Vestas Wind Systems A/S (VWSA) - Net Assets
Based on the latest financial reports, Vestas Wind Systems A/S (VWSA) has net assets worth €3.92 Billion EUR (≈ $4.58 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 (€26.71 Billion ≈ $31.22 Billion USD) and total liabilities (€22.79 Billion ≈ $26.64 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 Vestas Wind Systems A/S (VWSA) tangible net worth to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €3.92 Billion |
| % of Total Assets | 14.68% |
| Annual Growth Rate | 2.2% |
| 5-Year Change | -18.48% |
| 10-Year Change | N/A |
| Growth Volatility | 18.87 |
Vestas Wind Systems A/S - Net Assets Trend (2016–2025)
This chart illustrates how Vestas Wind Systems A/S's net assets have evolved over time, based on quarterly financial data. See VWSA cash and liquid assets coverage to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Vestas Wind Systems A/S (2016–2025)
The table below shows the annual net assets of Vestas Wind Systems A/S from 2016 to 2025. For live valuation and market cap data, see VWSA market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €3.88 Billion ≈ $4.54 Billion |
+9.57% |
| 2024-12-31 | €3.54 Billion ≈ $4.14 Billion |
+16.44% |
| 2023-12-31 | €3.04 Billion ≈ $3.56 Billion |
-0.59% |
| 2022-12-31 | €3.06 Billion ≈ $3.58 Billion |
-35.73% |
| 2021-12-31 | €4.76 Billion ≈ $5.57 Billion |
+1.23% |
| 2020-12-31 | €4.70 Billion ≈ $5.50 Billion |
+40.60% |
| 2019-12-31 | €3.35 Billion ≈ $3.91 Billion |
+7.76% |
| 2018-12-31 | €3.10 Billion ≈ $3.63 Billion |
-0.26% |
| 2017-12-31 | €3.11 Billion ≈ $3.64 Billion |
-2.45% |
| 2016-12-31 | €3.19 Billion ≈ $3.73 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to Vestas Wind Systems A/S'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 30.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €4.05 Billion | 104.86% |
| Total Equity | €3.87 Billion | 100.00% |
Vestas Wind Systems A/S Competitors by Market Cap
The table below lists competitors of Vestas Wind Systems A/S ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Dollar General Corporation
NYSE:DG
|
$24.97 Billion |
|
Zhejiang Sanhua Co Ltd
SHE:002050
|
$24.98 Billion |
|
Cincinnati Financial Corporation
NASDAQ:CINF
|
$24.98 Billion |
|
Veolia Environnement S.A
F:VVDH
|
$25.04 Billion |
|
Veeva Systems Inc Class A
NYSE:VEEV
|
$24.90 Billion |
|
SAMPO OYJ (SDR)/1
F:SMP
|
$24.86 Billion |
|
Shenzhen Mindray Bio-Medical Electronics Co Ltd Class A
SHE:300760
|
$24.84 Billion |
|
Everpure, Inc.
NYSE:P
|
$24.78 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Vestas Wind Systems A/S's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 3,529,000,000 to 3,867,000,000, a change of 338,000,000 (9.6%).
- Net income of 778,000,000 contributed positively to equity growth.
- Dividend payments of 74,000,000 reduced retained earnings.
- Share repurchases of 282,000,000 reduced equity.
- Other factors decreased equity by 84,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €778.00 Million | +20.12% |
| Dividends Paid | €74.00 Million | -1.91% |
| Share Repurchases | €282.00 Million | -7.29% |
| Other Changes | €-84.00 Million | -2.17% |
| Total Change | €- | 9.58% |
Book Value vs Market Value Analysis
This analysis compares Vestas Wind Systems A/S'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: 1.97x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 2.52x to 1.97x 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 | €3.06 | €7.70 | x |
| 2018-12-31 | €3.13 | €7.70 | x |
| 2019-12-31 | €3.37 | €7.70 | x |
| 2020-12-31 | €4.63 | €7.70 | x |
| 2021-12-31 | €4.72 | €7.70 | x |
| 2022-12-31 | €3.03 | €7.70 | x |
| 2023-12-31 | €3.01 | €7.70 | x |
| 2024-12-31 | €3.51 | €7.70 | x |
| 2025-12-31 | €3.90 | €7.70 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Vestas Wind Systems A/S 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): 20.12%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.13%
- • Asset Turnover: 0.73x
- • Equity Multiplier: 6.65x
- Recent ROE (20.12%) is above the historical average (10.76%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 30.25% | 9.43% | 1.03x | 3.11x | €646.00 Million |
| 2017 | 28.73% | 8.98% | 0.92x | 3.49x | €582.80 Million |
| 2018 | 22.12% | 6.75% | 0.85x | 3.85x | €374.80 Million |
| 2019 | 21.38% | 5.80% | 0.85x | 4.35x | €374.70 Million |
| 2020 | 16.44% | 5.16% | 0.82x | 3.90x | €299.60 Million |
| 2021 | 3.52% | 1.07% | 0.79x | 4.15x | €-307.80 Million |
| 2022 | -51.64% | -10.85% | 0.72x | 6.60x | €-1.88 Billion |
| 2023 | 2.54% | 0.50% | 0.68x | 7.44x | €-225.70 Million |
| 2024 | 14.14% | 2.89% | 0.70x | 6.98x | €146.10 Million |
| 2025 | 20.12% | 4.13% | 0.73x | 6.65x | €391.30 Million |
Industry Comparison
This section compares Vestas Wind Systems A/S's net assets metrics with peer companies in the Specialty Industrial Machinery industry.
Industry Context
- Industry: Specialty Industrial Machinery
- Average net assets among peers: $7,847,905,349
- Average return on equity (ROE) among peers: 9.72%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Vestas Wind Systems A/S (VWSA) | €3.92 Billion | 30.25% | 5.81x | $24.97 Billion |
| DB ENERGY S.A. ZY -10 (0CJ) | $25.54 Million | -27.39% | 1.77x | $6.87 Million |
| MORIMATSU INT.H.C. (HK) (1S5) | $2.01 Billion | 19.02% | 1.84x | $983.88 Million |
| 2G Energy AG (2GB) | $24.57 Million | 26.33% | 1.01x | $670.96 Million |
| Eaton Corporation PLC (3EC) | $14.97 Billion | 9.42% | 1.13x | $131.40 Billion |
| M+S HIDRAVLIK AD BW 1 (8Q3) | $130.35 Million | 27.36% | 0.27x | $197.17 Million |
| MERUS POWER OYJ EO 1 (99H) | $10.40 Million | -10.72% | 1.77x | $35.09 Million |
| Aumann AG (AAG) | $203.16 Million | 5.41% | 0.61x | $174.31 Million |
| Atlas Copco A ADR (ACO) | $53.53 Billion | 27.61% | 1.12x | $64.34 Billion |
| ATS CORP. (ATO0) | $1.68 Billion | 11.50% | 1.43x | $2.77 Billion |
| Chongqing Machinery & Electric Co. Ltd (CE3) | $5.89 Billion | 8.61% | 1.18x | $349.86 Million |
About Vestas Wind Systems A/S
Vestas Wind Systems A/S engages in the design, manufacture, installation, and services of wind turbines the United States, Denmark, and internationally. It operates through two segments, Power Solutions and Service. The Power Solutions segment offers onshore and offshore wind power plants, wind turbines, development sites, etc. The Service segment engages in the sale of service contracts, spare p… Read more