Lipocine Inc (LPCN) - Net Assets
Based on the latest financial reports, Lipocine Inc (LPCN) has net assets worth $22.83 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 ($25.36 Million) and total liabilities ($2.53 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 Lipocine Inc (LPCN) tangible net worth to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $22.83 Million |
| % of Total Assets | 90.03% |
| Annual Growth Rate | 57.59% |
| 5-Year Change | -68.23% |
| 10-Year Change | -44.35% |
| Growth Volatility | 85.48 |
Lipocine Inc - Net Assets Trend (2011–2025)
This chart illustrates how Lipocine Inc's net assets have evolved over time, based on quarterly financial data. See LPCN defensive asset coverage days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Lipocine Inc (2011–2025)
The table below shows the annual net assets of Lipocine Inc from 2011 to 2025. For live valuation and market cap data, see Lipocine Inc (LPCN) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $14.48 Million | -31.05% |
| 2024-12-31 | $21.00 Million | +3.08% |
| 2023-12-31 | $20.37 Million | -42.84% |
| 2022-12-31 | $35.63 Million | -21.80% |
| 2021-12-31 | $45.57 Million | +197.03% |
| 2020-12-31 | $15.34 Million | +144.00% |
| 2019-12-31 | $6.29 Million | -33.35% |
| 2018-12-31 | $9.43 Million | -50.30% |
| 2017-12-31 | $18.98 Million | -27.05% |
| 2016-12-31 | $26.02 Million | -38.03% |
| 2015-12-31 | $41.99 Million | +59.28% |
| 2014-12-31 | $26.36 Million | -41.19% |
| 2013-12-31 | $44.82 Million | +396209.46% |
| 2012-12-31 | $-11.32K | -145.56% |
| 2011-12-31 | $24.84K | -- |
Equity Component Analysis
This analysis shows how different components contribute to Lipocine 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 20939120500.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $8.94K | 0.06% |
| Other Comprehensive Income | $4.45K | 0.03% |
| Other Components | $223.86 Million | 1546.27% |
| Total Equity | $14.48 Million | 100.00% |
Lipocine Inc Competitors by Market Cap
The table below lists competitors of Lipocine Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Rectitude Holdings Ltd Ordinary Shares
NASDAQ:RECT
|
$19.13 Million |
|
Eastern Metals Ltd
AU:EMS
|
$19.14 Million |
|
Guardian Exploration Inc
V:GX
|
$19.15 Million |
|
Ocado Group PLC
LSE:OCDO
|
$19.15 Million |
|
Seoul Pharma Co. Ltd
KQ:018680
|
$19.12 Million |
|
Precio Fishbone AB (publ)
ST:PRCO-B
|
$19.11 Million |
|
Ba Ria Thermal Power JSC
VN:BTP
|
$19.10 Million |
|
Independence Gold Corp
V:IGO
|
$19.09 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Lipocine Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 20,997,565 to 14,477,416, a change of -6,520,149 (-31.1%).
- Net loss of 9,627,505 reduced equity.
- New share issuances of 2,869,552 increased equity.
- Other comprehensive income decreased equity by 4,693.
- Other factors increased equity by 242,497.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-9.63 Million | -66.5% |
| Share Issuances | $2.87 Million | +19.82% |
| Other Comprehensive Income | $-4.69K | -0.03% |
| Other Changes | $242.50K | +1.68% |
| Total Change | $- | -31.05% |
Book Value vs Market Value Analysis
This analysis compares Lipocine 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: 0.92x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has increased from 0.17x to 0.92x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2011-12-31 | $14.08 | $2.34 | x |
| 2012-12-31 | $-0.04 | $2.34 | x |
| 2013-12-31 | $103.49 | $2.34 | x |
| 2014-12-31 | $35.10 | $2.34 | x |
| 2015-12-31 | $43.33 | $2.34 | x |
| 2016-12-31 | $24.22 | $2.34 | x |
| 2017-12-31 | $16.09 | $2.34 | x |
| 2018-12-31 | $7.51 | $2.34 | x |
| 2019-12-31 | $4.13 | $2.34 | x |
| 2020-12-31 | $4.68 | $2.34 | x |
| 2021-12-31 | $8.84 | $2.34 | x |
| 2022-12-31 | $6.78 | $2.34 | x |
| 2023-12-31 | $3.87 | $2.34 | x |
| 2024-12-31 | $3.87 | $2.34 | x |
| 2025-12-31 | $2.54 | $2.34 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Lipocine 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): -66.50%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -487.06%
- • Asset Turnover: 0.12x
- • Equity Multiplier: 1.17x
- Recent ROE (-66.50%) is below the historical average (-66.26%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2011 | -20.78% | -0.17% | 95.21x | 1.31x | $-7.65K |
| 2012 | 0.00% | -0.99% | 13362.22x | 0.00x | $-75.52K |
| 2013 | -23.63% | 0.00% | 0.00x | 1.03x | $-15.07 Million |
| 2014 | -77.29% | 0.00% | 0.00x | 1.06x | $-23.01 Million |
| 2015 | -43.37% | 0.00% | 0.00x | 1.08x | $-22.41 Million |
| 2016 | -72.92% | 0.00% | 0.00x | 1.05x | $-21.57 Million |
| 2017 | -110.55% | 0.00% | 0.00x | 1.33x | $-22.88 Million |
| 2018 | -123.60% | -2724.11% | 0.02x | 2.21x | $-12.60 Million |
| 2019 | -206.87% | -7883.72% | 0.01x | 3.13x | $-13.64 Million |
| 2020 | -136.65% | -52412047500.00% | 0.00x | 1.65x | $-22.50 Million |
| 2021 | -1.39% | -3.93% | 0.31x | 1.15x | $-5.19 Million |
| 2022 | -30.19% | -2151.73% | 0.01x | 1.05x | $-14.32 Million |
| 2023 | -80.28% | 0.00% | -0.12x | 1.13x | $-18.39 Million |
| 2024 | 0.04% | 0.07% | 0.50x | 1.07x | $-2.09 Million |
| 2025 | -66.50% | -487.06% | 0.12x | 1.17x | $-11.08 Million |
Industry Comparison
This section compares Lipocine 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 |
|---|---|---|---|---|
| Lipocine Inc (LPCN) | $22.83 Million | -20.78% | 0.11x | $19.13 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 Lipocine Inc
Lipocine Inc., a clinical-stage biopharmaceutical company, engages in the research and development for the delivery of drugs using its proprietary delivery technology. The company offers TLANDO, an oral testosterone replacement therapy (TRT) comprising testosterone undecanoate. It also develops LPCN 1154 (BRLIZIO), an oral neuro-steroid in a Phase 3 pivotal trial for postpartum depression; LPCN 1… Read more