Bangkok Expressway and Metro PCL F (B4X) - Net Assets
Based on the latest financial reports, Bangkok Expressway and Metro PCL F (B4X) has net assets worth €36.57 Billion EUR (≈ $42.75 Billion USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€151.11 Billion ≈ $176.67 Billion USD) and total liabilities (€114.55 Billion ≈ $133.92 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 (B4X) asset resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €36.57 Billion |
| % of Total Assets | 24.2% |
| Annual Growth Rate | 2.6% |
| 5-Year Change | -3.87% |
| 10-Year Change | N/A |
| Growth Volatility | 5.71 |
Bangkok Expressway and Metro PCL F - Net Assets Trend (2016–2024)
This chart illustrates how Bangkok Expressway and Metro PCL F's net assets have evolved over time, based on quarterly financial data. Also explore balance sheet size of Bangkok Expressway and Metro PCL F for the complete picture of this company's asset base.
Annual Net Assets for Bangkok Expressway and Metro PCL F (2016–2024)
The table below shows the annual net assets of Bangkok Expressway and Metro PCL F from 2016 to 2024. For live valuation and market cap data, see market cap of Bangkok Expressway and Metro PCL F.
| Year | Net Assets | Change |
|---|---|---|
| 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 |
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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 100.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €17.46 Billion | 47.75% |
| Other Components | €19.10 Billion | 52.25% |
| Total Equity | €36.56 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 |
|---|---|
|
BONAS IMPORT EXPORT S.A.
RO:BONA
|
$1.36K |
|
Ordinary Fully Paid Deferred Settlement
AU:VMLDB
|
$1.39K |
|
Bimi International Medical Inc
NASDAQ:BIMI
|
$1.40K |
|
Smart for Life, Inc. Common Stock
NASDAQ:SMFL
|
$1.42K |
|
Sonder Holdings Inc. Class A
NASDAQ:SONDQ
|
$1.33K |
|
Mazhar Zorlu Holding AS
IS:MZHLD
|
$1.32K |
|
Toughbuilt Industries Inc
NASDAQ:TBLT
|
$1.30K |
|
China Harmony Auto Holding Ltd
STU:HA5
|
$1.30K |
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 2023 to 2024, total equity changed from 37,662,644,227 to 36,558,553,086, a change of -1,104,091,141 (-2.9%).
- Net income of 3,768,005,117 contributed positively to equity growth.
- Dividend payments of 2,136,981,490 reduced retained earnings.
- Share repurchases of 2,451,692,698 reduced equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €3.77 Billion | +10.31% |
| Dividends Paid | €2.14 Billion | -5.85% |
| Share Repurchases | €2.45 Billion | -6.71% |
| Other Changes | €-283.42 Million | -0.78% |
| Total Change | €- | -2.93% |
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: 0.05x
- 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 | €0.12 | x |
| 2018-12-31 | €2.32 | €0.12 | x |
| 2019-12-31 | €2.54 | €0.12 | x |
| 2020-12-31 | €2.49 | €0.12 | x |
| 2021-12-31 | €2.47 | €0.12 | x |
| 2022-12-31 | €2.44 | €0.12 | x |
| 2023-12-31 | €2.46 | €0.12 | x |
| 2024-12-31 | €2.44 | €0.12 | 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): 10.31%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 22.16%
- • Asset Turnover: 0.13x
- • Equity Multiplier: 3.63x
- Recent ROE (10.31%) is above the historical average (9.11%), 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 |
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: $349,745,403,743
- Average return on equity (ROE) among peers: 0.67%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Bangkok Expressway and Metro PCL F (B4X) | €36.57 Billion | 8.78% | 3.13x | $1.34K |
| ALSTOM S.A. UNSP.ADR 1/10 (AOMU) | $10.58 Billion | 1.41% | 2.27x | $9.13 Billion |
| CRRC Corporation Limited (C2L) | $190.99 Billion | 6.10% | 1.32x | $3.12 Billion |
| SBF AG (CY1K) | $29.19 Million | 16.19% | 0.46x | $31.84 Million |
| EAST JP RAILW. ADR 1/6 (EJR0) | $2.87 Trillion | 7.81% | 2.54x | $21.61 Billion |
| Guangshen Railway Company Limited (GRCH) | $28.16 Billion | -1.98% | 0.31x | $414.99 Million |
| ÜSTRA Hannoversche Verkehrsbetriebe Aktiengesellschaft (HVB) | $36.24 Million | -47.50% | 11.13x | $187.98 Million |
| China Railway Signal & Communication Corporation Limited (RS3) | $10.00 Billion | 12.61% | 1.16x | $856.25 Million |
| Vossloh AG (VOS) | $414.50 Million | 4.15% | 1.93x | $1.35 Billion |
| Zhuzhou CRRC Times Electric Co. Ltd (ZTX) | $35.30 Billion | 7.24% | 0.37x | $2.18 Billion |
About Bangkok Expressway and Metro PCL F
Bangkok Expressway and Metro Public Company Limited, together with its subsidiaries, provides construction and management of expressways in Thailand. It operates through four segments: Expressway Business, Rail Business, Commercial Development Business, and Others. The company engages in the construction and operation of expressway; and operation of rapid transit systems. It provides retail space… Read more