Air Busan Co Ltd
Air Busan Co., Ltd. provides passenger airline services. It provides domestic and international transportation services. The company also offers cargo transportation services; product brokerage; and sales of medical devices, and health functional food items. Air Busan Co., Ltd. was founded in 2007 and is headquartered in Busan, South Korea.
Air Busan Co Ltd (298690) - Net Assets
Latest net assets as of September 2025: ₩195.11 Billion KRW
Based on the latest financial reports, Air Busan Co Ltd (298690) has net assets worth ₩195.11 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 (₩1.39 Trillion) and total liabilities (₩1.20 Trillion). 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 | ₩195.11 Billion |
| % of Total Assets | 14.0% |
| Annual Growth Rate | 4.55% |
| 5-Year Change | 26.15% |
| 10-Year Change | N/A |
| Growth Volatility | 22.86 |
Air Busan Co Ltd - Net Assets Trend (2015–2024)
This chart illustrates how Air Busan Co Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Air Busan Co Ltd (2015–2024)
The table below shows the annual net assets of Air Busan Co Ltd from 2015 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ₩139.10 Billion | -25.54% |
| 2023-12-31 | ₩186.81 Billion | +47.49% |
| 2022-12-31 | ₩126.66 Billion | -2.97% |
| 2021-12-31 | ₩130.53 Billion | +18.38% |
| 2020-12-31 | ₩110.27 Billion | +2.00% |
| 2019-12-31 | ₩108.11 Billion | -29.01% |
| 2018-12-31 | ₩152.30 Billion | +24.66% |
| 2017-12-31 | ₩122.17 Billion | +18.28% |
| 2016-12-31 | ₩103.29 Billion | +10.85% |
| 2015-12-31 | ₩93.18 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Air Busan Co Ltd'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 decreased by 749.1% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | ₩419.39 Billion | 301.50% |
| Total Equity | ₩139.10 Billion | 100.00% |
Air Busan Co Ltd Competitors by Market Cap
The table below lists competitors of Air Busan Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Coheris SA
PA:COH
|
$20.18 Million |
|
STX Green Logis Ltd
KO:465770
|
$20.18 Million |
|
BANK OF JIUJIANG H YC1
F:BJ8
|
$20.18 Million |
|
Valuence Merger Corp. I
OTCMKTS:VMCUF
|
$20.19 Million |
|
Castor Maritime Inc
NASDAQ:CTRM
|
$20.17 Million |
|
Odyssey Gold Ltd
AU:ODY
|
$20.17 Million |
|
Blue Gold Limited Class A Ordinary Shares
NASDAQ:BGL
|
$20.16 Million |
|
Best Agrolife Limited
NSE:BESTAGRO
|
$20.16 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Air Busan Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 186,813,445,070 to 139,102,615,030, a change of -47,710,830,040 (-25.5%).
- Net income of 2,418,255,490 contributed positively to equity growth.
- Dividend payments of 8,401,038,720 reduced retained earnings.
- Other factors decreased equity by 41,728,046,810.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₩2.42 Billion | +1.74% |
| Dividends Paid | ₩8.40 Billion | -6.04% |
| Other Changes | ₩-41.73 Billion | -30.0% |
| Total Change | ₩- | -25.54% |
Book Value vs Market Value Analysis
This analysis compares Air Busan Co Ltd'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: 1.56x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 0.86x to 1.56x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | ₩2166.16 | ₩1863.00 | x |
| 2018-12-31 | ₩2713.42 | ₩1863.00 | x |
| 2019-12-31 | ₩1926.14 | ₩1863.00 | x |
| 2020-12-31 | ₩1345.34 | ₩1863.00 | x |
| 2021-12-31 | ₩1703.81 | ₩1863.00 | x |
| 2022-12-31 | ₩1086.44 | ₩1863.00 | x |
| 2023-12-31 | ₩1602.42 | ₩1863.00 | x |
| 2024-12-31 | ₩1193.17 | ₩1863.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Air Busan Co Ltd 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): 1.74%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.24%
- • Asset Turnover: 0.71x
- • Equity Multiplier: 10.19x
- Recent ROE (1.74%) is above the historical average (-35.39%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 30.85% | 7.61% | 2.19x | 1.85x | ₩19.43 Billion |
| 2016 | 27.61% | 6.44% | 2.14x | 2.00x | ₩18.19 Billion |
| 2017 | 23.30% | 5.07% | 2.09x | 2.20x | ₩16.25 Billion |
| 2018 | 13.33% | 3.11% | 2.16x | 1.99x | ₩5.06 Billion |
| 2019 | -67.44% | -11.51% | 0.64x | 9.12x | ₩-83.72 Billion |
| 2020 | -116.51% | -67.65% | 0.18x | 9.38x | ₩-139.50 Billion |
| 2021 | -203.75% | -150.68% | 0.17x | 7.74x | ₩-279.01 Billion |
| 2022 | -118.74% | -37.14% | 0.33x | 9.69x | ₩-163.07 Billion |
| 2023 | 55.75% | 11.70% | 0.66x | 7.27x | ₩85.46 Billion |
| 2024 | 1.74% | 0.24% | 0.71x | 10.19x | ₩-11.49 Billion |
Industry Comparison
This section compares Air Busan Co Ltd's net assets metrics with peer companies in the Airlines industry.
Industry Context
- Industry: Airlines
- Average net assets among peers: $984,117,874,230
- Average return on equity (ROE) among peers: -3.11%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Air Busan Co Ltd (298690) | ₩195.11 Billion | 30.85% | 6.14x | $20.17 Million |
| Korean Air Lines Co (003490) | $3.31 Trillion | -6.39% | 6.61x | $4.48 Billion |
| Asiana Airline (020560) | $810.35 Billion | 14.06% | 15.06x | $247.32 Million |
| Jeju Air Co Ltd (089590) | $306.62 Billion | -56.70% | 4.43x | $129.67 Million |
| T'way Air Co Ltd (091810) | $225.71 Billion | 16.78% | 0.91x | $55.09 Million |
| Jin Air Co Ltd (272450) | $266.19 Billion | 16.71% | 0.95x | $50.72 Million |