Thonburi Healthcare Grp Pcl (THG) - Net Assets

Latest as of December 2025: ฿14.53 Billion THB ≈ $452.96 Million USD

Based on the latest financial reports, Thonburi Healthcare Grp Pcl (THG) has net assets worth ฿14.53 Billion THB (≈ $452.96 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 (฿20.45 Billion ≈ $637.42 Million USD) and total liabilities (฿5.92 Billion ≈ $184.45 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 THG cash and liquid asset ratio to evaluate the company's liquid asset resilience ratio.

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. Also explore THG total asset value for the complete picture of this company's asset base.

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. For live valuation and market cap data, see market value of Thonburi Healthcare Grp Pcl.

Year	Net Assets	Change
2025-12-31	฿14.53 Billion ≈ $452.96 Million	+75.92%
2024-12-31	฿8.26 Billion ≈ $257.48 Million	-23.34%
2023-12-31	฿10.78 Billion ≈ $335.89 Million	-3.58%
2022-12-31	฿11.18 Billion ≈ $348.35 Million	+16.20%
2021-12-31	฿9.62 Billion ≈ $299.78 Million	+15.45%
2020-12-31	฿8.33 Billion ≈ $259.67 Million	-5.13%
2019-12-31	฿8.78 Billion ≈ $273.71 Million	+0.64%
2018-12-31	฿8.73 Billion ≈ $271.98 Million	+0.70%
2017-12-31	฿8.66 Billion ≈ $270.07 Million	+68.07%
2016-12-31	฿5.16 Billion ≈ $160.70 Million	+155.55%
2015-12-31	฿2.02 Billion ≈ $62.88 Million	+19.45%
2014-12-31	฿1.69 Billion ≈ $52.64 Million	--

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
RPG Life Sciences Limited NSE:RPGLIFE	$440.56 Million
Inzone Group Co Ltd SHG:600858	$440.63 Million
San Fu Chemical Co Ltd TW:4755	$441.02 Million
HiVi Acoustics Technology Co Ltd SHE:002888	$441.17 Million
Shenzhen Glory Medical Co Ltd SHE:002551	$440.45 Million
Qingdao Foods Co Ltd SHE:001219	$440.25 Million
AGI Greenpac Limited NSE:AGI	$440.24 Million
Aydem Yenilenebilir Enerji AS IS:AYDEM	$439.91 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: 1.05x
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 4.73x to 1.05x 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	฿7.90	x
2015-12-31	฿2.15	฿7.90	x
2016-12-31	฿6.66	฿7.90	x
2017-12-31	฿10.89	฿7.90	x
2018-12-31	฿9.68	฿7.90	x
2019-12-31	฿9.77	฿7.90	x
2020-12-31	฿9.33	฿7.90	x
2021-12-31	฿10.84	฿7.90	x
2022-12-31	฿12.01	฿7.90	x
2023-12-31	฿11.46	฿7.90	x
2024-12-31	฿8.53	฿7.90	x
2025-12-31	฿7.51	฿7.90	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: $11,476,741,011
Average return on equity (ROE) among peers: 16.67%

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	$440.55 Million
Aikchol Hospital Public Company Limited (AHC)	$2.07 Billion	13.11%	0.19x	$56.54 Million
Bangkok Chain Hospital Public Company Limited (BCH)	$4.67 Billion	11.18%	1.14x	$722.94 Million
Bangkok Chain Hospital Public Company Limited (BCH-R)	$4.92 Billion	10.71%	1.15x	$1.03 Billion
Bangkok Dusit Medical Services Public Company Limited (BDMS)	$56.18 Billion	14.09%	0.82x	$9.11 Billion
Bumrungrad Hospital PCL (BH)	$20.01 Billion	24.68%	0.21x	$4.42 Billion
Bumrungrad Hospital Public Company Limited (BH-R)	$5.47 Billion	22.76%	0.57x	$4.61 Billion
Chularat Hospital Public Company Limited (CHG)	$7.84 Billion	53.62%	0.35x	$480.00 Million
Chularat Hospital Public Company Limited (CHG-R)	$7.93 Billion	13.19%	0.29x	$589.72 Million
Chiang Mai Ram Medical Business Public Company Limited (CMR)	$5.30 Billion	7.32%	0.58x	$163.69 Million
Dental Corporation Public Company Limited (D)	$389.04 Million	-4.01%	1.77x	$29.86 Million

About Thonburi Healthcare Grp Pcl

BK:THG Thailand Medical Care Facilities

Market Cap

$440.55 Million

฿14.13 Billion THB

Market Cap Rank

#13262 Global

#137 in Thailand

Share Price

฿7.90

Change (1 day)

+0.00%

52-Week Range

฿6.25 - ฿9.70

All Time High

฿96.72