Thantawan Industry Public Company Limited (THIP) - Net Assets

Latest as of December 2025: ฿2.81 Billion THB ≈ $87.44 Million USD

Based on the latest financial reports, Thantawan Industry Public Company Limited (THIP) has net assets worth ฿2.81 Billion THB (≈ $87.44 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 (฿4.35 Billion ≈ $135.74 Million USD) and total liabilities (฿1.55 Billion ≈ $48.29 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 THIP asset liquidity ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	฿2.81 Billion
% of Total Assets	64.42%
Annual Growth Rate	8.21%
5-Year Change	21.27%
10-Year Change	108.75%
Growth Volatility	6.41

Thantawan Industry Public Company Limited - Net Assets Trend (2000–2025)

This chart illustrates how Thantawan Industry Public Company Limited's net assets have evolved over time, based on quarterly financial data. Also explore THIP current and non-current assets for the complete picture of this company's asset base.

Annual Net Assets for Thantawan Industry Public Company Limited (2000–2025)

The table below shows the annual net assets of Thantawan Industry Public Company Limited from 2000 to 2025. For live valuation and market cap data, see Thantawan Industry Public Company Limite market capitalisation.

Year	Net Assets	Change
2025-12-31	฿2.81 Billion ≈ $87.44 Million	+1.45%
2024-12-31	฿2.77 Billion ≈ $86.20 Million	+4.62%
2023-12-31	฿2.64 Billion ≈ $82.39 Million	+5.09%
2022-12-31	฿2.52 Billion ≈ $78.40 Million	+8.72%
2021-12-31	฿2.31 Billion ≈ $72.11 Million	+14.86%
2020-12-31	฿2.01 Billion ≈ $62.78 Million	+11.38%
2019-12-31	฿1.81 Billion ≈ $56.36 Million	+8.61%
2018-12-31	฿1.66 Billion ≈ $51.89 Million	+10.48%
2017-12-31	฿1.51 Billion ≈ $46.97 Million	+12.13%
2016-12-31	฿1.34 Billion ≈ $41.89 Million	+21.14%
2015-12-31	฿1.11 Billion ≈ $34.58 Million	+21.61%
2014-12-31	฿912.29 Million ≈ $28.44 Million	+9.06%
2013-12-31	฿836.48 Million ≈ $26.07 Million	+11.38%
2012-12-31	฿751.03 Million ≈ $23.41 Million	+10.45%
2011-12-31	฿679.99 Million ≈ $21.19 Million	+5.14%
2010-12-31	฿646.77 Million ≈ $20.16 Million	+6.10%
2009-12-31	฿609.57 Million ≈ $19.00 Million	+11.14%
2008-12-31	฿548.47 Million ≈ $17.10 Million	+0.51%
2007-12-31	฿545.67 Million ≈ $17.01 Million	+5.46%
2006-12-31	฿517.43 Million ≈ $16.13 Million	+3.02%
2005-12-31	฿502.27 Million ≈ $15.66 Million	+20.41%
2004-12-31	฿417.15 Million ≈ $13.00 Million	-4.36%
2003-12-31	฿436.15 Million ≈ $13.59 Million	-1.10%
2002-12-31	฿441.02 Million ≈ $13.75 Million	+4.80%
2001-12-31	฿420.80 Million ≈ $13.12 Million	+7.88%
2000-12-31	฿390.08 Million ≈ $12.16 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Thantawan Industry 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 1388.8% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	฿2.58 Billion	91.95%
Other Components	฿225.74 Million	8.05%
Total Equity	฿2.81 Billion	100.00%

Thantawan Industry Public Company Limited Competitors by Market Cap

The table below lists competitors of Thantawan Industry Public Company Limited ranked by their market capitalization.

Company	Market Cap
Titanium Oyj HE:TITAN	$63.68 Million
Pesona Metro Holdings Bhd KLSE:8311	$63.69 Million
Chilwa Minerals Ltd AU:CHW	$63.71 Million
Asian Insulators PCL BK:AI	$63.71 Million
Brompton Lifeco Split Corp TO:LCS	$63.65 Million
A SPAC II Acquisition Corp. Ordinary Shares NASDAQ:ASCB	$63.65 Million
Beijing North Star Company Limited F:BJ3	$63.65 Million
Makarony Polskie S.A. WAR:MAK	$63.60 Million

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 2,765,481,165 to 2,805,485,966, a change of 40,004,801 (1.4%).
Net income of 206,685,958 contributed positively to equity growth.
Dividend payments of 144,749,936 reduced retained earnings.
Other comprehensive income decreased equity by 10,000,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	฿206.69 Million	+7.37%
Dividends Paid	฿144.75 Million	-5.16%
Other Comprehensive Income	฿-10.00 Million	-0.36%
Other Changes	฿-11.93 Million	-0.43%
Total Change	฿-	1.45%

Book Value vs Market Value Analysis

This analysis compares Thantawan Industry 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 4.35x 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
2006-12-31	฿5.22	฿22.70	x
2007-12-31	฿5.51	฿22.70	x
2008-12-31	฿5.54	฿22.70	x
2009-12-31	฿6.16	฿22.70	x
2010-12-31	฿6.53	฿22.70	x
2011-12-31	฿6.87	฿22.70	x
2012-12-31	฿7.59	฿22.70	x
2013-12-31	฿8.45	฿22.70	x
2014-12-31	฿9.22	฿22.70	x
2015-12-31	฿11.21	฿22.70	x
2016-12-31	฿13.58	฿22.70	x
2017-12-31	฿15.21	฿22.70	x
2018-12-31	฿16.82	฿22.70	x
2019-12-31	฿20.09	฿22.70	x
2020-12-31	฿22.38	฿22.70	x
2021-12-31	฿25.71	฿22.70	x
2022-12-31	฿27.95	฿22.70	x
2023-12-31	฿29.41	฿22.70	x
2024-12-31	฿30.77	฿22.70	x
2025-12-31	฿31.17	฿22.70	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Thantawan Industry 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): 7.37%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 4.28%
• Asset Turnover: 1.11x
• Equity Multiplier: 1.55x
Recent ROE (7.37%) is below the historical average (11.90%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2000	9.83%	5.09%	1.44x	1.34x	฿-645.50K
2001	9.68%	5.38%	1.44x	1.25x	฿-1.36 Million
2002	6.85%	4.34%	1.26x	1.25x	฿-13.89 Million
2003	0.72%	0.44%	1.34x	1.22x	฿-40.48 Million
2005	18.54%	11.60%	1.30x	1.23x	฿42.89 Million
2006	5.25%	3.17%	1.38x	1.20x	฿-24.59 Million
2007	6.64%	3.96%	1.47x	1.15x	฿-18.33 Million
2008	1.95%	1.08%	1.58x	1.14x	฿-44.17 Million
2009	10.68%	6.13%	1.41x	1.24x	฿4.13 Million
2010	8.24%	4.36%	1.54x	1.22x	฿-11.41 Million
2011	8.95%	4.31%	1.67x	1.25x	฿-7.12 Million
2012	12.12%	5.85%	1.69x	1.23x	฿15.94 Million
2013	13.25%	6.65%	1.57x	1.27x	฿27.23 Million
2014	13.16%	5.78%	1.76x	1.29x	฿28.82 Million
2015	21.76%	10.36%	1.65x	1.28x	฿130.50 Million
2016	24.11%	12.10%	1.51x	1.32x	฿189.63 Million
2017	18.38%	9.58%	1.47x	1.30x	฿126.26 Million
2018	15.52%	8.47%	1.48x	1.24x	฿91.90 Million
2019	13.52%	8.08%	1.37x	1.22x	฿63.69 Million
2020	17.27%	10.88%	1.27x	1.25x	฿146.39 Million
2021	16.55%	10.18%	1.27x	1.28x	฿151.47 Million
2022	14.43%	8.91%	1.35x	1.20x	฿111.53 Million
2023	10.91%	8.46%	1.08x	1.20x	฿24.18 Million
2024	11.90%	7.69%	1.14x	1.36x	฿52.44 Million
2025	7.37%	4.28%	1.11x	1.55x	฿-73.86 Million

Industry Comparison

This section compares Thantawan Industry Public Company Limited's net assets metrics with peer companies in the Packaging & Containers industry.

Industry Context

Industry: Packaging & Containers
Average net assets among peers: $1,538,007,826
Average return on equity (ROE) among peers: 6.86%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Thantawan Industry Public Company Limited (THIP)	฿2.81 Billion	9.83%	0.55x	$63.68 Million
A.J. Plast Public Company Limited (AJ)	$4.28 Billion	-12.92%	2.21x	$53.17 Million
Crown Seal Public Company Limited (CSC)	$443.56 Million	23.76%	3.81x	$68.48 Million
Multibax Public Company Limited (MBAX)	$594.89 Million	29.60%	1.43x	$10.66 Million
NEP Realty and Industry Public Company Limited (NEP)	$567.12 Million	-6.67%	0.06x	$14.50 Million
Prodigy Public Company Limited (PDG)	$626.18 Million	13.29%	0.19x	$28.33 Million
Panjawattana Plastic Public Company Limited (PJW)	$1.25 Billion	6.70%	1.51x	$37.55 Million
Srithai Superware Public Company Limited (SITHAI)	$4.08 Billion	6.91%	0.98x	$83.83 Million
S. Pack & Print Public Company Limited (SPACK)	$506.65 Million	-7.12%	1.49x	$10.66 Million
Thai Coating Industrial Public Company Limited (TCOAT)	$239.75 Million	15.05%	1.20x	$9.25 Million
Thai Film Industries Public Company Limited (TFI)	$2.79 Billion	0.00%	1.70x	$26.22 Million

About Thantawan Industry Public Company Limited

BK:THIP Thailand Packaging & Containers

Market Cap

$63.68 Million

฿2.04 Billion THB

Market Cap Rank

#20949 Global

#335 in Thailand

Share Price

฿22.70

Change (1 day)

+0.44%

52-Week Range

฿21.70 - ฿26.00

All Time High

฿749494.42