Frmo Corp
FRMO Corporation, through Horizon Kinetics, LLC, operates as an investment advisory and independent research company in the United States. The company offers in-depth analysis of information-poor, and under-researched companies and strategies to identify complex or overlooked situations. It serves institutional investors. The company was formerly known as FRM Nexus, Inc. and changed its name to F… Read more
Frmo Corp (FRMO) - Net Assets
Latest net assets as of November 2025: $529.95 Million USD
Based on the latest financial reports, Frmo Corp (FRMO) has net assets worth $529.95 Million USD as of November 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($611.74 Million) and total liabilities ($81.78 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $529.95 Million |
| % of Total Assets | 86.63% |
| Annual Growth Rate | 46.22% |
| 5-Year Change | 117.85% |
| 10-Year Change | 466.66% |
| Growth Volatility | 3890.43 |
Frmo Corp - Net Assets Trend (2000–2025)
This chart illustrates how Frmo Corp's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Frmo Corp (2000–2025)
The table below shows the annual net assets of Frmo Corp from 2000 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-05-31 | $651.19 Million | +61.47% |
| 2024-05-31 | $403.28 Million | +41.94% |
| 2023-05-31 | $284.11 Million | -9.61% |
| 2022-05-31 | $314.33 Million | +5.16% |
| 2021-05-31 | $298.91 Million | +84.65% |
| 2020-05-31 | $161.88 Million | -15.52% |
| 2019-05-31 | $191.63 Million | +19.47% |
| 2018-05-31 | $160.40 Million | +26.01% |
| 2017-05-31 | $127.29 Million | +10.77% |
| 2016-05-31 | $114.92 Million | +12.48% |
| 2015-05-31 | $102.16 Million | +8.63% |
| 2014-05-31 | $94.05 Million | 0.00% |
| 2013-05-31 | $94.05 Million | +12.82% |
| 2012-05-31 | $83.37 Million | +17026.42% |
| 2004-05-31 | $486.77K | -43.09% |
| 2003-05-31 | $855.36K | +361.01% |
| 2002-05-31 | $185.54K | +34.03% |
| 2001-05-31 | $138.43K | +183.53% |
| 2000-05-31 | $48.82K | -- |
Equity Component Analysis
This analysis shows how different components contribute to Frmo Corp'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 30759067900.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (May 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $307.59 Million | 87.14% |
| Common Stock | $44.02K | 0.01% |
| Other Components | $45.35 Million | 12.85% |
| Total Equity | $352.98 Million | 100.00% |
Frmo Corp Competitors by Market Cap
The table below lists competitors of Frmo Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Diesel & Motor Engineering PLC
CM:DIMON0000
|
$74.54K |
|
ALLOT COMMUN
BE:AG6
|
$74.61K |
|
AMBAC FINL GRP (FGPN.SG)
STU:FGPN
|
$74.62K |
|
Margo Caribe Inc
PINK:MRGO
|
$74.63K |
|
Samsung Climate Control Co. Ltd.
KQ:006660
|
$74.49K |
|
WEBIS HLDGS PLC LS -01
F:BJK
|
$74.49K |
|
Aristocrat Group Corp
PINK:ASCC
|
$74.46K |
|
GCADX
NASDAQ:GCADX
|
$74.42K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Frmo Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 242,136,692 to 352,984,614, a change of 110,847,922 (45.8%).
- Net income of 107,547,576 contributed positively to equity growth.
- Dividend payments of 1,150,000 reduced retained earnings.
- Other comprehensive income decreased equity by 403,281,917.
- Other factors increased equity by 407,732,263.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $107.55 Million | +30.47% |
| Dividends Paid | $1.15 Million | -0.33% |
| Other Comprehensive Income | $-403.28 Million | -114.25% |
| Other Changes | $407.73 Million | +115.51% |
| Total Change | $- | 45.78% |
Book Value vs Market Value Analysis
This analysis compares Frmo Corp'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: 1.01x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 299.87x to 1.01x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2000-05-31 | $0.03 | $8.06 | x |
| 2001-05-31 | $0.07 | $8.06 | x |
| 2002-05-31 | $0.05 | $8.06 | x |
| 2003-05-31 | $0.22 | $8.06 | x |
| 2004-05-31 | $0.10 | $8.06 | x |
| 2012-05-31 | $2.13 | $8.06 | x |
| 2013-05-31 | $2.39 | $8.06 | x |
| 2014-05-31 | $2.15 | $8.06 | x |
| 2016-05-31 | $2.62 | $8.06 | x |
| 2017-05-31 | $2.89 | $8.06 | x |
| 2018-05-31 | $3.65 | $8.06 | x |
| 2019-05-31 | $4.35 | $8.06 | x |
| 2020-05-31 | $2.61 | $8.06 | x |
| 2021-05-31 | $4.04 | $8.06 | x |
| 2022-05-31 | $4.12 | $8.06 | x |
| 2023-05-31 | $3.85 | $8.06 | x |
| 2024-05-31 | $5.50 | $8.06 | x |
| 2025-05-31 | $8.02 | $8.06 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Frmo Corp 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): 30.47%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 40.84%
- • Asset Turnover: 0.37x
- • Equity Multiplier: 2.02x
- Recent ROE (30.47%) is above the historical average (10.55%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | -1.13% | -15.31% | 0.07x | 1.08x | $-5.43K |
| 2001 | -0.40% | -15.31% | 0.02x | 1.16x | $-14.39K |
| 2002 | 20.54% | 36.73% | 0.46x | 1.21x | $19.55K |
| 2003 | 7.39% | 39.51% | 0.14x | 1.35x | $-22.34K |
| 2004 | 12.98% | 39.51% | 0.30x | 1.11x | $14.52K |
| 2012 | 12.38% | 69.14% | 0.16x | 1.15x | $1.98 Million |
| 2013 | 4.12% | 60.64% | 0.06x | 1.17x | $-5.53 Million |
| 2014 | 4.12% | 50.95% | 0.07x | 1.17x | $-5.53 Million |
| 2015 | 4.80% | 61.75% | 0.07x | 1.16x | $-5.31 Million |
| 2016 | 0.86% | 15.39% | 0.06x | 1.00x | $-10.50 Million |
| 2017 | 5.43% | 202.35% | 0.03x | 1.00x | $-5.82 Million |
| 2018 | 9.73% | 366.06% | 0.03x | 1.00x | $-438.56K |
| 2019 | 9.51% | 291.30% | 0.03x | 1.00x | $-934.07K |
| 2020 | -20.42% | -10390.23% | 0.00x | 1.51x | $-34.98 Million |
| 2021 | 83.88% | 4977.85% | 0.01x | 1.85x | $131.43 Million |
| 2022 | 6.89% | 259.25% | 0.01x | 1.86x | $-5.65 Million |
| 2023 | -20.67% | -481.35% | 0.02x | 1.79x | $-51.91 Million |
| 2024 | 29.97% | 52.42% | 0.32x | 1.81x | $48.35 Million |
| 2025 | 30.47% | 40.84% | 0.37x | 2.02x | $72.25 Million |
Industry Comparison
This section compares Frmo Corp's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $310,488,743
- Average return on equity (ROE) among peers: -23.81%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Frmo Corp (FRMO) | $529.95 Million | -1.13% | 0.15x | $74.51K |
| Aberdeen International Inc (AABVF) | $136.31 Million | 25.56% | 0.23x | $2.78 Million |
| Acadian Asset Management Inc (AAMI) | $-17.60 Million | 0.00% | 0.00x | $1.39 Billion |
| AllianceBernstein Holding L.P. (AB) | $402.30 Million | 32.07% | 0.95x | $3.43 Billion |
| VIVO Cannabis Inc (ABCCF) | $164.13 Million | 16.36% | 0.09x | $148.26 Million |
| Associated Capital Group Inc (AC) | $502.13 Million | 5.33% | 0.17x | $42.54 Million |
| Adrian Resources Ltd (ADLRF) | $605.01 Million | 3.35% | 0.58x | $609.82 Million |
| Abrdn Emerging Markets Equity Income Fund Inc (AEF) | $85.10 Million | -65.65% | 0.01x | $77.20K |
| AGF Management Limited (AGFMF) | $1.12 Billion | 10.14% | 3.56x | $298.43 Million |
| Agronomics Limited (AGNMF) | $100.03 Million | 1.02% | 0.02x | $57.14 Million |
| AgriFORCE Growing Systems Ltd (AGRI) | $6.11 Million | -266.31% | 0.76x | $2.71 Million |