REFINE Co. Ltd.
REFINE Co., Ltd. provides real estate services in South Korea. The company offers secure real estate transactions; real estate mortgage loans rights investigation; non face to face surety insurance and mortgage loan related services; after care services; investigation of moveable property loan right; and title insurance underwriting for title investigations services. It serves financial instituti… Read more
REFINE Co. Ltd. (377450) - Net Assets
Latest net assets as of September 2025: ₩220.80 Billion KRW
Based on the latest financial reports, REFINE Co. Ltd. (377450) has net assets worth ₩220.80 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 (₩231.96 Billion) and total liabilities (₩11.16 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 | ₩220.80 Billion |
| % of Total Assets | 95.19% |
| Annual Growth Rate | 53.51% |
| 5-Year Change | 372.96% |
| 10-Year Change | N/A |
| Growth Volatility | 103.12 |
REFINE Co. Ltd. - Net Assets Trend (2019–2024)
This chart illustrates how REFINE 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 REFINE Co. Ltd. (2019–2024)
The table below shows the annual net assets of REFINE Co. Ltd. from 2019 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ₩170.44 Billion | +7.44% |
| 2023-12-31 | ₩158.64 Billion | +13.79% |
| 2022-12-31 | ₩139.41 Billion | +3.37% |
| 2021-12-31 | ₩134.87 Billion | +274.24% |
| 2020-12-31 | ₩36.04 Billion | +80.43% |
| 2019-12-31 | ₩19.97 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to REFINE 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 479.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₩110.14 Billion | 64.62% |
| Common Stock | ₩1.73 Billion | 1.02% |
| Other Components | ₩58.57 Billion | 34.36% |
| Total Equity | ₩170.44 Billion | 100.00% |
REFINE Co. Ltd. Competitors by Market Cap
The table below lists competitors of REFINE Co. Ltd. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Binh Duong Trade and Development JSC
VN:TDC
|
$43.49 Million |
|
First Seacoast Bancorp
NASDAQ:FSEA
|
$43.50 Million |
|
Siebert Financial Corp
NASDAQ:SIEB
|
$43.51 Million |
|
Rhinebeck Bancorp Inc
NASDAQ:RBKB
|
$43.52 Million |
|
Intech Biopharm Ltd
TWO:6461
|
$43.47 Million |
|
DANIEL THWAITES LS-25
F:7KW
|
$43.47 Million |
|
Japan Medical Dynamic Marketing INC
F:JMD
|
$43.45 Million |
|
Mega Or
TA:MGOR
|
$43.45 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in REFINE Co. Ltd.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 158,639,446,590 to 170,437,824,190, a change of 11,798,377,600 (7.4%).
- Net income of 20,618,412,040 contributed positively to equity growth.
- Share repurchases of 8,604,146,620 reduced equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₩20.62 Billion | +12.1% |
| Share Repurchases | ₩8.60 Billion | -5.05% |
| Other Changes | ₩-215.89 Million | -0.13% |
| Total Change | ₩- | 7.44% |
Book Value vs Market Value Analysis
This analysis compares REFINE 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: 1.08x
- 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 10.46x to 1.08x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2019-12-31 | ₩1152.49 | ₩12050.00 | x |
| 2020-12-31 | ₩2079.44 | ₩12050.00 | x |
| 2021-12-31 | ₩7975.89 | ₩12050.00 | x |
| 2022-12-31 | ₩8817.51 | ₩12050.00 | x |
| 2023-12-31 | ₩10147.43 | ₩12050.00 | x |
| 2024-12-31 | ₩11209.22 | ₩12050.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently REFINE 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): 12.10%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 30.39%
- • Asset Turnover: 0.37x
- • Equity Multiplier: 1.07x
- Recent ROE (12.10%) is below the historical average (20.44%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | 27.09% | 12.09% | 1.21x | 1.85x | ₩3.41 Billion |
| 2020 | 44.59% | 29.66% | 1.10x | 1.37x | ₩12.46 Billion |
| 2021 | 12.52% | 28.72% | 0.40x | 1.09x | ₩3.39 Billion |
| 2022 | 12.69% | 32.11% | 0.36x | 1.09x | ₩3.74 Billion |
| 2023 | 13.67% | 32.61% | 0.38x | 1.09x | ₩5.82 Billion |
| 2024 | 12.10% | 30.39% | 0.37x | 1.07x | ₩3.57 Billion |
Industry Comparison
This section compares REFINE Co. Ltd.'s net assets metrics with peer companies in the Real Estate Services industry.
Industry Context
- Industry: Real Estate Services
- Average net assets among peers: $84,520,674,000
- Average return on equity (ROE) among peers: 2.44%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| REFINE Co. Ltd. (377450) | ₩220.80 Billion | 27.09% | 0.05x | $43.49 Million |
| Haesung Industrial Co. Ltd (034810) | $84.52 Billion | 2.44% | 0.17x | $59.32 Million |