Ray Co. Ltd
RAY Co., Ltd. provides x-ray diagnostic equipment in the dental industry. The company offers RAYSACN Series, RAYios, RAYFace, RAYDENT Microscan, RIO Series, RAYDENT designer and tray, RAYSmiler, RAYDENT Studio, and RAYDENT Mill 4X and 5X, as well as consumables. RAY Co., Ltd. was incorporated in 2004 and is headquartered in Seongnam-si, South Korea.
Ray Co. Ltd (228670) - Net Assets
Latest net assets as of September 2025: ₩87.40 Billion KRW
Based on the latest financial reports, Ray Co. Ltd (228670) has net assets worth ₩87.40 Billion KRW as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₩210.17 Billion) and total liabilities (₩122.77 Billion). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₩87.40 Billion |
| % of Total Assets | 41.58% |
| Annual Growth Rate | 23.89% |
| 5-Year Change | 13.98% |
| 10-Year Change | N/A |
| Growth Volatility | 46.64 |
Ray Co. Ltd - Net Assets Trend (2016–2024)
This chart illustrates how Ray Co. Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Ray Co. Ltd (2016–2024)
The table below shows the annual net assets of Ray Co. Ltd from 2016 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ₩74.42 Billion | -43.28% |
| 2023-12-31 | ₩131.20 Billion | +12.80% |
| 2022-12-31 | ₩116.31 Billion | +15.48% |
| 2021-12-31 | ₩100.72 Billion | +54.26% |
| 2020-12-31 | ₩65.29 Billion | +13.48% |
| 2019-12-31 | ₩57.53 Billion | +118.95% |
| 2018-12-31 | ₩26.28 Billion | +78.86% |
| 2017-12-31 | ₩14.69 Billion | +9.56% |
| 2016-12-31 | ₩13.41 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Ray 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 3003666308000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | ₩7.76 Billion | 10.57% |
| Other Components | ₩100.85 Billion | 137.44% |
| Total Equity | ₩73.37 Billion | 100.00% |
Ray Co. Ltd Competitors by Market Cap
The table below lists competitors of Ray Co. Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Defense Metals Corp
OTCQB:DFMTF
|
$33.13 Million |
|
FnGuide Inc.
KQ:064850
|
$33.13 Million |
|
I Controls Inc
KO:039570
|
$33.14 Million |
|
Playside Studios Ltd
AU:PLY
|
$33.16 Million |
|
Mayur Resources Ltd
AU:MRL
|
$33.12 Million |
|
Polski Holding Nieruchomości SA
WAR:PHN
|
$33.12 Million |
|
Lokotech Group AS
OL:LOKO
|
$33.11 Million |
|
Lam Soon (Thailand) Public Company Limited
BK:LST
|
$33.07 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Ray Co. Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 127,274,238,780 to 73,374,297,630, a change of -53,899,941,150 (-42.3%).
- Net loss of 60,426,549,230 reduced equity.
- Other factors increased equity by 6,526,608,080.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₩-60.43 Billion | -82.35% |
| Other Changes | ₩6.53 Billion | +8.89% |
| Total Change | ₩- | -42.35% |
Book Value vs Market Value Analysis
This analysis compares Ray 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: 1.09x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 4.11x to 1.09x 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 | ₩1255.51 | ₩5160.00 | x |
| 2017-12-31 | ₩1375.54 | ₩5160.00 | x |
| 2018-12-31 | ₩2336.40 | ₩5160.00 | x |
| 2019-12-31 | ₩4323.60 | ₩5160.00 | x |
| 2020-12-31 | ₩4906.52 | ₩5160.00 | x |
| 2021-12-31 | ₩7568.85 | ₩5160.00 | x |
| 2022-12-31 | ₩8299.59 | ₩5160.00 | x |
| 2023-12-31 | ₩8329.50 | ₩5160.00 | x |
| 2024-12-31 | ₩4735.28 | ₩5160.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Ray 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): -82.35%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -75.68%
- • Asset Turnover: 0.39x
- • Equity Multiplier: 2.78x
- Recent ROE (-82.35%) is below the historical average (-0.49%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 12.78% | 6.46% | 1.09x | 1.82x | ₩372.12 Million |
| 2017 | 7.86% | 3.51% | 1.28x | 1.76x | ₩-314.89 Million |
| 2018 | 19.99% | 10.19% | 1.25x | 1.57x | ₩2.62 Billion |
| 2019 | 20.08% | 15.81% | 0.95x | 1.33x | ₩5.80 Billion |
| 2020 | 12.11% | 14.32% | 0.62x | 1.37x | ₩1.37 Billion |
| 2021 | -0.01% | -0.01% | 0.51x | 1.76x | ₩-10.08 Billion |
| 2022 | 6.84% | 6.17% | 0.58x | 1.91x | ₩-3.67 Billion |
| 2023 | -1.69% | -1.47% | 0.56x | 2.04x | ₩-14.87 Billion |
| 2024 | -82.35% | -75.68% | 0.39x | 2.78x | ₩-67.76 Billion |
Industry Comparison
This section compares Ray Co. Ltd's net assets metrics with peer companies in the Medical Devices industry.
Industry Context
- Industry: Medical Devices
- Average net assets among peers: $99,780,344,800
- Average return on equity (ROE) among peers: 4.37%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Ray Co. Ltd (228670) | ₩87.40 Billion | 12.78% | 1.40x | $33.13 Million |
| Shinhung (004080) | $91.90 Billion | 13.53% | 0.59x | $10.78 Million |
| Osang Healthcare Co.,Ltd (036220) | $285.75 Billion | -3.98% | 0.03x | $37.29 Million |
| HansBiomed Corporation (042520) | $65.30 Billion | 6.15% | 0.41x | $246.58 Million |
| JVM Co. Ltd (054950) | $137.36 Billion | 7.60% | 0.46x | $117.14 Million |
| Huvitz Co. Ltd (065510) | $121.79 Billion | 7.15% | 0.82x | $42.98 Million |
| Vieworks Co. Ltd (100120) | $140.80 Billion | 14.75% | 0.11x | $100.60 Million |
| Corentec Co Ltd (104540) | $54.32 Billion | -13.58% | 0.85x | $40.80 Million |
| Hironic Co. Ltd (149980) | $40.72 Billion | 7.13% | 0.15x | $23.71 Million |
| Laseroptek Co., Ltd. (199550) | $-3.94 Billion | 0.00% | 0.00x | $28.16 Million |
| Hana Must SPAC 2 (208370) | $63.80 Billion | 4.94% | 0.10x | $47.77 Million |