First Tractor Company Limited (FTP) - Net Assets
Based on the latest financial reports, First Tractor Company Limited (FTP) has net assets worth €8.23 Billion EUR (≈ $9.62 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 (€15.10 Billion ≈ $17.65 Billion USD) and total liabilities (€6.87 Billion ≈ $8.03 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. Also explore First Tractor Company Limited (FTP) total assets for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €8.23 Billion |
| % of Total Assets | 54.52% |
| Annual Growth Rate | 3.81% |
| 5-Year Change | 37.59% |
| 10-Year Change | 49.55% |
| Growth Volatility | 7.84 |
First Tractor Company Limited - Net Assets Trend (2013–2025)
This chart illustrates how First Tractor Company Limited's net assets have evolved over time, based on quarterly financial data. Check FTP tangible net assets ratio to evaluate the tangible quality of the company's equity base.
Annual Net Assets for First Tractor Company Limited (2013–2025)
The table below shows the annual net assets of First Tractor Company Limited from 2013 to 2025. For live valuation and market cap data, see FTP company net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €8.23 Billion ≈ $9.62 Billion |
+5.82% |
| 2024-12-31 | €7.78 Billion ≈ $9.09 Billion |
+7.74% |
| 2023-12-31 | €7.22 Billion ≈ $8.44 Billion |
+11.11% |
| 2022-12-31 | €6.50 Billion ≈ $7.60 Billion |
+8.61% |
| 2021-12-31 | €5.98 Billion ≈ $6.99 Billion |
+20.23% |
| 2020-12-31 | €4.98 Billion ≈ $5.82 Billion |
+4.01% |
| 2019-12-31 | €4.78 Billion ≈ $5.59 Billion |
+2.74% |
| 2018-12-31 | €4.66 Billion ≈ $5.44 Billion |
-14.39% |
| 2017-12-31 | €5.44 Billion ≈ $6.36 Billion |
-1.17% |
| 2016-12-31 | €5.50 Billion ≈ $6.43 Billion |
+1.95% |
| 2015-12-31 | €5.40 Billion ≈ $6.31 Billion |
+1.46% |
| 2014-12-31 | €5.32 Billion ≈ $6.22 Billion |
+1.20% |
| 2013-12-31 | €5.26 Billion ≈ $6.15 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to First Tractor Company Limited'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 124.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €3.03 Billion | 39.55% |
| Other Components | €4.63 Billion | 60.45% |
| Total Equity | €7.66 Billion | 100.00% |
First Tractor Company Limited Competitors by Market Cap
The table below lists competitors of First Tractor Company Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Bank Tabungan Pensiunan Nasional Syariah PT
JK:BTPS
|
$446.89 Million |
|
Inventronics Hangzhou Inc
SHE:300582
|
$446.90 Million |
|
Assembly Biosciences Inc
NASDAQ:ASMB
|
$446.98 Million |
|
Sweco AB (publ)
ST:SWEC-A
|
$447.03 Million |
|
Sports Toto Berhad
KLSE:1562
|
$446.60 Million |
|
West Bancorporation
NASDAQ:WTBA
|
$446.48 Million |
|
Vishnu Chemicals Limited
NSE:VISHNU
|
$446.44 Million |
|
Consolidated Water Co. Ltd
F:CW2
|
$446.41 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in First Tractor Company Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 7,255,707,334 to 7,660,705,431, a change of 404,998,097 (5.6%).
- Net income of 811,953,460 contributed positively to equity growth.
- Dividend payments of 419,159,191 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €811.95 Million | +10.6% |
| Dividends Paid | €419.16 Million | -5.47% |
| Other Changes | €12.20 Million | +0.16% |
| Total Change | €- | 5.58% |
Book Value vs Market Value Analysis
This analysis compares First Tractor Company Limited'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: 0.14x
- 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 | €4.87 | €0.98 | x |
| 2018-12-31 | €4.06 | €0.98 | x |
| 2019-12-31 | €4.13 | €0.98 | x |
| 2020-12-31 | €4.40 | €0.98 | x |
| 2021-12-31 | €4.81 | €0.98 | x |
| 2022-12-31 | €5.30 | €0.98 | x |
| 2023-12-31 | €5.96 | €0.98 | x |
| 2024-12-31 | €6.46 | €0.98 | x |
| 2025-12-31 | €6.82 | €0.98 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently First Tractor Company Limited 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): 10.60%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.50%
- • Asset Turnover: 0.72x
- • Equity Multiplier: 1.97x
- Recent ROE (10.60%) is above the historical average (3.90%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | 5.04% | 2.05% | 0.95x | 2.60x | €-223.23 Million |
| 2014 | 3.65% | 1.86% | 0.73x | 2.69x | €-291.65 Million |
| 2015 | 2.90% | 1.40% | 0.73x | 2.84x | €-332.07 Million |
| 2016 | 4.63% | 2.57% | 0.66x | 2.74x | €-259.56 Million |
| 2017 | 1.18% | 0.78% | 0.51x | 2.94x | €-423.22 Million |
| 2018 | -32.45% | -23.46% | 0.42x | 3.28x | €-1.70 Billion |
| 2019 | 1.51% | 1.07% | 0.49x | 2.86x | €-345.53 Million |
| 2020 | 6.46% | 3.70% | 0.61x | 2.85x | €-153.67 Million |
| 2021 | 8.11% | 4.70% | 0.76x | 2.28x | €-102.00 Million |
| 2022 | 11.43% | 5.42% | 0.97x | 2.18x | €85.24 Million |
| 2023 | 14.90% | 8.65% | 0.83x | 2.06x | €327.85 Million |
| 2024 | 12.71% | 7.75% | 0.81x | 2.02x | €196.45 Million |
| 2025 | 10.60% | 7.50% | 0.72x | 1.97x | €45.88 Million |
Industry Comparison
This section compares First Tractor Company Limited's net assets metrics with peer companies in the Farm & Heavy Construction Machinery industry.
Industry Context
- Industry: Farm & Heavy Construction Machinery
- Average net assets among peers: $108,251,738,416
- Average return on equity (ROE) among peers: 9.22%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| First Tractor Company Limited (FTP) | €8.23 Billion | 5.04% | 0.83x | $446.76 Million |
| TAT HONG EQ.SRV. DL-08 (1Q2) | $1.57 Billion | 3.03% | 0.86x | $93.35 Million |
| Sinotruk (Hong Kong) Limited (4SK) | $47.96 Billion | 11.09% | 1.54x | $11.38 Billion |
| Zoomlion Heavy Industry Science and Technology Co. Ltd (8CZ) | $39.53 Billion | 11.06% | 1.33x | $1.46 Billion |
| Traton SE (8TRA) | $16.80 Billion | 8.27% | 1.76x | $16.49 Billion |
| Lonking Holdings Limited (C9IB) | $9.75 Billion | 4.11% | 0.58x | $1.58 Billion |
| Daimler Truck Holding AG (DTG) | $22.23 Billion | 16.99% | 2.20x | $30.60 Billion |
| DAIMLER TRUCK SP.ADS/1/2 (DTG1) | $22.23 Billion | 16.99% | 2.20x | $30.57 Billion |
| HITACHI CONSTR.MACH.ADR/2 (HCMA) | $814.41 Billion | 11.46% | 1.25x | $7.15 Billion |
| Kion Group AG (KGX) | $-213.04 Million | 0.00% | 0.00x | $5.97 Billion |
About First Tractor Company Limited
First Tractor Company Limited, engages in the manufacturing and sale of agricultural machinery and power machinery. It offers medium and large-sized wheeled and crawler tractors; off-road diesel engines, such as tractors and harvesters, engineering machinery, ships, generator sets, and others; and component products, such as castings and forgings, gears, axles, transmissions, covers, injection pu… Read more