FORCS Co.Ltd (189690) - Net Assets
Based on the latest financial reports, FORCS Co.Ltd (189690) has net assets worth ₩74.20 Billion KRW (≈ $50.29 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₩79.72 Billion ≈ $54.02 Million USD) and total liabilities (₩5.51 Billion ≈ $3.74 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. Check FORCS Co.Ltd asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₩74.20 Billion |
| % of Total Assets | 93.09% |
| Annual Growth Rate | 11.11% |
| 5-Year Change | 13.5% |
| 10-Year Change | 79.56% |
| Growth Volatility | 19.07 |
FORCS Co.Ltd - Net Assets Trend (2014–2025)
This chart illustrates how FORCS Co.Ltd's net assets have evolved over time, based on quarterly financial data. Also explore FORCS Co.Ltd assets under control for the complete picture of this company's asset base.
Annual Net Assets for FORCS Co.Ltd (2014–2025)
The table below shows the annual net assets of FORCS Co.Ltd from 2014 to 2025. For live valuation and market cap data, see FORCS Co.Ltd stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | ₩75.17 Billion ≈ $50.94 Million |
+1.40% |
| 2024-06-30 | ₩74.13 Billion ≈ $50.24 Million |
+4.96% |
| 2023-06-30 | ₩70.63 Billion ≈ $47.86 Million |
+6.64% |
| 2022-06-30 | ₩66.23 Billion ≈ $44.88 Million |
0.00% |
| 2021-06-30 | ₩66.23 Billion ≈ $44.88 Million |
+21.69% |
| 2020-06-30 | ₩54.42 Billion ≈ $36.88 Million |
+8.32% |
| 2019-06-30 | ₩50.24 Billion ≈ $34.05 Million |
+2.37% |
| 2018-06-30 | ₩49.08 Billion ≈ $33.26 Million |
+13.33% |
| 2017-06-30 | ₩43.31 Billion ≈ $29.35 Million |
+3.44% |
| 2016-06-30 | ₩41.87 Billion ≈ $28.37 Million |
+4.58% |
| 2015-06-30 | ₩40.03 Billion ≈ $27.13 Million |
+69.76% |
| 2014-06-30 | ₩23.58 Billion ≈ $15.98 Million |
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Equity Component Analysis
This analysis shows how different components contribute to FORCS 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 270.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (June 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₩56.34 Billion | 74.97% |
| Other Components | ₩18.81 Billion | 25.03% |
| Total Equity | ₩75.15 Billion | 100.00% |
FORCS Co.Ltd Competitors by Market Cap
The table below lists competitors of FORCS Co.Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Vince Holding Corp
NYSE:VNCE
|
$37.09 Million |
|
Fantasia Holdings Group Co. Limited
F:FT7
|
$37.12 Million |
|
Rocketboots Ltd
AU:ROC
|
$37.13 Million |
|
Aemulus Holdings Bhd
KLSE:0181
|
$37.15 Million |
|
Inch Kenneth Kajang Rubber PLC
KLSE:2607
|
$37.08 Million |
|
Revoil S.A
AT:REVOIL
|
$37.07 Million |
|
Woojin Plaimm
KO:049800
|
$37.07 Million |
|
Brand 24 SA
WAR:B24
|
$37.06 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in FORCS Co.Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 74,085,076,900 to 75,146,475,530, a change of 1,061,398,630 (1.4%).
- Net income of 4,550,569,570 contributed positively to equity growth.
- Dividend payments of 1,362,716,850 reduced retained earnings.
- Share repurchases of 2,097,411,930 reduced equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₩4.55 Billion | +6.06% |
| Dividends Paid | ₩1.36 Billion | -1.81% |
| Share Repurchases | ₩2.10 Billion | -2.79% |
| Other Changes | ₩-29.04 Million | -0.04% |
| Total Change | ₩- | 1.43% |
Book Value vs Market Value Analysis
This analysis compares FORCS 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: 0.73x
- 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 increased from 0.42x to 0.73x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-06-30 | ₩4886.70 | ₩2075.00 | x |
| 2018-06-30 | ₩5537.89 | ₩2075.00 | x |
| 2019-06-30 | ₩5669.30 | ₩2075.00 | x |
| 2020-06-30 | ₩6181.33 | ₩2075.00 | x |
| 2021-06-30 | ₩2545.27 | ₩2075.00 | x |
| 2022-06-30 | ₩2424.07 | ₩2075.00 | x |
| 2023-06-30 | ₩2584.97 | ₩2075.00 | x |
| 2024-06-30 | ₩2711.56 | ₩2075.00 | x |
| 2025-06-30 | ₩2849.83 | ₩2075.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently FORCS 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): 6.06%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 13.84%
- • Asset Turnover: 0.41x
- • Equity Multiplier: 1.07x
- Recent ROE (6.06%) is below the historical average (8.96%), 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 | 17.58% | 32.26% | 0.52x | 1.05x | ₩1.79 Billion |
| 2015 | 12.69% | 38.66% | 0.32x | 1.04x | ₩1.08 Billion |
| 2016 | 10.18% | 30.42% | 0.32x | 1.03x | ₩76.00 Million |
| 2017 | 4.80% | 16.21% | 0.29x | 1.02x | ₩-2.25 Billion |
| 2018 | 12.88% | 34.97% | 0.35x | 1.04x | ₩1.42 Billion |
| 2019 | 3.75% | 9.53% | 0.37x | 1.05x | ₩-3.14 Billion |
| 2020 | 9.42% | 23.62% | 0.38x | 1.05x | ₩-317.13 Million |
| 2021 | 6.42% | 17.94% | 0.34x | 1.06x | ₩-2.37 Billion |
| 2022 | 9.93% | 22.21% | 0.42x | 1.06x | ₩-46.74 Million |
| 2023 | 7.42% | 15.77% | 0.45x | 1.05x | ₩-1.82 Billion |
| 2024 | 6.39% | 15.12% | 0.40x | 1.06x | ₩-2.67 Billion |
| 2025 | 6.06% | 13.84% | 0.41x | 1.07x | ₩-2.96 Billion |
Industry Comparison
This section compares FORCS Co.Ltd's net assets metrics with peer companies in the Software - Application industry.
Industry Context
- Industry: Software - Application
- Average net assets among peers: $69,869,345,200
- Average return on equity (ROE) among peers: 6.71%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| FORCS Co.Ltd (189690) | ₩74.20 Billion | 17.58% | 0.07x | $37.08 Million |
| Douzone Bizon Co Ltd (012510) | $117.67 Billion | 9.16% | 0.79x | $2.28 Billion |
| NuriFlex Co.Ltd (040160) | $79.53 Billion | 0.79% | 0.93x | $128.40 Million |
| Raonsecure Co. Ltd (042510) | $38.00 Billion | 17.55% | 1.02x | $91.98 Million |
| Osangjaiel Co. Ltd (053980) | $64.51 Billion | 7.09% | 0.47x | $42.11 Million |
| Gemvaxlink Co. Ltd (064800) | $98.04 Billion | 2.92% | 2.90x | $68.25 Million |
| Mobileleader Co.Ltd (100030) | $52.35 Billion | 5.01% | 0.18x | $34.15 Million |
| Selvas Ai Inc. (108860) | $168.52 Billion | -1.51% | 0.14x | $239.67 Million |
| RSUPPORT Co. Ltd (131370) | $53.89 Billion | 9.30% | 0.09x | $91.85 Million |
| KineMaster Corporation (139670) | $14.28 Billion | 17.22% | 0.16x | $20.57 Million |
| Bflysoft Co. Ltd. (148780) | $11.91 Billion | -0.39% | 0.38x | $27.38 Million |
About FORCS Co.Ltd
FORCS Co.,Ltd. provides enterprise e-form and reporting solutions in South Korea and internationally. The company offers OZ e-Form, that converts paper documents and static forms created with pdf, Microsoft Word, Excel, or any other applications into dynamic fillable eForms; and OZ Report, an enterprise-level reporting solution, which comprises development, operational, and management tools for m… Read more