S P V I Public Company Limited (SPVI) - Net Assets
Based on the latest financial reports, S P V I Public Company Limited (SPVI) has net assets worth ฿638.69 Million THB (≈ $19.91 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿1.37 Billion ≈ $42.68 Million USD) and total liabilities (฿730.69 Million ≈ $22.77 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. Explore S P V I Public Company Limited operating cash flow efficiency to assess how effectively this company generates cash.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ฿638.69 Million |
| % of Total Assets | 46.64% |
| Annual Growth Rate | 9.51% |
| 5-Year Change | 29.8% |
| 10-Year Change | 131.57% |
| Growth Volatility | 7.96 |
S P V I Public Company Limited - Net Assets Trend (2011–2025)
This chart illustrates how S P V I Public Company Limited's net assets have evolved over time, based on quarterly financial data. Explore S P V I Public Company Limited (SPVI) investment intensity to see how much of total assets are deployed in long-term investments.
Annual Net Assets for S P V I Public Company Limited (2011–2025)
The table below shows the annual net assets of S P V I Public Company Limited from 2011 to 2025. For live valuation and market cap data, see S P V I Public Company Limited (SPVI) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ฿638.69 Million ≈ $19.91 Million |
+12.24% |
| 2024-12-31 | ฿569.06 Million ≈ $17.74 Million |
-1.89% |
| 2023-12-31 | ฿580.04 Million ≈ $18.08 Million |
+5.49% |
| 2022-12-31 | ฿549.85 Million ≈ $17.14 Million |
+11.75% |
| 2021-12-31 | ฿492.05 Million ≈ $15.34 Million |
+19.35% |
| 2020-12-31 | ฿412.27 Million ≈ $12.85 Million |
+8.79% |
| 2019-12-31 | ฿378.97 Million ≈ $11.81 Million |
+15.29% |
| 2018-12-31 | ฿328.72 Million ≈ $10.25 Million |
+9.03% |
| 2017-12-31 | ฿301.48 Million ≈ $9.40 Million |
+9.31% |
| 2016-12-31 | ฿275.81 Million ≈ $8.60 Million |
-1.03% |
| 2015-12-31 | ฿278.68 Million ≈ $8.69 Million |
-0.14% |
| 2014-12-31 | ฿279.07 Million ≈ $8.70 Million |
+3.41% |
| 2013-12-31 | ฿269.87 Million ≈ $8.41 Million |
+21.67% |
| 2012-12-31 | ฿221.80 Million ≈ $6.91 Million |
+23.97% |
| 2011-12-31 | ฿178.92 Million ≈ $5.58 Million |
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Equity Component Analysis
This analysis shows how different components contribute to S P V I 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 543.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿378.88 Million | 59.32% |
| Other Components | ฿259.81 Million | 40.68% |
| Total Equity | ฿638.69 Million | 100.00% |
S P V I Public Company Limited Competitors by Market Cap
The table below lists competitors of S P V I Public Company Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
CZR Resources Ltd
AU:CZR
|
$40.66 Million |
|
KB SPAC 7
KQ:214270
|
$40.68 Million |
|
Studio Mir Co. Ltd.
KQ:408900
|
$40.70 Million |
|
Chian Hsing Forging Industrial Co Ltd
TWO:4528
|
$40.70 Million |
|
Vanfund Urban Investment & Development Co Ltd
SHE:000638
|
$40.55 Million |
|
HARMONEY CORP. LTD
F:6DR
|
$40.54 Million |
|
Sound Group Inc.
NASDAQ:SOGP
|
$40.52 Million |
|
P&K Skin Research Center Co. Ltd
KQ:347740
|
$40.52 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in S P V I Public Company Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 569,062,414 to 638,693,846, a change of 69,631,432 (12.2%).
- Net income of 101,631,120 contributed positively to equity growth.
- Dividend payments of 31,961,235 reduced retained earnings.
- Other comprehensive income decreased equity by 20,000,000.
- Other factors increased equity by 19,961,547.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿101.63 Million | +15.91% |
| Dividends Paid | ฿31.96 Million | -5.0% |
| Other Comprehensive Income | ฿-20.00 Million | -3.13% |
| Other Changes | ฿19.96 Million | +3.13% |
| Total Change | ฿- | 12.24% |
Book Value vs Market Value Analysis
This analysis compares S P V I 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: 2.04x
- 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 4.26x to 2.04x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2012-12-31 | ฿0.76 | ฿3.26 | x |
| 2013-12-31 | ฿0.97 | ฿3.26 | x |
| 2014-12-31 | ฿0.70 | ฿3.26 | x |
| 2015-12-31 | ฿0.70 | ฿3.26 | x |
| 2016-12-31 | ฿0.69 | ฿3.26 | x |
| 2017-12-31 | ฿0.75 | ฿3.26 | x |
| 2018-12-31 | ฿0.82 | ฿3.26 | x |
| 2019-12-31 | ฿0.95 | ฿3.26 | x |
| 2020-12-31 | ฿1.03 | ฿3.26 | x |
| 2021-12-31 | ฿1.23 | ฿3.26 | x |
| 2022-12-31 | ฿1.37 | ฿3.26 | x |
| 2023-12-31 | ฿1.45 | ฿3.26 | x |
| 2024-12-31 | ฿1.42 | ฿3.26 | x |
| 2025-12-31 | ฿1.60 | ฿3.26 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently S P V I 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): 15.91%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.22%
- • Asset Turnover: 6.07x
- • Equity Multiplier: 2.14x
- Recent ROE (15.91%) is above the historical average (13.51%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2012 | 20.69% | 1.82% | 4.80x | 2.37x | ฿23.70 Million |
| 2013 | 6.02% | 0.71% | 5.50x | 1.55x | ฿-10.73 Million |
| 2014 | 5.63% | 0.81% | 4.57x | 1.53x | ฿-12.19 Million |
| 2015 | 3.12% | 0.47% | 4.30x | 1.55x | ฿-19.18 Million |
| 2016 | 1.86% | 0.29% | 4.49x | 1.44x | ฿-22.45 Million |
| 2017 | 10.11% | 1.47% | 4.21x | 1.63x | ฿319.81K |
| 2018 | 13.76% | 1.77% | 4.26x | 1.83x | ฿12.35 Million |
| 2019 | 19.97% | 2.12% | 4.90x | 1.92x | ฿37.80 Million |
| 2020 | 17.78% | 2.04% | 4.16x | 2.10x | ฿32.07 Million |
| 2021 | 25.52% | 2.27% | 6.99x | 1.61x | ฿76.36 Million |
| 2022 | 23.02% | 2.27% | 5.29x | 1.91x | ฿71.58 Million |
| 2023 | 17.27% | 1.49% | 5.46x | 2.12x | ฿42.19 Million |
| 2024 | 8.50% | 0.71% | 5.59x | 2.13x | ฿-8.52 Million |
| 2025 | 15.91% | 1.22% | 6.07x | 2.14x | ฿37.76 Million |
Industry Comparison
This section compares S P V I Public Company Limited's net assets metrics with peer companies in the Electronics & Computer Distribution industry.
Industry Context
- Industry: Electronics & Computer Distribution
- Average net assets among peers: $1,539,562,142
- Average return on equity (ROE) among peers: 9.54%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| S P V I Public Company Limited (SPVI) | ฿638.69 Million | 20.69% | 1.14x | $40.64 Million |
| AJ Advance Technology Public Company Limited (AJA) | $368.74 Million | 18.52% | 2.33x | $23.41 Million |
| Comanche International Public Company Limited (COMAN) | $346.37 Million | -7.08% | 0.13x | $2.71 Million |
| Communication & System Solution Public Company Limited (CSS) | $1.70 Billion | 10.04% | 1.03x | $34.81 Million |
| IT City Public Company Limited (IT) | $1.04 Billion | 1.47% | 0.74x | $61.10 Million |
| Metro Systems Corporation Public Company Limited (MSC) | $1.47 Billion | 12.00% | 1.13x | $63.96 Million |
| Simat Technologies Public Company Limited (SIMAT) | $255.90 Million | 13.55% | 1.76x | $28.50 Million |
| SiS Distribution (Thailand) Public Company Limited (SIS) | $2.81 Billion | 21.27% | 1.73x | $239.05 Million |
| SVOA Public Company Limited (SVOA) | $1.79 Billion | 3.48% | 1.11x | $44.63 Million |
| Synnex (Thailand) Public Company Limited (SYNEX) | $4.08 Billion | 12.58% | 2.39x | $248.27 Million |
About S P V I Public Company Limited
S P V I Public Company Limited engages in the distribution of computers, mobile phones, and related accessories and services in Thailand. The company distributes Apple products through various retail channels, including iStudio by SPVi, iBeat by SPVi, U"Store by SPVi, AIS Shop, and Mobi, as well as authorized apple service providers under the iCenter name. It also provides Apple solutions and edu… Read more