COVER Corporation
COVER Corporation distribute videos and music through VTubers distribution platform in Japan. It also develops characters and anime-look avatars; plans and produces events; and offers video content, such as live streams, music videos, and animations through video distribution, as well as membership subscriptions, advertising, and promotions services. In addition, the company is involved in the el… Read more
COVER Corporation (COVCF) - Net Assets
Latest net assets as of September 2025: $18.95 Billion USD
Based on the latest financial reports, COVER Corporation (COVCF) has net assets worth $18.95 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($33.08 Billion) and total liabilities ($14.13 Billion). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $18.95 Billion |
| % of Total Assets | 57.27% |
| Annual Growth Rate | 66.35% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 20.44 |
COVER Corporation - Net Assets Trend (2021–2025)
This chart illustrates how COVER Corporation's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for COVER Corporation (2021–2025)
The table below shows the annual net assets of COVER Corporation from 2021 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | $16.95 Billion | +52.08% |
| 2024-03-31 | $11.14 Billion | +59.03% |
| 2023-03-31 | $7.01 Billion | +102.64% |
| 2022-03-31 | $3.46 Billion | +56.23% |
| 2021-03-31 | $2.21 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to COVER Corporation'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 grown by 1029.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $14.76 Billion | 87.08% |
| Other Components | $2.19 Billion | 12.92% |
| Total Equity | $16.95 Billion | 100.00% |
COVER Corporation Competitors by Market Cap
The table below lists competitors of COVER Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shenzhen Hirisun Technology Inc
SHE:300277
|
$558.39 Million |
|
Atresmedia Corporación de Medios de Comunicación S.A
PINK:ATVDY
|
$558.43 Million |
|
ArriVent BioPharma, Inc. Common Stock
NASDAQ:AVBP
|
$558.63 Million |
|
Guangan
SHG:600979
|
$558.73 Million |
|
Young & Co.'s Brewery P.L.C.
PINK:YCSBF
|
$557.84 Million |
|
Elkem ASA
OTCGREY:ELKEF
|
$557.68 Million |
|
Nanjing Kangni Mechanical & Electrical Co Ltd
SHG:603111
|
$557.19 Million |
|
Create Technology & Science Co Ltd
SHE:000551
|
$557.14 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in COVER Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 11,142,000,000 to 16,945,000,000, a change of 5,803,000,000 (52.1%).
- Net income of 5,559,000,000 contributed positively to equity growth.
- New share issuances of 244,000,000 increased equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $5.56 Billion | +32.81% |
| Share Issuances | $244.00 Million | +1.44% |
| Total Change | $- | 52.08% |
Book Value vs Market Value Analysis
This analysis compares COVER Corporation'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: 0.06x
- 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 0.42x to 0.06x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2021-03-31 | $36.20 | $15.04 | x |
| 2022-03-31 | $56.56 | $15.04 | x |
| 2023-03-31 | $114.62 | $15.04 | x |
| 2024-03-31 | $182.28 | $15.04 | x |
| 2025-03-31 | $258.11 | $15.04 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently COVER Corporation 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): 32.81%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 12.81%
- • Asset Turnover: 1.31x
- • Equity Multiplier: 1.95x
- Recent ROE (32.81%) is below the historical average (39.38%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2021 | 55.16% | 21.32% | 1.63x | 1.59x | $999.45 Million |
| 2022 | 35.99% | 9.11% | 1.66x | 2.38x | $898.72 Million |
| 2023 | 35.80% | 12.26% | 1.29x | 2.27x | $1.81 Billion |
| 2024 | 37.13% | 13.71% | 1.33x | 2.04x | $3.02 Billion |
| 2025 | 32.81% | 12.81% | 1.31x | 1.95x | $3.86 Billion |
Industry Comparison
This section compares COVER Corporation's net assets metrics with peer companies in the Software - Application industry.
Industry Context
- Industry: Software - Application
- Average net assets among peers: $1,558,090,989
- Average return on equity (ROE) among peers: -47.81%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| COVER Corporation (COVCF) | $18.95 Billion | 55.16% | 0.75x | $558.04 Million |
| Abaxx Technologies Inc (ABXXF) | $42.03 Million | -128.66% | 0.23x | $201.28 Million |
| Acceleware Ltd (ACWRF) | $2.15 Million | -4.58% | 1.86x | $8.62 Million |
| Adobe Systems Incorporated (ADBE) | $6.67 Billion | 12.49% | 0.51x | $104.01 Billion |
| Adcore Inc (ADCOF) | $9.73 Million | -22.96% | 0.49x | $3.03 Million |
| ADEIA CORP (ADEA) | $618.15 Million | -0.05% | 1.00x | $2.50 Billion |
| Automatic Data Processing Inc (ADP) | $6.19 Billion | 22.71% | 4.21x | $84.26 Billion |
| Autodesk Inc (ADSK) | $2.04 Billion | 12.11% | 1.11x | $48.93 Billion |
| Allied Security Innovations Inc (ADSV) | $445.50K | -270.60% | 3.60x | $0.93 |
| AudioEye Inc (AEYE) | $10.59 Million | -98.53% | 1.31x | $49.31 Million |
| Affinity Networks Inc (AFFN) | $-470.19K | 0.00% | 0.00x | $0.97 |