CombinedX AB (CX) - Net Assets
Based on the latest financial reports, CombinedX AB (CX) has net assets worth Skr478.60 Million SEK (≈ $51.51 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 (Skr879.60 Million ≈ $94.66 Million USD) and total liabilities (Skr401.00 Million ≈ $43.15 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. Explore CX operating cash flow to assess how effectively this company generates cash.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Skr478.60 Million |
| % of Total Assets | 54.41% |
| Annual Growth Rate | 33.37% |
| 5-Year Change | 110.93% |
| 10-Year Change | N/A |
| Growth Volatility | 19.61 |
CombinedX AB - Net Assets Trend (2015–2025)
This chart illustrates how CombinedX AB's net assets have evolved over time, based on quarterly financial data. Also explore how large is CombinedX AB's balance sheet for the complete picture of this company's asset base.
Annual Net Assets for CombinedX AB (2015–2025)
The table below shows the annual net assets of CombinedX AB from 2015 to 2025. For live valuation and market cap data, see CX market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | Skr478.60 Million ≈ $51.51 Million |
+12.74% |
| 2024-12-31 | Skr424.50 Million ≈ $45.68 Million |
+12.93% |
| 2023-12-31 | Skr375.90 Million ≈ $40.45 Million |
+18.10% |
| 2022-12-31 | Skr318.30 Million ≈ $34.25 Million |
+40.28% |
| 2021-12-31 | Skr226.90 Million ≈ $24.42 Million |
+41.99% |
| 2020-12-31 | Skr159.80 Million ≈ $17.20 Million |
+47.01% |
| 2018-12-31 | Skr108.70 Million ≈ $11.70 Million |
+73.64% |
| 2017-12-31 | Skr62.60 Million ≈ $6.74 Million |
+54.68% |
| 2016-12-31 | Skr40.47 Million ≈ $4.36 Million |
+50.61% |
| 2015-12-31 | Skr26.87 Million ≈ $2.89 Million |
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Equity Component Analysis
This analysis shows how different components contribute to CombinedX AB'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 977.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | Skr137.10 Million | 28.65% |
| Common Stock | Skr1.00 Million | 0.21% |
| Other Comprehensive Income | Skr-5.90 Million | -1.23% |
| Other Components | Skr346.40 Million | 72.38% |
| Total Equity | Skr478.60 Million | 100.00% |
CombinedX AB Competitors by Market Cap
The table below lists competitors of CombinedX AB ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
The Intergroup Corporation
NASDAQ:INTG
|
$79.25 Million |
|
VirnetX Holding Corp Common Stock
NYSE:VHC
|
$79.25 Million |
|
ZUE SA
WAR:ZUE
|
$79.26 Million |
|
Datacentrex, Inc.
NASDAQ:DTCX
|
$79.30 Million |
|
Samchem Holdings Bhd
KLSE:5147
|
$79.22 Million |
|
Southern Concrete Pile PCL
BK:SCP
|
$79.19 Million |
|
Av Gad Holdings Ltd
TA:AVGD
|
$79.14 Million |
|
BMT Co. Ltd
KQ:086670
|
$79.11 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in CombinedX AB's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 424,300,000 to 478,600,000, a change of 54,300,000 (12.8%).
- Net income of 37,700,000 contributed positively to equity growth.
- Dividend payments of 25,600,000 reduced retained earnings.
- New share issuances of 900,000 increased equity.
- Other comprehensive income decreased equity by 5,900,000.
- Other factors increased equity by 47,200,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Skr37.70 Million | +7.88% |
| Dividends Paid | Skr25.60 Million | -5.35% |
| Share Issuances | Skr900.00K | +0.19% |
| Other Comprehensive Income | Skr-5.90 Million | -1.23% |
| Other Changes | Skr47.20 Million | +9.86% |
| Total Change | Skr- | 12.80% |
Book Value vs Market Value Analysis
This analysis compares CombinedX AB'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: 1.50x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 0.19x to 1.50x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2015-12-31 | Skr194.69 | Skr37.80 | x |
| 2016-12-31 | Skr283.03 | Skr37.80 | x |
| 2017-12-31 | Skr6.61 | Skr37.80 | x |
| 2018-12-31 | Skr10.59 | Skr37.80 | x |
| 2020-12-31 | Skr9.47 | Skr37.80 | x |
| 2021-12-31 | Skr13.45 | Skr37.80 | x |
| 2022-12-31 | Skr18.10 | Skr37.80 | x |
| 2023-12-31 | Skr21.68 | Skr37.80 | x |
| 2024-12-31 | Skr23.68 | Skr37.80 | x |
| 2025-12-31 | Skr25.27 | Skr37.80 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently CombinedX AB 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): 7.88%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.98%
- • Asset Turnover: 1.08x
- • Equity Multiplier: 1.84x
- Recent ROE (7.88%) is below the historical average (13.46%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 4.85% | 0.74% | 1.85x | 3.55x | Skr-1.39 Million |
| 2016 | 33.60% | 7.01% | 1.86x | 2.57x | Skr9.55 Million |
| 2017 | 26.84% | 6.74% | 1.58x | 2.52x | Skr10.54 Million |
| 2018 | 7.54% | 2.26% | 1.53x | 2.17x | Skr-2.67 Million |
| 2020 | -9.64% | -2.89% | 1.31x | 2.55x | Skr-31.38 Million |
| 2021 | 21.73% | 8.80% | 1.31x | 1.88x | Skr26.61 Million |
| 2022 | 11.06% | 5.41% | 1.09x | 1.88x | Skr3.37 Million |
| 2023 | 18.86% | 9.26% | 1.21x | 1.68x | Skr33.31 Million |
| 2024 | 11.93% | 5.44% | 1.25x | 1.75x | Skr8.17 Million |
| 2025 | 7.88% | 3.98% | 1.08x | 1.84x | Skr-10.16 Million |
Industry Comparison
This section compares CombinedX AB's net assets metrics with peer companies in the Information Technology Services industry.
Industry Context
- Industry: Information Technology Services
- Average net assets among peers: $693,841,635
- Average return on equity (ROE) among peers: 12.50%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| CombinedX AB (CX) | Skr478.60 Million | 4.85% | 0.84x | $79.24 Million |
| Addnode Group AB (publ) (ANOD-B) | $525.90 Million | 19.49% | 0.60x | $671.33 Million |
| Avensia publ AB (AVEN) | $30.43 Million | -39.84% | 5.01x | $33.40 Million |
| B3 Consulting Group AB (B3) | $17.89 Million | 56.74% | 3.73x | $27.26 Million |
| CAG Group AB (publ) (CAG) | $63.16 Million | 18.18% | 0.98x | $82.15 Million |
| Dustin Group AB (DUST) | $1.49 Billion | 16.10% | 1.81x | $255.93 Million |
| Exsitec Holding AB (EXS) | $363.82 Million | 15.42% | 1.06x | $164.04 Million |
| Fram Skandinavien AB Series B (FRAM-B) | $49.96 Million | 15.90% | 0.30x | $1.65 Million |
| Know IT AB (KNOW) | $3.63 Billion | -7.85% | 0.65x | $263.30 Million |
| Novotek AB (NTEK-B) | $79.82 Million | 18.35% | 0.84x | $55.82 Million |
About CombinedX AB
CombinedX AB (publ) provides technology solutions to companies and organizations. The company also offers services in the areas of digital business development and transformation, service design and customer experience, business systems and processes, data analysis and decision support, automation and robotization, application development and lifecycle management, the digital workplace and identi… Read more