Supalai Public Company Limited (SPALI-R) - Net Assets
Based on the latest financial reports, Supalai Public Company Limited (SPALI-R) has net assets worth ฿53.58 Billion THB (≈ $1.67 Billion USD) as of June 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿97.90 Billion ≈ $3.05 Billion USD) and total liabilities (฿44.32 Billion ≈ $1.38 Billion 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 Supalai Public Company Limited's assets to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ฿53.58 Billion |
| % of Total Assets | 54.73% |
| Annual Growth Rate | 16.53% |
| 5-Year Change | 44.99% |
| 10-Year Change | 165.14% |
| Growth Volatility | 16.04 |
Supalai Public Company Limited - Net Assets Trend (2002–2024)
This chart illustrates how Supalai Public Company Limited's net assets have evolved over time, based on quarterly financial data. Also explore SPALI-R current and non-current assets for the complete picture of this company's asset base.
Annual Net Assets for Supalai Public Company Limited (2002–2024)
The table below shows the annual net assets of Supalai Public Company Limited from 2002 to 2024. For live valuation and market cap data, see Supalai Public Company Limited stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ฿54.22 Billion ≈ $1.69 Billion |
+5.35% |
| 2023-12-31 | ฿51.46 Billion ≈ $1.60 Billion |
+8.43% |
| 2022-12-31 | ฿47.46 Billion ≈ $1.48 Billion |
+10.57% |
| 2021-12-31 | ฿42.93 Billion ≈ $1.34 Billion |
+14.79% |
| 2020-12-31 | ฿37.40 Billion ≈ $1.17 Billion |
-1.20% |
| 2019-12-31 | ฿37.85 Billion ≈ $1.18 Billion |
+9.01% |
| 2018-12-31 | ฿34.72 Billion ≈ $1.08 Billion |
+22.34% |
| 2017-12-31 | ฿28.38 Billion ≈ $884.59 Million |
+20.19% |
| 2016-12-31 | ฿23.61 Billion ≈ $735.97 Million |
+15.46% |
| 2015-12-31 | ฿20.45 Billion ≈ $637.41 Million |
+13.75% |
| 2014-12-31 | ฿17.98 Billion ≈ $560.34 Million |
+22.22% |
| 2013-12-31 | ฿14.71 Billion ≈ $458.46 Million |
+14.13% |
| 2012-12-31 | ฿12.89 Billion ≈ $401.70 Million |
+15.77% |
| 2011-12-31 | ฿11.13 Billion ≈ $346.99 Million |
+19.41% |
| 2010-12-31 | ฿9.32 Billion ≈ $290.58 Million |
+19.19% |
| 2009-12-31 | ฿7.82 Billion ≈ $243.79 Million |
+47.84% |
| 2008-12-31 | ฿5.29 Billion ≈ $164.90 Million |
+5.97% |
| 2007-12-31 | ฿4.99 Billion ≈ $155.61 Million |
+11.84% |
| 2006-12-31 | ฿4.46 Billion ≈ $139.13 Million |
+20.54% |
| 2005-12-31 | ฿3.70 Billion ≈ $115.42 Million |
+20.98% |
| 2004-12-31 | ฿3.06 Billion ≈ $95.41 Million |
-6.09% |
| 2003-12-31 | ฿3.26 Billion ≈ $101.59 Million |
+74.08% |
| 2002-12-31 | ฿1.87 Billion ≈ $58.36 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Supalai 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 5566.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿51.99 Billion | 97.77% |
| Other Components | ฿1.18 Billion | 2.23% |
| Total Equity | ฿53.18 Billion | 100.00% |
Supalai Public Company Limited Competitors by Market Cap
The table below lists competitors of Supalai Public Company Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Truworths International Ltd
JSE:TRU
|
$1.02 Billion |
|
Changchun Faway Automobile Components Co Ltd
SHG:600742
|
$1.02 Billion |
|
Truking Technology Ltd
SHE:300358
|
$1.02 Billion |
|
Chengdu Guibao Science Tech
SHE:300019
|
$1.02 Billion |
|
Heritage Financial Corporation
NASDAQ:HFWA
|
$1.02 Billion |
|
5I5j Holding Group Co Ltd
SHE:000560
|
$1.02 Billion |
|
Vetoquinol
PA:VETO
|
$1.02 Billion |
|
MPC Container Ships ASA
OL:MPCC
|
$1.02 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Supalai Public Company Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 50,475,126,265 to 53,175,645,990, a change of 2,700,519,725 (5.4%).
- Net income of 6,189,538,962 contributed positively to equity growth.
- Dividend payments of 2,635,935,634 reduced retained earnings.
- Other comprehensive income increased equity by 653,174,376.
- Other factors decreased equity by 1,506,257,979.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿6.19 Billion | +11.64% |
| Dividends Paid | ฿2.64 Billion | -4.96% |
| Other Comprehensive Income | ฿653.17 Million | +1.23% |
| Other Changes | ฿-1.51 Billion | -2.83% |
| Total Change | ฿- | 5.35% |
Book Value vs Market Value Analysis
This analysis compares Supalai 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: 0.64x
- 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 6.12x to 0.64x 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 | ฿2.84 | ฿17.40 | x |
| 2003-12-31 | ฿2.93 | ฿17.40 | x |
| 2004-12-31 | ฿2.34 | ฿17.40 | x |
| 2005-12-31 | ฿2.68 | ฿17.40 | x |
| 2006-12-31 | ฿2.66 | ฿17.40 | x |
| 2007-12-31 | ฿2.84 | ฿17.40 | x |
| 2008-12-31 | ฿3.02 | ฿17.40 | x |
| 2009-12-31 | ฿4.40 | ฿17.40 | x |
| 2010-12-31 | ฿5.24 | ฿17.40 | x |
| 2011-12-31 | ฿6.26 | ฿17.40 | x |
| 2012-12-31 | ฿7.27 | ฿17.40 | x |
| 2013-12-31 | ฿8.31 | ฿17.40 | x |
| 2014-12-31 | ฿10.16 | ฿17.40 | x |
| 2015-12-31 | ฿11.54 | ฿17.40 | x |
| 2016-12-31 | ฿13.37 | ฿17.40 | x |
| 2017-12-31 | ฿15.48 | ฿17.40 | x |
| 2018-12-31 | ฿17.20 | ฿17.40 | x |
| 2019-12-31 | ฿17.31 | ฿17.40 | x |
| 2020-12-31 | ฿18.36 | ฿17.40 | x |
| 2021-12-31 | ฿21.59 | ฿17.40 | x |
| 2022-12-31 | ฿23.85 | ฿17.40 | x |
| 2023-12-31 | ฿25.88 | ฿17.40 | x |
| 2024-12-31 | ฿27.23 | ฿17.40 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Supalai 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): 11.64%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 19.84%
- • Asset Turnover: 0.32x
- • Equity Multiplier: 1.81x
- Recent ROE (11.64%) is below the historical average (22.24%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 52.84% | 41.75% | 0.42x | 2.99x | ฿769.43 Million |
| 2003 | 38.88% | 32.30% | 0.66x | 1.84x | ฿907.75 Million |
| 2004 | 16.92% | 22.11% | 0.38x | 2.02x | ฿196.55 Million |
| 2005 | 24.05% | 23.69% | 0.47x | 2.16x | ฿484.88 Million |
| 2006 | 20.92% | 18.75% | 0.56x | 1.98x | ฿459.40 Million |
| 2007 | 18.07% | 16.81% | 0.47x | 2.27x | ฿381.44 Million |
| 2008 | 21.60% | 17.41% | 0.46x | 2.68x | ฿583.70 Million |
| 2009 | 32.78% | 25.55% | 0.64x | 2.01x | ฿1.72 Billion |
| 2010 | 28.48% | 22.93% | 0.61x | 2.03x | ฿1.66 Billion |
| 2011 | 23.89% | 20.24% | 0.62x | 1.91x | ฿1.49 Billion |
| 2012 | 22.01% | 23.83% | 0.49x | 1.90x | ฿1.50 Billion |
| 2013 | 20.22% | 22.85% | 0.41x | 2.15x | ฿1.46 Billion |
| 2014 | 25.70% | 24.09% | 0.49x | 2.18x | ฿2.74 Billion |
| 2015 | 21.93% | 20.36% | 0.45x | 2.38x | ฿2.37 Billion |
| 2016 | 21.30% | 20.94% | 0.45x | 2.25x | ฿2.59 Billion |
| 2017 | 21.00% | 23.23% | 0.45x | 2.01x | ฿3.04 Billion |
| 2018 | 16.98% | 22.58% | 0.44x | 1.70x | ฿2.37 Billion |
| 2019 | 14.57% | 22.93% | 0.39x | 1.63x | ฿1.69 Billion |
| 2020 | 11.62% | 20.65% | 0.30x | 1.86x | ฿593.29 Million |
| 2021 | 16.81% | 24.25% | 0.41x | 1.70x | ฿2.86 Billion |
| 2022 | 17.57% | 23.70% | 0.43x | 1.72x | ฿3.52 Billion |
| 2023 | 11.87% | 19.21% | 0.36x | 1.71x | ฿941.91 Million |
| 2024 | 11.64% | 19.84% | 0.32x | 1.81x | ฿871.97 Million |
Industry Comparison
This section compares Supalai 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: $9,137,884,451
- Average return on equity (ROE) among peers: 6.67%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Supalai Public Company Limited (SPALI-R) | ฿53.58 Billion | 52.84% | 0.83x | $1.02 Billion |
| Areeya Property Public Company Limited (A) | $2.35 Billion | 18.18% | 1.34x | $147.84 Million |
| Amata Corporation Public Company Limited (AMATA) | $6.74 Billion | 13.83% | 1.69x | $738.40 Million |
| Amata Corporation Public Company Limited (AMATA-R) | $16.98 Billion | 10.26% | 1.14x | $605.77 Million |
| Ananda Development Public Company Limited (ANAN) | $10.75 Billion | 13.96% | 1.36x | $45.45 Million |
| AP (Thailand) Public Company Limited (AP) | $43.64 Billion | 11.50% | 0.95x | $843.27 Million |
| Baan Rock Garden Public Company Limited (BROCK) | $1.24 Billion | 1.31% | 0.02x | $40.57 Million |
| Country Group Development Public Company Limited (CGD) | $54.92 Million | 0.00% | 12.48x | $30.92 Million |
| Chewathai Public Company Limited (CHEWA) | $1.90 Billion | 3.68% | 2.55x | $6.76 Million |
| Charn Issara Development Public Company Limited (CI) | $2.62 Billion | -8.47% | 3.90x | $10.31 Million |
| Eastern Star Real Estate Public Company Limited (ESTAR) | $5.09 Billion | 2.48% | 0.44x | $37.57 Million |
About Supalai Public Company Limited
Supalai Public Company Limited, together with its subsidiaries, engages in the property development business in Thailand and Australia. It operates through Real estate Business and Hotel Business and Management segments. The company owns and operates housing projects, including detached houses, duplex houses, townhouses, and condominiums, as well as develops office buildings, resorts, and hotels … Read more