Bangkok Expressway and Metro PCL F (B4X) - Net Assets

Latest as of March 2026: €37.93 Billion EUR ≈ $44.35 Billion USD

Based on the latest financial reports, Bangkok Expressway and Metro PCL F (B4X) has net assets worth €37.93 Billion EUR (≈ $44.35 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€170.93 Billion ≈ $199.84 Billion USD) and total liabilities (€133.00 Billion ≈ $155.49 Billion 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 Bangkok Expressway and Metro PCL F strategic capital allocation to assess the company's strategic physical and investment asset allocation.

Key Net Assets Metrics

Metric	Value
Current Net Assets	€37.93 Billion
% of Total Assets	22.19%
Annual Growth Rate	2.44%
5-Year Change	-1.84%
10-Year Change	N/A
Growth Volatility	5.41

Bangkok Expressway and Metro PCL F - Net Assets Trend (2016–2025)

This chart illustrates how Bangkok Expressway and Metro PCL F's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see Bangkok Expressway and Metro PCL F market cap and net worth.

Annual Net Assets for Bangkok Expressway and Metro PCL F (2016–2025)

The table below shows the annual net assets of Bangkok Expressway and Metro PCL F from 2016 to 2025. Also explore net asset momentum of Bangkok Expressway and Metro PCL F to track the company's year-over-year net asset growth rate.

Year	Net Assets	Change
2025-12-31	€37.00 Billion ≈ $43.26 Billion	+1.21%
2024-12-31	€36.56 Billion ≈ $42.74 Billion	-2.93%
2023-12-31	€37.66 Billion ≈ $44.03 Billion	+1.08%
2022-12-31	€37.26 Billion ≈ $43.57 Billion	-1.15%
2021-12-31	€37.70 Billion ≈ $44.07 Billion	-0.88%
2020-12-31	€38.03 Billion ≈ $44.47 Billion	-2.03%
2019-12-31	€38.82 Billion ≈ $45.39 Billion	+9.02%
2018-12-31	€35.61 Billion ≈ $41.63 Billion	+14.22%
2017-12-31	€31.18 Billion ≈ $36.45 Billion	+4.69%
2016-12-31	€29.78 Billion ≈ $34.82 Billion	--

Equity Component Analysis

This analysis shows how different components contribute to Bangkok Expressway and Metro PCL F'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 117.2% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	€18.88 Billion	51.04%
Other Components	€18.12 Billion	48.96%
Total Equity	€37.00 Billion	100.00%

Bangkok Expressway and Metro PCL F Competitors by Market Cap

The table below lists competitors of Bangkok Expressway and Metro PCL F ranked by their market capitalization.

Company	Market Cap
Quantum-Si incorporated NASDAQ:QSIAW	$1.99K
Landsea Homes Corporation NASDAQ:LSEAW	$2.04K
Binh Duong Construction & Civil Engineering JSC VN:BCE	$2.06K
SDM SE XETRA:75S	$2.22K
Major Cineplex Group Public Company Limited F:MJG1	$1.89K
Hannun SA MC:HAN	$1.85K
Arrival NASDAQ:ARVLF	$1.84K
Infotrust Ltd AU:ITS	$1.75K

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Bangkok Expressway and Metro PCL F's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 36,558,553,086 to 37,001,470,789, a change of 442,917,703 (1.2%).
Net income of 3,780,809,937 contributed positively to equity growth.
Dividend payments of 2,246,681,475 reduced retained earnings.
Other factors decreased equity by 1,091,210,759.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	€3.78 Billion	+10.22%
Dividends Paid	€2.25 Billion	-6.07%
Other Changes	€-1.09 Billion	-2.95%
Total Change	€-	1.21%

Book Value vs Market Value Analysis

This analysis compares Bangkok Expressway and Metro PCL F'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: 0.07x
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
2017-12-31	€2.03	€0.17	x
2018-12-31	€2.32	€0.17	x
2019-12-31	€2.54	€0.17	x
2020-12-31	€2.49	€0.17	x
2021-12-31	€2.47	€0.17	x
2022-12-31	€2.44	€0.17	x
2023-12-31	€2.46	€0.17	x
2024-12-31	€2.44	€0.17	x
2025-12-31	€2.47	€0.17	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Bangkok Expressway and Metro PCL F 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): 10.22%
The company shows good efficiency in utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 22.35%
• Asset Turnover: 0.11x
• Equity Multiplier: 4.34x
Recent ROE (10.22%) is above the historical average (9.22%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2016	8.78%	19.89%	0.16x	2.79x	€-363.07 Million
2017	10.05%	20.61%	0.15x	3.18x	€16.31 Million
2018	14.98%	34.05%	0.15x	2.92x	€1.77 Billion
2019	14.01%	33.74%	0.14x	2.88x	€1.56 Billion
2020	5.40%	15.21%	0.12x	2.99x	€-1.75 Billion
2021	2.68%	9.42%	0.09x	3.05x	€-2.76 Billion
2022	6.54%	17.36%	0.12x	3.06x	€-1.29 Billion
2023	9.24%	21.24%	0.15x	2.99x	€-287.61 Million
2024	10.31%	22.16%	0.13x	3.63x	€112.15 Million
2025	10.22%	22.35%	0.11x	4.34x	€80.66 Million

Industry Comparison

This section compares Bangkok Expressway and Metro PCL F's net assets metrics with peer companies in the Railroads industry.

Industry Context

Industry: Railroads
Average net assets among peers: $304,973,509,168
Average return on equity (ROE) among peers: -3.80%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Bangkok Expressway and Metro PCL F (B4X)	€37.93 Billion	8.78%	3.51x	$1.90K
ALSTOM S.A. UNSP.ADR 1/10 (AOMU)	$8.78 Billion	-3.52%	2.79x	$9.13 Billion
CRRC Corporation Limited (C2L)	$158.83 Billion	7.43%	1.42x	$3.12 Billion
SBF AG (CY1K)	$36.84 Million	-1.76%	0.33x	$30.07 Million
EAST JP RAILW. ADR 1/6 (EJR0)	$2.50 Trillion	3.97%	2.74x	$21.61 Billion
Guangshen Railway Company Limited (GRCH)	$28.16 Billion	-1.98%	0.31x	$404.95 Million
HEBEI YICHEN GRP H YC 05 (HE2)	$2.39 Billion	-2.12%	0.46x	$7.50 Million
ÜSTRA Hannoversche Verkehrsbetriebe Aktiengesellschaft (HVB)	$257.76 Million	-26.54%	1.27x	$166.40 Million
China Railway Signal & Communication Corporation Limited (RS3)	$47.28 Billion	7.69%	1.47x	$736.56 Million
GETLINK ADR EO-40 (TNU)	$1.32 Billion	-17.37%	5.18x	$8.29 Billion

About Bangkok Expressway and Metro PCL F

F:B4X Germany Railroads

Market Cap

$1.90K

€1.63K EUR

Market Cap Rank

#31914 Global

#2902 in Germany

Share Price

€0.17

Change (1 day)

+2.48%

52-Week Range

€0.12 - €0.19

All Time High

€0.24