Thai Rayon Public Company Limited
Thai Rayon Public Company Limited engages in the manufacture and sale of viscose rayon staple fiber and anhydrous sodium sulphate products in Thailand and internationally. The company offers fibers that are used in apparel, home textiles, dress material, knitwear, wipes, personal hygiene, and medical usages under the Birla Cellulose brand name; textile fashion products under the Birla Modal brand… Read more
Thai Rayon Public Company Limited (TR) - Net Assets
Latest net assets as of June 2025: ฿27.97 Billion THB
Based on the latest financial reports, Thai Rayon Public Company Limited (TR) has net assets worth ฿27.97 Billion THB as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿34.96 Billion) and total liabilities (฿6.98 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 | ฿27.97 Billion |
| % of Total Assets | 80.02% |
| Annual Growth Rate | 6.9% |
| 5-Year Change | 8.02% |
| 10-Year Change | 47.62% |
| Growth Volatility | 9.01 |
Thai Rayon Public Company Limited - Net Assets Trend (2002–2025)
This chart illustrates how Thai Rayon Public Company Limited's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Thai Rayon Public Company Limited (2002–2025)
The table below shows the annual net assets of Thai Rayon Public Company Limited from 2002 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | ฿28.13 Billion | -6.97% |
| 2024-03-31 | ฿30.24 Billion | +1.64% |
| 2023-03-31 | ฿29.75 Billion | -1.09% |
| 2022-03-31 | ฿30.08 Billion | +15.50% |
| 2021-03-31 | ฿26.04 Billion | +10.67% |
| 2020-03-31 | ฿23.53 Billion | -2.25% |
| 2019-03-31 | ฿24.07 Billion | +3.81% |
| 2018-03-31 | ฿23.19 Billion | +8.47% |
| 2017-03-31 | ฿21.38 Billion | +12.20% |
| 2016-03-31 | ฿19.05 Billion | +10.55% |
| 2015-03-31 | ฿17.24 Billion | -10.41% |
| 2014-03-31 | ฿19.24 Billion | -4.80% |
| 2013-03-31 | ฿20.21 Billion | -0.02% |
| 2012-03-31 | ฿20.21 Billion | -1.48% |
| 2011-03-31 | ฿20.52 Billion | +13.54% |
| 2010-03-31 | ฿18.07 Billion | +17.94% |
| 2009-03-31 | ฿15.32 Billion | +2.99% |
| 2008-03-31 | ฿14.88 Billion | +9.04% |
| 2007-03-31 | ฿13.64 Billion | +23.31% |
| 2006-03-31 | ฿11.07 Billion | +15.57% |
| 2005-03-31 | ฿9.57 Billion | +16.56% |
| 2004-03-31 | ฿8.21 Billion | +17.53% |
| 2003-03-31 | ฿6.99 Billion | +15.20% |
| 2002-03-31 | ฿6.07 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Thai Rayon 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 603.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿24.80 Billion | 88.18% |
| Other Components | ฿3.32 Billion | 11.82% |
| Total Equity | ฿28.13 Billion | 100.00% |
Thai Rayon Public Company Limited Competitors by Market Cap
The table below lists competitors of Thai Rayon Public Company Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Microtips Technology
TWO:3285
|
$18.95 Million |
|
Imaflex Inc
PINK:IFLXF
|
$18.96 Million |
|
Haatz Inc
KQ:066130
|
$18.96 Million |
|
Neofect Co.Ltd
KQ:290660
|
$18.96 Million |
|
Aloys Inc.
KQ:297570
|
$18.95 Million |
|
Stars Microelectronics (Thailand) PCL
BK:SMT
|
$18.95 Million |
|
Evoke Pharma Inc
NASDAQ:EVOK
|
$18.95 Million |
|
Abko Co. Ltd
KQ:129890
|
$18.95 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Thai Rayon Public Company Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 30,236,863,000 to 28,128,397,000, a change of -2,108,466,000 (-7.0%).
- Net income of 88,774,000 contributed positively to equity growth.
- Dividend payments of 10,080,000 reduced retained earnings.
- Other comprehensive income decreased equity by 5,309,709,000.
- Other factors increased equity by 3,122,549,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿88.77 Million | +0.32% |
| Dividends Paid | ฿10.08 Million | -0.04% |
| Other Comprehensive Income | ฿-5.31 Billion | -18.88% |
| Other Changes | ฿3.12 Billion | +11.1% |
| Total Change | ฿- | -6.97% |
Book Value vs Market Value Analysis
This analysis compares Thai Rayon 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.
- The price-to-book ratio has decreased from 0.48x to 0.19x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-03-31 | ฿54.87 | ฿26.25 | x |
| 2007-03-31 | ฿67.69 | ฿26.25 | x |
| 2008-03-31 | ฿73.80 | ฿26.25 | x |
| 2009-03-31 | ฿75.84 | ฿26.25 | x |
| 2010-03-31 | ฿89.66 | ฿26.25 | x |
| 2012-03-31 | ฿100.40 | ฿26.25 | x |
| 2013-03-31 | ฿98.45 | ฿26.25 | x |
| 2014-03-31 | ฿95.31 | ฿26.25 | x |
| 2015-03-31 | ฿85.64 | ฿26.25 | x |
| 2016-03-31 | ฿94.52 | ฿26.25 | x |
| 2017-03-31 | ฿106.05 | ฿26.25 | x |
| 2018-03-31 | ฿115.03 | ฿26.25 | x |
| 2019-03-31 | ฿119.41 | ฿26.25 | x |
| 2020-03-31 | ฿116.72 | ฿26.25 | x |
| 2021-03-31 | ฿129.17 | ฿26.25 | x |
| 2022-03-31 | ฿149.19 | ฿26.25 | x |
| 2023-03-31 | ฿147.56 | ฿26.25 | x |
| 2024-03-31 | ฿149.98 | ฿26.25 | x |
| 2025-03-31 | ฿139.53 | ฿26.25 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Thai Rayon 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): 0.32%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.87%
- • Asset Turnover: 0.29x
- • Equity Multiplier: 1.25x
- Recent ROE (0.32%) is below the historical average (7.12%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 13.60% | 20.40% | 0.64x | 1.05x | ฿218.13 Million |
| 2003 | 14.01% | 22.77% | 0.58x | 1.06x | ฿280.30 Million |
| 2004 | 15.30% | 25.16% | 0.57x | 1.06x | ฿435.07 Million |
| 2005 | 16.00% | 28.76% | 0.53x | 1.05x | ฿574.11 Million |
| 2006 | 12.41% | 22.26% | 0.53x | 1.05x | ฿266.89 Million |
| 2007 | 18.25% | 29.46% | 0.59x | 1.06x | ฿1.12 Billion |
| 2008 | 15.01% | 22.16% | 0.64x | 1.06x | ฿745.79 Million |
| 2009 | 3.02% | 7.33% | 0.39x | 1.04x | ฿-1.07 Billion |
| 2010 | 16.83% | 29.45% | 0.53x | 1.07x | ฿1.23 Billion |
| 2011 | 13.81% | 23.12% | 0.55x | 1.08x | ฿781.17 Million |
| 2012 | 2.55% | 9.75% | 0.24x | 1.07x | ฿-1.51 Billion |
| 2013 | -0.10% | -0.18% | 0.49x | 1.20x | ฿-2.02 Billion |
| 2014 | -5.04% | -8.23% | 0.49x | 1.25x | ฿-2.89 Billion |
| 2015 | -7.85% | -9.40% | 0.61x | 1.36x | ฿-3.08 Billion |
| 2016 | 7.27% | 15.02% | 0.43x | 1.12x | ฿-519.96 Million |
| 2017 | 10.88% | 25.61% | 0.39x | 1.10x | ฿187.37 Million |
| 2018 | 9.17% | 21.21% | 0.40x | 1.08x | ฿-191.42 Million |
| 2019 | 6.55% | 16.80% | 0.36x | 1.09x | ฿-830.56 Million |
| 2020 | 0.80% | 2.56% | 0.29x | 1.08x | ฿-2.16 Billion |
| 2021 | 0.34% | 1.49% | 0.22x | 1.07x | ฿-2.51 Billion |
| 2022 | 11.65% | 33.20% | 0.32x | 1.11x | ฿496.00 Million |
| 2023 | 2.29% | 8.21% | 0.25x | 1.10x | ฿-2.29 Billion |
| 2024 | -6.12% | -19.89% | 0.25x | 1.22x | ฿-4.88 Billion |
| 2025 | 0.32% | 0.87% | 0.29x | 1.25x | ฿-2.72 Billion |
Industry Comparison
This section compares Thai Rayon Public Company Limited's net assets metrics with peer companies in the Textile Manufacturing industry.
Industry Context
- Industry: Textile Manufacturing
- Average net assets among peers: $2,186,219,400
- Average return on equity (ROE) among peers: -0.04%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Thai Rayon Public Company Limited (TR) | ฿27.97 Billion | 13.60% | 0.25x | $18.95 Million |
| Asia Fiber Public Company Limited (AFC) | $1.19 Billion | -1.77% | 0.17x | $1.20 Million |
| TCM Corporation Public Company Limited (TCMC) | $859.39 Million | 5.16% | 0.54x | $3.57 Million |
| Thai Textile Industry Public Company Limited (TTI) | $2.00 Billion | -6.52% | 0.80x | $737.97K |
| Toray Textiles (Thailand) Public Company Limited (TTT) | $6.93 Billion | 0.80% | 0.25x | $18.29 Million |
| Union Pioneer Public Company Limited (UPF) | $372.71 Million | 9.48% | 0.44x | $1.54 Million |
| World Flex PCL (WFX) | $1.76 Billion | -7.39% | 0.40x | $4.50 Million |