SES S.A (SES) - Net Assets
Based on the latest financial reports, SES S.A (SES) has net assets worth €2.88 Billion EUR (≈ $3.36 Billion USD) as of June 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€10.53 Billion ≈ $12.31 Billion USD) and total liabilities (€7.65 Billion ≈ $8.94 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 SES goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €2.88 Billion |
| % of Total Assets | 27.34% |
| Annual Growth Rate | -9.91% |
| 5-Year Change | -52.66% |
| 10-Year Change | N/A |
| Growth Volatility | 11.96 |
SES S.A - Net Assets Trend (2016–2025)
This chart illustrates how SES S.A's net assets have evolved over time, based on quarterly financial data. See how many days can SES S.A fund operations to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for SES S.A (2016–2025)
The table below shows the annual net assets of SES S.A from 2016 to 2025. For live valuation and market cap data, see SES company net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €2.71 Billion ≈ $3.17 Billion |
-22.28% |
| 2024-12-31 | €3.49 Billion ≈ $4.08 Billion |
-7.08% |
| 2023-12-31 | €3.76 Billion ≈ $4.39 Billion |
-33.58% |
| 2022-12-31 | €5.66 Billion ≈ $6.61 Billion |
-1.31% |
| 2021-12-31 | €5.73 Billion ≈ $6.70 Billion |
+5.42% |
| 2020-12-31 | €5.44 Billion ≈ $6.36 Billion |
-13.08% |
| 2019-12-31 | €6.26 Billion ≈ $7.31 Billion |
+0.09% |
| 2018-12-31 | €6.25 Billion ≈ $7.31 Billion |
+2.26% |
| 2017-12-31 | €6.11 Billion ≈ $7.15 Billion |
-11.99% |
| 2016-12-31 | €6.95 Billion ≈ $8.12 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to SES S.A'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 107.4% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | €2.72 Billion | 103.62% |
| Total Equity | €2.62 Billion | 100.00% |
SES S.A Competitors by Market Cap
The table below lists competitors of SES S.A ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Amber Enterprises India Limited
NSE:AMBER
|
$2.97 Billion |
|
INVENTURUS KNOWLEDGE SO L
NSE:IKS
|
$2.98 Billion |
|
Dongguan Yiheda Automation Co. Ltd.
SHE:301029
|
$2.98 Billion |
|
Hellenic Petroleum S.A
AT:ELPE
|
$2.98 Billion |
|
Sichuan Shuangma Cement Co Ltd
SHE:000935
|
$2.97 Billion |
|
Zhejiang Changsheng Sliding Bearings Co Ltd Class A
SHE:300718
|
$2.97 Billion |
|
Hybio Pharmaceutical
SHE:300199
|
$2.97 Billion |
|
Star Bulk Carriers Corp
NASDAQ:SBLK
|
$2.97 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in SES S.A's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 3,423,000,000 to 2,623,000,000, a change of -800,000,000 (-23.4%).
- Net loss of 95,000,000 reduced equity.
- Dividend payments of 207,000,000 reduced retained earnings.
- New share issuances of 2,000,000 increased equity.
- Other factors decreased equity by 500,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €-95.00 Million | -3.62% |
| Dividends Paid | €207.00 Million | -7.89% |
| Share Issuances | €2.00 Million | +0.08% |
| Other Changes | €-500.00 Million | -19.06% |
| Total Change | €- | -23.37% |
Book Value vs Market Value Analysis
This analysis compares SES S.A'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: 1.16x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 0.71x to 1.16x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | €10.41 | €7.37 | x |
| 2018-12-31 | €10.69 | €7.37 | x |
| 2019-12-31 | €10.73 | €7.37 | x |
| 2020-12-31 | €9.40 | €7.37 | x |
| 2021-12-31 | €10.21 | €7.37 | x |
| 2022-12-31 | €10.16 | €7.37 | x |
| 2023-12-31 | €6.76 | €7.37 | x |
| 2024-12-31 | €6.62 | €7.37 | x |
| 2025-12-31 | €6.33 | €7.37 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently SES S.A 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): -3.62%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -3.62%
- • Asset Turnover: 0.20x
- • Equity Multiplier: 5.10x
- Recent ROE (-3.62%) is below the historical average (1.18%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 14.14% | 46.53% | 0.15x | 2.00x | €282.05 Million |
| 2017 | 9.96% | 29.29% | 0.17x | 2.03x | €-2.69 Million |
| 2018 | 4.76% | 15.12% | 0.15x | 2.09x | €-322.44 Million |
| 2019 | 4.80% | 15.26% | 0.15x | 2.14x | €-321.14 Million |
| 2020 | -1.60% | -4.68% | 0.15x | 2.31x | €-622.60 Million |
| 2021 | 7.99% | 25.89% | 0.13x | 2.31x | €-114.00 Million |
| 2022 | -0.61% | -1.75% | 0.15x | 2.25x | €-593.60 Million |
| 2023 | -24.45% | -44.58% | 0.20x | 2.75x | €-1.28 Billion |
| 2024 | 0.44% | 0.75% | 0.19x | 3.02x | €-327.30 Million |
| 2025 | -3.62% | -3.62% | 0.20x | 5.10x | €-357.30 Million |
Industry Comparison
This section compares SES S.A's net assets metrics with peer companies in the Broadcasting industry.
Industry Context
- Industry: Broadcasting
- Average net assets among peers: $3,328,676,219
- Average return on equity (ROE) among peers: 7.24%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| SES S.A (SES) | €2.88 Billion | 14.14% | 2.66x | $2.97 Billion |
| ITV PLC UNSP.ADR/10LS-10 (IJ70) | $1.83 Billion | 22.27% | 1.28x | $3.40 Billion |
| Klassik Radio AG (KA8) | $5.63 Million | 8.07% | 0.58x | $14.57 Million |
| MCOT Public Company Limited (OLU) | $7.36 Billion | 5.61% | 0.73x | $1.67K |
| MCOT Public Company Limited (OLU1) | $3.20 Billion | -14.32% | 0.47x | $93.79 Million |
| Prosiebensat 1 Media AG (PSM) | $1.06 Billion | 8.42% | 4.65x | $996.54 Million |
| RTL Group SA (RRTL) | $3.55 Billion | 20.27% | 1.34x | $5.06 Billion |
| RTL Group SA (RRTL) | $4.42 Billion | -1.27% | 0.78x | $5.78 Billion |
| RTL GROUP UNSP.ADR 10 (RRTU) | $5.19 Billion | 8.86% | 0.97x | $4.67 Billion |
About SES S.A
SES S.A. provides satellite-based data transmission capacity and ancillary services worldwide. The company offers content connectivity solutions, including network spanning satellite and ground infrastructure to create, deliver, and manage video and data solutions. It also provides data connectivity services through its fleet of geostationary earth orbit and medium earth orbit satellites, and gro… Read more