First Tracks Biotherapeutics (TRAX) - Net Assets
Based on the latest financial reports, First Tracks Biotherapeutics (TRAX) has net assets worth $168.80 Million USD as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($183.14 Million) and total liabilities ($14.34 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. See First Tracks Biotherapeutics (TRAX) net asset quality to measure how much of total assets are equity-financed.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $168.80 Million |
| % of Total Assets | 92.17% |
| Annual Growth Rate | -16.24% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 11.07 |
First Tracks Biotherapeutics - Net Assets Trend (2023–2025)
This chart illustrates how First Tracks Biotherapeutics's net assets have evolved over time, based on quarterly financial data. Also explore TRAX net assets growth trend to track the company's year-over-year net asset growth rate.
Annual Net Assets for First Tracks Biotherapeutics (2023–2025)
The table below shows the annual net assets of First Tracks Biotherapeutics from 2023 to 2025. For live market cap and overall valuation, see TRAX company net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $287.49 Million | -26.59% |
| 2024-12-31 | $391.60 Million | -4.45% |
| 2023-12-31 | $409.85 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to First Tracks Biotherapeutics'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 0.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $287.51 Million | 100.01% |
| Other Comprehensive Income | $-24.00K | -0.01% |
| Total Equity | $287.49 Million | 100.00% |
First Tracks Biotherapeutics Competitors by Market Cap
The table below lists competitors of First Tracks Biotherapeutics ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Thinking Electronic Industrial Co Ltd
TW:2428
|
$1.14 Billion |
|
Xiamen Wanli Stone Stock Co Ltd
SHE:002785
|
$1.14 Billion |
|
Yibin Tianyuan Group Co Ltd
SHE:002386
|
$1.14 Billion |
|
Lindsay Corporation
NYSE:LNN
|
$1.14 Billion |
|
SeAH Bestee
KO:001430
|
$1.14 Billion |
|
Hanza AB
ST:HANZA
|
$1.14 Billion |
|
Trupanion Inc
NASDAQ:TRUP
|
$1.14 Billion |
|
Wuxi Dk Electronic Materials Co Ltd
SHE:300842
|
$1.14 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in First Tracks Biotherapeutics's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 391,596,000 to 287,490,000, a change of -104,106,000 (-26.6%).
- Net loss of 166,087,000 reduced equity.
- Other comprehensive income decreased equity by 329,000.
- Other factors increased equity by 62,310,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-166.09 Million | -57.77% |
| Other Comprehensive Income | $-329.00K | -0.11% |
| Other Changes | $62.31 Million | +21.67% |
| Total Change | $- | -26.59% |
Book Value vs Market Value Analysis
This analysis compares First Tracks Biotherapeutics'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: 3.85x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has increased from 2.70x to 3.85x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2023-12-31 | $11.79 | $31.85 | x |
| 2024-12-31 | $11.27 | $31.85 | x |
| 2025-12-31 | $8.27 | $31.85 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently First Tracks Biotherapeutics 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): -57.77%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.00%
- • Asset Turnover: 0.00x
- • Equity Multiplier: 1.15x
- Recent ROE (-57.77%) is below the historical average (-41.83%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2023 | -25.90% | 0.00% | 0.00x | 1.08x | $-147.13 Million |
| 2024 | -41.80% | 0.00% | 0.00x | 1.13x | $-202.86 Million |
| 2025 | -57.77% | 0.00% | 0.00x | 1.15x | $-194.84 Million |
Industry Comparison
This section compares First Tracks Biotherapeutics's net assets metrics with peer companies in the Biotechnology industry.
Industry Context
- Industry: Biotechnology
- Average net assets among peers: $142,965,128
- Average return on equity (ROE) among peers: -89.55%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| First Tracks Biotherapeutics (TRAX) | $168.80 Million | -25.90% | 0.08x | $1.14 Billion |
| Aardvark Therapeutics, Inc. Common Stock (AARD) | $-27.92 Million | 0.00% | 0.00x | $103.64 Million |
| Abcellera Biologics Inc (ABCL) | $1.03 Billion | -0.22% | 0.29x | $3.53 Billion |
| Abeona Therapeutics Inc (ABEO) | $3.60 Million | -91.89% | 0.28x | $282.49 Million |
| Acumen Pharmaceuticals Inc (ABOS) | $188.78 Million | -22.70% | 0.04x | $154.57 Million |
| Abpro Holdings, Inc. (ABP) | $-75.73 Million | 0.00% | 0.00x | $2.00 Million |
| Absci Corp (ABSI) | $179.13 Million | -57.56% | 0.19x | $1.41 Billion |
| Arbutus Biopharma Corp (ABUS) | $106.02 Million | -68.71% | 0.36x | $836.01 Million |
| ABVC Biopharma Inc (ABVC) | $35.27K | -72.00% | 1.50x | $26.65 Million |
| Abivax SA American Depositary Shares (ABVX) | $17.90 Million | -209.78% | 2.98x | $7.69 Billion |
| ACADIA Pharmaceuticals Inc (ACAD) | $12.11 Million | -372.67% | 3.10x | $3.41 Billion |
About First Tracks Biotherapeutics
First Tracks Biotherapeutics, Inc. operates a clinical-stage biotechnology company focused on delivering immunology therapeutics for autoimmune and inflammatory diseases in United States. Its products includes ANB033, a novel anti-CD122 antagonist that targets the shared beta subunit of the IL-15 and IL-2 receptors; Rosnilimab, a antibody engineered to selectively deplete pathogenic T cells in bo… Read more