TPI POLENE POWER (TPIPP-R) - Net Assets

Latest as of June 2024: ฿33.75 Billion THB ≈ $1.05 Billion USD

Based on the latest financial reports, TPI POLENE POWER (TPIPP-R) has net assets worth ฿33.75 Billion THB (≈ $1.05 Billion USD) 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 ≈ $2.02 Billion USD) and total liabilities (฿31.03 Billion ≈ $967.21 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 TPIPP-R asset liquidity ratio to evaluate the company's liquid asset resilience ratio.

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. Also explore TPI POLENE POWER asset portfolio for the complete picture of this company's asset base.

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. For live valuation and market cap data, see TPI POLENE POWER (TPIPP-R) market capitalisation.

Year	Net Assets	Change
2023-12-31	฿33.20 Billion ≈ $1.03 Billion	+5.19%
2022-12-31	฿31.56 Billion ≈ $983.84 Million	+2.31%
2021-12-31	฿30.85 Billion ≈ $961.63 Million	+6.65%
2020-12-31	฿28.93 Billion ≈ $901.67 Million	+6.71%
2019-12-31	฿27.11 Billion ≈ $845.01 Million	+8.23%
2018-12-31	฿25.05 Billion ≈ $780.74 Million	+3.45%
2017-12-31	฿24.21 Billion ≈ $754.73 Million	+191.00%
2016-12-31	฿8.32 Billion ≈ $259.36 Million	-8.01%
2015-12-31	฿9.05 Billion ≈ $281.93 Million	+32.71%
2014-12-31	฿6.82 Billion ≈ $212.44 Million	+7.70%
2013-12-31	฿6.33 Billion ≈ $197.25 Million	+5.02%
2012-12-31	฿6.03 Billion ≈ $187.82 Million	--

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
Beijing Tongyizhong New Material Technology Corp SHG:688722	$597.02 Million
ChinaEtek Service & Technology Co. Ltd. SHE:301208	$597.21 Million
CorMedix Inc NASDAQ:CRMD	$597.22 Million
Shandong Keyuan Pharmaceutical Co. Ltd. A SHE:301281	$597.24 Million
International Tower Hill Mines Ltd TO:ITH	$596.80 Million
Sichuan Shengda Forestry Industry Co Ltd SHE:002259	$596.68 Million
YaGuang Technology Group Co Ltd SHE:300123	$596.61 Million
Jiangsu Wuyang Parking Industry Group Co Ltd SHE:300420	$596.27 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: $9,581,458,559
Average return on equity (ROE) among peers: 18.88%

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	$596.95 Million
BCPG Public Company Limited (BCPG)	$0.00	0.00%	0.00x	$658.30 Million
Energy Absolute Public Company Limited (EA)	$11.39 Billion	28.55%	2.64x	$611.13 Million
Green Resources Public Company Limited (GREEN)	$546.85 Million	17.08%	0.06x	$18.10 Million
SPCG Public Company Limited (SPCG)	$55.54 Million	34.46%	1.77x	$291.24 Million
Sermsang Power Corporation Public Company Limited (SSP)	$793.66 Million	62.81%	3.57x	$157.24 Million
Super Energy Corporation Public Company Limited (SUPER)	$21.50 Billion	3.09%	2.90x	$93.77 Million
Super Energy Corporation Public Company Limited (SUPER-R)	$14.70 Billion	2.46%	2.27x	$127.87 Million
TPC Power Holding Public Company Limited (TPCH)	$4.05 Billion	10.50%	1.14x	$21.26 Million
TPI Polene Power Public Company Limited (TPIPP)	$33.20 Billion	11.00%	0.80x	$502.70 Million

About TPI POLENE POWER

BK:TPIPP-R Thailand Utilities - Renewable

Market Cap

$596.95 Million

฿19.15 Billion THB

Market Cap Rank

#11634 Global

#112 in Thailand

Share Price

฿2.28

Change (1 day)

+0.88%

52-Week Range

฿2.02 - ฿2.40

All Time High

฿5.31