PHN
Polski Holding Nieruchomosci S.A. engages in real estate management and development project implementation activities in Poland. It invests in, rents, and sells office, residential, commercial, and logistics properties. The company was formerly known as Grupa PHN S.A. and changed its name to Polski Holding Nieruchomosci S.A. in April 2012. The company is based in Warsaw, Poland.
PHN (2PN) - Net Assets
Latest net assets as of September 2025: €2.23 Billion EUR
Based on the latest financial reports, PHN (2PN) has net assets worth €2.23 Billion EUR as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€4.69 Billion) and total liabilities (€2.47 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 | €2.23 Billion |
| % of Total Assets | 47.41% |
| Annual Growth Rate | 0.32% |
| 5-Year Change | -12.1% |
| 10-Year Change | N/A |
| Growth Volatility | 5.9 |
PHN - Net Assets Trend (2016–2024)
This chart illustrates how PHN's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for PHN (2016–2024)
The table below shows the annual net assets of PHN from 2016 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | €2.05 Billion | -8.48% |
| 2023-12-31 | €2.24 Billion | -7.77% |
| 2022-12-31 | €2.42 Billion | +1.36% |
| 2021-12-31 | €2.39 Billion | +2.75% |
| 2020-12-31 | €2.33 Billion | +2.00% |
| 2019-12-31 | €2.28 Billion | +11.45% |
| 2018-12-31 | €2.05 Billion | +1.72% |
| 2017-12-31 | €2.01 Billion | +0.96% |
| 2016-12-31 | €1.99 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to PHN'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 210.7% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | €2.11 Billion | 103.98% |
| Total Equity | €2.03 Billion | 100.00% |
PHN Competitors by Market Cap
The table below lists competitors of PHN ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Very Good Tour Co. Ltd
KQ:094850
|
$30.55 Million |
|
Para Light Electronics Co Ltd
TW:6226
|
$30.55 Million |
|
TY Holdings Co Ltd
KO:363280
|
$30.56 Million |
|
Rompetrol Well
RO:PTR
|
$30.56 Million |
|
Malin Corporation plc
IR:MLC
|
$30.54 Million |
|
Chung Fu Tex-International Corp
TW:1435
|
$30.53 Million |
|
ESTec Corporation
KQ:069510
|
$30.52 Million |
|
Ribbon Acquisition Corp Class A Ordinary Shares
NASDAQ:RIBB
|
$30.51 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in PHN's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 2,213,600,000 to 2,025,300,000, a change of -188,300,000 (-8.5%).
- Net loss of 183,000,000 reduced equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €-183.00 Million | -9.04% |
| Other Changes | €-5.30 Million | -0.26% |
| Total Change | €- | -8.51% |
Book Value vs Market Value Analysis
This analysis compares PHN'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: 0.05x
- 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.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | €42.42 | €2.07 | x |
| 2018-12-31 | €43.16 | €2.07 | x |
| 2019-12-31 | €44.09 | €2.07 | x |
| 2020-12-31 | €45.01 | €2.07 | x |
| 2021-12-31 | €46.35 | €2.07 | x |
| 2022-12-31 | €47.00 | €2.07 | x |
| 2023-12-31 | €43.22 | €2.07 | x |
| 2024-12-31 | €39.54 | €2.07 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently PHN 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): -9.04%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -22.43%
- • Asset Turnover: 0.18x
- • Equity Multiplier: 2.26x
- Recent ROE (-9.04%) is below the historical average (-0.00%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 1.57% | 17.56% | 0.07x | 1.36x | €-165.72 Million |
| 2017 | 1.59% | 19.86% | 0.06x | 1.33x | €-167.08 Million |
| 2018 | 2.36% | 28.22% | 0.06x | 1.38x | €-154.40 Million |
| 2019 | 3.07% | 33.05% | 0.06x | 1.68x | €-156.00 Million |
| 2020 | 3.13% | 9.81% | 0.18x | 1.82x | €-157.98 Million |
| 2021 | 3.32% | 16.38% | 0.11x | 1.82x | €-158.70 Million |
| 2022 | 1.28% | 4.91% | 0.14x | 1.90x | €-209.93 Million |
| 2023 | -7.30% | -28.29% | 0.12x | 2.09x | €-382.86 Million |
| 2024 | -9.04% | -22.43% | 0.18x | 2.26x | €-385.53 Million |
Industry Comparison
This section compares PHN's net assets metrics with peer companies in the Real Estate Services industry.
Industry Context
- Industry: Real Estate Services
- Average net assets among peers: $1,080,561,236
- Average return on equity (ROE) among peers: 3.57%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| PHN (2PN) | €2.23 Billion | 1.57% | 1.11x | $30.54 Million |
| Intea Fastigheter AB (publ) (1DZ0) | $8.99 Billion | 10.06% | 1.40x | $1.74 Billion |
| The RMR Group Inc (26R) | $289.66 Million | 14.60% | 0.32x | $202.36 Million |
| Latvian Forest Company AB (publ) (2FD) | $33.43 Million | 0.82% | 0.28x | $19.45 Million |
| AMASTEN (4M2B) | $17.10 Million | -53.22% | 0.33x | $207.35 Million |
| ZUEBLIN IMMO.H.NAM.SF22,5 (61Z1) | $138.51 Million | 3.84% | 0.68x | $135.94 Million |
| Accentro Real Estate AG (A4Y) | $153.70 Million | 13.11% | 1.26x | $104.15 |
| Hasen-Immobilien AG (ABHA) | $62.88 Million | 26.88% | 3.42x | $6.07 Million |
| AGROB Immobilien AG (AGR3) | $32.34 Million | 0.04% | 3.66x | $55.86 Million |
| The Grounds Real Estate Development AG (AMM) | $7.44 Million | 15.96% | 2.76x | $6.03 Million |