Incheon City G
Incheon City Gas Co., Ltd. supplies city gas in South Korea. It offers city gas primarily for heating, cooking, industrial processes, natural gas vehicle fueling, and as a fuel source for hydrogen fuel cell power generation and combined heat and power facilities. The company also engages in the rental of investment properties and receives rental income, and supplies electricity. The company was f… Read more
Incheon City G (034590) - Net Assets
Latest net assets as of September 2025: ₩228.57 Billion KRW
Based on the latest financial reports, Incheon City G (034590) has net assets worth ₩228.57 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 (₩432.07 Billion) and total liabilities (₩203.50 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 | ₩228.57 Billion |
| % of Total Assets | 52.9% |
| Annual Growth Rate | 5.02% |
| 5-Year Change | 16.85% |
| 10-Year Change | 40.39% |
| Growth Volatility | 4.75 |
Incheon City G - Net Assets Trend (2008–2024)
This chart illustrates how Incheon City G's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Incheon City G (2008–2024)
The table below shows the annual net assets of Incheon City G from 2008 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ₩223.97 Billion | +5.87% |
| 2023-12-31 | ₩211.56 Billion | +5.78% |
| 2022-12-31 | ₩200.00 Billion | +4.49% |
| 2021-12-31 | ₩191.40 Billion | -0.14% |
| 2020-12-31 | ₩191.67 Billion | +3.63% |
| 2019-12-31 | ₩184.97 Billion | +2.73% |
| 2018-12-31 | ₩180.06 Billion | +5.28% |
| 2017-12-31 | ₩171.03 Billion | +5.04% |
| 2016-12-31 | ₩162.82 Billion | +2.06% |
| 2015-12-31 | ₩159.54 Billion | +1.96% |
| 2014-12-31 | ₩156.47 Billion | +12.83% |
| 2013-12-31 | ₩138.68 Billion | +4.69% |
| 2012-12-31 | ₩132.46 Billion | +3.20% |
| 2011-12-31 | ₩128.36 Billion | +3.83% |
| 2010-12-31 | ₩123.62 Billion | +19.99% |
| 2009-12-31 | ₩103.03 Billion | +0.79% |
| 2008-12-31 | ₩102.23 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Incheon City G'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 224.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₩181.03 Billion | 80.83% |
| Other Components | ₩42.94 Billion | 19.17% |
| Total Equity | ₩223.97 Billion | 100.00% |
Incheon City G Competitors by Market Cap
The table below lists competitors of Incheon City G ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Everbright Digital Holding Limited Ordinary Shares
NASDAQ:EDHL
|
$20.00 Million |
|
Lantern Pharma Inc
NASDAQ:LTRN
|
$20.01 Million |
|
Faze Three Limited
NSE:FAZE3Q
|
$20.02 Million |
|
Cibl Inc.
PINK:CIBY
|
$20.02 Million |
|
Oriental Interest Bhd
KLSE:5827
|
$19.99 Million |
|
Hexza Corporation Bhd
KLSE:3298
|
$19.98 Million |
|
RaemongRaein Co. Ltd.
KQ:200350
|
$19.98 Million |
|
Gratitude Infinite Public Company Limited
BK:GIFT
|
$19.97 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Incheon City G's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 211,556,300,150 to 223,967,087,870, a change of 12,410,787,720 (5.9%).
- Net income of 19,271,621,610 contributed positively to equity growth.
- Dividend payments of 5,152,498,750 reduced retained earnings.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₩19.27 Billion | +8.6% |
| Dividends Paid | ₩5.15 Billion | -2.3% |
| Other Changes | ₩-1.71 Billion | -0.76% |
| Total Change | ₩- | 5.87% |
Book Value vs Market Value Analysis
This analysis compares Incheon City G'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: 0.50x
- 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 0.65x to 0.50x 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 | ₩41492.09 | ₩26900.00 | x |
| 2018-12-31 | ₩43681.75 | ₩26900.00 | x |
| 2019-12-31 | ₩44872.88 | ₩26900.00 | x |
| 2020-12-31 | ₩46499.61 | ₩26900.00 | x |
| 2021-12-31 | ₩46433.30 | ₩26900.00 | x |
| 2022-12-31 | ₩48520.07 | ₩26900.00 | x |
| 2023-12-31 | ₩51323.71 | ₩26900.00 | x |
| 2024-12-31 | ₩54334.58 | ₩26900.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Incheon City G 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): 8.60%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 2.04%
- • Asset Turnover: 2.08x
- • Equity Multiplier: 2.03x
- Recent ROE (8.60%) is above the historical average (7.61%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2008 | 10.47% | 2.24% | 2.36x | 1.98x | ₩478.11 Million |
| 2009 | 7.17% | 1.47% | 2.22x | 2.19x | ₩-2.92 Billion |
| 2010 | 10.06% | 2.14% | 2.03x | 2.31x | ₩76.60 Million |
| 2011 | 8.68% | 1.77% | 2.00x | 2.44x | ₩-1.69 Billion |
| 2012 | 7.23% | 1.33% | 1.97x | 2.77x | ₩-3.67 Billion |
| 2013 | 7.42% | 1.34% | 2.16x | 2.56x | ₩-3.58 Billion |
| 2014 | 14.97% | 2.93% | 2.11x | 2.42x | ₩7.77 Billion |
| 2015 | 4.49% | 1.17% | 1.83x | 2.09x | ₩-8.79 Billion |
| 2016 | 5.28% | 1.67% | 1.43x | 2.21x | ₩-7.69 Billion |
| 2017 | 8.03% | 2.55% | 1.38x | 2.28x | ₩-3.37 Billion |
| 2018 | 8.95% | 2.76% | 1.68x | 1.93x | ₩-1.88 Billion |
| 2019 | 5.79% | 1.87% | 1.57x | 1.98x | ₩-7.79 Billion |
| 2020 | 5.94% | 2.26% | 1.48x | 1.77x | ₩-7.78 Billion |
| 2021 | 1.94% | 0.74% | 1.40x | 1.88x | ₩-15.43 Billion |
| 2022 | 6.09% | 1.67% | 1.72x | 2.12x | ₩-7.82 Billion |
| 2023 | 8.28% | 2.24% | 1.76x | 2.10x | ₩-3.63 Billion |
| 2024 | 8.60% | 2.04% | 2.08x | 2.03x | ₩-3.13 Billion |
Industry Comparison
This section compares Incheon City G's net assets metrics with peer companies in the Utilities - Regulated Gas industry.
Industry Context
- Industry: Utilities - Regulated Gas
- Average net assets among peers: $466,030,310,264
- Average return on equity (ROE) among peers: 4.76%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Incheon City G (034590) | ₩228.57 Billion | 10.47% | 0.89x | $19.99 Million |
| Samchully (004690) | $1.14 Trillion | 2.92% | 1.14x | $178.51 Million |
| Taekyung Chem (006890) | $97.46 Billion | 1.68% | 0.14x | $26.75 Million |
| Kyungdong Gas (012320) | $482.49 Billion | 4.49% | 0.28x | $49.50 Million |
| Yesco Holdings Co. Ltd (015360) | $608.99 Billion | 3.23% | 1.54x | $60.49 Million |
| Daesung Holdin (016710) | $129.56 Billion | 11.23% | 1.39x | $26.28 Million |
| Seoul City Gas (017390) | $916.55 Billion | 3.96% | 0.69x | $60.10 Million |
| GSE Co. Ltd (053050) | $94.39 Billion | 3.77% | 1.53x | $31.10 Million |
| Daesung Energy (117580) | $301.99 Billion | 4.27% | 1.17x | $50.56 Million |
| Kyungdong City Gas Co Ltd (267290) | $420.80 Billion | 7.27% | 1.26x | $43.05 Million |