Aerostar Bacau (ARS) - Net Assets
Based on the latest financial reports, Aerostar Bacau (ARS) has net assets worth RON710.21 Million RON (≈ $163.07 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 (RON898.86 Million ≈ $206.39 Million USD) and total liabilities (RON188.66 Million ≈ $43.32 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | RON710.21 Million |
| % of Total Assets | 79.01% |
| Annual Growth Rate | 13.01% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 2.45 |
Aerostar Bacau - Net Assets Trend (2021–2025)
This chart illustrates how Aerostar Bacau's net assets have evolved over time, based on quarterly financial data. Also explore balance sheet size of Aerostar Bacau for the complete picture of this company's asset base.
Annual Net Assets for Aerostar Bacau (2021–2025)
The table below shows the annual net assets of Aerostar Bacau from 2021 to 2025. For live valuation and market cap data, see ARS market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | RON620.33 Million ≈ $142.44 Million |
+12.39% |
| 2024-06-30 | RON551.96 Million ≈ $126.74 Million |
+11.80% |
| 2023-06-30 | RON493.71 Million ≈ $113.36 Million |
+17.16% |
| 2022-06-30 | RON421.39 Million ≈ $96.76 Million |
+10.78% |
| 2021-06-30 | RON380.37 Million ≈ $87.34 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Aerostar Bacau'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 67.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (June 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | RON150.10 Million | 24.20% |
| Other Components | RON470.24 Million | 75.80% |
| Total Equity | RON620.33 Million | 100.00% |
Aerostar Bacau Competitors by Market Cap
The table below lists competitors of Aerostar Bacau ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Wheels India Limited
NSE:WHEELS
|
$437.17 Million |
|
Menif Financial Services Ltd
TA:MNIF
|
$437.29 Million |
|
Diageo PLC
LSE:DGE
|
$437.31 Million |
|
Shandong Synthesis Electronic Technology Co Ltd
SHE:300479
|
$437.69 Million |
|
Hu Lane Associate
TWO:6279
|
$436.84 Million |
|
Hota Industrial Mfg. Co Ltd
TW:1536
|
$436.80 Million |
|
Aekyung Petrochemical Co Ltd
KO:161000
|
$436.80 Million |
|
Doright Co.Ltd.
SHE:300950
|
$436.77 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Aerostar Bacau's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 551,957,000 to 620,334,000, a change of 68,377,000 (12.4%).
- Net income of 95,725,000 contributed positively to equity growth.
- Dividend payments of 30,893,000 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | RON95.72 Million | +15.43% |
| Dividends Paid | RON30.89 Million | -4.98% |
| Other Changes | RON3.54 Million | +0.57% |
| Total Change | RON- | 12.39% |
Book Value vs Market Value Analysis
This analysis compares Aerostar Bacau'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: 3.07x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 5.00x to 3.07x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2021-06-30 | RON2.50 | RON12.50 | x |
| 2022-06-30 | RON2.77 | RON12.50 | x |
| 2023-06-30 | RON3.24 | RON12.50 | x |
| 2024-06-30 | RON3.62 | RON12.50 | x |
| 2025-06-30 | RON4.07 | RON12.50 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Aerostar Bacau 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): 15.43%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 15.21%
- • Asset Turnover: 0.77x
- • Equity Multiplier: 1.31x
- Recent ROE (15.43%) is above the historical average (14.98%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2021 | 10.11% | 12.50% | 0.56x | 1.44x | RON406.00K |
| 2022 | 14.22% | 15.87% | 0.61x | 1.48x | RON17.80 Million |
| 2023 | 18.28% | 19.19% | 0.66x | 1.45x | RON40.90 Million |
| 2024 | 16.85% | 17.60% | 0.71x | 1.35x | RON37.83 Million |
| 2025 | 15.43% | 15.21% | 0.77x | 1.31x | RON33.69 Million |
Industry Comparison
This section compares Aerostar Bacau's net assets metrics with peer companies in the Aerospace & Defense industry.
Industry Context
- Industry: Aerospace & Defense
- Average net assets among peers: $102,037,670
- Average return on equity (ROE) among peers: 7.83%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Aerostar Bacau (ARS) | RON710.21 Million | 10.11% | 0.27x | $437.07 Million |
| Santierul Naval Orsova SA (SNO) | $95.76 Million | 3.35% | 0.12x | $36.20 Million |
| TURBOMECANICA S.A. (TBM) | $108.32 Million | 12.32% | 0.44x | $22.73 Million |
About Aerostar Bacau
Aerostar S.A. engages in the manufacture, integration, upgrade, and maintenance of aviation and ground defense systems for the civil aviation industry in Romania and internationally. It offers aerostructures, components, and parts and subassemblies; and landing gears and hydraulic systems, as well as maintenance and repair services. The company is also involved in the MRO and upgrades for militar… Read more