Per Aarsleff Holding A/S
Per Aarsleff Holding A/S provides infrastructure and construction services for societies in Denmark and internationally. It operates through Construction, Technical solutions, Rail, Ground Engineering, and Pipe Technologies segments. The company offers infrastructure services, such as roads and traffic facilities; construction of harbours and marine; burial of electrical, copper, and fibre cables… Read more
Per Aarsleff Holding A/S (PAAL-B) - Net Assets
Latest net assets as of December 2025: Dkr5.71 Billion DKK
Based on the latest financial reports, Per Aarsleff Holding A/S (PAAL-B) has net assets worth Dkr5.71 Billion DKK as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Dkr16.69 Billion) and total liabilities (Dkr10.98 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 | Dkr5.71 Billion |
| % of Total Assets | 34.21% |
| Annual Growth Rate | 9.86% |
| 5-Year Change | 51.69% |
| 10-Year Change | 122.02% |
| Growth Volatility | 3.93 |
Per Aarsleff Holding A/S - Net Assets Trend (2004–2025)
This chart illustrates how Per Aarsleff Holding A/S's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Per Aarsleff Holding A/S (2004–2025)
The table below shows the annual net assets of Per Aarsleff Holding A/S from 2004 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-09-30 | Dkr5.56 Billion | +11.20% |
| 2024-09-30 | Dkr5.00 Billion | +13.49% |
| 2023-09-30 | Dkr4.40 Billion | +14.24% |
| 2022-09-30 | Dkr3.85 Billion | +5.21% |
| 2021-09-30 | Dkr3.66 Billion | +10.67% |
| 2020-09-30 | Dkr3.31 Billion | +6.30% |
| 2019-09-30 | Dkr3.11 Billion | +7.43% |
| 2018-09-30 | Dkr2.90 Billion | +7.56% |
| 2017-09-30 | Dkr2.70 Billion | +7.66% |
| 2016-09-30 | Dkr2.50 Billion | +10.52% |
| 2015-09-30 | Dkr2.27 Billion | +16.02% |
| 2014-09-30 | Dkr1.95 Billion | +13.22% |
| 2013-09-30 | Dkr1.72 Billion | +8.19% |
| 2012-09-30 | Dkr1.59 Billion | +8.28% |
| 2011-09-30 | Dkr1.47 Billion | +5.31% |
| 2010-09-30 | Dkr1.40 Billion | +3.48% |
| 2009-09-30 | Dkr1.35 Billion | +7.91% |
| 2008-09-30 | Dkr1.25 Billion | +19.21% |
| 2007-09-30 | Dkr1.05 Billion | +15.11% |
| 2006-09-30 | Dkr912.14 Million | +9.56% |
| 2005-09-30 | Dkr832.52 Million | +7.82% |
| 2004-09-30 | Dkr772.16 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Per Aarsleff Holding A/S'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 grown by 669.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (September 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | Dkr5.56 Billion | 100.91% |
| Common Stock | Dkr39.00 Million | 0.71% |
| Other Comprehensive Income | Dkr-89.00 Million | -1.62% |
| Total Equity | Dkr5.51 Billion | 100.00% |
Per Aarsleff Holding A/S Competitors by Market Cap
The table below lists competitors of Per Aarsleff Holding A/S ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Sinotruk (Hong Kong) Ltd
PINK:SHKLF
|
$1.84 Billion |
|
CITIC Pacific Special Steel Group Co Ltd
SHE:000708
|
$1.84 Billion |
|
Micro-Star International Co Ltd
TW:2377
|
$1.84 Billion |
|
Freni Brembo SpA
IL:0RPV
|
$1.84 Billion |
|
Netstreit Corp
NYSE:NTST
|
$1.83 Billion |
|
Bravida Holding AB
ST:BRAV
|
$1.83 Billion |
|
AB Electrolux (publ)
PINK:ELRXF
|
$1.83 Billion |
|
Jinke Property Group Co Ltd
SHE:000656
|
$1.83 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Per Aarsleff Holding A/S's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 4,947,000,000 to 5,506,000,000, a change of 559,000,000 (11.3%).
- Net income of 876,000,000 contributed positively to equity growth.
- Dividend payments of 208,000,000 reduced retained earnings.
- Share repurchases of 203,000,000 reduced equity.
- Other comprehensive income increased equity by 23,000,000.
- Other factors increased equity by 71,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Dkr876.00 Million | +15.91% |
| Dividends Paid | Dkr208.00 Million | -3.78% |
| Share Repurchases | Dkr203.00 Million | -3.69% |
| Other Comprehensive Income | Dkr23.00 Million | +0.42% |
| Other Changes | Dkr71.00 Million | +1.29% |
| Total Change | Dkr- | 11.30% |
Book Value vs Market Value Analysis
This analysis compares Per Aarsleff Holding A/S'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: 2.69x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 21.19x to 2.69x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2004-09-30 | Dkr36.25 | Dkr768.00 | x |
| 2005-09-30 | Dkr39.93 | Dkr768.00 | x |
| 2006-09-30 | Dkr44.09 | Dkr768.00 | x |
| 2007-09-30 | Dkr50.75 | Dkr768.00 | x |
| 2008-09-30 | Dkr60.27 | Dkr768.00 | x |
| 2009-09-30 | Dkr65.15 | Dkr768.00 | x |
| 2010-09-30 | Dkr67.78 | Dkr768.00 | x |
| 2011-09-30 | Dkr72.22 | Dkr768.00 | x |
| 2012-09-30 | Dkr78.20 | Dkr768.00 | x |
| 2013-09-30 | Dkr84.07 | Dkr768.00 | x |
| 2014-09-30 | Dkr95.42 | Dkr768.00 | x |
| 2015-09-30 | Dkr110.79 | Dkr768.00 | x |
| 2016-09-30 | Dkr122.42 | Dkr768.00 | x |
| 2017-09-30 | Dkr131.87 | Dkr768.00 | x |
| 2018-09-30 | Dkr141.69 | Dkr768.00 | x |
| 2019-09-30 | Dkr152.75 | Dkr768.00 | x |
| 2020-09-30 | Dkr162.69 | Dkr768.00 | x |
| 2021-09-30 | Dkr180.99 | Dkr768.00 | x |
| 2022-09-30 | Dkr193.84 | Dkr768.00 | x |
| 2023-09-30 | Dkr223.51 | Dkr768.00 | x |
| 2024-09-30 | Dkr256.15 | Dkr768.00 | x |
| 2025-09-30 | Dkr285.08 | Dkr768.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Per Aarsleff Holding A/S 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): 15.91%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.87%
- • Asset Turnover: 1.43x
- • Equity Multiplier: 2.87x
- Recent ROE (15.91%) is above the historical average (11.48%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2004 | 5.54% | 1.45% | 1.59x | 2.41x | Dkr-34.45 Million |
| 2005 | 7.11% | 1.71% | 1.74x | 2.39x | Dkr-24.07 Million |
| 2006 | 10.16% | 2.45% | 1.55x | 2.68x | Dkr1.49 Million |
| 2007 | 14.10% | 3.45% | 1.57x | 2.60x | Dkr43.03 Million |
| 2008 | 16.86% | 3.95% | 1.66x | 2.58x | Dkr85.55 Million |
| 2009 | 11.73% | 3.25% | 1.54x | 2.34x | Dkr23.35 Million |
| 2010 | 3.62% | 1.17% | 1.23x | 2.51x | Dkr-89.13 Million |
| 2011 | 6.65% | 1.59% | 1.41x | 2.97x | Dkr-49.37 Million |
| 2012 | 7.03% | 1.68% | 1.57x | 2.66x | Dkr-47.31 Million |
| 2013 | 8.71% | 2.02% | 1.63x | 2.65x | Dkr-22.13 Million |
| 2014 | 13.07% | 2.98% | 1.72x | 2.55x | Dkr59.64 Million |
| 2015 | 16.23% | 3.57% | 1.71x | 2.65x | Dkr140.67 Million |
| 2016 | 12.11% | 2.90% | 1.59x | 2.62x | Dkr52.63 Million |
| 2017 | 9.98% | 2.40% | 1.59x | 2.61x | Dkr-623.60K |
| 2018 | 11.75% | 2.81% | 1.54x | 2.72x | Dkr50.67 Million |
| 2019 | 11.59% | 2.68% | 1.65x | 2.63x | Dkr49.36 Million |
| 2020 | 11.45% | 2.85% | 1.55x | 2.60x | Dkr47.89 Million |
| 2021 | 12.91% | 3.23% | 1.64x | 2.44x | Dkr106.30 Million |
| 2022 | 11.69% | 2.47% | 1.54x | 3.07x | Dkr64.50 Million |
| 2023 | 17.98% | 3.88% | 1.51x | 3.06x | Dkr348.80 Million |
| 2024 | 16.29% | 3.71% | 1.54x | 2.84x | Dkr311.30 Million |
| 2025 | 15.91% | 3.87% | 1.43x | 2.87x | Dkr325.40 Million |
Industry Comparison
This section compares Per Aarsleff Holding A/S's net assets metrics with peer companies in the Engineering & Construction industry.
Industry Context
- Industry: Engineering & Construction
- Average net assets among peers: $1,561,200,000
- Average return on equity (ROE) among peers: -3.86%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Per Aarsleff Holding A/S (PAAL-B) | Dkr5.71 Billion | 5.54% | 1.92x | $1.83 Billion |
| MT Hoejgaard Holding A/S (MTHH) | $1.56 Billion | -3.86% | 1.16x | $204.85 Million |