GF Securities Co. Ltd (9GF) - Net Assets
Based on the latest financial reports, GF Securities Co. Ltd (9GF) has net assets worth €178.23 Billion EUR (≈ $208.37 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€1.12 Trillion ≈ $1.31 Trillion USD) and total liabilities (€943.99 Billion ≈ $1.10 Trillion 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 tangible equity quality of GF Securities Co. Ltd to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €178.23 Billion |
| % of Total Assets | 15.88% |
| Annual Growth Rate | 7.87% |
| 5-Year Change | 46.62% |
| 10-Year Change | N/A |
| Growth Volatility | 3.8 |
GF Securities Co. Ltd - Net Assets Trend (2017–2025)
This chart illustrates how GF Securities Co. Ltd's net assets have evolved over time, based on quarterly financial data. See GF Securities Co. Ltd defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for GF Securities Co. Ltd (2017–2025)
The table below shows the annual net assets of GF Securities Co. Ltd from 2017 to 2025. For live valuation and market cap data, see market value of GF Securities Co. Ltd.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €162.46 Billion ≈ $189.93 Billion |
+6.12% |
| 2024-12-31 | €153.09 Billion ≈ $178.97 Billion |
+8.82% |
| 2023-12-31 | €140.68 Billion ≈ $164.46 Billion |
+12.73% |
| 2022-12-31 | €124.79 Billion ≈ $145.90 Billion |
+12.63% |
| 2021-12-31 | €110.80 Billion ≈ $129.54 Billion |
+8.34% |
| 2020-12-31 | €102.27 Billion ≈ $119.57 Billion |
+8.64% |
| 2019-12-31 | €94.14 Billion ≈ $110.06 Billion |
+6.21% |
| 2018-12-31 | €88.63 Billion ≈ $103.62 Billion |
+0.00% |
| 2017-12-31 | €88.63 Billion ≈ $103.61 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to GF Securities Co. Ltd'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 11.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €47.88 Billion | 30.67% |
| Other Components | €108.23 Billion | 69.33% |
| Total Equity | €156.11 Billion | 100.00% |
GF Securities Co. Ltd Competitors by Market Cap
The table below lists competitors of GF Securities Co. Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Universal Display
NASDAQ:OLED
|
$4.16 Billion |
|
Lazard Ltd
NYSE:LAZ
|
$4.16 Billion |
|
Science Applications International Corporation Common Stock
NYSE:SAIC
|
$4.16 Billion |
|
KBR Inc
NYSE:KBR
|
$4.16 Billion |
|
Ajanta Pharma Limited
NSE:AJANTPHARM
|
$4.15 Billion |
|
GlaxoSmithKline Pharmaceuticals Limited
NSE:GLAXO
|
$4.15 Billion |
|
MakeMyTrip Limited
F:MY1
|
$4.15 Billion |
|
MiniMed Group, Inc. Common Stock
NASDAQ:MMED
|
$4.15 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in GF Securities Co. Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 147,601,915,206 to 156,111,483,182, a change of 8,509,567,976 (5.8%).
- Net income of 13,701,548,267 contributed positively to equity growth.
- Dividend payments of 9,872,410,619 reduced retained earnings.
- Other factors increased equity by 4,680,430,327.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €13.70 Billion | +8.78% |
| Dividends Paid | €9.87 Billion | -6.32% |
| Other Changes | €4.68 Billion | +3.0% |
| Total Change | €- | 5.77% |
Book Value vs Market Value Analysis
This analysis compares GF Securities Co. Ltd'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: 0.09x
- 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 | €11.13 | €1.85 | x |
| 2018-12-31 | €11.16 | €1.85 | x |
| 2019-12-31 | €11.97 | €1.85 | x |
| 2020-12-31 | €12.88 | €1.85 | x |
| 2021-12-31 | €13.99 | €1.85 | x |
| 2022-12-31 | €15.76 | €1.85 | x |
| 2023-12-31 | €17.81 | €1.85 | x |
| 2024-12-31 | €19.37 | €1.85 | x |
| 2025-12-31 | €20.53 | €1.85 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently GF Securities Co. Ltd 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): 8.78%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 40.19%
- • Asset Turnover: 0.03x
- • Equity Multiplier: 6.25x
- Recent ROE (8.78%) is above the historical average (7.88%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | 10.13% | 40.70% | 0.06x | 4.21x | €109.98 Million |
| 2018 | 5.06% | 29.11% | 0.04x | 4.58x | €-4.20 Billion |
| 2019 | 8.26% | 33.71% | 0.06x | 4.32x | €-1.58 Billion |
| 2020 | 10.23% | 35.71% | 0.06x | 4.66x | €221.91 Million |
| 2021 | 10.18% | 33.11% | 0.06x | 5.03x | €191.66 Million |
| 2022 | 6.60% | 32.77% | 0.04x | 5.14x | €-4.09 Billion |
| 2023 | 5.14% | 30.91% | 0.03x | 5.03x | €-6.59 Billion |
| 2024 | 6.53% | 37.60% | 0.03x | 5.14x | €-5.12 Billion |
| 2025 | 8.78% | 40.19% | 0.03x | 6.25x | €-1.91 Billion |
Industry Comparison
This section compares GF Securities Co. Ltd's net assets metrics with peer companies in the Capital Markets industry.
Industry Context
- Industry: Capital Markets
- Average net assets among peers: $47,789,329,089
- Average return on equity (ROE) among peers: 12.16%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| GF Securities Co. Ltd (9GF) | €178.23 Billion | 10.13% | 5.30x | $4.15 Billion |
| GUOTAI JUNAN SEC. H YC1 (153A) | $177.47 Billion | 7.34% | 4.90x | $6.52 Billion |
| China Merchants Securities Co. Ltd (195H) | $138.05 Billion | 8.95% | 4.46x | $2.65 Billion |
| FATFISH GROUP LTD. (1JU) | $-6.74 Million | 0.00% | 0.00x | $8.54 Million |
| UP FINT. HLDG (SP.ADR) A (1M5) | $446.99 Million | -0.49% | 7.50x | $1.01 Billion |
| GREENBANK CAPITAL (2TL) | $3.01 Million | 33.26% | 1.67x | $70.90K |
| SHENWAN HONGYUAN GR.H YC1 (2X2A) | $133.35 Billion | 3.91% | 4.23x | $796.26 Million |
| Guolian Securities Co. Ltd (34V) | $7.65 Billion | 0.66% | 1.78x | $223.56 Million |
| SIXTY SIX CAPITAL INC. (5CR0) | $13.08 Million | 56.26% | 0.48x | $5.39 Million |
| Futu Holdings Limited (6FHA) | $20.86 Billion | 14.03% | 3.53x | $9.18 Billion |
| CAIRO MEZZ PLC EO-10 (6H3) | $56.54 Million | -2.33% | 0.00x | $79.50 Million |
About GF Securities Co. Ltd
GF Securities Co., Ltd., together with its subsidiaries, provides capital market services in China. It operates through four segments: Investment Banking, Wealth Management, Trading and Institution, and Investment Management. The company offers equity and debt financing, financial consulting, and mergers and acquisitions; and brokerage services, investment advisory, margin financing, securities l… Read more