Ratchthani Leasing Public Company Limited (THANI) - Net Assets

Latest as of December 2025: ฿14.07 Billion THB ≈ $438.68 Million USD

Based on the latest financial reports, Ratchthani Leasing Public Company Limited (THANI) has net assets worth ฿14.07 Billion THB (≈ $438.68 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿40.97 Billion ≈ $1.28 Billion USD) and total liabilities (฿26.90 Billion ≈ $838.32 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 THANI financial resilience to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	฿14.07 Billion
% of Total Assets	34.35%
Annual Growth Rate	15.87%
5-Year Change	21.68%
10-Year Change	180.96%
Growth Volatility	15.41

Ratchthani Leasing Public Company Limited - Net Assets Trend (2006–2025)

This chart illustrates how Ratchthani Leasing Public Company Limited's net assets have evolved over time, based on quarterly financial data. Also explore balance sheet size of Ratchthani Leasing Public Company Limite for the complete picture of this company's asset base.

Annual Net Assets for Ratchthani Leasing Public Company Limited (2006–2025)

The table below shows the annual net assets of Ratchthani Leasing Public Company Limited from 2006 to 2025. For live valuation and market cap data, see how much is Ratchthani Leasing Public Company Limite worth.

Year	Net Assets	Change
2025-12-31	฿14.07 Billion ≈ $438.68 Million	+5.31%
2024-12-31	฿13.36 Billion ≈ $416.55 Million	+5.35%
2023-12-31	฿12.68 Billion ≈ $395.38 Million	+2.62%
2022-12-31	฿12.36 Billion ≈ $385.28 Million	+6.87%
2021-12-31	฿11.57 Billion ≈ $360.52 Million	+6.91%
2020-12-31	฿10.82 Billion ≈ $337.21 Million	+41.03%
2019-12-31	฿7.67 Billion ≈ $239.10 Million	+6.62%
2018-12-31	฿7.19 Billion ≈ $224.26 Million	+27.86%
2017-12-31	฿5.63 Billion ≈ $175.40 Million	+12.33%
2016-12-31	฿5.01 Billion ≈ $156.14 Million	+9.75%
2015-12-31	฿4.56 Billion ≈ $142.26 Million	+17.66%
2014-12-31	฿3.88 Billion ≈ $120.91 Million	+20.34%
2013-12-31	฿3.22 Billion ≈ $100.47 Million	+28.72%
2012-12-31	฿2.50 Billion ≈ $78.05 Million	+18.00%
2011-12-31	฿2.12 Billion ≈ $66.15 Million	+65.84%
2010-12-31	฿1.28 Billion ≈ $39.89 Million	+11.32%
2009-12-31	฿1.15 Billion ≈ $35.83 Million	+23.97%
2008-12-31	฿927.28 Million ≈ $28.90 Million	+3.56%
2007-12-31	฿895.38 Million ≈ $27.91 Million	+4.49%
2006-12-31	฿856.92 Million ≈ $26.71 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Ratchthani Leasing 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 6938.6% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	฿6.90 Billion	49.01%
Other Components	฿7.18 Billion	50.99%
Total Equity	฿14.07 Billion	100.00%

Ratchthani Leasing Public Company Limited Competitors by Market Cap

The table below lists competitors of Ratchthani Leasing Public Company Limited ranked by their market capitalization.

Company	Market Cap
Mount Gibson Iron Ltd AU:MGX	$334.09 Million
Motech Industries Co Ltd TWO:6244	$334.11 Million
Onity Group Inc. NYSE:ONIT	$334.39 Million
Ascencio (D) BR:ASCE	$334.42 Million
Samudera Indonesia Tbk JK:SMDR	$333.92 Million
Sarana Meditama Metropolitan JK:SAME	$333.92 Million
T&L Co. Ltd KQ:340570	$333.87 Million
Regional Management Corp NYSE:RM	$333.82 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Ratchthani Leasing Public Company Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 13,364,124,020 to 14,074,323,648, a change of 710,199,628 (5.3%).
Net income of 1,147,837,427 contributed positively to equity growth.
Dividend payments of 436,045,567 reduced retained earnings.
Other comprehensive income decreased equity by 627,000,000.
Other factors increased equity by 625,407,768.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	฿1.15 Billion	+8.16%
Dividends Paid	฿436.05 Million	-3.1%
Other Comprehensive Income	฿-627.00 Million	-4.45%
Other Changes	฿625.41 Million	+4.44%
Total Change	฿-	5.31%

Book Value vs Market Value Analysis

This analysis compares Ratchthani Leasing 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: 0.76x
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 2.92x to 0.76x 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	฿0.59	฿1.72	x
2007-12-31	฿0.48	฿1.72	x
2008-12-31	฿0.49	฿1.72	x
2009-12-31	฿0.60	฿1.72	x
2010-12-31	฿0.50	฿1.72	x
2011-12-31	฿0.77	฿1.72	x
2012-12-31	฿0.66	฿1.72	x
2013-12-31	฿0.85	฿1.72	x
2014-12-31	฿1.03	฿1.72	x
2015-12-31	฿1.21	฿1.72	x
2016-12-31	฿1.31	฿1.72	x
2017-12-31	฿1.50	฿1.72	x
2018-12-31	฿1.91	฿1.72	x
2019-12-31	฿1.38	฿1.72	x
2020-12-31	฿2.13	฿1.72	x
2021-12-31	฿1.86	฿1.72	x
2022-12-31	฿1.98	฿1.72	x
2023-12-31	฿2.04	฿1.72	x
2024-12-31	฿2.15	฿1.72	x
2025-12-31	฿2.26	฿1.72	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Ratchthani Leasing 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): 8.16%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 35.66%
• Asset Turnover: 0.08x
• Equity Multiplier: 2.91x
Recent ROE (8.16%) is below the historical average (14.42%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2006	4.27%	15.68%	0.13x	2.17x	฿-49.10 Million
2007	7.27%	22.03%	0.10x	3.19x	฿-24.41 Million
2008	7.75%	16.14%	0.09x	5.34x	฿-20.84 Million
2009	9.52%	16.68%	0.10x	5.95x	฿-5.47 Million
2010	15.96%	22.93%	0.09x	7.46x	฿76.23 Million
2011	9.65%	19.69%	0.08x	5.82x	฿-7.35 Million
2012	19.54%	33.24%	0.08x	7.67x	฿238.94 Million
2013	23.40%	32.90%	0.08x	8.47x	฿431.91 Million
2014	18.15%	27.14%	0.09x	7.18x	฿316.18 Million
2015	16.40%	28.82%	0.09x	6.46x	฿292.24 Million
2016	17.59%	31.95%	0.08x	6.66x	฿380.22 Million
2017	20.01%	36.76%	0.08x	7.02x	฿563.08 Million
2018	22.80%	46.29%	0.07x	6.61x	฿921.21 Million
2019	25.60%	50.78%	0.08x	6.63x	฿1.20 Billion
2020	17.19%	48.55%	0.08x	4.48x	฿778.34 Million
2021	14.78%	44.86%	0.08x	4.26x	฿552.53 Million
2022	14.18%	44.04%	0.07x	4.36x	฿516.62 Million
2023	10.15%	54.12%	0.04x	4.36x	฿18.43 Million
2024	5.99%	21.36%	0.07x	3.83x	฿-536.20 Million
2025	8.16%	35.66%	0.08x	2.91x	฿-259.59 Million

Industry Comparison

This section compares Ratchthani Leasing Public Company Limited's net assets metrics with peer companies in the Credit Services industry.

Industry Context

Industry: Credit Services
Average net assets among peers: $2,277,901,522
Average return on equity (ROE) among peers: 13.71%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Ratchthani Leasing Public Company Limited (THANI)	฿14.07 Billion	4.27%	1.91x	$333.96 Million
ASIA Capital Group Public Company Limited (ACAP)	$1.25 Billion	20.47%	2.85x	$4.18 Million
AEON Thana Sinsap (Thailand) Public Company Limited (AEONTS)	$4.66 Billion	25.18%	5.75x	$731.60 Million
AIRA Factoring Public Company Limited (AF)	$332.27 Million	15.44%	3.78x	$17.95 Million
Amanah Leasing Public Company Limited (AMANAH)	$1.30 Billion	0.14%	0.02x	$23.62 Million
Asia Sermkij Leasing Public Company Limited (ASK)	$1.58 Billion	7.52%	4.99x	$198.53 Million
Eastern Commercial Leasing Public Company Limited (ECL)	$228.53 Million	5.18%	2.63x	$29.03 Million
G Capital Public Company Limited (GCAP)	$348.56 Million	15.75%	4.99x	$4.05 Million
IFS Capital (Thailand) Public Company Limited (IFS)	$827.31 Million	8.20%	1.73x	$28.30 Million
JMT Network Services Public Company Limited (JMT)	$1.94 Billion	15.00%	1.15x	$445.89 Million
Krungthai Card PCL (KTC)	$10.32 Billion	24.17%	5.62x	$2.35 Billion

About Ratchthani Leasing Public Company Limited

BK:THANI Thailand Credit Services

Market Cap

$333.96 Million

฿10.71 Billion THB

Market Cap Rank

#14509 Global

#154 in Thailand

Share Price

฿1.72

Change (1 day)

+2.38%

52-Week Range

฿1.39 - ฿1.98

All Time High

฿207.72