VSee Health, Inc. (VSEE) - Net Assets
Based on the latest financial reports, VSee Health, Inc. (VSEE) has net assets worth $5.45 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 ($22.41 Million) and total liabilities ($16.96 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 VSEE tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $5.45 Million |
| % of Total Assets | 24.33% |
| Annual Growth Rate | 54.75% |
| 5-Year Change | -95.19% |
| 10-Year Change | N/A |
| Growth Volatility | 9226.39 |
VSee Health, Inc. - Net Assets Trend (2020–2025)
This chart illustrates how VSee Health, Inc.'s net assets have evolved over time, based on quarterly financial data. See VSEE cash and liquid assets coverage to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for VSee Health, Inc. (2020–2025)
The table below shows the annual net assets of VSee Health, Inc. from 2020 to 2025. For live valuation and market cap data, see VSee Health, Inc. (VSEE) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $5.45 Million | +29591.39% |
| 2024-12-31 | $-18.49K | +99.57% |
| 2023-12-31 | $-4.30 Million | -211386.47% |
| 2022-12-31 | $-2.03K | -100.00% |
| 2021-12-31 | $113.39 Million | +18352.79% |
| 2020-12-31 | $614.49K | -- |
Equity Component Analysis
This analysis shows how different components contribute to VSee Health, 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 7703459600.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $18.94K | 0.35% |
| Other Components | $87.85 Million | 1611.23% |
| Total Equity | $5.45 Million | 100.00% |
VSee Health, Inc. Competitors by Market Cap
The table below lists competitors of VSee Health, Inc. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Witbe Net SA
PA:ALWIT
|
$5.79 Million |
|
Shiva Mills Limited
NSE:SHIVAMILLS
|
$5.80 Million |
|
Kioson Komersial Indonesia Tbk PT
JK:KIOS
|
$5.80 Million |
|
FIREFOX GOLD CORP.
F:FIY
|
$5.80 Million |
|
Nextage Therapeutics Ltd
TA:NXTG
|
$5.79 Million |
|
FRESH FACTORY B.C.
F:Q4Z
|
$5.79 Million |
|
Silver Elephant Mining Corp
TO:ELEF
|
$5.79 Million |
|
Heart Test Laboratories Inc. Common Stock
NASDAQ:HSCS
|
$5.78 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in VSee Health, Inc.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from -18,488 to 5,452,368, a change of 5,470,856.
- Net loss of 14,712,850 reduced equity.
- New share issuances of 1,500,003 increased equity.
- Other factors increased equity by 18,683,703.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-14.71 Million | -269.84% |
| Share Issuances | $1.50 Million | +27.51% |
| Other Changes | $18.68 Million | +342.67% |
| Total Change | $- | % |
Book Value vs Market Value Analysis
This analysis compares VSee Health, 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: 0.45x
- 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 decreased from 1.99x to 0.45x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2020-12-31 | $0.06 | $0.12 | x |
| 2021-12-31 | $11.40 | $0.12 | x |
| 2022-12-31 | $0.04 | $0.12 | x |
| 2023-12-31 | $-0.40 | $0.12 | x |
| 2024-12-31 | $0.00 | $0.12 | x |
| 2025-12-31 | $0.27 | $0.12 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently VSee Health, 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): -269.84%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -100.65%
- • Asset Turnover: 0.65x
- • Equity Multiplier: 4.11x
- Recent ROE (-269.84%) is below the historical average (-76.52%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2020 | 42.13% | 3.80% | 2.50x | 4.44x | $197.43K |
| 2021 | 0.42% | 6.49% | 0.06x | 1.04x | $-10.86 Million |
| 2022 | -231.81% | -13.11% | 2.44x | 7.24x | $-872.28K |
| 2023 | 0.00% | -65.26% | 7.16x | 0.00x | $-3.37 Million |
| 2024 | 0.00% | -553.69% | 0.52x | 0.00x | $-57.70 Million |
| 2025 | -269.84% | -100.65% | 0.65x | 4.11x | $-15.26 Million |
Industry Comparison
This section compares VSee Health, Inc.'s net assets metrics with peer companies in the Health Information Services industry.
Industry Context
- Industry: Health Information Services
- Average net assets among peers: $382,015,314
- Average return on equity (ROE) among peers: -181.89%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| VSee Health, Inc. (VSEE) | $5.45 Million | 42.13% | 3.11x | $5.79 Million |
| Aclarion Inc (ACON) | $-7.08 Million | 0.00% | 0.00x | $1.81 Million |
| American Well Corp (AMWL) | $374.94 Million | -23.25% | 0.33x | $128.02 Million |
| Heartbeam Inc (BEAT) | $2.37 Million | -540.31% | 0.70x | $38.42 Million |
| Bullfrog AI Holdings, Inc. Common Stock (BFRG) | $4.96 Million | -140.89% | 0.12x | $6.51 Million |
| BrightSpring Health Services, Inc. Common Stock (BTSG) | $800.46 Million | 6.22% | 5.89x | $10.63 Billion |
| Carlsmed, Inc. Common Stock (CARL) | $-46.13 Million | 0.00% | 0.00x | $271.31 Million |
| CareCloud, Inc. (CCLD) | $97.93 Million | 2.90% | 0.44x | $93.06 Million |
| Certara Inc (CERT) | $822.13 Million | -6.01% | 0.54x | $959.61 Million |
| CareMax Inc (CMAX) | $61.44 Million | -1112.15% | 9.14x | $381.50 |
| Claritev Corporation (CTEV) | $1.71 Billion | -5.37% | 3.08x | $460.29 Million |
About VSee Health, Inc.
VSee Health, Inc. provides telehealth care solutions in the United States. The company offers iDoc Telehealth solutions that treat and coordinate care for acutely ill patients in the neurointensive care, cardiac intensive care, and intensive care units for stroke, spinal cord, brain trauma, and other neurological conditions. It also provides telehealth software building blocks, such as patient en… Read more