Incar Financial Service Co. Ltd. (211050) - Net Assets
Based on the latest financial reports, Incar Financial Service Co. Ltd. (211050) has net assets worth ₩199.88 Billion KRW (≈ $135.46 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 (₩896.06 Billion ≈ $607.25 Million USD) and total liabilities (₩696.18 Billion ≈ $471.79 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 tangible is Incar Financial Service Co. Ltd.'s equity to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₩199.88 Billion |
| % of Total Assets | 22.31% |
| Annual Growth Rate | 35.92% |
| 5-Year Change | 491.33% |
| 10-Year Change | N/A |
| Growth Volatility | 81.61 |
Incar Financial Service Co. Ltd. - Net Assets Trend (2016–2024)
This chart illustrates how Incar Financial Service Co. Ltd.'s net assets have evolved over time, based on quarterly financial data. See Incar Financial Service Co. Ltd. defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Incar Financial Service Co. Ltd. (2016–2024)
The table below shows the annual net assets of Incar Financial Service Co. Ltd. from 2016 to 2024. For live valuation and market cap data, see Incar Financial Service Co. Ltd. (211050) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ₩148.33 Billion ≈ $100.52 Million |
+53.32% |
| 2023-12-31 | ₩96.75 Billion ≈ $65.57 Million |
+31.79% |
| 2022-12-31 | ₩73.41 Billion ≈ $49.75 Million |
+76.98% |
| 2021-12-31 | ₩41.48 Billion ≈ $28.11 Million |
+65.36% |
| 2020-12-31 | ₩25.08 Billion ≈ $17.00 Million |
+81.48% |
| 2019-12-31 | ₩13.82 Billion ≈ $9.37 Million |
+26.66% |
| 2018-12-31 | ₩10.91 Billion ≈ $7.40 Million |
+221.39% |
| 2017-12-31 | ₩-8.99 Billion ≈ $-6.09 Million |
-170.60% |
| 2016-12-31 | ₩12.73 Billion ≈ $8.63 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Incar Financial Service 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 14499878758000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₩140.91 Billion | 95.00% |
| Common Stock | ₩5.14 Billion | 3.46% |
| Other Components | ₩2.28 Billion | 1.54% |
| Total Equity | ₩148.33 Billion | 100.00% |
Incar Financial Service Co. Ltd. Competitors by Market Cap
The table below lists competitors of Incar Financial Service Co. Ltd. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Hubei Mailyard Share Co Ltd
SHG:600107
|
$326.61 Million |
|
Transcom Inc
TW:5222
|
$326.65 Million |
|
Silence Therapeutics PLC
NASDAQ:SLN
|
$326.86 Million |
|
Guangdong Real-Design Intelligent Technology Co. Ltd.
SHE:301135
|
$327.05 Million |
|
Morguard Real Estate Investment Trust
TO:MRT-UN
|
$326.54 Million |
|
E1 Corporation
KO:017940
|
$326.39 Million |
|
Ratchthani Leasing Public Company Limited
BK:THANI
|
$326.19 Million |
|
Cion Investment Corp
NYSE:CION
|
$326.12 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Incar Financial Service Co. Ltd.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 96,749,183,700 to 148,334,188,000, a change of 51,585,004,300 (53.3%).
- Net income of 62,026,401,000 contributed positively to equity growth.
- Dividend payments of 3,521,611,000 reduced retained earnings.
- Share repurchases of 6,919,786,000 reduced equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₩62.03 Billion | +41.82% |
| Dividends Paid | ₩3.52 Billion | -2.37% |
| Share Repurchases | ₩6.92 Billion | -4.66% |
| Other Changes | ₩300.00 | +0.0% |
| Total Change | ₩- | 53.32% |
Book Value vs Market Value Analysis
This analysis compares Incar Financial Service 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: 3.23x
- 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 decreased from 4.58x to 3.23x 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 | ₩2149.77 | ₩9850.00 | x |
| 2017-12-31 | ₩-1517.83 | ₩9850.00 | x |
| 2018-12-31 | ₩1214.16 | ₩9850.00 | x |
| 2019-12-31 | ₩1537.88 | ₩9850.00 | x |
| 2020-12-31 | ₩2790.92 | ₩9850.00 | x |
| 2021-12-31 | ₩4615.10 | ₩9850.00 | x |
| 2022-12-31 | ₩7144.09 | ₩9850.00 | x |
| 2023-12-31 | ₩1923.11 | ₩9850.00 | x |
| 2024-12-31 | ₩3048.13 | ₩9850.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Incar Financial Service 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): 41.82%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.45%
- • Asset Turnover: 1.18x
- • Equity Multiplier: 4.77x
- Recent ROE (41.82%) is above the historical average (25.89%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 11.81% | 1.15% | 2.59x | 3.97x | ₩230.23 Million |
| 2017 | 0.00% | 0.33% | 1.71x | 0.00x | ₩1.39 Billion |
| 2018 | 11.42% | 0.62% | 1.89x | 9.67x | ₩154.76 Million |
| 2019 | 24.62% | 1.39% | 1.49x | 11.84x | ₩2.02 Billion |
| 2020 | 45.00% | 3.75% | 1.72x | 6.99x | ₩8.78 Billion |
| 2021 | 39.53% | 5.21% | 1.46x | 5.18x | ₩12.25 Billion |
| 2022 | 28.32% | 5.18% | 1.38x | 3.98x | ₩13.45 Billion |
| 2023 | 30.50% | 5.30% | 1.12x | 5.14x | ₩19.83 Billion |
| 2024 | 41.82% | 7.45% | 1.18x | 4.77x | ₩47.19 Billion |
Industry Comparison
This section compares Incar Financial Service Co. Ltd.'s net assets metrics with peer companies in the Financial Conglomerates industry.
Industry Context
- Industry: Financial Conglomerates
- Average net assets among peers: $1,414,669,000,000
- Average return on equity (ROE) among peers: 10.10%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Incar Financial Service Co. Ltd. (211050) | ₩199.88 Billion | 11.81% | 3.48x | $326.56 Million |
| LX Holdings Corp (383800) | $1.41 Trillion | 10.10% | 0.02x | $401.42 Million |
About Incar Financial Service Co. Ltd.
INCAR FINANCIAL SERVICE Co., Ltd. operates as an independent insurance agency in South Korea. The company offers non-life, life, general, and automobile insurance products. It also provides software development, and other financial consulting services. The company was formerly known as Incar Insu Co., Ltd. and changed its name to INCAR FINANCIAL SERVICE Co., Ltd. in July 2014. The company was fou… Read more