.58 Million ≈ $17.01 Million |
-6.32% |
| 2015-12-31 | ฿582.41 Million ≈ $18.15 Million |
-2.33% |
| 2014-12-31 | ฿596.29 Million ≈ $18.59 Million |
+39.61% |
| 2013-12-31 | ฿427.10 Million ≈ $13.31 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Smart Concrete 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 175.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿103.39 Million | 15.62% |
| Common Stock | ฿520.78 Million | 78.67% |
| Other Comprehensive Income | ฿17.80 Million | 2.69% |
| Other Components | ฿19.98 Million | 3.02% |
| Total Equity | ฿661.96 Million | 100.00% |
Smart Concrete Public Company Limited Competitors by Market Cap
The table below lists competitors of Smart Concrete Public Company Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
N Citron Inc
KQ:101400
|
$18.18 Million |
|
Eureka Design Public Company Limited
BK:UREKA
|
$18.19 Million |
|
Allarity Therapeutics Inc
NASDAQ:ALLR
|
$18.19 Million |
|
Tecnisa S.A
SA:TCSA3
|
$18.20 Million |
|
AlzeCure Pharma
ST:ALZCUR
|
$18.18 Million |
|
Koonenberry Gold Ltd
AU:KNB
|
$18.17 Million |
|
Kritika Wires Limited
NSE:KRITIKA
|
$18.17 Million |
|
Delta Resources Ltd
V:DLTA
|
$18.17 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Smart Concrete Public Company Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 671,770,000 to 661,960,000, a change of -9,810,000 (-1.5%).
- Net income of 87,018,000 contributed positively to equity growth.
- Dividend payments of 94,947,000 reduced retained earnings.
- Other comprehensive income increased equity by 4,400,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿87.02 Million | +13.15% |
| Dividends Paid | ฿94.95 Million | -14.34% |
| Other Comprehensive Income | ฿4.40 Million | +0.66% |
| Other Changes | ฿-6.28 Million | -0.95% |
| Total Change | ฿- | -1.46% |
Book Value vs Market Value Analysis
This analysis compares Smart Concrete 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: 0.88x
- 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 1.02x to 0.88x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2013-12-31 | ฿0.55 | ฿0.56 | x |
| 2014-12-31 | ฿0.73 | ฿0.56 | x |
| 2015-12-31 | ฿0.56 | ฿0.56 | x |
| 2016-12-31 | ฿0.58 | ฿0.56 | x |
| 2017-12-31 | ฿0.51 | ฿0.56 | x |
| 2018-12-31 | ฿0.49 | ฿0.56 | x |
| 2019-12-31 | ฿0.54 | ฿0.56 | x |
| 2020-12-31 | ฿0.56 | ฿0.56 | x |
| 2021-12-31 | ฿0.64 | ฿0.56 | x |
| 2022-12-31 | ฿0.58 | ฿0.56 | x |
| 2023-12-31 | ฿0.64 | ฿0.56 | x |
| 2024-12-31 | ฿0.64 | ฿0.56 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Smart Concrete 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): 13.15%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 15.02%
- • Asset Turnover: 0.75x
- • Equity Multiplier: 1.16x
- Recent ROE (13.15%) is above the historical average (3.49%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | 4.87% | 4.98% | 0.60x | 1.62x | ฿-21.90 Million |
| 2014 | 7.00% | 9.64% | 0.58x | 1.24x | ฿-17.91 Million |
| 2015 | -2.36% | -3.90% | 0.49x | 1.23x | ฿-72.00 Million |
| 2016 | -6.75% | -11.77% | 0.46x | 1.24x | ฿-91.39 Million |
| 2017 | -15.71% | -24.14% | 0.48x | 1.36x | ฿-121.38 Million |
| 2018 | -5.10% | -6.28% | 0.59x | 1.39x | ฿-67.87 Million |
| 2019 | 8.98% | 9.50% | 0.76x | 1.24x | ฿-5.00 Million |
| 2020 | 8.91% | 10.99% | 0.65x | 1.24x | ฿-5.59 Million |
| 2021 | 6.56% | 8.72% | 0.63x | 1.19x | ฿-20.88 Million |
| 2022 | 6.44% | 6.83% | 0.76x | 1.23x | ฿-21.53 Million |
| 2023 | 15.87% | 15.03% | 0.86x | 1.22x | ฿39.40 Million |
| 2024 | 13.15% | 15.02% | 0.75x | 1.16x | ฿20.82 Million |
Industry Comparison
This section compares Smart Concrete Public Company Limited's net assets metrics with peer companies in the Building Materials industry.
Industry Context
- Industry: Building Materials
- Average net assets among peers: $9,885,550,769
- Average return on equity (ROE) among peers: 4.89%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Smart Concrete Public Company Limited (SMART) | ฿634.54 Million | 4.87% | 0.15x | $18.18 Million |
| Chonburi Concrete Product Public Company Limited (CCP) | $573.31 Million | -34.45% | 4.88x | $23.29 Million |
| Dcon Products Public Company Limited (DCON) | $950.41 Million | 22.66% | 0.36x | $35.26 Million |
| General Engineering Public Company Limited (GEL) | $4.20 Billion | -10.95% | 1.51x | $8.05 Million |
| Siam City Cement Public Company Limited (SCCC) | $16.80 Billion | 24.24% | 0.25x | $1.30 Billion |
| Southern Concrete Pile PCL (SCP) | $189.61 Million | 20.36% | 4.02x | $71.71 Million |
| Tipco Asphalt Public Company Limited (TASCO) | $1.84 Billion | 1.64% | 1.71x | $664.15 Million |
| Tipco Asphalt Public Company Limited (TASCO-R) | $5.89 Billion | 14.11% | 2.44x | $737.94 Million |
| TPI Polene Public Company Limited (TPIPL) | $57.71 Billion | 1.05% | 0.43x | $507.57 Million |
| Thai Wire Products Public Company Limited (TWP) | $809.93 Million | 5.36% | 0.83x | $9.57 Million |
About Smart Concrete Public Company Limited
Smart Concrete Public Company Limited manufactures and sells autoclave aerated concrete block products for use in construction in Thailand. It offers construction and decorative products under the SMART BLOCK name. The company was founded in 2004 and is headquartered in Chonburi, Thailand. Smart Concrete Public Company Limited is a subsidiary of Chonburi Concrete Product Public Company Limited.