Tipco Asphalt Public Company Limited
Tipco Asphalt Public Company Limited, together with its subsidiaries, engages in the manufacture and distribution of asphalt and petroleum products in Thailand and internationally. It operates through Manufacturing and Trading; and Construction Business segments. The company engages in manufacturing and trading of asphalt, petroleum oil, and asphalt concrete products. It is also involved in the r… Read more
Tipco Asphalt Public Company Limited (TASCO-R) - Net Assets
Latest net assets as of June 2025: ฿15.18 Billion THB
Based on the latest financial reports, Tipco Asphalt Public Company Limited (TASCO-R) has net assets worth ฿15.18 Billion THB as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿23.70 Billion) and total liabilities (฿8.53 Billion). 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 | ฿15.18 Billion |
| % of Total Assets | 64.02% |
| Annual Growth Rate | 9.97% |
| 5-Year Change | 7.14% |
| 10-Year Change | 52.33% |
| Growth Volatility | 24.74 |
Tipco Asphalt Public Company Limited - Net Assets Trend (2002–2024)
This chart illustrates how Tipco Asphalt 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 Tipco Asphalt Public Company Limited (2002–2024)
The table below shows the annual net assets of Tipco Asphalt Public Company Limited from 2002 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ฿16.09 Billion | -4.79% |
| 2023-12-31 | ฿16.90 Billion | +0.65% |
| 2022-12-31 | ฿16.79 Billion | +5.36% |
| 2021-12-31 | ฿15.94 Billion | +6.10% |
| 2020-12-31 | ฿15.02 Billion | +10.62% |
| 2019-12-31 | ฿13.58 Billion | +8.31% |
| 2018-12-31 | ฿12.54 Billion | -3.03% |
| 2017-12-31 | ฿12.93 Billion | +5.42% |
| 2016-12-31 | ฿12.27 Billion | +16.10% |
| 2015-12-31 | ฿10.56 Billion | +72.48% |
| 2014-12-31 | ฿6.13 Billion | +3.97% |
| 2013-12-31 | ฿5.89 Billion | +16.82% |
| 2012-12-31 | ฿5.04 Billion | +13.50% |
| 2011-12-31 | ฿4.44 Billion | +22.46% |
| 2010-12-31 | ฿3.63 Billion | +27.16% |
| 2009-12-31 | ฿2.85 Billion | +20.54% |
| 2008-12-31 | ฿2.37 Billion | -24.70% |
| 2007-12-31 | ฿3.14 Billion | +3.03% |
| 2006-12-31 | ฿3.05 Billion | +16.13% |
| 2005-12-31 | ฿2.63 Billion | +42.64% |
| 2004-12-31 | ฿1.84 Billion | -44.38% |
| 2003-12-31 | ฿3.31 Billion | +66.47% |
| 2002-12-31 | ฿1.99 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Tipco Asphalt 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 1443.1% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿14.16 Billion | 89.17% |
| Other Components | ฿1.72 Billion | 10.83% |
| Total Equity | ฿15.88 Billion | 100.00% |
Tipco Asphalt Public Company Limited Competitors by Market Cap
The table below lists competitors of Tipco Asphalt Public Company Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Red 5 Limited
PINK:REDLF
|
$290.26 Million |
|
Five Point Holdings LLC
NYSE:FPH
|
$290.28 Million |
|
SintokogioLtd
PINK:SILDF
|
$290.29 Million |
|
Chengdu Huasun Group Inc Ltd
SHE:000790
|
$290.29 Million |
|
Cheng Uei Precision Industry Co Ltd
TW:2392
|
$289.84 Million |
|
Kenda Rubber Industrial Co Ltd
TW:2106
|
$289.75 Million |
|
MVB Financial Corp
NASDAQ:MVBF
|
$289.71 Million |
|
China Wuyi Co Ltd
SHE:000797
|
$289.63 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tipco Asphalt Public Company Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 16,337,168,412 to 15,878,248,001, a change of -458,920,411 (-2.8%).
- Net income of 1,417,148,281 contributed positively to equity growth.
- Dividend payments of 1,578,180,549 reduced retained earnings.
- Other comprehensive income decreased equity by 172,123,329.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿1.42 Billion | +8.93% |
| Dividends Paid | ฿1.58 Billion | -9.94% |
| Other Comprehensive Income | ฿-172.12 Million | -1.08% |
| Other Changes | ฿-125.76 Million | -0.79% |
| Total Change | ฿- | -2.81% |
Book Value vs Market Value Analysis
This analysis compares Tipco Asphalt 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: 1.49x
- 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 9.81x to 1.49x 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 | ฿1.53 | ฿15.00 | x |
| 2003-12-31 | ฿2.54 | ฿15.00 | x |
| 2004-12-31 | ฿1.33 | ฿15.00 | x |
| 2005-12-31 | ฿1.79 | ฿15.00 | x |
| 2006-12-31 | ฿1.72 | ฿15.00 | x |
| 2007-12-31 | ฿1.70 | ฿15.00 | x |
| 2008-12-31 | ฿1.03 | ฿15.00 | x |
| 2009-12-31 | ฿1.33 | ฿15.00 | x |
| 2010-12-31 | ฿1.82 | ฿15.00 | x |
| 2011-12-31 | ฿2.52 | ฿15.00 | x |
| 2012-12-31 | ฿2.90 | ฿15.00 | x |
| 2013-12-31 | ฿3.43 | ฿15.00 | x |
| 2014-12-31 | ฿3.89 | ฿15.00 | x |
| 2015-12-31 | ฿6.61 | ฿15.00 | x |
| 2016-12-31 | ฿7.75 | ฿15.00 | x |
| 2017-12-31 | ฿8.14 | ฿15.00 | x |
| 2018-12-31 | ฿7.87 | ฿15.00 | x |
| 2019-12-31 | ฿8.50 | ฿15.00 | x |
| 2020-12-31 | ฿9.40 | ฿15.00 | x |
| 2021-12-31 | ฿9.74 | ฿15.00 | x |
| 2022-12-31 | ฿10.28 | ฿15.00 | x |
| 2023-12-31 | ฿10.35 | ฿15.00 | x |
| 2024-12-31 | ฿10.06 | ฿15.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tipco Asphalt 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): 8.93%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 5.07%
- • Asset Turnover: 1.18x
- • Equity Multiplier: 1.50x
- Recent ROE (8.93%) is below the historical average (12.31%), 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 | -4.76% | -2.04% | 0.83x | 2.81x | ฿-282.35 Million |
| 2003 | -0.17% | -0.12% | 0.79x | 1.81x | ฿-324.96 Million |
| 2004 | 1.77% | 0.59% | 1.02x | 2.93x | ฿-139.96 Million |
| 2005 | 8.86% | 2.88% | 1.19x | 2.59x | ฿-27.63 Million |
| 2006 | 12.19% | 3.56% | 1.30x | 2.63x | ฿61.73 Million |
| 2007 | 10.48% | 2.90% | 1.50x | 2.41x | ฿13.97 Million |
| 2008 | -68.68% | -12.33% | 1.08x | 5.18x | ฿-1.35 Billion |
| 2009 | 21.94% | 3.44% | 1.13x | 5.63x | ฿265.69 Million |
| 2010 | 33.08% | 3.83% | 2.45x | 3.53x | ฿703.05 Million |
| 2011 | 19.11% | 3.30% | 1.44x | 4.03x | ฿350.58 Million |
| 2012 | 14.52% | 1.71% | 2.02x | 4.22x | ฿199.81 Million |
| 2013 | 15.86% | 2.45% | 1.67x | 3.87x | ฿307.28 Million |
| 2014 | 20.16% | 2.63% | 3.02x | 2.54x | ฿604.90 Million |
| 2015 | 49.17% | 13.68% | 2.20x | 1.63x | ฿4.05 Billion |
| 2016 | 25.59% | 12.94% | 1.23x | 1.60x | ฿1.89 Billion |
| 2017 | 19.82% | 8.98% | 1.45x | 1.52x | ฿1.26 Billion |
| 2018 | 4.56% | 2.04% | 1.14x | 1.96x | ฿-673.75 Million |
| 2019 | 23.30% | 8.47% | 1.46x | 1.88x | ฿1.78 Billion |
| 2020 | 24.21% | 13.73% | 1.23x | 1.44x | ฿2.11 Billion |
| 2021 | 14.44% | 8.21% | 1.09x | 1.61x | ฿682.92 Million |
| 2022 | 14.58% | 7.09% | 1.27x | 1.62x | ฿743.24 Million |
| 2023 | 14.11% | 7.41% | 1.31x | 1.45x | ฿671.80 Million |
| 2024 | 8.93% | 5.07% | 1.18x | 1.50x | ฿-170.68 Million |
Industry Comparison
This section compares Tipco Asphalt 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: $2,706,023,392
- Average return on equity (ROE) among peers: 10.39%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tipco Asphalt Public Company Limited (TASCO-R) | ฿15.18 Billion | -4.76% | 0.56x | $290.07 Million |
| Chonburi Concrete Product Public Company Limited (CCP) | $1.10 Billion | 35.60% | 1.15x | $10.01 Million |
| CPanel PCL (CPANEL) | $453.90 Million | 14.97% | 0.51x | $3.86 Million |
| Dcon Products Public Company Limited (DCON) | $2.29 Billion | 7.12% | 0.10x | $9.17 Million |
| General Engineering Public Company Limited (GEL) | $35.19 Million | 30.10% | 13.99x | $4.96 Million |
| SCG Decor PCL (SCGD) | $21.31 Billion | 1.54% | 0.95x | $60.91 Million |
| Southern Concrete Pile PCL (SCP) | $249.02 Million | -1.95% | 3.01x | $32.16 Million |
| Sirakorn PCL (SK) | $266.57 Million | 10.81% | 0.48x | $4.28 Million |
| Smart Concrete Public Company Limited (SMART) | $449.36 Million | -5.10% | 0.39x | $5.27 Million |
| STC Concrete Product Public Company Limited (STC) | $280.58 Million | 5.49% | 0.97x | $1.47 Million |
| STONE ONE PUBLIC COMPANY LIMITED (STX) | $619.61 Million | 5.35% | 0.18x | $3.48 Million |