TBN Corp. PCL
TBN Corporation Public Company Limited provides low-code solutions to various blue-chip and multinational corporations in Thailand. The company offers Mendix low-code platform, a software development technology. It is also involved in sales and development of software, including consultation on software. TBN Corporation Public Company Limited was founded in 2008 and is based in Bangkok, Thailand.
TBN Corp. PCL (TBN) - Net Assets
Latest net assets as of September 2024: ฿525.84 Million THB
Based on the latest financial reports, TBN Corp. PCL (TBN) has net assets worth ฿525.84 Million THB as of September 2024.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿713.96 Million) and total liabilities (฿188.12 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 | ฿525.84 Million |
| % of Total Assets | 73.65% |
| Annual Growth Rate | 73.77% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 236.41 |
TBN Corp. PCL - Net Assets Trend (2019–2023)
This chart illustrates how TBN Corp. 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 TBN Corp. PCL (2019–2023)
The table below shows the annual net assets of TBN Corp. PCL from 2019 to 2023.
| Year | Net Assets | Change |
|---|---|---|
| 2023-12-31 | ฿505.06 Million | +558.11% |
| 2022-12-31 | ฿76.74 Million | +32.64% |
| 2021-12-31 | ฿57.86 Million | -18.51% |
| 2020-12-31 | ฿71.00 Million | +28.18% |
| 2019-12-31 | ฿55.39 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to TBN Corp. 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 decreased by 7.9% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2023)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿48.26 Million | 9.58% |
| Common Stock | ฿50.00 Million | 9.93% |
| Other Comprehensive Income | ฿5.00 Million | 0.99% |
| Other Components | ฿400.47 Million | 79.50% |
| Total Equity | ฿503.73 Million | 100.00% |
TBN Corp. PCL Competitors by Market Cap
The table below lists competitors of TBN Corp. PCL ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Bebe Stores, Inc.
PINK:BEBE
|
$3.87 Million |
|
ExGen Resources Inc
PINK:BXXRF
|
$3.87 Million |
|
AMERIPRISE FINCL (A4S.SG)
STU:A4S
|
$3.87 Million |
|
Credit Intelligence Ltd
AU:CI1
|
$3.87 Million |
|
SHH Resources Holdings Bhd
KLSE:7412
|
$3.87 Million |
|
Cannabis Bioscience International Holdings Inc.
PINK:CBIH
|
$3.87 Million |
|
PM Thoresen Asia Holdings PCL
BK:PMTA
|
$3.87 Million |
|
Neolife SA
PA:ALNLF
|
$3.87 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in TBN Corp. PCL's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2022 to 2023, total equity changed from 73,536,375 to 503,726,911, a change of 430,190,536 (585.0%).
- Net income of 74,221,879 contributed positively to equity growth.
- Dividend payments of 56,000,000 reduced retained earnings.
- Share repurchases of 6,293,622 reduced equity.
- New share issuances of 425,000,000 increased equity.
- Other factors decreased equity by 6,737,721.
Equity Change Factors (2022 to 2023)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿74.22 Million | +14.73% |
| Dividends Paid | ฿56.00 Million | -11.12% |
| Share Repurchases | ฿6.29 Million | -1.25% |
| Share Issuances | ฿425.00 Million | +84.37% |
| Other Changes | ฿-6.74 Million | -1.34% |
| Total Change | ฿- | 585.00% |
Book Value vs Market Value Analysis
This analysis compares TBN Corp. 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: 0.70x
- 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 7.24x to 0.70x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2019-12-31 | ฿0.55 | ฿4.00 | x |
| 2020-12-31 | ฿0.67 | ฿4.00 | x |
| 2021-12-31 | ฿0.49 | ฿4.00 | x |
| 2022-12-31 | ฿0.74 | ฿4.00 | x |
| 2023-12-31 | ฿5.68 | ฿4.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently TBN Corp. 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): 14.73%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 16.93%
- • Asset Turnover: 0.63x
- • Equity Multiplier: 1.38x
- Recent ROE (14.73%) is below the historical average (93.27%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | 115.92% | 40.87% | 1.06x | 2.68x | ฿58.52 Million |
| 2020 | 125.04% | 38.78% | 1.30x | 2.48x | ฿76.96 Million |
| 2021 | 160.10% | 26.85% | 1.71x | 3.50x | ฿73.30 Million |
| 2022 | 50.57% | 10.31% | 1.33x | 3.68x | ฿29.84 Million |
| 2023 | 14.73% | 16.93% | 0.63x | 1.38x | ฿23.85 Million |
Industry Comparison
This section compares TBN Corp. PCL's net assets metrics with peer companies in the Software - Application industry.
Industry Context
- Industry: Software - Application
- Average net assets among peers: $440,887,094
- Average return on equity (ROE) among peers: -9.08%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TBN Corp. PCL (TBN) | ฿525.84 Million | 115.92% | 0.36x | $3.87 Million |
| Applicad Public Company Limited (APP) | $38.90 Million | 70.91% | 6.98x | $7.99 Million |
| Humanica Public Company Limited (HUMAN) | $1.20 Billion | 12.28% | 0.15x | $51.19 Million |
| MEB Corp. PCL (MEB) | $145.04 Million | 43.06% | 0.42x | $35.64 Million |
| Netbay Public Company Limited (NETBAY) | $553.82 Million | 38.99% | 0.39x | $62.69 Million |
| News Network Corporation Public Company Limited (NEWS) | $269.48 Million | -210.65% | 4.12x | $17.40 Million |