Kulmbacher Brauerei Aktien-Gesellschaft (KUL) - Net Assets
Based on the latest financial reports, Kulmbacher Brauerei Aktien-Gesellschaft (KUL) has net assets worth €85.55 Million EUR (≈ $100.01 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 (€254.33 Million ≈ $297.34 Million USD) and total liabilities (€168.79 Million ≈ $197.33 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. Explore KUL cash flow conversion to assess how effectively this company generates cash.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €85.55 Million |
| % of Total Assets | 33.64% |
| Annual Growth Rate | 3.31% |
| 5-Year Change | 13.94% |
| 10-Year Change | 24.3% |
| Growth Volatility | 5.24 |
Kulmbacher Brauerei Aktien-Gesellschaft - Net Assets Trend (2015–2025)
This chart illustrates how Kulmbacher Brauerei Aktien-Gesellschaft's net assets have evolved over time, based on quarterly financial data. Explore long-term investment intensity of Kulmbacher Brauerei Aktien-Gesellschaft to see how much of total assets are deployed in long-term investments.
Annual Net Assets for Kulmbacher Brauerei Aktien-Gesellschaft (2015–2025)
The table below shows the annual net assets of Kulmbacher Brauerei Aktien-Gesellschaft from 2015 to 2025. For live valuation and market cap data, see KUL stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €85.55 Million ≈ $100.01 Million |
+0.59% |
| 2024-12-31 | €85.04 Million ≈ $99.43 Million |
+3.60% |
| 2023-12-31 | €82.09 Million ≈ $95.97 Million |
+1.53% |
| 2022-12-31 | €80.86 Million ≈ $94.53 Million |
+7.69% |
| 2021-12-31 | €75.08 Million ≈ $87.78 Million |
-8.89% |
| 2020-12-31 | €82.41 Million ≈ $96.34 Million |
+1.93% |
| 2019-12-31 | €80.85 Million ≈ $94.52 Million |
+2.60% |
| 2018-12-31 | €78.80 Million ≈ $92.12 Million |
+7.11% |
| 2017-12-31 | €73.56 Million ≈ $86.00 Million |
+6.89% |
| 2016-12-31 | €68.82 Million ≈ $80.46 Million |
+11.46% |
| 2015-12-31 | €61.75 Million ≈ $72.19 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Kulmbacher Brauerei Aktien-Gesellschaft'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 74.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €45.93 Million | 53.69% |
| Other Components | €39.62 Million | 46.31% |
| Total Equity | €85.55 Million | 100.00% |
Kulmbacher Brauerei Aktien-Gesellschaft Competitors by Market Cap
The table below lists competitors of Kulmbacher Brauerei Aktien-Gesellschaft ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Thailand Prime Property Freehold and Leasehold Real Estate Investment Trust
BK:TPRIME
|
$127.14 Million |
|
K2 Gold Corporation
V:KTO
|
$127.14 Million |
|
UNIBEP S.A.
WAR:UNI
|
$127.21 Million |
|
Fortinova Fastigheter AB Series B
ST:FNOVA-B
|
$127.30 Million |
|
Ally Leasehold Real Estate Investment Trust
BK:ALLY
|
$126.96 Million |
|
HYUNDAI FEED Inc
KQ:016790
|
$126.96 Million |
|
Karex Berhad
KLSE:5247
|
$126.95 Million |
|
Amogreentech Co.Ltd
KQ:125210
|
$126.89 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Kulmbacher Brauerei Aktien-Gesellschaft's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 85,044,000 to 85,548,000, a change of 504,000 (0.6%).
- Net income of 4,928,000 contributed positively to equity growth.
- Dividend payments of 4,536,000 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €4.93 Million | +5.76% |
| Dividends Paid | €4.54 Million | -5.3% |
| Other Changes | €112.00K | +0.13% |
| Total Change | €- | 0.59% |
Book Value vs Market Value Analysis
This analysis compares Kulmbacher Brauerei Aktien-Gesellschaft'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: 1.44x
- 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 1.67x to 1.44x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | €21.89 | €36.60 | x |
| 2018-12-31 | €23.45 | €36.60 | x |
| 2019-12-31 | €24.06 | €36.60 | x |
| 2020-12-31 | €24.53 | €36.60 | x |
| 2021-12-31 | €22.35 | €36.60 | x |
| 2022-12-31 | €24.06 | €36.60 | x |
| 2023-12-31 | €24.43 | €36.60 | x |
| 2024-12-31 | €25.31 | €36.60 | x |
| 2025-12-31 | €25.46 | €36.60 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Kulmbacher Brauerei Aktien-Gesellschaft 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): 5.76%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.70%
- • Asset Turnover: 1.14x
- • Equity Multiplier: 2.97x
- Recent ROE (5.76%) is below the historical average (9.39%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 8.82% | 2.43% | 1.42x | 2.55x | €-727.70K |
| 2016 | 12.27% | 3.83% | 1.31x | 2.45x | €1.56 Million |
| 2017 | 10.03% | 3.36% | 1.30x | 2.30x | €20.80K |
| 2018 | 11.77% | 4.01% | 1.30x | 2.25x | €1.40 Million |
| 2019 | 10.40% | 3.61% | 1.10x | 2.61x | €325.40K |
| 2020 | 7.99% | 2.79% | 1.03x | 2.78x | €-1.65 Million |
| 2021 | 10.11% | 3.15% | 1.02x | 3.13x | €79.90K |
| 2022 | 10.60% | 3.28% | 1.07x | 3.02x | €481.50K |
| 2023 | 7.30% | 2.12% | 1.12x | 3.06x | €-2.22 Million |
| 2024 | 8.24% | 2.41% | 1.13x | 3.01x | €-1.50 Million |
| 2025 | 5.76% | 1.70% | 1.14x | 2.97x | €-3.63 Million |
Industry Comparison
This section compares Kulmbacher Brauerei Aktien-Gesellschaft's net assets metrics with peer companies in the Beverages - Brewers industry.
Industry Context
- Industry: Beverages - Brewers
- Average net assets among peers: $155,907,454,502
- Average return on equity (ROE) among peers: 4.90%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Kulmbacher Brauerei Aktien-Gesellschaft (KUL) | €85.55 Million | 8.82% | 1.97x | $127.01 Million |
| BUDWEISER BREW.UNSP.ADR/4 (4BB1) | $10.33 Billion | 4.73% | 0.43x | $11.20 Billion |
| MOLSON COORS CDA EXCH.B (65K) | $10.54 Billion | -20.29% | 1.16x | $321.79 Million |
| AKTIENBRAU.KAUFBEUR (ABK) | $7.03 Million | 18.83% | 0.68x | $5.99 Million |
| Ambev S.A. (AMNA) | $99.58 Billion | 14.50% | 0.63x | $43.57 Billion |
| BHB Brauholding Bayern-Mitte AG (B9B) | $10.65 Million | -2.71% | 0.56x | $6.56 Million |
| CARLSBERG B DK20 ADR 1/5 (CBGC) | $34.72 Billion | -3.06% | 2.32x | $12.20 Billion |
| Compañía Cervecerías Unidas S.A (CVU) | $1.23 Trillion | 10.56% | 0.61x | $1.87 Billion |
| C&C Group PLC (GCC) | $533.60 Million | 12.43% | 1.03x | $430.95 Million |
| HEINEKEN SP. ADR 1/2 (HNK2) | $20.61 Billion | 9.14% | 1.61x | $42.73 Billion |
About Kulmbacher Brauerei Aktien-Gesellschaft
Kulmbacher Brauerei Aktien-Gesellschaft engages in the brewery business in Germany and internationally. The company supplies products, such as pilsner, specialty beers, mixed beer drinks, and alcoholic free beers, as well as mineral water and soft drinks. Kulmbacher Brauerei Aktien-Gesellschaft was founded in 1846 and is based in Kulmbach, Germany.