Firstec (010820) - Net Assets
Based on the latest financial reports, Firstec (010820) has net assets worth ₩82.47 Billion KRW (≈ $55.89 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 (₩403.06 Billion ≈ $273.15 Million USD) and total liabilities (₩320.60 Billion ≈ $217.26 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 010820 intangible-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₩82.47 Billion |
| % of Total Assets | 20.46% |
| Annual Growth Rate | -0.67% |
| 5-Year Change | 89.99% |
| 10-Year Change | 10.41% |
| Growth Volatility | 26.78 |
Firstec - Net Assets Trend (2003–2025)
This chart illustrates how Firstec's net assets have evolved over time, based on quarterly financial data. See Firstec liquidity coverage in days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Firstec (2003–2025)
The table below shows the annual net assets of Firstec from 2003 to 2025. For live valuation and market cap data, see Firstec (010820) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ₩82.47 Billion ≈ $55.89 Million |
+29.52% |
| 2024-12-31 | ₩63.67 Billion ≈ $43.15 Million |
+2.14% |
| 2023-12-31 | ₩62.34 Billion ≈ $42.24 Million |
+10.01% |
| 2022-12-31 | ₩56.66 Billion ≈ $38.40 Million |
+30.55% |
| 2021-12-31 | ₩43.40 Billion ≈ $29.41 Million |
-2.93% |
| 2020-12-31 | ₩44.71 Billion ≈ $30.30 Million |
+63.92% |
| 2019-12-31 | ₩27.28 Billion ≈ $18.49 Million |
-30.92% |
| 2018-12-31 | ₩39.49 Billion ≈ $26.76 Million |
-51.10% |
| 2017-12-31 | ₩80.74 Billion ≈ $54.72 Million |
+8.11% |
| 2016-12-31 | ₩74.69 Billion ≈ $50.62 Million |
+2.10% |
| 2015-12-31 | ₩73.15 Billion ≈ $49.57 Million |
+3.41% |
| 2014-12-31 | ₩70.74 Billion ≈ $47.94 Million |
+2.45% |
| 2013-12-31 | ₩69.05 Billion ≈ $46.79 Million |
+0.58% |
| 2012-12-31 | ₩68.65 Billion ≈ $46.52 Million |
+0.05% |
| 2011-12-31 | ₩68.61 Billion ≈ $46.50 Million |
-19.50% |
| 2010-12-31 | ₩85.23 Billion ≈ $57.76 Million |
+11.60% |
| 2009-12-31 | ₩76.37 Billion ≈ $51.75 Million |
+55.70% |
| 2008-12-31 | ₩49.05 Billion ≈ $33.24 Million |
-1.26% |
| 2007-12-31 | ₩49.67 Billion ≈ $33.66 Million |
+14.54% |
| 2006-12-31 | ₩43.37 Billion ≈ $29.39 Million |
-38.84% |
| 2005-12-31 | ₩70.90 Billion ≈ $48.05 Million |
+6.84% |
| 2004-12-31 | ₩66.36 Billion ≈ $44.97 Million |
-30.56% |
| 2003-12-31 | ₩95.56 Billion ≈ $64.76 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Firstec'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 2405243054000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₩24.05 Billion | 29.17% |
| Other Components | ₩58.41 Billion | 70.83% |
| Total Equity | ₩82.47 Billion | 100.00% |
Firstec Competitors by Market Cap
The table below lists competitors of Firstec ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Launch One Acquisition Corp. Class A Ordinary shares
NASDAQ:LPAA
|
$249.32 Million |
|
Senao Networks
TWO:3558
|
$249.34 Million |
|
RoadMain T Co Ltd
SHG:603860
|
$249.40 Million |
|
Northern Ocean Ltd
OL:NOL
|
$249.51 Million |
|
Pacific Smiles Group Ltd
AU:PSQ
|
$249.29 Million |
|
Socar Inc.
KO:403550
|
$249.27 Million |
|
BAJEL PROJECTS LTD
NSE:BAJEL
|
$249.21 Million |
|
Soyea Technology Co Ltd
SHE:000909
|
$249.16 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Firstec's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 63,670,295,820 to 82,465,023,540, a change of 18,794,727,720 (29.5%).
- Net income of 14,726,828,520 contributed positively to equity growth.
- New share issuances of 845,657,270 increased equity.
- Other factors increased equity by 3,222,241,930.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₩14.73 Billion | +17.86% |
| Share Issuances | ₩845.66 Million | +1.03% |
| Other Changes | ₩3.22 Billion | +3.91% |
| Total Change | ₩- | 29.52% |
Book Value vs Market Value Analysis
This analysis compares Firstec'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: 4.46x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 4.63x to 4.46x 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 | ₩1634.38 | ₩7570.00 | x |
| 2018-12-31 | ₩847.56 | ₩7570.00 | x |
| 2019-12-31 | ₩585.52 | ₩7570.00 | x |
| 2020-12-31 | ₩933.79 | ₩7570.00 | x |
| 2021-12-31 | ₩906.43 | ₩7570.00 | x |
| 2022-12-31 | ₩1183.31 | ₩7570.00 | x |
| 2023-12-31 | ₩1282.78 | ₩7570.00 | x |
| 2024-12-31 | ₩1310.23 | ₩7570.00 | x |
| 2025-12-31 | ₩1696.99 | ₩7570.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Firstec 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): 17.86%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.99%
- • Asset Turnover: 0.73x
- • Equity Multiplier: 4.89x
- Recent ROE (17.86%) is above the historical average (-0.02%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2003 | 3.47% | 2.58% | 0.69x | 1.95x | ₩-5.51 Billion |
| 2005 | 8.22% | 2.28% | 1.29x | 2.80x | ₩-1.05 Billion |
| 2006 | 6.29% | 0.98% | 1.87x | 3.42x | ₩-997.86 Million |
| 2007 | 2.55% | 0.98% | 0.80x | 3.24x | ₩-2.20 Billion |
| 2008 | 5.17% | 1.00% | 1.35x | 3.81x | ₩-1.51 Billion |
| 2009 | 0.16% | 0.06% | 1.13x | 2.45x | ₩-5.46 Billion |
| 2010 | 10.75% | 4.37% | 1.11x | 2.21x | ₩469.98 Million |
| 2011 | 4.01% | 3.27% | 0.72x | 1.70x | ₩-4.11 Billion |
| 2012 | 3.77% | 2.83% | 0.69x | 1.92x | ₩-4.28 Billion |
| 2013 | 3.44% | 2.18% | 0.74x | 2.14x | ₩-4.53 Billion |
| 2014 | 2.18% | 1.22% | 0.58x | 3.08x | ₩-5.07 Billion |
| 2015 | 3.64% | 1.76% | 0.68x | 3.03x | ₩-4.28 Billion |
| 2016 | -0.73% | -0.33% | 0.75x | 2.95x | ₩-7.36 Billion |
| 2017 | 4.75% | 2.23% | 0.82x | 2.59x | ₩-4.00 Billion |
| 2018 | -90.04% | -27.02% | 0.82x | 4.07x | ₩-39.50 Billion |
| 2019 | -38.44% | -8.30% | 0.69x | 6.68x | ₩-13.21 Billion |
| 2020 | 15.95% | 5.40% | 0.73x | 4.04x | ₩2.66 Billion |
| 2021 | 8.93% | 2.83% | 0.74x | 4.28x | ₩-466.19 Million |
| 2022 | 3.17% | 1.12% | 0.76x | 3.73x | ₩-3.87 Billion |
| 2023 | 7.41% | 2.67% | 0.65x | 4.25x | ₩-1.61 Billion |
| 2024 | 17.15% | 5.27% | 0.59x | 5.50x | ₩4.55 Billion |
| 2025 | 17.86% | 4.99% | 0.73x | 4.89x | ₩6.48 Billion |
Industry Comparison
This section compares Firstec's net assets metrics with peer companies in the Aerospace & Defense industry.
Industry Context
- Industry: Aerospace & Defense
- Average net assets among peers: $2,258,152,065,026
- Average return on equity (ROE) among peers: 4.79%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Firstec (010820) | ₩82.47 Billion | 3.47% | 3.89x | $249.30 Million |
| SNT Dynamics Co Ltd (003570) | $597.45 Billion | 1.40% | 0.39x | $661.37 Million |
| Korea Shipbuilding & Offshore Engineering Co Ltd (009540) | $2.78 Trillion | 0.00% | 2.40x | $20.18 Billion |
| Samsung Heavy Industries (010140) | $6.75 Trillion | -5.75% | 1.12x | $16.03 Billion |
| Hanwha Aerospace Co Ltd (012450) | $644.34 Billion | 3.62% | 2.35x | $34.87 Billion |
| Hanwha Ocean Co., Ltd (042660) | $1.27 Trillion | 20.40% | 1.83x | $25.98 Billion |
| Korea Aerospace Industries (047810) | $1.45 Trillion | 8.15% | 4.35x | $10.04 Billion |
| LIG Nex1 Co Ltd (079550) | $577.08 Billion | 14.39% | 2.04x | $13.09 Billion |
| Hanwha Systems Co Ltd (272210) | $968.44 Billion | 7.53% | 1.49x | $12.18 Billion |
| Hyundai Heavy Industries Co Ltd (329180) | $5.29 Trillion | -6.66% | 2.08x | $48.65 Billion |
About Firstec
FIRSTEC Co., Ltd engages in the design, manufacture, and sale of various products for defense industry worldwide. It offers guided weapon products, including drive, guidance control, launch control, and wiring devices; electric battlefields, cooling systems, and automatic fire extinguishing systems for mobility and firepower systems; avionics, driving device, propulsion/fuel, environmental contro… Read more