Smartiks Yazilim AS (SMART) - Net Assets
Based on the latest financial reports, Smartiks Yazilim AS (SMART) has net assets worth TL385.70 Million TRY (≈ $8.64 Million USD) as of March 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (TL492.92 Million ≈ $11.04 Million USD) and total liabilities (TL107.22 Million ≈ $2.40 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 Smartiks Yazilim AS strategic asset allocation index to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | TL385.70 Million |
| % of Total Assets | 78.25% |
| Annual Growth Rate | 51.54% |
| 5-Year Change | 430.91% |
| 10-Year Change | N/A |
| Growth Volatility | 115.44 |
Smartiks Yazilim AS - Net Assets Trend (2017–2024)
This chart illustrates how Smartiks Yazilim AS's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see market value of Smartiks Yazilim AS.
Annual Net Assets for Smartiks Yazilim AS (2017–2024)
The table below shows the annual net assets of Smartiks Yazilim AS from 2017 to 2024. Also explore Smartiks Yazilim AS (SMART) net asset momentum to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | TL346.23 Million ≈ $7.75 Million |
+3.97% |
| 2023-12-31 | TL333.01 Million ≈ $7.46 Million |
+341.78% |
| 2022-12-31 | TL75.38 Million ≈ $1.69 Million |
+9.39% |
| 2021-12-31 | TL68.90 Million ≈ $1.54 Million |
+5.66% |
| 2020-12-31 | TL65.21 Million ≈ $1.46 Million |
+5.70% |
| 2019-12-31 | TL61.70 Million ≈ $1.38 Million |
+123.46% |
| 2018-12-31 | TL27.61 Million ≈ $618.40K |
+46.42% |
| 2017-12-31 | TL18.86 Million ≈ $422.35K |
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Equity Component Analysis
This analysis shows how different components contribute to Smartiks Yazilim 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 371.8% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | TL365.55 Million | 105.58% |
| Total Equity | TL346.23 Million | 100.00% |
Smartiks Yazilim AS Competitors by Market Cap
The table below lists competitors of Smartiks Yazilim AS ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Vakif Menkul Kiymet Yatirim Ortakligi AS
IS:VKFYO
|
$13.43 Million |
|
Tira Austenite Tbk
JK:TIRA
|
$13.44 Million |
|
InnoTherapy Inc
KQ:246960
|
$13.44 Million |
|
ChowChow Cloud International Holdings Limited
NYSE MKT:CHOW
|
$13.44 Million |
|
Mg Internation
PA:ALMGI
|
$13.42 Million |
|
PN Poong Nyun Co. Ltd
KQ:024940
|
$13.41 Million |
|
Serica Energy PLC
LSE:SQZ
|
$13.40 Million |
|
Terragen Holdings Ltd
AU:TGH
|
$13.40 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Smartiks Yazilim AS's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 333,005,292 to 346,229,476, a change of 13,224,184 (4.0%).
- Net income of 12,316,347 contributed positively to equity growth.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | TL12.32 Million | +3.56% |
| Other Changes | TL907.84K | +0.26% |
| Total Change | TL- | 3.97% |
Book Value vs Market Value Analysis
This analysis compares Smartiks Yazilim 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: 1.73x
- 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 28.69x to 1.73x 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 | TL0.66 | TL18.82 | x |
| 2018-12-31 | TL0.96 | TL18.82 | x |
| 2019-12-31 | TL1.94 | TL18.82 | x |
| 2020-12-31 | TL2.05 | TL18.82 | x |
| 2021-12-31 | TL2.16 | TL18.82 | x |
| 2022-12-31 | TL2.37 | TL18.82 | x |
| 2023-12-31 | TL10.45 | TL18.82 | x |
| 2024-12-31 | TL10.87 | TL18.82 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Smartiks Yazilim 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): 3.56%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.07%
- • Asset Turnover: 0.45x
- • Equity Multiplier: 1.29x
- Recent ROE (3.56%) is below the historical average (13.39%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | 29.02% | 25.59% | 0.70x | 1.62x | TL3.59 Million |
| 2018 | 21.98% | 25.52% | 0.54x | 1.58x | TL3.31 Million |
| 2019 | 12.68% | 28.86% | 0.37x | 1.19x | TL1.65 Million |
| 2020 | 5.73% | 13.75% | 0.33x | 1.25x | TL-2.78 Million |
| 2021 | 5.53% | 10.49% | 0.39x | 1.35x | TL-3.08 Million |
| 2022 | 9.10% | 11.62% | 0.51x | 1.53x | TL-676.85K |
| 2023 | 19.50% | 26.83% | 0.56x | 1.31x | TL31.64 Million |
| 2024 | 3.56% | 6.07% | 0.45x | 1.29x | TL-22.31 Million |
Industry Comparison
This section compares Smartiks Yazilim AS's net assets metrics with peer companies in the Software - Infrastructure industry.
Industry Context
- Industry: Software - Infrastructure
- Average net assets among peers: $74,660,376
- Average return on equity (ROE) among peers: 58.85%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Smartiks Yazilim AS (SMART) | TL385.70 Million | 29.02% | 0.28x | $13.43 Million |
| Ard Grup Bilisim Teknolojileri AS (ARDYZ) | $173.52 Million | 37.85% | 0.12x | $228.87 Million |
| Atp Ticari Bilgisayar Agi ve Elektrik Guc Kaynaklari Uretim Pazarlama ve Ticaret (ATATP) | $46.75 Million | 57.10% | 2.56x | $141.63 Million |
| Kron Telekomunikasyon Hizmetleri AS (KRONT) | $3.71 Million | 81.60% | 2.18x | $73.48 Million |
About Smartiks Yazilim AS
Smartiks Yazilim A.S. provides business solutions, software development, and consultancy services in Türkiye. It offers data security, outsourcing, analysis and process management, data science, data warehouse, customer relationship management, human resources, and software development services. The company was founded in 2006 and is based in Istanbul, Türkiye.