Choheung
Choheung Corporation produces dairy products. Its products include yeast, bread cream, cheese, pizza, and meal kits. The company was formerly known as Choheung Chemical Industry Co., Ltd. and changed its name to Choheung Corporation in September 2004. Choheung Corporation was founded in 1959 and is headquartered in Ansan-Si, South Korea.
Choheung (002600) - Net Assets
Latest net assets as of September 2025: ₩150.62 Billion KRW
Based on the latest financial reports, Choheung (002600) has net assets worth ₩150.62 Billion KRW as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₩436.26 Billion) and total liabilities (₩285.64 Billion). 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 | ₩150.62 Billion |
| % of Total Assets | 34.53% |
| Annual Growth Rate | 3.84% |
| 5-Year Change | 10.75% |
| 10-Year Change | 38.2% |
| Growth Volatility | 3.33 |
Choheung - Net Assets Trend (2013–2024)
This chart illustrates how Choheung's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Choheung (2013–2024)
The table below shows the annual net assets of Choheung from 2013 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ₩147.55 Billion | -1.40% |
| 2023-12-31 | ₩149.64 Billion | -2.95% |
| 2022-12-31 | ₩154.19 Billion | +5.80% |
| 2021-12-31 | ₩145.74 Billion | +9.39% |
| 2020-12-31 | ₩133.23 Billion | +2.91% |
| 2019-12-31 | ₩129.46 Billion | +3.14% |
| 2018-12-31 | ₩125.52 Billion | +4.26% |
| 2017-12-31 | ₩120.39 Billion | +6.38% |
| 2016-12-31 | ₩113.17 Billion | +5.99% |
| 2015-12-31 | ₩106.77 Billion | +5.03% |
| 2014-12-31 | ₩101.66 Billion | +4.30% |
| 2013-12-31 | ₩97.46 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Choheung'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 61.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₩144.55 Billion | 97.97% |
| Other Components | ₩3.00 Billion | 2.03% |
| Total Equity | ₩147.55 Billion | 100.00% |
Choheung Competitors by Market Cap
The table below lists competitors of Choheung ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Z-Com Inc
TWO:8176
|
$16.51 Million |
|
Jazz Resources Inc
PINK:JZRIF
|
$16.52 Million |
|
Daegu Dept Sto
KO:006370
|
$16.52 Million |
|
SMT Scharf AG
XETRA:S188
|
$16.52 Million |
|
Fluence Corporation Limited
PINK:EMFGF
|
$16.50 Million |
|
PS International Group Ltd. Ordinary Shares
NASDAQ:PSIG
|
$16.50 Million |
|
Infragreen Group Ltd
AU:IFN
|
$16.50 Million |
|
Case Group AB
ST:CASE
|
$16.50 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Choheung's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 149,640,119,000 to 147,550,831,370, a change of -2,089,287,630 (-1.4%).
- Net income of 2,514,305,700 contributed positively to equity growth.
- Dividend payments of 3,600,000,000 reduced retained earnings.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₩2.51 Billion | +1.7% |
| Dividends Paid | ₩3.60 Billion | -2.44% |
| Other Changes | ₩-1.00 Billion | -0.68% |
| Total Change | ₩- | -1.40% |
Book Value vs Market Value Analysis
This analysis compares Choheung'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: 0.61x
- 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 0.74x to 0.61x 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 | ₩200651.98 | ₩149200.00 | x |
| 2018-12-31 | ₩209195.57 | ₩149200.00 | x |
| 2019-12-31 | ₩215770.19 | ₩149200.00 | x |
| 2020-12-31 | ₩222051.00 | ₩149200.00 | x |
| 2021-12-31 | ₩242898.78 | ₩149200.00 | x |
| 2022-12-31 | ₩256975.24 | ₩149200.00 | x |
| 2023-12-31 | ₩249400.20 | ₩149200.00 | x |
| 2024-12-31 | ₩245918.05 | ₩149200.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Choheung 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): 1.70%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.59%
- • Asset Turnover: 1.07x
- • Equity Multiplier: 2.70x
- Recent ROE (1.70%) is below the historical average (5.91%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | 4.71% | 4.61% | 0.84x | 1.21x | ₩-5.15 Billion |
| 2014 | 5.19% | 4.68% | 0.86x | 1.28x | ₩-4.89 Billion |
| 2015 | 6.22% | 5.87% | 0.76x | 1.40x | ₩-4.04 Billion |
| 2016 | 7.18% | 6.26% | 0.79x | 1.44x | ₩-3.20 Billion |
| 2017 | 9.38% | 6.97% | 0.96x | 1.40x | ₩-740.86 Million |
| 2018 | 6.40% | 4.78% | 0.86x | 1.56x | ₩-4.52 Billion |
| 2019 | 6.06% | 4.02% | 0.89x | 1.68x | ₩-5.10 Billion |
| 2020 | 5.64% | 3.38% | 0.90x | 1.86x | ₩-5.81 Billion |
| 2021 | 11.03% | 6.41% | 0.94x | 1.84x | ₩1.50 Billion |
| 2022 | 7.22% | 3.44% | 0.75x | 2.81x | ₩-4.29 Billion |
| 2023 | 0.24% | 0.09% | 1.03x | 2.63x | ₩-14.61 Billion |
| 2024 | 1.70% | 0.59% | 1.07x | 2.70x | ₩-12.24 Billion |
Industry Comparison
This section compares Choheung's net assets metrics with peer companies in the Packaged Foods industry.
Industry Context
- Industry: Packaged Foods
- Average net assets among peers: $409,114,803,251
- Average return on equity (ROE) among peers: 5.30%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Choheung (002600) | ₩150.62 Billion | 4.71% | 1.90x | $16.50 Million |
| Daehan Flour Mills Co Ltd (001130) | $489.63 Billion | 6.13% | 0.50x | $92.10 Million |
| Daesang Corp (001680) | $484.66 Billion | 6.60% | 1.67x | $297.74 Million |
| Daesang Corp Preference Shares (001685) | $867.27 Billion | 7.45% | 1.66x | $257.13 Million |
| Korea Ind (002140) | $66.54 Billion | 7.12% | 1.23x | $24.66 Million |
| Sam Yang Foods (003230) | $53.38 Billion | 0.00% | 4.82x | $2.87 Billion |
| Daejoo Inc (003310) | $47.00 Billion | 3.26% | 0.70x | $60.49 Million |
| Harim Holdings Co. Ltd (003380) | $808.31 Billion | 21.63% | 7.74x | $434.99 Million |
| Hansung Ent (003680) | $52.28 Billion | 2.70% | 3.49x | $11.05 Million |
| Namyang Dairy (003920) | $812.96 Billion | -7.24% | 0.15x | $115.08 Million |