Meritz Financi (138040) - Net Assets

Latest as of September 2025: ₩11.40 Trillion KRW ≈ $7.73 Billion USD

Based on the latest financial reports, Meritz Financi (138040) has net assets worth ₩11.40 Trillion KRW (≈ $7.73 Billion USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₩132.69 Trillion ≈ $89.92 Billion USD) and total liabilities (₩121.29 Trillion ≈ $82.19 Billion 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 138040 asset resilience ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	₩11.40 Trillion
% of Total Assets	8.59%
Annual Growth Rate	16.1%
5-Year Change	58.93%
10-Year Change	201.16%
Growth Volatility	19.14

Meritz Financi - Net Assets Trend (2011–2024)

This chart illustrates how Meritz Financi's net assets have evolved over time, based on quarterly financial data. Also explore 138040 asset base for the complete picture of this company's asset base.

Annual Net Assets for Meritz Financi (2011–2024)

The table below shows the annual net assets of Meritz Financi from 2011 to 2024. For live valuation and market cap data, see Meritz Financi market cap and net worth.

Year	Net Assets	Change
2024-12-31	₩10.93 Trillion ≈ $7.41 Billion	+8.25%
2023-12-31	₩10.10 Trillion ≈ $6.84 Billion	+69.53%
2022-12-31	₩5.96 Trillion ≈ $4.04 Billion	-13.47%
2021-12-31	₩6.88 Trillion ≈ $4.66 Billion	+0.09%
2020-12-31	₩6.88 Trillion ≈ $4.66 Billion	+15.35%
2019-12-31	₩5.96 Trillion ≈ $4.04 Billion	+9.30%
2018-12-31	₩5.45 Trillion ≈ $3.70 Billion	+12.89%
2017-12-31	₩4.83 Trillion ≈ $3.27 Billion	+21.20%
2016-12-31	₩3.99 Trillion ≈ $2.70 Billion	+9.84%
2015-12-31	₩3.63 Trillion ≈ $2.46 Billion	+20.99%
2014-12-31	₩3.00 Trillion ≈ $2.03 Billion	+39.27%
2013-12-31	₩2.15 Trillion ≈ $1.46 Billion	+22.42%
2012-12-31	₩1.76 Trillion ≈ $1.19 Billion	+12.15%
2011-12-31	₩1.57 Trillion ≈ $1.06 Billion	--

Equity Component Analysis

This analysis shows how different components contribute to Meritz Financi'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 2966.5% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Retained Earnings	₩8.79 Trillion	87.08%
Other Components	₩1.30 Trillion	12.92%
Total Equity	₩10.09 Trillion	100.00%

Meritz Financi Competitors by Market Cap

The table below lists competitors of Meritz Financi ranked by their market capitalization.

Company	Market Cap
BB Seguridade Participacoes SA SA:BBSE3	$12.90 Billion
Tradeweb Markets Inc NASDAQ:TW	$12.92 Billion
IPSEN SA SP.ADR 1/4/ EO 1 F:I7G0	$12.92 Billion
Shenzhen Sunway Communication SHE:300136	$12.93 Billion
URW (STAPL.SHS CDI)EO-05 F:UBLB	$12.89 Billion
IREN Ltd NASDAQ:IREN	$12.89 Billion
Eurobank Ergasias Services and Holdings S.A. AT:EUROB	$12.88 Billion
Aptiv PLC NYSE:APTV	$12.87 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Meritz Financi's equity between the two most recent reporting periods.

Equity Growth Insights

From 2023 to 2024, total equity changed from 9,581,907,410,670 to 10,094,442,922,760, a change of 512,535,512,090 (5.3%).
Net income of 2,306,096,480,020 contributed positively to equity growth.
Dividend payments of 510,244,842,630 reduced retained earnings.
Share repurchases of 858,300,688,300 reduced equity.
Other factors decreased equity by 425,015,437,000.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	₩2.31 Trillion	+22.85%
Dividends Paid	₩510.24 Billion	-5.05%
Share Repurchases	₩858.30 Billion	-8.5%
Other Changes	₩-425.02 Billion	-4.21%
Total Change	₩-	5.35%

Book Value vs Market Value Analysis

This analysis compares Meritz Financi'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: 1.99x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has decreased from 7.50x to 1.99x 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	₩14894.14	₩111700.00	x
2018-12-31	₩17944.49	₩111700.00	x
2019-12-31	₩20398.63	₩111700.00	x
2020-12-31	₩25445.05	₩111700.00	x
2021-12-31	₩29447.06	₩111700.00	x
2022-12-31	₩26965.68	₩111700.00	x
2023-12-31	₩50456.85	₩111700.00	x
2024-12-31	₩56152.90	₩111700.00	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Meritz Financi 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): 22.85%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 54.45%
• Asset Turnover: 0.04x
• Equity Multiplier: 11.45x
Recent ROE (22.85%) is above the historical average (18.31%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2011	33.88%	38.51%	0.08x	11.53x	₩201.82 Billion
2012	5.82%	5.89%	0.08x	11.88x	₩-40.15 Billion
2013	7.75%	1.54%	0.22x	22.42x	₩-21.15 Billion
2014	8.53%	7.64%	0.06x	19.63x	₩-20.06 Billion
2015	13.09%	2.56%	0.25x	20.57x	₩48.12 Billion
2016	29.68%	27.68%	0.05x	21.35x	₩346.08 Billion
2017	17.99%	15.46%	0.06x	20.44x	₩164.34 Billion
2018	12.70%	12.81%	0.05x	21.11x	₩66.83 Billion
2019	14.49%	12.77%	0.05x	22.47x	₩123.52 Billion
2020	14.62%	13.91%	0.05x	20.77x	₩154.79 Billion
2021	21.21%	18.58%	0.05x	22.05x	₩417.13 Billion
2022	32.39%	22.55%	0.05x	28.33x	₩733.04 Billion
2023	21.31%	49.79%	0.04x	10.67x	₩1.08 Trillion
2024	22.85%	54.45%	0.04x	11.45x	₩1.30 Trillion

Industry Comparison

This section compares Meritz Financi's net assets metrics with peer companies in the Capital Markets industry.

Industry Context

Industry: Capital Markets
Average net assets among peers: $537,306,056,151
Average return on equity (ROE) among peers: 4.69%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Meritz Financi (138040)	₩11.40 Trillion	33.88%	10.64x	$12.89 Billion
Eugene Inv&Sec (001200)	$975.64 Billion	1.61%	7.28x	$347.91 Million
Bookook Sec (001270)	$397.13 Billion	4.43%	0.86x	$293.81 Million
Bookook Securities Co Ltd (001275)	$757.88 Billion	7.56%	1.34x	$72.71 Million
Sangsangin Investment & Securities Co Ltd (001290)	$172.69 Billion	4.42%	0.77x	$93.98 Million
Hyundai Motor Securities Co. Ltd. (001500)	$886.92 Billion	5.70%	6.54x	$459.68 Million
Shinyoung Securities Co. Ltd. (001720)	$468.23 Billion	5.58%	1.12x	$1.03 Billion
Hanyang Sec (001750)	$259.77 Billion	2.42%	1.55x	$247.13 Million
Hanyang Securities Co Ltd (001755)	$514.16 Billion	7.55%	2.37x	$255.33 Million
Yuhwa Sec (003460)	$429.40 Billion	4.18%	0.81x	$110.23 Million
Yuhwa Securities Co Ltd (003465)	$511.23 Billion	3.48%	0.51x	$34.18 Million

About Meritz Financi

KO:138040 Korea Capital Markets

Market Cap

$12.89 Billion

₩19.03 Trillion KRW

Market Cap Rank

#1823 Global

#45 in Korea

Share Price

₩111700.00

Change (1 day)

-1.93%

52-Week Range

₩101500.00 - ₩146200.00

All Time High

₩146200.00