Thai Beverage Public Company Limited
Thai Beverage Public Company Limited, together with its subsidiaries, produces and distributes alcoholic and non-alcoholic beverages, and food products in Thailand, Vietnam, Malaysia, Myanmar, Singapore, and internationally. It operates through Spirits, Beer, Non-Alcoholic Beverages, Food, and Others segments. The company offers beer; malt and yeast; spirits; mineral, drinking, and soda water; co… Read more
Thai Beverage Public Company Limited (TBVPF) - Net Assets
Latest net assets as of March 2025: $230.23 Billion USD
Based on the latest financial reports, Thai Beverage Public Company Limited (TBVPF) has net assets worth $230.23 Billion USD as of March 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($534.45 Billion) and total liabilities ($304.21 Billion). 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 | $230.23 Billion |
| % of Total Assets | 43.08% |
| Annual Growth Rate | -7.39% |
| 5-Year Change | -96.83% |
| 10-Year Change | -94.62% |
| Growth Volatility | 27.81 |
Thai Beverage Public Company Limited - Net Assets Trend (2004–2025)
This chart illustrates how Thai Beverage 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 Thai Beverage Public Company Limited (2004–2025)
The table below shows the annual net assets of Thai Beverage Public Company Limited from 2004 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-09-30 | $6.66 Billion | -97.09% |
| 2024-09-30 | $229.06 Billion | -5.16% |
| 2023-09-30 | $241.52 Billion | -3.15% |
| 2022-09-30 | $249.39 Billion | +18.66% |
| 2021-09-30 | $210.18 Billion | +17.15% |
| 2020-09-30 | $179.40 Billion | +19.34% |
| 2019-09-30 | $150.32 Billion | +6.94% |
| 2018-09-30 | $140.57 Billion | +6.08% |
| 2017-09-30 | $132.51 Billion | +7.11% |
| 2016-09-30 | $123.71 Billion | +3.73% |
| 2015-09-30 | $119.27 Billion | +13.94% |
| 2014-09-30 | $104.68 Billion | +6.82% |
| 2013-09-30 | $97.99 Billion | +15.32% |
| 2012-09-30 | $84.97 Billion | +33.78% |
| 2011-09-30 | $63.52 Billion | +9.08% |
| 2010-09-30 | $58.23 Billion | +3.16% |
| 2009-09-30 | $56.44 Billion | +4.53% |
| 2008-09-30 | $54.00 Billion | -1.66% |
| 2007-09-30 | $54.91 Billion | +4.48% |
| 2006-09-30 | $52.55 Billion | +67.55% |
| 2005-09-30 | $31.37 Billion | -5.98% |
| 2004-09-30 | $33.36 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Thai Beverage 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 61.5% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (September 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $4.34 Billion | 99.63% |
| Common Stock | $775.04 Million | 17.79% |
| Other Comprehensive Income | $-1.30 Billion | -29.85% |
| Other Components | $541.93 Million | 12.44% |
| Total Equity | $4.36 Billion | 100.00% |
Thai Beverage Public Company Limited Competitors by Market Cap
The table below lists competitors of Thai Beverage Public Company Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Ultra Clean Holdings Inc
NASDAQ:UCTT
|
$2.61 Billion |
|
BOCHGR
AT:BOCHGR
|
$2.61 Billion |
|
ALK-Abelló A/S
PINK:AKBLF
|
$2.61 Billion |
|
PHARMARON BEIJING H YC1
F:17Q1
|
$2.62 Billion |
|
Pangang Group Vanadium Titanium & Resources Co Ltd
SHE:000629
|
$2.61 Billion |
|
Concentra Group Holdings Parent, Inc.
NYSE:CON
|
$2.61 Billion |
|
Euronet Worldwide Inc
NASDAQ:EEFT
|
$2.61 Billion |
|
Sopra Steria Group SA
PINK:SPSAF
|
$2.61 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Thai Beverage Public Company Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 149,208,322,000 to 4,357,058,000, a change of -144,851,264,000 (-97.1%).
- Net income of 775,990,643 contributed positively to equity growth.
- Dividend payments of 476,750,547 reduced retained earnings.
- Share repurchases of 1,897,528 reduced equity.
- Other comprehensive income increased equity by 81,405,396,000.
- Other factors decreased equity by 226,554,002,568.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $775.99 Million | +17.81% |
| Dividends Paid | $476.75 Million | -10.94% |
| Share Repurchases | $1.90 Million | -0.04% |
| Other Comprehensive Income | $81.41 Billion | +1868.36% |
| Other Changes | $-226.55 Billion | -5199.7% |
| Total Change | $- | -97.08% |
Book Value vs Market Value Analysis
This analysis compares Thai Beverage 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: 2.08x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 0.24x to 2.08x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2004-09-30 | $1.51 | $0.36 | x |
| 2005-09-30 | $1.43 | $0.36 | x |
| 2006-09-30 | $2.20 | $0.36 | x |
| 2007-09-30 | $2.19 | $0.36 | x |
| 2008-09-30 | $2.13 | $0.36 | x |
| 2009-09-30 | $2.24 | $0.36 | x |
| 2010-09-30 | $2.31 | $0.36 | x |
| 2011-09-30 | $2.39 | $0.36 | x |
| 2012-09-30 | $3.24 | $0.36 | x |
| 2013-09-30 | $3.75 | $0.36 | x |
| 2014-09-30 | $4.03 | $0.36 | x |
| 2015-09-30 | $4.62 | $0.36 | x |
| 2016-09-30 | $4.78 | $0.36 | x |
| 2017-09-30 | $5.13 | $0.36 | x |
| 2018-09-30 | $4.82 | $0.36 | x |
| 2019-09-30 | $4.61 | $0.36 | x |
| 2020-09-30 | $5.68 | $0.36 | x |
| 2021-09-30 | $6.80 | $0.36 | x |
| 2022-09-30 | $8.19 | $0.36 | x |
| 2023-09-30 | $8.01 | $0.36 | x |
| 2024-09-30 | $5.94 | $0.36 | x |
| 2025-09-30 | $0.17 | $0.36 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Thai Beverage 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): 17.81%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.61%
- • Asset Turnover: 0.65x
- • Equity Multiplier: 3.62x
- Recent ROE (17.81%) is below the historical average (20.51%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2004 | 31.23% | 11.50% | 1.02x | 2.67x | $7.08 Billion |
| 2005 | 33.19% | 11.27% | 1.14x | 2.59x | $7.27 Billion |
| 2006 | 19.13% | 10.26% | 1.14x | 1.63x | $4.80 Billion |
| 2007 | 18.91% | 10.30% | 1.27x | 1.45x | $4.89 Billion |
| 2008 | 19.32% | 9.83% | 1.31x | 1.50x | $4.99 Billion |
| 2009 | 18.80% | 9.79% | 1.40x | 1.37x | $4.95 Billion |
| 2010 | 18.31% | 8.74% | 1.57x | 1.33x | $4.82 Billion |
| 2011 | 20.07% | 9.11% | 1.32x | 1.66x | $6.04 Billion |
| 2012 | 35.01% | 17.69% | 0.78x | 2.55x | $20.36 Billion |
| 2013 | 20.29% | 12.28% | 0.85x | 1.94x | $9.70 Billion |
| 2014 | 21.42% | 13.39% | 0.94x | 1.70x | $11.57 Billion |
| 2015 | 22.84% | 15.38% | 0.95x | 1.57x | $14.87 Billion |
| 2016 | 15.76% | 13.60% | 0.74x | 1.56x | $6.91 Billion |
| 2017 | 26.80% | 18.16% | 0.98x | 1.51x | $21.63 Billion |
| 2018 | 15.30% | 8.07% | 0.57x | 3.31x | $6.42 Billion |
| 2019 | 20.09% | 8.70% | 0.66x | 3.51x | $11.69 Billion |
| 2020 | 15.96% | 8.98% | 0.58x | 3.04x | $8.49 Billion |
| 2021 | 14.42% | 10.25% | 0.51x | 2.76x | $7.55 Billion |
| 2022 | 14.63% | 11.05% | 0.54x | 2.47x | $9.53 Billion |
| 2023 | 13.63% | 8.20% | 0.68x | 2.46x | $7.30 Billion |
| 2024 | 18.24% | 8.00% | 0.64x | 3.54x | $12.29 Billion |
| 2025 | 17.81% | 7.61% | 0.65x | 3.62x | $340.28 Million |
Industry Comparison
This section compares Thai Beverage Public Company Limited's net assets metrics with peer companies in the Beverages - Wineries & Distilleries industry.
Industry Context
- Industry: Beverages - Wineries & Distilleries
- Average net assets among peers: $2,654,533,832
- Average return on equity (ROE) among peers: 20.05%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Thai Beverage Public Company Limited (TBVPF) | $230.23 Billion | 31.23% | 1.32x | $2.61 Billion |
| Andrew Peller Limited (ADWPF) | $220.25 Million | 13.67% | 1.09x | $98.78 Million |
| Agencia Comercial Spirits Ltd Class A Ordinary Shares (AGCC) | $1.21 Million | 19.76% | 1.23x | $74.90 Million |
| Aristocrat Group Corp (ASCC) | $-358.17K | 0.00% | 0.00x | $74.46K |
| Australian Vintage Ltd (AUVGF) | $13.86 Million | 10.42% | 0.83x | $16.12 Million |
| Becle SA de CV (BCCLF) | $23.65 Billion | 22.45% | 0.63x | $555.00 Million |
| Brown-Forman Corporation (BF-A) | $634.00 Million | 25.24% | 1.18x | $7.60 Billion |
| Fitvia Corp (BRZV) | $-104.27K | 0.00% | 0.00x | $0.99 |
| Heritage Distilling Holding Company, Inc. Common Stock (CASK) | $791.77K | 89.73% | 34.36x | $14.08 Million |
| China Tontine Wines Group Limited (CATWF) | $1.85 Billion | 4.80% | 0.04x | $7.70 Million |
| Corby Spirit and Wine Limited (CBYDF) | $177.28 Million | 14.46% | 0.29x | $169.86 Million |