GRITEE Inc (204020) - Net Assets
Based on the latest financial reports, GRITEE Inc (204020) has net assets worth ₩84.27 Billion KRW (≈ $57.11 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 (₩147.12 Billion ≈ $99.70 Million USD) and total liabilities (₩62.85 Billion ≈ $42.60 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 financial resilience of GRITEE Inc to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₩84.27 Billion |
| % of Total Assets | 57.28% |
| Annual Growth Rate | 6.69% |
| 5-Year Change | 13.45% |
| 10-Year Change | N/A |
| Growth Volatility | 11.25 |
GRITEE Inc - Net Assets Trend (2015–2024)
This chart illustrates how GRITEE Inc's net assets have evolved over time, based on quarterly financial data. Also explore GRITEE Inc total assets for the complete picture of this company's asset base.
Annual Net Assets for GRITEE Inc (2015–2024)
The table below shows the annual net assets of GRITEE Inc from 2015 to 2024. For live valuation and market cap data, see GRITEE Inc market cap and net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ₩81.67 Billion ≈ $55.35 Million |
+7.87% |
| 2023-12-31 | ₩75.71 Billion ≈ $51.31 Million |
+10.25% |
| 2022-12-31 | ₩68.68 Billion ≈ $46.54 Million |
+2.89% |
| 2021-12-31 | ₩66.75 Billion ≈ $45.23 Million |
-7.28% |
| 2020-12-31 | ₩71.99 Billion ≈ $48.79 Million |
-2.84% |
| 2019-12-31 | ₩74.10 Billion ≈ $50.21 Million |
-0.30% |
| 2018-12-31 | ₩74.32 Billion ≈ $50.37 Million |
+33.64% |
| 2017-12-31 | ₩55.61 Billion ≈ $37.69 Million |
+13.93% |
| 2016-12-31 | ₩48.81 Billion ≈ $33.08 Million |
+7.01% |
| 2015-12-31 | ₩45.61 Billion ≈ $30.91 Million |
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Equity Component Analysis
This analysis shows how different components contribute to GRITEE Inc'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 43.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₩50.36 Billion | 61.66% |
| Common Stock | ₩10.39 Billion | 12.73% |
| Other Components | ₩20.92 Billion | 25.62% |
| Total Equity | ₩81.67 Billion | 100.00% |
GRITEE Inc Competitors by Market Cap
The table below lists competitors of GRITEE Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Net Digital AG
XETRA:VRL
|
$30.66 Million |
|
TINYBUILD REGSCAT3 DL-001
F:8Z3
|
$30.68 Million |
|
Quilter PLC
LSE:QLT
|
$30.68 Million |
|
Frtek Co.Ltd
KQ:073540
|
$30.68 Million |
|
Ascendis Health Ltd
JSE:ASC
|
$30.61 Million |
|
Aveng Ltd
JSE:AEG
|
$30.61 Million |
|
Reliq Health Technologies Inc
V:RHT
|
$30.60 Million |
|
FSBM Holdings Bhd
KLSE:9377
|
$30.60 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in GRITEE Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 76,125,886,000 to 81,671,366,110, a change of 5,545,480,110 (7.3%).
- Net income of 9,715,297,730 contributed positively to equity growth.
- Dividend payments of 2,002,165,700 reduced retained earnings.
- Share repurchases of 1,709,333,150 reduced equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₩9.72 Billion | +11.9% |
| Dividends Paid | ₩2.00 Billion | -2.45% |
| Share Repurchases | ₩1.71 Billion | -2.09% |
| Other Changes | ₩-458.32 Million | -0.56% |
| Total Change | ₩- | 7.28% |
Book Value vs Market Value Analysis
This analysis compares GRITEE Inc'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: 0.56x
- 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 0.83x to 0.56x 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 | ₩2830.53 | ₩2340.00 | x |
| 2017-12-31 | ₩3224.95 | ₩2340.00 | x |
| 2018-12-31 | ₩3688.85 | ₩2340.00 | x |
| 2019-12-31 | ₩3677.70 | ₩2340.00 | x |
| 2020-12-31 | ₩3786.60 | ₩2340.00 | x |
| 2021-12-31 | ₩3333.78 | ₩2340.00 | x |
| 2022-12-31 | ₩3430.04 | ₩2340.00 | x |
| 2023-12-31 | ₩3802.18 | ₩2340.00 | x |
| 2024-12-31 | ₩4205.24 | ₩2340.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently GRITEE Inc 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): 11.90%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.99%
- • Asset Turnover: 1.89x
- • Equity Multiplier: 1.26x
- Recent ROE (11.90%) is above the historical average (6.07%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 12.83% | 5.71% | 1.84x | 1.22x | ₩1.29 Billion |
| 2016 | 7.24% | 3.35% | 1.63x | 1.33x | ₩-1.35 Billion |
| 2017 | 14.25% | 6.30% | 1.72x | 1.32x | ₩2.36 Billion |
| 2018 | 6.90% | 4.30% | 1.25x | 1.29x | ₩-2.30 Billion |
| 2019 | 2.43% | 1.46% | 1.34x | 1.24x | ₩-5.61 Billion |
| 2020 | 1.33% | 0.78% | 1.41x | 1.21x | ₩-6.24 Billion |
| 2021 | -10.26% | -6.30% | 1.26x | 1.30x | ₩-13.53 Billion |
| 2022 | 2.95% | 1.41% | 1.62x | 1.29x | ₩-4.84 Billion |
| 2023 | 11.15% | 4.82% | 1.87x | 1.23x | ₩874.20 Million |
| 2024 | 11.90% | 4.99% | 1.89x | 1.26x | ₩1.55 Billion |
Industry Comparison
This section compares GRITEE Inc's net assets metrics with peer companies in the Apparel Retail industry.
Industry Context
- Industry: Apparel Retail
- Average net assets among peers: $167,675,790,500
- Average return on equity (ROE) among peers: -0.37%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| GRITEE Inc (204020) | ₩84.27 Billion | 12.83% | 0.75x | $30.65 Million |
| Shinsegae Inte (031430) | $408.98 Billion | 12.23% | 0.52x | $348.73 Million |
| Daewoo SBI SPAC 1 (215480) | $17.37 Billion | -22.30% | 0.61x | $13.69 Million |
| Castelbajac Co. Ltd (308100) | $76.68 Billion | 8.96% | 0.16x | $6.93 Million |
About GRITEE Inc
GRITEE, Inc., together with its subsidiaries, engages in the manufacture and sale of apparel in South Korea and China. It also manufactures, wholesales, and retails underwear under the Wonderbra and Playtex brand names. The company was formerly known as MCorset, Inc. GRITEE, Inc. was founded in 1999 and is headquartered in Seoul, Korea.