XMax Inc. (XMAX) - Net Assets
Based on the latest financial reports, XMax Inc. (XMAX) has net assets worth $40.35 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 ($47.14 Million) and total liabilities ($6.79 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 XMAX goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $40.35 Million |
| % of Total Assets | 85.6% |
| Annual Growth Rate | 61.69% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 371.96 |
XMax Inc. - Net Assets Trend (2022–2025)
This chart illustrates how XMax Inc.'s net assets have evolved over time, based on quarterly financial data. See XMAX cash and liquid assets coverage to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for XMax Inc. (2022–2025)
The table below shows the annual net assets of XMax Inc. from 2022 to 2025. For live valuation and market cap data, see XMAX market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $27.96 Million | +795.13% |
| 2024-12-31 | $3.12 Million | +529.29% |
| 2023-12-31 | $496.35K | -92.49% |
| 2022-12-31 | $6.61 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to XMax 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 1670354000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $41.89K | 0.15% |
| Other Comprehensive Income | $504.25K | 1.80% |
| Other Components | $80.82 Million | 289.07% |
| Total Equity | $27.96 Million | 100.00% |
XMax Inc. Competitors by Market Cap
The table below lists competitors of XMax Inc. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Anhui Wanyi Science and Technology Co Ltd
SHG:688600
|
$519.02 Million |
|
Empresa Distribuidora y Comercializadora Norte SA ADR
NYSE:EDN
|
$519.48 Million |
|
AS Merko Ehitus
F:MKS
|
$519.50 Million |
|
Zhejiang Jiaxin Silk Corp Ltd
SHE:002404
|
$519.58 Million |
|
iHeartMedia Inc Class A
NASDAQ:IHRT
|
$518.95 Million |
|
Anhui Quanchai Engine Co Ltd
SHG:600218
|
$518.86 Million |
|
Jiangsu Hengxing New Material
SHG:603276
|
$518.68 Million |
|
Shandong Liancheng Precision Manufacturing Co Ltd Class A
SHE:002921
|
$518.60 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in XMax Inc.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 3,123,514 to 27,959,568, a change of 24,836,054 (795.1%).
- Net loss of 3,418,578 reduced equity.
- New share issuances of 24,667,871 increased equity.
- Other comprehensive income increased equity by 504,247.
- Other factors increased equity by 3,082,514.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-3.42 Million | -12.23% |
| Share Issuances | $24.67 Million | +88.23% |
| Other Comprehensive Income | $504.25K | +1.8% |
| Other Changes | $3.08 Million | +11.02% |
| Total Change | $- | 795.13% |
Book Value vs Market Value Analysis
This analysis compares XMax 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: 6.22x
- 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 1.81x to 6.22x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2022-12-31 | $4.64 | $8.41 | x |
| 2023-12-31 | $0.26 | $8.41 | x |
| 2024-12-31 | $0.43 | $8.41 | x |
| 2025-12-31 | $1.35 | $8.41 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently XMax 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): -12.23%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -20.44%
- • Asset Turnover: 0.47x
- • Equity Multiplier: 1.27x
- Recent ROE (-12.23%) is above the historical average (-501.23%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2022 | -258.65% | -134.18% | 1.11x | 1.74x | $-17.76 Million |
| 2023 | -1556.00% | -69.66% | 1.78x | 12.57x | $-7.77 Million |
| 2024 | -178.06% | -57.41% | 0.98x | 3.18x | $-5.87 Million |
| 2025 | -12.23% | -20.44% | 0.47x | 1.27x | $-6.21 Million |
Industry Comparison
This section compares XMax Inc.'s net assets metrics with peer companies in the Furnishings, Fixtures & Appliances industry.
Industry Context
- Industry: Furnishings, Fixtures & Appliances
- Average net assets among peers: $165,836,466
- Average return on equity (ROE) among peers: -34.49%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| XMax Inc. (XMAX) | $40.35 Million | -258.65% | 0.17x | $518.99 Million |
| American Woodmark Corporation (AMWD) | $153.97 Million | -13.00% | 0.74x | $700.65 Million |
| Aterian Inc (ATER) | $23.38 Million | -269.98% | 5.73x | $11.91 Million |
| Applied UV, Inc. (AUVIQ) | $24.88 Million | -53.06% | 1.35x | $467.00 |
| Bassett Furniture Industries (BSET) | $157.28 Million | 16.98% | 0.44x | $134.92 Million |
| Traeger Inc (COOK) | $606.02 Million | -15.14% | 0.94x | $180.82 Million |
| Crown Crafts Inc (CRWS) | $75.40 Million | 11.94% | 0.64x | $29.10 Million |
| Energy Focu (EFOI) | $-477.00K | 0.00% | 0.00x | $19.74 Million |
| Ethan Allen Interiors Inc (ETD) | $537.70 Million | 14.02% | 0.36x | $544.30 Million |
| FGI Industries Ltd (FGI) | $15.61 Million | -39.33% | 3.45x | $9.54 Million |
| Flexsteel Industries Inc (FLXS) | $64.60 Million | 2.63% | 0.27x | $227.58 Million |
About XMax Inc.
XMax Inc., through its subsidiaries, designs, manufactures, markets, and sells residential and commercial furniture for middle and upper middle-income consumers North America, Hong Kong, and internationally. The company offers upholstered, wood, and metal-based furniture pieces for the living and dining rooms, and bedrooms, as well as home offices. Its products include sofas, chairs, dining table… Read more