Gudang Garam Tbk
PT Gudang Garam Tbk, together with its subsidiaries, engages in the manufacture and sale of cigarettes in Indonesia and internationally. It operates through Cigarettes, Paperboards, Infrastructure, and Others segments. The company offers hand-rolled, machine-made, and klobot clove cigarettes. The company markets its products under the Gudang Garam Family, Surya Family, and GG Family brand names. … Read more
Gudang Garam Tbk (GGRM) - Net Assets
Latest net assets as of September 2025: Rp62.06 Trillion IDR
Based on the latest financial reports, Gudang Garam Tbk (GGRM) has net assets worth Rp62.06 Trillion IDR as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rp76.50 Trillion) and total liabilities (Rp14.43 Trillion). 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 | Rp62.06 Trillion |
| % of Total Assets | 81.13% |
| Annual Growth Rate | 10.13% |
| 5-Year Change | 5.8% |
| 10-Year Change | 62.9% |
| Growth Volatility | 7.47 |
Gudang Garam Tbk - Net Assets Trend (2000–2024)
This chart illustrates how Gudang Garam Tbk's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Gudang Garam Tbk (2000–2024)
The table below shows the annual net assets of Gudang Garam Tbk from 2000 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | Rp61.92 Trillion | +1.73% |
| 2023-12-31 | Rp60.86 Trillion | +5.20% |
| 2022-12-31 | Rp57.86 Trillion | -2.42% |
| 2021-12-31 | Rp59.29 Trillion | +1.31% |
| 2020-12-31 | Rp58.52 Trillion | +14.91% |
| 2019-12-31 | Rp50.93 Trillion | +12.85% |
| 2018-12-31 | Rp45.13 Trillion | +6.98% |
| 2017-12-31 | Rp42.19 Trillion | +6.63% |
| 2016-12-31 | Rp39.56 Trillion | +4.09% |
| 2015-12-31 | Rp38.01 Trillion | +14.38% |
| 2014-12-31 | Rp33.23 Trillion | +12.96% |
| 2013-12-31 | Rp29.42 Trillion | +10.56% |
| 2012-12-31 | Rp26.61 Trillion | +8.37% |
| 2011-12-31 | Rp24.55 Trillion | +15.15% |
| 2010-12-31 | Rp21.32 Trillion | +15.98% |
| 2009-12-31 | Rp18.38 Trillion | +18.45% |
| 2008-12-31 | Rp15.52 Trillion | +9.76% |
| 2007-12-31 | Rp14.14 Trillion | +7.32% |
| 2006-12-31 | Rp13.17 Trillion | +0.36% |
| 2005-12-31 | Rp13.13 Trillion | +7.62% |
| 2004-12-31 | Rp12.20 Trillion | +11.18% |
| 2003-12-31 | Rp10.97 Trillion | +12.99% |
| 2002-12-31 | Rp9.71 Trillion | +18.44% |
| 2001-12-31 | Rp8.20 Trillion | +34.15% |
| 2000-12-31 | Rp6.11 Trillion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Gudang Garam Tbk'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 1113.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | Rp60.73 Trillion | 98.09% |
| Common Stock | Rp962.04 Billion | 1.55% |
| Other Comprehensive Income | Rp200.00 Billion | 0.32% |
| Other Components | Rp20.32 Billion | 0.03% |
| Total Equity | Rp61.92 Trillion | 100.00% |
Gudang Garam Tbk Competitors by Market Cap
The table below lists competitors of Gudang Garam Tbk ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
SuZhou ChunXing Precision Mechanical Co Ltd
SHE:002547
|
$393.87 Million |
|
Shenzhen Zqgame
SHE:300052
|
$393.91 Million |
|
Cineplex Inc
PINK:CPXGF
|
$393.97 Million |
|
YLZ Information Tech Co
SHE:300096
|
$393.99 Million |
|
Sichuan Shengda Forestry Industry Co Ltd
SHE:002259
|
$393.15 Million |
|
PT Semen Indonesia (Persero) Tbk
PINK:PSGTF
|
$392.99 Million |
|
Shandong Synthesis Electronic Technology Co Ltd
SHE:300479
|
$392.85 Million |
|
Yan Tai Shuang Ta Food Co Ltd
SHE:002481
|
$392.82 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Gudang Garam Tbk's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 60,862,772,000,000 to 61,916,521,000,000, a change of 1,053,749,000,000 (1.7%).
- Net income of 980,805,000,000 contributed positively to equity growth.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Rp980.80 Billion | +1.58% |
| Other Changes | Rp72.94 Billion | +0.12% |
| Total Change | Rp- | 1.73% |
Book Value vs Market Value Analysis
This analysis compares Gudang Garam Tbk'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: 0.44x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 2.05x to 0.44x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2005-12-31 | Rp6814.37 | Rp14000.00 | x |
| 2006-12-31 | Rp6838.17 | Rp14000.00 | x |
| 2007-12-31 | Rp7338.44 | Rp14000.00 | x |
| 2008-12-31 | Rp8065.78 | Rp14000.00 | x |
| 2009-12-31 | Rp9511.80 | Rp14000.00 | x |
| 2010-12-31 | Rp11016.73 | Rp14000.00 | x |
| 2011-12-31 | Rp12680.30 | Rp14000.00 | x |
| 2012-12-31 | Rp13759.55 | Rp14000.00 | x |
| 2013-12-31 | Rp15209.31 | Rp14000.00 | x |
| 2014-12-31 | Rp17199.50 | Rp14000.00 | x |
| 2015-12-31 | Rp19697.69 | Rp14000.00 | x |
| 2016-12-31 | Rp20522.46 | Rp14000.00 | x |
| 2017-12-31 | Rp21917.44 | Rp14000.00 | x |
| 2018-12-31 | Rp23456.95 | Rp14000.00 | x |
| 2019-12-31 | Rp26470.05 | Rp14000.00 | x |
| 2020-12-31 | Rp30415.66 | Rp14000.00 | x |
| 2021-12-31 | Rp30813.67 | Rp14000.00 | x |
| 2022-12-31 | Rp30069.26 | Rp14000.00 | x |
| 2023-12-31 | Rp31632.01 | Rp14000.00 | x |
| 2024-12-31 | Rp32179.67 | Rp14000.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Gudang Garam Tbk 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): 1.58%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.99%
- • Asset Turnover: 1.16x
- • Equity Multiplier: 1.37x
- Recent ROE (1.58%) is below the historical average (15.74%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 36.71% | 14.99% | 1.38x | 1.77x | Rp1.63 Trillion |
| 2001 | 25.46% | 11.62% | 1.34x | 1.64x | Rp1.27 Trillion |
| 2002 | 21.49% | 9.97% | 1.36x | 1.59x | Rp1.12 Trillion |
| 2003 | 16.76% | 7.95% | 1.33x | 1.58x | Rp741.59 Billion |
| 2004 | 14.69% | 7.37% | 1.18x | 1.69x | Rp571.82 Billion |
| 2005 | 14.42% | 7.61% | 1.12x | 1.69x | Rp579.73 Billion |
| 2006 | 7.67% | 3.83% | 1.21x | 1.65x | Rp-306.23 Billion |
| 2007 | 10.24% | 5.14% | 1.18x | 1.69x | Rp33.97 Billion |
| 2008 | 12.12% | 6.22% | 1.26x | 1.55x | Rp328.57 Billion |
| 2009 | 18.88% | 10.48% | 1.21x | 1.49x | Rp1.63 Trillion |
| 2010 | 19.88% | 11.18% | 1.23x | 1.45x | Rp2.10 Trillion |
| 2011 | 20.32% | 11.84% | 1.07x | 1.60x | Rp2.52 Trillion |
| 2012 | 15.16% | 8.19% | 1.18x | 1.57x | Rp1.37 Trillion |
| 2013 | 14.79% | 7.81% | 1.09x | 1.73x | Rp1.40 Trillion |
| 2014 | 16.22% | 8.24% | 1.12x | 1.76x | Rp2.06 Trillion |
| 2015 | 16.98% | 9.15% | 1.11x | 1.68x | Rp2.65 Trillion |
| 2016 | 16.91% | 8.75% | 1.21x | 1.59x | Rp2.73 Trillion |
| 2017 | 18.39% | 9.31% | 1.25x | 1.58x | Rp3.54 Trillion |
| 2018 | 17.26% | 8.14% | 1.39x | 1.53x | Rp3.28 Trillion |
| 2019 | 21.36% | 9.84% | 1.41x | 1.54x | Rp5.79 Trillion |
| 2020 | 13.07% | 6.68% | 1.46x | 1.34x | Rp1.80 Trillion |
| 2021 | 9.45% | 4.49% | 1.39x | 1.52x | Rp-323.51 Billion |
| 2022 | 4.80% | 2.23% | 1.41x | 1.53x | Rp-3.01 Trillion |
| 2023 | 8.75% | 4.48% | 1.29x | 1.52x | Rp-761.76 Billion |
| 2024 | 1.58% | 0.99% | 1.16x | 1.37x | Rp-5.21 Trillion |
Industry Comparison
This section compares Gudang Garam Tbk's net assets metrics with peer companies in the Tobacco industry.
Industry Context
- Industry: Tobacco
- Average net assets among peers: $2,200,415,519,268
- Average return on equity (ROE) among peers: 18.03%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Gudang Garam Tbk (GGRM) | Rp62.06 Trillion | 36.71% | 0.23x | $393.73 Million |
| Hanjaya Mandala Sampoerna Tbk PT (HMSP) | $5.18 Trillion | 38.48% | 1.23x | $394.63 Million |
| Indonesian Tobacco Tbk PT (ITIC) | $433.30 Billion | 4.90% | 0.47x | $3.76 Million |
| Wismilak Inti Makmur Tbk (WIIM) | $991.09 Billion | 10.71% | 0.37x | $89.59 Million |