Fresnillo plc (FNL) - Net Assets

Latest as of December 2025: €5.07 Billion EUR ≈ $5.93 Billion USD

Based on the latest financial reports, Fresnillo plc (FNL) has net assets worth €5.07 Billion EUR (≈ $5.93 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€7.28 Billion ≈ $8.51 Billion USD) and total liabilities (€2.20 Billion ≈ $2.58 Billion 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 Fresnillo plc tangible book value ratio to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	€5.07 Billion
% of Total Assets	69.71%
Annual Growth Rate	5.49%
5-Year Change	33.45%
10-Year Change	86.82%
Growth Volatility	8.1

Fresnillo plc - Net Assets Trend (2013–2025)

This chart illustrates how Fresnillo plc's net assets have evolved over time, based on quarterly financial data. See Fresnillo plc liquidity coverage in days to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Fresnillo plc (2013–2025)

The table below shows the annual net assets of Fresnillo plc from 2013 to 2025. For live valuation and market cap data, see Fresnillo plc stock valuation.

Year	Net Assets	Change
2025-12-31	€5.07 Billion ≈ $5.93 Billion	+20.53%
2024-12-31	€4.21 Billion ≈ $4.92 Billion	+3.52%
2023-12-31	€4.07 Billion ≈ $4.75 Billion	+3.84%
2022-12-31	€3.92 Billion ≈ $4.58 Billion	+3.00%
2021-12-31	€3.80 Billion ≈ $4.45 Billion	+5.20%
2020-12-31	€3.61 Billion ≈ $4.23 Billion	+10.24%
2019-12-31	€3.28 Billion ≈ $3.83 Billion	+4.81%
2018-12-31	€3.13 Billion ≈ $3.66 Billion	+2.01%
2017-12-31	€3.07 Billion ≈ $3.59 Billion	+12.89%
2016-12-31	€2.72 Billion ≈ $3.18 Billion	+14.41%
2015-12-31	€2.37 Billion ≈ $2.78 Billion	+3.15%
2014-12-31	€2.30 Billion ≈ $2.69 Billion	-13.85%
2013-12-31	€2.67 Billion ≈ $3.12 Billion	--

Equity Component Analysis

This analysis shows how different components contribute to Fresnillo plc'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 185.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	€3.62 Billion	78.12%
Other Components	€1.01 Billion	21.88%
Total Equity	€4.63 Billion	100.00%

Fresnillo plc Competitors by Market Cap

The table below lists competitors of Fresnillo plc ranked by their market capitalization.

Company	Market Cap
Kering SA PA:KER	$31.24 Billion
DAIKIN INDUSTR.UNSP.ADR F:DKIA	$31.31 Billion
United Airlines Holdings Inc NASDAQ:UAL	$31.36 Billion
Baidu Inc NASDAQ:BIDU	$31.36 Billion
ANGLO AMERICAN SP.ADR 1/2 F:NGLD	$31.21 Billion
Raymond James Financial Inc. NYSE:RJF	$31.20 Billion
Volkswagen AG XETRA:VOW	$31.15 Billion
PTT Public Company Limited BK:PTT	$31.12 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Fresnillo plc's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 3,855,341,000 to 4,632,894,000, a change of 777,553,000 (20.2%).
Net income of 1,383,988,000 contributed positively to equity growth.
Dividend payments of 653,625,000 reduced retained earnings.
New share issuances of 278,000 increased equity.
Other factors increased equity by 46,912,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	€1.38 Billion	+29.87%
Dividends Paid	€653.62 Million	-14.11%
Share Issuances	€278.00K	+0.01%
Other Changes	€46.91 Million	+1.01%
Total Change	€-	20.17%

Book Value vs Market Value Analysis

This analysis compares Fresnillo plc'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: 5.94x
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 decreased from 9.13x to 5.94x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2017-12-31	€4.09	€37.32	x
2018-12-31	€4.14	€37.32	x
2019-12-31	€4.27	€37.32	x
2020-12-31	€4.72	€37.32	x
2021-12-31	€4.91	€37.32	x
2022-12-31	€5.00	€37.32	x
2023-12-31	€5.12	€37.32	x
2024-12-31	€5.23	€37.32	x
2025-12-31	€6.29	€37.32	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Fresnillo plc 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): 29.87%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 30.34%
• Asset Turnover: 0.63x
• Equity Multiplier: 1.57x
Recent ROE (29.87%) is above the historical average (10.80%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2013	10.58%	14.89%	0.40x	1.80x	€13.10 Million
2014	4.77%	7.67%	0.38x	1.64x	€-119.08 Million
2015	3.01%	4.88%	0.37x	1.65x	€-163.89 Million
2016	15.93%	22.41%	0.44x	1.60x	€158.96 Million
2017	18.62%	26.78%	0.44x	1.57x	€259.44 Million
2018	11.47%	16.63%	0.44x	1.56x	€44.92 Million
2019	6.49%	9.62%	0.44x	1.54x	€-110.47 Million
2020	10.75%	15.40%	0.43x	1.63x	€26.22 Million
2021	11.64%	15.58%	0.47x	1.59x	€59.40 Million
2022	7.38%	11.18%	0.41x	1.60x	€-96.68 Million
2023	6.20%	8.65%	0.47x	1.52x	€-143.28 Million
2024	3.66%	4.03%	0.59x	1.53x	€-244.61 Million
2025	29.87%	30.34%	0.63x	1.57x	€920.70 Million

Industry Comparison

This section compares Fresnillo plc's net assets metrics with peer companies in the Other Precious Metals & Mining industry.

Industry Context

Industry: Other Precious Metals & Mining
Average net assets among peers: $5,212,511,686
Average return on equity (ROE) among peers: -71.03%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Fresnillo plc (FNL)	€5.07 Billion	10.58%	0.43x	$31.21 Billion
ALLIANZ TECHNO.TR.LS-025 (28X)	$24.16 Million	-1.79%	0.01x	$557.41 Million
China Silver Group Limited (2CS)	$3.35 Billion	4.45%	0.20x	$120.69 Million
FORTE MINERALS CORP. (2OA)	$1.21 Million	-42.42%	0.16x	$57.96 Million
Manhattan Corporation Limited (32U)	$2.61 Million	-20.36%	0.03x	$6.84 Million
FUTURE METALS NL (3R10)	$19.83 Million	-19.87%	0.02x	$6.72 Million
Sibanye Stillwater Limited (47VS)	$48.29 Billion	-15.11%	1.86x	$7.53 Billion
MONTEGO RESOURCES INC. (4MO)	$74.81K	-582.17%	17.32x	$18.41K
Gemfields Group Limited (5PH)	$402.78 Million	-20.39%	0.52x	$72.42 Million
INFLECTION RESOURCES LTD. (5VJ)	$10.43 Million	-10.26%	0.01x	$16.52 Million
Hammer Metals Limited (6HM)	$26.75 Million	-2.41%	0.03x	$9.82 Million

About Fresnillo plc

F:FNL Germany Other Precious Metals & Mining

Market Cap

$32.15 Billion

€27.50 Billion EUR

Market Cap Rank

#863 Global

#189 in Germany

Share Price

€37.32

Change (1 day)

+4.89%

52-Week Range

€15.95 - €51.00

All Time High

€51.00