Tropical Canning (Thailand) Public Company Limited
Tropical Canning (Thailand) Public Company Limited engages in manufacturing and trading of canned and pouched seafood products in Thailand, Australia, rest of Asia, the United States, Africa, and Europe. It offers tuna and canned shellfish products; ready-to-serve processed products, including sardines and mackerel in tomato sauce; ready-to-eat processed tuna and salmon; and canned pet food, whic… Read more
Tropical Canning (Thailand) Public Company Limited (TC) - Net Assets
Latest net assets as of September 2025: ฿2.74 Billion THB
Based on the latest financial reports, Tropical Canning (Thailand) Public Company Limited (TC) has net assets worth ฿2.74 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 (฿4.04 Billion) and total liabilities (฿1.30 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 | ฿2.74 Billion |
| % of Total Assets | 67.79% |
| Annual Growth Rate | 2.44% |
| 5-Year Change | 32.66% |
| 10-Year Change | 40.77% |
| Growth Volatility | 6.65 |
Tropical Canning (Thailand) Public Company Limited - Net Assets Trend (2000–2024)
This chart illustrates how Tropical Canning (Thailand) 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 Tropical Canning (Thailand) Public Company Limited (2000–2024)
The table below shows the annual net assets of Tropical Canning (Thailand) Public Company Limited from 2000 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ฿2.68 Billion | +12.26% |
| 2023-12-31 | ฿2.39 Billion | -4.84% |
| 2022-12-31 | ฿2.51 Billion | +19.41% |
| 2021-12-31 | ฿2.10 Billion | +3.99% |
| 2020-12-31 | ฿2.02 Billion | +11.43% |
| 2019-12-31 | ฿1.82 Billion | +2.41% |
| 2018-12-31 | ฿1.77 Billion | +9.28% |
| 2017-12-31 | ฿1.62 Billion | -9.40% |
| 2016-12-31 | ฿1.79 Billion | -6.07% |
| 2015-12-31 | ฿1.91 Billion | +7.17% |
| 2014-12-31 | ฿1.78 Billion | +8.03% |
| 2013-12-31 | ฿1.65 Billion | -2.49% |
| 2012-12-31 | ฿1.69 Billion | +3.88% |
| 2011-12-31 | ฿1.63 Billion | +0.43% |
| 2010-12-31 | ฿1.62 Billion | -0.10% |
| 2009-12-31 | ฿1.62 Billion | +6.89% |
| 2008-12-31 | ฿1.52 Billion | +6.24% |
| 2007-12-31 | ฿1.43 Billion | -8.63% |
| 2006-12-31 | ฿1.56 Billion | -1.90% |
| 2005-12-31 | ฿1.59 Billion | +0.50% |
| 2004-12-31 | ฿1.58 Billion | +0.39% |
| 2003-12-31 | ฿1.58 Billion | +1.52% |
| 2002-12-31 | ฿1.55 Billion | +0.05% |
| 2001-12-31 | ฿1.55 Billion | +3.24% |
| 2000-12-31 | ฿1.50 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Tropical Canning (Thailand) 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 163.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿1.90 Billion | 70.81% |
| Common Stock | ฿330.00 Million | 12.30% |
| Other Comprehensive Income | ฿33.00 Million | 1.23% |
| Other Components | ฿420.49 Million | 15.67% |
| Total Equity | ฿2.68 Billion | 100.00% |
Tropical Canning (Thailand) Public Company Limited Competitors by Market Cap
The table below lists competitors of Tropical Canning (Thailand) Public Company Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Intelgenx Technologs
PINK:IGXT
|
$23.05 Million |
|
Sunndal Sparebank
OL:SUNSB
|
$23.05 Million |
|
Minera Alamos Inc
OTCQX:MAIFF
|
$23.06 Million |
|
Lider Faktoring AS
IS:LIDFA
|
$23.06 Million |
|
Revoil S.A
AT:REVOIL
|
$23.04 Million |
|
Kotra Industries Bhd
KLSE:0002
|
$23.04 Million |
|
Santam
JSE:SNT
|
$23.03 Million |
|
Talaad Thai Leasehold Property Fund
BK:TTLPF
|
$23.03 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tropical Canning (Thailand) Public Company Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 2,390,866,005 to 2,683,983,827, a change of 293,117,822 (12.3%).
- Net income of 329,433,560 contributed positively to equity growth.
- Dividend payments of 33,000,000 reduced retained earnings.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿329.43 Million | +12.27% |
| Dividends Paid | ฿33.00 Million | -1.23% |
| Other Changes | ฿-3.32 Million | -0.12% |
| Total Change | ฿- | 12.26% |
Book Value vs Market Value Analysis
This analysis compares Tropical Canning (Thailand) 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: 0.68x
- 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 1.20x to 0.68x 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 | ฿4.57 | ฿5.50 | x |
| 2007-12-31 | ฿4.32 | ฿5.50 | x |
| 2008-12-31 | ฿4.59 | ฿5.50 | x |
| 2009-12-31 | ฿4.91 | ฿5.50 | x |
| 2010-12-31 | ฿4.90 | ฿5.50 | x |
| 2011-12-31 | ฿4.93 | ฿5.50 | x |
| 2012-12-31 | ฿5.12 | ฿5.50 | x |
| 2013-12-31 | ฿4.99 | ฿5.50 | x |
| 2014-12-31 | ฿5.39 | ฿5.50 | x |
| 2015-12-31 | ฿5.78 | ฿5.50 | x |
| 2016-12-31 | ฿5.43 | ฿5.50 | x |
| 2017-12-31 | ฿4.92 | ฿5.50 | x |
| 2018-12-31 | ฿5.37 | ฿5.50 | x |
| 2019-12-31 | ฿5.50 | ฿5.50 | x |
| 2020-12-31 | ฿6.13 | ฿5.50 | x |
| 2021-12-31 | ฿6.38 | ฿5.50 | x |
| 2022-12-31 | ฿7.61 | ฿5.50 | x |
| 2023-12-31 | ฿7.25 | ฿5.50 | x |
| 2024-12-31 | ฿8.13 | ฿5.50 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tropical Canning (Thailand) 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): 12.27%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 5.01%
- • Asset Turnover: 1.58x
- • Equity Multiplier: 1.54x
- Recent ROE (12.27%) is above the historical average (4.58%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 8.15% | 5.17% | 1.27x | 1.24x | ฿-27.84 Million |
| 2001 | 5.26% | 2.77% | 1.41x | 1.35x | ฿-73.63 Million |
| 2003 | 2.58% | 1.51% | 1.25x | 1.36x | ฿-117.16 Million |
| 2004 | 1.43% | 0.78% | 1.26x | 1.46x | ฿-135.71 Million |
| 2005 | 1.53% | 0.79% | 1.44x | 1.34x | ฿-134.79 Million |
| 2006 | -4.37% | -2.05% | 1.45x | 1.47x | ฿-216.89 Million |
| 2007 | -4.79% | -2.19% | 1.52x | 1.44x | ฿-210.76 Million |
| 2008 | 7.10% | 2.67% | 1.95x | 1.37x | ฿-43.89 Million |
| 2009 | 8.07% | 3.27% | 1.81x | 1.36x | ฿-31.23 Million |
| 2010 | 2.40% | 0.97% | 1.82x | 1.36x | ฿-122.93 Million |
| 2011 | 4.48% | 1.71% | 1.73x | 1.51x | ฿-89.82 Million |
| 2012 | 5.74% | 1.84% | 1.72x | 1.82x | ฿-71.93 Million |
| 2013 | -1.51% | -0.57% | 1.69x | 1.57x | ฿-189.58 Million |
| 2014 | 9.29% | 3.01% | 1.80x | 1.71x | ฿-12.68 Million |
| 2015 | 9.44% | 3.76% | 1.75x | 1.43x | ฿-10.63 Million |
| 2016 | -3.70% | -1.64% | 1.63x | 1.39x | ฿-245.39 Million |
| 2017 | -8.34% | -3.03% | 1.97x | 1.40x | ฿-297.62 Million |
| 2018 | 9.45% | 3.35% | 1.96x | 1.44x | ฿-9.71 Million |
| 2019 | 5.91% | 2.19% | 2.06x | 1.31x | ฿-74.20 Million |
| 2020 | 12.22% | 4.99% | 1.85x | 1.32x | ฿44.84 Million |
| 2021 | 7.31% | 3.56% | 1.41x | 1.45x | ฿-56.70 Million |
| 2022 | 18.22% | 7.56% | 1.87x | 1.29x | ฿206.63 Million |
| 2023 | 1.82% | 0.88% | 1.42x | 1.45x | ฿-195.60 Million |
| 2024 | 12.27% | 5.01% | 1.58x | 1.54x | ฿61.04 Million |
Industry Comparison
This section compares Tropical Canning (Thailand) Public Company Limited's net assets metrics with peer companies in the Packaged Foods industry.
Industry Context
- Industry: Packaged Foods
- Average net assets among peers: $1,744,237,767
- Average return on equity (ROE) among peers: 12.13%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tropical Canning (Thailand) Public Company Limited (TC) | ฿2.74 Billion | 8.15% | 0.48x | $23.04 Million |
| Asian Alliance International PCL (AAI) | $4.88 Billion | 7.84% | 0.15x | $43.65 Million |
| ASIAN PALM OIL PUBLIC COMPANY LIMITED (APO) | $237.14 Million | 5.48% | 0.40x | $9.36 Million |
| Asian Sea Corporation Public Company Limited (ASIAN) | $3.50 Billion | 23.39% | 0.78x | $49.87 Million |
| Bioscience Animal Health PCL (BIS) | $790.50 Million | 6.41% | 0.55x | $4.82 Million |
| Seafresh Industry Public Company Limited (CFRESH) | $2.07 Billion | 0.95% | 1.32x | $8.09 Million |
| Chin Huay PCL (CH) | $1.37 Billion | 9.31% | 0.40x | $13.66 Million |
| CHAOSUA FOODS INDUSTRY PUBLIC COMPANY LIMITED (CHAO) | $597.83 Million | 27.03% | 0.46x | $12.59 Million |
| Kiang Huat Sea Gull Trading Frozen Food Public Company Limited (CHOTI) | $1.39 Billion | 14.18% | 0.11x | $3.48 Million |
| Chiangmai Frozen Foods Public Company Limited (CM) | $1.37 Billion | 7.17% | 0.11x | $6.08 Million |
| Thai Coconut Public Company Limited (COCOCO) | $1.24 Billion | 19.55% | 1.47x | $49.18 Million |