Thai Wah Public Company Limited
Thai Wah Public Company Limited, together with its subsidiaries, manufactures and distributes vermicelli, tapioca starch, and other food and agricultural products in Thailand, Vietnam, China, Cambodia, Indonesia, and India. It operates through Starch, Food, and Other segments. The company offers tapioca flour and starch, modified starch, glucose syrup, tapioca pearls, alpha starch, rich flour and… Read more
Thai Wah Public Company Limited (TWPC) - Net Assets
Latest net assets as of December 2025: ฿5.57 Billion THB
Based on the latest financial reports, Thai Wah Public Company Limited (TWPC) has net assets worth ฿5.57 Billion THB as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿8.11 Billion) and total liabilities (฿2.55 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 | ฿5.57 Billion |
| % of Total Assets | 68.61% |
| Annual Growth Rate | N/A |
| 5-Year Change | 0.57% |
| 10-Year Change | 4.12% |
| Growth Volatility | 48.15 |
Thai Wah Public Company Limited - Net Assets Trend (2000–2025)
This chart illustrates how Thai Wah 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 Wah Public Company Limited (2000–2025)
The table below shows the annual net assets of Thai Wah Public Company Limited from 2000 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ฿5.57 Billion | +7.82% |
| 2024-12-31 | ฿5.16 Billion | -4.32% |
| 2023-12-31 | ฿5.39 Billion | -4.42% |
| 2022-12-31 | ฿5.64 Billion | +1.99% |
| 2021-12-31 | ฿5.53 Billion | +6.30% |
| 2020-12-31 | ฿5.21 Billion | -1.69% |
| 2019-12-31 | ฿5.30 Billion | -9.73% |
| 2018-12-31 | ฿5.87 Billion | -0.68% |
| 2017-12-31 | ฿5.91 Billion | +10.50% |
| 2016-12-31 | ฿5.34 Billion | +8.62% |
| 2015-12-31 | ฿4.92 Billion | +221.96% |
| 2014-12-31 | ฿1.53 Billion | +11.08% |
| 2013-12-31 | ฿1.38 Billion | +20.19% |
| 2012-12-31 | ฿1.14 Billion | +14.26% |
| 2011-12-31 | ฿1.00 Billion | +10.69% |
| 2010-12-31 | ฿905.10 Million | +11.13% |
| 2009-12-31 | ฿814.47 Million | +21.84% |
| 2008-12-31 | ฿668.48 Million | +16.75% |
| 2007-12-31 | ฿572.58 Million | -20.08% |
| 2006-12-31 | ฿716.45 Million | +18.34% |
| 2005-12-31 | ฿605.44 Million | +133.11% |
| 2004-12-31 | ฿-1.83 Billion | -5.17% |
| 2003-12-31 | ฿-1.74 Billion | +34.42% |
| 2002-12-31 | ฿-2.65 Billion | +1.39% |
| 2001-12-31 | ฿-2.69 Billion | -22.46% |
| 2000-12-31 | ฿-2.20 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Thai Wah 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 1114.1% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿3.22 Billion | 66.77% |
| Other Components | ฿1.60 Billion | 33.23% |
| Total Equity | ฿4.82 Billion | 100.00% |
Thai Wah Public Company Limited Competitors by Market Cap
The table below lists competitors of Thai Wah Public Company Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Cpi Fim SA
WAR:OPG
|
$31.59 Million |
|
Altia Consultores S.A.
MC:ALC
|
$31.59 Million |
|
Aries Agro Limited
NSE:ARIES
|
$31.60 Million |
|
Red Planet Indonesia Tbk
JK:PSKT
|
$31.60 Million |
|
Muliang Viagoo Technology Inc
PINK:MULG
|
$31.58 Million |
|
Dawon Nexview Co., Ltd.
KQ:323350
|
$31.58 Million |
|
Unlu Yatirim Holding AS
IS:UNLU
|
$31.57 Million |
|
Mabion S.A.
WAR:MAB
|
$31.56 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Thai Wah Public Company Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 4,832,147,424 to 4,819,184,213, a change of -12,963,211 (-0.3%).
- Net income of 155,920,026 contributed positively to equity growth.
- Dividend payments of 50,147,564 reduced retained earnings.
- Other factors decreased equity by 118,735,673.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿155.92 Million | +3.24% |
| Dividends Paid | ฿50.15 Million | -1.04% |
| Other Changes | ฿-118.74 Million | -2.46% |
| Total Change | ฿- | -0.27% |
Book Value vs Market Value Analysis
This analysis compares Thai Wah 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: 0.51x
- 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 |
|---|---|---|---|
| 2005-12-31 | ฿6.37 | ฿2.78 | x |
| 2006-12-31 | ฿1.25 | ฿2.78 | x |
| 2007-12-31 | ฿6.02 | ฿2.78 | x |
| 2008-12-31 | ฿1.16 | ฿2.78 | x |
| 2009-12-31 | ฿8.57 | ฿2.78 | x |
| 2010-12-31 | ฿9.52 | ฿2.78 | x |
| 2011-12-31 | ฿10.54 | ฿2.78 | x |
| 2012-12-31 | ฿12.04 | ฿2.78 | x |
| 2013-12-31 | ฿14.47 | ฿2.78 | x |
| 2014-12-31 | ฿16.08 | ฿2.78 | x |
| 2015-12-31 | ฿5.39 | ฿2.78 | x |
| 2016-12-31 | ฿5.79 | ฿2.78 | x |
| 2017-12-31 | ฿6.07 | ฿2.78 | x |
| 2018-12-31 | ฿6.02 | ฿2.78 | x |
| 2019-12-31 | ฿5.70 | ฿2.78 | x |
| 2020-12-31 | ฿5.56 | ฿2.78 | x |
| 2021-12-31 | ฿5.86 | ฿2.78 | x |
| 2022-12-31 | ฿5.99 | ฿2.78 | x |
| 2023-12-31 | ฿5.73 | ฿2.78 | x |
| 2024-12-31 | ฿5.49 | ฿2.78 | x |
| 2025-12-31 | ฿5.47 | ฿2.78 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Thai Wah 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): 3.24%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.69%
- • Asset Turnover: 1.14x
- • Equity Multiplier: 1.68x
- Recent ROE (3.24%) is below the historical average (10.99%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2005 | 13.79% | 10.85% | 0.91x | 1.40x | ฿22.96 Million |
| 2006 | 11.42% | 10.30% | 0.86x | 1.29x | ฿10.19 Million |
| 2007 | 17.04% | 11.46% | 1.10x | 1.35x | ฿40.33 Million |
| 2008 | 21.70% | 14.13% | 1.18x | 1.30x | ฿77.99 Million |
| 2009 | 24.92% | 18.61% | 1.12x | 1.19x | ฿121.50 Million |
| 2010 | 19.44% | 17.35% | 0.97x | 1.15x | ฿85.44 Million |
| 2011 | 21.44% | 18.92% | 0.96x | 1.18x | ฿114.59 Million |
| 2012 | 19.56% | 18.25% | 0.89x | 1.21x | ฿109.42 Million |
| 2013 | 21.09% | 22.36% | 0.79x | 1.19x | ฿152.60 Million |
| 2014 | 15.45% | 18.35% | 0.71x | 1.18x | ฿83.24 Million |
| 2015 | 1.71% | 5.80% | 0.24x | 1.23x | ฿-393.26 Million |
| 2016 | 13.12% | 10.86% | 0.96x | 1.26x | ฿159.09 Million |
| 2017 | 9.22% | 7.87% | 0.88x | 1.33x | ฿-41.72 Million |
| 2018 | 3.71% | 2.72% | 1.02x | 1.33x | ฿-333.56 Million |
| 2019 | 1.87% | 1.28% | 0.93x | 1.57x | ฿-408.19 Million |
| 2020 | 0.78% | 0.54% | 0.87x | 1.66x | ฿-451.17 Million |
| 2021 | 6.26% | 3.55% | 1.06x | 1.67x | ฿-193.26 Million |
| 2022 | 5.66% | 2.86% | 1.19x | 1.66x | ฿-228.82 Million |
| 2023 | 0.94% | 0.46% | 1.09x | 1.86x | ฿-457.51 Million |
| 2024 | -1.48% | -0.71% | 1.18x | 1.76x | ฿-554.62 Million |
| 2025 | 3.24% | 1.69% | 1.14x | 1.68x | ฿-326.00 Million |
Industry Comparison
This section compares Thai Wah Public Company Limited's net assets metrics with peer companies in the Packaged Foods industry.
Industry Context
- Industry: Packaged Foods
- Average net assets among peers: $1,744,237,767
- Average return on equity (ROE) among peers: 12.13%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Thai Wah Public Company Limited (TWPC) | ฿5.57 Billion | 13.79% | 0.46x | $31.59 Million |
| Asian Alliance International PCL (AAI) | $4.88 Billion | 7.84% | 0.15x | $43.65 Million |
| ASIAN PALM OIL PUBLIC COMPANY LIMITED (APO) | $237.14 Million | 5.48% | 0.40x | $9.36 Million |
| Asian Sea Corporation Public Company Limited (ASIAN) | $3.50 Billion | 23.39% | 0.78x | $49.87 Million |
| Bioscience Animal Health PCL (BIS) | $790.50 Million | 6.41% | 0.55x | $4.82 Million |
| Seafresh Industry Public Company Limited (CFRESH) | $2.07 Billion | 0.95% | 1.32x | $8.09 Million |
| Chin Huay PCL (CH) | $1.37 Billion | 9.31% | 0.40x | $13.66 Million |
| CHAOSUA FOODS INDUSTRY PUBLIC COMPANY LIMITED (CHAO) | $597.83 Million | 27.03% | 0.46x | $12.59 Million |
| Kiang Huat Sea Gull Trading Frozen Food Public Company Limited (CHOTI) | $1.39 Billion | 14.18% | 0.11x | $3.48 Million |
| Chiangmai Frozen Foods Public Company Limited (CM) | $1.37 Billion | 7.17% | 0.11x | $6.08 Million |
| Thai Coconut Public Company Limited (COCOCO) | $1.24 Billion | 19.55% | 1.47x | $49.18 Million |