Frey SA (FREY) - Net Assets
Based on the latest financial reports, Frey SA (FREY) has net assets worth €1.15 Billion EUR (≈ $1.34 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 (€3.22 Billion ≈ $3.76 Billion USD) and total liabilities (€2.07 Billion ≈ $2.42 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. Also explore total assets of Frey SA for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €1.15 Billion |
| % of Total Assets | 35.59% |
| Annual Growth Rate | 22.92% |
| 5-Year Change | 18.57% |
| 10-Year Change | 430.6% |
| Growth Volatility | 21.8 |
Frey SA - Net Assets Trend (2003–2025)
This chart illustrates how Frey SA's net assets have evolved over time, based on quarterly financial data. Check how tangible is Frey SA's equity to evaluate the tangible quality of the company's equity base.
Annual Net Assets for Frey SA (2003–2025)
The table below shows the annual net assets of Frey SA from 2003 to 2025. For live valuation and market cap data, see Frey SA (FREY) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €1.15 Billion ≈ $1.34 Billion |
+4.18% |
| 2024-12-31 | €1.10 Billion ≈ $1.29 Billion |
-1.50% |
| 2023-12-31 | €1.12 Billion ≈ $1.31 Billion |
+6.00% |
| 2022-12-31 | €1.05 Billion ≈ $1.23 Billion |
+9.00% |
| 2021-12-31 | €966.28 Million ≈ $1.13 Billion |
+17.49% |
| 2020-12-31 | €822.40 Million ≈ $961.47 Million |
+4.20% |
| 2019-12-31 | €789.21 Million ≈ $922.67 Million |
+31.42% |
| 2018-12-31 | €600.53 Million ≈ $702.08 Million |
+63.70% |
| 2017-12-31 | €366.84 Million ≈ $428.87 Million |
+69.89% |
| 2016-12-31 | €215.93 Million ≈ $252.44 Million |
+14.25% |
| 2015-12-31 | €189.00 Million ≈ $220.96 Million |
+31.87% |
| 2014-12-31 | €143.32 Million ≈ $167.56 Million |
+6.30% |
| 2013-12-31 | €134.82 Million ≈ $157.62 Million |
+15.75% |
| 2012-12-31 | €116.48 Million ≈ $136.18 Million |
+11.78% |
| 2011-12-31 | €104.20 Million ≈ $121.82 Million |
+47.67% |
| 2010-12-31 | €70.56 Million ≈ $82.50 Million |
+18.77% |
| 2009-12-31 | €59.41 Million ≈ $69.46 Million |
+29.21% |
| 2008-12-31 | €45.98 Million ≈ $53.76 Million |
+35.05% |
| 2007-12-31 | €34.05 Million ≈ $39.81 Million |
+16.84% |
| 2006-12-31 | €29.14 Million ≈ $34.07 Million |
+19.07% |
| 2005-12-31 | €24.47 Million ≈ $28.61 Million |
+79.22% |
| 2004-12-31 | €13.66 Million ≈ $15.97 Million |
+11.68% |
| 2003-12-31 | €12.23 Million ≈ $14.30 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Frey 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 decreased by 100.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | €1.15 Billion | 100.00% |
| Total Equity | €1.15 Billion | 100.00% |
Frey SA Competitors by Market Cap
The table below lists competitors of Frey SA ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Varroc Engineering Limited
NSE:VARROC
|
$1.09 Billion |
|
Zhejiang Southeast Space Frame Co Ltd
SHE:002135
|
$1.09 Billion |
|
Banpu Power Public Company Limited
BK:BPP
|
$1.09 Billion |
|
International General Insurance Holdings Ltd
NASDAQ:IGIC
|
$1.09 Billion |
|
ZYNP Corp
SHE:002448
|
$1.09 Billion |
|
CHINA FOODS UNSP.ADR/20
F:CFH0
|
$1.09 Billion |
|
Usinas Siderúrgicas de Minas Gerais S.A
SA:USIM3
|
$1.09 Billion |
|
Sunflower Pharmaceuticals Group Co Ltd
SHE:002737
|
$1.09 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Frey SA's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,047,829,000 to 1,145,700,000, a change of 97,871,000 (9.3%).
- Net income of 77,400,000 contributed positively to equity growth.
- Dividend payments of 62,100,000 reduced retained earnings.
- Share repurchases of 7,100,000 reduced equity.
- Other comprehensive income decreased equity by 519,113,999.
- Other factors increased equity by 608,784,999.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €77.40 Million | +6.76% |
| Dividends Paid | €62.10 Million | -5.42% |
| Share Repurchases | €7.10 Million | -0.62% |
| Other Comprehensive Income | €-519.11 Million | -45.31% |
| Other Changes | €608.78 Million | +53.14% |
| Total Change | €- | 9.34% |
Book Value vs Market Value Analysis
This analysis compares Frey 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: 0.99x
- 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 19.77x to 0.99x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2003-12-31 | €1.77 | €35.00 | x |
| 2004-12-31 | €1.98 | €35.00 | x |
| 2006-12-31 | €3.41 | €35.00 | x |
| 2008-12-31 | €6.45 | €35.00 | x |
| 2009-12-31 | €8.47 | €35.00 | x |
| 2010-12-31 | €10.02 | €35.00 | x |
| 2011-12-31 | €13.44 | €35.00 | x |
| 2012-12-31 | €11.55 | €35.00 | x |
| 2013-12-31 | €13.50 | €35.00 | x |
| 2014-12-31 | €15.89 | €35.00 | x |
| 2015-12-31 | €20.42 | €35.00 | x |
| 2016-12-31 | €21.04 | €35.00 | x |
| 2017-12-31 | €29.33 | €35.00 | x |
| 2018-12-31 | €35.22 | €35.00 | x |
| 2019-12-31 | €38.79 | €35.00 | x |
| 2020-12-31 | €30.34 | €35.00 | x |
| 2021-12-31 | €35.51 | €35.00 | x |
| 2022-12-31 | €34.24 | €35.00 | x |
| 2023-12-31 | €37.15 | €35.00 | x |
| 2024-12-31 | €32.86 | €35.00 | x |
| 2025-12-31 | €35.53 | €35.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Frey 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): 6.76%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 33.41%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 2.81x
- Recent ROE (6.76%) is below the historical average (11.36%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2003 | 10.16% | 10.05% | 0.54x | 1.86x | €20.09K |
| 2004 | 10.45% | 15.75% | 0.27x | 2.50x | €62.07K |
| 2006 | 10.10% | 7.12% | 0.30x | 4.76x | €24.60K |
| 2008 | 6.55% | 8.46% | 0.40x | 1.91x | €-1.56 Million |
| 2009 | 26.66% | 67.40% | 0.18x | 2.21x | €9.89 Million |
| 2010 | 19.01% | 27.63% | 0.30x | 2.29x | €6.31 Million |
| 2011 | 19.46% | 70.64% | 0.10x | 2.68x | €9.09 Million |
| 2012 | 17.50% | 45.57% | 0.12x | 3.11x | €8.12 Million |
| 2013 | 18.69% | 81.95% | 0.07x | 3.14x | €11.01 Million |
| 2014 | 10.51% | 42.58% | 0.08x | 2.96x | €691.50K |
| 2015 | 10.82% | 51.79% | 0.09x | 2.36x | €1.56 Million |
| 2016 | 15.16% | 123.27% | 0.05x | 2.49x | €11.14 Million |
| 2017 | 16.66% | 208.08% | 0.04x | 2.08x | €24.43 Million |
| 2018 | 7.51% | 79.56% | 0.06x | 1.64x | €-14.96 Million |
| 2019 | 6.39% | 70.76% | 0.05x | 1.77x | €-28.08 Million |
| 2020 | 0.31% | 2.21% | 0.07x | 2.03x | €-74.45 Million |
| 2021 | 7.21% | 64.64% | 0.06x | 1.94x | €-25.29 Million |
| 2022 | 13.07% | 101.60% | 0.06x | 2.07x | €30.37 Million |
| 2023 | 1.80% | 12.60% | 0.06x | 2.29x | €-85.79 Million |
| 2024 | 3.82% | 20.91% | 0.08x | 2.40x | €-64.78 Million |
| 2025 | 6.76% | 33.41% | 0.07x | 2.81x | €-37.17 Million |
Industry Comparison
This section compares Frey SA's net assets metrics with peer companies in the REIT - Retail industry.
Industry Context
- Industry: REIT - Retail
- Average net assets among peers: $5,844,273,500
- Average return on equity (ROE) among peers: 5.65%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Frey SA (FREY) | €1.15 Billion | 10.16% | 1.81x | $1.09 Billion |
| Carmila SA (CARM) | $39.04 Million | 4.23% | 0.06x | $2.32 Billion |
| Klepierre SA (LI) | $10.46 Billion | 3.97% | 0.96x | $9.92 Billion |
| Mercialys SA (MERY) | $879.54 Million | 9.19% | 2.25x | $1.09 Billion |
| Patrimoine et Commerce SA (PAT) | $366.34 Million | 8.05% | 1.13x | $382.37 Million |
| Selectirente (SELER) | $373.41 Million | 7.66% | 0.60x | $351.62 Million |
| Unibail-Rodamco-Westfield (URW) | $22.95 Billion | 0.78% | 1.38x | $14.42 Billion |
About Frey SA
Frey SA engages in developing, owning, and managing commercial real estate assets primarily located in France. The company primarily operates environmental retail parks. As of December 31, 2010, its assets included 62,000 square meters. The company was formerly known as Immobiliere Frey SA and changed its name to Frey SA in June 2009. Frey SA was founded in 1983 and is based in Reims, France.