Turnkey Communication Services PCL
Turnkey Communication Services Public Company Limited provides design, installation, engineering, and trading services in the field of information and communication technology, and telecommunications in Thailand. The company operates through Distribution Business, Services Business, and Information Engineering Business segments. It offers services for telecom field, including network designs, tel… Read more
Turnkey Communication Services PCL (TKC) - Net Assets
Latest net assets as of September 2025: ฿4.11 Billion THB
Based on the latest financial reports, Turnkey Communication Services PCL (TKC) has net assets worth ฿4.11 Billion THB as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿6.50 Billion) and total liabilities (฿2.39 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 | ฿4.11 Billion |
| % of Total Assets | 63.21% |
| Annual Growth Rate | 43.64% |
| 5-Year Change | 526.84% |
| 10-Year Change | N/A |
| Growth Volatility | 132.99 |
Turnkey Communication Services PCL - Net Assets Trend (2016–2024)
This chart illustrates how Turnkey Communication Services 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 Turnkey Communication Services PCL (2016–2024)
The table below shows the annual net assets of Turnkey Communication Services PCL from 2016 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ฿4.06 Billion | +3.43% |
| 2023-12-31 | ฿3.93 Billion | +112.04% |
| 2022-12-31 | ฿1.85 Billion | +404.02% |
| 2021-12-31 | ฿367.27 Million | -43.29% |
| 2020-12-31 | ฿647.68 Million | +10.88% |
| 2019-12-31 | ฿584.14 Million | +105.06% |
| 2018-12-31 | ฿284.87 Million | +19.28% |
| 2017-12-31 | ฿238.82 Million | +6.63% |
| 2016-12-31 | ฿223.98 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Turnkey Communication Services 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 grown by 605.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿498.73 Million | 12.28% |
| Other Components | ฿3.56 Billion | 87.72% |
| Total Equity | ฿4.06 Billion | 100.00% |
Turnkey Communication Services PCL Competitors by Market Cap
The table below lists competitors of Turnkey Communication Services PCL ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
SYGNITY S.A. ZY 1
F:CPN
|
$41.74 Million |
|
MNC Vision Networks PT
JK:IPTV
|
$41.76 Million |
|
Embellence Group AB
ST:EMBELL
|
$41.76 Million |
|
PT Nusantara Sejahtera Raya Tbk
JK:CNMA
|
$41.76 Million |
|
Ind-Swift Laboratories Limited
NSE:INDSWFTLAB
|
$41.73 Million |
|
Origin Property PCL
BK:ORI
|
$41.73 Million |
|
RLAIF
OTCQB:RLAIF
|
$41.73 Million |
|
Propdo Ltd
TA:PRPD
|
$41.73 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Turnkey Communication Services PCL's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,924,545,038 to 4,062,088,805, a change of 137,543,767 (3.5%).
- Net income of 212,798,957 contributed positively to equity growth.
- Dividend payments of 60,000,000 reduced retained earnings.
- Other comprehensive income decreased equity by 30,000,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿212.80 Million | +5.24% |
| Dividends Paid | ฿60.00 Million | -1.48% |
| Other Comprehensive Income | ฿-30.00 Million | -0.74% |
| Other Changes | ฿14.74 Million | +0.36% |
| Total Change | ฿- | 3.50% |
Book Value vs Market Value Analysis
This analysis compares Turnkey Communication Services 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: 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 9.57x 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 |
|---|---|---|---|
| 2017-12-31 | ฿0.80 | ฿7.70 | x |
| 2018-12-31 | ฿0.96 | ฿7.70 | x |
| 2019-12-31 | ฿1.95 | ฿7.70 | x |
| 2020-12-31 | ฿2.16 | ฿7.70 | x |
| 2021-12-31 | ฿1.22 | ฿7.70 | x |
| 2022-12-31 | ฿6.24 | ฿7.70 | x |
| 2023-12-31 | ฿12.56 | ฿7.70 | x |
| 2024-12-31 | ฿10.16 | ฿7.70 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Turnkey Communication Services 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): 5.24%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 8.77%
- • Asset Turnover: 0.44x
- • Equity Multiplier: 1.36x
- Recent ROE (5.24%) is below the historical average (38.28%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | 42.99% | 7.31% | 0.52x | 11.25x | ฿79.64 Million |
| 2018 | 75.25% | 5.89% | 1.41x | 9.08x | ฿187.12 Million |
| 2019 | 72.43% | 8.62% | 1.82x | 4.63x | ฿364.49 Million |
| 2020 | 35.97% | 8.09% | 1.24x | 3.60x | ฿168.12 Million |
| 2021 | 54.81% | 9.16% | 1.51x | 3.97x | ฿164.22 Million |
| 2022 | 13.14% | 9.89% | 0.94x | 1.42x | ฿58.12 Million |
| 2023 | 6.40% | 6.51% | 0.74x | 1.33x | ฿-141.18 Million |
| 2024 | 5.24% | 8.77% | 0.44x | 1.36x | ฿-193.41 Million |
Industry Comparison
This section compares Turnkey Communication Services PCL's net assets metrics with peer companies in the Engineering & Construction industry.
Industry Context
- Industry: Engineering & Construction
- Average net assets among peers: $3,635,753,561
- Average return on equity (ROE) among peers: 5.36%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Turnkey Communication Services PCL (TKC) | ฿4.11 Billion | 42.99% | 0.58x | $41.73 Million |
| AMR Asia Public Company Limited (AMR) | $885.39 Million | -12.37% | 0.82x | $2.67 Million |
| Asia Precision Public Company Limited (APCS) | $809.04 Million | -8.74% | 0.50x | $12.58 Million |
| CAZ (Thailand) Public Company Limited (CAZ) | $77.07 Million | 19.04% | 2.60x | $4.97 Million |
| Civil Engineering PCL (CIVIL) | $772.10 Million | 24.95% | 7.45x | $4.32 Million |
| CH. Karnchang PCL (CK) | $25.83 Billion | 9.66% | 2.23x | $492.20 Million |
| CH. Karnchang Public Company Limited (CK-R) | $4.32 Billion | 6.60% | 2.55x | $521.92 Million |
| Christiani & Nielsen (Thai) Public Company Limited (CNT) | $1.24 Billion | 0.31% | 1.70x | $8.20 Million |
| Chiangmai Rimdoi Public Company Limited (CRD) | $356.04 Million | -4.00% | 2.34x | $1.70 Million |
| Demco Public Company Limited (DEMCO) | $1.05 Billion | 8.50% | 0.87x | $19.24 Million |
| EMC Public Company Limited (EMC) | $1.02 Billion | 9.69% | 0.99x | $3.14 Million |