NagaCorp Ltd (N9J) - Net Assets

Latest as of December 2025: €2.40 Billion EUR ≈ $2.81 Billion USD

Based on the latest financial reports, NagaCorp Ltd (N9J) has net assets worth €2.40 Billion EUR (≈ $2.81 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 (€2.77 Billion ≈ $3.24 Billion USD) and total liabilities (€367.58 Million ≈ $429.73 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 N9J tangible net assets ratio to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	€2.40 Billion
% of Total Assets	86.73%
Annual Growth Rate	12.25%
5-Year Change	45.59%
10-Year Change	91.97%
Growth Volatility	21.49

NagaCorp Ltd - Net Assets Trend (2013–2025)

This chart illustrates how NagaCorp Ltd's net assets have evolved over time, based on quarterly financial data. See how many days can NagaCorp Ltd fund operations to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for NagaCorp Ltd (2013–2025)

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

Year	Net Assets	Change
2025-12-31	€2.40 Billion ≈ $2.81 Billion	+11.42%
2024-12-31	€2.16 Billion ≈ $2.52 Billion	+6.46%
2023-12-31	€2.02 Billion ≈ $2.37 Billion	+9.48%
2022-12-31	€1.85 Billion ≈ $2.16 Billion	+12.11%
2021-12-31	€1.65 Billion ≈ $1.93 Billion	-0.42%
2020-12-31	€1.66 Billion ≈ $1.94 Billion	-7.38%
2019-12-31	€1.79 Billion ≈ $2.09 Billion	+16.14%
2018-12-31	€1.54 Billion ≈ $1.80 Billion	+11.38%
2017-12-31	€1.38 Billion ≈ $1.62 Billion	+10.52%
2016-12-31	€1.25 Billion ≈ $1.46 Billion	+82.21%
2015-12-31	€686.58 Million ≈ $802.68 Million	+9.76%
2014-12-31	€625.50 Million ≈ $731.28 Million	+4.26%
2013-12-31	€599.96 Million ≈ $701.42 Million	--

Equity Component Analysis

This analysis shows how different components contribute to NagaCorp 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 415.2% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	€1.24 Billion	51.63%
Other Components	€1.16 Billion	48.37%
Total Equity	€2.40 Billion	100.00%

NagaCorp Ltd Competitors by Market Cap

The table below lists competitors of NagaCorp Ltd ranked by their market capitalization.

Company	Market Cap
Changchun UP Optotech Co Ltd SHE:002338	$1.95 Billion
NOS S.G.P.S. S.A. LS:NOS	$1.95 Billion
Novocure Ltd NASDAQ:NVCR	$1.95 Billion
Black Box Limited NSE:BBOX	$1.95 Billion
Aarti Industries Limited NSE:AARTIIND	$1.95 Billion
Skyworth Digital Co Ltd SHE:000810	$1.95 Billion
Netstreit Corp NYSE:NTST	$1.95 Billion
NCR Atleos Corporation NYSE:NATL	$1.95 Billion

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 2,155,381,000 to 2,401,522,000, a change of 246,141,000 (11.4%).
Net income of 309,907,000 contributed positively to equity growth.
Dividend payments of 44,639,000 reduced retained earnings.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	€309.91 Million	+12.9%
Dividends Paid	€44.64 Million	-1.86%
Other Changes	€-19.13 Million	-0.8%
Total Change	€-	11.42%

Book Value vs Market Value Analysis

This analysis compares NagaCorp 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: 0.71x
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.
The price-to-book ratio has decreased from 1.21x to 0.71x 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	€0.32	€0.39	x
2018-12-31	€0.35	€0.39	x
2019-12-31	€0.41	€0.39	x
2020-12-31	€0.38	€0.39	x
2021-12-31	€0.38	€0.39	x
2022-12-31	€0.42	€0.39	x
2023-12-31	€0.46	€0.39	x
2024-12-31	€0.49	€0.39	x
2025-12-31	€0.54	€0.39	x

Capital Efficiency Dashboard

This dashboard shows how efficiently NagaCorp 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): 12.90%
The company shows good efficiency in utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 46.53%
• Asset Turnover: 0.24x
• Equity Multiplier: 1.15x
Recent ROE (12.90%) is below the historical average (14.45%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2013	23.38%	40.67%	0.54x	1.07x	€80.29 Million
2014	21.76%	33.66%	0.61x	1.06x	€73.54 Million
2015	25.14%	34.27%	0.70x	1.05x	€103.97 Million
2016	14.72%	34.65%	0.41x	1.03x	€59.06 Million
2017	18.46%	26.68%	0.65x	1.06x	€116.93 Million
2018	25.36%	26.49%	0.75x	1.28x	€236.59 Million
2019	29.15%	29.69%	0.75x	1.31x	€342.44 Million
2020	6.18%	11.64%	0.34x	1.54x	€-63.34 Million
2021	-8.91%	-68.82%	0.09x	1.47x	€-311.97 Million
2022	5.80%	24.62%	0.17x	1.40x	€-77.68 Million
2023	8.78%	35.41%	0.18x	1.36x	€-24.73 Million
2024	5.08%	20.74%	0.21x	1.14x	€-105.95 Million
2025	12.90%	46.53%	0.24x	1.15x	€69.75 Million

Industry Comparison

This section compares NagaCorp Ltd's net assets metrics with peer companies in the Resorts & Casinos industry.

Industry Context

Industry: Resorts & Casinos
Average net assets among peers: $1,747,732,333
Average return on equity (ROE) among peers: 58.06%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
NagaCorp Ltd (N9J)	€2.40 Billion	23.38%	0.15x	$1.95 Billion
SJM HOLDINGS UNSP.ADR/4 (3MG1)	$14.18 Billion	0.02%	2.44x	$1.66 Billion
SANDS CHINA ADR/1 O.N. (599)	$-700.00 Million	0.00%	0.00x	$14.41 Billion
Sands China Ltd (599A)	$5.84 Billion	24.99%	0.84x	$14.73 Billion
Wynn Macau Limited (8WY)	$1.52 Billion	411.30%	29.35x	$3.25 Billion
WYNN MACAU LTD ADR/10 (8WY0)	$-17.15 Billion	0.00%	0.00x	$3.19 Billion
The Star Entertainment Group Limited (EE9)	$3.78 Billion	3.92%	0.39x	$348.40 Million
MGM China Holdings Limited (M04)	$4.92 Billion	63.33%	3.47x	$4.55 Billion
Melco Resorts & Entertainment Limited (MAS)	$3.34 Billion	10.40%	1.67x	$1.69 Billion
Regenbogen AG (RGB)	$16.23 Million	8.55%	1.33x	$12.30 Million

About NagaCorp Ltd

F:N9J Germany Resorts & Casinos

Market Cap

$2.00 Billion

€1.71 Billion EUR

Market Cap Rank

#6423 Global

#948 in Germany

Share Price

€0.39

Change (1 day)

-2.18%

52-Week Range

€0.37 - €0.71

All Time High

€0.97