Mdevice (226590) - Net Assets
Based on the latest financial reports, Mdevice (226590) has net assets worth ₩47.93 Billion KRW (≈ $32.48 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₩96.81 Billion ≈ $65.61 Million USD) and total liabilities (₩48.88 Billion ≈ $33.13 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 Mdevice liquid asset ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₩47.93 Billion |
| % of Total Assets | 49.51% |
| Annual Growth Rate | 58.7% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 223.11 |
Mdevice - Net Assets Trend (2022–2025)
This chart illustrates how Mdevice's net assets have evolved over time, based on quarterly financial data. Also explore how large is Mdevice's balance sheet for the complete picture of this company's asset base.
Annual Net Assets for Mdevice (2022–2025)
The table below shows the annual net assets of Mdevice from 2022 to 2025. For live valuation and market cap data, see 226590 market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ₩47.93 Billion ≈ $32.48 Million |
+82.34% |
| 2024-12-31 | ₩26.29 Billion ≈ $17.81 Million |
+467.13% |
| 2023-12-31 | ₩4.63 Billion ≈ $3.14 Million |
-61.34% |
| 2022-12-31 | ₩11.99 Billion ≈ $8.12 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Mdevice'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 1398.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₩11.85 Billion | 25.05% |
| Other Components | ₩35.48 Billion | 74.95% |
| Total Equity | ₩47.33 Billion | 100.00% |
Mdevice Competitors by Market Cap
The table below lists competitors of Mdevice ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Firich Enterprises Co Ltd
TWO:8076
|
$205.76 Million |
|
Maxim Power Corp.
TO:MXG
|
$205.78 Million |
|
HomeChoice Investments Ltd
JSE:HIL
|
$205.79 Million |
|
Hinduja Global Solutions Limited
NSE:HGS
|
$205.87 Million |
|
PT Multikarya Asia Pacific Ray
JK:MKAP
|
$205.67 Million |
|
Hanyang Digitech Co. Ltd
KQ:078350
|
$205.61 Million |
|
Grupo Minsa S.A.B. de C.V
MX:MINSAB
|
$205.55 Million |
|
Argo Pantes Tbk
JK:ARGO
|
$205.53 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Mdevice's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 26,285,702,640 to 47,331,551,130, a change of 21,045,848,490 (80.1%).
- Net income of 10,730,971,280 contributed positively to equity growth.
- New share issuances of 10,346,709,880 increased equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₩10.73 Billion | +22.67% |
| Share Issuances | ₩10.35 Billion | +21.86% |
| Other Changes | ₩-31.83 Million | -0.07% |
| Total Change | ₩- | 80.07% |
Book Value vs Market Value Analysis
This analysis compares Mdevice'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: 6.41x
- 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 25.17x to 6.41x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2022-12-31 | ₩1134.35 | ₩28550.00 | x |
| 2023-12-31 | ₩438.58 | ₩28550.00 | x |
| 2024-12-31 | ₩2835.57 | ₩28550.00 | x |
| 2025-12-31 | ₩4452.31 | ₩28550.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Mdevice 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): 22.67%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 11.12%
- • Asset Turnover: 1.00x
- • Equity Multiplier: 2.05x
- Recent ROE (22.67%) is above the historical average (-37.76%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2022 | -27.48% | -32.57% | 0.21x | 4.02x | ₩-4.49 Billion |
| 2023 | -158.38% | -74.52% | 0.32x | 6.56x | ₩-7.80 Billion |
| 2024 | 12.14% | 6.60% | 1.37x | 1.34x | ₩561.50 Million |
| 2025 | 22.67% | 11.12% | 1.00x | 2.05x | ₩6.00 Billion |
Industry Comparison
This section compares Mdevice's net assets metrics with peer companies in the Electronic Components industry.
Industry Context
- Industry: Electronic Components
- Average net assets among peers: $218,334,830,115
- Average return on equity (ROE) among peers: 5.32%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Mdevice (226590) | ₩47.93 Billion | -27.48% | 1.02x | $205.68 Million |
| YoungPoong (000670) | $471.92 Billion | 0.00% | 1.01x | $822.21 Million |
| Sam Hwa Capaci (001820) | $22.52 Billion | 31.89% | 1.98x | $467.29 Million |
| Samick Music I (002450) | $144.58 Billion | 1.50% | 1.43x | $64.41 Million |
| Hansol Technics (004710) | $34.25 Billion | 0.00% | 5.26x | $173.10 Million |
| Sunny Elec (004770) | $30.06 Billion | 0.40% | 0.10x | $43.99 Million |
| Samyoung Elec (005680) | $363.17 Billion | 5.47% | 0.12x | $197.81 Million |
| PJ Electronics Co. Ltd (006140) | $109.57 Billion | 4.53% | 0.33x | $71.73 Million |
| Isupetasys (007660) | $168.70 Billion | 12.06% | 1.02x | $7.48 Billion |
| Korea Circuit Co. Ltd. (007810) | $128.70 Billion | 2.46% | 0.61x | $1.51 Billion |
| Korea Circuit Co Ltd (007815) | $709.89 Billion | -5.16% | 0.74x | $43.40 Million |
About Mdevice
MEGAELECTRONICS Co., Ltd. designs, manufactures, and sells storage devices in South Korea. It offers flash storage solid state drives and semiconductor storage devices for digital devices and data center servers. The company was founded in 2009 and is based in Gwacheon-si, South Korea.