TPI Polene Public Company Limited (TPIPL) - Net Assets

Latest as of March 2026: ฿67.62 Billion THB ≈ $2.11 Billion USD

Based on the latest financial reports, TPI Polene Public Company Limited (TPIPL) has net assets worth ฿67.62 Billion THB (≈ $2.11 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿162.20 Billion ≈ $5.06 Billion USD) and total liabilities (฿94.57 Billion ≈ $2.95 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 (TPIPL) tangible equity ratio to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	฿67.62 Billion
% of Total Assets	41.69%
Annual Growth Rate	5.65%
5-Year Change	15.92%
10-Year Change	21.16%
Growth Volatility	20.89

TPI Polene Public Company Limited - Net Assets Trend (2000–2025)

This chart illustrates how TPI Polene Public Company Limited's net assets have evolved over time, based on quarterly financial data. See operational self-sufficiency of TPI Polene Public Company Limited to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for TPI Polene Public Company Limited (2000–2025)

The table below shows the annual net assets of TPI Polene Public Company Limited from 2000 to 2025. For live valuation and market cap data, see TPIPL market cap.

Year	Net Assets	Change
2025-12-31	฿66.73 Billion ≈ $2.08 Billion	+2.94%
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 3461309000000.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	฿34.61 Billion	61.94%
Common Stock	฿18.94 Billion	33.89%
Other Comprehensive Income	฿2.05 Billion	3.67%
Other Components	฿281.14 Million	0.50%
Total Equity	฿55.88 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
Alltek Technology Corp TW:3209	$454.61 Million
Zaptec AS OL:ZAP	$454.65 Million
Tianjin Ruixin Technology Co Ltd SHE:300828	$454.67 Million
Haypp Grp Ab ST:HAYPP	$454.79 Million
Csd Water Service Co Ltd SHG:603903	$454.31 Million
TWC Enterprises Ltd TO:TWC	$454.06 Million
Guoanda Co Ltd SHE:300902	$453.86 Million
Infomedia Ltd AU:IFM	$453.85 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 2024 to 2025, total equity changed from 54,475,175,000 to 55,879,400,000, a change of 1,404,225,000 (2.6%).
Net income of 1,998,504,000 contributed positively to equity growth.
Dividend payments of 568,057,000 reduced retained earnings.
Other comprehensive income increased equity by 208,106,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	฿2.00 Billion	+3.58%
Dividends Paid	฿568.06 Million	-1.02%
Other Comprehensive Income	฿208.11 Million	+0.37%
Other Changes	฿-234.33 Million	-0.42%
Total Change	฿-	2.58%

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: 0.26x
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
2005-12-31	฿4.56	฿0.77	x
2006-12-31	฿3.95	฿0.77	x
2007-12-31	฿2.89	฿0.77	x
2008-12-31	฿2.53	฿0.77	x
2009-12-31	฿2.70	฿0.77	x
2010-12-31	฿2.73	฿0.77	x
2011-12-31	฿3.07	฿0.77	x
2012-12-31	฿3.27	฿0.77	x
2013-12-31	฿2.89	฿0.77	x
2014-12-31	฿2.87	฿0.77	x
2015-12-31	฿2.80	฿0.77	x
2016-12-31	฿2.76	฿0.77	x
2017-12-31	฿2.25	฿0.77	x
2018-12-31	฿2.18	฿0.77	x
2019-12-31	฿2.26	฿0.77	x
2020-12-31	฿2.30	฿0.77	x
2021-12-31	฿2.53	฿0.77	x
2022-12-31	฿2.82	฿0.77	x
2023-12-31	฿2.89	฿0.77	x
2024-12-31	฿2.88	฿0.77	x
2025-12-31	฿2.95	฿0.77	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): 3.58%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 5.59%
• Asset Turnover: 0.22x
• Equity Multiplier: 2.91x
Recent ROE (3.58%) is below the historical average (5.63%), 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
2025	3.58%	5.59%	0.22x	2.91x	฿-3.59 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: $3,674,988,892
Average return on equity (ROE) among peers: 9.55%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
TPI Polene Public Company Limited (TPIPL)	฿67.62 Billion	24.62%	1.40x	$454.45 Million
Chonburi Concrete Product Public Company Limited (CCP)	$1.55 Billion	0.76%	0.90x	$22.43 Million
Dcon Products Public Company Limited (DCON)	$2.72 Billion	2.18%	0.40x	$33.58 Million
General Engineering Public Company Limited (GEL)	$3.91 Billion	-3.60%	0.81x	$8.05 Million
Siam City Cement Public Company Limited (SCCC)	$15.89 Billion	20.33%	0.35x	$1.35 Billion
Southern Concrete Pile PCL (SCP)	$1.96 Billion	14.65%	0.20x	$79.19 Million
Smart Concrete Public Company Limited (SMART)	$427.10 Million	4.87%	0.62x	$17.21 Million
Tipco Asphalt Public Company Limited (TASCO)	$3.05 Billion	11.26%	1.43x	$688.75 Million
Tipco Asphalt Public Company Limited (TASCO-R)	$2.85 Billion	17.11%	3.39x	$737.94 Million
Thai Wire Products Public Company Limited (TWP)	$718.33 Million	18.40%	1.30x	$9.90 Million

About TPI Polene Public Company Limited

BK:TPIPL Thailand Building Materials

Market Cap

$454.45 Million

฿14.58 Billion THB

Market Cap Rank

#12958 Global

#137 in Thailand

Share Price

฿0.77

Change (1 day)

+0.00%

52-Week Range

฿0.66 - ฿0.94

All Time High

฿2.02