Mi Chang Oil
Michang Oil Ind. Co., Ltd. engages in the petrochemical business in South Korea. It offers automotive lubricants, including motor, gasoline engine, diesel engine, gear, and automatic transmission oils, as well as other application oils; and transformer oils. The company also provides industrial lubricants, such as hydraulic, gear, turbine, and heat transfer oils; and rubber process oils comprisin… Read more
Mi Chang Oil (003650) - Net Assets
Latest net assets as of September 2025: ₩458.03 Billion KRW
Based on the latest financial reports, Mi Chang Oil (003650) has net assets worth ₩458.03 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 (₩512.60 Billion) and total liabilities (₩54.57 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 | ₩458.03 Billion |
| % of Total Assets | 89.35% |
| Annual Growth Rate | 9.03% |
| 5-Year Change | 48.85% |
| 10-Year Change | 91.07% |
| Growth Volatility | 4.62 |
Mi Chang Oil - Net Assets Trend (2009–2024)
This chart illustrates how Mi Chang Oil's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Mi Chang Oil (2009–2024)
The table below shows the annual net assets of Mi Chang Oil from 2009 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ₩412.51 Billion | +13.06% |
| 2023-12-31 | ₩364.86 Billion | +13.61% |
| 2022-12-31 | ₩321.14 Billion | +6.35% |
| 2021-12-31 | ₩301.98 Billion | +8.97% |
| 2020-12-31 | ₩277.13 Billion | +7.44% |
| 2019-12-31 | ₩257.95 Billion | +3.16% |
| 2018-12-31 | ₩250.06 Billion | +0.86% |
| 2017-12-31 | ₩247.93 Billion | +1.67% |
| 2016-12-31 | ₩243.84 Billion | +12.95% |
| 2015-12-31 | ₩215.89 Billion | +11.12% |
| 2014-12-31 | ₩194.29 Billion | +6.92% |
| 2013-12-31 | ₩181.70 Billion | +8.18% |
| 2012-12-31 | ₩167.97 Billion | +13.28% |
| 2011-12-31 | ₩148.28 Billion | +12.25% |
| 2010-12-31 | ₩132.09 Billion | +17.09% |
| 2009-12-31 | ₩112.81 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Mi Chang Oil'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 353.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₩407.80 Billion | 98.86% |
| Other Components | ₩4.71 Billion | 1.14% |
| Total Equity | ₩412.51 Billion | 100.00% |
Mi Chang Oil Competitors by Market Cap
The table below lists competitors of Mi Chang Oil ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Onxeo SA
F:C4X
|
$49.80 Million |
|
RELATECH S.P.A.
F:8EP
|
$49.81 Million |
|
Franklin Street Properties Corp
NYSE MKT:FSP
|
$49.84 Million |
|
Socar Inc.
KO:403550
|
$49.84 Million |
|
Fynske Bank A/S
CO:FYNBK
|
$49.79 Million |
|
Avantium Holding BV
AS:AVTX
|
$49.78 Million |
|
AGF A/S NAM.
F:5IN
|
$49.78 Million |
|
EverFocus Electronics Corp
TW:5484
|
$49.77 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Mi Chang Oil's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 364,859,745,170 to 412,505,084,000, a change of 47,645,338,830 (13.1%).
- Net income of 52,625,419,130 contributed positively to equity growth.
- Dividend payments of 4,236,341,200 reduced retained earnings.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₩52.63 Billion | +12.76% |
| Dividends Paid | ₩4.24 Billion | -1.03% |
| Other Changes | ₩-743.74 Million | -0.18% |
| Total Change | ₩- | 13.06% |
Book Value vs Market Value Analysis
This analysis compares Mi Chang Oil'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: 0.42x
- 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 0.76x to 0.42x 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 | ₩149413.06 | ₩114100.00 | x |
| 2018-12-31 | ₩157694.98 | ₩114100.00 | x |
| 2019-12-31 | ₩168402.72 | ₩114100.00 | x |
| 2020-12-31 | ₩183166.42 | ₩114100.00 | x |
| 2021-12-31 | ₩199594.06 | ₩114100.00 | x |
| 2022-12-31 | ₩212259.75 | ₩114100.00 | x |
| 2023-12-31 | ₩241153.21 | ₩114100.00 | x |
| 2024-12-31 | ₩272644.29 | ₩114100.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Mi Chang Oil 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): 12.76%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 12.18%
- • Asset Turnover: 0.88x
- • Equity Multiplier: 1.19x
- Recent ROE (12.76%) is above the historical average (11.07%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2009 | 22.40% | 8.92% | 1.71x | 1.47x | ₩13.99 Billion |
| 2010 | 16.44% | 6.40% | 1.86x | 1.38x | ₩8.50 Billion |
| 2011 | 14.10% | 5.26% | 2.05x | 1.31x | ₩6.09 Billion |
| 2012 | 14.69% | 6.01% | 2.02x | 1.21x | ₩7.88 Billion |
| 2013 | 9.60% | 4.71% | 1.79x | 1.14x | ₩-730.03 Million |
| 2014 | 8.23% | 4.49% | 1.65x | 1.11x | ₩-3.44 Billion |
| 2015 | 11.63% | 8.12% | 1.23x | 1.17x | ₩3.52 Billion |
| 2016 | 12.60% | 10.95% | 1.00x | 1.15x | ₩6.35 Billion |
| 2017 | 5.03% | 3.98% | 1.12x | 1.13x | ₩-12.32 Billion |
| 2018 | 4.29% | 3.39% | 1.12x | 1.13x | ₩-14.28 Billion |
| 2019 | 6.87% | 5.48% | 1.10x | 1.15x | ₩-8.07 Billion |
| 2020 | 7.10% | 7.09% | 0.89x | 1.13x | ₩-8.03 Billion |
| 2021 | 10.97% | 8.16% | 1.17x | 1.15x | ₩2.94 Billion |
| 2022 | 7.28% | 5.58% | 1.17x | 1.11x | ₩-8.73 Billion |
| 2023 | 13.06% | 11.64% | 0.98x | 1.14x | ₩11.16 Billion |
| 2024 | 12.76% | 12.18% | 0.88x | 1.19x | ₩11.37 Billion |
Industry Comparison
This section compares Mi Chang Oil's net assets metrics with peer companies in the Oil & Gas Refining & Marketing industry.
Industry Context
- Industry: Oil & Gas Refining & Marketing
- Average net assets among peers: $6,046,650,746,207
- Average return on equity (ROE) among peers: 4.73%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Mi Chang Oil (003650) | ₩458.03 Billion | 22.40% | 0.12x | $49.79 Million |
| Hankook Shell Oil (002960) | $97.92 Billion | 21.47% | 0.44x | $219.64 Million |
| SK Discovery Co Ltd (006125) | $2.32 Trillion | 7.76% | 1.15x | $250.89 Million |
| S-Oil Corp (010950) | $1.35 Trillion | 0.31% | 3.04x | $3.25 Billion |
| The LEADCORP Inc (012700) | $48.25 Billion | 0.00% | 0.63x | $30.23 Million |
| E1 Corporation (017940) | $1.20 Trillion | -3.59% | 1.99x | $179.61 Million |
| Sk Gas (018670) | $1.71 Trillion | 9.95% | 1.38x | $354.68 Million |
| SK Innovation (096770) | $17.05 Trillion | 4.72% | 0.84x | $5.21 Billion |
| SK Innovation Co Ltd Pref (096775) | $30.02 Trillion | 0.85% | 1.69x | $3.30 Billion |
| Daesung Ind (128820) | $620.23 Billion | 1.04% | 1.72x | $103.47 Million |