TPC Power Holding Public Company Limited (TPCH) - Net Assets
Based on the latest financial reports, TPC Power Holding Public Company Limited (TPCH) has net assets worth ฿3.55 Billion THB (≈ $110.56 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 (฿6.96 Billion ≈ $217.01 Million USD) and total liabilities (฿3.42 Billion ≈ $106.44 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 tangible net worth ratio of TPC Power Holding Public Company Limited to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ฿3.55 Billion |
| % of Total Assets | 50.95% |
| Annual Growth Rate | 26.7% |
| 5-Year Change | -5.37% |
| 10-Year Change | 45.53% |
| Growth Volatility | 66.15 |
TPC Power Holding Public Company Limited - Net Assets Trend (2011–2025)
This chart illustrates how TPC Power Holding Public Company Limited's net assets have evolved over time, based on quarterly financial data. See TPCH cash and liquid assets coverage to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for TPC Power Holding Public Company Limited (2011–2025)
The table below shows the annual net assets of TPC Power Holding Public Company Limited from 2011 to 2025. For live valuation and market cap data, see TPC Power Holding Public Company Limited market cap and net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ฿3.55 Billion ≈ $110.56 Million |
-5.98% |
| 2024-12-31 | ฿3.77 Billion ≈ $117.60 Million |
-2.87% |
| 2023-12-31 | ฿3.88 Billion ≈ $121.07 Million |
-0.84% |
| 2022-12-31 | ฿3.92 Billion ≈ $122.09 Million |
+4.49% |
| 2021-12-31 | ฿3.75 Billion ≈ $116.84 Million |
-7.46% |
| 2020-12-31 | ฿4.05 Billion ≈ $126.25 Million |
+9.26% |
| 2019-12-31 | ฿3.71 Billion ≈ $115.55 Million |
+13.42% |
| 2018-12-31 | ฿3.27 Billion ≈ $101.88 Million |
+18.68% |
| 2017-12-31 | ฿2.75 Billion ≈ $85.84 Million |
+12.99% |
| 2016-12-31 | ฿2.44 Billion ≈ $75.97 Million |
+14.05% |
| 2015-12-31 | ฿2.14 Billion ≈ $66.61 Million |
+9.72% |
| 2014-12-31 | ฿1.95 Billion ≈ $60.71 Million |
+196.15% |
| 2013-12-31 | ฿657.74 Million ≈ $20.50 Million |
+188.53% |
| 2012-12-31 | ฿227.96 Million ≈ $7.11 Million |
+76.51% |
| 2011-12-31 | ฿129.15 Million ≈ $4.03 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to TPC Power Holding 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 116552373885.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿1.17 Billion | 38.56% |
| Other Components | ฿1.86 Billion | 61.44% |
| Total Equity | ฿3.02 Billion | 100.00% |
TPC Power Holding Public Company Limited Competitors by Market Cap
The table below lists competitors of TPC Power Holding Public Company Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shenzhen Wongtee International Enterprise Co Ltd
SHE:200056
|
$18.01 Million |
|
Toppoint Holdings Inc.
NYSE MKT:TOPP
|
$18.03 Million |
|
BlackRock Virginia MBT
NYSE:BHV
|
$18.03 Million |
|
Roctool
PA:ALROC
|
$18.04 Million |
|
iZafe Group AB Series B
ST:IZAFE-B
|
$18.00 Million |
|
Indian Terrain Fashions Limited
NSE:INDTERRAIN
|
$18.00 Million |
|
Nacon Sa
PA:NACON
|
$18.00 Million |
|
PYRAMID AG NA O.N.
XETRA:M3B
|
$17.99 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in TPC Power Holding Public Company Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 3,228,927,047 to 3,021,852,348, a change of -207,074,699 (-6.4%).
- Net loss of 192,231,964 reduced equity.
- Dividend payments of 14,842,735 reduced retained earnings.
- Other comprehensive income decreased equity by 191,953,048.
- Other factors increased equity by 191,953,048.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿-192.23 Million | -6.36% |
| Dividends Paid | ฿14.84 Million | -0.49% |
| Other Comprehensive Income | ฿-191.95 Million | -6.35% |
| Other Changes | ฿191.95 Million | +6.35% |
| Total Change | ฿- | -6.41% |
Book Value vs Market Value Analysis
This analysis compares TPC Power Holding 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: 0.19x
- 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.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2012-12-31 | ฿10.01 | ฿1.44 | x |
| 2013-12-31 | ฿2.06 | ฿1.44 | x |
| 2014-12-31 | ฿5.52 | ฿1.44 | x |
| 2015-12-31 | ฿4.42 | ฿1.44 | x |
| 2016-12-31 | ฿4.92 | ฿1.44 | x |
| 2017-12-31 | ฿5.41 | ฿1.44 | x |
| 2018-12-31 | ฿6.24 | ฿1.44 | x |
| 2019-12-31 | ฿6.98 | ฿1.44 | x |
| 2020-12-31 | ฿7.40 | ฿1.44 | x |
| 2021-12-31 | ฿7.19 | ฿1.44 | x |
| 2022-12-31 | ฿7.59 | ฿1.44 | x |
| 2023-12-31 | ฿8.15 | ฿1.44 | x |
| 2024-12-31 | ฿8.05 | ฿1.44 | x |
| 2025-12-31 | ฿7.53 | ฿1.44 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently TPC Power Holding 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): -6.36%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -8.59%
- • Asset Turnover: 0.32x
- • Equity Multiplier: 2.30x
- Recent ROE (-6.36%) is below the historical average (7.45%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2012 | -0.21% | 0.00% | 0.00x | 4.43x | ฿-15.63 Million |
| 2013 | 2.15% | 6.86% | 0.15x | 2.06x | ฿-45.06 Million |
| 2014 | 1.65% | 11.03% | 0.08x | 1.79x | ฿-143.78 Million |
| 2015 | 2.63% | 15.29% | 0.09x | 1.86x | ฿-130.55 Million |
| 2016 | 10.18% | 29.92% | 0.15x | 2.25x | ฿3.59 Million |
| 2017 | 9.59% | 19.05% | 0.21x | 2.37x | ฿-9.00 Million |
| 2018 | 14.14% | 22.68% | 0.26x | 2.38x | ฿103.58 Million |
| 2019 | 20.53% | 35.03% | 0.21x | 2.79x | ฿295.07 Million |
| 2020 | 14.34% | 23.94% | 0.20x | 2.93x | ฿128.73 Million |
| 2021 | 9.95% | 11.62% | 0.26x | 3.30x | ฿-1.46 Million |
| 2022 | 9.62% | 11.05% | 0.29x | 3.04x | ฿-11.69 Million |
| 2023 | 8.82% | 10.12% | 0.37x | 2.37x | ฿-38.62 Million |
| 2024 | 7.26% | 9.91% | 0.30x | 2.42x | ฿-88.59 Million |
| 2025 | -6.36% | -8.59% | 0.32x | 2.30x | ฿-494.42 Million |
Industry Comparison
This section compares TPC Power Holding Public Company Limited's net assets metrics with peer companies in the Utilities - Renewable industry.
Industry Context
- Industry: Utilities - Renewable
- Average net assets among peers: $10,225,978,710
- Average return on equity (ROE) among peers: 8.35%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TPC Power Holding Public Company Limited (TPCH) | ฿3.55 Billion | -0.21% | 0.96x | $18.01 Million |
| BCPG Public Company Limited (BCPG) | $15.56 Billion | 11.58% | 1.39x | $681.64 Million |
| Energy Absolute Public Company Limited (EA) | $1.14 Billion | 9.38% | 1.23x | $703.72 Million |
| Green Resources Public Company Limited (GREEN) | $859.69 Million | -0.30% | 0.32x | $19.12 Million |
| SPCG Public Company Limited (SPCG) | $11.21 Billion | 22.52% | 1.05x | $291.24 Million |
| Sermsang Power Corporation Public Company Limited (SSP) | $3.42 Billion | 9.93% | 1.42x | $158.02 Million |
| Super Energy Corporation Public Company Limited (SUPER) | $16.22 Billion | 7.92% | 1.89x | $110.82 Million |
| Super Energy Corporation Public Company Limited (SUPER-R) | $12.25 Billion | -5.82% | 2.22x | $127.87 Million |
| TPI Polene Power Public Company Limited (TPIPP) | $25.05 Billion | 14.77% | 0.26x | $463.42 Million |
| TPI POLENE POWER (TPIPP-R) | $6.33 Billion | 5.21% | 0.29x | $596.95 Million |
About TPC Power Holding Public Company Limited
TPC Power Holding Public Company Limited, together with its subsidiaries, generates and distributes electricity in Thailand. It produces electricity from biomass, hydro, solar, wind, waste, and biogas power plants. TPC Power Holding Public Company Limited was incorporated in 2012 and is based in Bangkok, Thailand.