GSE Co. Ltd
GSE Co., Ltd., together with its subsidiaries, supplies city gas and related services in South Korea. It also operates a CNG vehicle charging station. The company was formerly known as Shina Citygas. The company was founded in 1989 and is headquartered in Sacheon-si, South Korea.
GSE Co. Ltd (053050) - Net Assets
Latest net assets as of September 2025: ₩97.28 Billion KRW
Based on the latest financial reports, GSE Co. Ltd (053050) has net assets worth ₩97.28 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 (₩210.37 Billion) and total liabilities (₩113.08 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 | ₩97.28 Billion |
| % of Total Assets | 46.24% |
| Annual Growth Rate | 8.04% |
| 5-Year Change | 30.66% |
| 10-Year Change | 85.74% |
| Growth Volatility | 14.79 |
GSE Co. Ltd - Net Assets Trend (2008–2024)
This chart illustrates how GSE 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 GSE Co. Ltd (2008–2024)
The table below shows the annual net assets of GSE Co. Ltd from 2008 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ₩94.39 Billion | +1.93% |
| 2023-12-31 | ₩92.61 Billion | +4.50% |
| 2022-12-31 | ₩88.62 Billion | +6.47% |
| 2021-12-31 | ₩83.23 Billion | +15.21% |
| 2020-12-31 | ₩72.24 Billion | +4.50% |
| 2019-12-31 | ₩69.13 Billion | +4.17% |
| 2018-12-31 | ₩66.37 Billion | +5.87% |
| 2017-12-31 | ₩62.69 Billion | +13.89% |
| 2016-12-31 | ₩55.04 Billion | +8.31% |
| 2015-12-31 | ₩50.82 Billion | +6.08% |
| 2014-12-31 | ₩47.91 Billion | +11.89% |
| 2012-12-31 | ₩42.82 Billion | +5.96% |
| 2011-12-31 | ₩40.41 Billion | +59.78% |
| 2010-12-31 | ₩25.29 Billion | -7.71% |
| 2008-12-31 | ₩27.41 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to GSE 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 grown by 280.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₩46.80 Billion | 49.58% |
| Other Components | ₩47.59 Billion | 50.42% |
| Total Equity | ₩94.39 Billion | 100.00% |
GSE Co. Ltd Competitors by Market Cap
The table below lists competitors of GSE Co. Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
ANDHRA PAPER LIMITED
NSE:ANDHRAPAP
|
$31.10 Million |
|
SUNDRAGON S.A. ZY-1
F:6EI
|
$31.10 Million |
|
Ambipar Participações e Empreendimentos S.A
SA:AMBP3
|
$31.12 Million |
|
Enseval Putra Megatrading Tbk
JK:EPMT
|
$31.13 Million |
|
Frigo-Pak Gida Maddeleri Sanayi ve Ticaret AS
IS:FRIGO
|
$31.10 Million |
|
TUNGSTEN WEST PLC LS -01
F:540
|
$31.08 Million |
|
Nanophase Technol
OTCQB:NANX
|
$31.08 Million |
|
Casing Macron Technology Co Ltd
TWO:3325
|
$31.07 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in GSE Co. Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 92,608,584,160 to 94,393,840,710, a change of 1,785,256,550 (1.9%).
- Net income of 3,563,205,850 contributed positively to equity growth.
- Dividend payments of 1,199,503,880 reduced retained earnings.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₩3.56 Billion | +3.77% |
| Dividends Paid | ₩1.20 Billion | -1.27% |
| Other Changes | ₩-578.45 Million | -0.61% |
| Total Change | ₩- | 1.93% |
Book Value vs Market Value Analysis
This analysis compares GSE 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: 0.93x
- 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 1.37x to 0.93x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-12-31 | ₩2135.29 | ₩2935.00 | x |
| 2017-12-31 | ₩2262.71 | ₩2935.00 | x |
| 2018-12-31 | ₩2395.48 | ₩2935.00 | x |
| 2019-12-31 | ₩2495.32 | ₩2935.00 | x |
| 2020-12-31 | ₩2607.59 | ₩2935.00 | x |
| 2021-12-31 | ₩2775.59 | ₩2935.00 | x |
| 2022-12-31 | ₩2955.22 | ₩2935.00 | x |
| 2023-12-31 | ₩3088.23 | ₩2935.00 | x |
| 2024-12-31 | ₩3147.76 | ₩2935.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently GSE 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): 3.77%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 2.29%
- • Asset Turnover: 0.65x
- • Equity Multiplier: 2.53x
- Recent ROE (3.77%) is below the historical average (7.18%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2014 | 8.27% | 2.74% | 1.05x | 2.86x | ₩-827.57 Million |
| 2015 | 10.20% | 4.21% | 0.94x | 2.58x | ₩99.97 Million |
| 2016 | 10.28% | 5.43% | 0.77x | 2.46x | ₩154.07 Million |
| 2017 | 7.89% | 4.56% | 0.75x | 2.32x | ₩-1.32 Billion |
| 2018 | 8.74% | 4.35% | 0.87x | 2.31x | ₩-833.95 Million |
| 2019 | 6.21% | 3.15% | 0.86x | 2.30x | ₩-2.62 Billion |
| 2020 | 6.01% | 3.59% | 0.73x | 2.29x | ₩-2.88 Billion |
| 2021 | 4.90% | 3.17% | 0.72x | 2.16x | ₩-4.25 Billion |
| 2022 | 6.66% | 3.42% | 0.84x | 2.31x | ₩-2.96 Billion |
| 2023 | 6.03% | 3.31% | 0.81x | 2.26x | ₩-3.67 Billion |
| 2024 | 3.77% | 2.29% | 0.65x | 2.53x | ₩-5.88 Billion |
Industry Comparison
This section compares GSE Co. Ltd's net assets metrics with peer companies in the Utilities - Regulated Gas industry.
Industry Context
- Industry: Utilities - Regulated Gas
- Average net assets among peers: $477,764,292,331
- Average return on equity (ROE) among peers: 5.02%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| GSE Co. Ltd (053050) | ₩97.28 Billion | 8.27% | 1.16x | $31.10 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 |
| Incheon City G (034590) | $200.00 Billion | 6.09% | 1.12x | $19.99 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 |