Polisan Holding AS (POLHO) - Net Assets

Latest as of September 2025: TL13.91 Billion TRY ≈ $311.49 Million USD

Based on the latest financial reports, Polisan Holding AS (POLHO) has net assets worth TL13.91 Billion TRY (≈ $311.49 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 (TL18.11 Billion ≈ $405.65 Million USD) and total liabilities (TL4.20 Billion ≈ $94.16 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 Polisan Holding AS (POLHO) liquid assets ratio to evaluate the company's liquid asset resilience ratio.

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. Also explore POLHO asset base for the complete picture of this company's asset base.

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. For live valuation and market cap data, see POLHO market cap overview.

Year	Net Assets	Change
2024-12-31	TL15.43 Billion ≈ $345.69 Million	-5.07%
2023-12-31	TL16.26 Billion ≈ $364.13 Million	+314.15%
2022-12-31	TL3.93 Billion ≈ $87.92 Million	+91.78%
2021-12-31	TL2.05 Billion ≈ $45.84 Million	+16.56%
2020-12-31	TL1.76 Billion ≈ $39.33 Million	+22.17%
2019-12-31	TL1.44 Billion ≈ $32.19 Million	-3.74%
2018-12-31	TL1.49 Billion ≈ $33.44 Million	+0.93%
2017-12-31	TL1.48 Billion ≈ $33.14 Million	+12.71%
2016-12-31	TL1.31 Billion ≈ $29.40 Million	+57.82%
2015-12-31	TL831.77 Million ≈ $18.63 Million	+4.22%
2014-12-31	TL798.06 Million ≈ $17.87 Million	+35.00%
2013-12-31	TL591.15 Million ≈ $13.24 Million	+3.20%
2012-12-31	TL572.83 Million ≈ $12.83 Million	+18.27%
2011-12-31	TL484.33 Million ≈ $10.85 Million	-1.66%
2010-12-31	TL492.50 Million ≈ $11.03 Million	+107.46%
2009-12-31	TL237.40 Million ≈ $5.32 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
Hangzhou IECHO Science & Technology Co. Ltd. A SHG:688092	$356.84 Million
Xuchang Ketop Testing Research Ins SHE:003008	$356.87 Million
Rashi Peripherals Limited NSE:RPTECH	$356.95 Million
Digi Communications NV RO:DIGI	$356.95 Million
Shenzhen Maxonic Auto Control SHE:300112	$356.74 Million
Austindo Nusantara Jaya Tbk JK:ANJT	$356.72 Million
GSR III Acquisition Corp. Ordinary Shares NASDAQ:GSRT	$356.55 Million
Shanghai Kaytune Industrial Co.Ltd SHE:301001	$356.46 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: 5.14x
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 10.96x to 5.14x 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	TL21.00	x
2018-12-31	TL1.93	TL21.00	x
2019-12-31	TL1.89	TL21.00	x
2020-12-31	TL2.32	TL21.00	x
2021-12-31	TL2.70	TL21.00	x
2022-12-31	TL5.18	TL21.00	x
2023-12-31	TL4.31	TL21.00	x
2024-12-31	TL4.09	TL21.00	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: $613,016,457
Average return on equity (ROE) among peers: 20.53%

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	$356.76 Million
Dinamik Isi Makina Yalitim Malzemeleri Sanayi ve Ticaret AS (DNISI)	$408.86 Million	15.30%	0.35x	$54.54 Million
DYO Boya Fabrikalari Sanayi ve Ticaret AS (DYOBY)	$186.71 Million	10.82%	4.78x	$120.27 Million
Gediz Ambalaj Sanayi ve Ticaret AS (GEDZA)	$37.14 Million	2.94%	0.23x	$35.65 Million
Kalekim Kimyevi Maddeler Sanayi & Ticaret AS (KLKIM)	$644.26 Million	33.11%	0.53x	$363.90 Million
Kimteks Poliuretan Sanayi ve Ticaret AS (KMPUR)	$2.72 Billion	32.27%	2.27x	$238.70 Million
Koza Polyester Sanayi ve Ticaret A.S. (KOPOL)	$707.67 Million	21.14%	1.62x	$169.06 Million
Mega Polietilen Kopuk Sanayi ve Ticaret AS (MEGAP)	$26.54 Million	25.42%	3.19x	$16.20 Million
Mercan Kimya Sanayi ve Ticaret AS (MERCN)	$671.77 Million	32.46%	0.77x	$102.67 Million
Marshall Boya ve Vernik Sanayi AS (MRSHL)	$116.06 Million	11.36%	0.42x	$405.07 Million

About Polisan Holding AS

IS:POLHO Turkey Specialty Chemicals

Market Cap

$356.76 Million

TL15.93 Billion TRY

Market Cap Rank

#14278 Global

#136 in Turkey

Share Price

TL21.00

Change (1 day)

+2.14%

52-Week Range

TL3.82 - TL23.56

All Time High

TL23.56