Siam Pan Group PCL
Siam Pan Group Public Company Limited, together with its subsidiaries, manufactures and distributes lubricating oils and greases in Thailand, Myanmar, and internationally. The company operates through Lubricating Oil and Grease segments. It offers gasoline engine, transmission, light duty diesel engine, and heavy duty diesel engine oil; agriculture and motorcycle lubricants; and specialty product… Read more
Siam Pan Group PCL (SPG) - Net Assets
Latest net assets as of September 2025: ฿5.71 Billion THB
Based on the latest financial reports, Siam Pan Group PCL (SPG) has net assets worth ฿5.71 Billion THB as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿6.17 Billion) and total liabilities (฿457.05 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 | ฿5.71 Billion |
| % of Total Assets | 92.59% |
| Annual Growth Rate | 5.47% |
| 5-Year Change | 6.74% |
| 10-Year Change | 28.64% |
| Growth Volatility | 3.47 |
Siam Pan Group PCL - Net Assets Trend (2000–2024)
This chart illustrates how Siam Pan Group 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 Siam Pan Group PCL (2000–2024)
The table below shows the annual net assets of Siam Pan Group PCL from 2000 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ฿5.61 Billion | -0.52% |
| 2023-12-31 | ฿5.64 Billion | +1.19% |
| 2022-12-31 | ฿5.57 Billion | +3.26% |
| 2021-12-31 | ฿5.40 Billion | +2.69% |
| 2020-12-31 | ฿5.26 Billion | +2.56% |
| 2019-12-31 | ฿5.13 Billion | +1.33% |
| 2018-12-31 | ฿5.06 Billion | +4.54% |
| 2017-12-31 | ฿4.84 Billion | +3.19% |
| 2016-12-31 | ฿4.69 Billion | +7.51% |
| 2015-12-31 | ฿4.36 Billion | +3.05% |
| 2014-12-31 | ฿4.23 Billion | +6.87% |
| 2013-12-31 | ฿3.96 Billion | +5.50% |
| 2012-12-31 | ฿3.75 Billion | +13.04% |
| 2011-12-31 | ฿3.32 Billion | +4.07% |
| 2010-12-31 | ฿3.19 Billion | +8.57% |
| 2009-12-31 | ฿2.94 Billion | +10.62% |
| 2008-12-31 | ฿2.66 Billion | +9.07% |
| 2007-12-31 | ฿2.44 Billion | +10.49% |
| 2006-12-31 | ฿2.20 Billion | +7.16% |
| 2005-12-31 | ฿2.06 Billion | +2.96% |
| 2004-12-31 | ฿2.00 Billion | +2.37% |
| 2003-12-31 | ฿1.95 Billion | +8.27% |
| 2002-12-31 | ฿1.80 Billion | +9.64% |
| 2001-12-31 | ฿1.64 Billion | +5.08% |
| 2000-12-31 | ฿1.56 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Siam Pan Group 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 grown by 461.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿4.93 Billion | 87.94% |
| Common Stock | ฿345.00 Million | 6.15% |
| Other Comprehensive Income | ฿34.50 Million | 0.61% |
| Other Components | ฿297.30 Million | 5.30% |
| Total Equity | ฿5.61 Billion | 100.00% |
Siam Pan Group PCL Competitors by Market Cap
The table below lists competitors of Siam Pan Group PCL ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Picard Medical, Inc.
NYSE MKT:PMI
|
$29.80 Million |
|
PENTIXAPHARM HOLDING N AG
XETRA:PTP
|
$29.81 Million |
|
Korchip
KQ:126730
|
$29.82 Million |
|
Stellar Resources Limited
PINK:SLROF
|
$29.82 Million |
|
Scilex Holding Company
NASDAQ:SCLX
|
$29.79 Million |
|
Ganesh Benzoplast Limited
NSE:GANESHBE
|
$29.79 Million |
|
Home Federal Bancorp Louisiana
NASDAQ:HFBL
|
$29.79 Million |
|
DHG Pharmaceutical JSC
VN:DHG
|
$29.78 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Siam Pan Group PCL's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 5,640,072,483 to 5,610,838,648, a change of -29,233,835 (-0.5%).
- Net income of 246,743,407 contributed positively to equity growth.
- Dividend payments of 276,000,000 reduced retained earnings.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿246.74 Million | +4.4% |
| Dividends Paid | ฿276.00 Million | -4.92% |
| Other Changes | ฿22.76K | +0.0% |
| Total Change | ฿- | -0.52% |
Book Value vs Market Value Analysis
This analysis compares Siam Pan Group 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: 0.75x
- 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 1.94x to 0.75x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-12-31 | ฿6.30 | ฿12.20 | x |
| 2007-12-31 | ฿6.99 | ฿12.20 | x |
| 2008-12-31 | ฿7.65 | ฿12.20 | x |
| 2009-12-31 | ฿8.47 | ฿12.20 | x |
| 2010-12-31 | ฿9.19 | ฿12.20 | x |
| 2011-12-31 | ฿9.57 | ฿12.20 | x |
| 2012-12-31 | ฿10.81 | ฿12.20 | x |
| 2013-12-31 | ฿11.40 | ฿12.20 | x |
| 2014-12-31 | ฿12.18 | ฿12.20 | x |
| 2015-12-31 | ฿12.55 | ฿12.20 | x |
| 2016-12-31 | ฿13.50 | ฿12.20 | x |
| 2017-12-31 | ฿13.93 | ฿12.20 | x |
| 2018-12-31 | ฿14.57 | ฿12.20 | x |
| 2019-12-31 | ฿14.76 | ฿12.20 | x |
| 2020-12-31 | ฿15.14 | ฿12.20 | x |
| 2021-12-31 | ฿15.59 | ฿12.20 | x |
| 2022-12-31 | ฿16.15 | ฿12.20 | x |
| 2023-12-31 | ฿16.35 | ฿12.20 | x |
| 2024-12-31 | ฿16.26 | ฿12.20 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Siam Pan Group 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): 4.40%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 12.10%
- • Asset Turnover: 0.34x
- • Equity Multiplier: 1.07x
- Recent ROE (4.40%) is below the historical average (10.81%), 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 | 21.31% | 13.98% | 1.34x | 1.14x | ฿175.92 Million |
| 2001 | 14.28% | 9.83% | 1.26x | 1.16x | ฿69.96 Million |
| 2003 | 13.41% | 11.00% | 1.08x | 1.13x | ฿66.11 Million |
| 2004 | 8.08% | 6.16% | 1.14x | 1.15x | ฿-38.19 Million |
| 2005 | 6.77% | 5.41% | 1.12x | 1.12x | ฿-66.05 Million |
| 2006 | 9.04% | 6.83% | 1.16x | 1.14x | ฿-20.95 Million |
| 2007 | 13.44% | 9.06% | 1.20x | 1.24x | ฿82.85 Million |
| 2008 | 13.80% | 9.96% | 1.25x | 1.10x | ฿100.38 Million |
| 2009 | 14.53% | 13.66% | 0.93x | 1.15x | ฿132.33 Million |
| 2010 | 13.32% | 12.24% | 0.97x | 1.12x | ฿105.21 Million |
| 2011 | 10.07% | 10.22% | 0.86x | 1.15x | ฿2.31 Million |
| 2012 | 16.13% | 15.08% | 0.95x | 1.13x | ฿228.53 Million |
| 2013 | 16.56% | 17.87% | 0.83x | 1.12x | ฿257.86 Million |
| 2014 | 10.55% | 12.70% | 0.75x | 1.10x | ฿22.96 Million |
| 2015 | 11.26% | 14.40% | 0.72x | 1.09x | ฿54.70 Million |
| 2016 | 12.11% | 17.23% | 0.65x | 1.08x | ฿98.45 Million |
| 2017 | 8.89% | 12.82% | 0.64x | 1.08x | ฿-53.18 Million |
| 2018 | 7.54% | 11.67% | 0.60x | 1.08x | ฿-123.47 Million |
| 2019 | 6.02% | 10.29% | 0.54x | 1.08x | ฿-202.78 Million |
| 2020 | 7.14% | 14.34% | 0.45x | 1.10x | ฿-149.59 Million |
| 2021 | 8.55% | 15.74% | 0.49x | 1.12x | ฿-77.71 Million |
| 2022 | 6.17% | 11.94% | 0.47x | 1.09x | ฿-213.15 Million |
| 2023 | 6.09% | 12.63% | 0.45x | 1.07x | ฿-220.29 Million |
| 2024 | 4.40% | 12.10% | 0.34x | 1.07x | ฿-314.34 Million |
Industry Comparison
This section compares Siam Pan Group PCL's net assets metrics with peer companies in the Specialty Chemicals industry.
Industry Context
- Industry: Specialty Chemicals
- Average net assets among peers: $2,670,174,555
- Average return on equity (ROE) among peers: 8.76%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Siam Pan Group PCL (SPG) | ฿5.71 Billion | 21.31% | 0.08x | $29.79 Million |
| Applied DB Public Company Limited (ADB) | $647.79 Million | 4.28% | 0.42x | $2.41 Million |
| Birla Carbon (Thailand) Public Company Limited (BCT) | $9.29 Billion | 8.68% | 0.88x | $87.76 Million |
| Bio Green Energy Tech PCL (BIOTEC) | $1.18 Billion | -10.27% | 1.57x | $7.06 Million |
| Chememan Public Company Limited (CMAN) | $2.55 Billion | 9.88% | 1.54x | $29.85 Million |
| Salee Colour Public Company Limited (COLOR) | $738.46 Million | 3.24% | 0.77x | $7.47 Million |
| Dimet (Siam) Public Company Limited (DIMET) | $135.26 Million | 1.00% | 0.67x | $2.49 Million |
| Delta Paint PCL (DPAINT) | $205.16 Million | 20.91% | 2.26x | $154.45K |
| Eason & Co Public Company Limited (EASON) | $553.06 Million | 9.23% | 0.29x | $7.50 Million |
| Eastern Polymer Group Public Company Limited (EPG) | $11.04 Billion | 11.04% | 0.40x | $69.91 Million |
| Global Connections Public Company Limited (GC) | $366.31 Million | 29.61% | 1.58x | $20.11 Million |