(%) 11.5% 15.6% Liability to Equity (times) 0.4 0.4 Return on fixed assets5 (%) 87.1% 87.6% Debt to equity (times) 0.0 0.2 Asset turnover (times) 0.6 0.5 8 MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2017
, 2021 was 74.8 baht per share, increased from that of 68.2 baht per share as of February 28, 2021. Debt to Equity ratio as of November 30, 2021 was at 3.7 times decreased from 4.0 times at the end of 2020
to Equity (times) 0.6 0.3 Return on fixed assets5 (%) 45.5% 63.4% Debt to equity (times) 0.2 0.2 Asset turnover (times) 0.5 0.6 9 MD&A 2Q 2018 (ended 30 June 2018) MASTER AD PLC MANAGEMENT DISCUSSION
months 13 35 Over 12 months 11 33 Total 509 661 Allowance for doubtful debt 6 9 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES AND EQUITY BREAKDOWN 31 DECEMBER 2018 (Restated) 31 DECEMBER 2019 (THB mn
fixed assets5 (%) 57.1% 43.2% Debt to equity (times) 0.1 0.1 Asset turnover (times) 0.6 0.8 1 Calculated from operating revenue 2 Net Profit attributable to equity holders of the Company/ operating
Efficiency Ratios Efficiency Ratios Return on assets4 (%) 10.3% -1.5% Liability to Equity (times) 0.6 1.1 Return on fixed assets5 (%) 50.3% -12.3% Debt to equity (times) 0.2 0.3 Asset turnover (times) 0.7 0.4
standard (TFRS 16). Consequently, Book value as of November 30, 2020 was 62.6 baht per share, decreased from that of 82.9 baht per share as of February 29, 2020. Debt to Equity ratio as of November 30, 2020
% Payable days (days) 145 81 Efficiency Ratios Leverage Ratios Return on assets4 (%) 14.0% 10.2% Liability to Equity (times) 0.4 0.5 Return on fixed assets5 (%) 80.4% 58.2% Debt to equity (times) 0.1 0.1
% Payable days (days) 97.6 107.2 Efficiency Ratios Leverage Ratios Return on assets (%) 8.5% 7.4% Liability to equity (times) 0.6 0.3 Return on fixed assets (%) 60.1% 72.7% Debt to equity (times) 0.3 0.1
upgrading equipment health. This has significantly improved the Debt to Equity Ratio from 0.49 in 2016 to 0.20 in Q2-2019 and the Current Ratio from 0.33 in 2016 to 1.75 in Q2-2019. 1. Highlights 2 G J Steel