Adagene Inc (ADAG) - Net Assets
Based on the latest financial reports, Adagene Inc (ADAG) has net assets worth $35.35 Million USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($78.26 Million) and total liabilities ($42.91 Million). 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 tangible net worth ratio of Adagene Inc to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $35.35 Million |
| % of Total Assets | 45.17% |
| Annual Growth Rate | N/A |
| 5-Year Change | -77.42% |
| 10-Year Change | N/A |
| Growth Volatility | 11.31 |
Adagene Inc - Net Assets Trend (2018–2025)
This chart illustrates how Adagene Inc's net assets have evolved over time, based on quarterly financial data. See Adagene Inc (ADAG) defensive interval to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Adagene Inc (2018–2025)
The table below shows the annual net assets of Adagene Inc from 2018 to 2025. For live valuation and market cap data, see Adagene Inc stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $35.35 Million | -30.03% |
| 2024-12-31 | $50.52 Million | -28.40% |
| 2023-12-31 | $70.56 Million | -15.08% |
| 2022-12-31 | $83.09 Million | -46.93% |
| 2021-12-31 | $156.56 Million | +275.14% |
| 2020-12-31 | $-89.39 Million | -56.80% |
| 2019-12-31 | $-57.01 Million | -38.96% |
| 2018-12-31 | $-41.03 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Adagene Inc'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 28195926300.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $5.92K | 0.02% |
| Other Comprehensive Income | $-1.91 Million | -5.42% |
| Other Components | $366.04 Million | 1035.50% |
| Total Equity | $35.35 Million | 100.00% |
Adagene Inc Competitors by Market Cap
The table below lists competitors of Adagene Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
ARKO Petroleum Corp.
NASDAQ:APC
|
$233.30 Million |
|
Pennar Industries Limited
NSE:PENIND
|
$233.33 Million |
|
Partron Co. Ltd
KQ:091700
|
$233.33 Million |
|
Eaton Vance California MBF
NYSE MKT:EVM
|
$233.41 Million |
|
Peña Verde S.A.B
MX:PV
|
$233.18 Million |
|
Runway Growth Finance Corp
NASDAQ:RWAY
|
$233.13 Million |
|
Vecima Networks Inc.
TO:VCM
|
$233.05 Million |
|
Cellectis
PA:ALCLS
|
$233.04 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Adagene Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 50,523,844 to 35,349,547, a change of -15,174,297 (-30.0%).
- Net loss of 17,609,413 reduced equity.
- New share issuances of 16,550,000 increased equity.
- Other comprehensive income decreased equity by 1,387,928.
- Other factors decreased equity by 12,726,956.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-17.61 Million | -49.82% |
| Share Issuances | $16.55 Million | +46.82% |
| Other Comprehensive Income | $-1.39 Million | -3.93% |
| Other Changes | $-12.73 Million | -36.0% |
| Total Change | $- | -30.03% |
Book Value vs Market Value Analysis
This analysis compares Adagene Inc'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: 3.77x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2018-12-31 | $-4.23 | $3.53 | x |
| 2019-12-31 | $-1.61 | $3.53 | x |
| 2020-12-31 | $-3.19 | $3.53 | x |
| 2021-12-31 | $4.89 | $3.53 | x |
| 2022-12-31 | $2.40 | $3.53 | x |
| 2023-12-31 | $2.01 | $3.53 | x |
| 2024-12-31 | $1.40 | $3.53 | x |
| 2025-12-31 | $0.94 | $3.53 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Adagene Inc 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): -49.82%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -229.56%
- • Asset Turnover: 0.10x
- • Equity Multiplier: 2.21x
- Recent ROE (-49.82%) is below the historical average (-35.73%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2018 | 0.00% | -974.03% | 0.03x | 0.00x | $-10.62 Million |
| 2019 | 0.00% | -3602.89% | 0.00x | 0.00x | $-11.59 Million |
| 2020 | 0.00% | -3424.06% | 0.01x | 0.00x | $-7.50 Million |
| 2021 | -46.74% | -719.18% | 0.05x | 1.21x | $-88.83 Million |
| 2022 | -96.25% | -860.59% | 0.06x | 1.83x | $-88.28 Million |
| 2023 | -26.85% | -104.61% | 0.16x | 1.64x | $-26.00 Million |
| 2024 | -66.16% | -32386.45% | 0.00x | 1.77x | $-38.48 Million |
| 2025 | -49.82% | -229.56% | 0.10x | 2.21x | $-21.14 Million |
Industry Comparison
This section compares Adagene Inc's net assets metrics with peer companies in the Biotechnology industry.
Industry Context
- Industry: Biotechnology
- Average net assets among peers: $155,285,360
- Average return on equity (ROE) among peers: -101.11%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Adagene Inc (ADAG) | $35.35 Million | 0.00% | 1.21x | $233.24 Million |
| Aardvark Therapeutics, Inc. Common Stock (AARD) | $-34.80 Million | 0.00% | 0.00x | $83.17 Million |
| Abcellera Biologics Inc (ABCL) | $830.51 Million | 14.32% | 0.21x | $1.61 Billion |
| Abeona Therapeutics Inc (ABEO) | $-26.99 Million | 0.00% | 0.00x | $321.39 Million |
| Acumen Pharmaceuticals Inc (ABOS) | $266.97 Million | -19.62% | 0.16x | $155.29 Million |
| Abpro Holdings, Inc. (ABP) | $3.07 Million | -479.81% | 1.57x | $2.00 Million |
| Absci Corp (ABSI) | $179.13 Million | -57.56% | 0.19x | $1.01 Billion |
| Arbutus Biopharma Corp (ABUS) | $182.50 Million | -46.25% | 0.30x | $831.63 Million |
| ABVC Biopharma Inc (ABVC) | $4.59 Million | -357.76% | 1.38x | $35.10 Million |
| Abivax SA American Depositary Shares (ABVX) | $33.94 Million | -14.97% | 0.12x | $7.98 Billion |
| ACADIA Pharmaceuticals Inc (ACAD) | $113.93 Million | -49.49% | 0.18x | $3.66 Billion |
About Adagene Inc
Adagene Inc., a clinical stage biotechnology company, engages in the research, development, and production of monoclonal antibody drugs for cancers in the People's Republic of China. Its lead product candidate is the ADG126, a masked fully-human anti-CTLA-4 mAb which is in phase 1b/2 clinical development for the treatment of cancer. The company also develops ADG116, a fully human anti-CTLA-4 anti… Read more