Thai Solar Energy Public Company Limited (TSE) - Net Assets
Based on the latest financial reports, Thai Solar Energy Public Company Limited (TSE) has net assets worth ฿3.14 Billion THB (≈ $97.83 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿8.15 Billion ≈ $254.11 Million USD) and total liabilities (฿5.01 Billion ≈ $156.28 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 Thai Solar Energy Public Company Limited (TSE) liquid assets ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ฿3.14 Billion |
| % of Total Assets | 38.5% |
| Annual Growth Rate | 12.06% |
| 5-Year Change | -49.52% |
| 10-Year Change | -26.04% |
| Growth Volatility | 76.73 |
Thai Solar Energy Public Company Limited - Net Assets Trend (2012–2024)
This chart illustrates how Thai Solar Energy Public Company Limited's net assets have evolved over time, based on quarterly financial data. Also explore TSE current and non-current assets for the complete picture of this company's asset base.
Annual Net Assets for Thai Solar Energy Public Company Limited (2012–2024)
The table below shows the annual net assets of Thai Solar Energy Public Company Limited from 2012 to 2024. For live valuation and market cap data, see Thai Solar Energy Public Company Limited (TSE) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ฿2.99 Billion ≈ $93.14 Million |
-17.49% |
| 2023-12-31 | ฿3.62 Billion ≈ $112.88 Million |
-43.79% |
| 2022-12-31 | ฿6.44 Billion ≈ $200.81 Million |
+1.47% |
| 2021-12-31 | ฿6.35 Billion ≈ $197.90 Million |
+7.27% |
| 2020-12-31 | ฿5.92 Billion ≈ $184.50 Million |
+5.10% |
| 2019-12-31 | ฿5.63 Billion ≈ $175.55 Million |
+14.60% |
| 2018-12-31 | ฿4.91 Billion ≈ $153.18 Million |
+2.80% |
| 2017-12-31 | ฿4.78 Billion ≈ $149.01 Million |
+4.26% |
| 2016-12-31 | ฿4.59 Billion ≈ $142.92 Million |
+13.49% |
| 2015-12-31 | ฿4.04 Billion ≈ $125.93 Million |
+15.85% |
| 2014-12-31 | ฿3.49 Billion ≈ $108.70 Million |
+273.17% |
| 2013-12-31 | ฿934.57 Million ≈ $29.13 Million |
+22.59% |
| 2012-12-31 | ฿762.37 Million ≈ $23.76 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Thai Solar Energy 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 22966776100.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿71.38 Million | 2.39% |
| Other Components | ฿2.91 Billion | 97.61% |
| Total Equity | ฿2.99 Billion | 100.00% |
Thai Solar Energy Public Company Limited Competitors by Market Cap
The table below lists competitors of Thai Solar Energy Public Company Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
IXAQF
NASDAQ:IXAQF
|
$56.72 Million |
|
KUYA SILVER CORP.
F:6MR1
|
$56.73 Million |
|
Tirupati Forge Limited
NSE:TIRUPATIFL
|
$56.74 Million |
|
WIZIT Co. Ltd
KQ:036090
|
$56.75 Million |
|
Litemax Electronics
TWO:4995
|
$56.68 Million |
|
Atakule Gayrimenkul Yatirim Ortakligi AS
IS:AGYO
|
$56.68 Million |
|
C-Tech United
TWO:3625
|
$56.66 Million |
|
Osmond Resources Ltd
AU:OSM
|
$56.64 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Thai Solar Energy Public Company Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,621,562,510 to 2,985,922,871, a change of -635,639,639 (-17.6%).
- Net loss of 501,213,437 reduced equity.
- Dividend payments of 105,885,814 reduced retained earnings.
- Share repurchases of 2,339,010 reduced equity.
- New share issuances of 2,422,500 increased equity.
- Other comprehensive income decreased equity by 172,848,024.
- Other factors increased equity by 144,224,146.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿-501.21 Million | -16.79% |
| Dividends Paid | ฿105.89 Million | -3.55% |
| Share Repurchases | ฿2.34 Million | -0.08% |
| Share Issuances | ฿2.42 Million | +0.08% |
| Other Comprehensive Income | ฿-172.85 Million | -5.79% |
| Other Changes | ฿144.22 Million | +4.83% |
| Total Change | ฿- | -17.55% |
Book Value vs Market Value Analysis
This analysis compares Thai Solar Energy 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: 0.61x
- 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 |
|---|---|---|---|
| 2012-12-31 | ฿1.36 | ฿0.86 | x |
| 2013-12-31 | ฿0.49 | ฿0.86 | x |
| 2014-12-31 | ฿1.82 | ฿0.86 | x |
| 2015-12-31 | ฿2.10 | ฿0.86 | x |
| 2016-12-31 | ฿2.38 | ฿0.86 | x |
| 2017-12-31 | ฿2.42 | ฿0.86 | x |
| 2018-12-31 | ฿2.50 | ฿0.86 | x |
| 2019-12-31 | ฿2.89 | ฿0.86 | x |
| 2020-12-31 | ฿2.79 | ฿0.86 | x |
| 2021-12-31 | ฿3.00 | ฿0.86 | x |
| 2022-12-31 | ฿3.04 | ฿0.86 | x |
| 2023-12-31 | ฿1.71 | ฿0.86 | x |
| 2024-12-31 | ฿1.41 | ฿0.86 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Thai Solar Energy 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): -16.79%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -42.63%
- • Asset Turnover: 0.15x
- • Equity Multiplier: 2.59x
- Recent ROE (-16.79%) is below the historical average (-1.40%), 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 | -13.24% | -595.03% | 0.00x | 6.88x | ฿-177.21 Million |
| 2013 | -1.67% | -11.08% | 0.07x | 2.06x | ฿-109.08 Million |
| 2014 | 16.67% | 70.43% | 0.12x | 1.97x | ฿232.52 Million |
| 2015 | 13.03% | 408.65% | 0.03x | 1.20x | ฿122.56 Million |
| 2016 | 13.54% | 146.45% | 0.05x | 1.84x | ฿161.37 Million |
| 2017 | 9.00% | 181.55% | 0.02x | 2.65x | ฿-46.10 Million |
| 2018 | 3.65% | 30.99% | 0.04x | 3.08x | ฿-303.08 Million |
| 2019 | 13.76% | 57.42% | 0.08x | 2.82x | ฿211.78 Million |
| 2020 | 7.12% | 27.54% | 0.08x | 3.24x | ฿-170.30 Million |
| 2021 | 7.76% | 32.33% | 0.08x | 3.10x | ฿-142.23 Million |
| 2022 | 11.23% | 55.06% | 0.06x | 3.18x | ฿79.50 Million |
| 2023 | -82.31% | -252.50% | 0.12x | 2.83x | ฿-3.34 Billion |
| 2024 | -16.79% | -42.63% | 0.15x | 2.59x | ฿-799.81 Million |
Industry Comparison
This section compares Thai Solar Energy Public Company Limited's net assets metrics with peer companies in the Utilities - Renewable industry.
Industry Context
- Industry: Utilities - Renewable
- Average net assets among peers: $9,225,908,315
- Average return on equity (ROE) among peers: 18.23%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Thai Solar Energy Public Company Limited (TSE) | ฿3.14 Billion | -13.24% | 1.60x | $56.70 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 |
| TPI POLENE POWER (TPIPP-R) | $6.03 Billion | 12.32% | 0.19x | $596.95 Million |
About Thai Solar Energy Public Company Limited
Thai Solar Energy Public Company Limited generates and distributes electricity from solar and biomass power plants in Thailand. It operates solar farm, battery energy storage system, solar rooftop, and solar floating projects, as well as biomass powerplants. It serves government and private sector clients. The company also provides renewable energy, such as wind and waste energy, as well as inves… Read more