Tipco Asphalt Public Company Limited (TASCO-R) - Net Assets

Latest as of June 2025: ฿15.18 Billion THB ≈ $473.02 Million USD

Based on the latest financial reports, Tipco Asphalt Public Company Limited (TASCO-R) has net assets worth ฿15.18 Billion THB (≈ $473.02 Million USD) 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 ≈ $738.83 Million USD) and total liabilities (฿8.53 Billion ≈ $265.81 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 financial resilience of Tipco Asphalt Public Company Limited to evaluate the company's liquid asset resilience ratio.

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. Also explore Tipco Asphalt Public Company Limited (TASCO-R) total assets for the complete picture of this company's asset base.

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. For live valuation and market cap data, see market cap of Tipco Asphalt Public Company Limited.

Year	Net Assets	Change
2024-12-31	฿16.09 Billion ≈ $501.60 Million	-4.79%
2023-12-31	฿16.90 Billion ≈ $526.82 Million	+0.65%
2022-12-31	฿16.79 Billion ≈ $523.40 Million	+5.36%
2021-12-31	฿15.94 Billion ≈ $496.75 Million	+6.10%
2020-12-31	฿15.02 Billion ≈ $468.18 Million	+10.62%
2019-12-31	฿13.58 Billion ≈ $423.24 Million	+8.31%
2018-12-31	฿12.54 Billion ≈ $390.77 Million	-3.03%
2017-12-31	฿12.93 Billion ≈ $402.99 Million	+5.42%
2016-12-31	฿12.27 Billion ≈ $382.29 Million	+16.10%
2015-12-31	฿10.56 Billion ≈ $329.29 Million	+72.48%
2014-12-31	฿6.13 Billion ≈ $190.91 Million	+3.97%
2013-12-31	฿5.89 Billion ≈ $183.62 Million	+16.82%
2012-12-31	฿5.04 Billion ≈ $157.18 Million	+13.50%
2011-12-31	฿4.44 Billion ≈ $138.48 Million	+22.46%
2010-12-31	฿3.63 Billion ≈ $113.08 Million	+27.16%
2009-12-31	฿2.85 Billion ≈ $88.93 Million	+20.54%
2008-12-31	฿2.37 Billion ≈ $73.78 Million	-24.70%
2007-12-31	฿3.14 Billion ≈ $97.97 Million	+3.03%
2006-12-31	฿3.05 Billion ≈ $95.09 Million	+16.13%
2005-12-31	฿2.63 Billion ≈ $81.88 Million	+42.64%
2004-12-31	฿1.84 Billion ≈ $57.41 Million	-44.38%
2003-12-31	฿3.31 Billion ≈ $103.22 Million	+66.47%
2002-12-31	฿1.99 Billion ≈ $62.00 Million	--

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
Guangdong Eastone Century Technology Co Ltd SHE:300310	$737.96 Million
Jiahe Foods Industry Co. Ltd. SHG:605300	$738.07 Million
Beijing Dataway Horizon Co. Ltd SHE:301169	$738.14 Million
Heartland Express Inc NASDAQ:HTLD	$738.15 Million
Jilin Yatai Group Co Ltd SHG:600881	$737.83 Million
Chongqing Shunbo Aluminum Co Ltd SHE:002996	$737.64 Million
Xinjiang Machinery Research Inst SHE:300159	$737.56 Million
Jiangsu Alcha Aluminium Co Ltd SHE:002160	$737.51 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: $9,283,452,582
Average return on equity (ROE) among peers: 1.58%

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	$737.94 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
Smart Concrete Public Company Limited (SMART)	$472.05 Million	-15.71%	0.36x	$18.18 Million
Tipco Asphalt Public Company Limited (TASCO)	$1.84 Billion	1.64%	1.71x	$664.15 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 Tipco Asphalt Public Company Limited

BK:TASCO-R Thailand Building Materials

Market Cap

$737.94 Million

฿23.68 Billion THB

Market Cap Rank

#10562 Global

#95 in Thailand

Share Price

฿15.00

Change (1 day)

-1.32%

52-Week Range

฿13.20 - ฿15.60

All Time High

฿28.75