Varopakorn Public Company Limited (VARO) - Net Assets
Based on the latest financial reports, Varopakorn Public Company Limited (VARO) has net assets worth ฿949.43 Million THB (≈ $29.59 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 (฿1.84 Billion ≈ $57.21 Million USD) and total liabilities (฿886.04 Million ≈ $27.62 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 how strategically is Varopakorn Public Company Limited's equity deployed to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ฿949.43 Million |
| % of Total Assets | 51.73% |
| Annual Growth Rate | 1.9% |
| 5-Year Change | 16.14% |
| 10-Year Change | -14.12% |
| Growth Volatility | 9.9 |
Varopakorn Public Company Limited - Net Assets Trend (2000–2024)
This chart illustrates how Varopakorn Public Company Limited's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see market cap of Varopakorn Public Company Limited.
Annual Net Assets for Varopakorn Public Company Limited (2000–2024)
The table below shows the annual net assets of Varopakorn Public Company Limited from 2000 to 2024. Also explore how fast is Varopakorn Public Company Limited growing its equity to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ฿901.96 Million ≈ $28.11 Million |
+16.91% |
| 2023-12-31 | ฿771.53 Million ≈ $24.05 Million |
-12.17% |
| 2022-12-31 | ฿878.46 Million ≈ $27.38 Million |
+12.56% |
| 2021-12-31 | ฿780.46 Million ≈ $24.33 Million |
+0.50% |
| 2020-12-31 | ฿776.59 Million ≈ $24.21 Million |
-14.98% |
| 2019-12-31 | ฿913.38 Million ≈ $28.47 Million |
-15.21% |
| 2018-12-31 | ฿1.08 Billion ≈ $33.58 Million |
+0.71% |
| 2017-12-31 | ฿1.07 Billion ≈ $33.34 Million |
-0.03% |
| 2016-12-31 | ฿1.07 Billion ≈ $33.35 Million |
+1.87% |
| 2015-12-31 | ฿1.05 Billion ≈ $32.74 Million |
-2.55% |
| 2014-12-31 | ฿1.08 Billion ≈ $33.59 Million |
+0.34% |
| 2013-12-31 | ฿1.07 Billion ≈ $33.48 Million |
-8.72% |
| 2012-12-31 | ฿1.18 Billion ≈ $36.68 Million |
-7.03% |
| 2011-12-31 | ฿1.27 Billion ≈ $39.45 Million |
+1.59% |
| 2010-12-31 | ฿1.25 Billion ≈ $38.83 Million |
+1.15% |
| 2009-12-31 | ฿1.23 Billion ≈ $38.39 Million |
+5.30% |
| 2008-12-31 | ฿1.17 Billion ≈ $36.46 Million |
-0.86% |
| 2007-12-31 | ฿1.18 Billion ≈ $36.78 Million |
+3.78% |
| 2006-12-31 | ฿1.14 Billion ≈ $35.44 Million |
+8.32% |
| 2005-12-31 | ฿1.05 Billion ≈ $32.72 Million |
+6.93% |
| 2004-12-31 | ฿981.64 Million ≈ $30.60 Million |
+19.58% |
| 2003-12-31 | ฿820.93 Million ≈ $25.59 Million |
+6.04% |
| 2002-12-31 | ฿774.18 Million ≈ $24.13 Million |
+7.26% |
| 2001-12-31 | ฿721.76 Million ≈ $22.50 Million |
+25.85% |
| 2000-12-31 | ฿573.53 Million ≈ $17.88 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Varopakorn 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 decreased by 17873837700.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | ฿1.08 Billion | 119.82% |
| Total Equity | ฿901.96 Million | 100.00% |
Varopakorn Public Company Limited Competitors by Market Cap
The table below lists competitors of Varopakorn Public Company Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Palatin Technologies, Inc. Common Stock
NASDAQ:PTN
|
$19.32 Million |
|
Posco C&C Stl
KO:058430
|
$19.32 Million |
|
Teck Guan Perdana Bhd
KLSE:7439
|
$19.33 Million |
|
Mirae ING Co Ltd
KO:007120
|
$19.33 Million |
|
Cavendish Hydrogen ASA
OL:CAVEN
|
$19.31 Million |
|
Adore Beauty Group Ltd
AU:ABY
|
$19.28 Million |
|
TryHard Holdings Limited Ordinary Shares
NASDAQ:THH
|
$19.27 Million |
|
Austem Company Ltd
KQ:031510
|
$19.26 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Varopakorn Public Company Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 771,532,017 to 901,962,898, a change of 130,430,881 (16.9%).
- Net income of 130,430,881 contributed positively to equity growth.
- Other comprehensive income decreased equity by 206,790,660.
- Other factors increased equity by 206,790,660.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿130.43 Million | +14.46% |
| Other Comprehensive Income | ฿-206.79 Million | -22.93% |
| Other Changes | ฿206.79 Million | +22.93% |
| Total Change | ฿- | 16.91% |
Book Value vs Market Value Analysis
This analysis compares Varopakorn 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: 0.69x
- 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 increased from 0.54x to 0.69x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-12-31 | ฿11.38 | ฿6.20 | x |
| 2007-12-31 | ฿11.81 | ฿6.20 | x |
| 2008-12-31 | ฿11.71 | ฿6.20 | x |
| 2009-12-31 | ฿12.33 | ฿6.20 | x |
| 2010-12-31 | ฿12.47 | ฿6.20 | x |
| 2011-12-31 | ฿12.67 | ฿6.20 | x |
| 2012-12-31 | ฿11.78 | ฿6.20 | x |
| 2013-12-31 | ฿10.75 | ฿6.20 | x |
| 2014-12-31 | ฿10.79 | ฿6.20 | x |
| 2015-12-31 | ฿10.51 | ฿6.20 | x |
| 2016-12-31 | ฿10.71 | ฿6.20 | x |
| 2017-12-31 | ฿10.71 | ฿6.20 | x |
| 2018-12-31 | ฿10.78 | ฿6.20 | x |
| 2019-12-31 | ฿9.14 | ฿6.20 | x |
| 2020-12-31 | ฿7.77 | ฿6.20 | x |
| 2021-12-31 | ฿7.81 | ฿6.20 | x |
| 2022-12-31 | ฿8.79 | ฿6.20 | x |
| 2023-12-31 | ฿7.72 | ฿6.20 | x |
| 2024-12-31 | ฿9.03 | ฿6.20 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Varopakorn 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): 14.46%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.37%
- • Asset Turnover: 1.19x
- • Equity Multiplier: 2.78x
- Recent ROE (14.46%) is above the historical average (2.10%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 11.50% | 6.23% | 0.93x | 1.99x | ฿8.61 Million |
| 2001 | 20.54% | 10.78% | 1.18x | 1.61x | ฿76.06 Million |
| 2002 | 10.26% | 7.19% | 0.85x | 1.67x | ฿2.00 Million |
| 2003 | 6.35% | 4.77% | 0.80x | 1.66x | ฿-29.94 Million |
| 2004 | 19.40% | 10.51% | 1.10x | 1.67x | ฿92.25 Million |
| 2005 | 9.59% | 5.80% | 0.90x | 1.85x | ฿-4.28 Million |
| 2006 | 9.56% | 5.30% | 0.93x | 1.95x | ฿-4.97 Million |
| 2007 | 4.97% | 2.78% | 1.00x | 1.78x | ฿-59.38 Million |
| 2008 | 0.24% | 0.15% | 0.93x | 1.75x | ฿-114.20 Million |
| 2009 | 5.03% | 4.26% | 0.70x | 1.69x | ฿-61.21 Million |
| 2010 | 2.59% | 1.62% | 0.93x | 1.71x | ฿-92.31 Million |
| 2011 | 4.21% | 2.82% | 0.89x | 1.68x | ฿-73.31 Million |
| 2012 | -5.91% | -3.89% | 0.79x | 1.94x | ฿-187.21 Million |
| 2013 | -8.99% | -6.74% | 0.76x | 1.77x | ฿-204.00 Million |
| 2014 | 0.27% | 0.19% | 0.80x | 1.83x | ฿-104.83 Million |
| 2015 | -2.62% | -1.84% | 0.92x | 1.54x | ฿-132.51 Million |
| 2016 | 1.73% | 1.26% | 0.86x | 1.60x | ฿-88.53 Million |
| 2017 | 1.09% | 0.75% | 0.83x | 1.77x | ฿-95.27 Million |
| 2018 | 2.56% | 1.54% | 0.95x | 1.75x | ฿-80.13 Million |
| 2019 | -16.30% | -9.49% | 0.91x | 1.88x | ฿-240.21 Million |
| 2020 | -17.80% | -13.54% | 0.62x | 2.12x | ฿-215.86 Million |
| 2021 | 0.50% | 0.15% | 0.91x | 3.64x | ฿-74.17 Million |
| 2022 | -6.69% | -1.57% | 1.61x | 2.66x | ฿-146.64 Million |
| 2023 | -14.06% | -4.32% | 1.20x | 2.72x | ฿-185.66 Million |
| 2024 | 14.46% | 4.37% | 1.19x | 2.78x | ฿40.23 Million |
Industry Comparison
This section compares Varopakorn Public Company Limited's net assets metrics with peer companies in the Aluminum industry.
Industry Context
- Industry: Aluminum
- Average net assets among peers: $7,510,859,586
- Average return on equity (ROE) among peers: 13.51%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Varopakorn Public Company Limited (VARO) | ฿949.43 Million | 11.50% | 0.93x | $19.31 Million |
| Alucon Public Company Limited (ALUCON) | $7.51 Billion | 13.51% | 0.13x | $346.05 Million |
About Varopakorn Public Company Limited
Varopakorn Public Company Limited engages in the manufacture and distribution of semi-finished aluminum products in Thailand, Asia, Oceania, the United States, and Europe. The company offers automotive finstocks for manufacturing radiator fins, intercoolers, condensers, and evaporator units in the automotive industry; precoated finstocks used for preventing water formation; bare finstocks to prod… Read more