Pacific Pipe Public Company Limited (PAP) — Working Capital to Net Assets Ratio
Pacific Pipe Public Company Limited (PAP) has a Working Capital to Net Assets ratio of 33.6% as of December 2025. Working capital of ฿633.18 Million (current assets of ฿2.46 Billion minus current liabilities of ฿1.82 Billion) is measured against net assets of ฿1.89 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See Pacific Pipe Public Company Limited (PAP) flexibility index to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Pacific Pipe Public Company Limited Working Capital to Net Assets (2004–2025)
This chart shows how Pacific Pipe Public Company Limited's Working Capital to Net Assets ratio has evolved across 22 annual periods from 2004 to 2025. As of December 2025, the ratio stands at 33.6%, reflecting working capital of ฿633.18 Million against net assets of ฿1.89 Billion THB. See Pacific Pipe Public Company Limited defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Pacific Pipe Public Company Limited (2004–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Pacific Pipe Public Company Limited from 2004 to 2025, covering 22 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see Pacific Pipe Public Company Limited market capitalisation.
| Year | WC/NA Ratio | Working Capital (THB) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 33.6% | ฿633.18 Million | ฿1.89 Billion | ฿2.46 Billion | ฿1.82 Billion | ▲ +6.6 pp |
| 2024 | 26.9% | ฿486.52 Million | ฿1.81 Billion | ฿2.46 Billion | ฿1.97 Billion | ▼ -2.9 pp |
| 2023 | 29.9% | ฿600.52 Million | ฿2.01 Billion | ฿2.35 Billion | ฿1.75 Billion | ▲ +0.4 pp |
| 2022 | 29.4% | ฿601.25 Million | ฿2.04 Billion | ฿2.62 Billion | ฿2.02 Billion | ▼ -17.8 pp |
| 2021 | 47.2% | ฿1.38 Billion | ฿2.93 Billion | ฿3.71 Billion | ฿2.32 Billion | ▲ +12.3 pp |
| 2020 | 34.9% | ฿870.48 Million | ฿2.49 Billion | ฿2.73 Billion | ฿1.86 Billion | ▲ +3.8 pp |
| 2019 | 31.1% | ฿765.79 Million | ฿2.46 Billion | ฿2.56 Billion | ฿1.79 Billion | ▲ +2.9 pp |
| 2018 | 28.3% | ฿684.29 Million | ฿2.42 Billion | ฿3.03 Billion | ฿2.35 Billion | ▼ -2.1 pp |
| 2017 | 30.3% | ฿782.96 Million | ฿2.58 Billion | ฿2.89 Billion | ฿2.11 Billion | ▼ -16.8 pp |
| 2016 | 47.1% | ฿1.20 Billion | ฿2.56 Billion | ฿2.30 Billion | ฿1.10 Billion | ▼ -4.3 pp |
| 2015 | 51.4% | ฿1.03 Billion | ฿2.01 Billion | ฿1.86 Billion | ฿829.17 Million | ▲ +5.4 pp |
| 2014 | 46.0% | ฿994.29 Million | ฿2.16 Billion | ฿2.51 Billion | ฿1.51 Billion | ▼ -8.5 pp |
| 2013 | 54.5% | ฿1.22 Billion | ฿2.25 Billion | ฿2.31 Billion | ฿1.09 Billion | ▲ +9.5 pp |
| 2012 | 44.9% | ฿900.13 Million | ฿2.00 Billion | ฿2.94 Billion | ฿2.04 Billion | ▲ +4.2 pp |
| 2011 | 40.7% | ฿779.70 Million | ฿1.92 Billion | ฿2.30 Billion | ฿1.52 Billion | ▲ +3.9 pp |
| 2010 | 36.7% | ฿655.47 Million | ฿1.78 Billion | ฿2.12 Billion | ฿1.46 Billion | ▲ +1.6 pp |
| 2009 | 35.2% | ฿582.14 Million | ฿1.65 Billion | ฿1.93 Billion | ฿1.35 Billion | ▲ +1.8 pp |
| 2008 | 33.4% | ฿521.25 Million | ฿1.56 Billion | ฿1.19 Billion | ฿668.38 Million | ▼ -8.1 pp |
| 2007 | 41.5% | ฿639.92 Million | ฿1.54 Billion | ฿1.37 Billion | ฿732.47 Million | ▲ +0.9 pp |
| 2006 | 40.6% | ฿630.41 Million | ฿1.55 Billion | ฿1.35 Billion | ฿720.87 Million | ▼ -15.2 pp |
| 2005 | 55.8% | ฿794.15 Million | ฿1.42 Billion | ฿1.23 Billion | ฿432.90 Million | ▼ -18.1 pp |
| 2004 | 74.0% | ฿1.17 Billion | ฿1.58 Billion | ฿1.34 Billion | ฿176.29 Million | — |