Baiksan (035150) - Net Assets
Based on the latest financial reports, Baiksan (035150) has net assets worth ₩260.62 Billion KRW (≈ $176.62 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 (₩446.66 Billion ≈ $302.69 Million USD) and total liabilities (₩186.04 Billion ≈ $126.08 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. Also explore 035150 current and non-current assets for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₩260.62 Billion |
| % of Total Assets | 58.35% |
| Annual Growth Rate | 5.91% |
| 5-Year Change | 77.27% |
| 10-Year Change | 111.78% |
| Growth Volatility | 12.31 |
Baiksan - Net Assets Trend (2001–2025)
This chart illustrates how Baiksan's net assets have evolved over time, based on quarterly financial data. Check Baiksan tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Annual Net Assets for Baiksan (2001–2025)
The table below shows the annual net assets of Baiksan from 2001 to 2025. For live valuation and market cap data, see 035150 stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ₩260.62 Billion ≈ $176.62 Million |
+4.09% |
| 2024-12-31 | ₩250.37 Billion ≈ $169.67 Million |
+20.10% |
| 2023-12-31 | ₩208.46 Billion ≈ $141.27 Million |
+15.71% |
| 2022-12-31 | ₩180.16 Billion ≈ $122.09 Million |
+22.54% |
| 2021-12-31 | ₩147.01 Billion ≈ $99.63 Million |
+20.08% |
| 2020-12-31 | ₩122.43 Billion ≈ $82.97 Million |
-13.92% |
| 2019-12-31 | ₩142.23 Billion ≈ $96.39 Million |
+3.00% |
| 2018-12-31 | ₩138.09 Billion ≈ $93.58 Million |
+10.44% |
| 2017-12-31 | ₩125.04 Billion ≈ $84.74 Million |
+1.61% |
| 2016-12-31 | ₩123.06 Billion ≈ $83.39 Million |
+18.78% |
| 2015-12-31 | ₩103.60 Billion ≈ $70.21 Million |
+12.58% |
| 2014-12-31 | ₩92.03 Billion ≈ $62.37 Million |
-3.58% |
| 2013-12-31 | ₩95.44 Billion ≈ $64.68 Million |
+5.12% |
| 2012-12-31 | ₩90.80 Billion ≈ $61.53 Million |
+8.91% |
| 2011-12-31 | ₩83.37 Billion ≈ $56.50 Million |
+28.45% |
| 2010-12-31 | ₩64.90 Billion ≈ $43.98 Million |
+12.39% |
| 2009-12-31 | ₩57.75 Billion ≈ $39.14 Million |
+15.63% |
| 2008-12-31 | ₩49.94 Billion ≈ $33.85 Million |
+1.08% |
| 2007-12-31 | ₩49.41 Billion ≈ $33.49 Million |
-13.74% |
| 2006-12-31 | ₩57.28 Billion ≈ $38.82 Million |
-10.56% |
| 2005-12-31 | ₩64.05 Billion ≈ $43.40 Million |
+2.13% |
| 2004-12-31 | ₩62.71 Billion ≈ $42.50 Million |
-21.12% |
| 2003-12-31 | ₩79.50 Billion ≈ $53.88 Million |
+12.77% |
| 2002-12-31 | ₩70.50 Billion ≈ $47.78 Million |
+7.24% |
| 2001-12-31 | ₩65.74 Billion ≈ $44.55 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Baiksan'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 21202834699000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₩212.03 Billion | 81.98% |
| Other Components | ₩46.59 Billion | 18.02% |
| Total Equity | ₩258.62 Billion | 100.00% |
Baiksan Competitors by Market Cap
The table below lists competitors of Baiksan ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Military Insurance Corp
VN:MIG
|
$136.61 Million |
|
SR Bancorp, Inc. Common stock
NASDAQ:SRBK
|
$136.63 Million |
|
Tenaya Therapeutics Inc
NASDAQ:TNYA
|
$136.66 Million |
|
Journey Medical Corp
NASDAQ:DERM
|
$136.73 Million |
|
Antony Waste Handling Cell Limited
NSE:AWHCL
|
$136.59 Million |
|
Rentokil Initial PLC
LSE:RTO
|
$136.58 Million |
|
Global Green Chemicals Public Company Limited
BK:GGC
|
$136.56 Million |
|
Thessaloniki Water Supply & Sewerage Co S.A
AT:EYAPS
|
$136.49 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Baiksan's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 248,065,683,090 to 258,622,375,150, a change of 10,556,692,060 (4.3%).
- Net income of 33,499,502,120 contributed positively to equity growth.
- Dividend payments of 7,398,940,950 reduced retained earnings.
- Share repurchases of 12,326,841,580 reduced equity.
- New share issuances of 123,160,000 increased equity.
- Other factors decreased equity by 3,340,187,530.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₩33.50 Billion | +12.95% |
| Dividends Paid | ₩7.40 Billion | -2.86% |
| Share Repurchases | ₩12.33 Billion | -4.77% |
| Share Issuances | ₩123.16 Million | +0.05% |
| Other Changes | ₩-3.34 Billion | -1.29% |
| Total Change | ₩- | 4.26% |
Book Value vs Market Value Analysis
This analysis compares Baiksan'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: 0.78x
- 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 1.88x to 0.78x 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 | ₩5285.51 | ₩9940.00 | x |
| 2018-12-31 | ₩5788.78 | ₩9940.00 | x |
| 2019-12-31 | ₩5987.48 | ₩9940.00 | x |
| 2020-12-31 | ₩5125.53 | ₩9940.00 | x |
| 2021-12-31 | ₩6016.23 | ₩9940.00 | x |
| 2022-12-31 | ₩7626.06 | ₩9940.00 | x |
| 2023-12-31 | ₩9158.83 | ₩9940.00 | x |
| 2024-12-31 | ₩11673.68 | ₩9940.00 | x |
| 2025-12-31 | ₩12738.27 | ₩9940.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Baiksan 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): 12.95%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.63%
- • Asset Turnover: 1.13x
- • Equity Multiplier: 1.73x
- Recent ROE (12.95%) is above the historical average (9.20%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2001 | 2.45% | 1.64% | 0.88x | 1.69x | ₩-4.93 Billion |
| 2003 | 0.48% | 0.27% | 0.84x | 2.07x | ₩-6.16 Billion |
| 2004 | 0.73% | 0.38% | 0.95x | 2.03x | ₩-5.36 Billion |
| 2005 | 7.32% | 2.83% | 1.37x | 1.88x | ₩-1.63 Billion |
| 2006 | 4.43% | 1.65% | 1.37x | 1.97x | ₩-3.06 Billion |
| 2009 | 12.02% | 5.62% | 0.83x | 2.58x | ₩1.16 Billion |
| 2010 | 11.01% | 4.76% | 0.95x | 2.44x | ₩657.35 Million |
| 2011 | 6.74% | 3.15% | 1.16x | 1.84x | ₩-2.72 Billion |
| 2012 | 12.90% | 6.32% | 1.17x | 1.75x | ₩2.63 Billion |
| 2013 | 8.10% | 4.36% | 1.16x | 1.60x | ₩-1.81 Billion |
| 2014 | -2.79% | -1.51% | 1.04x | 1.77x | ₩-11.77 Billion |
| 2015 | 14.90% | 8.97% | 1.01x | 1.65x | ₩5.08 Billion |
| 2016 | 17.90% | 10.89% | 1.08x | 1.53x | ₩9.65 Billion |
| 2017 | 7.19% | 4.25% | 1.10x | 1.53x | ₩-3.52 Billion |
| 2018 | 11.15% | 4.73% | 1.10x | 2.15x | ₩1.58 Billion |
| 2019 | 4.82% | 1.45% | 1.42x | 2.33x | ₩-7.34 Billion |
| 2020 | -12.97% | -4.11% | 1.32x | 2.40x | ₩-27.86 Billion |
| 2021 | 13.17% | 5.17% | 1.12x | 2.27x | ₩4.61 Billion |
| 2022 | 25.37% | 9.52% | 1.40x | 1.90x | ₩27.44 Billion |
| 2023 | 20.03% | 9.88% | 1.19x | 1.71x | ₩20.67 Billion |
| 2024 | 24.48% | 12.22% | 1.09x | 1.85x | ₩35.93 Billion |
| 2025 | 12.95% | 6.63% | 1.13x | 1.73x | ₩7.64 Billion |
Industry Comparison
This section compares Baiksan's net assets metrics with peer companies in the Footwear & Accessories industry.
Industry Context
- Industry: Footwear & Accessories
- Average net assets among peers: $260,806,811,781
- Average return on equity (ROE) among peers: 12.23%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Baiksan (035150) | ₩260.62 Billion | 2.45% | 0.71x | $136.59 Million |
| Samyang Tongsang Co. Ltd. (002170) | $434.15 Billion | 2.54% | 0.05x | $100.37 Million |
| Hwaseung Industries Co Ltd (006060) | $138.79 Billion | 4.77% | 2.43x | $80.02 Million |
| Uni Chem (011330) | $-11.74 Billion | 0.00% | 0.00x | $244.63 Million |
| InBioGen Co Ltd (101140) | $178.02 Billion | 52.87% | 0.54x | $34.78 Million |
| Gumho NT Co Ltd (130500) | $28.61 Billion | 7.39% | 0.50x | $17.23 Million |
| JS Corp (194370) | $507.41 Billion | 19.20% | 2.61x | $222.35 Million |
| Hwaseung Enterprise Co Ltd (241590) | $550.42 Billion | -1.18% | 1.42x | $126.26 Million |
About Baiksan
BAIKSAN Co,. Ltd engages in the production, manufacture, and sale of synthetic leather, resin, and non-woven fabric in South Korea. Its products are used in shoes, clothing, bags, sporting and electronic product cases, furniture, automobile interior materials, and other goods. The company was formerly known as Baiksan Hwasugn Co., Ltd. and changed its name to BAIKSAN Co,. Ltd in April 1998. BAIKS… Read more