Thai Companies Hold Nearly 104 Trillion Baht in Assets
In short
Thai companies reported 103.9 trillion baht in total assets for statement year 2025, the latest year with a complete set of filings, as of 14 August 2026. That balance sheet total sits on the books of 715,339 companies that filed a statement for the year. Equity covers only 36.98 percent of it. The remaining 63.02 percent, about 65.5 trillion baht, is liabilities such as loans and trade payables. Total assets have grown 78.6 percent over the past decade, a compound rate of 6.0 percent a year.
How much in assets do Thai companies hold?
Thailand's registered companies reported 103.9 trillion baht in total assets for statement year 2025, the most recent year with a full set of filings, according to the DBD registry as of 14 August 2026 (DBD, 2026). That balance sheet total sits on the books of 715,339 companies that filed a statement for the year. Equity covers only 36.98 percent of it. The remaining 63.02 percent, about 65.5 trillion baht, is liabilities such as loans, trade payables and other obligations owed to someone outside the company. Thailand's entire economy produced 18.58 trillion baht in 2024 (NESDC, 2025). Corporate assets on file with the registry now run close to 5.6 times that yearly output.
Total assets reported by statement year
Figures in trillion baht in total assets.
2018 jumps sharply as the registry's filing coverage expanded that year, the same effect that inflated reported revenue that year. Read that year as a coverage break, not a single year of real asset growth.
Total assets and filings by year
| Year | Companies filed | Total assets (trillion baht) |
|---|---|---|
| 2012 | 403,444 | 45.64 |
| 2013 | 433,671 | 50.43 |
| 2014 | 458,464 | 54.84 |
| 2015 | 480,268 | 58.15 |
| 2016 | 505,168 | 64.44 |
| 2017 | 535,469 | 66.50 |
| 2018 | 570,307 | 88.43 |
| 2019 | 594,830 | 80.60 |
| 2020 | 617,294 | 83.28 |
| 2021 | 648,550 | 91.02 |
| 2022 | 675,284 | 96.88 |
| 2023 | 705,512 | 99.78 |
| 2024 | 730,322 | 104.70 |
| 2025 | 715,339 | 103.88 |
Statement year converted from the Buddhist calendar, filing company count and total assets, as of 14 Aug 2026.
Why this matters
A balance sheet total this size stops being just a ratio input once you see it on its own. Total assets grew 78.6 percent between statement year 2015 and statement year 2025, but the number of filing companies grew 48.9 percent over the same stretch. Most of that growth is more companies entering the registry, not existing companies loading up on assets. Average assets per filing company rose only 19.9 percent in ten years, from about 121.1 million baht to 145.2 million baht. Liabilities carry close to two thirds of the whole balance sheet, a debt load that matters to every bank and supplier extending credit to a Thai counterpart. Thailand reports its GDP every quarter, yet the asset base sitting behind its company registry, more than five times that quarterly headline's annual total, rarely gets a number of its own.
Definitions
- Total assets
- Everything a company owns that has economic value, as reported on its filed balance sheet, including cash, receivables, inventory, property and equipment.
- Statement year
- The fiscal year a filed financial statement covers. The DBD registry records this in the Buddhist calendar, so statement year 2568 is calendar year 2025.
- Equity share of assets
- Total equity divided by total assets, showing what portion of a company's asset base is funded by owners rather than borrowed.
- Return on assets
- Net profit divided by total assets, a measure of how much profit a company generates from what it owns.
- Compound annual rate
- The steady yearly growth rate that would turn a starting value into an ending value over a given number of years if growth were constant every year.
Assumptions
- Only companies that filed a complete financial statement for a given year are counted, so totals exclude any company that registered but never filed.
- The most recent statement year, 2025, likely understates the eventual final total slightly because some filings for that year had not yet reached the registry as of this refresh.
- Total assets is an aggregate sum across all filing companies, so it is driven heavily by the largest balance sheets in the country, not a typical company's holdings.
- Statement year 2018 shows an unusual jump tied to expanded filing coverage that year rather than a genuine one year surge in company assets.
Methodology
Total assets is the sum of reported total assets across every company that filed a financial statement for Thai statement year 2568, which converts to calendar year 2025, drawn from the Department of Business Development registry as of 14 August 2026. Only companies with a complete statement for that year are counted, and the figures are aggregates across all filing companies, not an average of individual balance sheets. Filings for the most recent statement year keep arriving after the year closes, so later refreshes of the same year can report a slightly higher or lower total as more statements are added. Statement year 2569, the current incomplete year, is excluded entirely because only a small fraction of expected filings had arrived as of this refresh.
How we verified this
- Equity plus implied liabilities reconciles to total assets: 38,410,637,897,509.66 plus 65,464,629,352,686.27 equals 103,875,267,250,195.93 baht.
- Equity share recomputed as 38,410,637,897,509.66 divided by 103,875,267,250,195.93 equals 36.98 percent, and liabilities share is 100 minus that, 63.02 percent.
- Return on assets recomputed as net profit 2,948,062,688,131.74 divided by total assets 103,875,267,250,195.93 equals 2.84 percent, matching the stored roa field for that year.
- Ten year growth recomputed as total assets in statement year 2025 divided by total assets in statement year 2015, 103,875,267,250,195.93 over 58,150,005,519,231.42, equals a 78.63 percent increase, and that ratio raised to the power of one tenth equals a 5.97 percent compound annual rate.
- Average assets per filing company recomputed as 103,875,267,250,195.93 divided by 715,339 companies equals about 145.2 million baht for 2025, versus 58,150,005,519,231.42 divided by 480,268 companies, about 121.1 million baht, for 2015, a 19.92 percent rise.
- Filing company count growth recomputed as 715,339 divided by 480,268 minus one equals 48.95 percent over the same ten years, faster than the 19.92 percent rise in average assets per company.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- National Economic and Social Development Council. (2025). Thai economic performance in Q4 of 2024 and the outlook for 2025. Office of the Prime Minister, Thailand. https://www.nesdc.go.th/
Frequently asked questions
How many trillion baht in assets do Thai companies hold?
103.9 trillion baht, the sum of total assets reported by 715,339 companies that filed a financial statement for statement year 2025, as of 14 August 2026.
How much of that is equity versus debt?
Equity covers 36.98 percent of the total. The remaining 63.02 percent, about 65.5 trillion baht, is liabilities such as loans and trade payables.
Why does total assets change with every data refresh?
Companies keep filing statements for a given year after that year closes, so the total for the most recent statement year rises as more filings arrive, and older years are effectively final.
How does this compare to Thailand's GDP?
Thailand's nominal GDP was 18.58 trillion baht in 2024. Registered company assets on file with the DBD run about 5.6 times that annual figure, though assets and GDP measure different things and are not directly interchangeable.
Cite this page
Chatpong L. (2026). Thai Companies Hold Nearly 104 Trillion Baht in Assets. Max Data Insights. https://maxdatathailand.com/insights/how-much-total-assets-do-thai-companies-hold-2026
Data & corrections
Download the data (CSV)Spot something off, or want to ask about the data? Email insights@maxsolutions.co.th. We publish corrections.
Written by
Chatpong L.Founder, Max Data, Max Solutions Co., Ltd.
Chatpong L. leads Max Data, a company-intelligence platform built on Thailand's official business registry. He writes about the structure of the Thai economy using primary registry data. His work covers company formation, industry concentration, and regional business activity.
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This page reports company-level and aggregate statistics only. It names no individuals and makes no claims about any person. Figures are provided for information and may be revised as source data updates.