Ray Sigorta AS (RAYSG) - Net Assets

Latest as of March 2026: TL9.37 Billion TRY ≈ $209.80 Million USD

Based on the latest financial reports, Ray Sigorta AS (RAYSG) has net assets worth TL9.37 Billion TRY (≈ $209.80 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (TL42.30 Billion ≈ $947.31 Million USD) and total liabilities (TL32.93 Billion ≈ $737.50 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 RAYSG PP&E to net assets ratio to assess the company's strategic physical and investment asset allocation.

Key Net Assets Metrics

Metric	Value
Current Net Assets	TL9.37 Billion
% of Total Assets	22.15%
Annual Growth Rate	-29.5%
5-Year Change	1822.77%
10-Year Change	6592.88%
Growth Volatility	61.89

Ray Sigorta AS - Net Assets Trend (2002–2025)

This chart illustrates how Ray Sigorta AS's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see Ray Sigorta AS (RAYSG) market capitalisation.

Annual Net Assets for Ray Sigorta AS (2002–2025)

The table below shows the annual net assets of Ray Sigorta AS from 2002 to 2025. Also explore Ray Sigorta AS (RAYSG) net asset momentum to track the company's year-over-year net asset growth rate.

Year	Net Assets	Change
2025-12-31	TL8.46 Billion ≈ $189.38 Million	+93.08%
2024-12-31	TL4.38 Billion ≈ $98.08 Million	+116.92%
2023-12-31	TL2.02 Billion ≈ $45.21 Million	+126.60%
2022-12-31	TL890.88 Million ≈ $19.95 Million	+102.59%
2021-12-31	TL439.74 Million ≈ $9.85 Million	+30.14%
2020-12-31	TL337.90 Million ≈ $7.57 Million	+28.89%
2019-12-31	TL262.15 Million ≈ $5.87 Million	+23.56%
2018-12-31	TL212.17 Million ≈ $4.75 Million	+14.73%
2017-12-31	TL184.93 Million ≈ $4.14 Million	+46.38%
2016-12-31	TL126.33 Million ≈ $2.83 Million	+34.38%
2015-12-31	TL94.01 Million ≈ $2.11 Million	-14.26%
2014-12-31	TL109.65 Million ≈ $2.46 Million	+11.44%
2013-12-31	TL98.39 Million ≈ $2.20 Million	+9.09%
2012-12-31	TL90.20 Million ≈ $2.02 Million	+4.32%
2011-12-31	TL86.46 Million ≈ $1.94 Million	+67.85%
2010-12-31	TL51.51 Million ≈ $1.15 Million	+29.35%
2009-12-31	TL39.82 Million ≈ $891.93K	-36.02%
2008-12-31	TL62.24 Million ≈ $1.39 Million	+26.82%
2007-12-31	TL49.08 Million ≈ $1.10 Million	+203.04%
2006-12-31	TL16.20 Million ≈ $362.75K	-26.08%
2005-12-31	TL21.91 Million ≈ $490.71K	-17.47%
2004-12-31	TL26.55 Million ≈ $594.58K	-100.00%
2003-12-31	TL29.17 Trillion ≈ $653.42 Billion	+11.28%
2002-12-31	TL26.22 Trillion ≈ $587.19 Billion	--

Equity Component Analysis

This analysis shows how different components contribute to Ray Sigorta 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 decreased by 99.9% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	TL7.04 Billion	83.28%
Other Components	TL1.41 Billion	16.72%
Total Equity	TL8.46 Billion	100.00%

Ray Sigorta AS Competitors by Market Cap

The table below lists competitors of Ray Sigorta AS ranked by their market capitalization.

Company	Market Cap
Mennica Polska S.A. WAR:MNC	$534.75 Million
CJ ENM CO. Ltd KQ:035760	$534.79 Million
YLZ Information Tech Co SHE:300096	$534.84 Million
Akis Gayrimenkul Yatirim Ortakligi AS IS:AKSGY	$534.95 Million
Hello Group Inc NASDAQ:MOMO	$534.60 Million
Elmera Group ASA OL:ELMRA	$534.45 Million
Ur Energy Inc NYSE MKT:URG	$534.22 Million
Guangdong Sunwill Precising Plastic Co Ltd SHE:002676	$534.17 Million

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 4,379,069,037 to 8,455,252,381, a change of 4,076,183,344 (93.1%).
Net income of 3,737,213,074 contributed positively to equity growth.
Other factors increased equity by 338,970,270.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	TL3.74 Billion	+44.2%
Other Changes	TL338.97 Million	+4.01%
Total Change	TL-	93.08%

Book Value vs Market Value Analysis

This analysis compares Ray Sigorta 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: 2.82x
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 129.10x to 2.82x 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	TL1.13	TL146.40	x
2018-12-31	TL1.30	TL146.40	x
2019-12-31	TL1.61	TL146.40	x
2020-12-31	TL2.07	TL146.40	x
2021-12-31	TL2.70	TL146.40	x
2022-12-31	TL5.46	TL146.40	x
2023-12-31	TL12.38	TL146.40	x
2024-12-31	TL26.85	TL146.40	x
2025-12-31	TL51.85	TL146.40	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Ray Sigorta 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): 44.20%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 11.77%
• Asset Turnover: 0.77x
• Equity Multiplier: 4.85x
Recent ROE (44.20%) is above the historical average (16.45%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2008	1.04%	0.43%	0.55x	4.35x	TL-5.58 Million
2011	0.39%	0.24%	0.46x	3.54x	TL-8.31 Million
2012	4.14%	2.39%	0.49x	3.58x	TL-5.28 Million
2013	8.70%	4.99%	0.45x	3.87x	TL-1.27 Million
2014	2.17%	1.37%	0.43x	3.66x	TL-8.59 Million
2015	-15.76%	-7.67%	0.43x	4.79x	TL-24.22 Million
2016	26.03%	8.94%	0.63x	4.63x	TL20.25 Million
2017	11.51%	4.82%	0.60x	3.98x	TL2.79 Million
2018	13.38%	5.62%	0.54x	4.37x	TL7.17 Million
2019	19.10%	7.51%	0.52x	4.87x	TL23.87 Million
2020	17.44%	7.24%	0.45x	5.30x	TL25.13 Million
2021	15.54%	5.72%	0.52x	5.19x	TL24.34 Million
2022	20.17%	8.43%	0.39x	6.11x	TL90.63 Million
2023	44.68%	15.06%	0.55x	5.38x	TL700.06 Million
2024	50.51%	15.03%	0.57x	5.85x	TL1.77 Billion
2025	44.20%	11.77%	0.77x	4.85x	TL2.89 Billion

Industry Comparison

This section compares Ray Sigorta AS's net assets metrics with peer companies in the Insurance - Diversified industry.

Industry Context

Industry: Insurance - Diversified
Average net assets among peers: $1,182,169,967
Average return on equity (ROE) among peers: 25.25%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Ray Sigorta AS (RAYSG)	TL9.37 Billion	1.04%	3.52x	$534.70 Million
Agesa Hayat ve Emeklilik AS (AGESA)	$1.69 Billion	51.73%	50.80x	$983.69 Million
AK Sigorta AS (AKGRT)	$1.05 Billion	18.05%	6.04x	$207.96 Million
Anadolu Anonim Turk Sigorta Sti (ANSGR)	$806.39 Million	5.97%	1.16x	$1.20 Billion

About Ray Sigorta AS

IS:RAYSG Turkey Insurance - Diversified

Market Cap

$534.70 Million

TL23.87 Billion TRY

Market Cap Rank

#11914 Global

#104 in Turkey

Share Price

TL146.40

Change (1 day)

-2.72%

52-Week Range

TL146.40 - TL272.25

All Time High

TL748.00