Thanasiri Group Public Company Limited (THANA) - Net Assets
Based on the latest financial reports, Thanasiri Group Public Company Limited (THANA) has net assets worth ฿559.53 Million THB (≈ $17.44 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿1.14 Billion ≈ $35.51 Million USD) and total liabilities (฿579.66 Million ≈ $18.07 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 THANA asset liquidity ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ฿559.53 Million |
| % of Total Assets | 49.12% |
| Annual Growth Rate | 2.27% |
| 5-Year Change | 49.07% |
| 10-Year Change | 23.43% |
| Growth Volatility | 11.05 |
Thanasiri Group Public Company Limited - Net Assets Trend (2010–2024)
This chart illustrates how Thanasiri Group Public Company Limited's net assets have evolved over time, based on quarterly financial data. Also explore Thanasiri Group Public Company Limited asset portfolio for the complete picture of this company's asset base.
Annual Net Assets for Thanasiri Group Public Company Limited (2010–2024)
The table below shows the annual net assets of Thanasiri Group Public Company Limited from 2010 to 2024. For live valuation and market cap data, see market value of Thanasiri Group Public Company Limited.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ฿574.19 Million ≈ $17.90 Million |
+2.80% |
| 2023-12-31 | ฿558.54 Million ≈ $17.41 Million |
+1.99% |
| 2022-12-31 | ฿547.62 Million ≈ $17.07 Million |
+33.26% |
| 2021-12-31 | ฿410.93 Million ≈ $12.81 Million |
+6.69% |
| 2020-12-31 | ฿385.18 Million ≈ $12.01 Million |
-5.29% |
| 2019-12-31 | ฿406.67 Million ≈ $12.68 Million |
-13.72% |
| 2018-12-31 | ฿471.37 Million ≈ $14.69 Million |
-4.30% |
| 2017-12-31 | ฿492.52 Million ≈ $15.35 Million |
+6.94% |
| 2016-12-31 | ฿460.54 Million ≈ $14.35 Million |
-1.00% |
| 2015-12-31 | ฿465.18 Million ≈ $14.50 Million |
+8.69% |
| 2014-12-31 | ฿427.99 Million ≈ $13.34 Million |
+4.86% |
| 2013-12-31 | ฿408.16 Million ≈ $12.72 Million |
+12.72% |
| 2012-12-31 | ฿362.10 Million ≈ $11.29 Million |
-4.42% |
| 2011-12-31 | ฿378.83 Million ≈ $11.81 Million |
-9.71% |
| 2010-12-31 | ฿419.57 Million ≈ $13.08 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Thanasiri Group 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 42.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿192.72 Million | 33.55% |
| Common Stock | ฿277.38 Million | 48.28% |
| Other Comprehensive Income | ฿24.26 Million | 4.22% |
| Other Components | ฿80.15 Million | 13.95% |
| Total Equity | ฿574.51 Million | 100.00% |
Thanasiri Group Public Company Limited Competitors by Market Cap
The table below lists competitors of Thanasiri Group Public Company Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Trust Stamp Inc
NASDAQ:IDAI
|
$13.15 Million |
|
Avicanna Inc
TO:AVCN
|
$13.17 Million |
|
Income Asset Management Group Ltd
AU:IAM
|
$13.17 Million |
|
Decade Resources Ltd
V:DEC
|
$13.18 Million |
|
Trematon Capital Investments
JSE:TMT
|
$13.14 Million |
|
Euro Manganese Inc
AU:EMN
|
$13.14 Million |
|
High Coast Distillery AB
ST:HIGHCO-B
|
$13.13 Million |
|
WooGene B&G Co. Ltd
KQ:018620
|
$13.13 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Thanasiri Group Public Company Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 554,988,500 to 574,509,770, a change of 19,521,270 (3.5%).
- Net income of 34,222,128 contributed positively to equity growth.
- Dividend payments of 14,689,266 reduced retained earnings.
- Other comprehensive income increased equity by 2,385,780.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿34.22 Million | +5.96% |
| Dividends Paid | ฿14.69 Million | -2.56% |
| Other Comprehensive Income | ฿2.39 Million | +0.42% |
| Other Changes | ฿-2.40 Million | -0.42% |
| Total Change | ฿- | 3.52% |
Book Value vs Market Value Analysis
This analysis compares Thanasiri Group 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: 0.73x
- 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 0.91x to 0.73x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2010-12-31 | ฿1.67 | ฿1.52 | x |
| 2011-12-31 | ฿1.52 | ฿1.52 | x |
| 2012-12-31 | ฿1.45 | ฿1.52 | x |
| 2013-12-31 | ฿1.62 | ฿1.52 | x |
| 2014-12-31 | ฿1.66 | ฿1.52 | x |
| 2015-12-31 | ฿1.72 | ฿1.52 | x |
| 2016-12-31 | ฿1.71 | ฿1.52 | x |
| 2017-12-31 | ฿1.83 | ฿1.52 | x |
| 2018-12-31 | ฿1.76 | ฿1.52 | x |
| 2019-12-31 | ฿1.52 | ฿1.52 | x |
| 2020-12-31 | ฿1.46 | ฿1.52 | x |
| 2021-12-31 | ฿1.57 | ฿1.52 | x |
| 2022-12-31 | ฿2.10 | ฿1.52 | x |
| 2023-12-31 | ฿2.00 | ฿1.52 | x |
| 2024-12-31 | ฿2.07 | ฿1.52 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Thanasiri Group 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): 5.96%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.31%
- • Asset Turnover: 0.43x
- • Equity Multiplier: 2.20x
- Recent ROE (5.96%) is above the historical average (3.86%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2010 | 26.03% | 11.55% | 1.04x | 2.16x | ฿67.24 Million |
| 2011 | 2.43% | 1.48% | 0.45x | 3.69x | ฿-28.67 Million |
| 2012 | -4.80% | -2.40% | 0.54x | 3.73x | ฿-53.59 Million |
| 2013 | 8.97% | 5.04% | 0.58x | 3.08x | ฿-4.19 Million |
| 2014 | 1.74% | 1.10% | 0.51x | 3.06x | ฿-34.55 Million |
| 2015 | 3.98% | 2.05% | 0.68x | 2.85x | ฿-26.17 Million |
| 2016 | 4.06% | 2.23% | 0.54x | 3.40x | ฿-25.66 Million |
| 2017 | 7.29% | 4.08% | 0.70x | 2.54x | ฿-12.60 Million |
| 2018 | -3.93% | -3.16% | 0.56x | 2.20x | ฿-62.22 Million |
| 2019 | -16.76% | -16.50% | 0.47x | 2.17x | ฿-103.30 Million |
| 2020 | -5.82% | -6.36% | 0.52x | 1.77x | ฿-58.44 Million |
| 2021 | 5.77% | 8.02% | 0.29x | 2.45x | ฿-16.87 Million |
| 2022 | 15.64% | 12.23% | 0.63x | 2.04x | ฿30.44 Million |
| 2023 | 7.36% | 8.80% | 0.33x | 2.55x | ฿-14.63 Million |
| 2024 | 5.96% | 6.31% | 0.43x | 2.20x | ฿-23.23 Million |
Industry Comparison
This section compares Thanasiri Group Public Company Limited's net assets metrics with peer companies in the Real Estate - Development industry.
Industry Context
- Industry: Real Estate - Development
- Average net assets among peers: $12,160,492,474
- Average return on equity (ROE) among peers: -0.70%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Thanasiri Group Public Company Limited (THANA) | ฿559.53 Million | 26.03% | 1.04x | $13.14 Million |
| Areeya Property Public Company Limited (A) | $3.33 Billion | 0.92% | 3.29x | $147.84 Million |
| Amata Corporation Public Company Limited (AMATA) | $18.75 Billion | 5.88% | 1.14x | $738.40 Million |
| Amata Corporation Public Company Limited (AMATA-R) | $24.41 Billion | 9.59% | 0.95x | $605.77 Million |
| Ananda Development Public Company Limited (ANAN) | $18.47 Billion | 3.81% | 1.64x | $45.45 Million |
| AP (Thailand) Public Company Limited (AP) | $43.64 Billion | 11.50% | 0.95x | $843.27 Million |
| Baan Rock Garden Public Company Limited (BROCK) | $1.24 Billion | 0.67% | 0.02x | $40.57 Million |
| Country Group Development Public Company Limited (CGD) | $4.45 Billion | -5.66% | 2.70x | $30.92 Million |
| Chewathai Public Company Limited (CHEWA) | $1.14 Billion | -36.18% | 2.64x | $6.76 Million |
| Charn Issara Development Public Company Limited (CI) | $1.25 Billion | -1.42% | 1.89x | $10.31 Million |
| Eastern Star Real Estate Public Company Limited (ESTAR) | $4.92 Billion | 3.84% | 0.47x | $37.57 Million |
About Thanasiri Group Public Company Limited
Thanasiri Group Public Company Limited, together with its subsidiaries, develops and sells real estate properties in Thailand. It provides housing services. The company was formerly known as Thanasiri Baan Lae Suan Company Limited and changed its name to Thanasiri Group Public Company Limited in April 2009. Thanasiri Group Public Company Limited was incorporated in 1985 and is based in Bangkok, T… Read more