Thai Union Feedmill PCL
Thai Union Feedmill Public Company Limited, together with its subsidiaries, manufactures and distributes animal feeds in Thailand, Sri Lanka, Pakistan, Indonesia, and internationally. The company operates through four segments: Shrimp Feed Products, Fish Feed Products, Livestock Feed Products, and Others. It offers aquaculture feed products for shrimp, fish, and frog; and livestock feed products … Read more
Thai Union Feedmill PCL (TFM) - Net Assets
Latest net assets as of June 2025: ฿2.64 Billion THB
Based on the latest financial reports, Thai Union Feedmill PCL (TFM) has net assets worth ฿2.64 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 (฿3.78 Billion) and total liabilities (฿1.14 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 | ฿2.64 Billion |
| % of Total Assets | 69.87% |
| Annual Growth Rate | 7.09% |
| 5-Year Change | 84.17% |
| 10-Year Change | N/A |
| Growth Volatility | 24.42 |
Thai Union Feedmill PCL - Net Assets Trend (2015–2024)
This chart illustrates how Thai Union Feedmill 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 Thai Union Feedmill PCL (2015–2024)
The table below shows the annual net assets of Thai Union Feedmill PCL from 2015 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ฿2.73 Billion | +11.37% |
| 2023-12-31 | ฿2.45 Billion | +0.32% |
| 2022-12-31 | ฿2.44 Billion | +1.69% |
| 2021-12-31 | ฿2.40 Billion | +62.10% |
| 2020-12-31 | ฿1.48 Billion | +28.52% |
| 2019-12-31 | ฿1.15 Billion | -7.34% |
| 2018-12-31 | ฿1.25 Billion | -26.76% |
| 2017-12-31 | ฿1.70 Billion | -7.09% |
| 2016-12-31 | ฿1.83 Billion | +24.18% |
| 2015-12-31 | ฿1.47 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Thai Union Feedmill 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 48.5% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿475.93 Million | 18.89% |
| Other Components | ฿2.04 Billion | 81.11% |
| Total Equity | ฿2.52 Billion | 100.00% |
Thai Union Feedmill PCL Competitors by Market Cap
The table below lists competitors of Thai Union Feedmill PCL ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Control Print Limited
NSE:CONTROLPR
|
$32.10 Million |
|
RedFish LongTerm Capital S.p.A.
F:HN5
|
$32.10 Million |
|
UBIVELOX Inc
KQ:089850
|
$32.11 Million |
|
Senko Co. Ltd
KQ:347000
|
$32.13 Million |
|
Chunil Express
KO:000650
|
$32.08 Million |
|
Lara Exploration Ltd
PINK:LRAXF
|
$32.06 Million |
|
Sambo Corrugated Board Co. Ltd
KQ:023600
|
$32.05 Million |
|
TST Group Holding Ltd
TW:4439
|
$32.05 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Thai Union Feedmill PCL's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 2,227,909,000 to 2,519,198,000, a change of 291,289,000 (13.1%).
- Net income of 535,387,000 contributed positively to equity growth.
- Dividend payments of 215,000,000 reduced retained earnings.
- Other comprehensive income decreased equity by 100,000,000.
- Other factors increased equity by 70,902,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿535.39 Million | +21.25% |
| Dividends Paid | ฿215.00 Million | -8.53% |
| Other Comprehensive Income | ฿-100.00 Million | -3.97% |
| Other Changes | ฿70.90 Million | +2.81% |
| Total Change | ฿- | 13.07% |
Book Value vs Market Value Analysis
This analysis compares Thai Union Feedmill 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: 1.23x
- 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 2.10x to 1.23x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2015-12-31 | ฿2.95 | ฿6.20 | x |
| 2016-12-31 | ฿3.66 | ฿6.20 | x |
| 2017-12-31 | ฿3.40 | ฿6.20 | x |
| 2018-12-31 | ฿2.43 | ฿6.20 | x |
| 2019-12-31 | ฿2.11 | ฿6.20 | x |
| 2020-12-31 | ฿2.67 | ฿6.20 | x |
| 2021-12-31 | ฿5.21 | ฿6.20 | x |
| 2022-12-31 | ฿4.39 | ฿6.20 | x |
| 2023-12-31 | ฿4.46 | ฿6.20 | x |
| 2024-12-31 | ฿5.04 | ฿6.20 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Thai Union Feedmill 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): 21.25%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 9.98%
- • Asset Turnover: 1.39x
- • Equity Multiplier: 1.53x
- Recent ROE (21.25%) is below the historical average (25.01%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 22.47% | 9.25% | 1.47x | 1.65x | ฿183.76 Million |
| 2016 | 30.95% | 14.03% | 1.43x | 1.54x | ฿383.26 Million |
| 2017 | 12.84% | 5.14% | 1.86x | 1.35x | ฿48.30 Million |
| 2018 | 33.53% | 9.23% | 1.96x | 1.86x | ฿285.59 Million |
| 2019 | 79.78% | 17.34% | 2.16x | 2.13x | ฿735.41 Million |
| 2020 | 30.83% | 9.84% | 1.67x | 1.87x | ฿278.14 Million |
| 2021 | 9.54% | 4.43% | 1.43x | 1.51x | ฿-10.22 Million |
| 2022 | 4.99% | 2.24% | 1.53x | 1.46x | ฿-109.80 Million |
| 2023 | 3.92% | 1.72% | 1.53x | 1.49x | ฿-135.42 Million |
| 2024 | 21.25% | 9.98% | 1.39x | 1.53x | ฿283.47 Million |
Industry Comparison
This section compares Thai Union Feedmill PCL's net assets metrics with peer companies in the Farm Products industry.
Industry Context
- Industry: Farm Products
- Average net assets among peers: $3,908,004,071
- Average return on equity (ROE) among peers: 4.55%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Thai Union Feedmill PCL (TFM) | ฿2.64 Billion | 22.47% | 0.43x | $32.09 Million |
| Ai Energy Public Company Limited (AIE) | $1.84 Billion | -3.93% | 0.07x | $14.62 Million |
| Agripure Holdings Public Company Limited (APURE) | $2.61 Billion | 10.67% | 0.16x | $10.13 Million |
| Bangkok Ranch PCL (BR) | $4.74 Billion | 2.56% | 1.22x | $25.27 Million |
| Betagro PCL (BTG) | $16.00 Billion | -6.68% | 1.82x | $368.54 Million |
| CHUWIT FARM (2019) PUBLIC COMPANY LIMITED (CFARM) | $425.82 Million | 5.16% | 0.81x | $3.25 Million |
| Chumporn Palm Oil Industry Public Company Limited (CPI) | $2.89 Billion | 11.09% | 0.38x | $27.76 Million |
| Food Moments PCL (FM) | $2.07 Billion | 12.23% | 0.67x | $40.04 Million |
| Lam Soon (Thailand) Public Company Limited (LST) | $3.09 Billion | 12.30% | 0.66x | $33.07 Million |
| PETCHSRIVICHAI ENTERPRISE PUBLIC COMPANY LIMITED (PCE) | $3.37 Billion | -4.59% | 0.97x | $47.27 Million |
| Premier Quality Starch PCL (PQS) | $2.03 Billion | 6.68% | 0.23x | $9.66 Million |