Global Tax Free Co. Ltd (204620) - Net Assets
Based on the latest financial reports, Global Tax Free Co. Ltd (204620) has net assets worth ₩150.10 Billion KRW (≈ $101.72 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 (₩203.81 Billion ≈ $138.12 Million USD) and total liabilities (₩53.72 Billion ≈ $36.40 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 how strategically is Global Tax Free Co. Ltd's equity deployed to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₩150.10 Billion |
| % of Total Assets | 73.64% |
| Annual Growth Rate | 34.94% |
| 5-Year Change | 81.46% |
| 10-Year Change | N/A |
| Growth Volatility | 145.0 |
Global Tax Free Co. Ltd - Net Assets Trend (2016–2024)
This chart illustrates how Global Tax Free Co. Ltd's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see 204620 stock market capitalisation.
Annual Net Assets for Global Tax Free Co. Ltd (2016–2024)
The table below shows the annual net assets of Global Tax Free Co. Ltd from 2016 to 2024. Also explore Global Tax Free Co. Ltd equity growth rate to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ₩128.37 Billion ≈ $87.00 Million |
+18.21% |
| 2023-12-31 | ₩108.60 Billion ≈ $73.59 Million |
+25.09% |
| 2022-12-31 | ₩86.81 Billion ≈ $58.83 Million |
+14.32% |
| 2021-12-31 | ₩75.94 Billion ≈ $51.46 Million |
+7.35% |
| 2020-12-31 | ₩70.74 Billion ≈ $47.94 Million |
-2.77% |
| 2019-12-31 | ₩72.76 Billion ≈ $49.31 Million |
-1.56% |
| 2018-12-31 | ₩73.91 Billion ≈ $50.09 Million |
+15.42% |
| 2017-12-31 | ₩64.04 Billion ≈ $43.40 Million |
+448.48% |
| 2016-12-31 | ₩11.68 Billion ≈ $7.91 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Global Tax Free 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 13933.5% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | ₩30.56 Billion | 27.86% |
| Other Components | ₩108.61 Billion | 99.03% |
| Total Equity | ₩109.68 Billion | 100.00% |
Global Tax Free Co. Ltd Competitors by Market Cap
The table below lists competitors of Global Tax Free Co. Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Marine Products Corporation
NYSE:MPX
|
$280.04 Million |
|
Dirui Industrial Co Ltd
SHE:300396
|
$280.13 Million |
|
Race Oncology Ltd
AU:RAC
|
$280.24 Million |
|
A-LIVING SM.CI.SV. H YC 1
F:1V0
|
$280.27 Million |
|
Gansu Huangtai Wine-marketing Industry Co. Ltd.
SHE:000995
|
$279.85 Million |
|
Myoung Shin Industrial Co Ltd
KO:009900
|
$279.84 Million |
|
Seah Steel Corp
KO:306200
|
$279.70 Million |
|
Grindrod Shipping Holdings Ltd
NASDAQ:GRIN
|
$279.54 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Global Tax Free Co. Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 89,484,979,230 to 109,679,219,100, a change of 20,194,239,870 (22.6%).
- Net income of 5,577,574,780 contributed positively to equity growth.
- Share repurchases of 5,974,884,670 reduced equity.
- New share issuances of 5,999,998,240 increased equity.
- Other factors increased equity by 14,591,551,520.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₩5.58 Billion | +5.09% |
| Share Repurchases | ₩5.97 Billion | -5.45% |
| Share Issuances | ₩6.00 Billion | +5.47% |
| Other Changes | ₩14.59 Billion | +13.3% |
| Total Change | ₩- | 22.57% |
Book Value vs Market Value Analysis
This analysis compares Global Tax Free 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: 3.77x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has increased from 1.21x to 3.77x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-12-31 | ₩4865.11 | ₩5880.00 | x |
| 2017-12-31 | ₩1787.05 | ₩5880.00 | x |
| 2018-12-31 | ₩2024.54 | ₩5880.00 | x |
| 2019-12-31 | ₩2048.82 | ₩5880.00 | x |
| 2020-12-31 | ₩1909.12 | ₩5880.00 | x |
| 2021-12-31 | ₩1570.58 | ₩5880.00 | x |
| 2022-12-31 | ₩1630.06 | ₩5880.00 | x |
| 2023-12-31 | ₩1596.62 | ₩5880.00 | x |
| 2024-12-31 | ₩1560.55 | ₩5880.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Global Tax Free 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): 5.09%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.30%
- • Asset Turnover: 0.74x
- • Equity Multiplier: 1.59x
- Recent ROE (5.09%) is above the historical average (-4.83%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 0.60% | 0.17% | 3.14x | 1.12x | ₩-1.10 Billion |
| 2017 | -3.70% | -7.19% | 0.43x | 1.19x | ₩-8.77 Billion |
| 2018 | 11.32% | 20.14% | 0.37x | 1.52x | ₩974.21 Million |
| 2019 | 7.97% | 9.71% | 0.47x | 1.74x | ₩-1.47 Billion |
| 2020 | -7.78% | -54.05% | 0.10x | 1.51x | ₩-12.58 Billion |
| 2021 | -34.10% | -67.89% | 0.29x | 1.71x | ₩-33.49 Billion |
| 2022 | -12.89% | -22.68% | 0.34x | 1.67x | ₩-19.88 Billion |
| 2023 | -9.93% | -10.87% | 0.49x | 1.87x | ₩-17.83 Billion |
| 2024 | 5.09% | 4.30% | 0.74x | 1.59x | ₩-5.39 Billion |
Industry Comparison
This section compares Global Tax Free Co. Ltd's net assets metrics with peer companies in the Specialty Business Services industry.
Industry Context
- Industry: Specialty Business Services
- Average net assets among peers: $123,737,934,366
- Average return on equity (ROE) among peers: 3.59%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Global Tax Free Co. Ltd (204620) | ₩150.10 Billion | 0.60% | 0.36x | $280.02 Million |
| Cubic Korea Inc (021650) | $33.29 Billion | 4.15% | 1.36x | $21.71 Million |
| Koryo Credit Information Co. Ltd (049720) | $39.29 Billion | 26.96% | 1.22x | $86.23 Million |
| Hannet Co. Ltd (052600) | $26.94 Billion | 11.83% | 0.33x | $22.92 Million |
| ktcs corporation (058850) | $191.58 Billion | 8.92% | 1.17x | $54.63 Million |
| Logisys Inc (067730) | $16.37 Billion | 2.83% | 0.46x | $14.42 Million |
| K Auction Inc. (102370) | $118.74 Billion | -4.26% | 0.74x | $50.88 Million |
| StarFlex Co. Ltd (115570) | $63.15 Billion | -23.34% | 0.47x | $15.11 Million |
| Imarketkorea (122900) | $457.45 Billion | 5.72% | 1.92x | $178.05 Million |
| CTK Co. Ltd (260930) | $166.83 Billion | -0.54% | 0.25x | $29.50 Million |
About Global Tax Free Co. Ltd
Global Tax Free Co., Ltd. operates as tax refund company for foreign tourists in South Korea, Singapore, Japan, and France. The company offers electronic tax refund system; and marketing services for clients and merchants. It also engages in the manufacturing and online and offline sales of cosmetics; and construction and sales of IT. The company was formerly known as TAX FREE KOREA CO., LTD. and… Read more