Thonburi Healthcare Grp Pcl
Thonburi Healthcare Group Public Company Limited, together with its subsidiaries, engages in the operation of hospitals in Thailand and Singapore. It operates through six segments: Hospital Operations, Hospital Management, Healthcare Solution Provider, Development and Sales of Hospital Operation Software, Property Development, and Holding. The company offers medical services for various fields, i… Read more
Thonburi Healthcare Grp Pcl (THG) - Net Assets
Latest net assets as of December 2025: ฿14.53 Billion THB
Based on the latest financial reports, Thonburi Healthcare Grp Pcl (THG) has net assets worth ฿14.53 Billion THB as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿20.45 Billion) and total liabilities (฿5.92 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 | ฿14.53 Billion |
| % of Total Assets | 71.06% |
| Annual Growth Rate | 21.61% |
| 5-Year Change | 51.1% |
| 10-Year Change | 181.88% |
| Growth Volatility | 49.32 |
Thonburi Healthcare Grp Pcl - Net Assets Trend (2014–2025)
This chart illustrates how Thonburi Healthcare Grp 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 Thonburi Healthcare Grp Pcl (2014–2025)
The table below shows the annual net assets of Thonburi Healthcare Grp Pcl from 2014 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ฿14.53 Billion | +75.92% |
| 2024-12-31 | ฿8.26 Billion | -23.34% |
| 2023-12-31 | ฿10.78 Billion | -3.58% |
| 2022-12-31 | ฿11.18 Billion | +16.20% |
| 2021-12-31 | ฿9.62 Billion | +15.45% |
| 2020-12-31 | ฿8.33 Billion | -5.13% |
| 2019-12-31 | ฿8.78 Billion | +0.64% |
| 2018-12-31 | ฿8.73 Billion | +0.70% |
| 2017-12-31 | ฿8.66 Billion | +68.07% |
| 2016-12-31 | ฿5.16 Billion | +155.55% |
| 2015-12-31 | ฿2.02 Billion | +19.45% |
| 2014-12-31 | ฿1.69 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Thonburi Healthcare Grp 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 34.8% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿698.79 Million | 5.20% |
| Other Components | ฿12.74 Billion | 94.80% |
| Total Equity | ฿13.44 Billion | 100.00% |
Thonburi Healthcare Grp Pcl Competitors by Market Cap
The table below lists competitors of Thonburi Healthcare Grp Pcl ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shenzhen Weiguang Biological Products Co Ltd
SHE:002880
|
$228.11 Million |
|
China Railway Harbin Group of Technology Corp. A
SHG:688459
|
$228.17 Million |
|
Gladstone Land Corporation 6.00% Series C Cumulative Redeemable Preferred Stock
NASDAQ:LANDP
|
$228.25 Million |
|
Relaxo Footwears Limited
NSE:RELAXO
|
$228.32 Million |
|
MBK Public Company Limited
BK:MBK
|
$228.06 Million |
|
Pico Far East Holdings Limited
F:PJFB
|
$228.04 Million |
|
Advanced International Multitech Co Ltd
TWO:8938
|
$228.02 Million |
|
The Star Entertainment Group Limited
PINK:EHGRF
|
$228.00 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Thonburi Healthcare Grp Pcl's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 7,233,004,863 to 13,435,448,447, a change of 6,202,443,584 (85.8%).
- Net income of 96,220,060 contributed positively to equity growth.
- Dividend payments of 917,454 reduced retained earnings.
- New share issuances of 6,279,759,800 increased equity.
- Other factors decreased equity by 172,618,822.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿96.22 Million | +0.72% |
| Dividends Paid | ฿917.45K | -0.01% |
| Share Issuances | ฿6.28 Billion | +46.74% |
| Other Changes | ฿-172.62 Million | -1.28% |
| Total Change | ฿- | 85.75% |
Book Value vs Market Value Analysis
This analysis compares Thonburi Healthcare Grp 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: 1.13x
- 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 5.06x to 1.13x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2014-12-31 | ฿1.67 | ฿8.45 | x |
| 2015-12-31 | ฿2.15 | ฿8.45 | x |
| 2016-12-31 | ฿6.66 | ฿8.45 | x |
| 2017-12-31 | ฿10.89 | ฿8.45 | x |
| 2018-12-31 | ฿9.68 | ฿8.45 | x |
| 2019-12-31 | ฿9.77 | ฿8.45 | x |
| 2020-12-31 | ฿9.33 | ฿8.45 | x |
| 2021-12-31 | ฿10.84 | ฿8.45 | x |
| 2022-12-31 | ฿12.01 | ฿8.45 | x |
| 2023-12-31 | ฿11.46 | ฿8.45 | x |
| 2024-12-31 | ฿8.53 | ฿8.45 | x |
| 2025-12-31 | ฿7.51 | ฿8.45 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Thonburi Healthcare Grp 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): 0.72%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.06%
- • Asset Turnover: 0.44x
- • Equity Multiplier: 1.52x
- Recent ROE (0.72%) is below the historical average (8.75%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2014 | 37.96% | 9.76% | 0.86x | 4.50x | ฿396.44 Million |
| 2015 | 30.24% | 9.54% | 0.79x | 4.03x | ฿369.35 Million |
| 2016 | 10.35% | 8.21% | 0.60x | 2.12x | ฿17.40 Million |
| 2017 | 6.59% | 8.38% | 0.47x | 1.67x | ฿-286.48 Million |
| 2018 | 4.23% | 4.90% | 0.40x | 2.18x | ฿-474.09 Million |
| 2019 | 5.57% | 5.62% | 0.41x | 2.45x | ฿-367.18 Million |
| 2020 | 0.29% | 0.31% | 0.36x | 2.57x | ฿-766.69 Million |
| 2021 | 14.62% | 12.33% | 0.46x | 2.60x | ฿422.69 Million |
| 2022 | 15.74% | 13.88% | 0.46x | 2.46x | ฿583.87 Million |
| 2023 | 3.04% | 3.00% | 0.42x | 2.43x | ฿-675.49 Million |
| 2024 | -24.40% | -18.61% | 0.45x | 2.89x | ฿-2.49 Billion |
| 2025 | 0.72% | 1.06% | 0.44x | 1.52x | ฿-1.25 Billion |
Industry Comparison
This section compares Thonburi Healthcare Grp Pcl's net assets metrics with peer companies in the Medical Care Facilities industry.
Industry Context
- Industry: Medical Care Facilities
- Average net assets among peers: $2,892,225,945
- Average return on equity (ROE) among peers: 25.66%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Thonburi Healthcare Grp Pcl (THG) | ฿14.53 Billion | 37.96% | 0.41x | $228.08 Million |
| Aikchol Hospital Public Company Limited (AHC) | $1.55 Billion | 9.07% | 0.19x | $29.59 Million |
| Bangkok Chain Hospital Public Company Limited (BCH-R) | $6.40 Billion | 17.03% | 0.97x | $429.99 Million |
| Bumrungrad Hospital PCL (BH) | $13.10 Billion | 26.23% | 0.63x | $3.50 Billion |
| Chularat Hospital Public Company Limited (CHG) | $1.12 Billion | 29.84% | 0.38x | $205.50 Million |
| Chiang Mai Ram Medical Business Public Company Limited (CMR) | $5.27 Billion | 8.36% | 0.67x | $21.67 Million |
| Dental Corporation Public Company Limited (D) | $106.33 Million | 39.99% | 1.05x | $9.07 Million |
| Ekachai Medical Care Public Company Limited (EKH) | $953.94 Million | 16.80% | 0.15x | $56.66 Million |
| Genesis Fertility Center Public Company Limited (GFC) | $123.73 Million | 56.28% | 0.53x | $4.77 Million |
| Mukdahan International Hospital Public Company Limited (HANN) | $176.84 Million | 15.70% | 0.95x | $5.00 Million |
| Intermedical Care and Lab Hospital Public Company Limited (IMH) | $123.08 Million | 37.33% | 0.31x | $7.20 Million |