TOA Paint (Thailand) Public Company Limited (TOA) - Net Assets
Based on the latest financial reports, TOA Paint (Thailand) Public Company Limited (TOA) has net assets worth ฿14.40 Billion THB (≈ $448.70 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿20.61 Billion ≈ $642.55 Million USD) and total liabilities (฿6.22 Billion ≈ $193.85 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 TOA Paint (Thailand) Public Company Limi asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ฿14.40 Billion |
| % of Total Assets | 69.83% |
| Annual Growth Rate | 14.44% |
| 5-Year Change | 25.99% |
| 10-Year Change | 157.77% |
| Growth Volatility | 295.51 |
TOA Paint (Thailand) Public Company Limited - Net Assets Trend (2014–2024)
This chart illustrates how TOA Paint (Thailand) Public Company Limited's net assets have evolved over time, based on quarterly financial data. Also explore TOA Paint (Thailand) Public Company Limi balance sheet assets for the complete picture of this company's asset base.
Annual Net Assets for TOA Paint (Thailand) Public Company Limited (2014–2024)
The table below shows the annual net assets of TOA Paint (Thailand) Public Company Limited from 2014 to 2024. For live valuation and market cap data, see market cap of TOA Paint (Thailand) Public Company Limi.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ฿14.37 Billion ≈ $447.91 Million |
-3.02% |
| 2023-12-31 | ฿14.82 Billion ≈ $461.87 Million |
+9.89% |
| 2022-12-31 | ฿13.48 Billion ≈ $420.28 Million |
+8.30% |
| 2021-12-31 | ฿12.45 Billion ≈ $388.09 Million |
+9.17% |
| 2020-12-31 | ฿11.41 Billion ≈ $355.50 Million |
+7.46% |
| 2019-12-31 | ฿10.61 Billion ≈ $330.81 Million |
+13.34% |
| 2018-12-31 | ฿9.36 Billion ≈ $291.87 Million |
+11.30% |
| 2017-12-31 | ฿8.41 Billion ≈ $262.23 Million |
+981.34% |
| 2016-12-31 | ฿778.02 Million ≈ $24.25 Million |
-86.04% |
| 2015-12-31 | ฿5.57 Billion ≈ $173.76 Million |
+49.50% |
| 2014-12-31 | ฿3.73 Billion ≈ $116.23 Million |
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Equity Component Analysis
This analysis shows how different components contribute to TOA Paint (Thailand) 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 74.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿6.77 Billion | 49.54% |
| Other Components | ฿6.89 Billion | 50.46% |
| Total Equity | ฿13.66 Billion | 100.00% |
TOA Paint (Thailand) Public Company Limited Competitors by Market Cap
The table below lists competitors of TOA Paint (Thailand) Public Company Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
MBK Public Company Limited
BK:MBK
|
$749.27 Million |
|
Alpargatas S.A
SA:ALPA3
|
$749.45 Million |
|
Zhongzhu Medical Holdings Co Ltd
SHG:600568
|
$749.46 Million |
|
Shenzhen AV-Display Co. Ltd.
SHE:300939
|
$749.63 Million |
|
Jiangsu United Water Technology Co. Ltd. Cl A
SHG:603291
|
$748.74 Million |
|
Beijing Chunlizhengda Medical Instruments Co Ltd
SHG:688236
|
$748.52 Million |
|
Ningbo Bohui Chemical Technology
SHE:300839
|
$748.44 Million |
|
Impulse Qingdao Health Tech Co Ltd
SHE:002899
|
$748.31 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in TOA Paint (Thailand) Public Company Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 14,071,070,556 to 13,661,006,266, a change of -410,064,290 (-2.9%).
- Net income of 1,919,603,646 contributed positively to equity growth.
- Dividend payments of 1,247,949,908 reduced retained earnings.
- Share repurchases of 818,603,760 reduced equity.
- Other comprehensive income decreased equity by 202,900,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿1.92 Billion | +14.05% |
| Dividends Paid | ฿1.25 Billion | -9.14% |
| Share Repurchases | ฿818.60 Million | -5.99% |
| Other Comprehensive Income | ฿-202.90 Million | -1.49% |
| Other Changes | ฿-60.21 Million | -0.44% |
| Total Change | ฿- | -2.91% |
Book Value vs Market Value Analysis
This analysis compares TOA Paint (Thailand) 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: 1.81x
- 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 2.99x to 1.81x 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 | ฿4.14 | ฿12.40 | x |
| 2015-12-31 | ฿2.69 | ฿12.40 | x |
| 2016-12-31 | ฿0.52 | ฿12.40 | x |
| 2017-12-31 | ฿5.08 | ฿12.40 | x |
| 2018-12-31 | ฿4.64 | ฿12.40 | x |
| 2019-12-31 | ฿5.27 | ฿12.40 | x |
| 2020-12-31 | ฿5.63 | ฿12.40 | x |
| 2021-12-31 | ฿6.06 | ฿12.40 | x |
| 2022-12-31 | ฿6.31 | ฿12.40 | x |
| 2023-12-31 | ฿6.93 | ฿12.40 | x |
| 2024-12-31 | ฿6.86 | ฿12.40 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently TOA Paint (Thailand) 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): 14.05%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 9.08%
- • Asset Turnover: 1.02x
- • Equity Multiplier: 1.52x
- Recent ROE (14.05%) is below the historical average (46.75%), 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 | 36.01% | 8.02% | 1.32x | 3.39x | ฿969.80 Million |
| 2015 | 26.47% | 8.64% | 1.16x | 2.64x | ฿900.16 Million |
| 2016 | 314.84% | 15.51% | 1.69x | 12.01x | ฿2.45 Billion |
| 2017 | 20.26% | 10.88% | 1.12x | 1.67x | ฿866.12 Million |
| 2018 | 19.37% | 11.16% | 1.09x | 1.59x | ฿882.92 Million |
| 2019 | 20.23% | 12.74% | 1.08x | 1.47x | ฿1.09 Billion |
| 2020 | 17.80% | 12.46% | 0.99x | 1.44x | ฿889.75 Million |
| 2021 | 15.91% | 11.13% | 0.95x | 1.51x | ฿726.37 Million |
| 2022 | 11.08% | 6.86% | 1.07x | 1.51x | ฿137.89 Million |
| 2023 | 18.26% | 11.55% | 1.05x | 1.51x | ฿1.16 Billion |
| 2024 | 14.05% | 9.08% | 1.02x | 1.52x | ฿553.50 Million |
Industry Comparison
This section compares TOA Paint (Thailand) Public Company Limited's net assets metrics with peer companies in the Specialty Chemicals industry.
Industry Context
- Industry: Specialty Chemicals
- Average net assets among peers: $3,481,340,461
- Average return on equity (ROE) among peers: 9.48%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TOA Paint (Thailand) Public Company Limited (TOA) | ฿14.40 Billion | 36.01% | 0.43x | $749.26 Million |
| Salee Colour Public Company Limited (COLOR) | $817.55 Million | 3.75% | 0.74x | $18.17 Million |
| Dimet (Siam) Public Company Limited (DIMET) | $98.74 Million | -14.59% | 1.34x | $4.19 Million |
| Eason & Co Public Company Limited (EASON) | $1.13 Billion | 10.86% | 0.18x | $17.96 Million |
| Eastern Polymer Group Public Company Limited (EPG) | $10.12 Billion | 9.79% | 0.30x | $315.93 Million |
| Global Connections Public Company Limited (GC) | $159.64 Million | 21.71% | 4.35x | $61.17 Million |
| Megachem (Thailand) Public Company Limited (MGT) | $647.71 Million | 16.25% | 0.32x | $24.06 Million |
| Polyplex (Thailand) Public Company Limited (PTL) | $8.20 Billion | -1.50% | 0.91x | $267.90 Million |
| Polyplex (Thailand) Public Company Limited (PTL-R) | $12.92 Billion | 13.95% | 0.35x | $276.31 Million |
| Salee Industry Public Company Limited (SALEE) | $650.26 Million | 14.35% | 0.37x | $17.54 Million |
| Selic Corp Public Company Limited (SELIC) | $63.15 Million | 20.20% | 5.50x | $50.27 Million |
About TOA Paint (Thailand) Public Company Limited
TOA Paint (Thailand) Public Company Limited, together with its subsidiaries, manufactures and distributes paints and chemicals in Thailand, Vietnam, Laos, Myanmar, Cambodia, Indonesia, and Malaysia. The company provides construction chemicals, special paints, gypsum, hardware and power tools, and tile, as well as decorative, metal, heavy duty, and wood coatings. It also manufactures and distribut… Read more