Argan SA (ARG) - Net Assets
Based on the latest financial reports, Argan SA (ARG) has net assets worth €2.45 Billion EUR (≈ $2.86 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€4.36 Billion ≈ $5.10 Billion USD) and total liabilities (€1.91 Billion ≈ $2.24 Billion 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 Argan SA (ARG) tangible equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €2.45 Billion |
| % of Total Assets | 56.14% |
| Annual Growth Rate | 18.12% |
| 5-Year Change | 13.22% |
| 10-Year Change | 534.26% |
| Growth Volatility | 24.14 |
Argan SA - Net Assets Trend (2008–2025)
This chart illustrates how Argan SA's net assets have evolved over time, based on quarterly financial data. See how many days can Argan SA fund operations to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Argan SA (2008–2025)
The table below shows the annual net assets of Argan SA from 2008 to 2025. For live valuation and market cap data, see Argan SA (ARG) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €2.45 Billion ≈ $2.86 Billion |
+8.17% |
| 2024-12-31 | €2.26 Billion ≈ $2.65 Billion |
+17.80% |
| 2023-12-31 | €1.92 Billion ≈ $2.25 Billion |
-14.75% |
| 2022-12-31 | €2.26 Billion ≈ $2.64 Billion |
+4.24% |
| 2021-12-31 | €2.16 Billion ≈ $2.53 Billion |
+46.32% |
| 2020-12-31 | €1.48 Billion ≈ $1.73 Billion |
+19.36% |
| 2019-12-31 | €1.24 Billion ≈ $1.45 Billion |
+89.56% |
| 2018-12-31 | €653.48 Million ≈ $763.98 Million |
+26.23% |
| 2017-12-31 | €517.68 Million ≈ $605.23 Million |
+34.04% |
| 2016-12-31 | €386.20 Million ≈ $451.51 Million |
+32.07% |
| 2015-12-31 | €292.42 Million ≈ $341.87 Million |
+17.01% |
| 2014-12-31 | €249.92 Million ≈ $292.19 Million |
+10.36% |
| 2013-12-31 | €226.46 Million ≈ $264.76 Million |
+11.71% |
| 2012-12-31 | €202.72 Million ≈ $237.00 Million |
+3.95% |
| 2011-12-31 | €195.01 Million ≈ $227.99 Million |
+28.85% |
| 2010-12-31 | €151.35 Million ≈ $176.95 Million |
+33.20% |
| 2009-12-31 | €113.62 Million ≈ $132.84 Million |
-21.35% |
| 2008-12-31 | €144.47 Million ≈ $168.90 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Argan SA'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 99400000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | €51.48 Million | 2.14% |
| Other Comprehensive Income | €2.03 Billion | 84.19% |
| Other Components | €329.27 Million | 13.67% |
| Total Equity | €2.41 Billion | 100.00% |
Argan SA Competitors by Market Cap
The table below lists competitors of Argan SA ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Zhejiang Jingxin Pharmaceutical Co Ltd
SHE:002020
|
$1.58 Billion |
|
Dynamic Holding Co. Ltd.
TW:3715
|
$1.58 Billion |
|
Expro Group Holdings NV
NYSE:XPRO
|
$1.58 Billion |
|
Parade Technologies Ltd
TWO:4966
|
$1.58 Billion |
|
Central Plaza Hotel Public Company Limited
BK:CENTEL
|
$1.58 Billion |
|
LANXESS Aktiengesellschaft
F:LXS
|
$1.58 Billion |
|
Israel Canada
TA:ISCN
|
$1.58 Billion |
|
Polyrocks Chemical Co Ltd
SHG:688669
|
$1.58 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Argan SA's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,226,068,000 to 2,408,171,000, a change of 182,103,000 (8.2%).
- Net income of 245,195,000 contributed positively to equity growth.
- Dividend payments of 65,375,000 reduced retained earnings.
- Other comprehensive income increased equity by 431,231,000.
- Other factors decreased equity by 428,948,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €245.19 Million | +10.18% |
| Dividends Paid | €65.38 Million | -2.71% |
| Other Comprehensive Income | €431.23 Million | +17.91% |
| Other Changes | €-428.95 Million | -17.81% |
| Total Change | €- | 8.18% |
Book Value vs Market Value Analysis
This analysis compares Argan SA'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: 0.64x
- 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 5.43x to 0.64x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2009-12-31 | €11.06 | €60.10 | x |
| 2010-12-31 | €14.93 | €60.10 | x |
| 2011-12-31 | €15.48 | €60.10 | x |
| 2012-12-31 | €14.55 | €60.10 | x |
| 2013-12-31 | €16.05 | €60.10 | x |
| 2014-12-31 | €17.64 | €60.10 | x |
| 2015-12-31 | €20.60 | €60.10 | x |
| 2016-12-31 | €26.84 | €60.10 | x |
| 2017-12-31 | €35.05 | €60.10 | x |
| 2018-12-31 | €40.07 | €60.10 | x |
| 2019-12-31 | €69.91 | €60.10 | x |
| 2020-12-31 | €66.34 | €60.10 | x |
| 2021-12-31 | €94.49 | €60.10 | x |
| 2022-12-31 | €97.14 | €60.10 | x |
| 2023-12-31 | €81.97 | €60.10 | x |
| 2024-12-31 | €90.24 | €60.10 | x |
| 2025-12-31 | €94.08 | €60.10 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Argan SA 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): 10.18%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 97.45%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 1.81x
- Recent ROE (10.18%) is below the historical average (12.69%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2009 | -23.43% | -88.09% | 0.07x | 3.84x | €-37.99 Million |
| 2010 | 26.68% | 106.75% | 0.06x | 3.94x | €25.25 Million |
| 2011 | 10.13% | 45.40% | 0.06x | 3.76x | €257.60K |
| 2012 | 12.85% | 50.11% | 0.06x | 4.19x | €5.77 Million |
| 2013 | 12.50% | 45.70% | 0.06x | 4.25x | €5.65 Million |
| 2014 | 16.33% | 61.61% | 0.07x | 3.87x | €15.82 Million |
| 2015 | 17.00% | 73.71% | 0.06x | 3.60x | €20.46 Million |
| 2016 | 24.66% | 141.96% | 0.06x | 2.88x | €56.63 Million |
| 2017 | 17.71% | 121.20% | 0.05x | 2.75x | €39.91 Million |
| 2018 | 22.12% | 169.25% | 0.06x | 2.35x | €79.18 Million |
| 2019 | 17.36% | 210.65% | 0.03x | 2.38x | €91.16 Million |
| 2020 | 18.86% | 163.04% | 0.05x | 2.30x | €131.01 Million |
| 2021 | 31.43% | 359.85% | 0.04x | 2.12x | €455.55 Million |
| 2022 | 4.29% | 48.04% | 0.04x | 2.00x | €-126.66 Million |
| 2023 | -13.96% | -119.33% | 0.05x | 2.16x | €-452.23 Million |
| 2024 | 11.04% | 102.81% | 0.06x | 1.91x | €23.09 Million |
| 2025 | 10.18% | 97.45% | 0.06x | 1.81x | €4.38 Million |
Industry Comparison
This section compares Argan SA's net assets metrics with peer companies in the REIT - Industrial industry.
Industry Context
- Industry: REIT - Industrial
- Average net assets among peers: $825,241,000
- Average return on equity (ROE) among peers: 10.15%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Argan SA (ARG) | €2.45 Billion | -23.43% | 0.78x | $1.58 Billion |
| Montepino Logistica SOCIMI S.A. (MLMTP) | $825.24 Million | 10.15% | 0.95x | $842.68 Million |
About Argan SA
Argan SA is the only French real estate company specializing in the Development & Rental of Premium Warehouses listed on Euro Next. Building on a unique customer-centric approach, ARGAN develops PREMIUM and pre-let Au0nom labelled warehouses i.e., which produce their own energy for self-consumption for blue-chip companies, with tailor-made services throughout all project phases from the developme… Read more