Thachang Green Energy PCL
Thachang Green Energy Public Company Limited engages in the renewable energy business in Thailand. It operates through two segments, Biomass Power Plant Business and Waste Power Plant Business. The company generates and supplies electricity and steam from biomass. It also offers waste management and construction services. The company was founded in 2011 and is headquartered in Surat Thani, Thaila… Read more
Thachang Green Energy PCL (TGE) - Net Assets
Latest net assets as of September 2025: ฿3.06 Billion THB
Based on the latest financial reports, Thachang Green Energy PCL (TGE) has net assets worth ฿3.06 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 (฿3.92 Billion) and total liabilities (฿863.96 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 | ฿3.06 Billion |
| % of Total Assets | 77.99% |
| Annual Growth Rate | 18.58% |
| 5-Year Change | 192.94% |
| 10-Year Change | N/A |
| Growth Volatility | 28.76 |
Thachang Green Energy PCL - Net Assets Trend (2016–2024)
This chart illustrates how Thachang Green Energy 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 Thachang Green Energy PCL (2016–2024)
The table below shows the annual net assets of Thachang Green Energy PCL from 2016 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ฿2.58 Billion | +10.65% |
| 2023-12-31 | ฿2.33 Billion | +11.19% |
| 2022-12-31 | ฿2.10 Billion | +93.43% |
| 2021-12-31 | ฿1.08 Billion | +23.10% |
| 2020-12-31 | ฿879.92 Million | +14.95% |
| 2019-12-31 | ฿765.46 Million | +14.01% |
| 2018-12-31 | ฿671.38 Million | +14.71% |
| 2017-12-31 | ฿585.30 Million | -11.25% |
| 2016-12-31 | ฿659.50 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Thachang Green Energy 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 grown by 64401899200.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿642.41 Million | 24.92% |
| Other Components | ฿1.94 Billion | 75.08% |
| Total Equity | ฿2.58 Billion | 100.00% |
Thachang Green Energy PCL Competitors by Market Cap
The table below lists competitors of Thachang Green Energy PCL ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Organto Foods Inc
PINK:OGOFF
|
$19.62 Million |
|
SAN LEON ENERGY EO -01
F:SZX1
|
$19.63 Million |
|
Ogunsen AB Series B
ST:OGUN-B
|
$19.63 Million |
|
Takarék Jelzálogbank Nyrt
F:FH21
|
$19.64 Million |
|
CSL Finance Limited
NSE:CSLFINANCE
|
$19.61 Million |
|
Goal Acquisitions Corp
PINK:PUCK
|
$19.61 Million |
|
Fleming Properties AB
ST:FLMNG
|
$19.60 Million |
|
Tamawood Ltd
AU:TWD
|
$19.60 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Thachang Green Energy PCL's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 2,329,600,553 to 2,577,593,446, a change of 247,992,893 (10.6%).
- Net income of 251,437,200 contributed positively to equity growth.
- Dividend payments of 5,719,611 reduced retained earnings.
- Other comprehensive income decreased equity by 30,445,314.
- Other factors increased equity by 32,720,618.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿251.44 Million | +9.75% |
| Dividends Paid | ฿5.72 Million | -0.22% |
| Other Comprehensive Income | ฿-30.45 Million | -1.18% |
| Other Changes | ฿32.72 Million | +1.27% |
| Total Change | ฿- | 10.65% |
Book Value vs Market Value Analysis
This analysis compares Thachang Green Energy 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: 1.02x
- 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 3.26x to 1.02x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | ฿0.37 | ฿1.19 | x |
| 2018-12-31 | ฿0.42 | ฿1.19 | x |
| 2019-12-31 | ฿0.35 | ฿1.19 | x |
| 2020-12-31 | ฿0.40 | ฿1.19 | x |
| 2021-12-31 | ฿0.49 | ฿1.19 | x |
| 2022-12-31 | ฿1.15 | ฿1.19 | x |
| 2023-12-31 | ฿1.06 | ฿1.19 | x |
| 2024-12-31 | ฿1.17 | ฿1.19 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Thachang Green Energy 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): 9.75%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 25.14%
- • Asset Turnover: 0.29x
- • Equity Multiplier: 1.33x
- Recent ROE (9.75%) is below the historical average (11.56%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | -0.79% | -196.10% | 0.00x | 2.65x | ฿-63.06 Million |
| 2018 | 12.97% | 31.75% | 0.19x | 2.16x | ฿19.94 Million |
| 2019 | 12.32% | 28.06% | 0.15x | 2.88x | ฿17.79 Million |
| 2020 | 18.97% | 23.58% | 0.26x | 3.06x | ฿78.92 Million |
| 2021 | 18.66% | 25.87% | 0.28x | 2.54x | ฿93.78 Million |
| 2022 | 10.33% | 23.07% | 0.28x | 1.60x | ฿6.91 Million |
| 2023 | 10.30% | 26.34% | 0.27x | 1.45x | ฿7.01 Million |
| 2024 | 9.75% | 25.14% | 0.29x | 1.33x | ฿-6.32 Million |
Industry Comparison
This section compares Thachang Green Energy PCL's net assets metrics with peer companies in the Utilities - Renewable industry.
Industry Context
- Industry: Utilities - Renewable
- Average net assets among peers: $7,074,167,484
- Average return on equity (ROE) among peers: 6.18%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Thachang Green Energy PCL (TGE) | ฿3.06 Billion | -0.79% | 0.28x | $19.61 Million |
| Asia Biomass Public Company Limited (ABM) | $142.62 Million | -4.32% | 3.60x | $1.48 Million |
| Absolute Clean Energy PCL (ACE) | $14.18 Billion | 9.04% | 0.41x | $77.52 Million |
| ABSOLUTE CLEAN ENERGY (ACE-R) | $276.78 Million | -1.23% | 37.38x | $79.91 Million |
| BBGI PCL (BBGI) | $6.50 Billion | 12.99% | 0.96x | $41.12 Million |
| BCPG Public Company Limited (BCPG) | $27.23 Billion | 7.39% | 1.16x | $229.34 Million |
| Clover Power PCL (CV) | $590.77 Million | 33.82% | 2.29x | $553.20K |
| Energy Absolute Public Company Limited (EA) | $19.52 Billion | 25.49% | 2.03x | $424.82 Million |
| Earth Tech Environment Public Company Limited (ETC) | $222.14 Million | -9.24% | 1.12x | $13.55 Million |
| Green Resources Public Company Limited (GREEN) | $767.18 Million | -4.00% | 0.36x | $7.02 Million |
| Meta Corporation Public Company Limited (META) | $1.31 Billion | -8.12% | 0.39x | $2.59 Million |