Airtime Partecipazioni SpA (ALMEX) - Net Assets
Based on the latest financial reports, Airtime Partecipazioni SpA (ALMEX) has net assets worth €25.91 Million EUR (≈ $30.29 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 (€183.52 Million ≈ $214.56 Million USD) and total liabilities (€157.61 Million ≈ $184.27 Million USD). 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 Airtime Partecipazioni SpA (ALMEX) tangible equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €25.91 Million |
| % of Total Assets | 14.12% |
| Annual Growth Rate | 32.88% |
| 5-Year Change | -55.32% |
| 10-Year Change | N/A |
| Growth Volatility | 252.2 |
Airtime Partecipazioni SpA - Net Assets Trend (2019–2025)
This chart illustrates how Airtime Partecipazioni SpA's net assets have evolved over time, based on quarterly financial data. See operational self-sufficiency of Airtime Partecipazioni SpA to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Airtime Partecipazioni SpA (2019–2025)
The table below shows the annual net assets of Airtime Partecipazioni SpA from 2019 to 2025. For live valuation and market cap data, see Airtime Partecipazioni SpA market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €25.91 Million ≈ $30.29 Million |
-36.36% |
| 2024-12-31 | €40.71 Million ≈ $47.60 Million |
-39.09% |
| 2023-12-31 | €66.84 Million ≈ $78.14 Million |
+6.66% |
| 2022-12-31 | €62.67 Million ≈ $73.27 Million |
+8.07% |
| 2021-12-31 | €57.99 Million ≈ $67.80 Million |
+670.73% |
| 2020-12-31 | €7.52 Million ≈ $8.80 Million |
+59.91% |
| 2019-12-31 | €4.71 Million ≈ $5.50 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Airtime Partecipazioni SpA'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 1131.7% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | €57.00 Million | 156.76% |
| Other Components | €5.95 Million | 16.35% |
| Total Equity | €36.36 Million | 100.00% |
Airtime Partecipazioni SpA Competitors by Market Cap
The table below lists competitors of Airtime Partecipazioni SpA ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Urban Jakarta Propertindo Tbk PT
JK:URBN
|
$37.29 Million |
|
REDCO PRP GROUP LTD -05
F:8KI
|
$37.29 Million |
|
Sumi Indo Kabel Tbk
JK:IKBI
|
$37.30 Million |
|
KebNi AB (publ)
ST:KEBNI-B
|
$37.30 Million |
|
Kirklands Inc
NASDAQ:KIRK
|
$37.29 Million |
|
Dabomb Protein
TWO:6578
|
$37.29 Million |
|
Rising Dragon Acquisition Corp. Ordinary Shares
NASDAQ:RDAC
|
$37.27 Million |
|
CZR Resources Ltd
AU:CZR
|
$37.27 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Airtime Partecipazioni SpA's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 47,357,000 to 36,362,000, a change of -10,995,000 (-23.2%).
- Net loss of 17,603,000 reduced equity.
- Other comprehensive income decreased equity by 8,936,000.
- Other factors increased equity by 15,544,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €-17.60 Million | -48.41% |
| Other Comprehensive Income | €-8.94 Million | -24.58% |
| Other Changes | €15.54 Million | +42.75% |
| Total Change | €- | -23.22% |
Book Value vs Market Value Analysis
This analysis compares Airtime Partecipazioni SpA'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: 0.95x
- 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 7.38x to 0.95x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2019-12-31 | €0.83 | €6.09 | x |
| 2020-12-31 | €1.32 | €6.09 | x |
| 2021-12-31 | €10.17 | €6.09 | x |
| 2022-12-31 | €10.99 | €6.09 | x |
| 2023-12-31 | €11.73 | €6.09 | x |
| 2024-12-31 | €8.31 | €6.09 | x |
| 2025-12-31 | €6.38 | €6.09 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Airtime Partecipazioni SpA 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): -48.41%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -14.91%
- • Asset Turnover: 0.64x
- • Equity Multiplier: 5.05x
- Recent ROE (-48.41%) is below the historical average (3.29%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | 42.38% | 1.34% | 7.66x | 4.12x | €1.52 Million |
| 2020 | 52.45% | 2.94% | 4.93x | 3.61x | €3.19 Million |
| 2021 | 5.10% | 2.24% | 1.55x | 1.47x | €-2.84 Million |
| 2022 | 7.07% | 3.15% | 1.45x | 1.55x | €-1.83 Million |
| 2023 | 6.69% | 1.38% | 1.92x | 2.52x | €-2.21 Million |
| 2024 | -42.25% | -27.45% | 0.46x | 3.33x | €-24.75 Million |
| 2025 | -48.41% | -14.91% | 0.64x | 5.05x | €-21.24 Million |
Industry Comparison
This section compares Airtime Partecipazioni SpA's net assets metrics with peer companies in the Telecom Services industry.
Industry Context
- Industry: Telecom Services
- Average net assets among peers: $12,591,316,000
- Average return on equity (ROE) among peers: -14.34%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Airtime Partecipazioni SpA (ALMEX) | €25.91 Million | 42.38% | 6.08x | $37.29 Million |
| Bd Multimedia (ALBDM) | $2.93 Million | 46.28% | 3.03x | $12.97 Million |
| Itissalat Al-Maghrib (IAM) | $20.36 Billion | 46.77% | 0.89x | $8.19 Billion |
| Weaccess Group SA (MLWEA) | $330.00K | -157.58% | 3.00x | $3.33 Million |
| Orange S.A. (ORA) | $30.01 Billion | 7.15% | 2.77x | $46.94 Billion |
About Airtime Partecipazioni SpA
Mexedia Società Per Azioni S.B., together with its subsidiaries, engages in the provision of technologies for the telecommunications and business services sector in Italy. The company offers advanced technological services, such as metaverse, virtual reality, augmented reality, and voice smart assistant solutions. It also provides electronic voice and SMS termination services; and place enterpris… Read more