ADAGENE INC. SP.ADR (978) - Net Assets
Based on the latest financial reports, ADAGENE INC. SP.ADR (978) has net assets worth €35.35 Million EUR (≈ $41.33 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€78.26 Million ≈ $91.50 Million USD) and total liabilities (€42.91 Million ≈ $50.17 Million USD). 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. Check ADAGENE INC. SP.ADR tangible book value ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €35.35 Million |
| % of Total Assets | 45.17% |
| Annual Growth Rate | -31.07% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 11.31 |
ADAGENE INC. SP.ADR - Net Assets Trend (2021–2025)
This chart illustrates how ADAGENE INC. SP.ADR's net assets have evolved over time, based on quarterly financial data. See ADAGENE INC. SP.ADR defensive liquidity buffer to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for ADAGENE INC. SP.ADR (2021–2025)
The table below shows the annual net assets of ADAGENE INC. SP.ADR from 2021 to 2025. For live valuation and market cap data, see 978 market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €35.35 Million ≈ $41.33 Million |
-30.03% |
| 2024-12-31 | €50.52 Million ≈ $59.07 Million |
-28.40% |
| 2023-12-31 | €70.56 Million ≈ $82.49 Million |
-15.08% |
| 2022-12-31 | €83.09 Million ≈ $97.14 Million |
-46.93% |
| 2021-12-31 | €156.56 Million ≈ $183.03 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to ADAGENE INC. SP.ADR'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 14995174100.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | €364.13 Million | 1030.10% |
| Total Equity | €35.35 Million | 100.00% |
ADAGENE INC. SP.ADR Competitors by Market Cap
The table below lists competitors of ADAGENE INC. SP.ADR ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Canaan Inc
NASDAQ:CAN
|
$238.15 Million |
|
Pix Transmissions Limited
NSE:PIXTRANS
|
$238.19 Million |
|
Backblaze Inc
NASDAQ:BLZE
|
$238.21 Million |
|
Metro Mining Limited
F:6ME
|
$238.27 Million |
|
LongDa Construction & Development Corp
TW:5519
|
$237.91 Million |
|
Coincheck Group N.V. Ordinary Shares
NASDAQ:CNCK
|
$237.87 Million |
|
LGI Ltd
AU:LGI
|
$237.87 Million |
|
Cathay Chemical Works Inc
TW:1713
|
$237.79 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in ADAGENE INC. SP.ADR's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 50,523,844 to 35,349,547, a change of -15,174,297 (-30.0%).
- Net loss of 17,609,413 reduced equity.
- New share issuances of 16,550,000 increased equity.
- Other factors decreased equity by 14,114,884.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €-17.61 Million | -49.82% |
| Share Issuances | €16.55 Million | +46.82% |
| Other Changes | €-14.11 Million | -39.93% |
| Total Change | €- | -30.03% |
Book Value vs Market Value Analysis
This analysis compares ADAGENE INC. SP.ADR'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: 5.16x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has increased from 1.07x to 5.16x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2021-12-31 | €2.87 | €3.08 | x |
| 2022-12-31 | €1.54 | €3.08 | x |
| 2023-12-31 | €1.28 | €3.08 | x |
| 2024-12-31 | €0.86 | €3.08 | x |
| 2025-12-31 | €0.60 | €3.08 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently ADAGENE INC. SP.ADR 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): -49.82%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -229.56%
- • Asset Turnover: 0.10x
- • Equity Multiplier: 2.21x
- Recent ROE (-49.82%) is above the historical average (-57.16%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2021 | -46.74% | -719.18% | 0.05x | 1.21x | €-88.83 Million |
| 2022 | -96.25% | -860.59% | 0.06x | 1.83x | €-88.28 Million |
| 2023 | -26.85% | -104.61% | 0.16x | 1.64x | €-26.00 Million |
| 2024 | -66.16% | -32386.45% | 0.00x | 1.77x | €-38.48 Million |
| 2025 | -49.82% | -229.56% | 0.10x | 2.21x | €-21.14 Million |
Industry Comparison
This section compares ADAGENE INC. SP.ADR's net assets metrics with peer companies in the Biotechnology industry.
Industry Context
- Industry: Biotechnology
- Average net assets among peers: $1,435,678,106
- Average return on equity (ROE) among peers: -30.54%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| ADAGENE INC. SP.ADR (978) | €35.35 Million | -46.74% | 1.21x | $237.92 Million |
| PROQR THERAPEUTICS EO-04 (0PQ) | $66.68 Million | -96.62% | 1.57x | $142.34 Million |
| TIZIANA LIFE SCIENCES LTD (0RP) | $5.54 Million | -319.56% | 1.20x | $141.34 Million |
| Theravance Biopharma Inc (0TB) | $441.80 Million | 197.40% | 0.37x | $828.57 Million |
| I-MAB SPONS.ADS/1 -0001 (0VY) | $230.94 Million | -20.03% | 0.13x | $179.82 Million |
| PreveCeutical Medical Inc (18H) | $-4.64 Million | 0.00% | 0.00x | $3.34 Million |
| Argen-X (1AE) | $1.05 Billion | -15.51% | 0.36x | $41.67 Billion |
| WAVE LIFE SCIENCES LTD. (1U5) | $-45.09 Million | 0.00% | 0.00x | $1.10 Billion |
| BIOCURE TECHNOLOGY INC. (1WH) | $1.60 Million | -113.13% | 0.23x | $960.84K |
| ZAI LAB LTD0000006 (1ZLB) | $715.50 Million | -24.53% | 0.64x | $1.82 Billion |
| BioNTech SE (22UA) | $11.89 Billion | 86.54% | 0.33x | $20.05 Billion |
About ADAGENE INC. SP.ADR
Adagene Inc., a clinical stage biotechnology company, engages in the research, development, and production of monoclonal antibody drugs for cancers in the People's Republic of China. Its lead product candidate is the ADG126, a masked fully-human anti-CTLA-4 mAb which is in phase 1b/2 clinical development for the treatment of cancer. The company also develops ADG116, a fully human anti-CTLA-4 anti… Read more