Fortnox AB
Fortnox AB (publ) provides smart technical products, packages, services, and integrations for financial and administration applications in small and medium sized businesses, accounting firms, and organizations in Sweden. The company offers accounting products comprising bookkeeping, bookkeeping approval and review, supplier invoice approval, invoice data capture, fixed assets register, read, and … Read more
Fortnox AB (FNOX) - Net Assets
Latest net assets as of March 2025: Skr2.57 Billion SEK
Based on the latest financial reports, Fortnox AB (FNOX) has net assets worth Skr2.57 Billion SEK as of March 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Skr3.62 Billion) and total liabilities (Skr1.04 Billion). 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 | Skr2.57 Billion |
| % of Total Assets | 71.12% |
| Annual Growth Rate | 35.38% |
| 5-Year Change | 403.35% |
| 10-Year Change | 6303.84% |
| Growth Volatility | 32.33 |
Fortnox AB - Net Assets Trend (2008–2024)
This chart illustrates how Fortnox AB's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Fortnox AB (2008–2024)
The table below shows the annual net assets of Fortnox AB from 2008 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | Skr2.36 Billion | +33.30% |
| 2023-12-31 | Skr1.77 Billion | +38.35% |
| 2022-12-31 | Skr1.28 Billion | +30.47% |
| 2021-12-31 | Skr981.71 Million | +109.20% |
| 2020-12-31 | Skr469.26 Million | +67.32% |
| 2019-12-31 | Skr280.45 Million | +69.62% |
| 2018-12-31 | Skr165.34 Million | +66.88% |
| 2017-12-31 | Skr99.08 Million | +68.77% |
| 2016-12-31 | Skr58.71 Million | +59.17% |
| 2015-12-31 | Skr36.88 Million | +38.08% |
| 2014-12-31 | Skr26.71 Million | -32.83% |
| 2013-12-31 | Skr39.77 Million | +9.24% |
| 2012-12-31 | Skr36.40 Million | +14.74% |
| 2011-12-31 | Skr31.73 Million | +24.52% |
| 2010-12-31 | Skr25.48 Million | +10.13% |
| 2009-12-31 | Skr23.14 Million | +24.72% |
| 2008-12-31 | Skr18.55 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Fortnox 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 194568568200.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | Skr1.93 Billion | 81.50% |
| Common Stock | Skr1.00 Million | 0.04% |
| Other Components | Skr436.00 Million | 18.46% |
| Total Equity | Skr2.36 Billion | 100.00% |
Fortnox AB Competitors by Market Cap
The table below lists competitors of Fortnox AB ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Fras-le S.A
SA:FRAS3
|
$162.34 Million |
|
ACQ BURE AB
F:0FE
|
$162.36 Million |
|
Newtechwood Corp
SHE:301588
|
$162.43 Million |
|
Sonix Technology Co Ltd
TW:5471
|
$162.49 Million |
|
SOS Lab
KQ:464080
|
$162.31 Million |
|
CRICUT INC. CL.A DL-001
F:398
|
$162.31 Million |
|
Heung-A Shipping Co. Ltd.
KO:003280
|
$162.31 Million |
|
Healthco Healthcare and Wellness REIT
AU:HCW
|
$162.30 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Fortnox AB's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 1,772,000,000 to 2,362,000,000, a change of 590,000,000 (33.3%).
- Net income of 710,000,000 contributed positively to equity growth.
- Dividend payments of 122,000,000 reduced retained earnings.
- New share issuances of 13,000,000 increased equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Skr710.00 Million | +30.06% |
| Dividends Paid | Skr122.00 Million | -5.17% |
| Share Issuances | Skr13.00 Million | +0.55% |
| Other Changes | Skr-11.00 Million | -0.47% |
| Total Change | Skr- | 33.30% |
Book Value vs Market Value Analysis
This analysis compares Fortnox 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: 23.08x
- 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 2242.12x to 23.08x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2008-12-31 | Skr0.04 | Skr89.40 | x |
| 2009-12-31 | Skr0.04 | Skr89.40 | x |
| 2010-12-31 | Skr0.04 | Skr89.40 | x |
| 2011-12-31 | Skr0.06 | Skr89.40 | x |
| 2012-12-31 | Skr0.06 | Skr89.40 | x |
| 2013-12-31 | Skr0.07 | Skr89.40 | x |
| 2014-12-31 | Skr0.04 | Skr89.40 | x |
| 2015-12-31 | Skr0.06 | Skr89.40 | x |
| 2016-12-31 | Skr0.10 | Skr89.40 | x |
| 2017-12-31 | Skr0.17 | Skr89.40 | x |
| 2018-12-31 | Skr0.27 | Skr89.40 | x |
| 2019-12-31 | Skr0.47 | Skr89.40 | x |
| 2020-12-31 | Skr0.78 | Skr89.40 | x |
| 2021-12-31 | Skr1.61 | Skr89.40 | x |
| 2022-12-31 | Skr2.10 | Skr89.40 | x |
| 2023-12-31 | Skr2.91 | Skr89.40 | x |
| 2024-12-31 | Skr3.87 | Skr89.40 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Fortnox 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): 30.06%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 34.72%
- • Asset Turnover: 0.60x
- • Equity Multiplier: 1.44x
- Recent ROE (30.06%) is above the historical average (27.72%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2008 | -42.47% | -93.63% | 0.36x | 1.27x | Skr-9.51 Million |
| 2009 | -10.13% | -11.58% | 0.65x | 1.35x | Skr-4.49 Million |
| 2010 | 17.05% | 15.14% | 0.95x | 1.19x | Skr1.80 Million |
| 2011 | 10.23% | 7.56% | 1.10x | 1.23x | Skr73.95K |
| 2012 | 12.85% | 8.07% | 1.27x | 1.25x | Skr1.04 Million |
| 2013 | 23.15% | 11.15% | 1.56x | 1.33x | Skr5.23 Million |
| 2014 | 47.66% | 13.15% | 1.31x | 2.77x | Skr9.87 Million |
| 2015 | 53.66% | 14.98% | 1.17x | 3.05x | Skr15.81 Million |
| 2016 | 56.57% | 17.20% | 1.21x | 2.72x | Skr26.80 Million |
| 2017 | 49.13% | 18.15% | 0.83x | 3.26x | Skr38.77 Million |
| 2018 | 47.71% | 21.07% | 0.93x | 2.43x | Skr62.34 Million |
| 2019 | 48.12% | 25.36% | 0.96x | 1.97x | Skr106.90 Million |
| 2020 | 43.77% | 29.61% | 0.74x | 1.98x | Skr158.46 Million |
| 2021 | 24.56% | 25.87% | 0.47x | 2.01x | Skr142.93 Million |
| 2022 | 27.09% | 27.20% | 0.55x | 1.80x | Skr218.92 Million |
| 2023 | 32.17% | 34.71% | 0.62x | 1.50x | Skr392.80 Million |
| 2024 | 30.06% | 34.72% | 0.60x | 1.44x | Skr473.80 Million |
Industry Comparison
This section compares Fortnox AB's net assets metrics with peer companies in the Software - Application industry.
Industry Context
- Industry: Software - Application
- Average net assets among peers: $126,048,416
- Average return on equity (ROE) among peers: -49.61%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Fortnox AB (FNOX) | Skr2.57 Billion | -42.47% | 0.41x | $162.31 Million |
| 24SevenOffice Scandinavia AB (247) | $224.91 Million | -92.59% | 1.79x | $11.74 Million |
| eEducation Albert AB (ALBERT) | $239.38 Million | -40.80% | 0.27x | $4.54 Million |
| AppSpotr AB (APTR) | $1.94 Million | -82.05% | 0.40x | $2.58 Million |
| Better Collective (BETCO) | $412.92 Million | 11.64% | 0.90x | $403.96 Million |
| BIMobject AB (BIM) | $2.25 Million | -100.86% | 0.40x | $36.99 Million |
| Bambuser AB (BUSER) | $94.15 Million | -120.06% | 0.51x | $12.43 Million |
| CodeMill AB (CDMIL) | $29.32 Million | -19.90% | 1.21x | $7.40 Million |
| Crunchfish AB (CFISH) | $47.16 Million | -56.24% | 0.17x | $12.42 Million |
| ChargePanel AB (CHARGE) | $672.00K | 3.13% | 2.05x | $3.02 Million |
| Checkin.com Group AB (CHECK) | $207.78 Million | 1.67% | 0.16x | $1.07 Million |