Fiamma Holdings Bhd (6939) - Net Assets

Latest as of December 2025: RM777.90 Million MYR ≈ $195.30 Million USD

Based on the latest financial reports, Fiamma Holdings Bhd (6939) has net assets worth RM777.90 Million MYR (≈ $195.30 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (RM966.16 Million ≈ $242.57 Million USD) and total liabilities (RM188.26 Million ≈ $47.27 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 6939 asset liquidity ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	RM777.90 Million
% of Total Assets	80.51%
Annual Growth Rate	8.41%
5-Year Change	46.41%
10-Year Change	81.36%
Growth Volatility	4.12

Fiamma Holdings Bhd - Net Assets Trend (2012–2025)

This chart illustrates how Fiamma Holdings Bhd's net assets have evolved over time, based on quarterly financial data. Also explore Fiamma Holdings Bhd (6939) total assets for the complete picture of this company's asset base.

Annual Net Assets for Fiamma Holdings Bhd (2012–2025)

The table below shows the annual net assets of Fiamma Holdings Bhd from 2012 to 2025. For live valuation and market cap data, see market cap of Fiamma Holdings Bhd.

Year	Net Assets	Change
2025-09-30	RM779.45 Million ≈ $195.70 Million	+6.78%
2024-09-30	RM729.96 Million ≈ $183.27 Million	+8.60%
2023-09-30	RM672.13 Million ≈ $168.75 Million	+16.17%
2022-09-30	RM578.57 Million ≈ $145.26 Million	+8.67%
2021-09-30	RM532.38 Million ≈ $133.66 Million	+4.71%
2020-09-30	RM508.44 Million ≈ $127.65 Million	+3.87%
2019-09-30	RM489.50 Million ≈ $122.90 Million	+2.29%
2018-09-30	RM478.56 Million ≈ $120.15 Million	+4.75%
2017-09-30	RM456.87 Million ≈ $114.71 Million	+6.30%
2016-09-30	RM429.77 Million ≈ $107.90 Million	+10.48%
2015-09-30	RM389.00 Million ≈ $97.67 Million	+15.43%
2014-09-30	RM337.00 Million ≈ $84.61 Million	+11.59%
2013-09-30	RM302.00 Million ≈ $75.82 Million	+10.62%
2012-09-30	RM273.00 Million ≈ $68.54 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Fiamma Holdings Bhd'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 241.6% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (September 2025)

Component	Amount	Percentage
Retained Earnings	RM476.39 Million	61.18%
Other Components	RM302.25 Million	38.82%
Total Equity	RM778.64 Million	100.00%

Fiamma Holdings Bhd Competitors by Market Cap

The table below lists competitors of Fiamma Holdings Bhd ranked by their market capitalization.

Company	Market Cap
Chialin Precision Industrial Co Ltd TWO:3310	$143.85 Million
Bny Mellon Municipal Income Inc NYSE MKT:DMF	$143.85 Million
Basso Industry Corp TW:1527	$143.85 Million
NSE SA PA:ALNSE	$143.88 Million
Limes Schlosskliniken AG XETRA:LIK	$143.66 Million
eCloudvalley Digital Technology Co. Ltd. TW:6689	$143.54 Million
K N Kenanga Holdings Bhd KLSE:6483	$143.52 Million
AAPICO Hitech Public Company Limited BK:AH	$143.52 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Fiamma Holdings Bhd's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 711,694,000 to 778,641,000, a change of 66,947,000 (9.4%).
Net income of 64,889,000 contributed positively to equity growth.
Share repurchases of 45,000 reduced equity.
New share issuances of 45,000 increased equity.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	RM64.89 Million	+8.33%
Share Repurchases	RM45.00K	-0.01%
Share Issuances	RM45.00K	+0.01%
Other Changes	RM2.06 Million	+0.26%
Total Change	RM-	9.41%

Book Value vs Market Value Analysis

This analysis compares Fiamma Holdings Bhd'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: 0.74x
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 1.31x to 0.74x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2016-09-30	RM0.82	RM1.08	x
2017-09-30	RM0.90	RM1.08	x
2018-09-30	RM0.95	RM1.08	x
2019-09-30	RM0.99	RM1.08	x
2020-09-30	RM1.04	RM1.08	x
2021-09-30	RM1.08	RM1.08	x
2022-09-30	RM1.14	RM1.08	x
2023-09-30	RM1.27	RM1.08	x
2024-09-30	RM1.34	RM1.08	x
2025-09-30	RM1.47	RM1.08	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Fiamma Holdings Bhd 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): 8.33%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 17.02%
• Asset Turnover: 0.39x
• Equity Multiplier: 1.24x
Recent ROE (8.33%) is above the historical average (6.72%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2016	5.40%	8.18%	0.41x	1.63x	RM-19.76 Million
2017	4.93%	7.13%	0.43x	1.61x	RM-23.18 Million
2018	6.74%	9.52%	0.42x	1.67x	RM-15.61 Million
2019	5.66%	8.21%	0.42x	1.65x	RM-21.23 Million
2020	6.92%	9.30%	0.45x	1.65x	RM-15.65 Million
2021	6.48%	10.21%	0.44x	1.45x	RM-18.74 Million
2022	6.37%	9.96%	0.46x	1.40x	RM-21.01 Million
2023	10.81%	14.95%	0.53x	1.36x	RM5.45 Million
2024	5.59%	10.62%	0.37x	1.42x	RM-31.35 Million
2025	8.33%	17.02%	0.39x	1.24x	RM-12.98 Million

Industry Comparison

This section compares Fiamma Holdings Bhd's net assets metrics with peer companies in the Furnishings, Fixtures & Appliances industry.

Industry Context

Industry: Furnishings, Fixtures & Appliances
Average net assets among peers: $255,034,003
Average return on equity (ROE) among peers: 17.97%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Fiamma Holdings Bhd (6939)	RM777.90 Million	5.40%	0.24x	$143.79 Million
Wegmans Holdings Berhad (0197)	$128.21 Million	5.47%	0.47x	$12.32 Million
Spring Art Holdings Bhd (0216)	$26.81 Million	29.32%	0.30x	$12.00 Million
Mobilia Holdings Bhd (0229)	$79.63 Million	16.67%	0.49x	$16.51 Million
Ecomate Holdings Bhd (0239)	$32.69 Million	21.70%	0.73x	$153.71 Million
Synergy House Berhad (0279)	$20.19 Million	59.96%	3.30x	$24.48 Million
Topmix Berhad (0302)	$21.57 Million	20.48%	1.42x	$46.97 Million
FACB Industries Incorporated (2984)	$211.92 Million	3.44%	0.13x	$35.38 Million
Panasonic Manufacture Malaysia (3719)	$812.72 Million	14.33%	0.20x	$109.81 Million
Evergreen Fibreboard Bhd (5101)	$1.01 Billion	-2.58%	0.30x	$27.57 Million
Homeritz Corporation Bhd (5160)	$204.49 Million	10.92%	0.14x	$43.78 Million

About Fiamma Holdings Bhd

KLSE:6939 Malaysia Furnishings, Fixtures & Appliances

Market Cap

$143.79 Million

RM572.73 Million MYR

Market Cap Rank

#17906 Global

#264 in Malaysia

Share Price

RM1.08

Change (1 day)

+0.00%

52-Week Range

RM1.01 - RM1.25

All Time High

RM1.30