IBKS No2 SPAC (204840) - Net Assets

Latest as of March 2026: ₩19.80 Billion KRW ≈ $13.42 Million USD

Based on the latest financial reports, IBKS No2 SPAC (204840) has net assets worth ₩19.80 Billion KRW (≈ $13.42 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₩48.60 Billion ≈ $32.94 Million USD) and total liabilities (₩28.80 Billion ≈ $19.52 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. Also explore IBKS No2 SPAC (204840) total assets for the complete picture of this company's asset base.

Key Net Assets Metrics

Metric Value
Current Net Assets ₩19.80 Billion
% of Total Assets 40.74%
Annual Growth Rate 20.13%
5-Year Change 18.22%
10-Year Change 132.47%
Growth Volatility 159.03

IBKS No2 SPAC - Net Assets Trend (2015–2025)

This chart illustrates how IBKS No2 SPAC's net assets have evolved over time, based on quarterly financial data. Check IBKS No2 SPAC tangible book value ratio to evaluate the tangible quality of the company's equity base.

Annual Net Assets for IBKS No2 SPAC (2015–2025)

The table below shows the annual net assets of IBKS No2 SPAC from 2015 to 2025. For live valuation and market cap data, see how much is IBKS No2 SPAC worth.

Year Net Assets Change
2025-12-31 ₩19.92 Billion
≈ $13.50 Million		 +1.28%
2024-12-31 ₩19.67 Billion
≈ $13.33 Million		 +60.13%
2023-12-31 ₩12.28 Billion
≈ $8.32 Million		 -23.67%
2022-12-31 ₩16.09 Billion
≈ $10.90 Million		 -4.50%
2021-12-31 ₩16.85 Billion
≈ $11.42 Million		 +17.71%
2020-12-31 ₩14.31 Billion
≈ $9.70 Million		 +506.12%
2019-12-31 ₩2.36 Billion
≈ $1.60 Million		 -69.79%
2018-12-31 ₩7.82 Billion
≈ $5.30 Million		 +31.70%
2017-12-31 ₩5.94 Billion
≈ $4.02 Million		 -30.73%
2016-12-31 ₩8.57 Billion
≈ $5.81 Million		 +169.20%
2015-12-31 ₩3.18 Billion
≈ $2.16 Million		 --

Equity Component Analysis

This analysis shows how different components contribute to IBKS No2 SPAC'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 2121971277000.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2025)

Component Amount Percentage
Other Components ₩42.07 Billion 211.20%
Total Equity ₩19.92 Billion 100.00%

IBKS No2 SPAC Competitors by Market Cap

The table below lists competitors of IBKS No2 SPAC ranked by their market capitalization.

Company Market Cap
Pembangunan Jaya Ancol Tbk
JK:PJAA
 $43.13 Million
Senko Co. Ltd
KQ:347000
 $43.13 Million
Cyan AG
XETRA:CYR
 $43.14 Million
Cryosite Ltd
AU:CTE
 $43.17 Million
Wing Yip Food (China) Holdings Group Limited
KQ:900340
 $43.11 Million
Korea Computer Inc
KQ:054040
 $43.11 Million
Me2on Co. Ltd
KQ:201490
 $43.07 Million
Heritage Global Inc
NASDAQ:HGBL
 $43.07 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in IBKS No2 SPAC's equity between the two most recent reporting periods.

Equity Growth Insights

  • From 2024 to 2025, total equity changed from 19,667,919,320 to 19,918,857,120, a change of 250,937,800 (1.3%).
  • Net income of 12,489,000 contributed positively to equity growth.
  • New share issuances of 275,553,600 increased equity.

Equity Change Factors (2024 to 2025)

Factor Impact Contribution
Net Income ₩12.49 Million +0.06%
Share Issuances ₩275.55 Million +1.38%
Other Changes ₩-37.10 Million -0.19%
Total Change ₩- 1.28%

Book Value vs Market Value Analysis

This analysis compares IBKS No2 SPAC'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: 3.19x
  • 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 3.09x to 3.19x 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 ₩266.75 ₩824.00 x
2017-12-31 ₩176.05 ₩824.00 x
2018-12-31 ₩205.51 ₩824.00 x
2019-12-31 ₩66.00 ₩824.00 x
2020-12-31 ₩303.21 ₩824.00 x
2021-12-31 ₩272.40 ₩824.00 x
2022-12-31 ₩259.09 ₩824.00 x
2023-12-31 ₩196.98 ₩824.00 x
2024-12-31 ₩255.54 ₩824.00 x
2025-12-31 ₩257.97 ₩824.00 x

Capital Efficiency Dashboard

This dashboard shows how efficiently IBKS No2 SPAC 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): 0.06%
  • The company may be facing challenges in efficiently utilizing shareholder equity.
  • DuPont Analysis Breakdown:
  • • Net Profit Margin: 0.04%
  • • Asset Turnover: 0.72x
  • • Equity Multiplier: 2.45x
  • Recent ROE (0.06%) is above the historical average (-48.15%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year Return on Equity Net Profit Margin Asset Turnover Equity Multiplier Economic Value Added
2015 0.62% 0.26% 0.73x 3.29x ₩-252.78 Million
2016 -64.13% -118.53% 0.38x 1.44x ₩-6.35 Billion
2017 -71.38% -175.52% 0.16x 2.53x ₩-4.83 Billion
2018 -68.44% -66.88% 0.25x 4.04x ₩-6.13 Billion
2019 -233.54% -51.99% 0.40x 11.24x ₩-5.75 Billion
2020 -23.45% -28.00% 0.34x 2.44x ₩-4.79 Billion
2021 -22.12% -30.00% 0.39x 1.89x ₩-5.41 Billion
2022 -4.91% -4.72% 0.41x 2.54x ₩-2.40 Billion
2023 -30.52% -14.40% 0.65x 3.25x ₩-4.98 Billion
2024 -11.88% -8.97% 0.61x 2.16x ₩-4.30 Billion
2025 0.06% 0.04% 0.72x 2.45x ₩-1.98 Billion

Industry Comparison

This section compares IBKS No2 SPAC's net assets metrics with peer companies in the Drug Manufacturers - Specialty & Generic industry.

Industry Context

  • Industry: Drug Manufacturers - Specialty & Generic
  • Average net assets among peers: $482,304,574,948
  • Average return on equity (ROE) among peers: -1.76%

Peer Company Comparison

Company Net Assets Return on Equity Debt-to-Equity Market Cap
IBKS No2 SPAC (204840) ₩19.80 Billion 0.62% 1.45x $43.12 Million
Dongwha Pharm.Co.Ltd (000020) $297.40 Billion 3.39% 0.25x $94.48 Million
Yuhan Corp. (000100) $1.19 Trillion 6.67% 0.18x $3.40 Billion
Yuhan Corp Preferred (000105) $1.61 Trillion 6.79% 0.30x $45.29 Million
Yuyu Pharma (000220) $69.50 Billion 3.97% 0.28x $39.59 Million
Yuyu Pharma Inc (000225) $140.54 Billion 5.80% 0.47x $14.81 Million
Yuyu Pharma Inc (000227) $86.87 Billion 4.63% 0.56x $34.03 Million
Ildong Holdings Co Ltd (000230) $169.90 Billion -35.07% 4.16x $45.00 Million
Samil Pharm (000520) $55.42 Billion -20.19% 0.95x $86.61 Million
Donga Socio Holdings (000640) $985.04 Billion 6.12% 0.72x $361.70 Million
Jw Pharmac (001060) $223.83 Billion 0.28% 1.65x $366.76 Million

About IBKS No2 SPAC

KQ:204840 Korea Drug Manufacturers - Specialty & Generic
Market Cap
$43.12 Million
₩63.63 Billion KRW
Market Cap Rank
#22436 Global
#1404 in Korea
Share Price
₩824.00
Change (1 day)
-2.14%
52-Week Range
₩780.00 - ₩1274.00
All Time High
₩8655.23
Categories
Companies in Korea Drug Manufacturers - Specialty & Generic
About

GL Pharm Tech Corp. provides generic drugs and incrementally modified drug (IMD) formulation technology to pharmaceutical companies in South Korea. The company offers IMD for gastritis, antidepressant, anorectic, and antibiotic indications. It also provides generic drugs for cardiovascular, urology, pain, anti-infection, gastric disease, diabetes, central nervous system disease, respiratory disea… Read more