Polisan Holding AS

IS:POLHO Turkey Specialty Chemicals
Market Cap
$473.98 Million
TL16.81 Billion TRY
Market Cap Rank
#11883 Global
#70 in Turkey
Share Price
TL22.16
Change (1 day)
+7.57%
52-Week Range
TL3.82 - TL23.14
All Time High
TL23.14
Categories
Companies in Turkey Specialty Chemicals
About

Polisan Holding A.S., together with its subsidiaries, engages in the production and sale of chemical products in Turkey. It operates through Chemical Products, Port, and Services segments. The company offers formaldehyde, formaldehyde resins, construction chemicals, and AUS 32; and bulk liquid storage, general warehouse, and loading and unloading services for dry bulk and general cargo vessels. I… Read more

Polisan Holding AS (POLHO) - Net Assets

Latest net assets as of September 2025: TL13.91 Billion TRY

Based on the latest financial reports, Polisan Holding AS (POLHO) has net assets worth TL13.91 Billion TRY as of September 2025.

Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (TL18.11 Billion) and total liabilities (TL4.20 Billion). 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.

Key Net Assets Metrics

Metric Value
Current Net Assets TL13.91 Billion
% of Total Assets 76.79%
Annual Growth Rate 32.09%
5-Year Change 778.91%
10-Year Change 1755.59%
Growth Volatility 79.29

Polisan Holding AS - Net Assets Trend (2009–2024)

This chart illustrates how Polisan Holding AS's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.

Annual Net Assets for Polisan Holding AS (2009–2024)

The table below shows the annual net assets of Polisan Holding AS from 2009 to 2024.

Year Net Assets Change
2024-12-31 TL15.43 Billion -5.07%
2023-12-31 TL16.26 Billion +314.15%
2022-12-31 TL3.93 Billion +91.78%
2021-12-31 TL2.05 Billion +16.56%
2020-12-31 TL1.76 Billion +22.17%
2019-12-31 TL1.44 Billion -3.74%
2018-12-31 TL1.49 Billion +0.93%
2017-12-31 TL1.48 Billion +12.71%
2016-12-31 TL1.31 Billion +57.82%
2015-12-31 TL831.77 Million +4.22%
2014-12-31 TL798.06 Million +35.00%
2013-12-31 TL591.15 Million +3.20%
2012-12-31 TL572.83 Million +18.27%
2011-12-31 TL484.33 Million -1.66%
2010-12-31 TL492.50 Million +107.46%
2009-12-31 TL237.40 Million --

Equity Component Analysis

This analysis shows how different components contribute to Polisan Holding 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 6759.4% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component Amount Percentage
Retained Earnings TL5.26 Billion 34.07%
Other Components TL10.18 Billion 65.93%
Total Equity TL15.43 Billion 100.00%

Polisan Holding AS Competitors by Market Cap

The table below lists competitors of Polisan Holding AS ranked by their market capitalization.

Company Market Cap
Harbin Dongan Auto Engine Co Ltd
SHG:600178
 		$363.00 Million
Future Corporation
MU:FSX
 		$363.16 Million
Kunshan Asia Aroma Corp. Ltd.
SHE:301220
 		$363.36 Million
Card Factory plc
PINK:CRFCF
 		$363.36 Million
Guangzhou Hengyun Enterprises Holding Ltd
SHE:000531
 		$362.93 Million
Jensen-Group NV
BR:JEN
 		$362.87 Million
Southern Cross Electrical Engineering Ltd
AU:SXE
 		$362.85 Million
Kindom Construction Corp
TW:2520
 		$362.82 Million

Equity Growth Attribution

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

Equity Growth Insights

  • From 2023 to 2024, total equity changed from 16,257,753,075 to 15,434,191,576, a change of -823,561,499 (-5.1%).
  • Net loss of 633,267,758 reduced equity.
  • Dividend payments of 106,900,066 reduced retained earnings.

Equity Change Factors (2023 to 2024)

Factor Impact Contribution
Net Income TL-633.27 Million -4.1%
Dividends Paid TL106.90 Million -0.69%
Other Changes TL-83.39 Million -0.54%
Total Change TL- -5.07%

Book Value vs Market Value Analysis

This analysis compares Polisan Holding 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: 5.42x
  • The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
  • The price-to-book ratio has decreased from 11.57x to 5.42x 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 TL1.92 TL22.16 x
2018-12-31 TL1.93 TL22.16 x
2019-12-31 TL1.89 TL22.16 x
2020-12-31 TL2.32 TL22.16 x
2021-12-31 TL2.70 TL22.16 x
2022-12-31 TL5.18 TL22.16 x
2023-12-31 TL4.31 TL22.16 x
2024-12-31 TL4.09 TL22.16 x

Capital Efficiency Dashboard

This dashboard shows how efficiently Polisan Holding 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): -4.10%
  • The company may be facing challenges in efficiently utilizing shareholder equity.
  • DuPont Analysis Breakdown:
  • • Net Profit Margin: -10.23%
  • • Asset Turnover: 0.32x
  • • Equity Multiplier: 1.26x
  • Recent ROE (-4.10%) is below the historical average (10.59%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year Return on Equity Net Profit Margin Asset Turnover Equity Multiplier Economic Value Added
2012 8.53% 9.42% 0.54x 1.68x TL-8.25 Million
2013 4.86% 4.81% 0.50x 2.02x TL-29.74 Million
2014 5.41% 5.45% 0.50x 1.98x TL-35.77 Million
2015 4.06% 7.61% 0.26x 2.02x TL-48.24 Million
2016 36.55% 100.48% 0.28x 1.32x TL343.31 Million
2017 6.79% 13.16% 0.38x 1.36x TL-46.66 Million
2018 1.90% 2.39% 0.52x 1.54x TL-118.58 Million
2019 4.55% 6.45% 0.44x 1.59x TL-78.41 Million
2020 7.21% 12.04% 0.37x 1.60x TL-48.99 Million
2021 13.68% 14.22% 0.53x 1.83x TL75.25 Million
2022 41.57% 38.88% 0.72x 1.49x TL1.24 Billion
2023 6.64% 13.34% 0.40x 1.24x TL-546.18 Million
2024 -4.10% -10.23% 0.32x 1.26x TL-2.18 Billion

Industry Comparison

This section compares Polisan Holding AS's net assets metrics with peer companies in the Specialty Chemicals industry.

Industry Context

  • Industry: Specialty Chemicals
  • Average net assets among peers: $318,412,401
  • Average return on equity (ROE) among peers: 10.13%

Peer Company Comparison

Company Net Assets Return on Equity Debt-to-Equity Market Cap
Polisan Holding AS (POLHO) TL13.91 Billion 8.53% 0.30x $362.97 Million
Dinamik Isi Makina Yalitim Malzemeleri Sanayi ve Ticaret AS (DNISI) $31.81 Million 13.96% 0.67x $29.58 Million
DYO Boya Fabrikalari Sanayi ve Ticaret AS (DYOBY) $186.71 Million 10.82% 4.78x $27.16 Million
Gediz Ambalaj Sanayi ve Ticaret AS (GEDZA) $73.72 Million 15.33% 0.44x $24.40 Million
Kalekim Kimyevi Maddeler Sanayi & Ticaret AS (KLKIM) $124.55 Million 18.99% 1.39x $159.82 Million
Kimteks Poliuretan Sanayi ve Ticaret AS (KMPUR) $275.46 Million 29.19% 2.87x $31.51 Million
Koza Polyester Sanayi ve Ticaret A.S. (KOPOL) $266.09 Million 3.66% 2.42x $1.77K
Mega Polietilen Kopuk Sanayi ve Ticaret AS (MEGAP) $13.04 Million 2.15% 0.14x $16.98 Million
Mercan Kimya Sanayi ve Ticaret AS (MERCN) $1.79 Billion -3.35% 0.52x $9.33 Million
Marshall Boya ve Vernik Sanayi AS (MRSHL) $108.72 Million 0.46% 0.62x $335.34 Million