Indeks Bilgisayar Sistemleri Muhendislik Sanayi ve Ticaret AS (INDES) - Net Assets
Based on the latest financial reports, Indeks Bilgisayar Sistemleri Muhendislik Sanayi ve Ticaret AS (INDES) has net assets worth TL6.71 Billion TRY (≈ $150.28 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (TL32.03 Billion ≈ $717.36 Million USD) and total liabilities (TL25.32 Billion ≈ $567.08 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 INDES cash and liquid asset ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | TL6.71 Billion |
| % of Total Assets | 20.95% |
| Annual Growth Rate | 27.5% |
| 5-Year Change | 661.45% |
| 10-Year Change | 2343.39% |
| Growth Volatility | 26.64 |
Indeks Bilgisayar Sistemleri Muhendislik Sanayi ve Ticaret AS - Net Assets Trend (2003–2024)
This chart illustrates how Indeks Bilgisayar Sistemleri Muhendislik Sanayi ve Ticaret AS's net assets have evolved over time, based on quarterly financial data. Also explore Indeks Bilgisayar Sistemleri Muhendislik assets under control for the complete picture of this company's asset base.
Annual Net Assets for Indeks Bilgisayar Sistemleri Muhendislik Sanayi ve Ticaret AS (2003–2024)
The table below shows the annual net assets of Indeks Bilgisayar Sistemleri Muhendislik Sanayi ve Ticaret AS from 2003 to 2024. For live valuation and market cap data, see INDES stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | TL5.08 Billion ≈ $113.74 Million |
+48.70% |
| 2023-12-31 | TL3.42 Billion ≈ $76.49 Million |
+110.36% |
| 2022-12-31 | TL1.62 Billion ≈ $36.36 Million |
+48.54% |
| 2021-12-31 | TL1.09 Billion ≈ $24.48 Million |
+63.88% |
| 2020-12-31 | TL666.93 Million ≈ $14.94 Million |
+36.00% |
| 2019-12-31 | TL490.39 Million ≈ $10.98 Million |
+17.43% |
| 2018-12-31 | TL417.59 Million ≈ $9.35 Million |
+17.15% |
| 2017-12-31 | TL356.47 Million ≈ $7.98 Million |
+59.53% |
| 2016-12-31 | TL223.45 Million ≈ $5.00 Million |
+7.51% |
| 2015-12-31 | TL207.84 Million ≈ $4.66 Million |
+20.89% |
| 2014-12-31 | TL171.92 Million ≈ $3.85 Million |
+18.46% |
| 2013-12-31 | TL145.13 Million ≈ $3.25 Million |
+4.02% |
| 2012-12-31 | TL139.52 Million ≈ $3.12 Million |
+0.77% |
| 2011-12-31 | TL138.45 Million ≈ $3.10 Million |
+14.95% |
| 2010-12-31 | TL120.44 Million ≈ $2.70 Million |
+6.79% |
| 2009-12-31 | TL112.78 Million ≈ $2.53 Million |
+18.55% |
| 2008-12-31 | TL95.13 Million ≈ $2.13 Million |
+2.12% |
| 2007-12-31 | TL93.16 Million ≈ $2.09 Million |
+16.71% |
| 2006-12-31 | TL79.82 Million ≈ $1.79 Million |
+27.69% |
| 2005-12-31 | TL62.51 Million ≈ $1.40 Million |
+22.76% |
| 2004-12-31 | TL50.92 Million ≈ $1.14 Million |
+64.84% |
| 2003-12-31 | TL30.89 Million ≈ $691.86K |
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Equity Component Analysis
This analysis shows how different components contribute to Indeks Bilgisayar Sistemleri Muhendislik Sanayi ve Ticaret AS'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 12022.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | TL450.84 Million | 9.57% |
| Other Components | TL4.26 Billion | 90.43% |
| Total Equity | TL4.71 Billion | 100.00% |
Indeks Bilgisayar Sistemleri Muhendislik Sanayi ve Ticaret AS Competitors by Market Cap
The table below lists competitors of Indeks Bilgisayar Sistemleri Muhendislik Sanayi ve Ticaret AS ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Brockhaus Capital Management AG
F:BKHT
|
$171.34 Million |
|
Dat Phuong JSC
VN:DPG
|
$171.38 Million |
|
Golden Ventures Leasehold Real Estate Investment Trust
BK:GVREIT
|
$171.43 Million |
|
Mendelson Infrastructures and Industries Ltd
TA:MNIN
|
$171.44 Million |
|
Atlan Holdings Bhd
KLSE:7048
|
$171.31 Million |
|
J.G.CHEMICALS LIMITED
NSE:JGCHEM
|
$171.29 Million |
|
Bluerock Acquisition Corp. Class A Ordinary Shares
NASDAQ:BLRK
|
$171.29 Million |
|
Ekovest Bhd
KLSE:8877
|
$171.24 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Indeks Bilgisayar Sistemleri Muhendislik Sanayi ve Ticaret AS's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,213,814,820 to 4,711,075,936, a change of 1,497,261,116 (46.6%).
- Net income of 327,993,901 contributed positively to equity growth.
- Dividend payments of 282,265,173 reduced retained earnings.
- Other factors increased equity by 1,451,532,388.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | TL327.99 Million | +6.96% |
| Dividends Paid | TL282.27 Million | -5.99% |
| Other Changes | TL1.45 Billion | +30.81% |
| Total Change | TL- | 46.59% |
Book Value vs Market Value Analysis
This analysis compares Indeks Bilgisayar Sistemleri Muhendislik Sanayi ve Ticaret AS'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: 1.62x
- 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 7.20x to 1.62x 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 | TL1.42 | TL10.20 | x |
| 2018-12-31 | TL1.68 | TL10.20 | x |
| 2019-12-31 | TL1.96 | TL10.20 | x |
| 2020-12-31 | TL2.48 | TL10.20 | x |
| 2021-12-31 | TL4.23 | TL10.20 | x |
| 2022-12-31 | TL6.46 | TL10.20 | x |
| 2023-12-31 | TL4.29 | TL10.20 | x |
| 2024-12-31 | TL6.28 | TL10.20 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Indeks Bilgisayar Sistemleri Muhendislik Sanayi ve Ticaret AS 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): 6.96%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.49%
- • Asset Turnover: 2.83x
- • Equity Multiplier: 4.99x
- Recent ROE (6.96%) is below the historical average (20.63%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2003 | 15.35% | 0.97% | 3.46x | 4.57x | TL1.63 Million |
| 2004 | 16.05% | 1.31% | 3.40x | 3.60x | TL3.05 Million |
| 2005 | 18.90% | 1.53% | 3.28x | 3.77x | TL5.47 Million |
| 2006 | 16.77% | 1.37% | 2.97x | 4.11x | TL5.00 Million |
| 2007 | 14.67% | 1.24% | 2.93x | 4.05x | TL4.03 Million |
| 2008 | 5.75% | 0.55% | 2.76x | 3.82x | TL-3.74 Million |
| 2009 | 15.32% | 1.47% | 2.49x | 4.20x | TL5.53 Million |
| 2010 | 11.90% | 1.07% | 2.28x | 4.86x | TL2.11 Million |
| 2011 | 14.79% | 1.22% | 2.39x | 5.07x | TL5.97 Million |
| 2012 | 13.26% | 1.18% | 2.11x | 5.34x | TL4.09 Million |
| 2013 | 3.98% | 0.32% | 2.14x | 5.79x | TL-7.84 Million |
| 2014 | 16.47% | 1.14% | 2.08x | 6.94x | TL9.89 Million |
| 2015 | 25.15% | 1.33% | 2.44x | 7.76x | TL27.06 Million |
| 2016 | 26.93% | 1.37% | 2.67x | 7.37x | TL32.69 Million |
| 2017 | 48.97% | 3.29% | 2.44x | 6.10x | TL123.75 Million |
| 2018 | 32.32% | 3.12% | 2.57x | 4.04x | TL84.01 Million |
| 2019 | 21.04% | 1.84% | 2.22x | 5.16x | TL48.54 Million |
| 2020 | 25.78% | 1.40% | 2.53x | 7.30x | TL87.74 Million |
| 2021 | 42.51% | 3.08% | 1.88x | 7.33x | TL308.22 Million |
| 2022 | 38.12% | 2.20% | 2.97x | 5.82x | TL406.83 Million |
| 2023 | 22.83% | 1.03% | 4.10x | 5.40x | TL412.38 Million |
| 2024 | 6.96% | 0.49% | 2.83x | 4.99x | TL-143.11 Million |
Industry Comparison
This section compares Indeks Bilgisayar Sistemleri Muhendislik Sanayi ve Ticaret AS's net assets metrics with peer companies in the Electronics & Computer Distribution industry.
Industry Context
- Industry: Electronics & Computer Distribution
- Average net assets among peers: $1,766,913,839
- Average return on equity (ROE) among peers: 11.29%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Indeks Bilgisayar Sistemleri Muhendislik Sanayi ve Ticaret AS (INDES) | TL6.71 Billion | 15.35% | 3.77x | $171.34 Million |
| Arena Bilgisayar Sanayi ve Ticaret AS (ARENA) | $255.25 Million | 5.60% | 1.80x | $86.23 Million |
| Aztek Teknoloji Urunleri Ticaret A.S. (AZTEK) | $1.18 Billion | 14.19% | 0.84x | $100.12 Million |
| Despec Bilgisayar Pazarlama ve Ticaret AS (DESPC) | $77.44 Million | 26.86% | 0.54x | $22.67 Million |
| Datagate Bilgisayar Malzemeleri Ticaret AS (DGATE) | $16.85 Million | 11.01% | 3.79x | $59.52 Million |
| Ingram Micro Bilisim Sistemleri A.S. (INGRM) | $978.60 Million | 6.83% | 5.84x | $230.47 Million |
| Mobiltel Iletisim Hizmetleri Sanayi ve Ticaret AS (MOBTL) | $7.31 Billion | 6.87% | 0.45x | $304.18 Million |
| Penta Teknoloji Urunleri Dagitim Ticaret AS (PENTA) | $2.54 Billion | 7.69% | 2.17x | $126.04 Million |
About Indeks Bilgisayar Sistemleri Muhendislik Sanayi ve Ticaret AS
Indeks Bilgisayar Sistemleri Mühendislik Sanayi ve Ticaret Anonim Sirketi distributes IT products in Turkey. The company's products portfolio includes computers/tablets, smartphones, printers, consumer electronics, software, peripherals, wearable technologies, data storage products, smart home products, and accessories. It purchases and sells spare parts and home electronics, as well as provides … Read more