TPI Polene Public Company Limited (TPIPL) - Net Assets

Latest as of September 2025: ฿66.22 Billion THB ≈ $2.06 Billion USD

Based on the latest financial reports, TPI Polene Public Company Limited (TPIPL) has net assets worth ฿66.22 Billion THB (≈ $2.06 Billion USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿162.34 Billion ≈ $5.06 Billion USD) and total liabilities (฿96.12 Billion ≈ $3.00 Billion 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 TPI Polene Public Company Limited liquid asset ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	฿66.22 Billion
% of Total Assets	40.79%
Annual Growth Rate	5.76%
5-Year Change	24.25%
10-Year Change	15.83%
Growth Volatility	21.3

TPI Polene Public Company Limited - Net Assets Trend (2000–2024)

This chart illustrates how TPI Polene Public Company Limited's net assets have evolved over time, based on quarterly financial data. Also explore TPIPL total asset value for the complete picture of this company's asset base.

Annual Net Assets for TPI Polene Public Company Limited (2000–2024)

The table below shows the annual net assets of TPI Polene Public Company Limited from 2000 to 2024. For live valuation and market cap data, see TPIPL market cap.

Year	Net Assets	Change
2024-12-31	฿64.82 Billion ≈ $2.02 Billion	+0.31%
2023-12-31	฿64.63 Billion ≈ $2.01 Billion	+2.88%
2022-12-31	฿62.81 Billion ≈ $1.96 Billion	+9.12%
2021-12-31	฿57.56 Billion ≈ $1.79 Billion	+10.33%
2020-12-31	฿52.17 Billion ≈ $1.63 Billion	+1.32%
2019-12-31	฿51.49 Billion ≈ $1.61 Billion	+1.09%
2018-12-31	฿50.94 Billion ≈ $1.59 Billion	-2.21%
2017-12-31	฿52.09 Billion ≈ $1.62 Billion	-5.43%
2016-12-31	฿55.07 Billion ≈ $1.72 Billion	-1.59%
2015-12-31	฿55.97 Billion ≈ $1.74 Billion	-2.38%
2014-12-31	฿57.33 Billion ≈ $1.79 Billion	-0.67%
2013-12-31	฿57.71 Billion ≈ $1.80 Billion	-11.61%
2012-12-31	฿65.29 Billion ≈ $2.04 Billion	+6.40%
2011-12-31	฿61.37 Billion ≈ $1.91 Billion	+12.78%
2010-12-31	฿54.41 Billion ≈ $1.70 Billion	+1.00%
2009-12-31	฿53.88 Billion ≈ $1.68 Billion	+6.63%
2008-12-31	฿50.52 Billion ≈ $1.57 Billion	+15.41%
2007-12-31	฿43.78 Billion ≈ $1.36 Billion	-10.92%
2006-12-31	฿49.14 Billion ≈ $1.53 Billion	+36.92%
2005-12-31	฿35.89 Billion ≈ $1.12 Billion	+2.20%
2004-12-31	฿35.12 Billion ≈ $1.09 Billion	+58.71%
2003-12-31	฿22.13 Billion ≈ $689.71 Million	+75.62%
2002-12-31	฿12.60 Billion ≈ $392.73 Million	-27.11%
2001-12-31	฿17.29 Billion ≈ $538.77 Million	+2.28%
2000-12-31	฿16.90 Billion ≈ $526.74 Million	--

Equity Component Analysis

This analysis shows how different components contribute to TPI Polene 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 2346549900000.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Retained Earnings	฿23.47 Billion	43.08%
Common Stock	฿18.94 Billion	34.76%
Other Comprehensive Income	฿1.84 Billion	3.38%
Other Components	฿10.23 Billion	18.78%
Total Equity	฿54.48 Billion	100.00%

TPI Polene Public Company Limited Competitors by Market Cap

The table below lists competitors of TPI Polene Public Company Limited ranked by their market capitalization.

Company	Market Cap
Shanghai Yongguan Adhesive Products Corp Ltd SHG:603681	$507.63 Million
Braiin Limited Common Stock NASDAQ:BRAI	$507.66 Million
Mezzion Pharma Co.Ltd KQ:140410	$507.93 Million
Upstream Bio, Inc. NASDAQ:UPB	$507.96 Million
Flotek Industries Inc NYSE:FTK	$507.38 Million
Zhejiang Shouxiangu Pharm Co SHG:603896	$507.08 Million
Ningbo Bird Co Ltd SHG:600130	$507.04 Million
Suqian Unitech Corp. Ltd. Cl A SHG:603065	$507.02 Million

Equity Growth Attribution

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

Equity Growth Insights

From 2023 to 2024, total equity changed from 54,735,705,000 to 54,475,175,000, a change of -260,530,000 (-0.5%).
Net income of 1,442,498,000 contributed positively to equity growth.
Dividend payments of 1,704,171,000 reduced retained earnings.
Other comprehensive income increased equity by 11,374,000.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	฿1.44 Billion	+2.65%
Dividends Paid	฿1.70 Billion	-3.13%
Other Comprehensive Income	฿11.37 Million	+0.02%
Other Changes	฿-10.23 Million	-0.02%
Total Change	฿-	-0.48%

Book Value vs Market Value Analysis

This analysis compares TPI Polene 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: 0.30x
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 increased from 0.19x to 0.30x over the analyzed period, suggesting growing market confidence.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2005-12-31	฿4.56	฿0.86	x
2006-12-31	฿3.95	฿0.86	x
2007-12-31	฿2.89	฿0.86	x
2008-12-31	฿2.53	฿0.86	x
2009-12-31	฿2.70	฿0.86	x
2010-12-31	฿2.73	฿0.86	x
2011-12-31	฿3.07	฿0.86	x
2012-12-31	฿3.27	฿0.86	x
2013-12-31	฿2.89	฿0.86	x
2014-12-31	฿2.87	฿0.86	x
2015-12-31	฿2.80	฿0.86	x
2016-12-31	฿2.76	฿0.86	x
2017-12-31	฿2.25	฿0.86	x
2018-12-31	฿2.18	฿0.86	x
2019-12-31	฿2.26	฿0.86	x
2020-12-31	฿2.30	฿0.86	x
2021-12-31	฿2.53	฿0.86	x
2022-12-31	฿2.82	฿0.86	x
2023-12-31	฿2.89	฿0.86	x
2024-12-31	฿2.91	฿0.86	x

Capital Efficiency Dashboard

This dashboard shows how efficiently TPI Polene 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): 2.65%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 4.03%
• Asset Turnover: 0.22x
• Equity Multiplier: 2.93x
Recent ROE (2.65%) is below the historical average (5.72%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2001	24.62%	27.38%	0.22x	4.01x	฿2.53 Billion
2003	21.54%	25.06%	0.27x	3.22x	฿2.55 Billion
2005	4.24%	6.84%	0.31x	1.97x	฿-2.07 Billion
2006	5.66%	11.75%	0.35x	1.39x	฿-2.13 Billion
2007	4.04%	8.66%	0.36x	1.31x	฿-3.43 Billion
2008	-10.75%	-19.89%	0.37x	1.47x	฿-10.49 Billion
2009	8.84%	17.93%	0.38x	1.31x	฿-624.10 Million
2010	4.19%	8.91%	0.36x	1.29x	฿-3.16 Billion
2011	15.89%	37.94%	0.36x	1.17x	฿3.61 Billion
2012	0.38%	0.94%	0.34x	1.17x	฿-6.28 Billion
2013	1.05%	2.26%	0.33x	1.43x	฿-5.17 Billion
2014	2.32%	4.61%	0.29x	1.74x	฿-4.40 Billion
2015	0.65%	1.34%	0.25x	1.92x	฿-5.23 Billion
2016	-0.95%	-1.79%	0.25x	2.10x	฿-6.03 Billion
2017	-2.81%	-4.33%	0.28x	2.30x	฿-5.75 Billion
2018	0.74%	0.93%	0.32x	2.54x	฿-4.02 Billion
2019	6.37%	7.46%	0.32x	2.63x	฿-1.58 Billion
2020	6.52%	8.28%	0.28x	2.84x	฿-1.52 Billion
2021	11.72%	14.57%	0.29x	2.81x	฿833.41 Million
2022	13.12%	14.56%	0.33x	2.71x	฿1.67 Billion
2023	5.88%	7.52%	0.26x	2.99x	฿-2.26 Billion
2024	2.65%	4.03%	0.22x	2.93x	฿-4.01 Billion

Industry Comparison

This section compares TPI Polene Public Company Limited's net assets metrics with peer companies in the Building Materials industry.

Industry Context

Industry: Building Materials
Average net assets among peers: $3,525,426,992
Average return on equity (ROE) among peers: 3.03%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
TPI Polene Public Company Limited (TPIPL)	฿66.22 Billion	24.62%	1.45x	$507.57 Million
Chonburi Concrete Product Public Company Limited (CCP)	$573.31 Million	-34.45%	4.88x	$23.29 Million
Dcon Products Public Company Limited (DCON)	$950.41 Million	22.66%	0.36x	$35.26 Million
General Engineering Public Company Limited (GEL)	$4.20 Billion	-10.95%	1.51x	$8.05 Million
Siam City Cement Public Company Limited (SCCC)	$16.80 Billion	24.24%	0.25x	$1.30 Billion
Southern Concrete Pile PCL (SCP)	$189.61 Million	20.36%	4.02x	$71.71 Million
Smart Concrete Public Company Limited (SMART)	$472.05 Million	-15.71%	0.36x	$18.18 Million
Tipco Asphalt Public Company Limited (TASCO)	$1.84 Billion	1.64%	1.71x	$664.15 Million
Tipco Asphalt Public Company Limited (TASCO-R)	$5.89 Billion	14.11%	2.44x	$737.94 Million
Thai Wire Products Public Company Limited (TWP)	$809.93 Million	5.36%	0.83x	$9.57 Million

About TPI Polene Public Company Limited

BK:TPIPL Thailand Building Materials

Market Cap

$507.57 Million

฿16.28 Billion THB

Market Cap Rank

#12461 Global

#122 in Thailand

Share Price

฿0.86

Change (1 day)

-1.15%

52-Week Range

฿0.66 - ฿1.05

All Time High

฿2.02