Pha Lai Thermal Power JSC Net Assets
Pha Lai Thermal Power JSC net assets. Based on the latest financial reports, Pha Lai Thermal Power JSC (PPC) has net assets worth ₫4.56 Trillion VND (≈ $173.33 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 (₫5.43 Trillion ≈ $206.23 Million USD) and total liabilities (₫865.81 Billion ≈ $32.90 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. Also explore PPC year-over-year net asset growth to track the company's year-over-year net asset growth rate.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₫4.56 Trillion |
| % of Total Assets | 84.05% |
| Annual Growth Rate | -4.69% |
| 5-Year Change | -7.89% |
| 10-Year Change | N/A |
| Growth Volatility | 11.24 |
Net Assets of Pha Lai Thermal Power JSC (2019–2025)
Net assets of Pha Lai Thermal Power JSC from 2019 to 2025. This chart illustrates how Pha Lai Thermal Power JSC's net assets have evolved over time, based on quarterly financial data. See Pha Lai Thermal Power JSC (PPC) balance sheet quality index to measure how much of total assets are equity-financed.
Annual Net Assets for Pha Lai Thermal Power JSC (2019–2025)
The table below shows the annual net assets of Pha Lai Thermal Power JSC from 2019 to 2025. For live market cap and overall valuation, see PPC market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ₫4.47 Trillion ≈ $169.87 Million |
-1.18% |
| 2024-12-31 | ₫4.52 Trillion ≈ $171.90 Million |
-9.71% |
| 2023-12-31 | ₫5.01 Trillion ≈ $190.38 Million |
-2.99% |
| 2022-12-31 | ₫5.17 Trillion ≈ $196.24 Million |
+6.40% |
| 2021-12-31 | ₫4.85 Trillion ≈ $184.43 Million |
-25.13% |
| 2020-12-31 | ₫6.48 Trillion ≈ $246.35 Million |
+8.70% |
| 2019-12-31 | ₫5.96 Trillion ≈ $226.63 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Pha Lai Thermal Power JSC'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 92.4% over the analyzed period, potentially due to dividend distributions or operating losses.
Pha Lai Thermal Power JSC Net Assets Breakdown (December 2025)
Pha Lai Thermal Power JSC net assets breakdown by equity component as of December 2025.
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₫194.88 Billion | 4.36% |
| Other Components | ₫4.28 Trillion | 95.64% |
| Total Equity | ₫4.47 Trillion | 100.00% |
Pha Lai Thermal Power JSC Competitors by Market Cap
The table below lists competitors of Pha Lai Thermal Power JSC ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Bank of the James Financial Group
NASDAQ:BOTJ
|
$106.00 Million |
|
HE Group Berhad
KLSE:0296
|
$106.05 Million |
|
Generation Mining Ltd
TO:GENM
|
$106.13 Million |
|
Kangnam Jevisco Co Ltd
KO:000860
|
$106.16 Million |
|
Tiong Nam Logistics Holdings Bhd
KLSE:8397
|
$105.83 Million |
|
Quintain Steel Co Ltd
TW:2017
|
$105.82 Million |
|
Saga Pure ASA
OL:SAGA
|
$105.81 Million |
|
Faraday Future Intelligent Electric Inc
NASDAQ:FFIE
|
$105.77 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Pha Lai Thermal Power JSC's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 4,524,331,964,197 to 4,471,059,236,546, a change of -53,272,727,651 (-1.2%).
- Net income of 169,857,937,710 contributed positively to equity growth.
- Dividend payments of 63,990,758,275 reduced retained earnings.
- Other factors decreased equity by 159,139,907,086.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₫169.86 Billion | +3.8% |
| Dividends Paid | ₫63.99 Billion | -1.43% |
| Other Changes | ₫-159.14 Billion | -3.56% |
| Total Change | ₫- | -1.18% |
Book Value vs Market Value Analysis
This analysis compares Pha Lai Thermal Power JSC'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: 0.62x
- 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 increased from 0.47x to 0.62x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2019-12-31 | ₫18604.49 | ₫8690.00 | x |
| 2020-12-31 | ₫20223.52 | ₫8690.00 | x |
| 2021-12-31 | ₫15140.52 | ₫8690.00 | x |
| 2022-12-31 | ₫16110.14 | ₫8690.00 | x |
| 2023-12-31 | ₫15628.86 | ₫8690.00 | x |
| 2024-12-31 | ₫14111.50 | ₫8690.00 | x |
| 2025-12-31 | ₫13945.34 | ₫8690.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Pha Lai Thermal Power JSC 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): 3.80%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 2.59%
- • Asset Turnover: 1.25x
- • Equity Multiplier: 1.17x
- Recent ROE (3.80%) is below the historical average (10.23%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | 21.14% | 15.41% | 1.13x | 1.22x | ₫664.38 Billion |
| 2020 | 15.59% | 12.75% | 1.10x | 1.12x | ₫362.64 Billion |
| 2021 | 4.45% | 5.59% | 0.71x | 1.12x | ₫-269.24 Billion |
| 2022 | 9.63% | 9.42% | 0.91x | 1.12x | ₫-19.31 Billion |
| 2023 | 7.59% | 6.54% | 1.01x | 1.15x | ₫-120.98 Billion |
| 2024 | 9.44% | 5.56% | 1.39x | 1.22x | ₫-25.37 Billion |
| 2025 | 3.80% | 2.59% | 1.25x | 1.17x | ₫-277.25 Billion |
Industry Comparison
This section compares Pha Lai Thermal Power JSC's net assets metrics with peer companies in the Utilities - Independent Power Producers industry.
Industry Context
- Industry: Utilities - Independent Power Producers
- Average net assets among peers: $13,316,465,034,120
- Average return on equity (ROE) among peers: 14.78%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Pha Lai Thermal Power JSC (PPC) | ₫4.56 Trillion | 21.14% | 0.19x | $105.86 Million |
| Petrovietnam Power Corp (POW) | $37.08 Trillion | 6.31% | 1.39x | $1.44 Billion |
| Thac Ba Hydropower JSC (TBC) | $1.36 Trillion | 13.04% | 0.11x | $74.67 Million |
| Thac Mo Hydropower JSC (TMP) | $1.50 Trillion | 24.99% | 0.18x | $129.65 Million |
About Pha Lai Thermal Power JSC
Pha Lai Thermal Power Joint Stock Company engages in the generation and sale of electricity business from thermal and natural coal fuel in Vietnam. The company was founded in 2006 and is headquartered in Hai Phong, Vietnam.