XSpring Capital Public Company Limited
XSpring Capital Public Company Limited, together with its subsidiaries, operates in the investment and securities business in Thailand and internationally. It operates through five segments: Securities, Fund Asset Management, Digital Assets, Asset Management, and Investment and Other segments. The company offers securities brokerage, securities and derivatives dealing, securities underwriting, fi… Read more
XSpring Capital Public Company Limited (XPG) - Net Assets
Latest net assets as of September 2025: ฿11.95 Billion THB
Based on the latest financial reports, XSpring Capital Public Company Limited (XPG) has net assets worth ฿11.95 Billion THB as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (฿12.31 Billion) and total liabilities (฿362.49 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 | ฿11.95 Billion |
| % of Total Assets | 97.06% |
| Annual Growth Rate | 10.4% |
| 5-Year Change | 361.73% |
| 10-Year Change | 407.93% |
| Growth Volatility | 66.62 |
XSpring Capital Public Company Limited - Net Assets Trend (2002–2024)
This chart illustrates how XSpring Capital 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 XSpring Capital Public Company Limited (2002–2024)
The table below shows the annual net assets of XSpring Capital Public Company Limited from 2002 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ฿11.86 Billion | +10.22% |
| 2023-12-31 | ฿10.76 Billion | +3.11% |
| 2022-12-31 | ฿10.44 Billion | +0.34% |
| 2021-12-31 | ฿10.40 Billion | +304.91% |
| 2020-12-31 | ฿2.57 Billion | -0.44% |
| 2019-12-31 | ฿2.58 Billion | +25.73% |
| 2018-12-31 | ฿2.05 Billion | -12.91% |
| 2017-12-31 | ฿2.36 Billion | -11.88% |
| 2016-12-31 | ฿2.67 Billion | +14.51% |
| 2015-12-31 | ฿2.34 Billion | -3.02% |
| 2014-12-31 | ฿2.41 Billion | +1.36% |
| 2013-12-31 | ฿2.38 Billion | +32.71% |
| 2012-12-31 | ฿1.79 Billion | +2.44% |
| 2011-12-31 | ฿1.75 Billion | -13.78% |
| 2009-12-31 | ฿2.03 Billion | -19.76% |
| 2008-12-31 | ฿2.53 Billion | -9.02% |
| 2007-12-31 | ฿2.78 Billion | -5.77% |
| 2006-12-31 | ฿2.95 Billion | -3.76% |
| 2005-12-31 | ฿3.06 Billion | -0.18% |
| 2004-12-31 | ฿3.07 Billion | +41.64% |
| 2003-12-31 | ฿2.17 Billion | +60.83% |
| 2002-12-31 | ฿1.35 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to XSpring Capital 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 65.6% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ฿83.80 Million | 0.71% |
| Other Components | ฿11.78 Billion | 99.29% |
| Total Equity | ฿11.86 Billion | 100.00% |
XSpring Capital Public Company Limited Competitors by Market Cap
The table below lists competitors of XSpring Capital Public Company Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Taaleri Oyj
HE:TAALA
|
$108.53 Million |
|
SUI Group Holdings Limited
NASDAQ:SUIG
|
$108.54 Million |
|
GKW Limited
NSE:GKWLIMITED
|
$108.56 Million |
|
JAPFA LTD
F:1O4
|
$108.60 Million |
|
Quess Corp Limited
NSE:QUESS
|
$108.52 Million |
|
Jiangsu Cowin Biotech Co. Ltd. A
SHG:688426
|
$108.49 Million |
|
Ca Toulouse 31 CCI
PA:CAT31
|
$108.47 Million |
|
Hap Seng Plantations Holdings Bhd
KLSE:5138
|
$108.46 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in XSpring Capital Public Company Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 10,763,944,217 to 11,863,935,812, a change of 1,099,991,595 (10.2%).
- Net income of 160,835,110 contributed positively to equity growth.
- New share issuances of 965,039,679 increased equity.
- Other comprehensive income increased equity by 103,276,153.
- Other factors decreased equity by 129,159,347.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ฿160.84 Million | +1.36% |
| Share Issuances | ฿965.04 Million | +8.13% |
| Other Comprehensive Income | ฿103.28 Million | +0.87% |
| Other Changes | ฿-129.16 Million | -1.09% |
| Total Change | ฿- | 10.22% |
Book Value vs Market Value Analysis
This analysis compares XSpring Capital 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: 0.42x
- 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 0.69x to 0.42x 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 | ฿0.68 | ฿0.47 | x |
| 2003-12-31 | ฿1.02 | ฿0.47 | x |
| 2004-12-31 | ฿1.19 | ฿0.47 | x |
| 2005-12-31 | ฿1.25 | ฿0.47 | x |
| 2006-12-31 | ฿1.19 | ฿0.47 | x |
| 2007-12-31 | ฿1.15 | ฿0.47 | x |
| 2008-12-31 | ฿1.01 | ฿0.47 | x |
| 2009-12-31 | ฿0.81 | ฿0.47 | x |
| 2010-12-31 | ฿0.69 | ฿0.47 | x |
| 2011-12-31 | ฿0.79 | ฿0.47 | x |
| 2012-12-31 | ฿0.71 | ฿0.47 | x |
| 2013-12-31 | ฿0.86 | ฿0.47 | x |
| 2014-12-31 | ฿0.74 | ฿0.47 | x |
| 2015-12-31 | ฿0.72 | ฿0.47 | x |
| 2016-12-31 | ฿0.83 | ฿0.47 | x |
| 2017-12-31 | ฿0.73 | ฿0.47 | x |
| 2018-12-31 | ฿0.63 | ฿0.47 | x |
| 2019-12-31 | ฿0.61 | ฿0.47 | x |
| 2020-12-31 | ฿0.58 | ฿0.47 | x |
| 2021-12-31 | ฿1.69 | ฿0.47 | x |
| 2022-12-31 | ฿1.12 | ฿0.47 | x |
| 2023-12-31 | ฿1.11 | ฿0.47 | x |
| 2024-12-31 | ฿1.11 | ฿0.47 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently XSpring Capital 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): 1.36%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 19.82%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 1.04x
- Recent ROE (1.36%) is below the historical average (4.54%), 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 | 17.95% | 26.57% | 0.53x | 1.28x | ฿106.64 Million |
| 2003 | 33.82% | 34.31% | 0.34x | 2.86x | ฿514.29 Million |
| 2004 | 16.44% | 27.58% | 0.46x | 1.30x | ฿197.24 Million |
| 2005 | 6.08% | 16.54% | 0.26x | 1.41x | ฿-119.90 Million |
| 2006 | 5.30% | 15.67% | 0.26x | 1.30x | ฿-138.57 Million |
| 2007 | 1.78% | 5.94% | 0.23x | 1.30x | ฿-228.36 Million |
| 2008 | -6.87% | -20.66% | 0.28x | 1.17x | ฿-426.19 Million |
| 2009 | 0.84% | 4.12% | 0.19x | 1.09x | ฿-185.78 Million |
| 2010 | 3.95% | 56.25% | 0.07x | 0.98x | ฿-102.87 Million |
| 2011 | 1.32% | 44.98% | 0.03x | 1.13x | ฿-151.24 Million |
| 2012 | 5.53% | 193.00% | 0.03x | 1.11x | ฿-79.76 Million |
| 2013 | 5.66% | 462.37% | 0.01x | 1.10x | ฿-103.00 Million |
| 2014 | 6.57% | 164.50% | 0.04x | 1.10x | ฿-82.71 Million |
| 2015 | 2.55% | 43.81% | 0.04x | 1.50x | ฿-173.95 Million |
| 2016 | 8.49% | 140.25% | 0.05x | 1.25x | ฿-40.45 Million |
| 2017 | 0.42% | 3.57% | 0.09x | 1.36x | ฿-225.82 Million |
| 2018 | -9.54% | 0.00% | -0.05x | 1.35x | ฿-401.10 Million |
| 2019 | 3.15% | 85.45% | 0.03x | 1.14x | ฿-176.75 Million |
| 2020 | -0.65% | -28.80% | 0.02x | 1.15x | ฿-273.56 Million |
| 2021 | 0.85% | 70.09% | 0.01x | 1.05x | ฿-952.29 Million |
| 2022 | -1.64% | 0.00% | 0.00x | 1.04x | ฿-1.22 Billion |
| 2023 | 0.99% | 20.15% | 0.05x | 1.04x | ฿-970.30 Million |
| 2024 | 1.36% | 19.82% | 0.07x | 1.04x | ฿-1.03 Billion |
Industry Comparison
This section compares XSpring Capital Public Company Limited's net assets metrics with peer companies in the Capital Markets industry.
Industry Context
- Industry: Capital Markets
- Average net assets among peers: $2,744,960,571
- Average return on equity (ROE) among peers: 8.18%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| XSpring Capital Public Company Limited (XPG) | ฿11.95 Billion | 17.95% | 0.03x | $108.52 Million |
| AIRA Capital Public Company Limited (AIRA) | $1.11 Billion | 8.11% | 3.78x | $60.05 Million |
| Asia Plus Group Holdings PCL (ASP) | $4.44 Billion | 24.06% | 0.73x | $93.67 Million |
| Beyond Securities PCL (BYD) | $927.92 Million | -4.32% | 0.24x | $46.15 Million |
| Country Group Holdings Public Company Limited (CGH) | $3.38 Billion | 12.43% | 0.41x | $29.38 Million |
| Globlex Holding Management Public Company Limited (GBX) | $1.44 Billion | 2.99% | 1.04x | $8.78 Million |
| KGI Securities (Thailand) Public Company Limited (KGI) | $5.56 Billion | 1.15% | 0.34x | $160.61 Million |
| Maybank Securities (Thailand) PCL (MST) | $4.42 Billion | 14.80% | 0.62x | $18.74 Million |
| Trinity Watthana Public Company Limited (TNITY) | $1.60 Billion | 8.17% | 2.16x | $9.36 Million |
| UOB Kay Hian Securities (Thailand) Public Company Limited (UOBKH) | $1.83 Billion | 6.24% | 0.23x | $8.84 Million |