TPBI PCL (TPBI) - Net Assets
Based on the latest financial reports, TPBI PCL (TPBI) has net assets worth ฿3.03 Billion THB (≈ $94.43 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 (฿4.07 Billion ≈ $126.86 Million USD) and total liabilities (฿1.04 Billion ≈ $32.43 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 TPBI PCL tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ฿3.03 Billion |
| % of Total Assets | 74.44% |
| Annual Growth Rate | 8.18% |
| 5-Year Change | 19.01% |
| 10-Year Change | 10.59% |
| Growth Volatility | 23.49 |
TPBI PCL - Net Assets Trend (2014–2025)
This chart illustrates how TPBI PCL's net assets have evolved over time, based on quarterly financial data. See TPBI days of operational coverage to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for TPBI PCL (2014–2025)
The table below shows the annual net assets of TPBI PCL from 2014 to 2025. For live valuation and market cap data, see TPBI PCL (TPBI) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ฿3.03 Billion ≈ $94.43 Million |
+2.02% |
| 2024-12-31 | ฿2.97 Billion ≈ $92.56 Million |
+3.64% |
| 2023-12-31 | ฿2.87 Billion ≈ $89.31 Million |
+5.18% |
| 2022-12-31 | ฿2.72 Billion ≈ $84.91 Million |
+7.01% |
| 2021-12-31 | ฿2.55 Billion ≈ $79.35 Million |
-0.45% |
| 2020-12-31 | ฿2.56 Billion ≈ $79.71 Million |
+8.67% |
| 2019-12-31 | ฿2.35 Billion ≈ $73.35 Million |
-6.28% |
| 2018-12-31 | ฿2.51 Billion ≈ $78.26 Million |
-6.99% |
| 2017-12-31 | ฿2.70 Billion ≈ $84.15 Million |
-1.45% |
| 2016-12-31 | ฿2.74 Billion ≈ $85.39 Million |
+81.18% |
| 2015-12-31 | ฿1.51 Billion ≈ $47.13 Million |
+18.48% |
| 2014-12-31 | ฿1.28 Billion ≈ $39.78 Million |
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Equity Component Analysis
This analysis shows how different components contribute to TPBI 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 56.1% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿1.34 Billion | 46.63% |
| Other Components | ฿1.54 Billion | 53.37% |
| Total Equity | ฿2.88 Billion | 100.00% |
TPBI PCL Competitors by Market Cap
The table below lists competitors of TPBI PCL ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Indopoly Swakarsa Industry Tbk
JK:IPOL
|
$40.02 Million |
|
Plus500 Ltd
LSE:PLUS
|
$40.02 Million |
|
BJC Heavy Industries Public Company Limited
BK:BJCHI
|
$40.03 Million |
|
Gigas Hosting S.A
MC:GIGA
|
$40.03 Million |
|
Global Knafaim Leasing Ltd
TA:GKL
|
$40.02 Million |
|
Swiss Steel Holding AG
SW:STLN
|
$40.01 Million |
|
Swiss Properties Invest A/S
CO:SWISS
|
$40.00 Million |
|
INFOMARK Co. Ltd
KQ:175140
|
$40.00 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in TPBI PCL's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,826,823,062 to 2,880,849,833, a change of 54,026,771 (1.9%).
- Net income of 180,887,525 contributed positively to equity growth.
- Dividend payments of 124,992,303 reduced retained earnings.
- Other comprehensive income increased equity by 5,861,468.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿180.89 Million | +6.28% |
| Dividends Paid | ฿124.99 Million | -4.34% |
| Other Comprehensive Income | ฿5.86 Million | +0.2% |
| Other Changes | ฿-7.73 Million | -0.27% |
| Total Change | ฿- | 1.91% |
Book Value vs Market Value Analysis
This analysis compares TPBI 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: 0.45x
- 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 0.66x to 0.45x 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 | ฿4.65 | ฿3.08 | x |
| 2015-12-31 | ฿4.88 | ฿3.08 | x |
| 2016-12-31 | ฿7.07 | ฿3.08 | x |
| 2017-12-31 | ฿6.38 | ฿3.08 | x |
| 2018-12-31 | ฿5.84 | ฿3.08 | x |
| 2019-12-31 | ฿5.31 | ฿3.08 | x |
| 2020-12-31 | ฿5.79 | ฿3.08 | x |
| 2021-12-31 | ฿5.68 | ฿3.08 | x |
| 2022-12-31 | ฿6.14 | ฿3.08 | x |
| 2023-12-31 | ฿6.48 | ฿3.08 | x |
| 2024-12-31 | ฿6.78 | ฿3.08 | x |
| 2025-12-31 | ฿6.91 | ฿3.08 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently TPBI 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): 6.28%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.71%
- • Asset Turnover: 1.20x
- • Equity Multiplier: 1.41x
- Recent ROE (6.28%) is below the historical average (8.23%), 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 | 19.50% | 4.55% | 1.90x | 2.25x | ฿105.66 Million |
| 2015 | 26.17% | 7.65% | 1.69x | 2.02x | ฿225.51 Million |
| 2016 | 15.00% | 8.03% | 1.26x | 1.48x | ฿131.05 Million |
| 2017 | 6.96% | 3.76% | 1.12x | 1.65x | ฿-77.52 Million |
| 2018 | -6.23% | -2.94% | 0.98x | 2.18x | ฿-380.75 Million |
| 2019 | -2.50% | -1.05% | 1.14x | 2.10x | ฿-276.72 Million |
| 2020 | 7.43% | 3.33% | 1.07x | 2.08x | ฿-61.99 Million |
| 2021 | 1.14% | 0.48% | 1.06x | 2.26x | ฿-210.01 Million |
| 2022 | 8.63% | 3.24% | 1.41x | 1.88x | ฿-34.99 Million |
| 2023 | 7.55% | 3.90% | 1.15x | 1.68x | ฿-66.27 Million |
| 2024 | 8.84% | 4.44% | 1.27x | 1.56x | ฿-32.84 Million |
| 2025 | 6.28% | 3.71% | 1.20x | 1.41x | ฿-107.20 Million |
Industry Comparison
This section compares TPBI PCL's net assets metrics with peer companies in the Packaging & Containers industry.
Industry Context
- Industry: Packaging & Containers
- Average net assets among peers: $1,631,816,304
- Average return on equity (ROE) among peers: 10.73%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TPBI PCL (TPBI) | ฿3.03 Billion | 19.50% | 0.34x | $40.02 Million |
| A.J. Plast Public Company Limited (AJ) | $4.89 Billion | 8.77% | 1.12x | $52.80 Million |
| Crown Seal Public Company Limited (CSC) | $1.46 Billion | 11.08% | 0.45x | $71.32 Million |
| Multibax Public Company Limited (MBAX) | $303.97 Million | 3.13% | 2.43x | $11.77 Million |
| NEP Realty and Industry Public Company Limited (NEP) | $705.88 Million | 11.32% | 0.45x | $14.50 Million |
| Prodigy Public Company Limited (PDG) | $565.08 Million | 10.05% | 0.21x | $29.25 Million |
| Panjawattana Plastic Public Company Limited (PJW) | $1.02 Billion | 6.24% | 1.90x | $37.19 Million |
| Srithai Superware Public Company Limited (SITHAI) | $4.57 Billion | 6.88% | 0.38x | $83.01 Million |
| Sahamitr Pressure Container Public Company Limited (SMPC) | $1.53 Billion | 34.78% | 0.60x | $151.89 Million |
| S. Pack & Print Public Company Limited (SPACK) | $725.79 Million | 13.76% | 0.30x | $14.31 Million |
| Thai Coating Industrial Public Company Limited (TCOAT) | $551.58 Million | 1.32% | 0.15x | $8.75 Million |
About TPBI PCL
TPBI Public Company Limited, together with its subsidiaries, manufactures and distributes plastic bags and plastic packaging and machines for plastic bags production products in Thailand, Australia, the United Kingdom, the United States, Japan, New Zealand, and internationally. The company operates through seven segments: Manufacturing and Distribution of Plastic Packaging; Manufacturing and Dist… Read more