Thai Wacoal Public Company Limited (WACOAL) - Net Assets

Latest as of March 2026: ฿5.00 Billion THB ≈ $155.95 Million USD

Based on the latest financial reports, Thai Wacoal Public Company Limited (WACOAL) has net assets worth ฿5.00 Billion THB (≈ $155.95 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿5.93 Billion ≈ $184.86 Million USD) and total liabilities (฿927.57 Million ≈ $28.91 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 tangible equity quality of Thai Wacoal Public Company Limited to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	฿5.00 Billion
% of Total Assets	84.36%
Annual Growth Rate	3.31%
5-Year Change	-7.22%
10-Year Change	-8.54%
Growth Volatility	6.53

Thai Wacoal Public Company Limited - Net Assets Trend (2000–2025)

This chart illustrates how Thai Wacoal Public Company Limited's net assets have evolved over time, based on quarterly financial data. See Thai Wacoal Public Company Limited (WACOAL) defensive interval to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Thai Wacoal Public Company Limited (2000–2025)

The table below shows the annual net assets of Thai Wacoal Public Company Limited from 2000 to 2025. For live valuation and market cap data, see market cap of Thai Wacoal Public Company Limited.

Year	Net Assets	Change
2025-12-31	฿4.98 Billion ≈ $155.07 Million	-7.69%
2024-12-31	฿5.39 Billion ≈ $167.98 Million	-0.65%
2023-12-31	฿5.42 Billion ≈ $169.08 Million	-2.12%
2022-12-31	฿5.54 Billion ≈ $172.75 Million	+3.36%
2021-12-31	฿5.36 Billion ≈ $167.14 Million	+0.26%
2020-12-31	฿5.35 Billion ≈ $166.71 Million	-7.12%
2019-12-31	฿5.76 Billion ≈ $179.48 Million	-0.91%
2018-12-31	฿5.81 Billion ≈ $181.13 Million	+0.80%
2017-12-31	฿5.77 Billion ≈ $179.69 Million	+5.98%
2016-12-31	฿5.44 Billion ≈ $169.55 Million	+5.01%
2015-12-31	฿5.18 Billion ≈ $161.46 Million	+1.28%
2014-12-31	฿5.11 Billion ≈ $159.41 Million	+2.25%
2013-12-31	฿5.00 Billion ≈ $155.91 Million	-5.51%
2012-12-31	฿5.29 Billion ≈ $165.00 Million	+7.97%
2011-12-31	฿4.90 Billion ≈ $152.82 Million	-2.65%
2010-12-31	฿5.04 Billion ≈ $156.98 Million	+5.42%
2009-12-31	฿4.78 Billion ≈ $148.91 Million	+3.99%
2008-12-31	฿4.59 Billion ≈ $143.20 Million	+5.20%
2007-12-31	฿4.37 Billion ≈ $136.12 Million	+2.21%
2006-12-31	฿4.27 Billion ≈ $133.17 Million	+5.94%
2005-12-31	฿4.03 Billion ≈ $125.70 Million	+6.42%
2004-12-31	฿3.79 Billion ≈ $118.11 Million	+9.92%
2003-12-31	฿3.45 Billion ≈ $107.45 Million	+21.31%
2002-12-31	฿2.84 Billion ≈ $88.57 Million	+11.73%
2001-12-31	฿2.54 Billion ≈ $79.27 Million	+15.28%
2000-12-31	฿2.21 Billion ≈ $68.77 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Thai Wacoal 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 118.3% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	฿3.49 Billion	70.12%
Common Stock	฿120.00 Million	2.41%
Other Comprehensive Income	฿1.07 Billion	21.49%
Other Components	฿297.19 Million	5.97%
Total Equity	฿4.97 Billion	100.00%

Thai Wacoal Public Company Limited Competitors by Market Cap

The table below lists competitors of Thai Wacoal Public Company Limited ranked by their market capitalization.

Company	Market Cap
Accelerate Property Fund Ltd JSE:APF	$57.61 Million
Microtips Technology TWO:3285	$57.63 Million
Paradigm Biopharmaceuticals Ltd AU:PAR	$57.63 Million
DHP Korea Co. Ltd KQ:131030	$57.63 Million
BranchOut Food Inc. Common Stock NASDAQ:BOF	$57.59 Million
Lion Finance Group PLC LSE:BGEO	$57.57 Million
Hil Industries Bhd KLSE:8443	$57.50 Million
Falcon Machine Tools Co Ltd TWO:4513	$57.47 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Thai Wacoal Public Company Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 5,389,165,172 to 4,974,943,507, a change of -414,221,665 (-7.7%).
Net loss of 134,784,492 reduced equity.
Dividend payments of 72,000,000 reduced retained earnings.
Other comprehensive income increased equity by 632,776,079.
Other factors decreased equity by 840,213,252.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	฿-134.78 Million	-2.71%
Dividends Paid	฿72.00 Million	-1.45%
Other Comprehensive Income	฿632.78 Million	+12.72%
Other Changes	฿-840.21 Million	-16.89%
Total Change	฿-	-7.69%

Book Value vs Market Value Analysis

This analysis compares Thai Wacoal 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: 0.37x
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 0.65x to 0.37x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2002-12-31	฿23.68	฿15.40	x
2003-12-31	฿28.73	฿15.40	x
2004-12-31	฿31.58	฿15.40	x
2005-12-31	฿33.61	฿15.40	x
2006-12-31	฿35.60	฿15.40	x
2007-12-31	฿36.39	฿15.40	x
2008-12-31	฿38.28	฿15.40	x
2009-12-31	฿39.81	฿15.40	x
2010-12-31	฿41.97	฿15.40	x
2011-12-31	฿40.86	฿15.40	x
2012-12-31	฿44.11	฿15.40	x
2013-12-31	฿41.68	฿15.40	x
2014-12-31	฿42.62	฿15.40	x
2015-12-31	฿43.17	฿15.40	x
2016-12-31	฿45.33	฿15.40	x
2017-12-31	฿48.04	฿15.40	x
2018-12-31	฿48.42	฿15.40	x
2019-12-31	฿47.98	฿15.40	x
2020-12-31	฿44.57	฿15.40	x
2021-12-31	฿44.69	฿15.40	x
2022-12-31	฿46.18	฿15.40	x
2023-12-31	฿45.20	฿15.40	x
2024-12-31	฿44.91	฿15.40	x
2025-12-31	฿41.46	฿15.40	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Thai Wacoal 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): -2.71%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: -4.53%
• Asset Turnover: 0.51x
• Equity Multiplier: 1.18x
Recent ROE (-2.71%) is below the historical average (5.48%), 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	11.08%	9.05%	0.98x	1.24x	฿30.72 Million
2003	11.29%	10.50%	0.89x	1.20x	฿44.36 Million
2004	9.80%	10.04%	0.84x	1.16x	฿-7.43 Million
2005	9.21%	9.88%	0.79x	1.18x	฿-31.73 Million
2006	9.24%	9.84%	0.82x	1.15x	฿-32.40 Million
2007	8.05%	9.88%	0.72x	1.13x	฿-85.10 Million
2008	9.63%	12.72%	0.67x	1.13x	฿-16.87 Million
2009	7.44%	10.78%	0.62x	1.11x	฿-122.44 Million
2010	7.08%	10.78%	0.59x	1.12x	฿-147.13 Million
2011	8.04%	10.68%	0.62x	1.22x	฿-96.33 Million
2012	7.88%	10.19%	0.64x	1.21x	฿-112.28 Million
2013	5.08%	7.01%	0.60x	1.20x	฿-245.84 Million
2014	5.41%	7.68%	0.56x	1.27x	฿-234.72 Million
2015	6.46%	8.42%	0.60x	1.27x	฿-183.62 Million
2016	5.72%	7.51%	0.62x	1.23x	฿-232.99 Million
2017	5.63%	7.44%	0.62x	1.23x	฿-251.82 Million
2018	6.12%	7.72%	0.64x	1.24x	฿-225.33 Million
2019	5.84%	6.89%	0.65x	1.30x	฿-239.74 Million
2020	-5.89%	-10.65%	0.44x	1.25x	฿-849.75 Million
2021	-2.69%	-4.45%	0.50x	1.20x	฿-680.67 Million
2022	1.86%	2.62%	0.60x	1.19x	฿-451.28 Million
2023	1.45%	2.17%	0.56x	1.18x	฿-463.97 Million
2024	0.45%	0.69%	0.55x	1.19x	฿-514.64 Million
2025	-2.71%	-4.53%	0.51x	1.18x	฿-632.28 Million

Industry Comparison

This section compares Thai Wacoal Public Company Limited's net assets metrics with peer companies in the Apparel Manufacturing industry.

Industry Context

Industry: Apparel Manufacturing
Average net assets among peers: $1,798,427,754
Average return on equity (ROE) among peers: 9.13%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Thai Wacoal Public Company Limited (WACOAL)	฿5.00 Billion	11.08%	0.19x	$57.60 Million
Castle Peak Holdings Public Company Limited (CPH)	$1.14 Billion	5.05%	0.52x	$9.54 Million
MC Group Public Company Limited (MC)	$4.08 Billion	17.96%	0.25x	$286.36 Million
New Plus Knitting Public Company Limited (NPK)	$436.61 Million	2.18%	0.12x	$3.99 Million
People's Garment Public Company Limited (PG)	$1.44 Billion	7.63%	0.16x	$21.99 Million
Sabina Public Company Limited (SABINA)	$1.90 Billion	12.83%	0.26x	$165.72 Million

About Thai Wacoal Public Company Limited

BK:WACOAL Thailand Apparel Manufacturing

Market Cap

$57.60 Million

฿1.85 Billion THB

Market Cap Rank

#21286 Global

#355 in Thailand

Share Price

฿15.40

Change (1 day)

+0.65%

52-Week Range

฿15.30 - ฿22.10

All Time High

฿49.40