T.R.V. Rubber Products PCL
T.R.V. Rubber Products Public Company Limited, together with its subsidiaries, engages in the manufacture and distribution of molded rubber products for automotive parts, electrical appliance parts, and others in Thailand. The company offers automotive rubber parts, such as o-rings, gaskets, rubber seals, rubber pipes, rubber and brake pads, electrical conduits, and anti-slip rubbers, as well as … Read more
T.R.V. Rubber Products PCL (TRV) - Net Assets
Latest net assets as of September 2025: ฿459.78 Million THB
Based on the latest financial reports, T.R.V. Rubber Products PCL (TRV) has net assets worth ฿459.78 Million THB as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿499.35 Million) and total liabilities (฿39.57 Million). 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 | ฿459.78 Million |
| % of Total Assets | 92.08% |
| Annual Growth Rate | 31.54% |
| 5-Year Change | 163.79% |
| 10-Year Change | N/A |
| Growth Volatility | 43.69 |
T.R.V. Rubber Products PCL - Net Assets Trend (2017–2024)
This chart illustrates how T.R.V. Rubber Products PCL's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for T.R.V. Rubber Products PCL (2017–2024)
The table below shows the annual net assets of T.R.V. Rubber Products PCL from 2017 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ฿457.17 Million | +2.48% |
| 2023-12-31 | ฿446.09 Million | +41.76% |
| 2022-12-31 | ฿314.69 Million | +5.00% |
| 2021-12-31 | ฿299.70 Million | +72.93% |
| 2020-12-31 | ฿173.31 Million | -14.25% |
| 2019-12-31 | ฿202.10 Million | +121.92% |
| 2018-12-31 | ฿91.07 Million | +35.73% |
| 2017-12-31 | ฿67.10 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to T.R.V. Rubber Products PCL'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 162.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿71.10 Million | 15.55% |
| Other Components | ฿386.07 Million | 84.45% |
| Total Equity | ฿457.17 Million | 100.00% |
T.R.V. Rubber Products PCL Competitors by Market Cap
The table below lists competitors of T.R.V. Rubber Products PCL ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Olivut Resources Ltd
PINK:OLVRF
|
$2.70 Million |
|
Angel Wing Metals Inc
V:AWM
|
$2.70 Million |
|
Horizon Minerals Limited
PINK:HRZMF
|
$2.70 Million |
|
Linkers Industries Limited Class A Ordinary Shares
NASDAQ:LNKS
|
$2.70 Million |
|
PT Mitra Pedagang Indonesia Tb
JK:MPIX
|
$2.70 Million |
|
Scandium International Mining Corp
PINK:SCYYF
|
$2.70 Million |
|
JUVA LIFE INC.
F:4VV
|
$2.70 Million |
|
Searefico Corp
VN:SRF
|
$2.70 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in T.R.V. Rubber Products PCL's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 446,092,456 to 457,172,017, a change of 11,079,561 (2.5%).
- Net income of 11,079,561 contributed positively to equity growth.
- Other comprehensive income decreased equity by 11,150,000.
- Other factors increased equity by 11,150,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿11.08 Million | +2.42% |
| Other Comprehensive Income | ฿-11.15 Million | -2.44% |
| Other Changes | ฿11.15 Million | +2.44% |
| Total Change | ฿- | 2.48% |
Book Value vs Market Value Analysis
This analysis compares T.R.V. Rubber Products PCL'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: 0.90x
- 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 1.39x to 0.90x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | ฿1.23 | ฿1.71 | x |
| 2018-12-31 | ฿1.67 | ฿1.71 | x |
| 2019-12-31 | ฿3.70 | ฿1.71 | x |
| 2020-12-31 | ฿3.18 | ฿1.71 | x |
| 2021-12-31 | ฿1.87 | ฿1.71 | x |
| 2022-12-31 | ฿1.50 | ฿1.71 | x |
| 2023-12-31 | ฿1.97 | ฿1.71 | x |
| 2024-12-31 | ฿1.90 | ฿1.71 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently T.R.V. Rubber Products PCL 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): 2.42%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 2.24%
- • Asset Turnover: 1.01x
- • Equity Multiplier: 1.08x
- Recent ROE (2.42%) is below the historical average (13.56%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | 28.86% | 13.49% | 0.62x | 3.47x | ฿12.65 Million |
| 2018 | 25.91% | 16.16% | 0.64x | 2.51x | ฿14.49 Million |
| 2019 | 12.50% | 15.04% | 0.62x | 1.35x | ฿5.06 Million |
| 2020 | 12.23% | 13.30% | 0.59x | 1.55x | ฿3.87 Million |
| 2021 | 8.06% | 13.60% | 0.48x | 1.22x | ฿-5.82 Million |
| 2022 | 16.10% | 29.17% | 0.47x | 1.18x | ฿19.18 Million |
| 2023 | 2.41% | 6.45% | 0.34x | 1.09x | ฿-33.84 Million |
| 2024 | 2.42% | 2.24% | 1.01x | 1.08x | ฿-34.64 Million |
Industry Comparison
This section compares T.R.V. Rubber Products PCL's net assets metrics with peer companies in the Auto Parts industry.
Industry Context
- Industry: Auto Parts
- Average net assets among peers: $1,824,130,983
- Average return on equity (ROE) among peers: 5.48%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| T.R.V. Rubber Products PCL (TRV) | ฿459.78 Million | 28.86% | 0.09x | $2.70 Million |
| AAPICO Hitech Public Company Limited (AH) | $4.52 Billion | 5.09% | 1.05x | $75.69 Million |
| CPR Gomu Industrial PCL (CPR) | $475.50 Million | 13.62% | 0.18x | $3.23 Million |
| Chai Watana Tannery Group Public Company Limited (CWT) | $755.29 Million | 3.98% | 1.02x | $8.58 Million |
| Fortune Parts Industry Public Company Limited (FPI) | $1.33 Billion | 15.39% | 1.11x | $17.95 Million |
| Goodyear (Thailand) Public Company Limited (GYT) | $2.88 Billion | 8.09% | 0.26x | $7.46 Million |
| Hwa Fong Rubber (Thailand) Public Company Limited (HFT) | $1.19 Billion | 0.00% | 0.28x | $37.35 Million |
| Interhides Public Company Limited (IHL) | $1.64 Billion | 3.49% | 1.44x | $6.94 Million |
| Ingress Industrial (Thailand) Public Company Limited (INGRS) | $2.46 Billion | -3.09% | 0.68x | $4.95 Million |
| Inoue Rubber (Thailand) Public Company Limited (IRC) | $2.05 Billion | 7.34% | 0.80x | $15.61 Million |
| N.D. Rubber Public Company Limited (NDR) | $946.85 Million | 0.86% | 0.29x | $8.48 Million |