TPI POLENE POWER
TPI Polene Power Public Company Limited generates and distributes electricity, refuse derived fuel, and organics waste in Thailand. It operates in two segments, Energy & Utilities, and Petrol and Gas Stations. The company owns and operates solid waste power plant, waste heat power plants, and coal-fired power plants; and operates petrol and gas service stations under the TPIPL brand. It has a tot… Read more
TPI POLENE POWER (TPIPP-R) - Net Assets
Latest net assets as of June 2024: ฿33.75 Billion THB
Based on the latest financial reports, TPI POLENE POWER (TPIPP-R) has net assets worth ฿33.75 Billion THB as of June 2024.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿64.78 Billion) and total liabilities (฿31.03 Billion). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ฿33.75 Billion |
| % of Total Assets | 52.1% |
| Annual Growth Rate | 16.79% |
| 5-Year Change | 22.47% |
| 10-Year Change | 387.14% |
| Growth Volatility | 53.69 |
TPI POLENE POWER - Net Assets Trend (2012–2023)
This chart illustrates how TPI POLENE POWER's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for TPI POLENE POWER (2012–2023)
The table below shows the annual net assets of TPI POLENE POWER from 2012 to 2023.
| Year | Net Assets | Change |
|---|---|---|
| 2023-12-31 | ฿33.20 Billion | +5.19% |
| 2022-12-31 | ฿31.56 Billion | +2.31% |
| 2021-12-31 | ฿30.85 Billion | +6.65% |
| 2020-12-31 | ฿28.93 Billion | +6.71% |
| 2019-12-31 | ฿27.11 Billion | +8.23% |
| 2018-12-31 | ฿25.05 Billion | +3.45% |
| 2017-12-31 | ฿24.21 Billion | +191.00% |
| 2016-12-31 | ฿8.32 Billion | -8.01% |
| 2015-12-31 | ฿9.05 Billion | +32.71% |
| 2014-12-31 | ฿6.82 Billion | +7.70% |
| 2013-12-31 | ฿6.33 Billion | +5.02% |
| 2012-12-31 | ฿6.03 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to TPI POLENE POWER'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 380.1% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2023)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿9.38 Billion | 28.25% |
| Common Stock | ฿8.40 Billion | 25.30% |
| Other Comprehensive Income | ฿840.00 Million | 2.53% |
| Other Components | ฿14.58 Billion | 43.92% |
| Total Equity | ฿33.20 Billion | 100.00% |
TPI POLENE POWER Competitors by Market Cap
The table below lists competitors of TPI POLENE POWER ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Magna Mining Inc
PINK:MGMNF
|
$155.82 Million |
|
Novonix Ltd
PINK:NVNXF
|
$155.82 Million |
|
AzureWave Technologies Inc
TW:3694
|
$155.82 Million |
|
Astra Otoparts Tbk
JK:AUTO
|
$155.83 Million |
|
Nitco Limited
NSE:NITCO
|
$155.71 Million |
|
Pum-Tech Korea Co. Ltd
KQ:251970
|
$155.70 Million |
|
JuneYao Dairy Co Ltd
SHG:605388
|
$155.68 Million |
|
Guangdong Kitech New Material Holding Co.Ltd.
SHE:300995
|
$155.64 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in TPI POLENE POWER's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2022 to 2023, total equity changed from 31,564,424,000 to 33,201,585,000, a change of 1,637,161,000 (5.2%).
- Net income of 3,653,161,000 contributed positively to equity growth.
- Dividend payments of 2,016,000,000 reduced retained earnings.
Equity Change Factors (2022 to 2023)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿3.65 Billion | +11.0% |
| Dividends Paid | ฿2.02 Billion | -6.07% |
| Total Change | ฿- | 5.19% |
Book Value vs Market Value Analysis
This analysis compares TPI POLENE POWER'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: 0.58x
- 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 1.19x to 0.58x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2012-12-31 | ฿1.92 | ฿2.28 | x |
| 2013-12-31 | ฿1.56 | ฿2.28 | x |
| 2014-12-31 | ฿0.81 | ฿2.28 | x |
| 2015-12-31 | ฿1.08 | ฿2.28 | x |
| 2016-12-31 | ฿1.41 | ฿2.28 | x |
| 2017-12-31 | ฿3.11 | ฿2.28 | x |
| 2018-12-31 | ฿2.98 | ฿2.28 | x |
| 2019-12-31 | ฿3.23 | ฿2.28 | x |
| 2020-12-31 | ฿3.44 | ฿2.28 | x |
| 2021-12-31 | ฿3.67 | ฿2.28 | x |
| 2022-12-31 | ฿3.76 | ฿2.28 | x |
| 2023-12-31 | ฿3.95 | ฿2.28 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently TPI POLENE POWER 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): 11.00%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 33.24%
- • Asset Turnover: 0.18x
- • Equity Multiplier: 1.80x
- Recent ROE (11.00%) is below the historical average (11.84%), 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 | 12.35% | 31.83% | 0.32x | 1.20x | ฿141.03 Million |
| 2013 | 5.21% | 15.56% | 0.26x | 1.29x | ฿-303.41 Million |
| 2014 | 5.56% | 19.10% | 0.16x | 1.80x | ฿-302.50 Million |
| 2015 | 5.45% | 18.76% | 0.21x | 1.40x | ฿-411.16 Million |
| 2016 | 21.92% | 41.76% | 0.24x | 2.18x | ฿992.15 Million |
| 2017 | 10.70% | 53.27% | 0.18x | 1.14x | ฿170.13 Million |
| 2018 | 14.77% | 48.54% | 0.24x | 1.26x | ฿1.19 Billion |
| 2019 | 16.99% | 43.58% | 0.28x | 1.40x | ฿1.90 Billion |
| 2020 | 15.58% | 40.52% | 0.25x | 1.51x | ฿1.61 Billion |
| 2021 | 13.59% | 37.85% | 0.23x | 1.57x | ฿1.11 Billion |
| 2022 | 8.91% | 27.58% | 0.20x | 1.60x | ฿-343.66 Million |
| 2023 | 11.00% | 33.24% | 0.18x | 1.80x | ฿333.00 Million |
Industry Comparison
This section compares TPI POLENE POWER's net assets metrics with peer companies in the Utilities - Renewable industry.
Industry Context
- Industry: Utilities - Renewable
- Average net assets among peers: $7,074,167,484
- Average return on equity (ROE) among peers: 6.18%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TPI POLENE POWER (TPIPP-R) | ฿33.75 Billion | 12.35% | 0.92x | $155.72 Million |
| Asia Biomass Public Company Limited (ABM) | $142.62 Million | -4.32% | 3.60x | $1.48 Million |
| Absolute Clean Energy PCL (ACE) | $14.18 Billion | 9.04% | 0.41x | $77.52 Million |
| ABSOLUTE CLEAN ENERGY (ACE-R) | $276.78 Million | -1.23% | 37.38x | $79.91 Million |
| BBGI PCL (BBGI) | $6.50 Billion | 12.99% | 0.96x | $41.12 Million |
| BCPG Public Company Limited (BCPG) | $27.23 Billion | 7.39% | 1.16x | $229.34 Million |
| Clover Power PCL (CV) | $590.77 Million | 33.82% | 2.29x | $553.20K |
| Energy Absolute Public Company Limited (EA) | $19.52 Billion | 25.49% | 2.03x | $424.82 Million |
| Earth Tech Environment Public Company Limited (ETC) | $222.14 Million | -9.24% | 1.12x | $13.55 Million |
| Green Resources Public Company Limited (GREEN) | $767.18 Million | -4.00% | 0.36x | $7.02 Million |
| Meta Corporation Public Company Limited (META) | $1.31 Billion | -8.12% | 0.39x | $2.59 Million |